White River Elec Assoc Inc
- Assets
- $92.8m
- Revenue
- $48.8m
- Investments
- $0.0
- Employees
- 28
- Location
- Meeker, CO
- Founding
- 06/1963
- Data as of
- 12/2022
- EIN
- 84-0372091
Organization Overview
White River Elec Assoc Inc is located in Meeker, CO. The organization was established in 1963. According to its NTEE Classification (C03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Environment and related organizations. As of 12/2022, White River Elec Assoc Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. White River Elec Assoc 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, White River Elec Assoc Inc generated $48.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $48.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 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
WHITE RIVER ELECTRIC ASSOCIATION, INC. STRIVES TO PROVIDE ITS MEMBERS/CONSUMERS WITH SAFE, RELIABLE AND REASONABLE ELECTRIC ENERGY AND OTHER SERVICES AT THE MOST REASONABLE COSTS POSSIBLE WHILE REMAINING COMMITTED TO CUSTOMER AND COMMUNITY SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WHITE RIVER ELECTRIC ASSOCIATION, INC. IS A RURAL ELECTRIC DISTRIBUTION COOPERATIVE SERVING PARTS OF RIO BLANCO, MOFFAT, AND GARFIELD COUNTIES IN COLORADO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan J Michalewicz CEO | Officer | 40 | $340,839 |
Dale K Dunbar CFO | Officer | 40 | $221,808 |
Trina K Zagar-Brown Mbr Svc Mgr/ | Officer | 40 | $207,151 |
Christopher Reidinger Staff Engine | 40 | $146,399 | |
Brett A Berthelson Mgr Of Opera | 40 | $136,670 | |
Frank L Sampson Mgr Of Opera | $131,945 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cypress Creek Fund 15 Tenant Llc Solar Farm | 12/30/21 | $470,072 |
High Rise Tree Care Llc Tree Trimming | 12/30/21 | $112,055 |
Valcom Salt Lake City Llc Software/it Sup | 12/30/21 | $108,839 |
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 | $47,954,810 |
| Investment income | $42,985 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $76,654 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,823,595 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $473,896 |
| Compensation of current officers, directors, key employees. | $1,268,609 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $155,487 |
| Other salaries and wages | $393,671 |
| 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 | $487,798 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,179,039 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $48,823,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,220,742 |
| Savings and temporary cash investments | $968,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,037,350 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,877,928 |
| Prepaid expenses and deferred charges | $848,423 |
| Net Land, buildings, and equipment | $31,057,587 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $48,355,324 |
| Intangible assets | $0 |
| Other assets | $470,560 |
| Total assets | $92,836,265 |
| Accounts payable and accrued expenses | $3,173,733 |
| Grants payable | $0 |
| Deferred revenue | $988,855 |
| 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 | $14,200,223 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,024,727 |
| Total liabilities | $23,387,538 |
| 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 | $5,422,807 |
| Retained earnings, endowment, accumulated income, or other funds | $64,025,920 |
| Total liabilities and net assets/fund balances | $92,836,265 |