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Nonprofiteer
← PEACE RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by PEACE RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$139,560,560
Total expenses
$139,560,560
Contributions and grants received
$0
Grants paid
$13,500
Program service revenue
$139,329,331
Investment income
$195,965
Other revenue
$35,264
Total assets, end of year
$370,420,180
Total liabilities, end of year
$248,908,952
Net assets or fund balances, end of year
$121,511,228
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 $137,665,126 · related or exempt $137,665,126

  • 2b · Program service revenue: CAPITAL CREDITS - OTHER

    total $648,166 · excluded $648,166

  • 2c · Program service revenue: METER LEASES

    total $625,038 · related or exempt $625,038

  • 2d · Program service revenue: POLE RENTAL

    total $391,001 · excluded $391,001

  • 3 · Investment income

    total $144,476 · excluded $144,476

  • 6a · Gross rents

    real property $35,264

  • 6c · Rental income or loss

    real property $35,264

  • 6d · Net rental income or loss

    total $35,264 · excluded $35,264

  • 7a · Gross sales of assets other than inventory

    other assets $52,077

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

    other assets $588

  • 7c · Gain or loss

    other assets $51,489

  • 7d · Net gain or loss

    total $51,489 · related or exempt $51,489

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,500

  • 4 · Benefits paid to or for members

    total $8,153,109

  • 5 · Compensation of officers, directors and key employees

    total $597,121

  • 7 · Other salaries and wages

    total $1,255,744

  • 20 · Interest

    total $7,203,449

  • 22 · Depreciation, depletion and amortization

    total $11,285,882

  • 24a · Other expenses: COST OF POWER

    total $87,270,598

  • 24b · Other expenses: DISTRIBUTION EXPENSE - MA

    total $9,616,627

  • 24c · Other expenses: ADMINISTRATIVE & GENERAL

    total $6,007,328

  • 24d · Other expenses: DISTRIBUTION EXPENSE - OP

    total $5,395,833

  • 24e · All other expenses

    total $2,761,369

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $7,871,599 · end of year $2,197,967

  • 4 · Accounts receivable

    beginning of year $28,351,187 · end of year $25,678,433

  • 8 · Inventories for sale or use

    beginning of year $16,220,398 · end of year $19,488,487

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,243,768 · end of year $148,123

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

    $390,213,816

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

    $100,924,970

  • 10c · Land, buildings and equipment, net

    beginning of year $260,083,873 · end of year $289,288,846

  • 13 · Investments: program-related

    beginning of year $30,047,379 · end of year $33,289,858

  • 15 · Other assets

    beginning of year $297,209 · end of year $328,466

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,481,406 · end of year $11,754,636

  • 23 · Secured mortgages and notes payable

    beginning of year $179,482,538 · end of year $185,950,806

  • 24 · Unsecured notes and loans payable

    beginning of year $17,096,437 · end of year $29,949,411

  • 25 · Other liabilities

    beginning of year $14,673,981 · end of year $21,254,099

  • 29 · Capital stock, trust principal or current funds

    beginning of year $239,515 · end of year $260,255

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $3,810,170 · end of year $4,131,674

  • 31 · Retained earnings, endowment or other funds

    beginning of year $108,331,366 · end of year $117,119,299

Mission and programs · 2023

Mission

TO PROVIDE OUR MEMBERS RELIABLE ELECTRIC SERVICE AND EXCELLENT CUSTOMER SERVICE AT AFFORDABLE RATES.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS. 63,377 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

As filed on the 2023 return.

Listed in Part VII

  • Randall W Shaw

    GENERAL MANA

    Total calculated
    $510,279
    From this org
    $376,984
    From related orgs
    $0
    Other
    $133,295
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $373,648
    Bonus
    not reported
    Other
    $3,336
    Deferred
    $110,974
    Nontaxable benefits
    $22,321
    Filer's total
    $510,279

  • Louise F Blackman

    VP - MEMBER

    Total calculated
    $343,654
    From this org
    $224,487
    From related orgs
    $0
    Other
    $119,167
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $222,750
    Bonus
    not reported
    Other
    $1,737
    Deferred
    $106,407
    Nontaxable benefits
    $12,760
    Filer's total
    $343,654

  • Paul A Roberts

    VP OF ENGINE

    Total calculated
    $266,618
    From this org
    $213,329
    From related orgs
    $0
    Other
    $53,289
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $209,999
    Bonus
    not reported
    Other
    $3,330
    Deferred
    $29,967
    Nontaxable benefits
    $23,322
    Filer's total
    $266,618

  • Van Crawford

    VP OF OPERAT

    Total calculated
    $253,490
    From this org
    $183,811
    From related orgs
    $0
    Other
    $69,679
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $180,096
    Bonus
    not reported
    Other
    $3,715
    Deferred
    $59,437
    Nontaxable benefits
    $10,242
    Filer's total
    $253,490

  • James Fones

    VP OF MKTG &

    Total calculated
    $221,026
    From this org
    $155,568
    From related orgs
    $0
    Other
    $65,458
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $154,881
    Bonus
    not reported
    Other
    $687
    Deferred
    $41,082
    Nontaxable benefits
    $24,376
    Filer's total
    $221,026

  • Tanner R Smith

    LINEMAN FIRS

    Total calculated
    $170,957
    From this org
    $155,291
    From related orgs
    $0
    Other
    $15,666
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $155,205
    Bonus
    not reported
    Other
    $86
    Deferred
    $7,481
    Nontaxable benefits
    $8,185
    Filer's total
    $170,957

  • Ellen Bachman

    DIRECTOR

    Total calculated
    $15,300
    From this org
    $15,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Marie Dasher

    DIRECTOR

    Total calculated
    $13,700
    From this org
    $13,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Leonard Crawley

    DIRECTOR

    Total calculated
    $12,583
    From this org
    $5,200
    From related orgs
    $0
    Other
    $7,383
    Hours/week
    3

  • Bruce Vickers

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Hollis Albritton Jr

    SECRETARY/TR

    Total calculated
    $9,700
    From this org
    $9,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • John Martin

    PRESIDENT

    Total calculated
    $7,700
    From this org
    $7,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Willie Dawes

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Chris Portale

    ASST SECRETA

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kenneth Oden

    VICE PRESIDE

    Total calculated
    $5,600
    From this org
    $5,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 · Independent compensation consultant
  • 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

  • LAKEWOOD RANCH HIGH SCHOOL

    $13,500

    SCOREBOARD

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
2023
Filed
25 April 2025
IRS schema version
2023v6.0
Source object
202521199349302752

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