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Nonprofiteer
← WEST RIVER ELECTRIC ASSOCIATION INC

Form 990 for tax year 2024

Filed by WEST RIVER ELECTRIC ASSOCIATION INC.

Totals

Total revenue
$48,956,741
Total expenses
$48,601,686
Contributions and grants received
$0
Grants paid
$67,479
Program service revenue
$48,647,733
Investment income
$210,353
Other revenue
$98,655
Total assets, end of year
$179,291,218
Total liabilities, end of year
$122,031,313
Net assets or fund balances, end of year
$57,259,905
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: SALE OF POWER

    total $46,644,141 · related or exempt $46,644,141

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $1,691,509 · related or exempt $1,691,509

  • 2c · Program service revenue: OTHER OPERATING REVENUE

    total $312,083 · related or exempt $312,083

  • 3 · Investment income

    total $205,459 · excluded $205,459

  • 6a · Gross rents

    real property $191,042

  • 6b · Less rental expenses

    real property $125,119

  • 6c · Rental income or loss

    real property $65,923

  • 6d · Net rental income or loss

    total $65,923 · unrelated business $65,923

  • 7a · Gross sales of assets other than inventory

    other assets $7,176

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

    other assets $2,282

  • 7c · Gain or loss

    other assets $4,894

  • 7d · Net gain or loss

    total $4,894 · excluded $4,894

  • 10a · Gross sales of inventory

    $725,987

  • 10b · Cost of goods sold

    $693,255

  • 10c · Net income from sales of inventory

    total $32,732 · related or exempt $32,732

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $67,479

  • 4 · Benefits paid to or for members

    total $4,588,130

  • 5 · Compensation of officers, directors and key employees

    total $792,705

  • 7 · Other salaries and wages

    total $5,853,398

  • 8 · Pension plan contributions

    total $1,430,987

  • 10 · Payroll taxes

    total $475,567

  • 20 · Interest

    total $3,735,459

  • 22 · Depreciation, depletion and amortization

    total $5,309,010

  • 24a · Other expenses: UBI TAXES

    total $8,517

  • 24b · Other expenses: COST OF POWER

    total $22,749,554

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $2,893,758

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $1,779,043

  • 24e · All other expenses

    total -$1,081,921

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,489,336 · end of year $3,099,583

  • 4 · Accounts receivable

    beginning of year $4,620,149 · end of year $5,274,725

  • 7 · Other notes and loans receivable

    beginning of year $142,500 · end of year $52,500

  • 8 · Inventories for sale or use

    beginning of year $4,752,868 · end of year $6,150,897

  • 9 · Prepaid expenses and deferred charges

    beginning of year $129,103 · end of year $211,693

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

    $198,199,218

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

    $55,187,137

  • 10c · Land, buildings and equipment, net

    beginning of year $131,559,052 · end of year $143,012,081

  • 12 · Investments: other securities

    beginning of year $1,607,444 · end of year $625,444

  • 13 · Investments: program-related

    beginning of year $20,003,711 · end of year $20,845,990

  • 15 · Other assets

    beginning of year $31,545 · end of year $18,305

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,917,785 · end of year $4,240,126

  • 21 · Escrow or custodial account liability

    beginning of year $17,073 · end of year $17,843

  • 23 · Secured mortgages and notes payable

    beginning of year $103,376,713 · end of year $116,378,447

  • 24 · Unsecured notes and loans payable

    beginning of year $1,500,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,265,474 · end of year $1,394,897

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $53,258,663 · end of year $57,259,905

Mission and programs · 2024

Mission

TO SERVE OUR MEMBERS BEST INTERESTS.

Activities or mission (Part I)

COOPERATIVE - ELECTRICITY TO MEMBERS

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 20,674 MEMBERS AND MAINTAINED 2,711.18 MILES OF LINE. ADDED 78.66 MILES OF LINE AND REMOVED 57.26 MILES OF LINE.

As filed on the 2024 return.

Listed in Part VII

  • Andy Moon

    PRESIDENT

    Total calculated
    $16,360
    From this org
    $16,350
    From related orgs
    $0
    Other
    $10
    Hours/week
    7.5

  • Stan Anders

    VICE-PRESIDENT

    Total calculated
    $14,535
    From this org
    $14,525
    From related orgs
    $0
    Other
    $10
    Hours/week
    10

  • Jamie Lewis

    SECRETARY

    Total calculated
    $13,310
    From this org
    $13,300
    From related orgs
    $0
    Other
    $10
    Hours/week
    7.2

  • Charles Sloan

    TREASURER

    Total calculated
    $16,435
    From this org
    $16,425
    From related orgs
    $0
    Other
    $10
    Hours/week
    16.5

  • Larry Eisenbraun

    DIRECTOR

    Total calculated
    $12,956
    From this org
    $12,950
    From related orgs
    $0
    Other
    $6
    Hours/week
    6.6

  • Marcia Arneson

    DIRECTOR

    Total calculated
    $16,010
    From this org
    $16,000
    From related orgs
    $0
    Other
    $10
    Hours/week
    7.2

  • Sue Peters

    DIRECTOR

    Total calculated
    $16,110
    From this org
    $16,100
    From related orgs
    $0
    Other
    $10
    Hours/week
    7.6

  • Peter Blake

    DIRECTOR

    Total calculated
    $13,085
    From this org
    $13,075
    From related orgs
    $0
    Other
    $10
    Hours/week
    4.6

  • Howard Knuppe

    DIRECTOR (END OCT)

    Total calculated
    $12,180
    From this org
    $12,175
    From related orgs
    $0
    Other
    $5
    Hours/week
    3.8

  • Steven Edoff

    DIRECTOR (BEG OCT)

    Total calculated
    $3,152
    From this org
    $3,150
    From related orgs
    $0
    Other
    $2
    Hours/week
    3.8

  • Richard Johnson

    CEO / GENERAL MANAGER

    Total calculated
    $534,798
    From this org
    $304,105
    From related orgs
    $0
    Other
    $230,693
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $303,605
    Bonus
    $500
    Other
    $0
    Deferred
    $204,277
    Nontaxable benefits
    $28,220
    Filer's total
    $536,602

  • Dawn Hilgenkamp

    CFO / MANAGER OF FINANCE

    Total calculated
    $279,514
    From this org
    $160,469
    From related orgs
    $0
    Other
    $119,045
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,819
    Bonus
    $500
    Other
    $150
    Deferred
    $86,254
    Nontaxable benefits
    $33,766
    Filer's total
    $280,489

  • Mike Letcher

    OPERATIONS MANAGER

    Total calculated
    $243,402
    From this org
    $173,335
    From related orgs
    $0
    Other
    $70,067
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,685
    Bonus
    $500
    Other
    $150
    Deferred
    $37,817
    Nontaxable benefits
    $33,290
    Filer's total
    $244,442

  • Lucas Schreurs

    JOURNEYMAN LINEMAN

    Total calculated
    $167,750
    From this org
    $144,763
    From related orgs
    $0
    Other
    $22,987
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,113
    Bonus
    $500
    Other
    $150
    Deferred
    $9,054
    Nontaxable benefits
    $14,492
    Filer's total
    $168,309

  • Jenny Patterson

    OFFICE MANAGER

    Total calculated
    $207,522
    From this org
    $142,590
    From related orgs
    $0
    Other
    $64,932
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,940
    Bonus
    $500
    Other
    $150
    Deferred
    $37,564
    Nontaxable benefits
    $28,221
    Filer's total
    $208,375

  • Lance Steiger

    STAKING FOREMAN

    Total calculated
    $198,556
    From this org
    $138,841
    From related orgs
    $0
    Other
    $59,715
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $138,341
    Bonus
    $500
    Other
    $0
    Deferred
    $29,509
    Nontaxable benefits
    $30,820
    Filer's total
    $199,170

  • Robert Raker

    MANAGER OF COMMUNICATION

    Total calculated
    $213,607
    From this org
    $137,900
    From related orgs
    $0
    Other
    $75,707
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $137,400
    Bonus
    $500
    Other
    $0
    Deferred
    $45,253
    Nontaxable benefits
    $31,278
    Filer's total
    $214,431

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 · Compensation survey or study
  • 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)

SCHEDULE J, PART II, COLUMN C
COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR EACH PERSON REQUIRED TO BE REPORTED. ACTUAL EXPENSE OF THE COOPERATIVE MAY BE MORE OR LESS THAN THE CHANGE IN THE ACTUARIAL VALUE. CHANGE IN ACTUARIAL VALUE (INCLUDED IN COLUMN C): RICHARD JOHNSON $188,916 DAWN HILGENKAMP $77,846 MIKE LETCHER $25,291 LUCAS SCHREURS $4,206 JENNY PATTERSON $30,351 LANCE STEIGER $23,944 ROBERT RAKER $38,186 ACTUAL EXPENSE OF THE COOPERATIVE: RICHARD JOHNSON $70,380 DAWN HILGENKAMP $37,864 MIKE LETCHER $33,017 LUCAS SCHREURS $21,715 JENNY PATTERSON $33,261 LANCE STEIGER $23,886 ROBERT RAKER $32,023

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

  • SD ELLSWORTH DEVELOPMENT

    $10,000

    SPONSORSHIP

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
22 July 2025
IRS schema version
2024v5.2
Source object
202542039349300419

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