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Nonprofiteer
← RUSHSHELBY ENERGY RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by RUSHSHELBY ENERGY RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$51,641,871
Total expenses
$50,392,913
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$50,255,260
Investment income
$65,875
Other revenue
$1,320,736
Total assets, end of year
$106,961,014
Total liabilities, end of year
$57,584,673
Net assets or fund balances, end of year
$49,376,341
Program services expenses (Part IX)
$50,392,913
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$50,392,913

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: ELECTRIC SALES

    total $49,875,758 · related or exempt $49,875,758

  • 2b · Program service revenue: PENALTIES AND MISC REVENUE

    total $379,502 · related or exempt $379,502

  • 3 · Investment income

    total $173,601 · related or exempt $173,601

  • 6a · Gross rents

    real property $137,654

  • 6b · Less rental expenses

    real property $8,123

  • 6c · Rental income or loss

    real property $129,531

  • 6d · Net rental income or loss

    total $129,531 · related or exempt $129,531

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

    other assets $107,726

  • 7c · Gain or loss

    other assets -$107,726

  • 7d · Net gain or loss

    total -$107,726 · related or exempt -$107,726

  • 10a · Gross sales of inventory

    $52,191

  • 10b · Cost of goods sold

    $51,369

  • 10c · Net income from sales of inventory

    total $822 · related or exempt $822

  • 11a · Other revenue: G&T CAPITAL CREDIT ALLOCATIONS

    total $1,031,033 · related or exempt $1,031,033

  • 11b · Other revenue: OTHER CAPITAL CREDIT ALLOCATIONS

    total $159,350 · related or exempt $159,350

  • 11e · Other revenue, total

    $1,190,383

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $886,471 · program services $886,471

  • 5 · Compensation of officers, directors and key employees

    total $1,626,863 · program services $1,626,863

  • 7 · Other salaries and wages

    total $1,071,127 · program services $1,071,127

  • 8 · Pension plan contributions

    total $1,020,324 · program services $1,020,324

  • 11b · Fees: legal

    total $72,764 · program services $72,764

  • 11c · Fees: accounting

    total $23,947 · program services $23,947

  • 11g · Fees: other

    total $306,756 · program services $306,756

  • 12 · Advertising and promotion

    total $61,531 · program services $61,531

  • 13 · Office expenses

    total $15,841 · program services $15,841

  • 14 · Information technology

    total $558,953 · program services $558,953

  • 16 · Occupancy

    total $322,296 · program services $322,296

  • 19 · Conferences, conventions and meetings

    total $41,290 · program services $41,290

  • 20 · Interest

    total $1,903,641 · program services $1,903,641

  • 21 · Payments to affiliates

    total $216,379 · program services $216,379

  • 22 · Depreciation, depletion and amortization

    total $3,504,528 · program services $3,504,528

  • 23 · Insurance

    total $129,616 · program services $129,616

  • 24a · Other expenses: PURCHASED POWER

    total $34,221,015 · program services $34,221,015

  • 24b · Other expenses: OPERATION, MAINT, AND C

    total $1,966,932 · program services $1,966,932

  • 24c · Other expenses: RIGHT OF WAY

    total $1,690,623 · program services $1,690,623

  • 24d · Other expenses: MISCELLANEOUS

    total $403,291 · program services $403,291

  • 24e · All other expenses

    total $348,725 · program services $348,725

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,458,140 · end of year $3,184,383

  • 4 · Accounts receivable

    beginning of year $3,857,716 · end of year $4,505,583

  • 7 · Other notes and loans receivable

    beginning of year $161,193 · end of year $161,193

  • 8 · Inventories for sale or use

    beginning of year $1,385,754 · end of year $1,572,218

  • 9 · Prepaid expenses and deferred charges

    beginning of year -$42,851 · end of year $1,210

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

    $92,010,725

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

    $22,363,577

  • 10c · Land, buildings and equipment, net

    beginning of year $68,878,334 · end of year $69,647,148

  • 13 · Investments: program-related

    beginning of year $23,477,748 · end of year $27,430,335

  • 15 · Other assets

    beginning of year $579,237 · end of year $458,944

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,522,409 · end of year $4,382,839

  • 23 · Secured mortgages and notes payable

    beginning of year $49,084,470 · end of year $53,106,263

  • 25 · Other liabilities

    beginning of year $76,047 · end of year $95,571

  • 29 · Capital stock, trust principal or current funds

    beginning of year $76,693 · end of year $73,252

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

    beginning of year $3,196,645 · end of year $3,575,616

  • 31 · Retained earnings, endowment or other funds

    beginning of year $44,799,007 · end of year $45,727,473

Mission and programs · 2022

Mission

RUSHSHELBY ENERGY IS A DISTRIBUTION ELECTRIC COOPERATIVE PROVIDING ELECTRICITY AND SERVICES TO THE MEMBERS OF OUR RURAL ELECTRIC MEMBERSHIP COOPERATIVE

Activities or mission (Part I)

RUSHSHELBY ENERGY IS A DISTRIBUTION ELECTRIC COOPERATIVE PROVIDING SALES OF ELECTRICITY AND RELATED EQUIPMENT AND SERVICES TO MEMBERS OF OUR RURAL ELECTRIC MEMBERSHIP COOPERATIVE.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

    Expenses $50,392,913 · Revenue $51,445,643

As filed on the 2022 return.

Listed in Part VII

  • Charlie Smith

    PRESIDENT

    Total calculated
    $15,200
    From this org
    $15,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.85

  • Dean Bacon

    VICE PRESIDENT

    Total calculated
    $12,350
    From this org
    $12,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.78

  • Bruce Everhart

    TREASURER

    Total calculated
    $11,150
    From this org
    $11,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.67

  • Jill Koch

    SECRETARY

    Total calculated
    $11,050
    From this org
    $11,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.13

  • Keith Theobald

    DIRECTOR

    Total calculated
    $11,400
    From this org
    $11,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.98

  • Mark Nigh

    DIRECTOR

    Total calculated
    $11,500
    From this org
    $11,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.09

  • Fred Smith

    DIRECTOR

    Total calculated
    $10,400
    From this org
    $10,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.34

  • Ann Sipes

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.51

  • Robert Stroup

    DIRECTOR

    Total calculated
    $11,000
    From this org
    $11,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    13.21

  • Chris Chastain

    CEO

    Total calculated
    $284,758
    From this org
    $195,079
    From related orgs
    $0
    Other
    $89,679
    Hours/week
    46.75

    Schedule J breakdown matched by us

    Base
    $195,079
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $195,079

  • Linda Hood

    CFO

    Total calculated
    $217,156
    From this org
    $132,976
    From related orgs
    $0
    Other
    $84,180
    Hours/week
    43.29

  • Greg File

    JOURNEYMAN LINEMAN (FOREMAN)

    Total calculated
    $201,333
    From this org
    $127,328
    From related orgs
    $0
    Other
    $74,005
    Hours/week
    47.89

  • Cameron Cox

    JOURNEYMAN LINEMAN

    Total calculated
    $174,900
    From this org
    $128,506
    From related orgs
    $0
    Other
    $46,394
    Hours/week
    48.57

  • Brad Means

    VP OPERATIONS

    Total calculated
    $207,223
    From this org
    $132,699
    From related orgs
    $0
    Other
    $74,524
    Hours/week
    49.94

  • David Toll

    VP ADMINISTRATION & MEMBER MANAGEMENT

    Total calculated
    $216,249
    From this org
    $135,611
    From related orgs
    $0
    Other
    $80,638
    Hours/week
    42.53

  • Tony Adkins

    JOURNEYMAN LINEMAN (SERVICEMAN)

    Total calculated
    $219,194
    From this org
    $156,484
    From related orgs
    $0
    Other
    $62,710
    Hours/week
    53.18

    Schedule J breakdown matched by us

    Base
    $156,484
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $156,484

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 · Independent compensation consultant
  • 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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • RSE PROPANE

    IN · 50% owned · share of income $25,054 · share of assets $360,415

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RSE SERVICES

    IN · 100% owned · share of income $33,079 · share of assets $244,538

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202323129349303792

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