Form 990 for tax year 2022
Filed by BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND.
Totals
- Total revenue
- $140,224,200
- Total expenses
- $61,150
- Contributions and grants received
- $140,000,000
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $224,200
- Other revenue
- $0
- Total assets, end of year
- $140,224,200
- Total liabilities, end of year
- $61,150
- Net assets or fund balances, end of year
- $140,163,050
- Program services expenses (Part IX)
- $61,150
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $61,150
Program services were 100.0% 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.
-
1f · All other contributions, gifts and grants
$140,000,000
-
3 · Investment income
total $224,200 · excluded $224,200
Functional expenses
Part IX, the statement of functional expenses.
-
11g · Fees: other
total $61,150 · program services $61,150
Balance sheet
Part X, book values.
-
11 · Investments: publicly traded securities
end of year $140,208,499
-
15 · Other assets
beginning of year $0 · end of year $15,701
-
17 · Accounts payable and accrued expenses
end of year $61,150
-
28 · Net assets with donor restrictions
end of year $140,163,050
Mission and programs · 2022
Mission
THE PRINCIPAL PURPOSE OF THE TRUST IS TO MITIGATE THE IMPACT OF THE FEBRUARY 2021 WINTER STORM URI-RELATED SECURITIZATION CHARGES ON LOW INCOME COOPERATIVE RATEPAYERS OF THE PARTICIPATING 15 BRAZOS ELECTRIC MEMBER COOPERATIVES IN THIS TRUST.
-
THERE ARE AN ESTIMATED 134,000 POTENTIALLY ELIGIBLE HOUSEHOLDS, BASED ON ELIGIBILITY CRITERIA , IN THE PARTICIPATING MEMBER COOPERATIVES (PMC) SERVICE AREA. CUSTOMERS MAY APPLY FOR THE BENEFITS THROUGH SOLIX, A THIRD PARTY SPECIALIZING IN ELIGIBILITY DETERMINATION, AND THOSE CUSTOMERS DEEMED ELIGIBLE WILL RECEIVE CREDITS FROM THE PMCS ON THEIR MONTHLY INVOICES FOR ELECTRIC SERVICE TO COVER SECURITIZATION CHARGES INCLUDED IN THOSE INVOICES. THE CREDITS ARE FUNDED FROM REIMBURSEMENTS THE HARDSHIP FUND PAYS THE PMCS AFTER THE LOW INCOME CUSTOMERS RECEIVE THE CREDIT ON THEIR BILLS. THE FUND WAS SET UP IN DECEMBER OF 2022 AND WILL BEGIN DISBURSING FUNDS TO THE PMCS IN 2023.
Expenses $61,150
As filed on the 2022 return.
Listed in Part VII
-
Paula FarquharPAULA FARQUHAR
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Russell YoungRUSSELL YOUNG
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Jill SadberryJILL SADBERRY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Jim BatesJIM BATES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Stephen MeersSTEPHEN MEERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Justin StapletonJUSTIN STAPLETON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Janet VothJANET VOTH
TRUSTEE
- Total calculated
- $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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 2 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333079349301608
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