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Nonprofiteer
← RAVALLI COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by RAVALLI COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$19,298,450
Total expenses
$18,847,274
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,741,823
Investment income
$476,686
Other revenue
$79,941
Total assets, end of year
$45,342,716
Total liabilities, end of year
$27,006,408
Net assets or fund balances, end of year
$18,336,308
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: Electricity Sales

    total $18,691,452 · related or exempt $18,691,452

  • 2b · Program service revenue: Other Revenue

    total $50,371 · related or exempt $50,371

  • 3 · Investment income

    total $199,848 · related or exempt $160,487 · excluded $39,361

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

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    other assets $276,838

  • 7c · Gain or loss

    other assets $276,838

  • 7d · Net gain or loss

    total $276,838 · related or exempt $276,838

  • 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: Other non-op revenue

    total $422 · related or exempt $422

  • 11b · Other revenue: Other operating revenue

    total $79,519 · related or exempt $79,519

  • 11e · Other revenue, total

    $79,941

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 $751,593

  • 5 · Compensation of officers, directors and key employees

    total $749,465

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $3,087,642

  • 8 · Pension plan contributions

    total $702,249

  • 9 · Other employee benefits

    total $803,308

  • 10 · Payroll taxes

    total $324,048

  • 11a · Fees: management

    total $10,054

  • 11b · Fees: legal

    total $17,253

  • 11c · Fees: accounting

    total $42,137

  • 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 $17,332

  • 13 · Office expenses

    total $11,312

  • 14 · Information technology

    total $81,039

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $275,078

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $26,109

  • 20 · Interest

    total $985,022

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $2,009,252

  • 23 · Insurance

    total $109,681

  • 24a · Other expenses: Cost of Power

    total $8,280,349

  • 24b · Other expenses: Distribution Operations

    total $1,966,430

  • 24c · Other expenses: Admin & General

    total $1,063,001

  • 24d · Other expenses: Distribution Maintenance

    total $1,035,166

  • 24e · All other expenses

    total -$3,500,246

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,635 · end of year $9,828

  • 2 · Savings and temporary cash investments

    beginning of year $554,730 · end of year $277,531

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $2,546,907 · end of year $2,704,810

  • 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 $1,015,208 · end of year $1,631,953

  • 9 · Prepaid expenses and deferred charges

    beginning of year $533,042 · end of year $433,664

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

    $65,622,609

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

    $27,606,850

  • 10c · Land, buildings and equipment, net

    beginning of year $38,270,896 · end of year $38,015,759

  • 11 · Investments: publicly traded securities

    beginning of year $203,191 · end of year $167,275

  • 12 · Investments: other securities

    beginning of year $352,873 · end of year $729,886

  • 13 · Investments: program-related

    beginning of year $1,190,276 · end of year $1,280,789

  • 14 · Intangible assets

    beginning of year $96,412 · end of year $91,221

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,245,508 · end of year $2,542,976

  • 23 · Secured mortgages and notes payable

    beginning of year $22,155,099 · end of year $22,108,940

  • 25 · Other liabilities

    beginning of year $2,849,606 · end of year $2,354,492

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

    beginning of year $2,098,578 · end of year $2,451,451

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,418,379 · end of year $15,884,857

Mission and programs · 2022

Mission

Rural electric cooperative established to provide electrical power and services to its members located in the Southwestern portion of Montana.

  • Cooperative resources and activities are related to providing distribution of electrical power and services to members and patrons located in Southwest Montana.

As filed on the 2022 return.

Listed in Part VII

  • Mark Grotbo

    General Manager

    Total calculated
    $425,009
    From this org
    $314,967
    From related orgs
    $0
    Other
    $110,042
    Hours/week
    46.3

    Schedule J breakdown matched by us

    Base
    $304,026
    Bonus
    not reported
    Other
    $10,941
    Deferred
    $85,850
    Nontaxable benefits
    $24,192
    Filer's total
    $425,009

  • Kyle Kearns

    Mgr of Ops

    Total calculated
    $231,815
    From this org
    $155,313
    From related orgs
    $0
    Other
    $76,502
    Hours/week
    45.5

    Schedule J breakdown matched by us

    Base
    $144,832
    Bonus
    $10,000
    Other
    $481
    Deferred
    $46,410
    Nontaxable benefits
    $30,092
    Filer's total
    $231,815

  • Robert Lee

    Dir of Support Ser

    Total calculated
    $208,419
    From this org
    $141,347
    From related orgs
    $0
    Other
    $67,072
    Hours/week
    48.8

    Schedule J breakdown matched by us

    Base
    $133,474
    Bonus
    $5,000
    Other
    $2,873
    Deferred
    $44,384
    Nontaxable benefits
    $22,688
    Filer's total
    $208,419

  • Daniel Kratofil

    Service Lineman

    Total calculated
    $205,511
    From this org
    $142,323
    From related orgs
    $0
    Other
    $63,188
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $140,824
    Bonus
    not reported
    Other
    $1,499
    Deferred
    $36,423
    Nontaxable benefits
    $26,765
    Filer's total
    $205,511

  • Todd Irwin

    Apparataus Lineman

    Total calculated
    $199,781
    From this org
    $135,390
    From related orgs
    $0
    Other
    $64,391
    Hours/week
    47.3

    Schedule J breakdown matched by us

    Base
    $134,570
    Bonus
    not reported
    Other
    $820
    Deferred
    $34,688
    Nontaxable benefits
    $29,703
    Filer's total
    $199,781

  • Matthew Olson

    Lineman

    Total calculated
    $182,524
    From this org
    $134,567
    From related orgs
    $0
    Other
    $47,957
    Hours/week
    47.2

    Schedule J breakdown matched by us

    Base
    $134,121
    Bonus
    not reported
    Other
    $446
    Deferred
    $34,275
    Nontaxable benefits
    $13,682
    Filer's total
    $182,524

  • Nicole Ulibarri

    CFO

    Total calculated
    $143,650
    From this org
    $115,521
    From related orgs
    $0
    Other
    $28,129
    Hours/week
    44.2

  • Rex S Griffin

    President

    Total calculated
    $30,244
    From this org
    $30,244
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Brien Weber

    Director

    Total calculated
    $27,250
    From this org
    $27,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.7

  • Larry Trexler

    Director

    Total calculated
    $26,588
    From this org
    $26,588
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.1

  • Dennis L Schneiter

    Sec/Treasurer

    Total calculated
    $25,538
    From this org
    $25,538
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.2

  • Robert Popham

    Vice President

    Total calculated
    $23,972
    From this org
    $23,972
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.7

  • Robert S Bailey

    Director

    Total calculated
    $23,655
    From this org
    $23,655
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.3

  • Fred Thomas

    Director

    Total calculated
    $12,224
    From this org
    $12,224
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Wayne D Olson

    Director

    Total calculated
    $11,335
    From this org
    $11,335
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

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.

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.

  • Grizzly Broadband LLC

    C corp · Broadband · MT · 100% owned · share of income $5,268,499 · share of assets $8,509,321

    Directly controlled by RCEC

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202343139349303204

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