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Nonprofiteer
← HARNEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by HARNEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$13,519,428
Total expenses
$13,519,428
Contributions and grants received
$0
Grants paid
$10,000
Program service revenue
$13,161,298
Investment income
$305,237
Other revenue
$52,893
Total assets, end of year
$33,611,481
Total liabilities, end of year
$12,054,372
Net assets or fund balances, end of year
$21,557,109
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: CAPITAL CREDITS

    total $24,582 · related or exempt $24,582

  • 2b · Program service revenue: ELECTRIC ENERGY SALES

    total $13,105,258 · related or exempt $13,105,258

  • 2c · Program service revenue: POLE RENT

    total $31,458 · excluded $31,458

  • 3 · Investment income

    total $305,237 · excluded $305,237

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $62,677

  • 6b · Less rental expenses

    real property $8,258

  • 6c · Rental income or loss

    real property $54,419

  • 6d · Net rental income or loss

    total $54,419 · excluded $54,419

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Merchandising, net

    total -$1,526 · related or exempt -$1,526

  • 11e · Other revenue, total

    -$1,526

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $1,587,465

  • 5 · Compensation of officers, directors and key employees

    total $546,493

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,204,522

  • 8 · Pension plan contributions

    total $269,545

  • 9 · Other employee benefits

    total $512,728

  • 10 · Payroll taxes

    total $190,241

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $314,935

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,403,380

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Cost of power

    total $5,586,712

  • 24b · Other expenses: DISTRIBUTION-OPERATIONS & MAIN

    total $3,075,351

  • 24c · Other expenses: Administrative and general

    total $602,232

  • 24d · Other expenses: CONSUMER EXPENSES

    total $361,999

  • 24e · All other expenses

    total -$3,146,175

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,057,373 · end of year $7,089,392

  • 2 · Savings and temporary cash investments

    beginning of year $4,500,000 · end of year $1,750,000

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $904,216 · end of year $973,969

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $957,510 · end of year $1,112,340

  • 9 · Prepaid expenses and deferred charges

    beginning of year $62,958 · end of year $93,276

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

    $63,793,521

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

    $41,511,130

  • 10c · Land, buildings and equipment, net

    beginning of year $22,325,553 · end of year $22,282,391

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $296,478 · end of year $310,113

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,231,346 · end of year $1,228,834

  • 23 · Secured mortgages and notes payable

    beginning of year $9,610,796 · end of year $9,305,480

  • 25 · Other liabilities

    beginning of year $1,617,588 · end of year $1,520,058

  • 29 · Capital stock, trust principal or current funds

    beginning of year $12,320 · end of year $12,440

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

    beginning of year $1,145,351 · end of year $1,202,074

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,486,687 · end of year $20,342,595

Mission and programs · 2023

Mission

TO PROVIDE LOW COST ELECTRICITY TO OUR MEMBERS

  • Harney Electric Cooperative, Inc., is a rural electric cooperative providing electric services to its members.

As filed on the 2023 return.

Listed in Part VII

  • Fred Flippence

    GENERAL MANAGER

    Total calculated
    $285,218
    From this org
    $225,469
    From related orgs
    $0
    Other
    $59,749
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,469
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,112
    Nontaxable benefits
    $33,637
    Filer's total
    $285,218

  • Jason Hill

    OPERATIONS MNGR

    Total calculated
    $228,537
    From this org
    $167,320
    From related orgs
    $0
    Other
    $61,217
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,320
    Bonus
    not reported
    Other
    not reported
    Deferred
    $20,645
    Nontaxable benefits
    $40,572
    Filer's total
    $228,537

  • Michael Estrada

    Foreman

    Total calculated
    $205,707
    From this org
    $147,343
    From related orgs
    $0
    Other
    $58,364
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $147,343
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,951
    Nontaxable benefits
    $40,413
    Filer's total
    $205,707

  • Charles Knox

    Foreman

    Total calculated
    $204,881
    From this org
    $146,569
    From related orgs
    $0
    Other
    $58,312
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $146,569
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,899
    Nontaxable benefits
    $40,413
    Filer's total
    $204,881

  • Jason Radinovich

    LINE SUPER

    Total calculated
    $191,622
    From this org
    $145,006
    From related orgs
    $0
    Other
    $46,616
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,006
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,824
    Nontaxable benefits
    $28,792
    Filer's total
    $191,622

  • Bruce Rickman

    FOREMAN

    Total calculated
    $181,579
    From this org
    $135,844
    From related orgs
    $0
    Other
    $45,735
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $135,844
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,050
    Nontaxable benefits
    $28,685
    Filer's total
    $181,579

  • Gary Miller

    SEC/TREAS

    Total calculated
    $46,632
    From this org
    $46,632
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Chris Venell

    Director

    Total calculated
    $46,243
    From this org
    $46,243
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Ugalde

    President

    Total calculated
    $34,771
    From this org
    $34,771
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Frank Albisu

    Director

    Total calculated
    $34,636
    From this org
    $34,636
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Rodney Hoagland

    Director

    Total calculated
    $33,919
    From this org
    $33,919
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Hank Dufurrena

    Director

    Total calculated
    $32,673
    From this org
    $32,673
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joe Cronin

    VICE PRES

    Total calculated
    $32,401
    From this org
    $32,401
    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

  • DIAMOND ELEMENTARY SCHOOL

    $10,000

    CHARITABLE; COMMUNITY SUPPORT

Provenance

Return type
form_990
Tax year
2023
Filed
18 June 2024
IRS schema version
2023v5.1
Source object
202411709349300436

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