Bright Energy Inc
- Assets
- $5.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Mt Gilead, OH
- Founding
- 01/2002
- Data as of
- 12/2023
- EIN
- 34-1851659
Organization Overview
Bright Energy Inc is located in Mt Gilead, OH. The organization was established in 2002. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright Energy 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 12/2023, Bright Energy Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $2.1m during the year ending 12/2023. While expenses have increased by 10.9% per year over the past 9 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
BRIGHT ENERGY, INC. PROVIDES RETAIL NATURAL GAS DISTRIBUTION SERVICES TO LIMITED AREAS IN NORTH CENTRAL OHIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE RETAIL NATURAL GAS DISTRIBUTION SERVICES TO LIMITED AREAS IN NORTH CENTRAL OHIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Struck Chairman | OfficerTrustee | 1.4 | $0 |
Timothy G Bachelder Trustee | Trustee | 1.8 | $0 |
Mary Fuller Secretary | OfficerTrustee | 0.5 | $0 |
Kent Kramer Trustee | Trustee | 0.6 | $0 |
Don Breece Trustee | Trustee | 0.8 | $0 |
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 | $2,168,490 |
| Investment income | $19,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,187,573 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $3,774 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,828 |
| Office expenses | $17,164 |
| Information technology | $14,384 |
| Royalties | $0 |
| Occupancy | $1,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,911 |
| Interest | $74,538 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $239,672 |
| Insurance | $93,634 |
| All other expenses | $37,928 |
| Total functional expenses | $2,075,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $302,568 |
| 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 | $184,405 |
| Net Land, buildings, and equipment | $4,525,119 |
| Investments—publicly traded securities | $55,177 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,067,269 |
| Accounts payable and accrued expenses | $1,871,298 |
| 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 | $1,406,623 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $327,684 |
| Total liabilities | $3,605,605 |
| 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 | $932,369 |
| Retained earnings, endowment, accumulated income, or other funds | $529,295 |
| Total liabilities and net assets/fund balances | $5,067,269 |