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← CRAIG-BOTETOURT ELECTRIC CO-OPERATIVE

Form 990 for tax year 2023

Filed by CRAIG-BOTETOURT ELECTRIC CO-OPERATIVE.

Totals

Total revenue
$17,118,120
Total expenses
$15,087,695
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,440,550
Investment income
$81,355
Other revenue
$596,215
Total assets, end of year
$42,885,957
Total liabilities, end of year
$28,503,093
Net assets or fund balances, end of year
$14,382,864
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: ELECTRICITY TO MEMBERS

    total $14,698,834 · related or exempt $14,698,834

  • 2b · Program service revenue: CIAC

    total $1,720,653 · related or exempt $1,720,653

  • 2c · Program service revenue: PATRONAGE ALLOCATIONS

    total $21,063 · related or exempt $21,063

  • 3 · Investment income

    total $73,300 · excluded $73,300

  • 6a · Gross rents

    personal property $334,351

  • 6c · Rental income or loss

    personal property $334,351

  • 6d · Net rental income or loss

    total $334,351 · excluded $334,351

  • 7a · Gross sales of assets other than inventory

    other assets $38,200

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

    other assets $30,145

  • 7c · Gain or loss

    other assets $8,055

  • 7d · Net gain or loss

    total $8,055 · excluded $8,055

  • 11a · Other revenue: EQUITY (LOSS) FROM SUBSIDIARY

    total $127,225 · related or exempt $127,225

  • 11b · Other revenue: LEASE INCOME

    total $126,288 · unrelated business $126,288

  • 11c · Other revenue: OTHER INCOME

    total $8,351 · related or exempt $8,351

  • 11e · Other revenue, total

    $261,864

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $318,925

  • 5 · Compensation of officers, directors and key employees

    total $414,530

  • 7 · Other salaries and wages

    total $1,709,771

  • 8 · Pension plan contributions

    total $306,873

  • 10 · Payroll taxes

    total $158,750

  • 11b · Fees: legal

    total $26,241

  • 17 · Travel

    total $35,856

  • 19 · Conferences, conventions and meetings

    total $6,232

  • 20 · Interest

    total $865,692

  • 22 · Depreciation, depletion and amortization

    total $1,806,500

  • 24a · Other expenses: COST OF POWER

    total $7,679,185

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $1,373,356

  • 24c · Other expenses: ADMINISTRATIVE AND GENERA

    total $738,714

  • 24d · Other expenses: DISTRIBUTION OPERATION

    total $343,587

  • 24e · All other expenses

    total -$696,517

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,265,700 · end of year $389,236

  • 2 · Savings and temporary cash investments

    beginning of year $47,377 · end of year $635,350

  • 4 · Accounts receivable

    beginning of year $2,181,494 · end of year $1,883,388

  • 8 · Inventories for sale or use

    beginning of year $787,795 · end of year $789,856

  • 9 · Prepaid expenses and deferred charges

    beginning of year $217,128 · end of year $322,200

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

    $54,626,183

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

    $16,509,652

  • 10c · Land, buildings and equipment, net

    beginning of year $36,120,242 · end of year $38,116,531

  • 12 · Investments: other securities

    end of year $7,314

  • 13 · Investments: program-related

    beginning of year $702,124 · end of year $735,571

  • 15 · Other assets

    beginning of year $7,021 · end of year $6,511

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,282,204 · end of year $2,055,661

  • 23 · Secured mortgages and notes payable

    beginning of year $24,894,294 · end of year $25,933,162

  • 25 · Other liabilities

    beginning of year $583,350 · end of year $514,270

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13,569,033 · end of year $14,382,864

Mission and programs · 2023

Mission

SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS.

  • SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES ARE AS FOLLOWS: COST OF POWER: 7,679,185 DEPRECIATION: 1,806,500 SALARIES & WAGES: 1,709,771

As filed on the 2023 return.

Listed in Part VII

  • Jeff M Ahearn

    CEO

    Total calculated
    $229,417
    From this org
    $171,453
    From related orgs
    $0
    Other
    $57,964
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,453
    Bonus
    not reported
    Other
    not reported
    Deferred
    $49,629
    Nontaxable benefits
    $8,335
    Filer's total
    $229,417

  • Tim Kaczmarski

    DIRECTOR OF

    Total calculated
    $144,113
    From this org
    $103,135
    From related orgs
    $0
    Other
    $40,978
    Hours/week
    40

  • Josh Ouellette

    LINE FOREMAN

    Total calculated
    $129,547
    From this org
    $105,397
    From related orgs
    $0
    Other
    $24,150
    Hours/week
    40

  • Jc Winstead

    ASST SECRETA

    Total calculated
    $7,600
    From this org
    $7,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.33

  • James E Huffman

    PRESIDENT

    Total calculated
    $7,400
    From this org
    $7,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.37

  • Frank R Garman Jr

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.69

  • Everette J Harlow

    SECRETARY/TR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.58

  • Patrick J Ryan

    VICE PRESIDE

    Total calculated
    $6,400
    From this org
    $6,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.14

  • Travis Shrewsbury

    DIRECTOR

    Total calculated
    $5,800
    From this org
    $5,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.18

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 · 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.

Related corporations and trusts

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

  • CRAIG BOTETOURT ENERGY AND HOME SERVICES LLC

    INTERNET · VA · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.0
Source object
202403139349302210

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