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Nonprofiteer
← LOWER YELLOWSTONE RURAL ELECTRIC ASSOCIATION INC

Form 990 for tax year 2022

Filed by LOWER YELLOWSTONE RURAL ELECTRIC ASSOCIATION INC.

Totals

Total revenue
$35,074,052
Total expenses
$33,207,575
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$34,231,112
Investment income
$72,061
Other revenue
$770,879
Total assets, end of year
$89,919,602
Total liabilities, end of year
$42,608,633
Net assets or fund balances, end of year
$47,310,969
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: SALE OF ELECTRICITY

    total $34,231,112 · related or exempt $34,231,112

  • 3 · Investment income

    total $72,061 · related or exempt $72,061

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $559,540 · related or exempt $559,540

  • 11b · Other revenue: OTHER CAPITAL CREDITS

    total $211,339 · related or exempt $211,339

  • 11e · Other revenue, total

    $770,879

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,797,287

  • 5 · Compensation of officers, directors and key employees

    total $711,062

  • 7 · Other salaries and wages

    total $590,620

  • 20 · Interest

    total $1,387,515

  • 22 · Depreciation, depletion and amortization

    total $3,779,739

  • 24a · Other expenses: COST OF PURCHASED POWER

    total $18,326,612

  • 24b · Other expenses: DISTRIBUTION EXP - OPER

    total $2,924,042

  • 24c · Other expenses: DISTRIBUTION EXP - MAINT

    total $1,341,599

  • 24d · Other expenses: PROPERTY TAX

    total $1,038,350

  • 24e · All other expenses

    total $1,310,749

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $383,260 · end of year $965,694

  • 2 · Savings and temporary cash investments

    beginning of year $664,044 · end of year $928,688

  • 4 · Accounts receivable

    beginning of year $2,795,538 · end of year $3,053,367

  • 7 · Other notes and loans receivable

    beginning of year $55,732 · end of year $156,019

  • 8 · Inventories for sale or use

    beginning of year $2,213,743 · end of year $3,114,519

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

    $103,026,356

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

    $33,131,375

  • 10c · Land, buildings and equipment, net

    beginning of year $68,226,444 · end of year $69,894,981

  • 11 · Investments: publicly traded securities

    beginning of year $11,505,897 · end of year $11,806,334

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,543,803 · end of year $2,597,291

  • 23 · Secured mortgages and notes payable

    beginning of year $37,499,420 · end of year $38,373,259

  • 25 · Other liabilities

    beginning of year $1,356,943 · end of year $1,638,083

  • 31 · Retained earnings, endowment or other funds

    beginning of year $45,444,492 · end of year $47,310,969

Mission and programs · 2022

Mission

PROVIDE ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE.

Activities or mission (Part I)

TO DISTRIBUTE ELECTRICITY TO OUR MEMBERS IN AN EFFICIENT AND COST EFFECTIVE MANNER. WE ONLY DISTRIBUTE ELECTRICITY TO OUR MEMBERS.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • Allen Thiessen

    PRESIDENT

    Total calculated
    $33,260
    From this org
    $33,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Greg Rauschendorfer

    VICE PRESIDE

    Total calculated
    $35,010
    From this org
    $35,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dennis Schmierer

    SECRETARY

    Total calculated
    $33,510
    From this org
    $33,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Colin Gartner

    TRUSTEE

    Total calculated
    $34,260
    From this org
    $34,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dennis Nelson

    TRUSTEE

    Total calculated
    $38,260
    From this org
    $38,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Vitt

    TRUSTEE

    Total calculated
    $32,060
    From this org
    $32,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Timothy Franzen

    TRUSTEE

    Total calculated
    $31,010
    From this org
    $31,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jason Brothen

    CEO

    Total calculated
    $199,472
    From this org
    $199,472
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,472
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $199,472

  • Chris Hillesland

    COO

    Total calculated
    $153,020
    From this org
    $153,020
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,020
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $153,020

  • Corey Candee

    CIO

    Total calculated
    $121,200
    From this org
    $121,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Kelly Keysor

    OPERATIONS M

    Total calculated
    $116,825
    From this org
    $116,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Kyle Kavanagh

    EMPLOYEE

    Total calculated
    $120,357
    From this org
    $120,357
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Richard Gorde

    FOREMAN

    Total calculated
    $114,590
    From this org
    $114,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ryder Peterson

    EMPLOYEE

    Total calculated
    $122,875
    From this org
    $122,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jesse Obergfell

    LINEMAN

    Total calculated
    $115,973
    From this org
    $115,973
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2023
IRS schema version
2022v5.0
Source object
202341369349300149

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