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Nonprofiteer
← SIERRA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by SIERRA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$10,580,863
Total expenses
$10,580,863
Contributions and grants received
$0
Grants paid
$8,911
Program service revenue
$10,466,304
Investment income
$81,771
Other revenue
$32,788
Total assets, end of year
$27,932,125
Total liabilities, end of year
$16,131,454
Net assets or fund balances, end of year
$11,800,671
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 $10,358,950 · related or exempt $10,358,950

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $94,176 · related or exempt $94,176

  • 2c · Program service revenue: SERVICE FEES

    total $13,178 · related or exempt $13,178

  • 3 · Investment income

    total $81,771 · excluded $81,771

  • 10a · Gross sales of inventory

    $552

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $552 · related or exempt $552

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $32,236 · excluded $32,236

  • 11e · Other revenue, total

    $32,236

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,911

  • 4 · Benefits paid to or for members

    total $686,869

  • 5 · Compensation of officers, directors and key employees

    total $241,249

  • 7 · Other salaries and wages

    total $709,325

  • 8 · Pension plan contributions

    total $59,213

  • 9 · Other employee benefits

    total $211,344

  • 10 · Payroll taxes

    total $65,925

  • 20 · Interest

    total $456,798

  • 22 · Depreciation, depletion and amortization

    total $760,800

  • 24a · Other expenses: PURCHASED POWER

    total $6,377,344

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $443,041

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $410,569

  • 24d · Other expenses: CONSUMER EXPENSE

    total $122,267

  • 24e · All other expenses

    total $27,208

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $236,460 · end of year $355,490

  • 2 · Savings and temporary cash investments

    beginning of year $3,125,000 · end of year $2,275,000

  • 4 · Accounts receivable

    beginning of year $845,046 · end of year $1,117,211

  • 8 · Inventories for sale or use

    beginning of year $213,381 · end of year $198,508

  • 9 · Prepaid expenses and deferred charges

    beginning of year $418,151 · end of year $507,128

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

    $27,427,187

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

    $9,233,257

  • 10c · Land, buildings and equipment, net

    beginning of year $17,981,707 · end of year $18,193,930

  • 11 · Investments: publicly traded securities

    beginning of year $807,299 · end of year $722,986

  • 13 · Investments: program-related

    beginning of year $4,514,241 · end of year $4,561,872

  • 15 · Other assets

    beginning of year $146,378 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $726,467 · end of year $743,610

  • 23 · Secured mortgages and notes payable

    beginning of year $15,405,967 · end of year $14,712,591

  • 25 · Other liabilities

    beginning of year $672,947 · end of year $675,253

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $11,482,282 · end of year $11,800,671

Mission and programs · 2022

Mission

SIERRA ELECTRIC COOPERATIVE IS DEDICATED TO PROVIDING HIGH QUALITY, RELIABLE ELECTRIC SERVICE AND RELATED PRODUCTS TO OUR MEMBERS AT COMPETITIVE PRICES. OUR MEMBERS DESERVE AND SHALL RECEIVE QUALITY SERVICE UNPARALLELED IN OUR INDUSTRY. WE ARE COMMITTED TO MAINTAINING AN ENVIRONMENT WHERE THE BOARD OF TRUSTEES AND EMPLOYEES CAN PERFORM AT MAXIMUM POTENTIAL TO BENEFIT OUR COMMUNITY.

Activities or mission (Part I)

TO PROVIDE ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • SALE OF ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 4,600 ACTIVE SERVICES AT YEAR END.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • George Biel

    TREASURER

    Total calculated
    $10,990
    From this org
    $10,990
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.9

  • John Bokich Jan-March

    TRUSTEE

    Total calculated
    $3,178
    From this org
    $3,178
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Dennis Franklin

    TRUSTEE

    Total calculated
    $9,197
    From this org
    $9,197
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tami Garrett

    SECRETARY

    Total calculated
    $8,730
    From this org
    $8,730
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.4

  • Judy Smith

    TRUSTEE

    Total calculated
    $8,233
    From this org
    $8,233
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Thomas Stroup Jan-July

    TRUSTEE

    Total calculated
    $4,525
    From this org
    $4,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.7

  • Darryl Sullivan

    PREDIDENT

    Total calculated
    $10,510
    From this org
    $10,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.8

  • Warren Strong

    TRUSTEE

    Total calculated
    $9,330
    From this org
    $9,330
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.4

  • Raymond Ruffini

    VICE PRESIDENT

    Total calculated
    $10,005
    From this org
    $10,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Paul Scott March-Dec

    TRUSTEE

    Total calculated
    $6,320
    From this org
    $6,320
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Denise Barrera

    GENERAL MANAGER

    Total calculated
    $160,231
    From this org
    $135,405
    From related orgs
    $0
    Other
    $24,826
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $122,570
    Bonus
    $10,000
    Other
    $2,835
    Deferred
    $14,024
    Nontaxable benefits
    $10,802
    Filer's total
    $160,231

  • Ofelia Melendez

    MANAGER OF FINANCE & ADMIN

    Total calculated
    $146,491
    From this org
    $106,391
    From related orgs
    $0
    Other
    $40,100
    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

  • 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.

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
15 November 2023
IRS schema version
2022v5.0
Source object
202343199349324384

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