Powder River Energy Corporation
- Assets
- $491.1m
- Revenue
- $177.0m
- Investments
- $15.3m
- Employees
- 136
- Location
- Sundance, WY
- Founding
- 02/1956
- Data as of
- 12/2022
- EIN
- 83-0162161
Organization Overview
Powder River Energy Corporation is located in Sundance, WY. The organization was established in 1956. 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, Powder River Energy Corporation employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Powder River Energy Corporation 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, Powder River Energy Corporation generated $177.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $177.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 8 years. 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
DISTRIBUTES ELECTRIC SERVICE TO RURAL CUSTOMERS IN NORTHEAST WYOMING AND SOUTHEASTERN MONTANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY FUNCTION OF POWDER RIVER ENERGY CORPORATION, A NONPROFIT COOPERATIVE ORGANIZATION, IS THE DISTRIBUTION OF ELECTRICITY TO ITS 12,686 MEMBER-OWNERS UNDER 501 (C) (12). IN 2022, THE COMPANY SOLD ITS MEMBER-OWNERS 2,034,599,896 KWH OF ELECTRICITY WITH A PEAK CONICIDENT LOAD OF 311,195 KW IN FEBRUARY. THE COMPANY ADDED ROUGHLY $4 MILLION IN UTILITY PLANT IN ORDER TO EXTEND AND IMPROVE SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reuben Ritthaler President-Thru 9/19/22 | OfficerTrustee | 5 | $11,800 |
Clay Branscom Director | Trustee | 5 | $7,750 |
Philip Habeck Vice President | OfficerTrustee | 5 | $7,900 |
James Baumgartner Director | Trustee | 5 | $6,550 |
Gerald Geis Secretary/treasurer | OfficerTrustee | 5 | $14,350 |
Mike Lohse Director | Trustee | 11 | $9,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northeast Wy Construction Inc Contract Labor | 12/30/22 | $534,929 |
Wilson Power & Tree Service Llc Contract Labor | 12/30/22 | $532,071 |
Schulte Ta Inc Contract Labor | 12/30/22 | $891,282 |
Western Line Builders Contract Labor | 12/30/22 | $403,185 |
Constellation Energy Corp Contract Labor | 12/30/22 | $349,342 |
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 | $176,486,655 |
| Investment income | $390,454 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,693 |
| Net Gain/Loss on Asset Sales | $80,923 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $176,963,725 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $228,012 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $15,932,660 |
| Compensation of current officers, directors, key employees. | $1,540,625 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,369,803 |
| Pension plan accruals and contributions | $2,540,979 |
| Other employee benefits | $2,108,623 |
| Payroll taxes | $713,005 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $109,500 |
| Fees for services: Accounting | $44,343 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,558 |
| Fees for services: Other | $172,773 |
| Advertising and promotion | $65,069 |
| 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 | $5,150,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,704,198 |
| Insurance | $0 |
| All other expenses | $2,202,973 |
| Total functional expenses | $176,963,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,750 |
| Savings and temporary cash investments | $22,721,446 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,246,290 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,411,706 |
| Inventories for sale or use | $6,806,232 |
| Prepaid expenses and deferred charges | $1,214,590 |
| Net Land, buildings, and equipment | $215,182,468 |
| Investments—publicly traded securities | $18,049,384 |
| Investments—other securities | $15,261,841 |
| Investments—program-related | $148,817,988 |
| Intangible assets | $122,869 |
| Other assets | $44,311,903 |
| Total assets | $491,148,467 |
| Accounts payable and accrued expenses | $19,409,866 |
| Grants payable | $0 |
| Deferred revenue | $18,500,000 |
| 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 | $172,460,689 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,412,796 |
| Total liabilities | $261,783,351 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $229,365,116 |
| Total liabilities and net assets/fund balances | $491,148,467 |
Grants Awarded
Over the last fiscal year, Powder River Energy Corporation has awarded $54,028 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
POWDER RIVER ENERGY CORPORATION FOUNDATION PURPOSE: CHARITABLE DONATION | $40,278 |
CROOK CO MUSEUM DISTRICT PURPOSE: CHARITABLE DONATION | $13,750 |