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Nonprofiteer
← RUSK COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by RUSK COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$63,340,914
Total expenses
$63,340,914
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$62,970,672
Investment income
$243,905
Other revenue
$126,337
Total assets, end of year
$140,411,983
Total liabilities, end of year
$63,048,046
Net assets or fund balances, end of year
$77,363,937
Program services expenses (Part IX)
$63,340,914
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$63,340,914

Program services were 100.0% 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: PATRONAGE CAPITAL

    total $856,059 · related or exempt $856,059

  • 2b · Program service revenue: SALE OF ELECTRICITY

    total $62,114,613 · related or exempt $62,114,613

  • 3 · Investment income

    total $212,932 · excluded $212,932

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $118,305

  • 6c · Rental income or loss

    real property $118,305

  • 6d · Net rental income or loss

    total $118,305 · excluded $118,305

  • 7a · Gross sales of assets other than inventory

    other assets $33,861

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

    other assets $2,888

  • 7c · Gain or loss

    other assets $30,973

  • 7d · Net gain or loss

    total $30,973 · excluded $30,973

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $8,032 · related or exempt $8,032

  • 11e · Other revenue, total

    $8,032

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $2,019,070 · program services $2,019,070

  • 5 · Compensation of officers, directors and key employees

    total $723,788 · program services $723,788

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $37,663 · program services $37,663

  • 13 · Office expenses

    total $292,842 · program services $292,842

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $38,868 · program services $38,868

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $1,880,687 · program services $1,880,687

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $4,420,091 · program services $4,420,091

  • 23 · Insurance

    total $84,591 · program services $84,591

  • 24a · Other expenses: COST OF PURCHASED POWER

    total $40,577,929 · program services $40,577,929

  • 24b · Other expenses: DISTRIBUTION EXPENSE-MAINTENAN

    total $5,880,900 · program services $5,880,900

  • 24c · Other expenses: DISTRIBUTION EXPENSE-OPERATION

    total $3,359,101 · program services $3,359,101

  • 24d · Other expenses: CUSTOMER ACCOUNTS EXPENSE

    total $1,940,000 · program services $1,940,000

  • 24e · All other expenses

    total $2,085,384 · program services $2,085,384

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,279,189 · end of year $1,081,752

  • 2 · Savings and temporary cash investments

    beginning of year $800,000 · end of year $600,000

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $5,380,801 · end of year $3,951,770

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,425,378 · end of year $1,757,842

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,331,394 · end of year $2,897,175

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

    $152,328,236

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

    $45,769,073

  • 10c · Land, buildings and equipment, net

    beginning of year $102,668,056 · end of year $106,559,163

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $22,979,335 · end of year $23,564,280

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $1 · end of year $1

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,583,126 · end of year $9,056,634

  • 23 · Secured mortgages and notes payable

    beginning of year $51,529,410 · end of year $52,670,986

  • 25 · Other liabilities

    beginning of year $1,493,141 · end of year $1,320,426

  • 31 · Retained earnings, endowment or other funds

    beginning of year $76,258,477 · end of year $77,363,937

Mission and programs · 2023

Mission

THE MISSION OF RCEC IS TO PROVIDE RELIABLE, EFFICIENT, AND ECONOMICAL SERVICES TO OUR CUSTOMERS THAT ENHANCE THEIR QUALITY OF LIFE. RCEC PROVIDED ELECTRICAL ENERGY TO OVER 15,000 COOPERATIVE MEMBERS.

  • PROVIDE ELECTRICAL ENERGY AND SERVICES TO OVER 15,000 MEMBERS.

    Expenses $63,340,914

As filed on the 2023 return.

Listed in Part VII

  • Rhett Reid

    General Manager

    Total calculated
    $349,530
    From this org
    $231,928
    From related orgs
    $0
    Other
    $117,602
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $231,928
    Bonus
    not reported
    Other
    not reported
    Deferred
    $88,035
    Nontaxable benefits
    $29,567
    Filer's total
    $349,530

  • Belinda Kern

    MNGR OF OFF. SERV.

    Total calculated
    $263,448
    From this org
    $139,601
    From related orgs
    $0
    Other
    $123,847
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,601
    Bonus
    not reported
    Other
    not reported
    Deferred
    $100,196
    Nontaxable benefits
    $23,651
    Filer's total
    $263,448

  • Jim Dickeson

    SUPER OF STRAT SER

    Total calculated
    $239,463
    From this org
    $136,879
    From related orgs
    $0
    Other
    $102,584
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $136,879
    Bonus
    not reported
    Other
    not reported
    Deferred
    $80,337
    Nontaxable benefits
    $22,247
    Filer's total
    $239,463

  • Ruben Contreras

    CREW FOREMAN

    Total calculated
    $220,553
    From this org
    $156,248
    From related orgs
    $0
    Other
    $64,305
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $156,248
    Bonus
    not reported
    Other
    not reported
    Deferred
    $50,265
    Nontaxable benefits
    $14,040
    Filer's total
    $220,553

  • Brendon Dane

    FINANCE MANAGER

    Total calculated
    $202,018
    From this org
    $134,107
    From related orgs
    $0
    Other
    $67,911
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $134,107
    Bonus
    not reported
    Other
    not reported
    Deferred
    $38,992
    Nontaxable benefits
    $28,919
    Filer's total
    $202,018

  • Clay Long

    CREW FOREMAN

    Total calculated
    $201,673
    From this org
    $142,975
    From related orgs
    $0
    Other
    $58,698
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $142,975
    Bonus
    not reported
    Other
    not reported
    Deferred
    $30,208
    Nontaxable benefits
    $28,490
    Filer's total
    $201,673

  • Robert J Williams

    CHIEF OPERATE OFF

    Total calculated
    $200,122
    From this org
    $142,428
    From related orgs
    $0
    Other
    $57,694
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $142,428
    Bonus
    not reported
    Other
    not reported
    Deferred
    $29,297
    Nontaxable benefits
    $28,397
    Filer's total
    $200,122

  • Kenneth Keeling

    President

    Total calculated
    $35,813
    From this org
    $35,813
    From related orgs
    $0
    Other
    $0
    Hours/week
    30

  • Emily Whitworth

    SECRETARY TREAS

    Total calculated
    $35,413
    From this org
    $35,413
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Richard Hacker

    ASSIST SEC/TREA

    Total calculated
    $33,513
    From this org
    $33,513
    From related orgs
    $0
    Other
    $0
    Hours/week
    22

  • Sam Allison

    Director

    Total calculated
    $25,815
    From this org
    $25,815
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Jay Innerarity

    Vice President

    Total calculated
    $23,531
    From this org
    $23,531
    From related orgs
    $0
    Other
    $0
    Hours/week
    26

  • Tony Cavaliere

    Director

    Total calculated
    $9,700
    From this org
    $9,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Nora Tipps

    Director

    Total calculated
    $8,455
    From this org
    $8,455
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

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
2023
Filed
26 July 2024
IRS schema version
2023v5.1
Source object
202432089349300138

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