Skip to content
Nonprofiteer
← RITA BLANCA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by RITA BLANCA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$90,529,191
Total expenses
$90,539,100
Contributions and grants received
$0
Grants paid
$23,490
Program service revenue
$90,140,936
Investment income
$384,142
Other revenue
$4,113
Total assets, end of year
$130,821,379
Total liabilities, end of year
$26,546,096
Net assets or fund balances, end of year
$104,275,283
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALES OF ELECTRICITY

    total $88,048,674 · related or exempt $88,048,674

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $1,954,194 · related or exempt $1,954,194

  • 2c · Program service revenue: SERVICE FEES

    total $138,068 · related or exempt $138,068

  • 3 · Investment income

    total $146,445 · excluded $146,445

  • 7a · Gross sales of assets other than inventory

    other assets $237,697

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $237,697

  • 7d · Net gain or loss

    total $237,697 · related or exempt $237,697

  • 10a · Gross sales of inventory

    $1,790

  • 10b · Cost of goods sold

    $1,352

  • 10c · Net income from sales of inventory

    total $438 · related or exempt $438

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $3,675 · excluded $3,675

  • 11e · Other revenue, total

    $3,675

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $23,490

  • 4 · Benefits paid to or for members

    total $10,512,635

  • 5 · Compensation of officers, directors and key employees

    total $1,117,887

  • 7 · Other salaries and wages

    total $1,367,377

  • 8 · Pension plan contributions

    total $207,095

  • 9 · Other employee benefits

    total $493,170

  • 10 · Payroll taxes

    total $146,294

  • 20 · Interest

    total $525,607

  • 22 · Depreciation, depletion and amortization

    total $3,405,304

  • 24a · Other expenses: PURCHASED POWER

    total $71,677,846

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $841,872

  • 24c · Other expenses: CONSUMER EXPENSE

    total $140,989

  • 24d · Other expenses: DISTRIBUTION EXPENSE

    total $61,355

  • 24e · All other expenses

    total $18,179

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,270,390 · end of year $3,179,984

  • 2 · Savings and temporary cash investments

    beginning of year $116,628 · end of year $3,439,971

  • 4 · Accounts receivable

    beginning of year $6,171,357 · end of year $5,804,823

  • 8 · Inventories for sale or use

    beginning of year $996,877 · end of year $1,542,402

  • 9 · Prepaid expenses and deferred charges

    beginning of year $494,257 · end of year $336,296

  • 10a · Land, buildings and equipment: cost or other basis

    $107,740,822

  • 10b · Land, buildings and equipment: accumulated depreciation

    $27,407,532

  • 10c · Land, buildings and equipment, net

    beginning of year $75,268,449 · end of year $80,333,290

  • 12 · Investments: other securities

    beginning of year $5,660 · end of year $5,660

  • 13 · Investments: program-related

    beginning of year $32,858,909 · end of year $33,976,049

  • 15 · Other assets

    beginning of year $2,311,799 · end of year $2,202,904

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,377,166 · end of year $6,412,798

  • 21 · Escrow or custodial account liability

    beginning of year $4,223 · end of year $10,135

  • 23 · Secured mortgages and notes payable

    beginning of year $14,309,511 · end of year $12,973,975

  • 25 · Other liabilities

    beginning of year $4,898,270 · end of year $7,149,188

  • 29 · Capital stock, trust principal or current funds

    beginning of year $8,555 · end of year $8,665

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $95,896,601 · end of year $104,266,618

Mission and programs · 2022

Mission

NONE

Activities or mission (Part I)

TO PROVIDE ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • SALE OF ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 8,501 ACTIVE SERVICES AT YEAR END.

As filed on the 2022 return.

Listed in Part VII

  • Carl D Finch

    CHAIRMAN

    Total calculated
    $27,271
    From this org
    $27,271
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.9

  • Brad Green

    DIRECTOR

    Total calculated
    $27,421
    From this org
    $27,421
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • Carl J Kuper Jan-Mar

    DIRECTOR

    Total calculated
    $4,725
    From this org
    $4,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.6

  • Bradley McBryde

    VICE CHAIRMAN

    Total calculated
    $29,491
    From this org
    $29,491
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • David Higgins

    DIRECTOR

    Total calculated
    $30,280
    From this org
    $30,280
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Darren Stallwitz

    DIRECTOR

    Total calculated
    $21,045
    From this org
    $21,045
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Shad McDaniel

    DIRECTOR

    Total calculated
    $20,501
    From this org
    $20,501
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Brent Spurlock

    SECRETARY/TREASURER

    Total calculated
    $29,491
    From this org
    $29,491
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Chris Sheldon

    DIRECTOR

    Total calculated
    $25,310
    From this org
    $25,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Wade Lenz April-Dec

    DIRECTOR

    Total calculated
    $25,248
    From this org
    $25,248
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • Brent Wheeler

    GENERAL MANAGER

    Total calculated
    $372,155
    From this org
    $262,263
    From related orgs
    $0
    Other
    $109,892
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $227,199
    Bonus
    $16,123
    Other
    $18,941
    Deferred
    $74,359
    Nontaxable benefits
    $35,533
    Filer's total
    $372,155

  • Tracy Howell

    OUTSIDE OPERATIONS MANAGER

    Total calculated
    $248,118
    From this org
    $180,044
    From related orgs
    $0
    Other
    $68,074
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $162,230
    Bonus
    $11,659
    Other
    $6,155
    Deferred
    $59,015
    Nontaxable benefits
    $9,059
    Filer's total
    $248,118

  • Graciela Subealdea

    INSIDE OPERATIONS MANAGER

    Total calculated
    $256,831
    From this org
    $166,983
    From related orgs
    $0
    Other
    $89,848
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,855
    Bonus
    $11,091
    Other
    $8,037
    Deferred
    $53,111
    Nontaxable benefits
    $36,737
    Filer's total
    $256,831

  • Larry Aragon

    LINEMAN

    Total calculated
    $192,159
    From this org
    $123,065
    From related orgs
    $0
    Other
    $69,094
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,583
    Bonus
    $7,483
    Other
    $1,999
    Deferred
    $35,736
    Nontaxable benefits
    $33,358
    Filer's total
    $192,159

  • Dale Cleavinger

    SERVICE CREW

    Total calculated
    $178,561
    From this org
    $111,474
    From related orgs
    $0
    Other
    $67,087
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,031
    Bonus
    $6,874
    Other
    $1,569
    Deferred
    $32,830
    Nontaxable benefits
    $34,257
    Filer's total
    $178,561

  • Shaun Scofield

    LINEMAN

    Total calculated
    $185,959
    From this org
    $122,971
    From related orgs
    $0
    Other
    $62,988
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,565
    Bonus
    $7,330
    Other
    $1,076
    Deferred
    $31,859
    Nontaxable benefits
    $31,129
    Filer's total
    $185,959

  • John Pope

    LINEMAN

    Total calculated
    $184,785
    From this org
    $127,718
    From related orgs
    $0
    Other
    $57,067
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,149
    Bonus
    $8,091
    Other
    $3,478
    Deferred
    $39,717
    Nontaxable benefits
    $17,350
    Filer's total
    $184,785

  • Reynold Martinez

    LINEMAN

    Total calculated
    $193,298
    From this org
    $119,384
    From related orgs
    $0
    Other
    $73,914
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,850
    Bonus
    $7,559
    Other
    $975
    Deferred
    $41,356
    Nontaxable benefits
    $32,558
    Filer's total
    $193,298

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. BRENT WHEELER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 53,109 EMPLOYER CONTRIBUTION TO 401(K) PLAN 21,250 TOTAL REPORTED IN COLUMN C $ 74,359 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (53,109) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,224 EXPENSE TO THE COOPERATIVE $ 49,474 GRACIELA SUBEALDEA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 38,549 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,562 TOTAL REPORTED IN COLUMN C $ 53,111 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (38,549) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,319 EXPENSE TO THE COOPERATIVE $ 33,881 TRACY HOWELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,490 EMPLOYER CONTRIBUTION TO 401(K) PLAN 15,525 TOTAL REPORTED IN COLUMN C $ 59,015 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,490) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,698 EXPENSE TO THE COOPERATIVE $ 36,223 REYNOLD MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,450 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,906 TOTAL REPORTED IN COLUMN C $ 41,356 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,450) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,139 EXPENSE TO THE COOPERATIVE $ 23,045 LARRY ARAGON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,856 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,880 TOTAL REPORTED IN COLUMN C $ 35,736 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,856) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,139 EXPENSE TO THE COOPERATIVE $ 23,019 SHAUN SCOFIELD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,187 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,672 TOTAL REPORTED IN COLUMN C $ 31,859 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,187) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 12,859 EXPENSE TO THE COOPERATIVE $ 22,531 JOHN POPE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,849 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,868 TOTAL REPORTED IN COLUMN C $ 39,717 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,849) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,537 EXPENSE TO THE COOPERATIVE $ 25,405 DALE CLEAVINGER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,626 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,204 TOTAL REPORTED IN COLUMN C $ 32,830 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,626) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 12,300 EXPENSE TO THE COOPERATIVE $ 21,504

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349329282

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.