Civic Intelligence

Lost River Electric Cooperative Inc

990 • Fiscal year 2020 • EIN 82-0139694

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 30, 2021

Organization Profilewww.lostriverelectriccoopinc.com
PO Box 420Mackay, ID 83251

(208) 588-3311

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.21x

Higher debt load relative to assets than 33% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

18th percentile

0.31x

Higher debt load relative to revenue than 18% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Net Margin

58th percentile

10%

Higher net margin than 58% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

79th percentile

$161,836

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Asset Growth

5th percentile

-3.4%

Faster asset growth than 5% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

72nd percentile

11%

Faster revenue growth than 72% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$10,398,992

Down $360,647 (-3.4%) from 2019

Net Assets

Up

$8,225,885

Up $225,893 (+2.8%) from 2019

Liabilities

Down

$2,173,107

Down $586,540 (-21%) from 2019

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin58th percentile

Revenue

Up

$7,010,717

Up $704,431 (+11%) from 2019

Expenses

Up

$6,296,419

Up $626,911 (+11%) from 2019

Net Income

Up

$714,298

Up $77,520 (+12%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$15M$10M$5.0M$0Assets 2011: $9,334,958Liabilities 2011: $2,335,238Net Assets 2011: $6,999,7202011Assets 2012: $9,403,265Liabilities 2012: $2,428,722Net Assets 2012: $6,974,5432012Assets 2013: $9,930,908Liabilities 2013: $2,531,565Net Assets 2013: $7,399,3432013Assets 2014: $10,208,954Liabilities 2014: $2,627,430Net Assets 2014: $7,581,5242014Assets 2015: $10,226,344Liabilities 2015: $2,746,344Net Assets 2015: $7,480,0002015Assets 2016: $10,179,620Liabilities 2016: $3,012,294Net Assets 2016: $7,167,3262016Assets 2017: $10,613,067Liabilities 2017: $3,024,368Net Assets 2017: $7,588,6992017Assets 2018: $10,696,212Liabilities 2018: $2,731,813Net Assets 2018: $7,964,3992018Assets 2019: $10,759,639Liabilities 2019: $2,759,647Net Assets 2019: $7,999,9922019Assets 2020: $10,398,992Liabilities 2020: $2,173,107Net Assets 2020: $8,225,8852020Assets 2021: $11,076,384Liabilities 2021: $2,097,962Net Assets 2021: $8,978,4222021Assets 2022: $11,694,914Liabilities 2022: $2,086,733Net Assets 2022: $9,608,1812022Assets 2023: $12,259,794Liabilities 2023: $2,047,749Net Assets 2023: $10,212,0452023Assets 2024: $12,685,347Liabilities 2024: $1,758,370Net Assets 2024: $10,926,9772024

Highlighted filing

2020

Assets$10,398,992
Liabilities$2,173,107
Net Assets$8,225,885
Open 2020 Filing

Operations Trend

Revenue Growth72nd percentile

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

$10M$5.0M$0-$5.0MRevenue 2011: $5,235,224Expenses 2011: $4,491,275Net Income 2011: $743,9492011Revenue 2012: $5,594,057Expenses 2012: $4,699,603Net Income 2012: $894,4542012Revenue 2013: $6,385,294Expenses 2013: $5,162,115Net Income 2013: $1,223,1792013Revenue 2014: $5,793,024Expenses 2014: $5,006,675Net Income 2014: $786,3492014Revenue 2015: $5,612,917Expenses 2015: $5,348,869Net Income 2015: $264,0482015Revenue 2016: $5,653,686Expenses 2016: $5,801,834Net Income 2016: -$148,1482016Revenue 2017: $5,737,427Expenses 2017: $5,480,853Net Income 2017: $256,5742017Revenue 2018: $6,131,795Expenses 2018: $5,570,032Net Income 2018: $561,7632018Revenue 2019: $6,306,286Expenses 2019: $5,669,508Net Income 2019: $636,7782019Revenue 2020: $7,010,717Expenses 2020: $6,296,419Net Income 2020: $714,2982020Revenue 2021: $7,381,964Expenses 2021: $6,168,270Net Income 2021: $1,213,6942021Revenue 2022: $7,197,518Expenses 2022: $6,119,795Net Income 2022: $1,077,7232022Revenue 2023: $6,686,471Expenses 2023: $5,603,221Net Income 2023: $1,083,2502023Revenue 2024: $7,911,766Expenses 2024: $6,687,267Net Income 2024: $1,224,4992024

Highlighted filing

2020

Revenue$7,010,717
Expenses$6,296,419
Net Income$714,298
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 30, 2021
Return Version
2020v4.0
Gross Receipts
$7,010,717
Mission and Program Overview

Mission

Distribute power to the lost river valley.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,819,985$8,469,601▲ $649,616
Rtn Earn Endowment Incm Other Fnds$7,999,992$8,225,885▲ $225,893
Inventories for Sale or Use$426,847$512,511▲ $85,664
Savings and Temporary Cash Investments$951,926$451,237▼ $500,689
Accounts Receivable$284,291$408,879▲ $124,588
Cash and Non-Interest-Bearing Accounts$877,034$160,132▼ $716,902
Prepaid Expenses and Deferred Charges$59,057$58,722▼ $335
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$10,759,639$10,398,992▼ $360,647
Other Assets Total$340,499$337,910▼ $2,589
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,470,163$1,273,055▼ $197,108
Accounts Payable and Accrued Expenses$1,289,481$900,052▼ $389,429
Other Liabilities$3--
Total Liabilities$2,759,647$2,173,107▼ $586,540
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,999,992$8,225,885▲ $225,893
Total Liabilities and Net Assets / Fund Balance$10,759,639$10,398,992▼ $360,647

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,469,601$10,320,869-
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brad GamettGeneral ManagerFT$118,998$42,838$161,836
Donald E BetzerOperations ManagerFT$112,389$42,211$154,600
Randy R PurserPresidentPT$13,944-$13,944
Bret L ZollingerSecretary/TreasPT$12,744-$12,744
Chad H AngellDirectorPT$12,744-$12,744
James D MckelveyDirectorPT$12,744-$12,744
Lynn O RothwellDirectorPT$12,744-$12,744
Maddie Mocettini-hansenDirectorPT$12,744-$12,744
Merlin a WaddoupsDirectorPT$12,744-$12,744
Susan M HarrisVice PresidentPT$12,644-$12,644
Dean MylerDirectorPT$11,900-$11,900
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,981,768
Investment Income
$28,949
Other Revenue
$0
Change in Net Assets
$714,298
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,865,031
Salaries, Compensation, and Employee Benefits$431,388
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$556,925--$556,925
Current Officers, Directors, Trustees, and Key Employees$431,388--$431,388
Depreciation Depletion$427,645--$427,645
Other Expenses$368,373--$368,373
Total Functional Expenses$6,296,419$0$0$6,296,419
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
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Company is a cooperative - members are owners.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Each member has one vote. Members elect board.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“By-law changes must be approved by members.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Copies for each director at board meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Reviewed by general manager/board.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Ceo compensation compared to other utilities and approved by board.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Upon request/member portal on website.”

Filing and Contact Details

Filer

Filer Name
Lost River Electric Cooperative Inc
EIN
82-0139694
Phone
2085883311
Address
PO BOX 420, MACKAY, ID 83251

Signing Officer

Name
Brad J Gamett
Title
General Manager
Signed
2021-08-30
Discuss with paid preparer
Yes

Organization Details

Formed
1939
Legal Domicile
Id
Voting Board Members
9
Independent Board Members
9
Employees
22

Preparer

Firm
Arritt Robins Waters Cpas Pllc
Address
1734 OVERLAND AVE, BURLEY, ID 83318
Preparer
Joel T Robins CPA
Phone
2086789014
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Capital credit refunds = -$488565”

Other Changes In Net Assets Or Fund Balances - Other Increases

“MEMBERSHIPS - NET = $160”

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IRS990ScheduleJ/WrittenEmploymentContractInd0X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COMPANY IS A COOPERATIVE - MEMBERS ARE OWNERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH MEMBER HAS ONE VOTE. MEMBERS ELECT BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BY-LAW CHANGES MUST BE APPROVED BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES FOR EACH DIRECTOR AT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEWED BY GENERAL MANAGER/BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CEO COMPENSATION COMPARED TO OTHER UTILITIES AND APPROVED BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST/MEMBER PORTAL ON WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CAPITAL CREDIT REFUNDS = -$488565
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8MEMBERSHIPS - NET = $160
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Other Changes In Net Assets Or Fund Balances - Other Increases
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRAD J GAMETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOST RIVER ELECTRIC COOPERATIVE INC
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ReturnHeader/Filer/EIN0820139694

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,398,992
Liabilities
$2,173,107
Net assets
$8,225,885
Revenue
$7,010,717
Expenses
$6,296,419
Net income
$714,298
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$1.76$10.9$7.91$6.69$1.22
2023Detailed filing. Detailed filing data is available for this year.$12.3$2.05$10.2$6.69$5.60$1.08
2022Detailed filing. Detailed filing data is available for this year.$11.7$2.09$9.61$7.20$6.12$1.08
2021Detailed filing. Detailed filing data is available for this year.$11.1$2.10$8.98$7.38$6.17$1.21
2020Detailed filing. Detailed filing data is available for this year.$10.4$2.17$8.23$7.01$6.30$0.71
2019Detailed filing. Detailed filing data is available for this year.$10.8$2.76$8.00$6.31$5.67$0.64
2018Detailed filing. Detailed filing data is available for this year.$10.7$2.73$7.96$6.13$5.57$0.56
2017Detailed filing. Detailed filing data is available for this year.$10.6$3.02$7.59$5.74$5.48$0.26
2016Detailed filing. Detailed filing data is available for this year.$10.2$3.01$7.17$5.65$5.80$0.15
2015Detailed filing. Detailed filing data is available for this year.$10.2$2.75$7.48$5.61$5.35$0.26
2014Detailed filing. Detailed filing data is available for this year.$10.2$2.63$7.58$5.79$5.01$0.79
2013Summary only. Only limited summary data is available for this year.$9.93$2.53$7.40$6.39$5.16$1.22
2012Summary only. Only limited summary data is available for this year.$9.40$2.43$6.97$5.59$4.70$0.89
2011Summary only. Only limited summary data is available for this year.$9.33$2.34$7.00$5.24$4.49$0.74