Nonprofit · EIN 88-0086059
WELLS RURAL ELECTRIC CO
Tax-exempt · WELLS, NV 89835
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $44,088,529 | $40,858,420 | $3,230,109 | $74,823,928 | $34,077,227 | $40,746,701 |
| December 31, 2023 | 990 | $50,220,902 | $43,638,774 | $6,582,128 | $74,702,858 | $37,585,969 | $37,116,889 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $40,833,653
- Investment income
- $635,842
- Other revenue
- $2,619,034
Expenses
- Grants and similar amounts paid
- $42,681
- Benefits paid to members
- $1,194,001
- Compensation of officers, directors and key employees
- $1,944,894
- Other salaries and wages
- $2,611,558
- Salaries, compensation and benefits (total)
- $6,346,431
- Professional fundraising fees
- $0
- Depreciation
- $3,684,074
Balance sheet and other
- Total assets, start of year
- $74,702,858
- Total assets, end of year
- $74,823,928
- Total liabilities, end of year
- $34,077,227
- Net assets, end of year
- $40,746,701
- Land, buildings and equipment
- $49,067,027
- Gross unrelated business income
- $432
- Gross receipts
- $44,088,529
- Employees
- 61
- Volunteers
- 0
- Year formed
- 1958
- State of legal domicile
- NV
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CLAY R FITCH | EMERITUS CEO Officer | 40 | $257,318 | $111,189 |
| THAD BALLARD | CEO Officer | 40 | $212,214 | $140,799 |
| RYAN BRODSHO | DIRECTOR OF PLANNING Officer | 40 | $167,545 | $102,005 |
| CYNTHIA GOOD | DIRECTOR OF ACCT, FINANCE,HR Officer | 40 | $155,267 | $100,958 |
| ZANE PETERS | TROUBLEMAN Highest-paid employee | 46 | $176,363 | $70,695 |
| JEFFERY CROMIE | DIRECTOR OF STRATEGY/BUS. DEV Officer | 40 | $168,986 | $77,688 |
| KYLE MURPHY | FOREMAN Highest-paid employee | 48 | $183,997 | $62,184 |
| TODD BRETHAUER | SUBSTATION FOREMAN Highest-paid employee | 43 | $158,877 | $80,786 |
| JACOB MANNING | FOREMAN Highest-paid employee | 44 | $157,131 | $69,729 |
| JAMES WINES | FOREMAN Highest-paid employee | 45 | $165,158 | $57,680 |
| MIKE GIROLAMO | DIRECTOR OF OPERATIONS Officer | 40 | $140,639 | $38,774 |
| SCOTT EGBERT | PRESIDENT Trustee or director, Officer | 4.9 | $46,192 | $0 |
| GERALD ANDERSON | DIRECTOR Trustee or director | 7.7 | $44,012 | $0 |
| ROBERT WILCOX | DIRECTOR Trustee or director | 8.6 | $25,908 | $0 |
| M JONATHAN DAHL | VICE PRESIDENT Trustee or director, Officer | 7.7 | $24,625 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| OUIDA MADISON | DIRECTOR Trustee or director | 3.4 | $22,350 |
| CAMERON HUFF | DIRECTOR Trustee or director | 10 | $21,925 |
| TONY MACIAS | DIRECTOR Trustee or director | 7.4 | $18,850 |
| BRUCE WIDMER | DIRECTOR Trustee or director | 4.5 | $17,250 |
| KIRK DAHL | DIRECTOR Trustee or director | 3 | $16,800 |
| ALFRED MONTES DE OCA | DIRECTOR Trustee or director | 2.6 | $16,800 |
| JIM WHITED | SECRETARY/TREASURER Trustee or director, Officer | 5.5 | $16,800 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CLAY R FITCH | CHIEF EXECUTIVE OFFICER Officer | 40 | $316,187 | $107,205 |
| THAD BALLARD | DIRECTOR OF ADMIN & POWER SUPPLY Officer | 40 | $140,809 | $134,692 |
| JEFFERY R CROMIE | DIRECTOR OF STRATEGY & DEVELOPMENT Officer | 40 | $161,671 | $86,943 |
| RYAN BRODSHO | DIRECTOR OF PLANNING Officer | 40 | $162,375 | $81,859 |
| ZANE PETERS | TROUBLEMAN Highest-paid employee | 47 | $165,471 | $57,537 |
| JACOB MANNING | FOREMAN Highest-paid employee | 44 | $149,586 | $65,954 |
| CYNTHIA GOOD | DIRECTOR OF ACCT, FINANCE, & HR Officer | 40 | $126,747 | $83,200 |
| KYLE MURPHY | FOREMAN Highest-paid employee | 42 | $146,582 | $58,600 |
| JAMES WINES | FOREMAN Highest-paid employee | 45 | $157,137 | $46,465 |
| COLTON RASMUSSEN | LINEMAN Highest-paid employee | 45 | $148,624 | $32,167 |
| MIKE GIROLAMO | DIRECTOR OF OPERATIONS Officer | 40 | $129,724 | $34,014 |
| SCOTT EGBERT | PRESIDENT Trustee or director, Officer | 4 | $48,515 | $0 |
| GERALD ANDERSON | DIRECTOR Trustee or director | 7 | $45,269 | $0 |
| LOIS NANNINI | DIRECTOR (JAN-AUG) Trustee or director | 4 | $30,883 | $0 |
| M JONATHAN DAHL | VICE PRESIDENT Trustee or director, Officer | 7 | $25,950 | $0 |
| ROBERT WILCOX | DIRECTOR Trustee or director | 7 | $24,052 | $0 |
| OUIDA MADISON | DIRECTOR Trustee or director | 3 | $22,050 | $0 |
| BRUCE WIDMER | DIRECTOR Trustee or director | 4 | $19,175 | $0 |
| TONY MACIAS | DIRECTOR Trustee or director | 6 | $17,750 | $0 |
| ALFRED MONTES DE OCA | DIRECTOR Trustee or director | 4 | $17,550 | $0 |
| KIRK DAHL | DIRECTOR Trustee or director | 2 | $17,050 | $0 |
| JIM WHITED | SECRETARY/TREASURER Trustee or director, Officer | 4 | $15,425 | $0 |
| CAMERON HUFF | DIRECTOR (SEP-DEC) Trustee or director | 4 | $2,800 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 365, WELLS, NV 89835-0365
- In care of
- % LONNIE ABBOTT
- Principal officer (990 for 2024)
- THAD BALLARD, PO BOX 365, WELLS, NV 89835
- Signed the 990
- THAD BALLARD, CEO
- Phone
- (775) 752-3328
- Website
- WWW.WREC.COOP
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
WELLS RURAL ELECTRIC COMPANY IMPROVES THE QUALITY OF LIFE OF THE COMMUNITIES WE SERVE BY MEETING THE CHANGING NEEDS OF OUR MEMBERS THROUGH THE GUIDING PRINCIPLES OF OUR LOCALLY CONTROLLED COOPERATIVE.
Program accomplishments
- PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 6,335 ACTIVE SERVICES AT YEAR END.
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-0086059
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1966
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $74,823,928
- Income (IRS master file)
- $44,088,529
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $44,088,529 | $40,858,420 | $74,823,928 | IRS |
| 990 | December 2023 | $50,220,902 | $43,638,774 | $74,702,858 | XML |
| 990 | December 2022 | $45,338,751 | $45,284,881 | $65,706,155 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
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 88-0086059).
Questions about WELLS RURAL ELECTRIC CO
- What is the EIN of WELLS RURAL ELECTRIC CO?
- The employer identification number (EIN) of WELLS RURAL ELECTRIC CO is 88-0086059.
- Is WELLS RURAL ELECTRIC CO tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1966.
- Are donations to WELLS RURAL ELECTRIC CO tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does WELLS RURAL ELECTRIC CO 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 WELLS RURAL ELECTRIC CO due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WELLS RURAL ELECTRIC CO last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WELLS RURAL ELECTRIC CO?
- The 990 for the year ended December 31, 2024 names THAD BALLARD.
- Who are the officers and directors of WELLS RURAL ELECTRIC CO?
- The 990 for the year ended December 31, 2024 lists 22 people; 22 received compensation from the organization, the highest $257,318 (CLAY R FITCH, EMERITUS CEO).
- How much revenue does WELLS RURAL ELECTRIC CO have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $44,088,529, expenses of $40,858,420 and total assets of $74,823,928 at year end.
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