Riverside Electric Company Ltd
- Assets
- $2.0m
- Revenue
- $958.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Rupert, ID
- Founding
- 01/1972
- Data as of
- 09/2022
- EIN
- 82-0159335
Organization Overview
Riverside Electric Company Ltd is located in Rupert, ID. The organization was established in 1972. 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 09/2022, Riverside Electric Company Ltd employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside Electric Company Ltd 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 09/2022, Riverside Electric Company Ltd generated $958.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $824.8k during the year ending 09/2022. While expenses have increased by 6.7% 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 RURAL ELECTRIC SERVICE TO OVER 500 PATRONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RURAL ELECTRIC SERVICE TO OVER 500 PATRONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Surrage Secretary | Officer | 40 | $115,899 |
Leonard Barendregt Director | Trustee | 1 | $1,040 |
Bob Studer Director | Trustee | 1 | $1,040 |
Kenneth Bailey Director | Trustee | 1 | $960 |
Dick Byce Director | Trustee | 1 | $880 |
Mike O'donnell Director | Trustee | 1 | $880 |
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 | $771,199 |
| Investment income | $563 |
| 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 | $958,879 |
| 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. | $121,579 |
| Compensation of current officers, directors, key employees. | $5,680 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $181,139 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $64,877 |
| Payroll taxes | $24,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,660 |
| 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 | $12,947 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,171 |
| Insurance | $67,352 |
| All other expenses | $32,810 |
| Total functional expenses | $824,811 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $426,664 |
| Savings and temporary cash investments | $257,079 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $113,476 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $421,151 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $734,187 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,952,557 |
| Accounts payable and accrued expenses | $208,765 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $208,765 |
| Net assets without donor restrictions | $1,743,792 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,952,557 |
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