Bedford Rural Electric Cooperative Inc
- Assets
- $61.4m
- Revenue
- $11.4m
- Investments
- $0.0
- Employees
- 31
- Location
- Bedford, PA
- Founding
- 10/1940
- Data as of
- 12/2022
- EIN
- 23-0394875
Organization Overview
Bedford Rural Electric Cooperative Inc is located in Bedford, PA. The organization was established in 1940. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Bedford Rural Electric Cooperative Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bedford Rural Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2022, Bedford Rural Electric Cooperative Inc generated $11.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $11.4m during the year ending 12/2022. While expenses have increased by 5.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF ELECTRICITY TO MEMBERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.
DISTRIBUTION OF ELECTRICITY TO MEMBER/OWNERS IN RURAL BEDFORD, PA ON A COOPERATIVE BASIS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Earl Garland Director | Trustee | 5 | $5,010 |
Paul Rummel Jr Secretary | OfficerTrustee | 5 | $5,310 |
Dale Sprigg II Director | Trustee | 5 | $5,763 |
John Oldham Director (resigned Dec 2022) | Trustee | 5 | $1,496 |
Ronald Wilkins President | OfficerTrustee | 5 | $4,457 |
Reuben Lafferty Treasurer | OfficerTrustee | 5 | $5,010 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ayers Line Construction Line Construction | 12/30/22 | $1,876,700 |
B&l Tree Service Tree Trimming | 12/30/22 | $1,200,985 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $42,145 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $186,841 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $8,901,392 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,384,083 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,535,607 |
| Compensation of current officers, directors, key employees. | $461,332 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $542,694 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,537,120 |
| Insurance | $0 |
| All other expenses | $216,324 |
| Total functional expenses | $11,384,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $502,351 |
| Savings and temporary cash investments | $49,262 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,724,546 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,217,463 |
| Prepaid expenses and deferred charges | $292,924 |
| Net Land, buildings, and equipment | $42,358,477 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $14,274,028 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $61,419,051 |
| Accounts payable and accrued expenses | $3,269,817 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $22,142,742 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,647,002 |
| Total liabilities | $27,059,561 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $346,902 |
| Retained earnings, endowment, accumulated income, or other funds | $34,012,588 |
| Total liabilities and net assets/fund balances | $61,419,051 |