Plumas-Sierra Rural Electric Cooperative Inc
- Assets
- $103.4m
- Revenue
- $30.1m
- Investments
- $8.1m
- Employees
- 68
- Location
- Portola, CA
- Founding
- 07/1939
- Data as of
- 12/2022
- EIN
- 94-0775035
Organization Overview
Plumas-Sierra Rural Electric Cooperative Inc is located in Portola, CA. The organization was established in 1939. 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, Plumas-Sierra Rural Electric Cooperative Inc employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumas-Sierra 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, Plumas-Sierra Rural Electric Cooperative Inc generated $30.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $37.1m during the year ending 12/2022. While expenses have increased by 6.3% 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
PROVIDE ELECTRICAL SERVICE TO COOPERATIVE MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE PROVIDES ELECTRICAL SERVICE TO COOPERATIVE MEMBERS. AS OF DECEMBER 31, 2022 THERE WERE 8,176 CUSTOMERS BILLED FOR SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Hammond Director | Trustee | 12 | $12,971 |
Dave Roberti Vice President | OfficerTrustee | 10 | $9,391 |
David Hansen Secretary/treasurer | OfficerTrustee | 15 | $15,052 |
Nancy Miller Director | Trustee | 8 | $9,732 |
Fred Nelson President | OfficerTrustee | 4 | $13,824 |
Richard Short Director | Trustee | 6 | $8,168 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dave Sims Toppers Tree Service Tree Trimming | 12/30/22 | $712,283 |
Jimmy D West Jim West Tree Service Tree Trimming | 12/30/22 | $463,775 |
James E Koskinen Vehicle Service & Repairs | 12/30/22 | $315,070 |
Brandon Hostetter Hostetter Tree Servic Tree Trimming | 12/30/22 | $121,639 |
Somach Simmons & Dunn Attorney (Legal Services) | 12/30/22 | $108,095 |
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 | $29,329,772 |
| Investment income | $592,426 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $187,798 |
| 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 | $30,112,543 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $884 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $61,337 |
| Compensation of current officers, directors, key employees. | $1,052,956 |
| 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 | $1,749,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,187,742 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $37,082,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,542,292 |
| Savings and temporary cash investments | $3,096,958 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,652,953 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $196,586 |
| Net Land, buildings, and equipment | $69,785,511 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,114,248 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,968,682 |
| Total assets | $103,357,230 |
| Accounts payable and accrued expenses | $7,447,488 |
| Grants payable | $0 |
| Deferred revenue | $314,142 |
| 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 | $55,315,936 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,422,089 |
| Total liabilities | $67,499,655 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $33,510 |
| Paid-in or capital surplus, or land, building, or equipment fund | $35,824,065 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $103,357,230 |