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Nonprofiteer
← HARNEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by HARNEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$15,332,710
Total expenses
$15,332,710
Contributions and grants received
$0
Grants paid
$10,000
Program service revenue
$14,808,679
Investment income
$478,982
Other revenue
$45,049
Total assets, end of year
$32,986,979
Total liabilities, end of year
$11,790,463
Net assets or fund balances, end of year
$21,196,516
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: CAPITAL CREDITS

    total $26,105 · related or exempt $26,105

  • 2b · Program service revenue: ELECTRIC ENERGY SALES

    total $14,751,116 · related or exempt $14,751,116

  • 2c · Program service revenue: POLE RENT

    total $31,458 · excluded $31,458

  • 3 · Investment income

    total $398,862 · excluded $398,862

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $63,278

  • 6b · Less rental expenses

    real property $17,228

  • 6c · Rental income or loss

    real property $46,050

  • 6d · Net rental income or loss

    total $46,050 · excluded $46,050

  • 7a · Gross sales of assets other than inventory

    other assets $92,720

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

    other assets $12,600

  • 7c · Gain or loss

    other assets $80,120

  • 7d · Net gain or loss

    total $80,120 · related or exempt $80,120

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Merchandising, net

    total -$1,001 · related or exempt -$1,001

  • 11e · Other revenue, total

    -$1,001

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $344,771

  • 5 · Compensation of officers, directors and key employees

    total $583,123

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,432,806

  • 8 · Pension plan contributions

    total $300,307

  • 9 · Other employee benefits

    total $594,124

  • 10 · Payroll taxes

    total $208,985

  • 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 $303,415

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,446,062

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Cost of power

    total $8,382,533

  • 24b · Other expenses: DISTRIBUTION-OPERATIONS & MAIN

    total $3,340,085

  • 24c · Other expenses: Administrative and general

    total $538,707

  • 24d · Other expenses: CONSUMER EXPENSES

    total $382,675

  • 24e · All other expenses

    total -$3,534,883

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,089,392 · end of year $1,784,204

  • 2 · Savings and temporary cash investments

    beginning of year $7,750,000 · end of year $6,000,000

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $973,969 · end of year $1,023,732

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,112,340 · end of year $1,091,748

  • 9 · Prepaid expenses and deferred charges

    beginning of year $93,276 · end of year $117,574

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

    $65,551,618

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

    $42,908,756

  • 10c · Land, buildings and equipment, net

    beginning of year $22,282,391 · end of year $22,642,862

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $310,113 · end of year $326,859

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,228,834 · end of year $1,590,940

  • 23 · Secured mortgages and notes payable

    beginning of year $9,305,480 · end of year $8,987,945

  • 25 · Other liabilities

    beginning of year $1,520,058 · end of year $1,211,578

  • 29 · Capital stock, trust principal or current funds

    beginning of year $12,440 · end of year $12,600

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

    beginning of year $1,202,074 · end of year $1,219,767

  • 31 · Retained earnings, endowment or other funds

    beginning of year $20,342,595 · end of year $19,964,149

Mission and programs · 2024

Mission

TO PROVIDE LOW COST ELECTRICITY TO OUR MEMBERS

  • Harney Electric Cooperative, Inc., is a rural electric cooperative providing electric services to its members.

As filed on the 2024 return.

Listed in Part VII

  • Fred Flippence

    GENERAL MANAGER

    Total calculated
    $301,553
    From this org
    $236,814
    From related orgs
    $0
    Other
    $64,739
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,814
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,418
    Nontaxable benefits
    $37,321
    Filer's total
    $301,553

  • Jason Hill

    OPERATIONS MNGR

    Total calculated
    $251,447
    From this org
    $184,758
    From related orgs
    $0
    Other
    $66,689
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,758
    Bonus
    not reported
    Other
    not reported
    Deferred
    $22,752
    Nontaxable benefits
    $43,937
    Filer's total
    $251,447

  • Michael Estrada

    FOREMAN

    Total calculated
    $219,203
    From this org
    $156,258
    From related orgs
    $0
    Other
    $62,945
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $156,258
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,177
    Nontaxable benefits
    $43,768
    Filer's total
    $219,203

  • Charles Knox

    FOREMAN

    Total calculated
    $214,503
    From this org
    $152,292
    From related orgs
    $0
    Other
    $62,211
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $152,292
    Bonus
    not reported
    Other
    not reported
    Deferred
    $18,444
    Nontaxable benefits
    $43,767
    Filer's total
    $214,503

  • Wyatt Shelley

    FOREMAN

    Total calculated
    $202,261
    From this org
    $155,898
    From related orgs
    $0
    Other
    $46,363
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $155,898
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,731
    Nontaxable benefits
    $26,632
    Filer's total
    $202,261

  • Joseph Bailey

    FOREMAN

    Total calculated
    $180,822
    From this org
    $160,827
    From related orgs
    $0
    Other
    $19,995
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $160,827
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,415
    Nontaxable benefits
    $580
    Filer's total
    $180,822

  • Gary Miller

    SEC/TREAS

    Total calculated
    $51,109
    From this org
    $51,109
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Chris Venell

    Director

    Total calculated
    $49,747
    From this org
    $49,747
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Ugalde

    President

    Total calculated
    $37,144
    From this org
    $37,144
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Frank Albisu

    Director

    Total calculated
    $37,051
    From this org
    $37,051
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Rodney Hoagland

    Director

    Total calculated
    $36,099
    From this org
    $36,099
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Hank Dufurrena

    Director

    Total calculated
    $35,468
    From this org
    $35,468
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joe Cronin

    VICE PRES

    Total calculated
    $34,952
    From this org
    $34,952
    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. 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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

Provenance

Return type
form_990
Tax year
2024
Filed
30 July 2025
IRS schema version
2024v5.2
Source object
202542119349301789

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