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← BARTLETT ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by BARTLETT ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$47,017,841
Total expenses
$47,782,057
Contributions and grants received
$0
Grants paid
$3,450
Program service revenue
$44,380,278
Investment income
-$4,136
Other revenue
$2,641,699
Total assets, end of year
$145,371,091
Total liabilities, end of year
$115,451,014
Net assets or fund balances, end of year
$29,920,077
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.

  • 2a · Program service revenue: SALES OF ELECTRICITY

    total $40,406,458 · related or exempt $40,406,458

  • 2b · Program service revenue: OTHER PROGRAM REVENUE

    total $2,858,259 · related or exempt $2,858,259

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $960,936 · related or exempt $960,936

  • 2d · Program service revenue: SERVICE FEES

    total $154,625 · related or exempt $154,625

  • 3 · Investment income

    total $14,607 · excluded $14,607

  • 7a · Gross sales of assets other than inventory

    other assets $14,900

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

    other assets $33,643

  • 7c · Gain or loss

    other assets -$18,743

  • 7d · Net gain or loss

    total -$18,743 · related or exempt -$18,743

  • 10a · Gross sales of inventory

    $10,350

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $10,350 · unrelated business $10,350

  • 11a · Other revenue: BEC COMMUNICATIONS INTERNET SALES

    total $2,240,404 · unrelated business $2,240,404

  • 11b · Other revenue: BOND SECURITIZATION P'SHIP INCOME

    total $287,085 · related or exempt $287,085

  • 11c · Other revenue: POLE ATTACHMENT INCOME

    total $103,860 · excluded $103,860

  • 11e · Other revenue, total

    $2,631,349

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,450

  • 4 · Benefits paid to or for members

    total $1,679,047

  • 5 · Compensation of officers, directors and key employees

    total $1,579,323

  • 7 · Other salaries and wages

    total $2,707,983

  • 8 · Pension plan contributions

    total $327,630

  • 9 · Other employee benefits

    total $549,841

  • 10 · Payroll taxes

    total $274,176

  • 20 · Interest

    total $5,362,449

  • 22 · Depreciation, depletion and amortization

    total $4,314,129

  • 24a · Other expenses: PURCHASED POWER

    total $25,944,553

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $3,098,632

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $1,319,779

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $599,896

  • 24e · All other expenses

    total $21,169

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $589,238 · end of year $1,263,274

  • 4 · Accounts receivable

    beginning of year $3,355,428 · end of year $3,855,248

  • 8 · Inventories for sale or use

    beginning of year $339,653 · end of year $377,674

  • 9 · Prepaid expenses and deferred charges

    beginning of year $673,085 · end of year $856,130

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

    $141,726,824

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

    $18,116,937

  • 10c · Land, buildings and equipment, net

    beginning of year $114,266,594 · end of year $123,609,887

  • 13 · Investments: program-related

    beginning of year $14,559,208 · end of year $15,213,963

  • 15 · Other assets

    beginning of year $4,022,595 · end of year $194,915

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,007,585 · end of year $5,339,877

  • 21 · Escrow or custodial account liability

    beginning of year $193,123 · end of year $240,378

  • 23 · Secured mortgages and notes payable

    beginning of year $98,430,951 · end of year $106,300,642

  • 25 · Other liabilities

    beginning of year $3,704,203 · end of year $3,570,117

  • 29 · Capital stock, trust principal or current funds

    beginning of year $283,366 · end of year $306,176

  • 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 $29,186,573 · end of year $29,613,901

Mission and programs · 2024

Mission

PROVIDE OUR MEMBERS WITH SAFE AND DEPENDABLE SERVICES AT REASONABLE RATES, WITH A COMMITMENT TO ENHANCING OUR MEMBERS' QUALITY OF LIFE.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE SERVICES TO MEMBERS OF THE COOPERATIVE AT REASONABLE RATES.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 15,680 ACTIVE SERVICES AT YEAR END.

As filed on the 2024 return.

Listed in Part VII

  • Eugene Urbanovsky

    PRESIDENT

    Total calculated
    $17,944
    From this org
    $17,944
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Samuel J Jackson

    VICE PRESIDENT

    Total calculated
    $22,681
    From this org
    $22,681
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.3

  • Klaasje Moffatt

    SECRETARY/TREASURER (JAN-MAR)

    Total calculated
    $3,630
    From this org
    $3,630
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Jamiesue Ferguson

    SECRETARY/TREASURER

    Total calculated
    $9,006
    From this org
    $9,006
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • Mike Adamson

    DIRECTOR

    Total calculated
    $11,796
    From this org
    $11,796
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.1

  • Jeff Atchison

    DIRECTOR (JUL-DEC)

    Total calculated
    $9,798
    From this org
    $9,798
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Henry Bradford

    DIRECTOR

    Total calculated
    $14,501
    From this org
    $14,501
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Eldon Lange

    DIRECTOR (JAN-FEB)

    Total calculated
    $420
    From this org
    $420
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • EdD Melton III

    DIRECTOR

    Total calculated
    $21,186
    From this org
    $21,186
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.9

  • Peter Yong

    DIRECTOR

    Total calculated
    $11,006
    From this org
    $11,006
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.8

  • Bryan Lightfoot

    GM/CHIEF EXECUTIVE OFFICER

    Total calculated
    $453,836
    From this org
    $268,830
    From related orgs
    $0
    Other
    $185,006
    Hours/week
    41.6

    Schedule J breakdown matched by us

    Base
    $265,374
    Bonus
    $563
    Other
    $2,893
    Deferred
    $156,751
    Nontaxable benefits
    $28,255
    Filer's total
    $453,836

  • Aaron Adkins

    CHIEF BROADBAND OFFICER

    Total calculated
    $168,897
    From this org
    $150,226
    From related orgs
    $0
    Other
    $18,671
    Hours/week
    42.8

    Schedule J breakdown matched by us

    Base
    $145,162
    Bonus
    $4,609
    Other
    $455
    Deferred
    $18,611
    Nontaxable benefits
    $60
    Filer's total
    $168,897

  • Glenda Hill

    CHIEF FINANCIAL OFFICER

    Total calculated
    $210,818
    From this org
    $146,799
    From related orgs
    $0
    Other
    $64,019
    Hours/week
    42.3

    Schedule J breakdown matched by us

    Base
    $138,378
    Bonus
    $4,618
    Other
    $3,803
    Deferred
    $38,400
    Nontaxable benefits
    $25,619
    Filer's total
    $210,818

  • Randall Lewis

    CHIEF ENGINEERING OFFICER

    Total calculated
    $219,677
    From this org
    $172,427
    From related orgs
    $0
    Other
    $47,250
    Hours/week
    40.4

    Schedule J breakdown matched by us

    Base
    $169,409
    Bonus
    $1,750
    Other
    $1,268
    Deferred
    $22,864
    Nontaxable benefits
    $24,386
    Filer's total
    $219,677

  • Daniel Sanders

    CHIEF OPERATIONS OFFICER

    Total calculated
    $192,867
    From this org
    $149,236
    From related orgs
    $0
    Other
    $43,631
    Hours/week
    41.3

    Schedule J breakdown matched by us

    Base
    $143,458
    Bonus
    $4,615
    Other
    $1,163
    Deferred
    $18,413
    Nontaxable benefits
    $25,218
    Filer's total
    $192,867

  • Carrie Wenzel

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $211,260
    From this org
    $153,549
    From related orgs
    $0
    Other
    $57,711
    Hours/week
    41.8

    Schedule J breakdown matched by us

    Base
    $147,427
    Bonus
    $4,998
    Other
    $1,124
    Deferred
    $32,014
    Nontaxable benefits
    $25,697
    Filer's total
    $211,260

  • Kirby Dawson

    OPERATIONS SUPERVISOR

    Total calculated
    $201,516
    From this org
    $131,482
    From related orgs
    $0
    Other
    $70,034
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $124,990
    Bonus
    $4,250
    Other
    $2,242
    Deferred
    $44,415
    Nontaxable benefits
    $25,619
    Filer's total
    $201,516

  • Rodolfo Gonzalez

    OPERATIONS FOREMAN

    Total calculated
    $219,673
    From this org
    $121,335
    From related orgs
    $0
    Other
    $98,338
    Hours/week
    43.7

    Schedule J breakdown matched by us

    Base
    $113,588
    Bonus
    $5,068
    Other
    $2,679
    Deferred
    $72,689
    Nontaxable benefits
    $25,649
    Filer's total
    $219,673

  • Koby Adcock

    BROADBAND SUPERVISOR

    Total calculated
    $162,106
    From this org
    $124,933
    From related orgs
    $0
    Other
    $37,173
    Hours/week
    41.8

    Schedule J breakdown matched by us

    Base
    $120,646
    Bonus
    $3,954
    Other
    $333
    Deferred
    $35,297
    Nontaxable benefits
    $1,876
    Filer's total
    $162,106

  • Patrick Klepac

    OPERATIONS SUPERVISOR

    Total calculated
    $176,203
    From this org
    $122,173
    From related orgs
    $0
    Other
    $54,030
    Hours/week
    42.4

    Schedule J breakdown matched by us

    Base
    $118,462
    Bonus
    $3,364
    Other
    $347
    Deferred
    $28,411
    Nontaxable benefits
    $25,619
    Filer's total
    $176,203

  • Charles McNea

    BROADBAND PLANT FOREMAN

    Total calculated
    $161,514
    From this org
    $127,318
    From related orgs
    $0
    Other
    $34,196
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $124,083
    Bonus
    $2,996
    Other
    $239
    Deferred
    $10,819
    Nontaxable benefits
    $23,377
    Filer's total
    $161,514

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

  • 1a · Travel for companions
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE DIRECTORS FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. FOUR INDIVIDUALS REPORTED ON FORM 990 PART VII, ADAMSON, BRADFORD, JACKSON, AND URBANOVSKY, RECEIVED THIS BENEFIT DURING THE YEAR.
PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. BRYAN LIGHTFOOT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $148,484 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,267 TOTAL REPORTED IN COLUMN C $156,751 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (148,484) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 65,921 EXPENSE TO THE COOPERATIVE $ 74,188 RANDALL LEWIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 22,864 TOTAL REPORTED IN COLUMN C $ 22,864 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN (0) EXPENSE TO THE COOPERATIVE $ 22,864 RODOLFO GONZALEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 69,728 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,921 TOTAL REPORTED IN COLUMN C $ 72,689 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (69,728) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,621 EXPENSE TO THE COOPERATIVE $ 26,582 CARRIE WENZEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,434 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,580 TOTAL REPORTED IN COLUMN C $ 32,014 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,434) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,508 EXPENSE TO THE COOPERATIVE $ 41,088 GLENDA HILL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,092 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,308 TOTAL REPORTED IN COLUMN C $ 38,400 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,092) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,357 EXPENSE TO THE COOPERATIVE $ 37,665 KIRBY DAWSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 40,509 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,906 TOTAL REPORTED IN COLUMN C $ 44,415 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,509) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,303 EXPENSE TO THE COOPERATIVE $ 34,209 DANIEL SANDERS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 18,413 TOTAL REPORTED IN COLUMN C $ 18,413 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN (0) EXPENSE TO THE COOPERATIVE $ 18,413 PATRICK KLEPAC: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,049 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,362 TOTAL REPORTED IN COLUMN C $ 28,411 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,049) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,961 EXPENSE TO THE COOPERATIVE $ 26,323 AARON ADKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 18,611 TOTAL REPORTED IN COLUMN C $ 18,611 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN (0) EXPENSE TO THE COOPERATIVE $ 18,611 KOBY ADCOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,705 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,592 TOTAL REPORTED IN COLUMN C $ 35,297 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,705) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,850 EXPENSE TO THE COOPERATIVE $ 31,442 CHARLES MCNEA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,819 TOTAL REPORTED IN COLUMN C $ 10,819 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN (0) EXPENSE TO THE COOPERATIVE $ 10,819

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.

  • BEC COMMUNICATIONS LLC

    BROADBAND INTERNET SERVICE · TX · income $2,250,753 · assets $3,592,094

    Directly controlled by BARTLETT ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202513179349303556

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