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Nonprofiteer
← BEDFORD RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by BEDFORD RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$11,245,772
Total expenses
$11,245,772
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$42,222
Other revenue
$11,203,550
Total assets, end of year
$63,281,023
Total liabilities, end of year
$27,695,830
Net assets or fund balances, end of year
$35,585,193
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.

  • 3 · Investment income

    total $42,222 · excluded $42,222

  • 6a · Gross rents

    personal property $184,961

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $184,961

  • 6d · Net rental income or loss

    total $184,961 · excluded $184,961

  • 10a · Gross sales of inventory

    $33,825,231

  • 10b · Cost of goods sold

    $24,544,197

  • 10c · Net income from sales of inventory

    total $9,281,034 · related or exempt $9,281,034

  • 11a · Other revenue: PAT CAP OF ASSOC. ORGS

    total $1,737,555 · excluded $1,737,555

  • 11e · Other revenue, total

    $1,737,555

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,840,177

  • 5 · Compensation of officers, directors and key employees

    total $492,929

  • 20 · Interest

    total $908,433

  • 22 · Depreciation, depletion and amortization

    total $1,590,311

  • 24a · Other expenses: DISTRIBUTION MAINTENANC

    total $1,889,532

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $1,491,975

  • 24c · Other expenses: ADMINISTRATION AND GENE

    total $1,151,216

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $598,889

  • 24e · All other expenses

    total $282,310

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $502,351 · end of year $262,468

  • 2 · Savings and temporary cash investments

    beginning of year $49,262 · end of year $49,262

  • 4 · Accounts receivable

    beginning of year $2,724,546 · end of year $3,236,310

  • 8 · Inventories for sale or use

    beginning of year $1,217,463 · end of year $1,251,356

  • 9 · Prepaid expenses and deferred charges

    beginning of year $292,924 · end of year $204,182

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

    $58,523,183

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

    $15,916,544

  • 10c · Land, buildings and equipment, net

    beginning of year $42,358,477 · end of year $42,606,639

  • 13 · Investments: program-related

    beginning of year $14,274,028 · end of year $15,670,806

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,269,817 · end of year $3,464,354

  • 23 · Secured mortgages and notes payable

    beginning of year $22,142,742 · end of year $20,696,546

  • 25 · Other liabilities

    beginning of year $1,647,002 · end of year $3,534,930

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $346,902 · end of year $364,005

  • 31 · Retained earnings, endowment or other funds

    beginning of year $34,012,588 · end of year $35,221,188

Mission and programs · 2023

Mission

DISTRIBUTION OF ELECTRICITY TO MEMBER/OWNERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO MEMBERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.

  • DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.

  • DISTRIBUTION OF ELECTRICITY TO MEMBER/OWNERS IN RURAL BEDFORD, PA ON A COOPERATIVE BASIS

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Earl Garland

    DIRECTOR

    Total calculated
    $5,511
    From this org
    $5,511
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Rummel Jr

    SECRETARY

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dale Sprigg II

    DIRECTOR

    Total calculated
    $5,511
    From this org
    $5,511
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Troy Mickle

    DIRECTOR

    Total calculated
    $4,734
    From this org
    $4,734
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ronald Wilkins

    PRESIDENT

    Total calculated
    $4,233
    From this org
    $4,233
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Reuben Lafferty

    TREASURER

    Total calculated
    $5,511
    From this org
    $5,511
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donald Hoenstine

    VICE PRESIDENT

    Total calculated
    $3,670
    From this org
    $3,670
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Travis Wigfield

    DIRECTOR

    Total calculated
    $4,459
    From this org
    $4,459
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brian Hoover

    DIRECTOR

    Total calculated
    $6,563
    From this org
    $6,563
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brooks Shoemaker

    GENERAL MANAGER & CEO

    Total calculated
    $290,464
    From this org
    $212,364
    From related orgs
    $0
    Other
    $78,100
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,364
    Bonus
    $0
    Other
    $0
    Deferred
    $57,015
    Nontaxable benefits
    $21,085
    Filer's total
    $290,464

  • Brent Kauffman

    FINANCE & ACCOUNTING MANAG

    Total calculated
    $155,673
    From this org
    $107,243
    From related orgs
    $0
    Other
    $48,430
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,243
    Bonus
    $0
    Other
    $0
    Deferred
    $28,392
    Nontaxable benefits
    $20,038
    Filer's total
    $155,673

  • Ryan Young

    OPERATIONS & ENGINEERING M

    Total calculated
    $188,271
    From this org
    $132,283
    From related orgs
    $0
    Other
    $55,988
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,283
    Bonus
    $0
    Other
    $0
    Deferred
    $35,686
    Nontaxable benefits
    $20,302
    Filer's total
    $188,271

  • Gary Lafferty

    WORKING FOREMAN

    Total calculated
    $151,752
    From this org
    $110,432
    From related orgs
    $0
    Other
    $41,320
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,432
    Bonus
    $0
    Other
    $0
    Deferred
    $21,630
    Nontaxable benefits
    $19,690
    Filer's total
    $151,752

  • Timothy Shook

    LINE SUPERINTENDENT

    Total calculated
    $160,392
    From this org
    $112,691
    From related orgs
    $0
    Other
    $47,701
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,691
    Bonus
    $0
    Other
    $0
    Deferred
    $27,655
    Nontaxable benefits
    $20,046
    Filer's total
    $160,392

  • Michael Sleighter

    WORKING FOREMAN

    Total calculated
    $149,683
    From this org
    $108,364
    From related orgs
    $0
    Other
    $41,319
    Hours/week
    40

  • Landon Clark

    WORKING FOREMAN

    Total calculated
    $136,243
    From this org
    $108,362
    From related orgs
    $0
    Other
    $27,881
    Hours/week
    40

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 · Independent compensation consultant
  • 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
2023
Filed
2 May 2024
IRS schema version
2023v5.0
Source object
202401239349301215

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