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Nonprofiteer
← RIVERSIDE ELECTRIC COMPANY LTD

Form 990 for tax year 2022

Filed by RIVERSIDE ELECTRIC COMPANY LTD.

Totals

Total revenue
$1,133,029
Total expenses
$940,899
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,018,012
Investment income
$8,252
Other revenue
$106,765
Total assets, end of year
$2,053,799
Total liabilities, end of year
$117,677
Net assets or fund balances, end of year
$1,936,122
Program services expenses (Part IX)
$925,459
Management and general expenses
$15,440
Fundraising expenses
$0
Program service expenses (Part III)
$925,459

Program services were 98.4% 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 $1,351,608 · related or exempt $1,351,608

  • 2b · Program service revenue: IRRIGATION ENERGY SALE

    total $423,015 · related or exempt $423,015

  • 2c · Program service revenue: COST OF ENERGY

    total -$756,611 · related or exempt -$756,611

  • 3 · Investment income

    total $8,252 · related or exempt $8,252

  • 11a · Other revenue: MATERIALS

    total $86,022 · related or exempt $86,022

  • 11b · Other revenue: CONSTRUCTION EQUITY

    total $13,973 · related or exempt $13,973

  • 11c · Other revenue: MISCELLANEOUS

    total $6,770 · related or exempt $6,770

  • 11e · Other revenue, total

    $106,765

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $126,051 · program services $119,811 · management and general $6,240

  • 7 · Other salaries and wages

    total $211,817 · program services $211,817

  • 9 · Other employee benefits

    total $62,000 · program services $62,000

  • 10 · Payroll taxes

    total $26,843 · program services $26,843

  • 11c · Fees: accounting

    total $9,200 · management and general $9,200

  • 13 · Office expenses

    total $25,475 · program services $25,475

  • 22 · Depreciation, depletion and amortization

    total $69,123 · program services $69,123

  • 23 · Insurance

    total $70,255 · program services $70,255

  • 24a · Other expenses: MATERIALS & SUPPLIES

    total $203,980 · program services $203,980

  • 24b · Other expenses: REPAIRS

    total $54,176 · program services $54,176

  • 24c · Other expenses: SAFETY EXPENSES

    total $20,373 · program services $20,373

  • 24d · Other expenses: PROPERTY TAX

    total $19,881 · program services $19,881

  • 24e · All other expenses

    total $41,725 · program services $41,725

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $426,664 · end of year $269,430

  • 2 · Savings and temporary cash investments

    beginning of year $257,079 · end of year $505,425

  • 4 · Accounts receivable

    beginning of year $113,476 · end of year $96,752

  • 8 · Inventories for sale or use

    beginning of year $421,151 · end of year $503,155

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

    $2,406,168

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

    $1,727,131

  • 10c · Land, buildings and equipment, net

    beginning of year $734,187 · end of year $679,037

  • 17 · Accounts payable and accrued expenses

    beginning of year $208,765 · end of year $117,677

  • 27 · Net assets without donor restrictions

    beginning of year $1,743,792 · end of year $1,936,122

Mission and programs · 2022

Mission

PROVIDE RURAL ELECTRIC SERVICE TO OVER 500 PATRONS.

  • PROVIDE RURAL ELECTRIC SERVICE TO OVER 500 PATRONS.

    Expenses $925,459 · Revenue $1,133,029

As filed on the 2022 return.

Listed in Part VII

  • Chad Surrage

    SECRETARY

    Total calculated
    $119,811
    From this org
    $119,811
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Leonard Barendregt

    DIRECTOR

    Total calculated
    $1,120
    From this org
    $1,120
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jerry Buerkle

    DIRECTOR

    Total calculated
    $1,120
    From this org
    $1,120
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Bob Studer

    DIRECTOR

    Total calculated
    $1,120
    From this org
    $1,120
    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

  • Kenneth Bailey

    DIRECTOR

    Total calculated
    $960
    From this org
    $960
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mike O'Donnell

    DIRECTOR

    Total calculated
    $880
    From this org
    $880
    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
2022
Filed
10 January 2024
IRS schema version
2022v5.0
Source object
202410169349303441

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