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Nonprofiteer
← WHITE RIVER ELEC ASSOC INC

Form 990 for tax year 2024

Filed by WHITE RIVER ELEC ASSOC INC.

Totals

Total revenue
$49,358,826
Total expenses
$49,358,826
Contributions and grants received
$0
Grants paid
$22,000
Program service revenue
$48,710,983
Investment income
$352,499
Other revenue
$295,344
Total assets, end of year
$95,865,120
Total liabilities, end of year
$22,661,846
Net assets or fund balances, end of year
$73,203,274
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: Sale of Electricity

    total $46,611,046 · related or exempt $46,611,046

  • 2b · Program service revenue: Capital Credits

    total $2,065,514 · related or exempt $2,065,514

  • 2c · Program service revenue: Other Operating

    total $34,423 · related or exempt $34,423

  • 3 · Investment income

    total $354,133 · excluded $354,133

  • 6a · Gross rents

    real property $60,431

  • 6b · Less rental expenses

    real property $11,778

  • 6c · Rental income or loss

    real property $48,653

  • 6d · Net rental income or loss

    total $48,653 · unrelated business $10,722 · excluded $37,931

  • 7a · Gross sales of assets other than inventory

    other assets $17,873

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

    other assets $19,507

  • 7c · Gain or loss

    other assets -$1,634

  • 7d · Net gain or loss

    total -$1,634 · excluded -$1,634

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Non-0perating

    total $246,691 · related or exempt $246,691

  • 11e · Other revenue, total

    $246,691

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 $17,000

  • 4 · Benefits paid to or for members

    total $5,388,134

  • 5 · Compensation of officers, directors and key employees

    total $1,402,080

  • 7 · Other salaries and wages

    total $1,172,183

  • 20 · Interest

    total $569,048

  • 22 · Depreciation, depletion and amortization

    total $1,249,836

  • 24a · Other expenses: Cost of Power

    total $36,662,791 · program services $36,662,791

  • 24b · Other expenses: Distribution Expense

    total $1,436,112 · program services $1,436,112

  • 24c · Other expenses: Admin & General

    total $1,417,664 · program services $1,417,664

  • 24d · Other expenses: Member Services

    total $132,278 · program services $132,278

  • 24e · All other expenses

    total -$93,300

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,882,597 · end of year -$1,580,385

  • 2 · Savings and temporary cash investments

    beginning of year $868,351 · end of year $9,326,803

  • 4 · Accounts receivable

    beginning of year $4,379,586 · end of year $3,641,595

  • 8 · Inventories for sale or use

    beginning of year $2,051,090 · end of year $2,408,077

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,184 · end of year $607,119

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

    $49,384,802

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

    $18,475,368

  • 10c · Land, buildings and equipment, net

    beginning of year $29,532,145 · end of year $30,909,434

  • 13 · Investments: program-related

    beginning of year $48,766,296 · end of year $50,546,327

  • 15 · Other assets

    beginning of year $242,282 · end of year $6,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,606,089 · end of year $5,534,719

  • 19 · Deferred revenue

    beginning of year $3,879,051 · end of year $1,250,000

  • 23 · Secured mortgages and notes payable

    beginning of year $14,778,329 · end of year $14,330,887

  • 25 · Other liabilities

    beginning of year $2,291,513 · end of year $1,546,240

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

    beginning of year $6,330,588 · end of year $5,909,203

  • 31 · Retained earnings, endowment or other funds

    beginning of year $63,925,961 · end of year $67,294,071

Mission and programs · 2024

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 2024 return.

Listed in Part VII

  • Alan J Michalewicz

    CEO

    Total calculated
    $572,786
    From this org
    $370,887
    From related orgs
    $0
    Other
    $201,899
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $355,387
    Bonus
    $15,500
    Other
    not reported
    Deferred
    $121,353
    Nontaxable benefits
    $80,546
    Filer's total
    $572,786

  • Dale K Dunbar

    CFO

    Total calculated
    $449,036
    From this org
    $266,628
    From related orgs
    $0
    Other
    $182,408
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,128
    Bonus
    $5,500
    Other
    not reported
    Deferred
    $114,711
    Nontaxable benefits
    $67,697
    Filer's total
    $449,036

  • Christopher Reidinger

    Manager of Engineering

    Total calculated
    $267,003
    From this org
    $189,453
    From related orgs
    $0
    Other
    $77,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,953
    Bonus
    $3,500
    Other
    not reported
    Deferred
    $32,493
    Nontaxable benefits
    $45,057
    Filer's total
    $267,003

  • Brett A Berthelson

    Manager of Operations

    Total calculated
    $266,023
    From this org
    $184,038
    From related orgs
    $0
    Other
    $81,985
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,538
    Bonus
    $3,500
    Other
    not reported
    Deferred
    $37,109
    Nontaxable benefits
    $44,876
    Filer's total
    $266,023

  • James H Sheridan

    Manager of Accounting

    Total calculated
    $232,642
    From this org
    $165,505
    From related orgs
    $0
    Other
    $67,137
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,005
    Bonus
    $3,500
    Other
    not reported
    Deferred
    $45,033
    Nontaxable benefits
    $22,104
    Filer's total
    $232,642

  • Jason F Kracht

    Superintendent

    Total calculated
    $224,333
    From this org
    $149,839
    From related orgs
    $0
    Other
    $74,494
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,089
    Bonus
    $1,750
    Other
    not reported
    Deferred
    $29,947
    Nontaxable benefits
    $44,547
    Filer's total
    $224,333

  • Todd C Gerloff

    Project CoordField Rep

    Total calculated
    $209,043
    From this org
    $122,949
    From related orgs
    $0
    Other
    $86,094
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,949
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $41,318
    Nontaxable benefits
    $44,776
    Filer's total
    $209,043

  • Chris S Stanworth

    Working Foreman

    Total calculated
    $205,780
    From this org
    $146,540
    From related orgs
    $0
    Other
    $59,240
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,005
    Bonus
    $1,535
    Other
    not reported
    Deferred
    $15,418
    Nontaxable benefits
    $43,822
    Filer's total
    $205,780

  • Mark A Rogers

    Director

    Total calculated
    $24,977
    From this org
    $24,977
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Kelly G Sheridan

    Director

    Total calculated
    $24,827
    From this org
    $24,827
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.66

  • Shane P Phelan

    Director

    Total calculated
    $22,277
    From this org
    $22,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.88

  • Hal Pearce

    Director

    Total calculated
    $21,977
    From this org
    $21,977
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.82

  • Bryce Ducey

    Director

    Total calculated
    $18,227
    From this org
    $18,227
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.15

  • Brett Dearman

    Director

    Total calculated
    $18,227
    From this org
    $18,227
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.19

  • Ronald K Hilkey

    Director

    Total calculated
    $17,105
    From this org
    $17,105
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

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.

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 $188,132 · share of assets $2,031,947

    Directly controlled by W R Electric Assoc Inc

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523179349312357

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