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Nonprofiteer
← RAVALLI COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by RAVALLI COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$20,690,346
Total expenses
$20,715,246
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$20,528,298
Investment income
$161,666
Other revenue
$382
Total assets, end of year
$47,187,474
Total liabilities, end of year
$29,949,813
Net assets or fund balances, end of year
$17,237,661
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 $19,920,789 · related or exempt $19,920,789

  • 2b · Program service revenue: Other deferred revenue

    total $607,509 · related or exempt $607,509

  • 3 · Investment income

    total $153,666 · related or exempt $114,115 · excluded $39,551

  • 7a · Gross sales of assets other than inventory

    other assets $8,000

  • 7c · Gain or loss

    other assets $8,000

  • 7d · Net gain or loss

    total $8,000 · related or exempt $8,000

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Other nonoperating rev

    total $382 · related or exempt $382

  • 11e · Other revenue, total

    $382

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $685,766

  • 5 · Compensation of officers, directors and key employees

    total $683,729

  • 7 · Other salaries and wages

    total $3,392,065

  • 8 · Pension plan contributions

    total $916,106

  • 9 · Other employee benefits

    total $870,058

  • 10 · Payroll taxes

    total $324,488

  • 11a · Fees: management

    total $42,422

  • 11b · Fees: legal

    total $21,557

  • 11c · Fees: accounting

    total $21,942

  • 11f · Fees: investment management

    total $174

  • 11g · Fees: other

    total $19,662

  • 12 · Advertising and promotion

    total $19,633

  • 13 · Office expenses

    total $13,308

  • 14 · Information technology

    total $63,693

  • 17 · Travel

    total $394,263

  • 20 · Interest

    total $1,020,424

  • 22 · Depreciation, depletion and amortization

    total $2,094,695

  • 23 · Insurance

    total $112,801

  • 24a · Other expenses: Cost of power

    total $8,685,620 · program services $8,685,620

  • 24b · Other expenses: Admin and general

    total $469,417 · program services $469,417

  • 24c · Other expenses: Distribution

    total $863,423 · program services $863,423

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $70,707 · end of year $29,293

  • 2 · Savings and temporary cash investments

    beginning of year $432,588 · end of year $441,326

  • 4 · Accounts receivable

    beginning of year $2,748,198 · end of year $2,631,182

  • 8 · Inventories for sale or use

    beginning of year $1,812,378 · end of year $1,926,029

  • 9 · Prepaid expenses and deferred charges

    beginning of year $339,601 · end of year $314,217

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

    $70,473,713

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

    $31,024,816

  • 10c · Land, buildings and equipment, net

    beginning of year $38,632,206 · end of year $39,448,897

  • 11 · Investments: publicly traded securities

    beginning of year $580,503 · end of year $831,610

  • 12 · Investments: other securities

    beginning of year $35,909 · end of year $34,825

  • 13 · Investments: program-related

    beginning of year $1,368,501 · end of year $1,449,266

  • 14 · Intangible assets

    beginning of year $86,030 · end of year $80,829

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,601,817 · end of year $2,778,486

  • 23 · Secured mortgages and notes payable

    beginning of year $22,161,169 · end of year $23,078,293

  • 24 · Unsecured notes and loans payable

    end of year $850,000

  • 25 · Other liabilities

    beginning of year $3,637,084 · end of year $3,243,034

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

    beginning of year $2,828,464 · end of year $2,134,487

  • 31 · Retained earnings, endowment or other funds

    beginning of year $14,878,087 · end of year $15,103,174

Mission and programs · 2024

Mission

To provide electrical power and services to its members located in its service area

  • Cooperative used its resources and activities to distribute and provide electrical power and services to its members located in southwest Montana.

As filed on the 2024 return.

Listed in Part VII

  • Mark Grotbo

    General Manager

    Total calculated
    $660,768
    From this org
    $534,502
    From related orgs
    $0
    Other
    $126,266
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $367,661
    Bonus
    $160,000
    Other
    $6,841
    Deferred
    $101,898
    Nontaxable benefits
    $24,368
    Filer's total
    $660,768

  • Kyle Kearns

    Total calculated
    $277,197
    From this org
    $189,978
    From related orgs
    $0
    Other
    $87,219
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $177,330
    Bonus
    $12,000
    Other
    $648
    Deferred
    $56,703
    Nontaxable benefits
    $30,516
    Filer's total
    $277,197

  • Dan Kratofil

    Total calculated
    $219,499
    From this org
    $156,736
    From related orgs
    $0
    Other
    $62,763
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $154,167
    Bonus
    not reported
    Other
    $2,569
    Deferred
    $40,285
    Nontaxable benefits
    $22,478
    Filer's total
    $219,499

  • Kenneth Buhler

    Total calculated
    $212,939
    From this org
    $143,661
    From related orgs
    $0
    Other
    $69,278
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $143,284
    Bonus
    not reported
    Other
    $377
    Deferred
    $39,354
    Nontaxable benefits
    $29,924
    Filer's total
    $212,939

  • Brent Ballard

    Total calculated
    $202,775
    From this org
    $151,256
    From related orgs
    $0
    Other
    $51,519
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $150,863
    Bonus
    not reported
    Other
    $393
    Deferred
    $21,625
    Nontaxable benefits
    $29,894
    Filer's total
    $202,775

  • Brennen Lund

    Total calculated
    $201,778
    From this org
    $145,619
    From related orgs
    $0
    Other
    $56,159
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $145,300
    Bonus
    not reported
    Other
    $319
    Deferred
    $26,271
    Nontaxable benefits
    $29,888
    Filer's total
    $201,778

  • Nicole Ulibarri

    Chief Financial Officer

    Total calculated
    $197,773
    From this org
    $149,227
    From related orgs
    $0
    Other
    $48,546
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $140,173
    Bonus
    $8,000
    Other
    $1,054
    Deferred
    $26,489
    Nontaxable benefits
    $22,057
    Filer's total
    $197,773

  • Rex Griffin

    Director

    Total calculated
    $31,905
    From this org
    $31,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Brien Weber

    Secretary-Treasurer

    Total calculated
    $26,552
    From this org
    $26,552
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Dennis Schneiter

    Vice President

    Total calculated
    $26,356
    From this org
    $26,356
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Robert Popham

    President

    Total calculated
    $25,966
    From this org
    $25,966
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Larry Trexler

    Director

    Total calculated
    $25,816
    From this org
    $25,816
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Robert Bailey

    Director

    Total calculated
    $25,125
    From this org
    $25,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Fred Thomas

    Director

    Total calculated
    $24,016
    From this org
    $24,016
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

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

None.

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.

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.

  • NA

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 $14,506,610 · share of assets $45,971,351 · controlled entity

    Directly controlled by RCEC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349309945

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