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Nonprofiteer
← RIVERSIDE ELECTRIC COMPANY LTD

Form 990 for tax year 2023

Filed by RIVERSIDE ELECTRIC COMPANY LTD.

Totals

Total revenue
$1,426,195
Total expenses
$977,950
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$963,661
Investment income
$1,729
Other revenue
$460,805
Total assets, end of year
$2,566,918
Total liabilities, end of year
$182,251
Net assets or fund balances, end of year
$2,384,667
Program services expenses (Part IX)
$957,704
Management and general expenses
$20,246
Fundraising expenses
$0
Program service expenses (Part III)
$957,704

Program services were 97.9% 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: RES. & COMMERCIAL ENER

    total $1,293,205 · related or exempt $1,293,205

  • 2b · Program service revenue: IRRIGATION ENERGY SALE

    total $479,265 · related or exempt $479,265

  • 2c · Program service revenue: COST OF ENERGY

    total -$808,809 · related or exempt -$808,809

  • 3 · Investment income

    total $1,729 · related or exempt $1,729

  • 11a · Other revenue: MATERIALS

    total $363,244 · related or exempt $363,244

  • 11b · Other revenue: CONSTRUCTION EQUITY

    total $83,048 · related or exempt $83,048

  • 11c · Other revenue: MISCELLANEOUS

    total $14,513 · related or exempt $14,513

  • 11e · Other revenue, total

    $460,805

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $133,489 · program services $127,649 · management and general $5,840

  • 7 · Other salaries and wages

    total $206,791 · program services $206,791

  • 9 · Other employee benefits

    total $70,304 · program services $70,304

  • 10 · Payroll taxes

    total $33,061 · program services $33,061

  • 11c · Fees: accounting

    total $14,406 · management and general $14,406

  • 13 · Office expenses

    total $20,607 · program services $20,607

  • 22 · Depreciation, depletion and amortization

    total $85,190 · program services $85,190

  • 23 · Insurance

    total $80,522 · program services $80,522

  • 24a · Other expenses: MATERIALS & SUPPLIES

    total $212,527 · program services $212,527

  • 24b · Other expenses: REPAIRS

    total $45,273 · program services $45,273

  • 24c · Other expenses: PROPERTY TAX

    total $27,687 · program services $27,687

  • 24d · Other expenses: SAFETY EXPENSES

    total $16,101 · program services $16,101

  • 24e · All other expenses

    total $31,992 · program services $31,992

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $269,430 · end of year $203,232

  • 2 · Savings and temporary cash investments

    beginning of year $505,425 · end of year $755,425

  • 4 · Accounts receivable

    beginning of year $96,752 · end of year $230,116

  • 8 · Inventories for sale or use

    beginning of year $503,155 · end of year $532,974

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

    $2,657,492

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

    $1,812,321

  • 10c · Land, buildings and equipment, net

    beginning of year $679,038 · end of year $845,171

  • 17 · Accounts payable and accrued expenses

    beginning of year $117,678 · end of year $182,251

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,936,122 · end of year $2,384,667

Mission and programs · 2023

Mission

PROVIDE RURAL ELECTRIC SERVICE TO OVER 500 PATRONS.

  • PROVIDE RURAL ELECTRIC SERVICE TO OVER 500 PATRONS.

    Expenses $957,704 · Revenue $963,661

As filed on the 2023 return.

Listed in Part VII

  • Chad Surrage

    SECRETARY

    Total calculated
    $127,649
    From this org
    $127,649
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Kenneth Bailey

    DIRECTOR

    Total calculated
    $1,040
    From this org
    $1,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Leonard Barendregt

    DIRECTOR

    Total calculated
    $1,040
    From this org
    $1,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dick Byce

    DIRECTOR

    Total calculated
    $1,040
    From this org
    $1,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Bob Studer

    DIRECTOR

    Total calculated
    $1,040
    From this org
    $1,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jerry Buerkle

    DIRECTOR

    Total calculated
    $880
    From this org
    $880
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mike O'Donnell

    DIRECTOR

    Total calculated
    $800
    From this org
    $800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
12 February 2025
IRS schema version
2023v6.0
Source object
202500449349302500

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