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Nonprofiteer
← CLAVERACK RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by CLAVERACK RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$29,387,147
Total expenses
$24,866,044
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$103,854
Other revenue
$29,283,293
Total assets, end of year
$139,424,410
Total liabilities, end of year
$68,559,845
Net assets or fund balances, end of year
$70,864,565
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.

  • 3 · Investment income

    total $103,854 · excluded $103,854

  • 5 · Royalties

    total $37,058 · excluded $37,058

  • 10a · Gross sales of inventory

    $51,711,453

  • 10b · Cost of goods sold

    $29,095,777

  • 10c · Net income from sales of inventory

    total $22,615,676 · related or exempt $22,615,676

  • 11a · Other revenue: BROADBAND OPERATING SUPPORT

    total $3,481,560 · related or exempt $3,481,560

  • 11b · Other revenue: G&T AND OTHER CAPITAL CREDITS

    total $2,188,845 · related or exempt $2,188,845

  • 11c · Other revenue: EQUITY INCOME FROM AFFILIATE

    total $874,209 · related or exempt $874,209

  • 11d · All other revenue

    total $85,945 · excluded $85,945

  • 11e · Other revenue, total

    $6,630,559

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,400,812

  • 5 · Compensation of officers, directors and key employees

    total $958,921

  • 20 · Interest

    total $2,179,976

  • 22 · Depreciation, depletion and amortization

    total $4,565,464

  • 24a · Other expenses: DISTRIBUTION-MAINTENANC

    total $10,231,332

  • 24b · Other expenses: ADMIN & GENERAL

    total $2,952,625

  • 24c · Other expenses: DISTRIBUTION-OPERATIONS

    total $1,399,549

  • 24d · Other expenses: SALES

    total $752,286

  • 24e · All other expenses

    total $425,079

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,887,421 · end of year $376,455

  • 2 · Savings and temporary cash investments

    beginning of year $10,831 · end of year $1,976,827

  • 3 · Pledges and grants receivable

    beginning of year $26,615 · end of year $101,577

  • 4 · Accounts receivable

    beginning of year $4,505,752 · end of year $6,273,136

  • 8 · Inventories for sale or use

    beginning of year $2,176,128 · end of year $1,852,143

  • 9 · Prepaid expenses and deferred charges

    beginning of year $743,374 · end of year $840,092

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

    $155,148,828

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

    $61,589,697

  • 10c · Land, buildings and equipment, net

    beginning of year $77,908,355 · end of year $93,559,131

  • 11 · Investments: publicly traded securities

    beginning of year $66,146 · end of year $60,443

  • 13 · Investments: program-related

    beginning of year $31,201,782 · end of year $33,585,988

  • 15 · Other assets

    beginning of year $934,247 · end of year $798,618

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,686,074 · end of year $7,095,325

  • 23 · Secured mortgages and notes payable

    beginning of year $42,450,599 · end of year $56,391,123

  • 25 · Other liabilities

    beginning of year $4,684,422 · end of year $5,073,397

  • 29 · Capital stock, trust principal or current funds

    beginning of year $119,845 · end of year $115,860

  • 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 $66,519,711 · end of year $70,748,705

Mission and programs · 2023

Mission

PROVISION OF ELECTRIC SERVICE IN RURAL PENNSYLVANIA.

Activities or mission (Part I)

PROVISION OF ELECTRICAL SERVICE IN RURAL PENNSYLVANIA.

  • PROVISION OF ELECTRIC SERVICE TO MEMBER/OWNERS IN RURAL PENNSYLVANIA USING THE COOPERATIVE FORM OF OWNERSHIP.

As filed on the 2023 return.

Listed in Part VII

  • Anthony J Ventello

    DIRECTOR

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.1

  • Charles R Bullock

    DIRECTOR

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Robert W Fearnley

    DIRECTOR

    Total calculated
    $14,800
    From this org
    $14,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Timothy T Tewksbury

    DIRECTOR - SECRETARY/TREASURER

    Total calculated
    $15,000
    From this org
    $15,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.1

  • Angela S Joines

    DIRECTOR - VICE SECRETARY/TREASURER

    Total calculated
    $13,600
    From this org
    $13,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.1

  • Gary L Hennip

    DIRECTOR - CHAIR

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.1

  • Robert R Faux

    DIRECTOR

    Total calculated
    $16,100
    From this org
    $16,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.7

  • Charles R McNamara

    DIRECTOR

    Total calculated
    $16,600
    From this org
    $16,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Danise C Fairchild

    DIRECTOR - VICE CHAIR

    Total calculated
    $17,600
    From this org
    $17,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.2

  • Steven Allabaugh

    PRESIDENT AND CEO

    Total calculated
    $368,790
    From this org
    $255,802
    From related orgs
    $0
    Other
    $112,988
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $240,802
    Bonus
    $15,000
    Other
    $0
    Deferred
    $69,188
    Nontaxable benefits
    $43,800
    Filer's total
    $368,790

  • Jennifer Jones

    CHIEF FINANCIAL OFFICER

    Total calculated
    $149,276
    From this org
    $113,897
    From related orgs
    $0
    Other
    $35,379
    Hours/week
    40

  • Nicholas Berger

    SENIOR DIR. OF ENGINEERING & OPERATIONS

    Total calculated
    $297,855
    From this org
    $200,861
    From related orgs
    $0
    Other
    $96,994
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,361
    Bonus
    $10,500
    Other
    $0
    Deferred
    $53,521
    Nontaxable benefits
    $43,473
    Filer's total
    $297,855

  • Leonard Fowler

    JOURNEYMAN LINE TECHNICIAN

    Total calculated
    $232,782
    From this org
    $157,738
    From related orgs
    $0
    Other
    $75,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,738
    Bonus
    $0
    Other
    $0
    Deferred
    $29,075
    Nontaxable benefits
    $45,969
    Filer's total
    $232,782

  • Richard Herman

    CREW CHIEF

    Total calculated
    $229,810
    From this org
    $156,300
    From related orgs
    $0
    Other
    $73,510
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,300
    Bonus
    $0
    Other
    $0
    Deferred
    $31,404
    Nontaxable benefits
    $42,106
    Filer's total
    $229,810

  • John Camburn

    MANAGER OF FIELD OPERATIONS

    Total calculated
    $211,800
    From this org
    $163,200
    From related orgs
    $0
    Other
    $48,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,200
    Bonus
    $0
    Other
    $0
    Deferred
    $34,664
    Nontaxable benefits
    $13,936
    Filer's total
    $211,800

  • Jeremiah Lund

    JOURNEYMAN LINEMAN

    Total calculated
    $215,057
    From this org
    $141,353
    From related orgs
    $0
    Other
    $73,704
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,353
    Bonus
    $0
    Other
    $0
    Deferred
    $29,075
    Nontaxable benefits
    $44,629
    Filer's total
    $215,057

  • Shawn Robinson

    SERVICE LINE TECHNICIAN

    Total calculated
    $215,538
    From this org
    $146,192
    From related orgs
    $0
    Other
    $69,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,192
    Bonus
    $0
    Other
    $0
    Deferred
    $30,217
    Nontaxable benefits
    $39,129
    Filer's total
    $215,538

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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.

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.

  • CLAVERACK COMMUNICATIONS LLC

    BROADBAND & VOIP · PA · income $1,800,960 · assets $4,344,343

    Directly controlled by CLAVERACK RURAL ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
13 August 2024
IRS schema version
2023v5.1
Source object
202442269349300324

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