Benton Rural Electric Association
- Assets
- $107.4m
- Revenue
- $46.6m
- Investments
- $0.0
- Employees
- 83
- Location
- Prosser, WA
- Founding
- 12/1937
- Data as of
- 12/2023
- EIN
- 91-0143426
Organization Overview
Benton Rural Electric Association is located in Prosser, WA. The organization was established in 1937. 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 12/2023, Benton Rural Electric Association employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Benton Rural Electric Association 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 12/2023, Benton Rural Electric Association generated $46.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $46.6m during the year ending 12/2023. While expenses have increased by 0.4% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF ELECTRICITY TO RURAL COOPERATIVE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BENTON RURAL ELECTRIC ASSOCIATION (BENTON REA) IS A NOT FOR PROFIT MEMBER OWNED ELECTRIC COOPERATIVE. IT HAS APPROXIMATELY 11933 MEMBER/OWNERS TO WHOM IT DELIVERS ELECTRICITY THROUGH ITS DISTRIBUTION SYSTEM. THE SALE AND DISTRIBUTION OF ELECTRIC SERVICE IS THE MAIN PROGRAM SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Mietzner System Engineer | 58 | $384,828 | |
Troy Berglund Deputy Gm & VP Of Member Experience | Officer | 50 | $264,134 |
Derek Miller Engineering Manager | Officer | 50 | $262,247 |
Christopher Hill Line Foreman | 63 | $247,574 | |
Jeff Bastow Information Technology Manager | 40 | $232,338 | |
Steven Catlow Vice President Of Finance | Officer | 40 | $226,108 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Boyd's Tree Service Tree Trimming | 12/30/23 | $484,881 |
Palouse Power Llc Contract Labor | 12/30/23 | $1,304,183 |
Valley Transformer Inc Transformer Repair | 12/30/23 | $167,843 |
Leone & Keeble Inc General Contractor | 12/30/23 | $134,672 |
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 | $45,324,322 |
| Investment income | $159,658 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,580,456 |
| 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 | $4,147,348 |
| Compensation of current officers, directors, key employees. | $1,355,908 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,865,028 |
| Pension plan accruals and contributions | $757,711 |
| Other employee benefits | $1,527,818 |
| Payroll taxes | $670,878 |
| 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 | $48,346 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,291,787 |
| Insurance | $0 |
| All other expenses | $2,071,964 |
| Total functional expenses | $46,580,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,509,148 |
| Savings and temporary cash investments | $1,880,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,270,790 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,843,340 |
| Prepaid expenses and deferred charges | $287,690 |
| Net Land, buildings, and equipment | $92,397,490 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,177,230 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $107,365,688 |
| Accounts payable and accrued expenses | $9,611,603 |
| 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 | $1,094,908 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,412,727 |
| Total liabilities | $16,119,238 |
| 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 | $4,866,447 |
| Retained earnings, endowment, accumulated income, or other funds | $86,380,003 |
| Total liabilities and net assets/fund balances | $107,365,688 |