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Nonprofiteer
← WHITEWATER VALLEY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by WHITEWATER VALLEY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$32,149,264
Total expenses
$31,043,025
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$31,125,710
Investment income
$78,696
Other revenue
$944,858
Total assets, end of year
$78,801,552
Total liabilities, end of year
$41,427,384
Net assets or fund balances, end of year
$37,374,168
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$31,043,026

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: RESIDENTIAL SALES- FARM

    total $20,155,032 · related or exempt $20,155,032

  • 2b · Program service revenue: COMMERCIAL AND INDUSTRIAL SALES

    total $6,865,887 · related or exempt $6,865,887

  • 2c · Program service revenue: RESIDENTIAL SALES- SEASONAL

    total $2,965,058 · related or exempt $2,965,058

  • 2d · Program service revenue: SALES TO PUBLIC UTILITIES

    total $478,551 · related or exempt $478,551

  • 2e · Program service revenue: SALES TO PUBLIC BUILDINGS

    total $385,719 · related or exempt $385,719

  • 2f · All other program service revenue

    total $275,463 · related or exempt $275,463

  • 3 · Investment income

    total $78,696 · excluded $78,696

  • 11a · Other revenue: CAPITAL CREDITS AND PATRONAGE

    total $761,927 · excluded $761,927

  • 11b · Other revenue: RENTAL INCOME

    total $137,486 · excluded $137,486

  • 11c · Other revenue: MERCHANDISING REVENUE

    total $9,092 · unrelated business $9,092

  • 11d · All other revenue

    total $36,353 · unrelated business -$12,393 · excluded $48,746

  • 11e · Other revenue, total

    $944,858

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $377,423

  • 7 · Other salaries and wages

    total $259,837

  • 8 · Pension plan contributions

    total $45,314

  • 9 · Other employee benefits

    total $26,877

  • 20 · Interest

    total $1,025,173

  • 22 · Depreciation, depletion and amortization

    total $2,236,105

  • 24a · Other expenses: PURCHASED POWER

    total $21,468,088

  • 24b · Other expenses: MAINTENANCE EXPENSE

    total $3,044,917

  • 24c · Other expenses: GENERAL AND ADMINISTRAT

    total $1,093,228

  • 24d · Other expenses: CUSTOMER ACCOUNTS EXPEN

    total $722,670

  • 24e · All other expenses

    total $743,393

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,835,896 · end of year $7,691,164

  • 4 · Accounts receivable

    beginning of year $3,063,348 · end of year $6,693,250

  • 8 · Inventories for sale or use

    beginning of year $1,114,184 · end of year $1,358,582

  • 9 · Prepaid expenses and deferred charges

    beginning of year $623,256 · end of year $108,030

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

    $68,698,102

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

    $18,277,230

  • 10c · Land, buildings and equipment, net

    beginning of year $49,333,202 · end of year $50,420,872

  • 12 · Investments: other securities

    beginning of year $14,626,647 · end of year $12,522,682

  • 15 · Other assets

    beginning of year $6,972 · end of year $6,972

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,809,807 · end of year $3,634,766

  • 23 · Secured mortgages and notes payable

    beginning of year $29,455,225 · end of year $36,352,554

  • 25 · Other liabilities

    beginning of year $1,323,300 · end of year $1,440,064

  • 29 · Capital stock, trust principal or current funds

    beginning of year $174,998 · end of year $174,998

  • 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 $36,840,175 · end of year $37,199,170

Mission and programs · 2022

Mission

DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS.

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

    Expenses $31,043,026 · Revenue $31,125,711

As filed on the 2022 return.

Listed in Part VII

  • Rod West

    CHAIRMAN

    Total calculated
    $10,915
    From this org
    $10,915
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.58

  • Ryan Drake

    VICE CHAIRMAN

    Total calculated
    $8,200
    From this org
    $8,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.29

  • Jodie Creek

    SECRETARY/TREASURER

    Total calculated
    $8,870
    From this org
    $8,870
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.01

  • Nate Cantrell

    ASSIST. SECRETARY/TREASURER

    Total calculated
    $7,575
    From this org
    $7,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Terry Hillman

    DIRECTOR

    Total calculated
    $9,700
    From this org
    $9,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.55

  • Mark Miller

    DIRECTOR

    Total calculated
    $8,700
    From this org
    $8,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.18

  • Joe Nocton

    DIRECTOR

    Total calculated
    $8,325
    From this org
    $8,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.98

  • Garry Sayne

    DIRECTOR

    Total calculated
    $8,975
    From this org
    $8,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.7

  • Mark Singer

    DIRECTOR

    Total calculated
    $10,075
    From this org
    $10,075
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.19

  • Mary Jo Thomas

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $300,564
    From this org
    $215,978
    From related orgs
    $0
    Other
    $84,586
    Hours/week
    46.52

    Schedule J breakdown matched by us

    Base
    $215,978
    Bonus
    $0
    Other
    $0
    Deferred
    $80,110
    Nontaxable benefits
    $4,476
    Filer's total
    $300,564

  • Clay Smith

    LINE FOREMAN

    Total calculated
    $171,502
    From this org
    $135,325
    From related orgs
    $0
    Other
    $36,177
    Hours/week
    49.86

    Schedule J breakdown matched by us

    Base
    $135,325
    Bonus
    $0
    Other
    $0
    Deferred
    $13,938
    Nontaxable benefits
    $22,239
    Filer's total
    $171,502

  • Eric Seibert

    LINEMAN

    Total calculated
    $168,901
    From this org
    $121,239
    From related orgs
    $0
    Other
    $47,662
    Hours/week
    47.63

    Schedule J breakdown matched by us

    Base
    $121,239
    Bonus
    $0
    Other
    $0
    Deferred
    $19,966
    Nontaxable benefits
    $27,696
    Filer's total
    $168,901

  • Brian Cheatham

    LINE FOREMAN

    Total calculated
    $167,073
    From this org
    $119,560
    From related orgs
    $0
    Other
    $47,513
    Hours/week
    46.92

    Schedule J breakdown matched by us

    Base
    $119,560
    Bonus
    $0
    Other
    $0
    Deferred
    $19,687
    Nontaxable benefits
    $27,826
    Filer's total
    $167,073

  • Jimmy Berger

    LINEMAN

    Total calculated
    $160,931
    From this org
    $115,206
    From related orgs
    $0
    Other
    $45,725
    Hours/week
    46.6

    Schedule J breakdown matched by us

    Base
    $115,206
    Bonus
    $0
    Other
    $0
    Deferred
    $18,029
    Nontaxable benefits
    $27,696
    Filer's total
    $160,931

  • Grant Correll

    LINEMAN

    Total calculated
    $148,556
    From this org
    $114,885
    From related orgs
    $0
    Other
    $33,671
    Hours/week
    45.65

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL TO AND FROM ANNUAL REGIONAL MEETINGS MAY BE PAID BY THE REMC. TRAVEL FOR COMPANIONS IS REIMBURSED BY THE DIRECTOR, IF PAID FOR BY THE REMC.

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
4 August 2023
IRS schema version
2022v5.0
Source object
202332279349300008

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