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Nonprofiteer
← BANDERA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by BANDERA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$101,364,554
Total expenses
$103,436,072
Contributions and grants received
$0
Grants paid
$113,924
Program service revenue
$100,946,016
Investment income
$30,391
Other revenue
$388,147
Total assets, end of year
$313,922,320
Total liabilities, end of year
$215,118,446
Net assets or fund balances, end of year
$98,803,874
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 $77,818,353 · related or exempt $77,818,353

  • 2b · Program service revenue: SALES OF FIBER INTERNET

    total $10,577,922 · related or exempt $9,990,270 · unrelated business $587,652

  • 2c · Program service revenue: TRANSMISSION LEASE

    total $5,760,458 · related or exempt $5,760,458

  • 2d · Program service revenue: ENERGY SERVICES

    total $4,698,131 · related or exempt $4,698,131

  • 2e · Program service revenue: SERVICE FEES

    total $1,133,917 · related or exempt $1,133,917

  • 2f · All other program service revenue

    total $957,235 · related or exempt $957,235

  • 3 · Investment income

    total $3,991 · excluded $3,991

  • 6a · Gross rents

    personal property $1,000

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $1,000

  • 6d · Net rental income or loss

    total $1,000 · related or exempt $1,000

  • 7a · Gross sales of assets other than inventory

    other assets $26,400

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

    other assets $0

  • 7c · Gain or loss

    other assets $26,400

  • 7d · Net gain or loss

    total $26,400 · related or exempt $26,400

  • 10a · Gross sales of inventory

    $321,750

  • 10b · Cost of goods sold

    $239,408

  • 10c · Net income from sales of inventory

    total $82,342 · related or exempt $82,342

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $304,805 · excluded $304,805

  • 11e · Other revenue, total

    $304,805

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $113,924

  • 4 · Benefits paid to or for members

    total $4,763,318

  • 5 · Compensation of officers, directors and key employees

    total $3,002,739

  • 7 · Other salaries and wages

    total $7,258,090

  • 8 · Pension plan contributions

    total $890,739

  • 9 · Other employee benefits

    total $1,238,355

  • 10 · Payroll taxes

    total $570,550

  • 20 · Interest

    total $6,328,618

  • 22 · Depreciation, depletion and amortization

    total $10,069,770

  • 24a · Other expenses: PURCHASED POWER

    total $50,800,028

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $6,061,536

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $5,223,590

  • 24d · Other expenses: ENERGY SERVICES

    total $4,684,480

  • 24e · All other expenses

    total $2,430,335

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,233,140 · end of year $206,100

  • 4 · Accounts receivable

    beginning of year $2,180,681 · end of year $3,394,565

  • 7 · Other notes and loans receivable

    beginning of year $2,567,773 · end of year $5,803,592

  • 8 · Inventories for sale or use

    beginning of year $3,142,327 · end of year $5,498,470

  • 9 · Prepaid expenses and deferred charges

    beginning of year $498,182 · end of year $994,281

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

    $382,052,466

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

    $95,317,560

  • 10c · Land, buildings and equipment, net

    beginning of year $272,288,493 · end of year $286,734,906

  • 13 · Investments: program-related

    beginning of year $6,156,450 · end of year $6,717,954

  • 15 · Other assets

    beginning of year $2,473,562 · end of year $4,572,452

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,525,633 · end of year $9,417,101

  • 19 · Deferred revenue

    beginning of year $139,356 · end of year $180,848

  • 21 · Escrow or custodial account liability

    beginning of year $55,483 · end of year $50,680

  • 23 · Secured mortgages and notes payable

    beginning of year $180,248,051 · end of year $201,399,745

  • 25 · Other liabilities

    beginning of year $4,237,174 · end of year $4,070,072

  • 29 · Capital stock, trust principal or current funds

    beginning of year $686,760 · end of year $706,365

  • 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 $96,648,151 · end of year $98,097,509

Mission and programs · 2022

Mission

LIGHTING THE GRID TO EMPOWER OUR MEMBERS.

Activities or mission (Part I)

TO PROVIDE ELECTRIC, BROADBAND INTERNET AND OTHER RELATED GOODS AND SERVICES TO OUR MEMBERS.

  • ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 40,419 ACTIVE SERVICES AT YEAR END.

  • FIBER DIVISION:PROVIDING FIBER OPTIC BROADBAND INTERNET SERVICES TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 10,954 BROADBAND SUBSCRIBERS AT YEAR END.

  • ENERGY SERVICES DIVISION:PROVIDING SOLAR ENERGY AND ENERGY MANAGEMENT SOLUTIONS TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL WHEN CUMULATIVE NET MARGINS FROM THESE SERVICES EXCEEDS CUMULATIVE LOSSES. THERE WERE 435 SUBSCRIBERS AT YEAR END.

As filed on the 2022 return.

Listed in Part VII

  • Annegreth Niemann

    DIRECTOR

    Total calculated
    $33,250
    From this org
    $33,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.1

  • Chris Blakemore

    DIRECTOR

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • Jeffrey Slocum

    DIRECTOR

    Total calculated
    $29,000
    From this org
    $29,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.3

  • Jeremy Diller

    VICE CHAIRMAN

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.2

  • Kurt Solis

    SECRETARY/TREASURER

    Total calculated
    $35,500
    From this org
    $35,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.2

  • Frances Laue

    DIRECTOR

    Total calculated
    $29,000
    From this org
    $29,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • Michael Edwards

    CHAIRMAN

    Total calculated
    $36,200
    From this org
    $36,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.3

  • Richard Earnest

    DIRECTOR

    Total calculated
    $31,500
    From this org
    $31,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4

  • Robert Aguirre

    DIRECTOR

    Total calculated
    $37,000
    From this org
    $37,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • William Hetherington

    CEO/GENERAL MANAGER

    Total calculated
    $637,813
    From this org
    $466,946
    From related orgs
    $0
    Other
    $170,867
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $380,643
    Bonus
    $68,483
    Other
    $17,820
    Deferred
    $146,649
    Nontaxable benefits
    $24,218
    Filer's total
    $637,813

  • Becky Bradburn

    CFO

    Total calculated
    $356,291
    From this org
    $251,728
    From related orgs
    $0
    Other
    $104,563
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $213,189
    Bonus
    $36,983
    Other
    $1,556
    Deferred
    $75,231
    Nontaxable benefits
    $29,332
    Filer's total
    $356,291

  • John Padalino

    GENERAL COUNSEL/CHIEF ADMIN OFFICER

    Total calculated
    $393,158
    From this org
    $307,648
    From related orgs
    $0
    Other
    $85,510
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $254,157
    Bonus
    $44,025
    Other
    $9,466
    Deferred
    $57,434
    Nontaxable benefits
    $28,076
    Filer's total
    $393,158

  • Shane Schmidt

    VP OF BEC FIBER

    Total calculated
    $382,777
    From this org
    $295,230
    From related orgs
    $0
    Other
    $87,547
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $243,210
    Bonus
    $42,495
    Other
    $9,525
    Deferred
    $58,215
    Nontaxable benefits
    $29,332
    Filer's total
    $382,777

  • Justin McKenzie

    VP OF APOLLOWARE & ENERGY SERVICES

    Total calculated
    $214,674
    From this org
    $186,535
    From related orgs
    $0
    Other
    $28,139
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $171,000
    Bonus
    $15,085
    Other
    $450
    Deferred
    $28,139
    Nontaxable benefits
    $0
    Filer's total
    $214,674

  • John Rush

    DIRECTOR OF ELECTRIC OPERATIONS

    Total calculated
    $265,948
    From this org
    $183,051
    From related orgs
    $0
    Other
    $82,897
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,589
    Bonus
    $26,932
    Other
    $5,530
    Deferred
    $52,565
    Nontaxable benefits
    $30,332
    Filer's total
    $265,948

  • Thilo Janssen

    DIRECTOR OF ENGINEERING

    Total calculated
    $233,897
    From this org
    $170,867
    From related orgs
    $0
    Other
    $63,030
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $144,941
    Bonus
    $24,788
    Other
    $1,138
    Deferred
    $39,813
    Nontaxable benefits
    $23,217
    Filer's total
    $233,897

  • Allen Marshall

    MANAGER OF OUTSIDE PLANT OPERATIONS

    Total calculated
    $215,731
    From this org
    $153,685
    From related orgs
    $0
    Other
    $62,046
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $138,983
    Bonus
    $14,164
    Other
    $538
    Deferred
    $33,514
    Nontaxable benefits
    $28,532
    Filer's total
    $215,731

  • Michael Shults

    NETWORK OPERATIONS MANAGER

    Total calculated
    $203,691
    From this org
    $153,311
    From related orgs
    $0
    Other
    $50,380
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,725
    Bonus
    $11,996
    Other
    $590
    Deferred
    $28,791
    Nontaxable benefits
    $21,589
    Filer's total
    $203,691

  • John Hernandez

    LINE FOREMAN

    Total calculated
    $216,893
    From this org
    $152,112
    From related orgs
    $0
    Other
    $64,781
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $142,598
    Bonus
    $8,010
    Other
    $1,504
    Deferred
    $40,563
    Nontaxable benefits
    $24,218
    Filer's total
    $216,893

  • Billy Simpson

    MANAGER OF PRODUCTS & SERVICES

    Total calculated
    $201,612
    From this org
    $143,909
    From related orgs
    $0
    Other
    $57,703
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $131,490
    Bonus
    $11,908
    Other
    $511
    Deferred
    $29,171
    Nontaxable benefits
    $28,532
    Filer's total
    $201,612

  • Johnny Olibas

    DIRECTOR OF INFORMATION TECHNOLOGY

    Total calculated
    $173,544
    From this org
    $141,871
    From related orgs
    $0
    Other
    $31,673
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $91,157
    Bonus
    $40,132
    Other
    $10,582
    Deferred
    $19,243
    Nontaxable benefits
    $12,430
    Filer's total
    $173,544

  • Garrett Clark

    LINE FOREMAN

    Total calculated
    $175,821
    From this org
    $128,257
    From related orgs
    $0
    Other
    $47,564
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $120,907
    Bonus
    $6,847
    Other
    $503
    Deferred
    $19,032
    Nontaxable benefits
    $28,532
    Filer's total
    $175,821

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 · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
HOUSING ALLOWANCE - TWO INDIVIDUALS REPORTED ON FORM 990 PART VII, JOHN PADALINO AND JOHNNY OLIBAS, RECEIVED THIS BENEFIT DURING THE YEAR. ADDITIONALLY, THE VALUE OF THE BENEFIT WAS INCLUDED IN THE RESPECTIVE REPORTABLE COMPENSATION. THE CEO PROVIDED AN OFFER LETTER OF EMPLOYMENT AND APPROVED THE HOUSING ALLOWANCE AS A PART OF THE COMPENSATION PACKAGE. GYM/FITNESS REIMBURSEMENT - THREE INDIVIDUALS REPORTED ON FORM 990 PART VII, JOHN HERNANDEZ, JOHNNY OLIBAS, AND THILO JANSSEN, 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 CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. WILLIAM HETHERINGTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 128,349 EMPLOYER CONTRIBUTION TO 401(K) PLAN 18,300 TOTAL REPORTED IN COLUMN C $ 146,649 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (128,349) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 50,569 EXPENSE TO THE COOPERATIVE $ 68,869 JOHN PADALINO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 41,838 EMPLOYER CONTRIBUTION TO 401(K) PLAN 15,596 TOTAL REPORTED IN COLUMN C $ 57,434 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (41,838) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,832 EXPENSE TO THE COOPERATIVE $ 55,428 SHANE SCHMIDT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 49,904 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,311 TOTAL REPORTED IN COLUMN C $ 58,215 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (49,904) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,383 EXPENSE TO THE COOPERATIVE $ 46,694 BECKY BRADBURN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,031 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,200 TOTAL REPORTED IN COLUMN C $ 75,231 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (62,031) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,160 EXPENSE TO THE COOPERATIVE $ 46,360 JOHN RUSH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,061 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,504 TOTAL REPORTED IN COLUMN C $ 52,565 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,061) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,660 EXPENSE TO THE COOPERATIVE $ 33,164 THILO JANSSEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,812 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,001 TOTAL REPORTED IN COLUMN C $ 39,813 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,812) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,629 EXPENSE TO THE COOPERATIVE $ 30,630 JOHN HERNANDEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,643 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,920 TOTAL REPORTED IN COLUMN C $ 40,563 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,643) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,767 EXPENSE TO THE COOPERATIVE $ 22,687 ALLEN MARSHALL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,814 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,700 TOTAL REPORTED IN COLUMN C $ 33,514 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,814) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,798 EXPENSE TO THE COOPERATIVE $ 31,498 JUSTIN MCKENZIE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,559 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,580 TOTAL REPORTED IN COLUMN C $ 28,139 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,559) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,870 EXPENSE TO THE COOPERATIVE $ 34,450 MICHAEL SHULTS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,091 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,700 TOTAL REPORTED IN COLUMN C $ 28,791 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,091) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,041 EXPENSE TO THE COOPERATIVE $ 32,741 BILLY SIMPSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,046 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,125 TOTAL REPORTED IN COLUMN C $ 29,171 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,046) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,798 EXPENSE TO THE COOPERATIVE $ 26,923 GARRETT CLARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,417 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,615 TOTAL REPORTED IN COLUMN C $ 19,032 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,417) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 12,056 EXPENSE TO THE COOPERATIVE $ 19,671 JOHNNY OLIBAS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,976 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,267 TOTAL REPORTED IN COLUMN C $ 19,243 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,976) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 10,501 EXPENSE TO THE COOPERATIVE $ 11,768

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
3 November 2023
IRS schema version
2022v5.0
Source object
202343199349329279

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