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Nonprofiteer
← YELLOWSTONE VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by YELLOWSTONE VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$40,035,298
Total expenses
$39,185,832
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$38,968,537
Investment income
$50,767
Other revenue
$1,015,994
Total assets, end of year
$90,179,359
Total liabilities, end of year
$60,998,121
Net assets or fund balances, end of year
$29,181,238
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: UTILITIES & SERVICES

    total $38,968,537 · related or exempt $38,968,537

  • 3 · Investment income

    total $50,767 · related or exempt $50,767

  • 6a · Gross rents

    personal property $49,580

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $49,580

  • 6d · Net rental income or loss

    total $49,580 · unrelated business $8,240 · excluded $41,340

  • 11a · Other revenue: CAPITAL CREDITS ALLOC

    total $816,973 · related or exempt $816,973

  • 11b · Other revenue: WAPA WHEELING CREDIT

    total $157,500 · related or exempt $157,500

  • 11c · Other revenue: MERCHANDISING

    total -$8,059 · related or exempt -$8,059

  • 11e · Other revenue, total

    $966,414

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,228,697

  • 5 · Compensation of officers, directors and key employees

    total $714,816

  • 7 · Other salaries and wages

    total $52,162

  • 9 · Other employee benefits

    total -$71,512

  • 11b · Fees: legal

    total $40,280

  • 11c · Fees: accounting

    total $15,600

  • 11d · Fees: lobbying

    total $2,654

  • 11g · Fees: other

    total $147,059

  • 12 · Advertising and promotion

    total $6,343

  • 13 · Office expenses

    total $499,854

  • 19 · Conferences, conventions and meetings

    total $115,978

  • 20 · Interest

    total $1,854,097

  • 22 · Depreciation, depletion and amortization

    total $3,235,139

  • 23 · Insurance

    total $45,461

  • 24a · Other expenses: COST OF POWER

    total $21,932,749

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $4,416,836

  • 24c · Other expenses: DISTRIBUTION MAINTENANC

    total $1,659,547

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $783,585

  • 24e · All other expenses

    total $2,506,487

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $257,413 · end of year $358,754

  • 2 · Savings and temporary cash investments

    beginning of year $1,353,916 · end of year $6,399,686

  • 4 · Accounts receivable

    beginning of year $2,400,762 · end of year $2,746,026

  • 8 · Inventories for sale or use

    beginning of year $1,031,913 · end of year $1,164,395

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,994 · end of year $89,613

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

    $109,767,186

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

    $40,869,970

  • 10c · Land, buildings and equipment, net

    beginning of year $65,203,548 · end of year $68,897,216

  • 13 · Investments: program-related

    beginning of year $9,620,565 · end of year $9,732,945

  • 15 · Other assets

    beginning of year $988,240 · end of year $790,724

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,763,436 · end of year $4,693,835

  • 23 · Secured mortgages and notes payable

    beginning of year $46,387,070 · end of year $54,808,495

  • 25 · Other liabilities

    beginning of year $1,399,073 · end of year $1,495,791

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,990,021 · end of year $2,032,729

  • 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 $26,341,751 · end of year $27,148,509

Mission and programs · 2022

Mission

RURAL ELECTRIC COOPERATIVE ESTABLISHED TO PROVIDE ELECTRICAL POWER AND SERVICES TO ITS MEMBERS LOCATED IN THE CENTRAL PORTION OF MONTANA.

Activities or mission (Part I)

YELLOWSTONE VALLEY ELECTRIC COOPERATIVE, INC. OPERATES AS AN RURAL ELECTRIC UTILITY ON A NON PROFIT BASIS BY PROVIDING ELECTRICAL POWER AND UTILITY SERVICES TO ITS MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF MONTANA. THE COOPERATIVE IS EXEMPT UNDER SECTION 501 (C) (12).

  • COOPERATIVE RESOURCES AND ACTIVITIES ARE RELATED TO PROVIDING ELECTRICAL POWER AND SERVICES TO APPROXIMATELY 18,228 MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF THE STATE OF MONTANA.

As filed on the 2022 return.

Listed in Part VII

  • Dave Kelsey

    SECRETARY-TREASURER

    Total calculated
    $54,885
    From this org
    $54,885
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Daniel R Swartz

    PRESIDENT

    Total calculated
    $30,959
    From this org
    $30,959
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Richard A Weldon

    DIRECTOR (PART YEAR)

    Total calculated
    $2,263
    From this org
    $2,263
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jwilliam Keller

    DIRECTOR

    Total calculated
    $10,752
    From this org
    $10,752
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Larry Kaufman

    VICE PRESIDENT

    Total calculated
    $27,219
    From this org
    $27,219
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Greg Neibauer

    DIRECTOR

    Total calculated
    $20,800
    From this org
    $20,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Scott Hofferber

    ASSISTANT SECRETARY/TREASU

    Total calculated
    $31,294
    From this org
    $31,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Chris White

    DIRECTOR

    Total calculated
    $9,910
    From this org
    $9,910
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brandon J Wittman

    GENERAL MANAGER

    Total calculated
    $415,515
    From this org
    $302,779
    From related orgs
    $0
    Other
    $112,736
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,779
    Bonus
    $0
    Other
    $0
    Deferred
    $83,614
    Nontaxable benefits
    $29,122
    Filer's total
    $415,515

  • Mariah Wittman

    CONTROLLER

    Total calculated
    $111,219
    From this org
    $84,759
    From related orgs
    $0
    Other
    $26,460
    Hours/week
    40

  • Mike Stookey

    LINEMAN

    Total calculated
    $236,839
    From this org
    $165,438
    From related orgs
    $0
    Other
    $71,401
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,438
    Bonus
    $0
    Other
    $0
    Deferred
    $48,086
    Nontaxable benefits
    $23,315
    Filer's total
    $236,839

  • Dan Shaules

    LINEMAN

    Total calculated
    $237,516
    From this org
    $176,907
    From related orgs
    $0
    Other
    $60,609
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,907
    Bonus
    $0
    Other
    $0
    Deferred
    $49,809
    Nontaxable benefits
    $10,800
    Filer's total
    $237,516

  • Monti Wetsch Shaules

    OFFICE MANAGER

    Total calculated
    $217,723
    From this org
    $158,136
    From related orgs
    $0
    Other
    $59,587
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,136
    Bonus
    $0
    Other
    $0
    Deferred
    $46,381
    Nontaxable benefits
    $13,206
    Filer's total
    $217,723

  • James Webber

    ENGINEER

    Total calculated
    $224,404
    From this org
    $152,417
    From related orgs
    $0
    Other
    $71,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,417
    Bonus
    $0
    Other
    $0
    Deferred
    $46,344
    Nontaxable benefits
    $25,643
    Filer's total
    $224,404

  • Jerome Wandler

    LINEMAN

    Total calculated
    $212,739
    From this org
    $146,121
    From related orgs
    $0
    Other
    $66,618
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,121
    Bonus
    $0
    Other
    $0
    Deferred
    $43,968
    Nontaxable benefits
    $22,650
    Filer's total
    $212,739

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

  • 2 · Substantiation required before reimbursing expenses
  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202321359349304287

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