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Nonprofiteer
← WHEATLAND RURAL ELECTRIC ASSOCIATION

Form 990 for tax year 2023

Filed by WHEATLAND RURAL ELECTRIC ASSOCIATION.

Totals

Total revenue
$18,094,138
Total expenses
$18,094,138
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$17,411,220
Investment income
$604,981
Other revenue
$77,937
Total assets, end of year
$41,243,205
Total liabilities, end of year
$20,074,678
Net assets or fund balances, end of year
$21,168,527
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 $17,123,453 · related or exempt $17,123,453

  • 2b · Program service revenue: Capital Credits

    total $189,056 · related or exempt $189,056

  • 2c · Program service revenue: Other Operating

    total $98,711 · related or exempt $98,711

  • 3 · Investment income

    total $604,981 · excluded $604,981

  • 6a · Gross rents

    personal property $3,937

  • 6c · Rental income or loss

    personal property $3,937

  • 6d · Net rental income or loss

    total $3,937 · excluded $3,937

  • 11a · Other revenue: Non Operating

    total $74,000 · related or exempt $74,000

  • 11e · Other revenue, total

    $74,000

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,335,282

  • 5 · Compensation of officers, directors and key employees

    total $627,048

  • 7 · Other salaries and wages

    total $140,265

  • 20 · Interest

    total $984,638

  • 22 · Depreciation, depletion and amortization

    total $983,542

  • 24a · Other expenses: Cost of Power

    total $10,997,914 · program services $10,997,914

  • 24b · Other expenses: Distribution Expense

    total $1,152,626 · program services $1,152,626

  • 24c · Other expenses: Admin & General

    total $1,601,121 · program services $1,601,121

  • 24d · Other expenses: Member Services

    total $247,368 · program services $247,368

  • 24e · All other expenses

    total $24,334

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,431,827 · end of year $1,892,311

  • 2 · Savings and temporary cash investments

    beginning of year $6,000,000 · end of year $3,685,244

  • 4 · Accounts receivable

    beginning of year $1,525,645 · end of year $1,553,014

  • 8 · Inventories for sale or use

    beginning of year $541,669 · end of year $508,205

  • 9 · Prepaid expenses and deferred charges

    beginning of year $261,230 · end of year $289,511

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

    $39,773,344

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

    $16,141,450

  • 10c · Land, buildings and equipment, net

    beginning of year $21,234,700 · end of year $23,631,894

  • 13 · Investments: program-related

    beginning of year $9,937,535 · end of year $9,683,026

  • 15 · Other assets

    beginning of year $26,995

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,167,603 · end of year $1,159,308

  • 23 · Secured mortgages and notes payable

    beginning of year $20,977,945 · end of year $18,935,635

  • 25 · Other liabilities

    beginning of year $157,524 · end of year -$20,265

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

    beginning of year $909,709 · end of year $915,486

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,746,820 · end of year $20,253,041

Mission and programs · 2023

Mission

See Schedule O

  • Wheatland Rural Electric Association, Inc. is a member owned electric cooperative that provides 1,806 miles of line, as well as 4,290 different services to around 1,978 members.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donald E Smith

    General Manager

    Total calculated
    $230,136
    From this org
    $196,948
    From related orgs
    $0
    Other
    $33,188
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,948
    Bonus
    not reported
    Other
    not reported
    Deferred
    $9,440
    Nontaxable benefits
    $23,748
    Filer's total
    $230,136

  • Jason Wright

    General Manager

    Total calculated
    $212,253
    From this org
    $152,912
    From related orgs
    $0
    Other
    $59,341
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,912
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,851
    Nontaxable benefits
    $44,490
    Filer's total
    $212,253

  • Rhonda Apodaca

    Office Manager

    Total calculated
    $151,348
    From this org
    $113,249
    From related orgs
    $0
    Other
    $38,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,249
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,272
    Nontaxable benefits
    $26,827
    Filer's total
    $151,348

  • Levi Eaton

    Operations Manager

    Total calculated
    $140,265
    From this org
    $104,668
    From related orgs
    $0
    Other
    $35,597
    Hours/week
    40

  • Sandra Hranchak

    Director

    Total calculated
    $10,218
    From this org
    $10,218
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Amy Miller

    Director

    Total calculated
    $8,610
    From this org
    $8,610
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Brockman

    Director

    Total calculated
    $5,692
    From this org
    $5,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jack Finnerty

    Director

    Total calculated
    $4,968
    From this org
    $4,968
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Doug Smialek

    Director

    Total calculated
    $3,823
    From this org
    $3,823
    From related orgs
    $0
    Other
    $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. 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 · 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202443039349301024

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