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Nonprofiteer
← WHEATLAND RURAL ELECTRIC ASSOCIATION

Form 990 for tax year 2022

Filed by WHEATLAND RURAL ELECTRIC ASSOCIATION.

Totals

Total revenue
$18,033,086
Total expenses
$18,033,086
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$17,902,509
Investment income
$167,954
Other revenue
-$37,377
Total assets, end of year
$42,959,601
Total liabilities, end of year
$22,303,072
Net assets or fund balances, end of year
$20,656,529
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 $17,446,507 · related or exempt $17,446,507

  • 2b · Program service revenue: CAPITAL CREDITS

    total $320,116 · related or exempt $320,116

  • 2c · Program service revenue: MISC ELECTRIC REVENUE

    total $135,886 · related or exempt $135,886

  • 3 · Investment income

    total $142,624 · excluded $142,624

  • 6a · Gross rents

    personal property $3,937

  • 6c · Rental income or loss

    personal property $3,937

  • 6d · Net rental income or loss

    total $3,937 · excluded $3,937

  • 7a · Gross sales of assets other than inventory

    other assets $58,841

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

    other assets $33,511

  • 7c · Gain or loss

    other assets $25,330

  • 7d · Net gain or loss

    total $25,330 · related or exempt $25,330

  • 11a · Other revenue: MISC NON ELECTRIC

    total -$41,314 · related or exempt -$41,314

  • 11e · Other revenue, total

    -$41,314

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,177,755

  • 5 · Compensation of officers, directors and key employees

    total $404,059

  • 7 · Other salaries and wages

    total $194,456

  • 20 · Interest

    total $809,401

  • 22 · Depreciation, depletion and amortization

    total $930,074

  • 24a · Other expenses: COST OF POWER

    total $11,283,565

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $1,626,838

  • 24c · Other expenses: ADMIN & GENERAL

    total $1,257,393

  • 24d · Other expenses: MEMBER SERVICES

    total $349,545

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $510,812 · end of year $3,431,827

  • 2 · Savings and temporary cash investments

    end of year $6,000,000

  • 4 · Accounts receivable

    beginning of year $1,479,385 · end of year $1,525,645

  • 8 · Inventories for sale or use

    beginning of year $423,935 · end of year $541,669

  • 9 · Prepaid expenses and deferred charges

    beginning of year $351,737 · end of year $261,230

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

    $36,751,017

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

    $15,516,317

  • 10c · Land, buildings and equipment, net

    beginning of year $19,729,740 · end of year $21,234,700

  • 13 · Investments: program-related

    beginning of year $9,763,448 · end of year $9,937,535

  • 15 · Other assets

    beginning of year -$937 · end of year $26,995

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,448,966 · end of year $1,167,603

  • 23 · Secured mortgages and notes payable

    beginning of year $10,644,969 · end of year $20,977,945

  • 25 · Other liabilities

    beginning of year $164,331 · end of year $157,524

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

    beginning of year $904,386 · end of year $909,709

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,095,468 · end of year $19,746,820

Mission and programs · 2022

Mission

WHEATLAND REA WILL GIVE EXCELLENT SERVICE, PROVIDED BY A WELL-TRAINED PROFESSIONAL AND KNOWLEDGEABLE STAFF TO ALL OF OUR RATE CLASSES. WE REALIZED THE NECESSITY OF ATTRACTING AND RETAINING LARGE POWER CONSUMERS TO HELP CONTAIN THE COST OF POWER FOR ALL OUR CONSUMERS. TO THIS END, WHEATLAND REA ACTIVELY PURSUES NEW INNOVATIVE IDEAS AND PRACTICES TO HELP LARGE USERS STREAMLINE THEIR OPERATIONS AND POWER USAGE, AT THE SAME TIME WORKING TO IDENTIFY PROGRAMS TO HELP ALL RATE CLASSES. WE WILL MAINTAIN OUR EXCELLENT RECORD OF SERVICE AND RELIABILITY TO ALL RATE CLASSES.

  • WHEATLAND RURAL ELECTRIC ASSOCIATION, INC. IS A MEMBER OWNED ELECTRIC COOPERATIVE THAT PROVIDES 1,806 MILES OF LINE, AS WELL AS 4,290 DIFFERENT SERVICES TO AROUND 1,978 MEMBERS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donald E Smith

    GENERAL MANA

    Total calculated
    $240,710
    From this org
    $184,791
    From related orgs
    $0
    Other
    $55,919
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,791
    Bonus
    not reported
    Other
    not reported
    Deferred
    $20,384
    Nontaxable benefits
    $35,535
    Filer's total
    $240,710

  • Jason Wright

    OPERATIONS M

    Total calculated
    $194,416
    From this org
    $145,603
    From related orgs
    $0
    Other
    $48,813
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,603
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,204
    Nontaxable benefits
    $34,609
    Filer's total
    $194,416

  • Rhonda Apodaca

    FINANCE MANA

    Total calculated
    $144,573
    From this org
    $111,549
    From related orgs
    $0
    Other
    $33,024
    Hours/week
    40

  • Sandy Hranchak

    DIRECTOR

    Total calculated
    $6,800
    From this org
    $6,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Brockman

    DIRECTOR

    Total calculated
    $2,950
    From this org
    $2,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jack Finnerty

    DIRECTOR

    Total calculated
    $2,900
    From this org
    $2,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Britt Wilson

    DIRECTOR

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Amy Miller

    DIRECTOR

    Total calculated
    $2,250
    From this org
    $2,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Candy Geringer

    DIRECTOR

    Total calculated
    $1,376
    From this org
    $1,376
    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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
3 October 2023
IRS schema version
2022v5.0
Source object
202322769349301007

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