Form 990 for tax year 2022
Filed by BRAZOS SANDY CREEK ELECTRIC COOPERATIVE INC C/O JSN BANKRUPTCY TRUSTEE.
Totals
- Total revenue
- -$187,012,229
- Total expenses
- $77,834,725
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $80,536,568
- Investment income
- -$356,451,074
- Other revenue
- $88,902,277
- Total assets, end of year
- $129,146,693
- Total liabilities, end of year
- $304,604,069
- Net assets or fund balances, end of year
- -$175,457,376
- Program services expenses (Part IX)
- $77,834,725
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Program services were 100.0% 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: ELECTRIC ENERGY
total $80,536,568 · related or exempt $80,536,568
-
3 · Investment income
total $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
other assets $98,575,000
-
7b · Less cost or other basis and sales expenses
other assets $455,026,074
-
7c · Gain or loss
other assets -$356,451,074
-
7d · Net gain or loss
total -$356,451,074 · related or exempt -$356,451,074
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$6,960,000
-
10b · Cost of goods sold
$6,960,000
-
11a · Other revenue: PPA SETTLEMENT
total $88,902,277 · related or exempt $88,902,277
-
11e · Other revenue, total
$88,902,277
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $5,179,269 · program services $5,179,269
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $13,425,490 · program services $13,425,490
-
23 · Insurance
total $0
-
24a · Other expenses: OPERATION EXPENSE
total $52,093,137 · program services $52,093,137
-
24b · Other expenses: MAINTENANCE EXPENSE
total $6,493,838 · program services $6,493,838
-
24c · Other expenses: WRITE OFF ASSO ORGANIZATION
total $642,991 · program services $642,991
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,770,881 · end of year $128,386,415
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $6,455,875 · end of year $300,192
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $4,981,184 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,268,114 · end of year $460,086
-
10c · Land, buildings and equipment, net
beginning of year $432,533,464 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $27,124,048 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $5,137,512 · end of year $11,112,324
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $381,328,522 · end of year $293,491,745
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $277,954 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $89,389,578 · end of year -$175,457,376
Mission and programs · 2022
Mission
TO PROVIDE RELIABLE POWER AT THE LOWEST COST TO OUR MEMBER, BRAZOS ELECTRIC POWER COOPERATIVE IN SUPPORT OF ITS MISSION TO PROVIDE VALUED SERVICE TO ITS CUSTOMERS.
Activities or mission (Part I)
TO PROVIDE VALUED SERVICE TO OUR MEMBERS AND CUSTOMERS BY GENERATING RELIABLE POWER AT THE LOWEST COST.
-
BRAZOS SANDY CREEK ELECTRIC COOPERATIVE WAS FORMED FOR THE PURPOSE OF FURNISHING DEPENDABLE AND ECONOMICAL WHOLESALE ELECTRIC POWER FOR RURAL DISTRIBUTION COOPERATIVES. BRAZOS SERVES ONE WHOLESALE ELECTRIC COOPERATIVE WHICH IN TURN SERVES ITS 16 MEMBER DISTRIBUTION COOPERATIVES AND ONE MUNICIPALITY.
As filed on the 2022 return.
Listed in Part VII
-
See Schedule O
See Schedule O
- Total calculated
- $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.
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.
-
BRAZOS ELECTRIC POWER COOPERATIVE INC
501(C)(12) · GENERATE PWR · TX
Directly controlled by NA
Assets distributed on this return
Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.
1 distribution to a recipient named as a person, $105,535,000. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 11 July 2023
- IRS schema version
- 2022v5.0
- Source object
- 202341999349300634
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