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Nonprofiteer
← BLACK RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by BLACK RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$91,445,577
Total expenses
$90,883,829
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$91,006,375
Investment income
$458,275
Other revenue
-$19,073
Total assets, end of year
$133,206,928
Total liabilities, end of year
$33,554,711
Net assets or fund balances, end of year
$99,652,217
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: ELECTRIC REVENUE

    total $90,333,055 · related or exempt $90,333,055

  • 2b · Program service revenue: PATRONAGE CAPITAL

    total $641,329 · related or exempt $641,329

  • 2c · Program service revenue: POLE RENTAL

    total $31,991 · excluded $31,991

  • 3 · Investment income

    total $458,275 · excluded $458,275

  • 11a · Other revenue: OTHER

    total $1,375 · related or exempt $1,375

  • 11b · Other revenue: EQUITY EARNINGS SUBSIDIARY

    total -$20,448 · related or exempt -$20,448

  • 11e · Other revenue, total

    -$19,073

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $8,145,979

  • 5 · Compensation of officers, directors and key employees

    total $505,155

  • 20 · Interest

    total $920,119

  • 22 · Depreciation, depletion and amortization

    total $5,689,408

  • 24a · Other expenses: PURCHASED POWER

    total $58,811,119

  • 24b · Other expenses: ADMINISTRATIVE AND GENERA

    total $5,363,876

  • 24c · Other expenses: DISTRIBUTION MAINTENANCE

    total $4,554,412

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $4,367,463

  • 24e · All other expenses

    total $2,526,298

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,426,353 · end of year $13,952,423

  • 2 · Savings and temporary cash investments

    beginning of year $3,644,959 · end of year $3,141,105

  • 4 · Accounts receivable

    beginning of year $9,938,067 · end of year $10,577,679

  • 7 · Other notes and loans receivable

    beginning of year $528,686 · end of year $615,676

  • 8 · Inventories for sale or use

    beginning of year $1,134,462 · end of year $1,371,035

  • 9 · Prepaid expenses and deferred charges

    beginning of year $423,154 · end of year $461,580

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

    $166,973,825

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

    $74,464,736

  • 10c · Land, buildings and equipment, net

    beginning of year $87,992,772 · end of year $92,509,089

  • 13 · Investments: program-related

    beginning of year $10,204,848 · end of year $10,561,152

  • 15 · Other assets

    beginning of year $16,961 · end of year $17,189

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,763,241 · end of year $8,743,328

  • 23 · Secured mortgages and notes payable

    beginning of year $10,574,208 · end of year $18,516,050

  • 25 · Other liabilities

    beginning of year $4,722,131 · end of year $6,295,333

  • 31 · Retained earnings, endowment or other funds

    beginning of year $94,250,682 · end of year $99,652,217

Mission and programs · 2024

Mission

TO PROVIDE RURAL AND URBAN AREAS WITHIN THE COOPERATIVES'S ASSIGNED SERVICE TERRITORY WITH RELIABLE, AFFORDABLE ELECTRICITY WHILE ALSO PROVIDING MEMBERS WITH EXCELLENT CUSTOMER SERVICE.

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL MEMBERS WITHIN THE COOPERATIVE'S ASSIGNED SERVICE TERRITORIES.

  • TO PROVIDE RURAL AND URBAN AREAS WITHIN THE COOPERATIVE'S ASSIGNED SERVICE TERRITORY WITH RELIABLE AND AFFORDABLE ELECTRICITY WHILE ALSO PROVIDINGS ITS MEMBERS WITH EXCELLENT CUSTOMER SERVICE.

As filed on the 2024 return.

Listed in Part VII

  • Kenneth T Carter

    CEO

    Total calculated
    $324,608
    From this org
    $251,445
    From related orgs
    $0
    Other
    $73,163
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $249,808
    Bonus
    not reported
    Other
    $1,637
    Deferred
    $73,163
    Nontaxable benefits
    not reported
    Filer's total
    $324,608

  • James F Moye

    COO

    Total calculated
    $202,494
    From this org
    $178,015
    From related orgs
    $0
    Other
    $24,479
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $176,187
    Bonus
    not reported
    Other
    $1,828
    Deferred
    $1,546
    Nontaxable benefits
    $22,933
    Filer's total
    $202,494

  • Shakema S White

    VP SUPPORT S

    Total calculated
    $197,920
    From this org
    $145,334
    From related orgs
    $0
    Other
    $52,586
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,334
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,311
    Nontaxable benefits
    $11,275
    Filer's total
    $197,920

  • Tracy Geddings

    OPS. SUPERIN

    Total calculated
    $197,037
    From this org
    $134,246
    From related orgs
    $0
    Other
    $62,791
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $134,246
    Bonus
    not reported
    Other
    not reported
    Deferred
    $52,437
    Nontaxable benefits
    $10,354
    Filer's total
    $197,037

  • Taiwan T Simmons

    CREW FOREMAN

    Total calculated
    $178,241
    From this org
    $129,372
    From related orgs
    $0
    Other
    $48,869
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $129,372
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,331
    Nontaxable benefits
    $7,538
    Filer's total
    $178,241

  • Linsey Robinson

    CREW FOREMAN

    Total calculated
    $177,926
    From this org
    $136,856
    From related orgs
    $0
    Other
    $41,070
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $136,856
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,267
    Nontaxable benefits
    $9,803
    Filer's total
    $177,926

  • Charles R Allen

    CEO-EMERITUS

    Total calculated
    $38,258
    From this org
    $27,984
    From related orgs
    $0
    Other
    $10,274

    Schedule J breakdown matched by us

    Base
    $21,174
    Bonus
    not reported
    Other
    $6,810
    Deferred
    $10,242
    Nontaxable benefits
    $32
    Filer's total
    $38,258

  • Caren Schwartz

    VICE CHAIR-T

    Total calculated
    $28,108
    From this org
    $28,108
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.5

  • Mary B Sheridan

    CHAIR-TRUST

    Total calculated
    $24,958
    From this org
    $24,958
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Ivan Sanders

    TRUSTEE

    Total calculated
    $23,158
    From this org
    $23,158
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Julian Dixon Jr

    CHAPLAIN-TRU

    Total calculated
    $22,258
    From this org
    $22,258
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Ronald Fountain

    TRUSTEE

    Total calculated
    $20,736
    From this org
    $20,736
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Thomas Durant

    SECRETARY-TR

    Total calculated
    $20,458
    From this org
    $20,458
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • David L Tindal

    TRUSTEE

    Total calculated
    $17,308
    From this org
    $17,308
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dr Ronald Prestage

    TRUSTEE

    Total calculated
    $12,358
    From this org
    $12,358
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dwayne Edwards

    TRUSTEE

    Total calculated
    $11,206
    From this org
    $11,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · Form 990 of other organizations
  • 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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BLACK RIVER ECONOMIC DEVELOPMENT CO

    C CORP · ECON DEV · SC · 100% owned · share of income -$20,448 · share of assets $1,153,468

    Directly controlled by BRECI

Provenance

Return type
form_990
Tax year
2024
Filed
13 March 2025
IRS schema version
2024v5.0
Source object
202521269349302812

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