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Nonprofit · EIN 33-4656669

BESS RURAL ENERGY COOPERATIVE LCA

Tax-exempt · WASHINGTON, DC 20036

Financials

$43.5M$36M2025
Revenue Expenses · by fiscal year end
Financials of BESS RURAL ENERGY COOPERATIVE LCA by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$43,546,000$36,017,112$7,528,888$351,598,260$244,170,436$107,427,824
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$43,546,000
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$10,000
Other salaries and wages
$21,800
Salaries, compensation and benefits (total)
$31,800
Professional fundraising fees
$0
Legal fees
$378,671
Depreciation
$106,300

Balance sheet and other

Total assets, start of year
$0
Total assets, end of year
$351,598,260
Total liabilities, end of year
$244,170,436
Net assets, end of year
$107,427,824
Land, buildings and equipment
$216,933,700
Net assets without donor restrictions
$107,427,824
Gross receipts
$43,546,000
Employees
0
Volunteers
4
Year formed
2025
State of legal domicile
DC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
NICHOLAS WISECEO & CHAIRMAN
Trustee or director, Officer
40$10,000
MARC WACHTERMEMBER/DIRECTOR
Trustee or director
2$0
STEVE POLYAKOVMEMBER/DIRECTOR
Trustee or director
2$0

Address and contacts

Address (IRS master file)
1717 N ST NW STE 1, WASHINGTON, DC 20036-2827
Principal officer (990 for 2025)
NICHOLAS WISE, 1717 N STREET NW STE 1, WASHINGTON, DC 20036
Signed the 990
NICHOLAS WISE, CHAIRMAN AND CEO
Phone
(202) 251-3456
Return prepared by
COHNREZNICK ADVISORY LLC

Mission

THE BESS RURAL ENERGY COOPERATIVE ELECTRIFIES RURAL AREAS TO CREATES ECONOMIC VIABILITY BY PROVIDING AFFORDABLE ENERGY SOLUTIONS THROUGH CURRENT TECHNOLOGICAL ADVANCES ENABLING CLEANER EFFICIENT. THROUGH PATRONAGE PURCHASING AND MEMBER PARTICIPATION, WE LOWER COSTS WHILST BUILDING COMMERCIAL ACTIVITY. MEMBERS ENGAGE WITH THE COOPERATIVE AS BOTH USERS AND VENDORS, CREATING MUTUAL BENEFIT.

990 for the year ended December 31, 2025

Program accomplishments

  • HE COOPERATIVE ACQUIRED AND DEPLOYED 104 UTILITY-SCALE BATTERY ENERGY STORAGE SYSTEM UNITS (SUNGROW ST2236UX-US, ST3727KWH, AND SC4000UD-MV-US) AT OPERATIONAL SITES IN THE PERMIAN BASIN, LOVING COUNTY, TEXAS, FOR THE PURPOSE OF PROVIDING RELIABLE, DISPATCHABLE ELECTRICAL POWER TO OILFIELD COMPRESSION AND PRODUCTION FACILITIES OPERATED BY ITS MEMBERS. THE FLEET WAS PLACED IN SERVICE IN OCTOBER 2025. THE COOPERATIVE CONTRIBUTED THE FLEET TO ITS WHOLLY-OWNED SUBSIDIARY, DBD EXPRESS I, LLC, A TEXAS LIMITED LIABILITY COMPANY AND DISREGARDED ENTITY FOR FEDERAL INCOME TAX PURPOSES, TO FACILITATE PROJECT FINANCING AND OPERATIONS UNDER THE SUNWEST BANK CONSTRUCTION LOAN. THE DEPLOYMENT ADVANCES THE COOPERATIVE'S EXEMPT PURPOSE OF FURNISHING ELECTRIC ENERGY TO ITS MEMBERS AND RURAL COMMUNITIES UNDER IRC 501(C)(12). THE BESS FLEET WAS ORIGINALLY ACQUIRED FROM GRIDCORE INFRASTRUCTURE LLC PURSUANT TO A PURCHASE AND SALE AGREEMENT DATED SEPTEMBER 10, 2025, AT AN AGGREGATE PURCHASE PRICE OF $216,600,000, FUNDED BY THE $193,420,000 SENIOR SECURED LOAN, A $12,580,000 DEFERRED PURCHASE ADJUSTMENT, AND A $10,600,000 CASH DOWN PAYMENT DIRECTED BY GRIDCORE TO ITS EPC AND SOFTWARE PROVIDER, KYMA, AND FUNDED BY DBD FROM SUNWEST BANK LOAN PROCEEDS. AN INDEPENDENT THIRD-PARTY APPRAISAL COMMISSIONED BY SUNWEST BANK CONCLUDED A FAIR MARKET VALUE OF $92,000,000 FOR THE HARDWARE COMPONENT OF THE ACQUIRED ASSETS AS OF SEPTEMBER 9, 2025, UTILIZING A REPRODUCTION COST NEW APPROACH.
  • THE COOPERATIVE QUALIFIED 101 RETAINED BESS UNITS FOR THE SECTION 48E INVESTMENT TAX CREDIT UNDER THE INFLATION REDUCTION ACT OF 2022 (P.L. 117-169). THE PROJECT QUALIFIES FOR THE PREVAILING WAGE AND APPRENTICESHIP MULTIPLIER, INCREASING THE BASE ITC RATE FROM 6% TO 30%, AND FOR THE 10% ENERGY COMMUNITY BONUS CREDIT UNDER IRC 45(B)(11), RELYING ON THE STATUTORY BROWNFIELD SITE DESIGNATION EXCEPTION AND THE PROJECT'S LOCATION WITHIN A DESIGNATED DEVELOPMENT ZONE IN THE PERMIAN BASIN. THE AGGREGATE ITC RATE IS 40% OF ELIGIBLE BASIS. THE EPC CONTRACTOR, MICROGRID DEVELOPMENT LLC, SUBSTANTIALLY FULFILLED THE PREVAILING WAGE AND REGISTERED APPRENTICESHIP REQUIREMENTS APPLICABLE UNDER IRC 3468 WITH THE GOOD-FAITH EFFORT EXCEPTION CONFIRMED. THE COOPERATIVE OBTAINED THE REQUISITE IRS PRE-FILING REGISTRATION NUMBER ON MARCH 18, 2026 AND WILL FILE THE APPLICABLE TAX RETURNS FOR DIRECT PAY DISBURSEMENT UNDER IRC 6417 BY MAY 15, 2026 DEADLINE. UNDER THE ITC PROCEEDS WATERFALL ESTABLISHED BY SECTION 2.5(B) AND SECTION 2.6(C) OF THE SENIOR SECURED LOAN AGREEMENT, ALL DIRECT-PAY ITC PROCEEDS RECEIVED BY THE COOPERATIVE MUST BE APPLIED FIRST IN FULL TO THE REPAYMENT OF THE SUNWEST LOAN OBLIGATIONS. ONLY AFTER THE SUNWEST OBLIGATIONS ARE FULLY SATISFIED MAY ANY REMAINING ITC PROCEEDS BE APPLIED TO THE COOPERATIVE'S SENIOR SECURED LOAN OBLIGATION TO GRIDCORE. THIS PROGRAM ENABLES THE COOPERATIVE TO MONETIZE FEDERAL CLEAN ENERGY INCENTIVES FOR THE DIRECT BENEFIT OF ITS MEMBERS AND TO REDUCE THE AGGREGATE COST OF ENERGY INFRASTRUCTURE DEPLOYMENT IN UNDERSERVED RURAL ENERGY MARKETS.
  • THE COOPERATIVE, THROUGH ITS WHOLLY-OWNED SUBSIDIARY DBD EXPRESS I, LLC, EXECUTED A PURCHASE, SALE AND EPC AGREEMENT DATED NOVEMBER 30, 2025 (THE "HPS PSA") WITH HOMELAND POWER SOLUTIONS, LP ("HPS") (FORMERLY HOMELAND DIGITAL REIT, LP), A DELAWARE LIMITED PARTNERSHIP, FOR THE SALE OF A DESIGNATED PORTION OF THE BESS FLEET AND ASSOCIATED EPC SERVICES AT AN AGGREGATE CONTRACT PRICE OF $43,546,000. THE ASSETS SOLD COMPRISED: (I) THREE BESS UNITS NOT YET PLACED IN SERVICE; (II) THE POWIN BATTERY PURCHASE PACKAGE COMPRISING APPROXIMATELY 18 MW OF RATED POWER CAPACITY; AND (III) INVERTERS AND OTHER AUXILIARY EQUIPMENT COMPONENTS. AGGREGATE CONSIDERATION WAS STRUCTURED AS FOLLOWS: (I) A CLOSING PAYMENT NOTE OF $41,371,000, BEARING INTEREST AT AFR PLUS 6.00% PER ANNUM WITH A 10-YEAR CONTRACTUAL TERM AND A STRICT NO-ACCELERATION PROVISION; (II) AN HPS SHORT-TERM NOTE RECEIVABLE OF $1,675,000, BEARING INTEREST AT SOFR PLUS 1.50% PER ANNUM, DUE MARCH 30, 2026 (SUBSEQUENTLY PAID IN FULL ON MARCH 30, 2026); (III) $425,000 CASH FROM WACHTER HOLDINGS, LLC; AND (IV) $75,000 CASH FROM DJD CAPITAL. THE COMPANY HOLDS A PERFECTED FIRST-PRIORITY SECURITY INTEREST IN THE TRANSFERRED EQUIPMENT UNDER APPLICABLE PROVISIONS OF THE TEXAS UCC. COST OF GOODS SOLD OF $25,500,000 REPRESENTS THE AGGREGATE FACE AMOUNT OF A $3,500,000 SHORT-TERM PROMISSORY NOTE AND A $22,000,000 LONG-TERM REVENUE NOTE ISSUED TO GRIDCORE INFRASTRUCTURE LLC AS OBLIGATIONS INCURRED TO EFFECTUATE THE SALE, YIELDING GROSS PROCEEDS OF $18,046,000 (41.4% GROSS MARGIN). THIS PROGRAM SERVICE SUPPORTS THE COOPERATIVE'S MISSION OF DEPLOYING ENERGY STORAGE INFRASTRUCTURE TO SERVE ITS MEMBERS AND AFFILIATED ENERGY PARTNERSHIPS IN THE PERMIAN BASIN AND UTICA SHALE REGIONS.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025Check at the IRS
2023December 31, 2023May 15, 2024Check at the IRS

IRS record

EIN
33-4656669
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
2025
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Environment (C35)
Assets (IRS master file)
$351,598,260
Income (IRS master file)
$43,546,000

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$43,546,000$36,017,112$351,598,260IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 33-4656669).

Questions about BESS RURAL ENERGY COOPERATIVE LCA

What is the EIN of BESS RURAL ENERGY COOPERATIVE LCA?
The employer identification number (EIN) of BESS RURAL ENERGY COOPERATIVE LCA is 33-4656669.
Is BESS RURAL ENERGY COOPERATIVE LCA tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 2025.
Are donations to BESS RURAL ENERGY COOPERATIVE LCA tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does BESS RURAL ENERGY COOPERATIVE LCA file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of BESS RURAL ENERGY COOPERATIVE LCA due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BESS RURAL ENERGY COOPERATIVE LCA last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of BESS RURAL ENERGY COOPERATIVE LCA?
The 990 for the year ended December 31, 2025 names NICHOLAS WISE.
Who are the officers and directors of BESS RURAL ENERGY COOPERATIVE LCA?
The 990 for the year ended December 31, 2025 lists 3 people; 1 received compensation from the organization, the highest $10,000 (NICHOLAS WISE, CEO & CHAIRMAN).
How much revenue does BESS RURAL ENERGY COOPERATIVE LCA have?
On its 990 for the year ended December 31, 2025 it reported revenue of $43,546,000, expenses of $36,017,112 and total assets of $351,598,260 at year end.

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