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Nonprofiteer
← BUTTE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by BUTTE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$10,055,564
Total expenses
$9,079,441
Contributions and grants received
$0
Grants paid
$18,258
Program service revenue
$517,463
Investment income
$262,869
Other revenue
$9,275,232
Total assets, end of year
$72,498,010
Total liabilities, end of year
$42,743,898
Net assets or fund balances, end of year
$29,754,112
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.

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

    total $440,165 · related or exempt $440,165

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $77,298 · related or exempt $77,298

  • 3 · Investment income

    total $205,686 · excluded $205,686

  • 6a · Gross rents

    personal property $54,923

  • 6b · Less rental expenses

    personal property $549

  • 6c · Rental income or loss

    personal property $54,374

  • 6d · Net rental income or loss

    total $54,374 · related or exempt $40,223 · unrelated business $14,151

  • 7a · Gross sales of assets other than inventory

    other assets $57,183

  • 7c · Gain or loss

    other assets $57,183

  • 7d · Net gain or loss

    total $57,183 · excluded $57,183

  • 10a · Gross sales of inventory

    $17,792,158

  • 10b · Cost of goods sold

    $8,903,617

  • 10c · Net income from sales of inventory

    total $8,888,541 · related or exempt $8,888,541

  • 11a · Other revenue: FERC REFUND

    total $332,317 · excluded $332,317

  • 11e · Other revenue, total

    $332,317

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,258

  • 4 · Benefits paid to or for members

    total $566,711

  • 5 · Compensation of officers, directors and key employees

    total $494,234

  • 7 · Other salaries and wages

    total $1,216,525

  • 8 · Pension plan contributions

    total $341,391

  • 9 · Other employee benefits

    total $366,184

  • 10 · Payroll taxes

    total $116,392

  • 11b · Fees: legal

    total $26,250

  • 11c · Fees: accounting

    total $36,500

  • 11g · Fees: other

    total $650,392

  • 12 · Advertising and promotion

    total $88,667

  • 13 · Office expenses

    total $306,582

  • 14 · Information technology

    total $249,517

  • 16 · Occupancy

    total $375,323

  • 17 · Travel

    total $417,996

  • 19 · Conferences, conventions and meetings

    total $42,480

  • 20 · Interest

    total $1,278,410

  • 22 · Depreciation, depletion and amortization

    total $2,346,441

  • 23 · Insurance

    total $2,511

  • 24a · Other expenses: ADMINISTRATION EXPENSE

    total $106,143

  • 24b · Other expenses: CUSTOMER SERVICE

    total $30,207

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $2,327

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $417,741 · end of year $449,373

  • 2 · Savings and temporary cash investments

    beginning of year $2,068,398 · end of year $1,711,273

  • 4 · Accounts receivable

    beginning of year $1,485,154 · end of year $1,556,166

  • 8 · Inventories for sale or use

    beginning of year $1,764,663 · end of year $1,406,406

  • 9 · Prepaid expenses and deferred charges

    beginning of year $151,311 · end of year $224,026

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

    $90,619,903

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

    $33,368,365

  • 10c · Land, buildings and equipment, net

    beginning of year $56,399,944 · end of year $57,251,538

  • 13 · Investments: program-related

    beginning of year $9,488,950 · end of year $9,899,228

  • 17 · Accounts payable and accrued expenses

    beginning of year $961,369 · end of year $990,045

  • 19 · Deferred revenue

    beginning of year $1,270,266 · end of year $1,556,406

  • 23 · Secured mortgages and notes payable

    beginning of year $39,828,330 · end of year $38,987,106

  • 25 · Other liabilities

    beginning of year $1,080,161 · end of year $1,210,341

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

    beginning of year $975,519 · end of year $1,117,473

  • 31 · Retained earnings, endowment or other funds

    beginning of year $27,660,516 · end of year $28,636,639

Mission and programs · 2025

Mission

THE MISSION OF BUTTE ELECTRIC COOPERATIVE IS TO CONTINUALLY IMPROVE CUSTOMER SERVICES; PROVIDE SAFE, RELIABLE, AND COMPETITIVELY PRICED ELECTRICITY; AND CONTINUE TO LEAD IN DEVELOPING OUR COMMUNITIES FOR THE BENEFIT OF OUR MEMBERS.

  • SALE OF ELECTRICITY TO APPROXIMATELY 7,472 CONSUMER ACCOUNTS.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matthew Sleep

    CEO

    Total calculated
    $250,755
    From this org
    $193,150
    From related orgs
    $0
    Other
    $57,605
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,150
    Bonus
    not reported
    Other
    not reported
    Deferred
    $50,128
    Nontaxable benefits
    $7,477
    Filer's total
    $250,755

  • Brett Fosheim

    OPERATIONS M

    Total calculated
    $190,006
    From this org
    $141,858
    From related orgs
    $0
    Other
    $48,148
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,858
    Bonus
    not reported
    Other
    not reported
    Deferred
    $20,101
    Nontaxable benefits
    $28,047
    Filer's total
    $190,006

  • Kimberly Wince

    CFO

    Total calculated
    $155,671
    From this org
    $111,792
    From related orgs
    $0
    Other
    $43,879
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,792
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,832
    Nontaxable benefits
    $28,047
    Filer's total
    $155,671

  • Travis Schenk

    TREASURER

    Total calculated
    $12,556
    From this org
    $12,556
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Cris Miller

    PRESIDENT

    Total calculated
    $11,126
    From this org
    $11,126
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steve Smeenk

    DIRECTOR

    Total calculated
    $10,635
    From this org
    $10,635
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Thomas Brunner

    SECRETARY

    Total calculated
    $10,574
    From this org
    $10,574
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jessica Casteel

    DIRECTOR

    Total calculated
    $10,191
    From this org
    $10,191
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dan Marrs

    VICE-PRESIDE

    Total calculated
    $9,306
    From this org
    $9,306
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Chandy Olson

    DIRECTOR

    Total calculated
    $8,212
    From this org
    $8,212
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dan Hefner

    DIRECTOR

    Total calculated
    $8,024
    From this org
    $8,024
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Mortenson

    ASST SECRETA

    Total calculated
    $7,185
    From this org
    $7,185
    From related orgs
    $0
    Other
    $0
    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 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
2025
Filed
4 August 2026
IRS schema version
2025v4.0
Source object
202602169349301605

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