Form 990 for tax year 2025
Filed by LOST RIVER ELECTRIC COOPERATIVE INC.
Totals
- Total revenue
- $8,353,382
- Total expenses
- $7,362,591
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $8,259,707
- Investment income
- $93,675
- Other revenue
- $0
- Total assets, end of year
- $12,796,378
- Total liabilities, end of year
- $1,709,006
- Net assets or fund balances, end of year
- $11,087,372
- Program services expenses (Part IX)
- $7,350,284
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $7,362,591
Program services were 99.8% 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: OTHER REVENUE
total $99,117 · related or exempt $99,117
-
2b · Program service revenue: POWER SALES
total $8,160,590 · related or exempt $8,160,590
-
3 · Investment income
total $93,675 · excluded $93,675
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
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 $0
-
5 · Compensation of officers, directors and key employees
total $112,518 · program services $100,211
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,283,011 · program services $1,283,011
-
8 · Pension plan contributions
total $665,062 · program services $665,062
-
9 · Other employee benefits
total $475,168 · program services $475,168
-
10 · Payroll taxes
total $106,281 · program services $106,281
-
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 $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $18,343 · program services $18,343
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $495,247 · program services $495,247
-
23 · Insurance
total $0
-
24a · Other expenses: COST OF POWER
total $3,576,916 · program services $3,576,916
-
24b · Other expenses: DISTRIBUTION - OPERATION
total $175,441 · program services $175,441
-
24c · Other expenses: TAXES
total $157,536 · program services $157,536
-
24d · Other expenses: DISTRIBUTION - MAINTENANCE
total $95,893 · program services $95,893
-
24e · All other expenses
total $201,175 · program services $201,175
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $429,988 · end of year $172,690
-
2 · Savings and temporary cash investments
beginning of year $725,861 · end of year $205,548
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $231,122 · end of year $540,815
-
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 $1,020,075 · end of year $1,066,536
-
9 · Prepaid expenses and deferred charges
beginning of year $56,426 · end of year $52,617
-
10a · Land, buildings and equipment: cost or other basis
$22,918,639
-
10b · Land, buildings and equipment: accumulated depreciation
$12,506,673
-
10c · Land, buildings and equipment, net
beginning of year $9,876,235 · end of year $10,411,966
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $345,640 · end of year $346,206
-
17 · Accounts payable and accrued expenses
beginning of year $748,580 · end of year $686,778
-
23 · Secured mortgages and notes payable
beginning of year $1,009,790 · end of year $1,022,228
-
31 · Retained earnings, endowment or other funds
beginning of year $10,926,977 · end of year $11,087,372
Mission and programs · 2025
Mission
DISTRIBUTE POWER TO THE LOST RIVER VALLEY.
-
PROVIDED ELECTRICITY DISTRIBUTION TO LOST RIVER VALLEY.
Expenses $7,362,591
As filed on the 2025 return.
Listed in Part VII
-
Brad GamettBRAD GAMETT
CEO
- Total calculated
- $330,434
- From this org
- $190,713
- From related orgs
- $0
- Other
- $139,721
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $190,713
- Bonus
- not reported
- Other
- not reported
- Deferred
- $100,124
- Nontaxable benefits
- $39,597
- Filer's total
- $330,434
-
Donald BetzerDONALD BETZER
OPERATIONS MANAGER
- Total calculated
- $262,157
- From this org
- $145,941
- From related orgs
- $0
- Other
- $116,216
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $145,941
- Bonus
- not reported
- Other
- not reported
- Deferred
- $76,619
- Nontaxable benefits
- $39,597
- Filer's total
- $262,157
-
Linda KimballLINDA KIMBALL
CONTROLLER
- Total calculated
- $237,493
- From this org
- $129,768
- From related orgs
- $0
- Other
- $107,725
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $129,768
- Bonus
- not reported
- Other
- not reported
- Deferred
- $68,128
- Nontaxable benefits
- $39,597
- Filer's total
- $237,493
-
Patrick SeefriedPATRICK SEEFRIED
HEAD LINEMAN
- Total calculated
- $232,362
- From this org
- $126,403
- From related orgs
- $0
- Other
- $105,959
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $126,403
- Bonus
- not reported
- Other
- not reported
- Deferred
- $66,362
- Nontaxable benefits
- $39,597
- Filer's total
- $232,362
-
Joshua HaroldsenJOSHUA HAROLDSEN
LINEMAN
- Total calculated
- $217,915
- From this org
- $116,930
- From related orgs
- $0
- Other
- $100,985
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $116,930
- Bonus
- not reported
- Other
- not reported
- Deferred
- $61,388
- Nontaxable benefits
- $39,597
- Filer's total
- $217,915
-
Randy R PurserRANDY R PURSER
President
- Total calculated
- $13,200
- From this org
- $13,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Maddie Mocettini-HansenMADDIE MOCETTINI-HANSEN
Secretary
- Total calculated
- $12,676
- From this org
- $12,676
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
James D McKelveyJAMES D MCKELVEY
Director
- Total calculated
- $12,676
- From this org
- $12,676
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Stacy MoormanSTACY MOORMAN
Director
- Total calculated
- $12,676
- From this org
- $12,676
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Trent BrownleeTRENT BROWNLEE
Director
- Total calculated
- $12,369
- From this org
- $12,369
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Bret L ZollingerBRET L ZOLLINGER
Director
- Total calculated
- $12,307
- From this org
- $12,307
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Travis BuckwalterTRAVIS BUCKWALTER
Director
- Total calculated
- $12,307
- From this org
- $12,307
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Wrangler WilliamsWRANGLER WILLIAMS
Director
- Total calculated
- $12,307
- From this org
- $12,307
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Susan M HarrisSUSAN M HARRIS
Vice President
- Total calculated
- $12,000
- From this org
- $12,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 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
- 3 · Written employment contract
- 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
- 23 July 2026
- IRS schema version
- 2025v4.1
- Source object
- 202602049349300940
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