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Nonprofiteer
← BROWN-ATCHISON ELECTRIC COOPERATIVE ASSN INC

Form 990 for tax year 2024

Filed by BROWN-ATCHISON ELECTRIC COOPERATIVE ASSN INC.

Totals

Total revenue
$7,109,974
Total expenses
$7,109,974
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,030,644
Investment income
$35,553
Other revenue
$43,777
Total assets, end of year
$23,812,015
Total liabilities, end of year
$10,648,990
Net assets or fund balances, end of year
$13,163,025
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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: SALE OF ELECTRICITY

    total $7,012,550 · related or exempt $7,012,550 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $18,094 · related or exempt $18,094 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $35,553 · related or exempt $35,553 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 10a · Gross sales of inventory

    $3,584

  • 10b · Cost of goods sold

    $2,475

  • 10c · Net income from sales of inventory

    total $1,109 · related or exempt $1,109 · unrelated business $0 · excluded $0

  • 11a · Other revenue: OTHER CAPITAL CREDITS

    total $42,668 · related or exempt $42,668 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $42,668

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $311,257

  • 5 · Compensation of officers, directors and key employees

    total $481,177

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $60,672

  • 8 · Pension plan contributions

    total $178,677

  • 9 · Other employee benefits

    total $186,218

  • 10 · Payroll taxes

    total $80,250

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $13,807

  • 11c · Fees: accounting

    total $11,200

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $37,578

  • 12 · Advertising and promotion

    total $28,701

  • 13 · Office expenses

    total $34,111

  • 14 · Information technology

    total $95,240

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $188,374

  • 17 · Travel

    total $3,682

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $31,313

  • 20 · Interest

    total $380,969

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $840,706

  • 23 · Insurance

    total $54,078

  • 24a · Other expenses: PURCHASED POWER

    total $3,908,991

  • 24b · Other expenses: OPERATING EXPENSE/SUPPLIES

    total $96,721

  • 24c · Other expenses: DUES

    total $67,730

  • 24d · Other expenses: PROPERTY/BLDG MTC/SUPPLIES

    total $18,522

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,596 · end of year $22,322

  • 2 · Savings and temporary cash investments

    beginning of year $492,949 · end of year $380,580

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $556,235 · end of year $548,807

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $569 · end of year $191

  • 8 · Inventories for sale or use

    beginning of year $225,026 · end of year $177,905

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,901 · end of year $23,481

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

    $25,074,870

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

    $5,558,040

  • 10c · Land, buildings and equipment, net

    beginning of year $18,775,809 · end of year $19,516,830

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $3,111,818 · end of year $3,141,899

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $275,493 · end of year $308,997

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year -$6,665 · end of year $12,704

  • 20 · Tax-exempt bond liabilities

    beginning of year $9,674,398 · end of year $10,327,289

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $49,715 · end of year $50,445

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

    beginning of year $12,896,679 · end of year $12,800,684

  • 31 · Retained earnings, endowment or other funds

    beginning of year $300,283 · end of year $311,896

Mission and programs · 2024

Mission

TO PROVIDE ELECTRIC DISTRIBUTION SERVICE TO RURAL AREAS AT COST

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO RURAL AREAS

  • TO PROVIDE ELECTRICAL SERVICE TO RURAL AREAS AT COST

As filed on the 2024 return.

Listed in Part VII

  • Michael Volker

    GENERAL MANAGER

    Total calculated
    $261,117
    From this org
    $177,060
    From related orgs
    $0
    Other
    $84,057
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $177,059
    Bonus
    $0
    Other
    $0
    Deferred
    $46,414
    Nontaxable benefits
    $38,644
    Filer's total
    $262,117

  • Jason Bare

    LINE SUPERINTENDENT

    Total calculated
    $162,377
    From this org
    $101,230
    From related orgs
    $0
    Other
    $61,147
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $101,230
    Bonus
    $0
    Other
    $0
    Deferred
    $27,193
    Nontaxable benefits
    $33,954
    Filer's total
    $162,377

  • Gregory Tanking

    TRUSTEE

    Total calculated
    $10,831
    From this org
    $6,032
    From related orgs
    $0
    Other
    $4,799
    Hours/week
    1 + 2 related

  • Dean C Miller

    PRESIDENT, TRUSTEE

    Total calculated
    $8,239
    From this org
    $5,351
    From related orgs
    $0
    Other
    $2,888
    Hours/week
    2 + 0.5 related

  • Brent Nelson

    SECRETARY, TRUSTEE

    Total calculated
    $7,721
    From this org
    $4,300
    From related orgs
    $0
    Other
    $3,421
    Hours/week
    1.5 + 0.5 related

  • Kevin Gigstad

    VICE PRESIDENT, TRUSTEE

    Total calculated
    $6,278
    From this org
    $4,129
    From related orgs
    $0
    Other
    $2,149
    Hours/week
    1.5 + 0.5 related

  • Paul Hinton

    TRUSTEE

    Total calculated
    $5,634
    From this org
    $3,309
    From related orgs
    $0
    Other
    $2,325
    Hours/week
    1

  • Kevin Compton

    TRUSTEE

    Total calculated
    $5,629
    From this org
    $3,774
    From related orgs
    $0
    Other
    $1,855
    Hours/week
    1 + 1 related

  • Daryl Sales

    TREASURER, TRUSTEE

    Total calculated
    $5,201
    From this org
    $3,341
    From related orgs
    $0
    Other
    $1,860
    Hours/week
    1 + 0.5 related

  • Gregg Oswald

    TRUSTEE

    Total calculated
    $4,707
    From this org
    $2,907
    From related orgs
    $0
    Other
    $1,800
    Hours/week
    1

  • Sharan Kerl

    TRUSTEE

    Total calculated
    $2,968
    From this org
    $2,598
    From related orgs
    $0
    Other
    $370
    Hours/week
    1

  • K Joe Taliaferro

    TRUSTEE

    Total calculated
    $475
    From this org
    $433
    From related orgs
    $0
    Other
    $42
    Hours/week
    1

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 committee
  • 3 · Written employment contract
  • 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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
29 April 2025
IRS schema version
2024v5.0
Source object
202501199349302910

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