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Nonprofiteer
← PEACE RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by PEACE RIVER ELECTRIC COOPERATIVE INC.

What the amendment changed

Compared with the return it replaced , filed 31 October 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$140,368,590
Total expenses
$140,368,590
Contributions and grants received
$0
Grants paid
$20,000
Program service revenue
$140,463,745
Investment income
-$118,355
Other revenue
$23,200
Total assets, end of year
$346,115,413
Total liabilities, end of year
$233,734,362
Net assets or fund balances, end of year
$112,381,051
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 $139,211,993 · related or exempt $139,211,993

  • 2b · Program service revenue: METER LEASES

    total $547,199 · related or exempt $547,199

  • 2c · Program service revenue: POLE RENTAL

    total $354,375 · excluded $354,375

  • 2d · Program service revenue: CAPITAL CREDITS - OTHER

    total $350,178 · excluded $350,178

  • 3 · Investment income

    total $62,553 · excluded $62,553

  • 6a · Gross rents

    real property $23,200

  • 6c · Rental income or loss

    real property $23,200

  • 6d · Net rental income or loss

    total $23,200 · excluded $23,200

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

    other assets $180,908

  • 7c · Gain or loss

    other assets -$180,908

  • 7d · Net gain or loss

    total -$180,908 · related or exempt -$180,908

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000

  • 4 · Benefits paid to or for members

    total $7,840,177

  • 5 · Compensation of officers, directors and key employees

    total $619,130

  • 7 · Other salaries and wages

    total $1,334,108

  • 20 · Interest

    total $5,988,184

  • 22 · Depreciation, depletion and amortization

    total $10,787,536

  • 24a · Other expenses: COST OF POWER

    total $90,523,681

  • 24b · Other expenses: DISTRIBUTION EXPENSE - MA

    total $10,550,034

  • 24c · Other expenses: ADMINISTRATIVE & GENERAL

    total $5,428,782

  • 24d · Other expenses: DISTRIBUTION EXPENSE - OP

    total $4,907,739

  • 24e · All other expenses

    total $2,369,219

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,749,894 · end of year $7,871,599

  • 4 · Accounts receivable

    beginning of year $12,451,390 · end of year $28,351,187

  • 8 · Inventories for sale or use

    beginning of year $10,356,513 · end of year $16,220,398

  • 9 · Prepaid expenses and deferred charges

    beginning of year $99,441 · end of year $3,243,768

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

    $354,589,921

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

    $94,506,048

  • 10c · Land, buildings and equipment, net

    beginning of year $245,883,637 · end of year $260,083,873

  • 13 · Investments: program-related

    beginning of year $27,692,937 · end of year $30,047,379

  • 15 · Other assets

    beginning of year $251,282 · end of year $297,209

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,696,641 · end of year $22,481,406

  • 23 · Secured mortgages and notes payable

    beginning of year $168,694,533 · end of year $179,482,538

  • 24 · Unsecured notes and loans payable

    end of year $17,096,437

  • 25 · Other liabilities

    beginning of year $15,592,805 · end of year $14,673,981

  • 29 · Capital stock, trust principal or current funds

    beginning of year $225,735 · end of year $239,515

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

    beginning of year $3,176,402 · end of year $3,810,170

  • 31 · Retained earnings, endowment or other funds

    beginning of year $100,098,978 · end of year $108,331,366

Mission and programs · 2022

Mission

TO PROVIDE OUR MEMBERS RELIABLE ELECTRIC SERVICE AND EXCELLENT CUSTOMER SERVICE AT AFFORDABLE RATES.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS. 58,897 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

As filed on the 2022 return.

Listed in Part VII

  • RANDALL W SHAW

    GENERAL MANA

    Total calculated
    $525,181
    From this org
    $363,072
    From related orgs
    $0
    Other
    $162,109
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $359,541
    Bonus
    not reported
    Other
    $3,531
    Deferred
    $141,648
    Nontaxable benefits
    $20,461
    Filer's total
    $525,181

  • LOUISE F BLACKMAN

    VP - MEMBER

    Total calculated
    $363,255
    From this org
    $217,286
    From related orgs
    $0
    Other
    $145,969
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $215,380
    Bonus
    not reported
    Other
    $1,906
    Deferred
    $135,374
    Nontaxable benefits
    $10,595
    Filer's total
    $363,255

  • A TUCKER LEMLEY

    VP FINANCE &

    Total calculated
    $275,608
    From this org
    $210,744
    From related orgs
    $0
    Other
    $64,864
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $210,277
    Bonus
    not reported
    Other
    $467
    Deferred
    $45,054
    Nontaxable benefits
    $19,810
    Filer's total
    $275,608

  • PAUL A ROBERTS

    VP OF ENGINE

    Total calculated
    $273,575
    From this org
    $203,953
    From related orgs
    $0
    Other
    $69,622
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $201,537
    Bonus
    not reported
    Other
    $2,416
    Deferred
    $48,512
    Nontaxable benefits
    $21,110
    Filer's total
    $273,575

  • VAN CRAWFORD

    VP OF OPERAT

    Total calculated
    $258,801
    From this org
    $174,147
    From related orgs
    $0
    Other
    $84,654
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $168,109
    Bonus
    not reported
    Other
    $6,038
    Deferred
    $76,157
    Nontaxable benefits
    $8,497
    Filer's total
    $258,801

  • CHARLOTTE HESTON

    VP OF CORPOR

    Total calculated
    $162,868
    From this org
    $149,992
    From related orgs
    $0
    Other
    $12,876
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $146,341
    Bonus
    not reported
    Other
    $3,651
    Deferred
    $4,555
    Nontaxable benefits
    $8,321
    Filer's total
    $162,868

  • ELLEN BACHMAN

    DIRECTOR

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • MARIE DASHER

    DIRECTOR

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • LEONARD CRAWLEY

    DIRECTOR

    Total calculated
    $11,449
    From this org
    $11,449
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • HOLLIS ALBRITTON JR

    SECRETARY/TR

    Total calculated
    $10,100
    From this org
    $10,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • WILLIE DAWES

    DIRECTOR

    Total calculated
    $9,300
    From this org
    $9,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • JOHN MARTIN

    PRESIDENT

    Total calculated
    $9,200
    From this org
    $9,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • BRUCE VICKERS

    DIRECTOR

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • CHRIS PORTALE

    ASST SECRETA

    Total calculated
    $6,900
    From this org
    $6,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • KENNETH ODEN

    VICE PRESIDE

    Total calculated
    $5,600
    From this org
    $5,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
25 April 2025
IRS schema version
2022v5.0
Source object
202511199349302246

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