Civic Intelligence

Fall River Rural Electric Cooperative Inc

990 • Fiscal year 2020 • EIN 82-0117758

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 15, 2021

1150 N 3400 EAshton, ID 83420

(208) 652-7431

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.55x

Higher debt load relative to assets than 55% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

82nd percentile

1.99x

Higher debt load relative to revenue than 82% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Net Margin

86th percentile

6.3%

Higher net margin than 86% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

38th percentile

$310,181

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Asset Growth

19th percentile

1.2%

Faster asset growth than 19% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

46th percentile

-2.4%

Faster revenue growth than 46% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$123,175,101

Up $1,517,025 (+1.2%) from 2019

Net Assets

Up

$55,136,746

Up $2,407,112 (+4.6%) from 2019

Liabilities

Down

$68,038,355

Down $890,087 (-1.3%) from 2019

Revenue

Down

$34,248,356

Down $856,104 (-2.4%) from 2019

Expenses

Up

$32,093,659

Up $129,552 (+0.4%) from 2019

Net Income

Down

$2,154,697

Down $985,656 (-31%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2011: $114,022,821Liabilities 2011: $81,889,532Net Assets 2011: $32,133,2892011Assets 2012: $114,434,549Liabilities 2012: $80,117,410Net Assets 2012: $34,317,1392012Assets 2013: $117,149,349Liabilities 2013: $81,100,247Net Assets 2013: $36,049,1022013Assets 2014: $116,426,605Liabilities 2014: $78,140,399Net Assets 2014: $38,286,2062014Assets 2015: $116,138,193Liabilities 2015: $75,827,165Net Assets 2015: $40,311,0282015Assets 2016: $115,785,439Liabilities 2016: $73,012,602Net Assets 2016: $42,772,8372016Assets 2017: $120,260,490Liabilities 2017: $74,729,004Net Assets 2017: $45,531,4862017Assets 2018: $120,546,166Liabilities 2018: $71,543,720Net Assets 2018: $49,002,4462018Assets 2019: $121,658,076Liabilities 2019: $68,928,442Net Assets 2019: $52,729,6342019Assets 2020: $123,175,101Liabilities 2020: $68,038,355Net Assets 2020: $55,136,7462020Assets 2021: $121,834,255Liabilities 2021: $62,828,955Net Assets 2021: $59,005,3002021Assets 2022: $131,391,941Liabilities 2022: $69,589,574Net Assets 2022: $61,802,3672022Assets 2023: $133,594,021Liabilities 2023: $68,176,425Net Assets 2023: $65,417,5962023Assets 2024: $132,936,260Liabilities 2024: $63,536,922Net Assets 2024: $69,399,3382024

Highlighted filing

2020

Assets$123,175,101
Liabilities$68,038,355
Net Assets$55,136,746

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0Revenue 2011: $25,687,170Expenses 2011: $23,094,054Net Income 2011: $2,593,1162011Revenue 2012: $26,493,956Expenses 2012: $24,419,368Net Income 2012: $2,074,5882012Revenue 2013: $27,688,736Expenses 2013: $26,137,289Net Income 2013: $1,551,4472013Revenue 2014: $28,926,126Expenses 2014: $26,863,915Net Income 2014: $2,062,2112014Revenue 2015: $28,518,779Expenses 2015: $26,566,306Net Income 2015: $1,952,4732015Revenue 2016: $30,123,641Expenses 2016: $27,377,190Net Income 2016: $2,746,4512016Revenue 2017: $31,281,142Expenses 2017: $28,522,493Net Income 2017: $2,758,6492017Revenue 2018: $33,554,546Expenses 2018: $30,449,961Net Income 2018: $3,104,5852018Revenue 2019: $35,104,460Expenses 2019: $31,964,107Net Income 2019: $3,140,3532019Revenue 2020: $34,248,356Expenses 2020: $32,093,659Net Income 2020: $2,154,6972020Revenue 2021: $35,032,975Expenses 2021: $31,827,849Net Income 2021: $3,205,1262021Revenue 2022: $37,199,047Expenses 2022: $36,206,598Net Income 2022: $992,4492022Revenue 2023: $38,331,466Expenses 2023: $36,665,373Net Income 2023: $1,666,0932023Revenue 2024: $42,107,842Expenses 2024: $38,501,090Net Income 2024: $3,606,7522024

Highlighted filing

2020

Revenue$34,248,356
Expenses$32,093,659
Net Income$2,154,697
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 15, 2021
Return Version
2020v4.1
Gross Receipts
$34,260,041
Mission and Program Overview

Mission

Provide electric service to its members at the lowest cost consistent with sound economy and good management.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$94,594,860$92,926,398▼ $1,668,462
Pd in Cap Srpls Land Bldg Eqp Fund$51,792,117$54,027,782▲ $2,235,665
Cash and Non-Interest-Bearing Accounts$6,937,053$10,048,060▲ $3,111,007
Investments Program Related$5,832,885$6,017,941▲ $185,056
Accounts Receivable$5,350,254$5,518,845▲ $168,591
Other Notes and Loans Receivable, Net$4,040,503$4,452,380▲ $411,877
Prepaid Expenses and Deferred Charges$3,128,314$2,295,358▼ $832,956
Inventories for Sale or Use$1,127,463$1,188,406▲ $60,943
Cap Stk Tr Prin Current Funds$937,517$1,108,964▲ $171,447
Total Assets$121,658,076$123,175,101▲ $1,517,025
Other Assets Total$646,744$727,713▲ $80,969
Liabilities
Mortgage Notes Payable Secured by Investment Property$62,745,247$60,818,759▼ $1,926,488
Accounts Payable and Accrued Expenses$4,121,600$4,793,889▲ $672,289
Other Liabilities$2,061,595$2,425,707▲ $364,112
Total Liabilities$68,928,442$68,038,355▼ $890,087
Net Assets / Fund Balance
Total Net Assets Fund Balance$52,729,634$55,136,746▲ $2,407,112
Total Liabilities and Net Assets / Fund Balance$121,658,076$123,175,101▲ $1,517,025

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$77,472,398$50,698,860$128,171,258
Buildings$11,401,206$3,114,957$14,516,163
Equipment$3,604,773$4,835,548$8,440,321
Land$448,021-$448,021
Investment Program Related Org$6,017,941--
Other Assets Org$727,713--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bryan CaseGeneral ManagerFT$225,317$84,864$310,181
David PetersonManager of EngineeringFT$162,971$67,218$230,189
Trent YanceyManager of OperationsFT$157,980$60,650$218,630
Linden BarneyCFOFT$148,150$64,934$213,084
Shannon HillManager of It ServicesFT$132,536$59,347$191,883
Sheena StrickerManager of Member ServicesFT$132,590$52,458$185,048
Tim JenkinsForman Line CrewFT$134,333$40,619$174,952
Doug SchmierPresidentdirectorPT$19,450-$19,450
Georg BehrensDirectorvice PresidentPT$18,700-$18,700
Dede DraperDirectorpresident-$17,650-$17,650
Anna LindstedtDirectorPT$17,600-$17,600
Jay HansonDirectorPT$16,150-$16,150
Brent CrowtherSecretarytreasurerPT$16,000-$16,000
Jeff KeayDirectorPT$15,700-$15,700
Jodi StiehlDirectorPT$15,000-$15,000
Brent RobsonVice PresidentdirectorPT$13,150-$13,150

Highest Paid Contractors

ContractorServicesLocationCompensation
Miller Tree ServiceTree Service48 WEST 4TH NORTH, Saint Anthony, ID 83445$172,535
Depatco Union INCConstructionPO BOX 210, Sugar City, ID 83448$163,398
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$33,373,061
Investment Income
$672,113
Other Revenue
$203,182
Change in Net Assets
$2,154,697

Audited Revenue Reconciliation

Revenue per Audited Statements
$34,248,356
Revenue Not Reported on Form 990
$80,968
Total Revenue per Audited Statements
$34,329,324
Total Revenue per Form 990
$34,248,356
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,889,525
Salaries, Compensation, and Employee Benefits$7,988,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$4,714,764
Depreciation Depletion---$4,007,730
Interest---$2,473,726
Other Expenses$1,600,583--$1,600,583
Benefits to Members---$1,215,530
Pension Plan Contributions---$1,209,455
Other Employee Benefits---$1,002,537
Current Officers, Directors, Trustees, and Key Employees---$672,664
Payroll Taxes---$389,184
Occupancy---$261,678
Office Expenses---$240,507
Conferences and Meetings---$207,520
Fees for Services Legal---$39,947
Fees for Services Accounting---$12,250
All Other Expenses---$-3,999,905
Total Functional Expenses$0$0$0$32,093,659

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$32,093,659
Expenses per Audited Statements$30,878,129
Total Expenses per Audited Statements$30,878,129
Expenses Not Reported on Financial Statements$1,215,530
Other Expense Adjustments$1,215,530
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$2,127

Section 527 Organizations

OrganizationLocationAmount
82-0404932Idaho Falls, ID$1,000
82-0502739Boise, ID$827
61-1740697Jackson, WY$300
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$2,425,707
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

Businesses and individuals which receive electric service from the cooperative.

Member election for additional members Part VI line 7A

Each year, the board of directors appoints a nominating committee. The nominating committee meets and nominates a slate of candidates to run for election to the board. Nominations by petition are also accepted for candidates to run for election to the board. The candidates are placed on a ballot and members of the organization vote at an annual meeting to elect members of the board. Voting is allowed in person at the meeting, by mail-in ballot, or electronically.

Governing body decisions Part VI line 7B

Changes in the by-laws require approval by the members of the cooperative.

Form 990 governing body review Part VI line 11

After the form 990 has been prepared by the independent accountants, the general manager and staff review the form for accuracy and completeness. Once the general manager believes the form 990 is complete and accurate, it is submitted to the board for their review. Following the board members review, the board formally approves a motion to accept the form 990. Following the acceptance by the board, the general manager signs the form 990 and files it.

Conflict of interest policy compliance Part VI line 12C

The general manager ensures the enforcement of the policy. The general manager reviews any potential conflicts of interest, at least annually, and discusses them with the board in order to determine the appropriate course of action, if necessary, in accordance with the policy.

CEO executive director top management comp Part VI line 15A

The board of directors review the general managers currect compensation and, to the extent possible, compares it to the compensation of general managers of other comparably-sized electric cooperatives within the region. Additionally, the board reviews the general managers compensation relative to the compensation of the other executive-level positions within the geographical area as a measure of reasonableness. After consideration of these factors, along with the performance of the individual under review, the board approves the general managers compensation package.

Governing documents etc available to public Part VI line 19

The organization responds to member inquiries for information and provides policies electronically on the organizations website, along with board meeting schedules and approved minutes, in accordance with board policy. For information not on the organizations website, documents are available for review upon request.

Filing and Contact Details

Filer

Filer Name
Fall River Rural Elect Cooperative Inc
EIN
82-0117758
Address
1150 N 3400 E, ASHTON, ID 83420

Signing Officer

Name
Bryan Case
Title
General Manager
Phone
2086527431
Signed
2021-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bryan Case
Formed
1938
Legal Domicile
Id
Voting Board Members
9
Independent Board Members
9
Employees
57

Preparer

Firm
Larson Pa
Address
PO BOX 1029, AFTON, WY 83110
Preparer
David Larson
Phone
3078854272
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Other changes in fund balance totalled $252,415 which $80,968 is net income from fall river enterprises, inc. And $171,447 is from other changes in equity.

Part IX response or note to any line in Part IX

The cooperative has interpreted the instructions for part ix, line 4 of the 2020 form 990, regarding patronage dividends paid, to include the total amount of capital credits retired during the tax year.

Financial Statement Notes

Other revenues not included on Form 990 (Part XI, line 2D)

Net income from fall river enterprises of $80,968.

Other expenses included on Form 990 (Part XII, line 4B)

Retirement of capital credits of $1,215,530.

Footnote for uncertain tax position under FIN 48 (Part X)

The cooperative has not identified any uncertain income tax positions that would jeopardize its tax-exempt status. The cooperatives income tax returns are subject to review and examination by federal authorities. With few exceptions, the tax returns essentially remain open for possible examination for a period of three years after the respective filing deadline of those returns.

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IRS990/Form990PartVIISectionAGrp/PersonNm14JODI STIEHL
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IRS990/Form990PartVIISectionAGrp/TitleTxt0GENERAL MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt1MANAGER OF ENGINEERING
IRS990/Form990PartVIISectionAGrp/TitleTxt2MANAGER OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt3CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt4MANAGER OF IT SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt5MANAGER OF MEMBER SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt6FORMAN LINE CREW
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENTDIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTORVICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTORPRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARYTREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDENTDIRECTOR
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IRS990/MissionDesc0PROVIDE ELECTRIC SERVICE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.
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IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt011403
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt011403
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt0201420
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0201420
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IRS990/OtherExpensesGrp/Desc2DISTRIBUTION - OPERATIONS
IRS990/OtherExpensesGrp/Desc3DISTRIBUTION - MAINTENANCE
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER NON-OPERATING INC
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01762
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IRS990/OtherSalariesAndWagesGrp/TotalAmt04714764
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IRS990/PYProgramServiceRevenueAmt034148692
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IRS990/PYSalariesCompEmpBnftPaidAmt07554651
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/Form1120POLFiledInd0false
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IRS990ScheduleC/Section527PoliticalOrgGrp/EIN0820502739
IRS990ScheduleC/Section527PoliticalOrgGrp/EIN1820404932
IRS990ScheduleC/Section527PoliticalOrgGrp/EIN2611740697
IRS990ScheduleC/Section527PoliticalOrgGrp/OrganizationBusinessName/BusinessNameLine1Txt0ICUA PAC FUND
IRS990ScheduleC/Section527PoliticalOrgGrp/OrganizationBusinessName/BusinessNameLine1Txt1REGION VII REPUBLICAN PARTY
IRS990ScheduleC/Section527PoliticalOrgGrp/OrganizationBusinessName/BusinessNameLine1Txt2TETON COUNTY DEMOCRATIC PARTY
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IRS990ScheduleC/Section527PoliticalOrgGrp/PaidInternalFundsAmt11000
IRS990ScheduleC/Section527PoliticalOrgGrp/PaidInternalFundsAmt2300
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine1Txt0407 WEST JEFFERSON ST
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine1Txt14699 E SUNNYSIDE RD
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine1Txt2432 W PEARL ST
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/CityNm0BOISE
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/CityNm1IDAHO FALLS
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/CityNm2JACKSON
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/StateAbbreviationCd0ID
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/StateAbbreviationCd1ID
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IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/ZIPCd183406
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/ZIPCd283001
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0CONTRIBUTIONS WERE MADE TO THE ICUA-PAC GOLF TOURNMENT, WHICH WAS CANCELLED DUE TO COVID; TO THE REGION VII REPUBLICAN PARTYS LINCOLN DAY BANQUET; AND TO THE TETON COUNTY DEMOCRATIC PARTY.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0Direct and indirect political campaign activities (Part I-A, line 1)
IRS990ScheduleD/BuildingsGrp/BookValueAmt011401206
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03114957
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt014516163
IRS990ScheduleD/EquipmentGrp/BookValueAmt03604773
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04835548
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08440321
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01215530
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS IN ASSOCIATED ORGANIZAT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/LandGrp/BookValueAmt0448021
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0448021
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0727713
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT IN SUBSIDIARY
IRS990ScheduleD/OtherExpensesNotIncludedAmt01215530
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt077472398
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt050698860
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0128171258
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02425707
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED CREDITS
IRS990ScheduleD/OtherRevenueAmt080968
IRS990ScheduleD/RevenueNotReportedAmt080968

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$133$63.5$69.4$42.1$38.5$3.61
2023Detailed filing. Detailed filing data is available for this year.$134$68.2$65.4$38.3$36.7$1.67
2022Detailed filing. Detailed filing data is available for this year.$131$69.6$61.8$37.2$36.2$0.99
2021Detailed filing. Detailed filing data is available for this year.$122$62.8$59.0$35.0$31.8$3.21
2020Detailed filing. Detailed filing data is available for this year.$123$68.0$55.1$34.2$32.1$2.15
2019Detailed filing. Detailed filing data is available for this year.$122$68.9$52.7$35.1$32.0$3.14
2018Detailed filing. Detailed filing data is available for this year.$121$71.5$49.0$33.6$30.4$3.10
2017Detailed filing. Detailed filing data is available for this year.$120$74.7$45.5$31.3$28.5$2.76
2016Detailed filing. Detailed filing data is available for this year.$116$73.0$42.8$30.1$27.4$2.75
2015Summary only. Only limited summary data is available for this year.$116$75.8$40.3$28.5$26.6$1.95
2014Detailed filing. Detailed filing data is available for this year.$116$78.1$38.3$28.9$26.9$2.06
2013Detailed filing. Detailed filing data is available for this year.$117$81.1$36.0$27.7$26.1$1.55
2012Summary only. Only limited summary data is available for this year.$114$80.1$34.3$26.5$24.4$2.07
2011Summary only. Only limited summary data is available for this year.$114$81.9$32.1$25.7$23.1$2.59