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Nonprofiteer
← BLACK RIVER ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by BLACK RIVER ELECTRIC COOPERATIVE.

Totals

Total revenue
$51,524,742
Total expenses
$51,524,742
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$50,848,395
Investment income
$502,554
Other revenue
$173,793
Total assets, end of year
$155,949,633
Total liabilities, end of year
$77,193,949
Net assets or fund balances, end of year
$78,755,684
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 $49,064,600 · related or exempt $49,064,600

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,227,691 · related or exempt $1,227,691

  • 2c · Program service revenue: MISC ELECTRIC REVENUE

    total $556,104 · related or exempt $556,104

  • 3 · Investment income

    total $70,029 · excluded $70,029

  • 6a · Gross rents

    personal property $147,871

  • 6c · Rental income or loss

    personal property $147,871

  • 6d · Net rental income or loss

    total $147,871 · related or exempt $147,871

  • 7a · Gross sales of assets other than inventory

    other assets $1,592,756

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

    other assets $1,160,231

  • 7c · Gain or loss

    other assets $432,525

  • 7d · Net gain or loss

    total $432,525 · related or exempt $432,525

  • 11a · Other revenue: MISC NON-OPERATING INCOME

    total $25,922 · related or exempt $25,922

  • 11e · Other revenue, total

    $25,922

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,116,207

  • 5 · Compensation of officers, directors and key employees

    total $825,684

  • 7 · Other salaries and wages

    total $756,439

  • 20 · Interest

    total $2,360,210

  • 22 · Depreciation, depletion and amortization

    total $4,723,270

  • 24a · Other expenses: COST OF POWER

    total $27,830,230

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $7,701,314

  • 24c · Other expenses: ADMIN & GENERAL

    total $3,808,928

  • 24d · Other expenses: MEMBER SERVICES

    total $1,402,460

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,053,556 · end of year $2,158,285

  • 2 · Savings and temporary cash investments

    end of year $8,948,000

  • 4 · Accounts receivable

    beginning of year $5,047,644 · end of year $4,962,078

  • 8 · Inventories for sale or use

    beginning of year $1,649,813 · end of year $2,190,305

  • 9 · Prepaid expenses and deferred charges

    beginning of year $620,767 · end of year $326,747

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

    $163,626,667

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

    $58,906,238

  • 10c · Land, buildings and equipment, net

    beginning of year $96,276,783 · end of year $104,720,429

  • 13 · Investments: program-related

    beginning of year $32,482,767 · end of year $32,643,789

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,482,853 · end of year $14,528,806

  • 19 · Deferred revenue

    beginning of year $2,250,000 · end of year $1,500,000

  • 23 · Secured mortgages and notes payable

    beginning of year $48,326,488 · end of year $60,415,864

  • 25 · Other liabilities

    beginning of year $810,361 · end of year $749,279

  • 31 · Retained earnings, endowment or other funds

    beginning of year $78,261,628 · end of year $78,755,684

Mission and programs · 2022

Mission

TO PROVIDE ELECTRIC POWER.

Activities or mission (Part I)

TO PROVIDE ELECTRIC POWER

  • DISTRIBUTION OF ELECTRICAL POWER TO CONSUMERS

As filed on the 2022 return.

Listed in Part VII

  • John H Singleton

    CEO

    Total calculated
    $348,896
    From this org
    $182,883
    From related orgs
    $0
    Other
    $166,013
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $182,883
    Bonus
    not reported
    Other
    not reported
    Deferred
    $135,817
    Nontaxable benefits
    $30,196
    Filer's total
    $348,896

  • Donald E England

    MGR OF CONST

    Total calculated
    $281,418
    From this org
    $141,878
    From related orgs
    $0
    Other
    $139,540
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,878
    Bonus
    not reported
    Other
    not reported
    Deferred
    $109,839
    Nontaxable benefits
    $29,701
    Filer's total
    $281,418

  • Paul I Montgomery

    MGR ENGINEER

    Total calculated
    $269,060
    From this org
    $156,805
    From related orgs
    $0
    Other
    $112,255
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $156,805
    Bonus
    not reported
    Other
    not reported
    Deferred
    $82,347
    Nontaxable benefits
    $29,908
    Filer's total
    $269,060

  • John C Eaves

    CFO

    Total calculated
    $226,509
    From this org
    $143,472
    From related orgs
    $0
    Other
    $83,037
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $143,472
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,278
    Nontaxable benefits
    $29,759
    Filer's total
    $226,509

  • Korey M King

    DISTRICT MAN

    Total calculated
    $205,961
    From this org
    $122,735
    From related orgs
    $0
    Other
    $83,226
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $122,735
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,714
    Nontaxable benefits
    $29,512
    Filer's total
    $205,961

  • Thomas Mooney

    SECRETARY

    Total calculated
    $40,400
    From this org
    $40,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Dennis Bess

    DIRECTOR

    Total calculated
    $30,404
    From this org
    $30,404
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • James W Hovis

    DIRECTOR

    Total calculated
    $30,102
    From this org
    $30,102
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jim Scaggs

    DIRECTOR

    Total calculated
    $29,804
    From this org
    $29,804
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Gary Cook

    PRESIDENT

    Total calculated
    $28,604
    From this org
    $28,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Harold Ellinghouse

    VICE PRESIDE

    Total calculated
    $28,304
    From this org
    $28,304
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Bruce Gastineau

    DIRECTOR

    Total calculated
    $28,304
    From this org
    $28,304
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jerry D Ellis

    DIRECTOR

    Total calculated
    $17,629
    From this org
    $17,629
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • J Mark Bollinger

    DIRECTOR

    Total calculated
    $16,728
    From this org
    $16,728
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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.

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202342929349301214

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