Skip to content
Nonprofiteer
← WHITE RIVER ELEC ASSOC INC

Form 990 for tax year 2023

Filed by WHITE RIVER ELEC ASSOC INC.

Totals

Total revenue
$51,176,786
Total expenses
$50,157,306
Contributions and grants received
$19,480
Grants paid
$20,000
Program service revenue
$50,581,851
Investment income
$239,431
Other revenue
$336,024
Total assets, end of year
$94,811,531
Total liabilities, end of year
$24,554,982
Net assets or fund balances, end of year
$70,256,549
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.

  • 1e · Government grants (contributions)

    $19,480

  • 2a · Program service revenue: Sale of Electricity

    total $50,179,748 · related or exempt $50,179,748

  • 2b · Program service revenue: Capital Credits

    total $364,518 · related or exempt $364,518

  • 2c · Program service revenue: Miscellaneous

    total $37,585 · related or exempt $37,585

  • 3 · Investment income

    total $239,431 · excluded $239,431

  • 6a · Gross rents

    real property $69,625

  • 6b · Less rental expenses

    real property $2,509

  • 6c · Rental income or loss

    real property $67,116

  • 6d · Net rental income or loss

    total $67,116 · unrelated business $28,091 · excluded $39,025

  • 11a · Other revenue: Non-0perating

    total $268,908 · related or exempt $268,908

  • 11e · Other revenue, total

    $268,908

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,000

  • 2 · Grants to domestic individuals

    total $15,000

  • 4 · Benefits paid to or for members

    total $1,942,107

  • 5 · Compensation of officers, directors and key employees

    total $1,004,884

  • 7 · Other salaries and wages

    total $1,878,079

  • 20 · Interest

    total $530,603

  • 22 · Depreciation, depletion and amortization

    total $1,224,654

  • 24a · Other expenses: Cost of Power

    total $38,410,229 · program services $38,410,229

  • 24b · Other expenses: Distribution Expense

    total $2,607,012 · program services $2,607,012

  • 24c · Other expenses: Admin & General

    total $2,195,435 · program services $2,195,435

  • 24d · Other expenses: Member Services

    total $344,303 · program services $344,303

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,220,742 · end of year $8,882,597

  • 2 · Savings and temporary cash investments

    beginning of year $968,351 · end of year $868,351

  • 4 · Accounts receivable

    beginning of year $4,037,350 · end of year $4,379,586

  • 8 · Inventories for sale or use

    beginning of year $1,877,928 · end of year $2,051,090

  • 9 · Prepaid expenses and deferred charges

    beginning of year $848,423 · end of year $89,184

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

    $46,906,807

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

    $17,374,662

  • 10c · Land, buildings and equipment, net

    beginning of year $31,057,587 · end of year $29,532,145

  • 13 · Investments: program-related

    beginning of year $48,355,324 · end of year $48,766,296

  • 15 · Other assets

    beginning of year $470,560 · end of year $242,282

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,173,733 · end of year $3,606,089

  • 19 · Deferred revenue

    beginning of year $988,855 · end of year $3,879,051

  • 23 · Secured mortgages and notes payable

    beginning of year $14,200,223 · end of year $14,778,329

  • 25 · Other liabilities

    beginning of year $5,024,727 · end of year $2,291,513

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

    beginning of year $5,422,807 · end of year $6,330,588

  • 31 · Retained earnings, endowment or other funds

    beginning of year $64,025,920 · end of year $63,925,961

Mission and programs · 2023

Mission

Strives to Provide its Members/Consumers with safe, reliable and reasonable electric energy and other services at the most reasonable costs possible while remaining committed to customer and community service

  • White River Electric Association, Inc. is a rural electric distribution Cooperative serving parts of Rio Blanco, Moffat, and Garfield counties in Colorado.

As filed on the 2023 return.

Listed in Part VII

  • Alan J Michalewicz

    CEO

    Total calculated
    $433,909
    From this org
    $338,077
    From related orgs
    $0
    Other
    $95,832
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,077
    Bonus
    $11,000
    Other
    not reported
    Deferred
    $40,530
    Nontaxable benefits
    $55,302
    Filer's total
    $433,909

  • Dale K Dunbar

    CFO

    Total calculated
    $290,086
    From this org
    $217,895
    From related orgs
    $0
    Other
    $72,191
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,895
    Bonus
    $6,000
    Other
    not reported
    Deferred
    $26,949
    Nontaxable benefits
    $45,242
    Filer's total
    $290,086

  • Brett A Berthelson

    Manager of Operations

    Total calculated
    $224,835
    From this org
    $173,073
    From related orgs
    $0
    Other
    $51,762
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,073
    Bonus
    $3,000
    Other
    not reported
    Deferred
    $9,267
    Nontaxable benefits
    $42,495
    Filer's total
    $224,835

  • Christopher Reidinger

    Manager of Engineering

    Total calculated
    $221,827
    From this org
    $169,710
    From related orgs
    $0
    Other
    $52,117
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,710
    Bonus
    $3,000
    Other
    not reported
    Deferred
    $9,634
    Nontaxable benefits
    $42,483
    Filer's total
    $221,827

  • Todd C Gerloff

    Project CoordField Rep

    Total calculated
    $191,544
    From this org
    $140,364
    From related orgs
    $0
    Other
    $51,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,714
    Bonus
    $1,650
    Other
    not reported
    Deferred
    $8,250
    Nontaxable benefits
    $42,930
    Filer's total
    $191,544

  • Jason F Kracht

    Superintendent

    Total calculated
    $185,139
    From this org
    $135,929
    From related orgs
    $0
    Other
    $49,210
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,429
    Bonus
    $2,500
    Other
    not reported
    Deferred
    $7,646
    Nontaxable benefits
    $41,564
    Filer's total
    $185,139

  • James H Sheridan

    Controller

    Total calculated
    $181,539
    From this org
    $154,310
    From related orgs
    $0
    Other
    $27,229
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,060
    Bonus
    $2,250
    Other
    not reported
    Deferred
    $8,408
    Nontaxable benefits
    $18,821
    Filer's total
    $181,539

  • Mark A Rogers

    Director

    Total calculated
    $27,248
    From this org
    $27,248
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.33

  • Shane P Phelan

    Director

    Total calculated
    $23,198
    From this org
    $23,198
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.29

  • Hal Pearce

    Director

    Total calculated
    $21,398
    From this org
    $21,398
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.63

  • Kelly G Sheridan

    Director

    Total calculated
    $20,648
    From this org
    $20,648
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.46

  • Brett Dearman

    Director

    Total calculated
    $20,648
    From this org
    $20,648
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.33

  • Bryce Ducey

    Director

    Total calculated
    $18,548
    From this org
    $18,548
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

  • Ronald K Hilkey

    Director

    Total calculated
    $17,512
    From this org
    $17,512
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.27

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
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Listed persons compensation information (Part I, line 4)
Alan J. Michalewicz Nonqualified $22,500Dale K. Dunbar Nonqualified $14,710

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.

  • White River Energy Company

    C Corp · Propane · CO · 100% owned · share of income $137,506 · share of assets $1,892,813

    Directly controlled by W R Electric Assoc Inc

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202433059349301923

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.