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Nonprofiteer
← YELLOWSTONE VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by YELLOWSTONE VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$42,019,034
Total expenses
$41,306,402
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$39,344,524
Investment income
$355,627
Other revenue
$2,318,883
Total assets, end of year
$94,817,571
Total liabilities, end of year
$64,923,701
Net assets or fund balances, end of year
$29,893,870
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: UTILITIES & SERVICES

    total $39,344,524 · related or exempt $39,344,524

  • 3 · Investment income

    total $355,627 · related or exempt $355,627

  • 6a · Gross rents

    personal property $47,580

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $47,580

  • 6d · Net rental income or loss

    total $47,580 · unrelated business $6,240 · excluded $41,340

  • 11a · Other revenue: CAPITAL CREDITS ALLOC

    total $2,134,708 · related or exempt $2,134,708

  • 11b · Other revenue: WAPA WHEELING CREDIT

    total $157,500 · related or exempt $157,500

  • 11c · Other revenue: MERCHANDISING

    total -$20,905 · related or exempt -$20,905

  • 11e · Other revenue, total

    $2,271,303

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,003,790

  • 5 · Compensation of officers, directors and key employees

    total $1,114,812

  • 7 · Other salaries and wages

    total $115,459

  • 9 · Other employee benefits

    total -$144,408

  • 11b · Fees: legal

    total $36,809

  • 11c · Fees: accounting

    total $17,070

  • 11d · Fees: lobbying

    total $2,957

  • 11g · Fees: other

    total $147,059

  • 13 · Office expenses

    total $656,120

  • 19 · Conferences, conventions and meetings

    total $156,568

  • 20 · Interest

    total $2,500,568

  • 22 · Depreciation, depletion and amortization

    total $3,518,377

  • 23 · Insurance

    total $50,387

  • 24a · Other expenses: COST OF POWER

    total $21,378,275

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $4,781,163

  • 24c · Other expenses: DISTRIBUTION MAINTENANC

    total $1,951,971

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $826,699

  • 24e · All other expenses

    total $2,192,726

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $358,754 · end of year $1,405,979

  • 2 · Savings and temporary cash investments

    beginning of year $6,399,686 · end of year $3,957,312

  • 4 · Accounts receivable

    beginning of year $2,746,026 · end of year $2,742,104

  • 8 · Inventories for sale or use

    beginning of year $1,164,395 · end of year $1,428,212

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,613 · end of year $62,179

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

    $118,176,255

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

    $44,125,594

  • 10c · Land, buildings and equipment, net

    beginning of year $68,897,216 · end of year $74,050,661

  • 13 · Investments: program-related

    beginning of year $9,732,945 · end of year $10,434,146

  • 15 · Other assets

    beginning of year $790,724 · end of year $736,978

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,693,835 · end of year $4,525,355

  • 23 · Secured mortgages and notes payable

    beginning of year $54,808,495 · end of year $58,749,152

  • 25 · Other liabilities

    beginning of year $1,495,791 · end of year $1,649,194

  • 29 · Capital stock, trust principal or current funds

    beginning of year $2,032,729 · end of year $4,525,636

  • 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 $27,148,509 · end of year $25,368,234

Mission and programs · 2023

Mission

RURAL ELECTRIC COOPERATIVE ESTABLISHED TO PROVIDE ELECTRICAL POWER AND SERVICES TO ITS MEMBERS LOCATED IN THE CENTRAL PORTION OF MONTANA.

Activities or mission (Part I)

YELLOWSTONE VALLEY ELECTRIC COOPERATIVE, INC. OPERATES AS AN RURAL ELECTRIC UTILITY ON A NON PROFIT BASIS BY PROVIDING ELECTRICAL POWER AND UTILITY SERVICES TO ITS MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF MONTANA. THE COOPERATIVE IS EXEMPT UNDER SECTION 501 (C) (12).

  • COOPERATIVE RESOURCES AND ACTIVITIES ARE RELATED TO PROVIDING ELECTRICAL POWER AND SERVICES TO APPROXIMATELY 18,567 MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF THE STATE OF MONTANA.

As filed on the 2023 return.

Listed in Part VII

  • Dave Kelsey

    VICE PRESIDENT

    Total calculated
    $56,162
    From this org
    $30,471
    From related orgs
    $0
    Other
    $25,691
    Hours/week
    12

  • Daniel R Swartz

    DIRECTOR

    Total calculated
    $34,734
    From this org
    $9,043
    From related orgs
    $0
    Other
    $25,691
    Hours/week
    2

  • Jwilliam Keller

    DIRECTOR

    Total calculated
    $12,126
    From this org
    $7,645
    From related orgs
    $0
    Other
    $4,481
    Hours/week
    2

  • Larry Kaufman

    PRESIDENT

    Total calculated
    $25,444
    From this org
    $11,601
    From related orgs
    $0
    Other
    $13,843
    Hours/week
    7

  • Greg Neibauer

    DIRECTOR

    Total calculated
    $27,280
    From this org
    $16,595
    From related orgs
    $0
    Other
    $10,685
    Hours/week
    5

  • Scott Hofferber

    SECRETARY/TREASURER

    Total calculated
    $30,929
    From this org
    $5,238
    From related orgs
    $0
    Other
    $25,691
    Hours/week
    2

  • Chris White

    DIRECTOR

    Total calculated
    $16,812
    From this org
    $16,812
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brandon J Wittman

    GENERAL MANAGER

    Total calculated
    $551,781
    From this org
    $429,772
    From related orgs
    $0
    Other
    $122,009
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $429,772
    Bonus
    $0
    Other
    $0
    Deferred
    $92,538
    Nontaxable benefits
    $29,471
    Filer's total
    $551,781

  • Monti Wetsch Shaules

    OFFICE MANAGER

    Total calculated
    $236,070
    From this org
    $172,978
    From related orgs
    $0
    Other
    $63,092
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,978
    Bonus
    $0
    Other
    $0
    Deferred
    $49,875
    Nontaxable benefits
    $13,217
    Filer's total
    $236,070

  • Mariah Wittman

    CONTROLLER

    Total calculated
    $123,477
    From this org
    $92,937
    From related orgs
    $0
    Other
    $30,540
    Hours/week
    40

  • Jared Haworth

    LINEMAN

    Total calculated
    $243,756
    From this org
    $166,141
    From related orgs
    $0
    Other
    $77,615
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,141
    Bonus
    $0
    Other
    $0
    Deferred
    $52,598
    Nontaxable benefits
    $25,017
    Filer's total
    $243,756

  • Dan Shaules

    LINEMAN

    Total calculated
    $264,535
    From this org
    $195,680
    From related orgs
    $0
    Other
    $68,855
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,680
    Bonus
    $0
    Other
    $0
    Deferred
    $55,417
    Nontaxable benefits
    $13,438
    Filer's total
    $264,535

  • James Webber

    ENGINEER

    Total calculated
    $242,073
    From this org
    $164,641
    From related orgs
    $0
    Other
    $77,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,641
    Bonus
    $0
    Other
    $0
    Deferred
    $49,233
    Nontaxable benefits
    $28,199
    Filer's total
    $242,073

  • Cody Houska

    LINEMAN

    Total calculated
    $229,742
    From this org
    $156,960
    From related orgs
    $0
    Other
    $72,782
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,960
    Bonus
    $0
    Other
    $0
    Deferred
    $47,913
    Nontaxable benefits
    $24,869
    Filer's total
    $229,742

  • Robert Trost

    LINEMAN

    Total calculated
    $193,763
    From this org
    $148,659
    From related orgs
    $0
    Other
    $45,104
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,659
    Bonus
    $0
    Other
    $0
    Deferred
    $20,235
    Nontaxable benefits
    $24,869
    Filer's total
    $193,763

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

  • 2 · Substantiation required before reimbursing expenses
  • 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

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
28 May 2024
IRS schema version
2023v5.0
Source object
202441849349301404

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