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Nonprofiteer
← SALMON RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by SALMON RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$7,462,144
Total expenses
$7,193,194
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,169,194
Investment income
$268,950
Other revenue
$24,000
Total assets, end of year
$21,503,931
Total liabilities, end of year
$8,727,372
Net assets or fund balances, end of year
$12,776,559
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: ELECTRICITY SALES

    total $7,134,581 · related or exempt $7,134,581

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $34,613 · related or exempt $34,613

  • 3 · Investment income

    total $248,950 · related or exempt $52,285 · excluded $196,665

  • 6a · Gross rents

    real property $24,000

  • 6c · Rental income or loss

    real property $24,000

  • 6d · Net rental income or loss

    total $24,000 · related or exempt $24,000

  • 7a · Gross sales of assets other than inventory

    other assets $20,000

  • 7c · Gain or loss

    other assets $20,000

  • 7d · Net gain or loss

    total $20,000 · related or exempt $20,000

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $342,718

  • 5 · Compensation of officers, directors and key employees

    total $492,851

  • 7 · Other salaries and wages

    total $971,353

  • 8 · Pension plan contributions

    total $261,375

  • 9 · Other employee benefits

    total $130,512

  • 10 · Payroll taxes

    total $95,917

  • 11b · Fees: legal

    total $805

  • 11c · Fees: accounting

    total $9,500

  • 13 · Office expenses

    total $3,502

  • 16 · Occupancy

    total $32,314

  • 20 · Interest

    total $300,759

  • 22 · Depreciation, depletion and amortization

    total $715,761

  • 23 · Insurance

    total $33,751

  • 24a · Other expenses: COST OF POWER

    total $3,659,500 · program services $3,659,500

  • 24b · Other expenses: DISTRIBUTION-OPERATIONS

    total $811,322 · program services $811,322

  • 24c · Other expenses: ADMIN AND GENERAL

    total $528,372 · program services $528,372

  • 24d · Other expenses: DISTRIBUTION-MAINTENANCE

    total $320,587 · program services $320,587

  • 24e · All other expenses

    total -$1,517,705

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,815,152 · end of year $739,779

  • 4 · Accounts receivable

    beginning of year $579,320 · end of year $698,722

  • 7 · Other notes and loans receivable

    beginning of year $761,012 · end of year $1,424,821

  • 8 · Inventories for sale or use

    beginning of year $546,780 · end of year $668,445

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,008 · end of year $37,982

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

    $26,314,883

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

    $13,522,243

  • 10c · Land, buildings and equipment, net

    beginning of year $12,490,326 · end of year $12,792,640

  • 15 · Other assets

    beginning of year $2,876,771 · end of year $5,141,542

  • 17 · Accounts payable and accrued expenses

    beginning of year $626,288 · end of year $280,132

  • 23 · Secured mortgages and notes payable

    beginning of year $5,823,748 · end of year $7,601,135

  • 24 · Unsecured notes and loans payable

    end of year $400,000

  • 25 · Other liabilities

    beginning of year $430,304 · end of year $446,105

  • 29 · Capital stock, trust principal or current funds

    beginning of year $21,670 · end of year $21,930

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

    beginning of year $6,308,197 · end of year $6,513,904

  • 31 · Retained earnings, endowment or other funds

    beginning of year $5,885,162 · end of year $6,240,725

Mission and programs · 2022

Mission

PROVIDE ELECTRIC DISTRIBUTION AND TRANSMISSION SERVICES TO ITS MEMBERS IN PARTS OF CUSTER, BLAINE, AND LEMHI COUNTIES IN IDAHO.

  • THE COOPERATIVE PURCHASES AND PROVIDES ELECTRIC ENERGY TO ITS MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • Ken Dizes

    GENERAL MANAGER

    Total calculated
    $296,152
    From this org
    $205,201
    From related orgs
    $0
    Other
    $90,951
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $205,201
    Bonus
    not reported
    Other
    not reported
    Deferred
    $64,122
    Nontaxable benefits
    $26,829
    Filer's total
    $296,152

  • Dennis Swindell

    OPERATIONS MANAGER

    Total calculated
    $180,749
    From this org
    $123,441
    From related orgs
    $0
    Other
    $57,308
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $123,441
    Bonus
    not reported
    Other
    not reported
    Deferred
    $38,580
    Nontaxable benefits
    $18,728
    Filer's total
    $180,749

  • Kip Erickson

    LINE FOREMAN

    Total calculated
    $166,795
    From this org
    $111,301
    From related orgs
    $0
    Other
    $55,494
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $111,301
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,405
    Nontaxable benefits
    $22,089
    Filer's total
    $166,795

  • Joseph Runnels

    JOURNEYMAN LINEMAN

    Total calculated
    $156,442
    From this org
    $108,055
    From related orgs
    $0
    Other
    $48,387
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $108,055
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,982
    Nontaxable benefits
    $20,405
    Filer's total
    $156,442

  • Jamie Kestler

    JOURNEYMAN LINEMAN

    Total calculated
    $147,981
    From this org
    $109,053
    From related orgs
    $0
    Other
    $38,928
    Hours/week
    44

  • Steve Sidlo

    DIRECTOR OF FINANCE

    Total calculated
    $138,461
    From this org
    $98,683
    From related orgs
    $0
    Other
    $39,778
    Hours/week
    42

  • Heath Stewart

    JOURNEYMAN LINEMAN

    Total calculated
    $136,601
    From this org
    $104,520
    From related orgs
    $0
    Other
    $32,081
    Hours/week
    44

  • Jeff Bitton

    VICE-PRESIDENT

    Total calculated
    $9,937
    From this org
    $9,937
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Norman Wallis

    PRESIDENT

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Doug Parkinson

    SECRETARYTREASURER

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Robert Boren

    DIRECTOR

    Total calculated
    $8,450
    From this org
    $8,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Earl Skeen

    DIRECTOR

    Total calculated
    $7,450
    From this org
    $7,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Steve Rembelski

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Michael Miller

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

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 · Compensation survey or study

Answered no

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

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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SALMON RIVER PROPANE

    C Corp · SALES OF PROPANE · ID · 100% owned · share of income $2,240,051 · share of assets $4,343,197 · controlled entity

    Directly controlled by SALMON RIVER ELECTRIC

Provenance

Return type
form_990
Tax year
2022
Filed
5 October 2023
IRS schema version
2022v5.0
Source object
202312839349300616

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