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← BARTLETT ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by BARTLETT ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$40,795,236
Total expenses
$40,798,623
Contributions and grants received
$0
Grants paid
$6,825
Program service revenue
$39,865,632
Investment income
$53,786
Other revenue
$875,818
Total assets, end of year
$118,957,588
Total liabilities, end of year
$91,134,913
Net assets or fund balances, end of year
$27,822,675
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: SALES OF ELECTRICITY

    total $38,718,692 · related or exempt $38,718,692

  • 2b · Program service revenue: OTHER PROGRAM REVENUE

    total $644,633 · related or exempt $644,633

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $341,032 · related or exempt $341,032

  • 2d · Program service revenue: SERVICE FEES

    total $161,275 · related or exempt $161,275

  • 3 · Investment income

    total $10,564 · excluded $10,564

  • 6a · Gross rents

    real property $68

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $68

  • 6d · Net rental income or loss

    total $68 · excluded $68

  • 7a · Gross sales of assets other than inventory

    other assets $43,843

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

    other assets $621

  • 7c · Gain or loss

    other assets $43,222

  • 7d · Net gain or loss

    total $43,222 · related or exempt $43,222

  • 10a · Gross sales of inventory

    $4,787

  • 10b · Cost of goods sold

    $16,475

  • 10c · Net income from sales of inventory

    total -$11,688 · unrelated business -$11,688

  • 11a · Other revenue: BEC COMMUNICATIONS INTERNET SALES

    total $787,408 · unrelated business $787,408

  • 11b · Other revenue: POLE ATTACHMENT INCOME

    total $100,030 · excluded $100,030

  • 11e · Other revenue, total

    $887,438

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,825

  • 4 · Benefits paid to or for members

    total $541,182

  • 5 · Compensation of officers, directors and key employees

    total $1,654,574

  • 7 · Other salaries and wages

    total $1,973,093

  • 8 · Pension plan contributions

    total $166,241

  • 9 · Other employee benefits

    total $395,069

  • 10 · Payroll taxes

    total $224,895

  • 20 · Interest

    total $2,414,700

  • 22 · Depreciation, depletion and amortization

    total $2,622,747

  • 24a · Other expenses: PURCHASED POWER

    total $26,919,201

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $2,029,347

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $1,368,872

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $399,498

  • 24e · All other expenses

    total $82,379

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $464,815 · end of year $416,702

  • 4 · Accounts receivable

    beginning of year $1,650,215 · end of year $2,212,840

  • 8 · Inventories for sale or use

    beginning of year $106,229 · end of year $3,513,859

  • 9 · Prepaid expenses and deferred charges

    beginning of year $455,790 · end of year $594,327

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

    $110,327,685

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

    $14,625,806

  • 10c · Land, buildings and equipment, net

    beginning of year $72,193,834 · end of year $95,701,879

  • 13 · Investments: program-related

    beginning of year $12,954,280 · end of year $13,388,281

  • 15 · Other assets

    beginning of year $741,355 · end of year $3,129,700

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,816,667 · end of year $8,012,456

  • 21 · Escrow or custodial account liability

    beginning of year $200,114 · end of year $189,576

  • 23 · Secured mortgages and notes payable

    beginning of year $52,434,214 · end of year $77,582,440

  • 25 · Other liabilities

    beginning of year $3,300,613 · end of year $5,350,441

  • 29 · Capital stock, trust principal or current funds

    beginning of year $242,016 · end of year $264,946

  • 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 $27,572,894 · end of year $27,557,729

Mission and programs · 2022

Mission

PROVIDE OUR MEMBERS WITH SAFE AND DEPENDABLE SERVICES AT REASONABLE RATES, WITH A COMMITMENT TO ENHANCING OUR MEMBERS' QUALITY OF LIFE.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE SERVICES TO MEMBERS OF THE COOPERATIVE AT REASONABLE RATES.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 14,073 ACTIVE SERVICES AT YEAR END.

As filed on the 2022 return.

Listed in Part VII

  • Eugene Urbanovsky

    PRESIDENT

    Total calculated
    $16,814
    From this org
    $16,814
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.7

  • Samuel J Jackson

    VICE PRESIDENT

    Total calculated
    $26,296
    From this org
    $26,296
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.3

  • Klaasje Moffatt

    SECRETARY/TREASURER

    Total calculated
    $11,446
    From this org
    $11,446
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mike Adamson

    DIRECTOR

    Total calculated
    $14,756
    From this org
    $14,756
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Henry Bradford

    DIRECTOR

    Total calculated
    $13,856
    From this org
    $13,856
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • Jamiesue Ferguson

    DIRECTOR

    Total calculated
    $8,144
    From this org
    $8,144
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.7

  • Eldon Lange

    DIRECTOR

    Total calculated
    $9,369
    From this org
    $9,369
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • EdD Melton III

    DIRECTOR

    Total calculated
    $12,734
    From this org
    $12,734
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.9

  • Peter Yong

    DIRECTOR

    Total calculated
    $11,456
    From this org
    $11,456
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Bryan Lightfoot

    GM/CHIEF EXECUTIVE OFFICER

    Total calculated
    $344,035
    From this org
    $240,678
    From related orgs
    $0
    Other
    $103,357
    Hours/week
    42.2

    Schedule J breakdown matched by us

    Base
    $237,571
    Bonus
    $512
    Other
    $2,595
    Deferred
    $92,382
    Nontaxable benefits
    $10,975
    Filer's total
    $344,035

  • Aaron Adkins

    CHIEF BROADBAND OFFICER

    Total calculated
    $121,858
    From this org
    $108,394
    From related orgs
    $0
    Other
    $13,464
    Hours/week
    46.1

  • Glenda Hill

    CHIEF FINANCIAL OFFICER

    Total calculated
    $164,105
    From this org
    $109,909
    From related orgs
    $0
    Other
    $54,196
    Hours/week
    43.1

    Schedule J breakdown matched by us

    Base
    $102,137
    Bonus
    $4,214
    Other
    $3,558
    Deferred
    $29,432
    Nontaxable benefits
    $24,764
    Filer's total
    $164,105

  • Daniel Sanders

    CHIEF OPERATIONS OFFICER

    Total calculated
    $151,939
    From this org
    $116,752
    From related orgs
    $0
    Other
    $35,187
    Hours/week
    42.6

    Schedule J breakdown matched by us

    Base
    $115,902
    Bonus
    $551
    Other
    $299
    Deferred
    $11,403
    Nontaxable benefits
    $23,784
    Filer's total
    $151,939

  • Kenneth Slack

    CHIEF ENGINEERING OFFICER

    Total calculated
    $206,858
    From this org
    $160,484
    From related orgs
    $0
    Other
    $46,374
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $150,195
    Bonus
    $5,821
    Other
    $4,468
    Deferred
    $44,619
    Nontaxable benefits
    $1,755
    Filer's total
    $206,858

  • Carrie Wenzel

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $191,677
    From this org
    $132,337
    From related orgs
    $0
    Other
    $59,340
    Hours/week
    41.3

    Schedule J breakdown matched by us

    Base
    $126,859
    Bonus
    $4,529
    Other
    $949
    Deferred
    $34,498
    Nontaxable benefits
    $24,842
    Filer's total
    $191,677

  • James R Sorrell

    CHIEF FINANCIAL OFFICER (JAN-JUNE)

    Total calculated
    $152,112
    From this org
    $105,346
    From related orgs
    $0
    Other
    $46,766
    Hours/week
    44.6

    Schedule J breakdown matched by us

    Base
    $68,372
    Bonus
    $4,464
    Other
    $32,510
    Deferred
    $34,285
    Nontaxable benefits
    $12,481
    Filer's total
    $152,112

  • Eric Vanpraag

    CHIEF OPERATIONS OFFICER (JAN)

    Total calculated
    $80,343
    From this org
    $34,981
    From related orgs
    $0
    Other
    $45,362
    Hours/week
    42

  • William Wise

    CHIEF BROADBAND OFFICER (JAN-JUNE)

    Total calculated
    $116,776
    From this org
    $86,222
    From related orgs
    $0
    Other
    $30,554
    Hours/week
    40.9

  • Koby Adcock

    BROADBAND PLANT SUPERVISOR

    Total calculated
    $143,299
    From this org
    $109,495
    From related orgs
    $0
    Other
    $33,804
    Hours/week
    42.2

  • Christopher Allen

    OPERATIONS SUPERVISOR

    Total calculated
    $170,023
    From this org
    $117,434
    From related orgs
    $0
    Other
    $52,589
    Hours/week
    43.3

    Schedule J breakdown matched by us

    Base
    $109,233
    Bonus
    $4,019
    Other
    $4,182
    Deferred
    $27,795
    Nontaxable benefits
    $24,794
    Filer's total
    $170,023

  • Kirby Dawson

    OPERATIONS SUPERVISOR

    Total calculated
    $206,730
    From this org
    $117,200
    From related orgs
    $0
    Other
    $89,530
    Hours/week
    42.2

    Schedule J breakdown matched by us

    Base
    $110,227
    Bonus
    $5,118
    Other
    $1,855
    Deferred
    $65,259
    Nontaxable benefits
    $24,271
    Filer's total
    $206,730

  • Rodolfo Gonzalez

    OPERATIONS FOREMAN

    Total calculated
    $214,541
    From this org
    $112,568
    From related orgs
    $0
    Other
    $101,973
    Hours/week
    45.1

    Schedule J breakdown matched by us

    Base
    $106,438
    Bonus
    $3,265
    Other
    $2,865
    Deferred
    $77,179
    Nontaxable benefits
    $24,794
    Filer's total
    $214,541

  • Shawn Willis

    OPERATIONS FOREMAN

    Total calculated
    $175,846
    From this org
    $109,896
    From related orgs
    $0
    Other
    $65,950
    Hours/week
    42.3

    Schedule J breakdown matched by us

    Base
    $105,160
    Bonus
    $4,461
    Other
    $275
    Deferred
    $41,186
    Nontaxable benefits
    $24,764
    Filer's total
    $175,846

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 committee
  • 3 · Independent compensation consultant
  • 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

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. BRYAN LIGHTFOOT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 85,195 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,187 TOTAL REPORTED IN COLUMN C $ 92,382 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (85,195) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,632 EXPENSE TO THE COOPERATIVE $ 50,819 RODOLFO GONZALEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 74,480 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,699 TOTAL REPORTED IN COLUMN C $ 77,179 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (74,480) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,982 EXPENSE TO THE COOPERATIVE $ 22,681 KENNETH SLACK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 44,619 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 44,619 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (44,619) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,024 EXPENSE TO THE COOPERATIVE $ 33,024 KIRBY DAWSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 61,813 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,446 TOTAL REPORTED IN COLUMN C $ 65,259 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (61,813) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,629 EXPENSE TO THE COOPERATIVE $ 29,075 CARRIE WENZEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,538 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,960 TOTAL REPORTED IN COLUMN C $ 34,498 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,538) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,257 EXPENSE TO THE COOPERATIVE $ 33,217 SHAWN WILLIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 38,375 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,811 TOTAL REPORTED IN COLUMN C $ 41,186 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (38,375) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,815 EXPENSE TO THE COOPERATIVE $ 23,626 CHRISTOPHER ALLEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,364 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,431 TOTAL REPORTED IN COLUMN C $ 27,795 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,364) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,513 EXPENSE TO THE COOPERATIVE $ 28,944 GLENDA HILL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 26,214 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,218 TOTAL REPORTED IN COLUMN C $ 29,432 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (26,214) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,984 EXPENSE TO THE COOPERATIVE $ 24,202 JAMES R. SORRELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,210 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,075 TOTAL REPORTED IN COLUMN C $ 34,285 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,210) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,373 EXPENSE TO THE COOPERATIVE $ 19,448 DANIEL SANDERS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,403 TOTAL REPORTED IN COLUMN C $ 11,403 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN (0) EXPENSE TO THE COOPERATIVE $ 11,403

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BEC COMMUNICATIONS LLC

    BROADBAND INTERNET SERVICE · TX · income $787,408 · assets $3,362,113

    Directly controlled by BARTLETT ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2022
Filed
11 November 2023
IRS schema version
2022v5.0
Source object
202323189349314752

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