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Nonprofiteer
← WOODRUFF ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2024

Filed by WOODRUFF ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$57,191,741
Total expenses
$57,191,741
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$56,212,816
Investment income
$799,961
Other revenue
$178,964
Total assets, end of year
$247,170,435
Total liabilities, end of year
$146,437,050
Net assets or fund balances, end of year
$100,733,385
Program services expenses (Part IX)
$57,191,741
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$57,191,741

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: OPERATING REVENUES

    total $52,281,655 · related or exempt $52,281,655

  • 2b · Program service revenue: G&T AND OTHER CAPITAL CREDITS

    total $3,931,161 · related or exempt $3,931,161

  • 3 · Investment income

    total $799,961 · related or exempt $799,961

  • 10a · Gross sales of inventory

    $257,321

  • 10b · Cost of goods sold

    $78,357

  • 10c · Net income from sales of inventory

    total $178,964 · related or exempt $178,964

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,727,715 · program services $5,727,715

  • 5 · Compensation of officers, directors and key employees

    total $838,978 · program services $838,978

  • 6 · Compensation of disqualified persons

    total $72,415 · program services $72,415

  • 7 · Other salaries and wages

    total $5,699,778 · program services $5,699,778

  • 11g · Fees: other

    total $33,072,575 · program services $33,072,575

  • 20 · Interest

    total $4,821,113 · program services $4,821,113

  • 22 · Depreciation, depletion and amortization

    total $6,959,167 · program services $6,959,167

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $460,209 · end of year $1,362,927

  • 2 · Savings and temporary cash investments

    beginning of year $10,563,012 · end of year $11,610,070

  • 4 · Accounts receivable

    beginning of year $4,226,551 · end of year $12,215,771

  • 8 · Inventories for sale or use

    beginning of year $2,125,029 · end of year $1,912,151

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,671,536 · end of year $1,503,219

  • 10a · Land, buildings and equipment: cost or other basis

    $245,077,700

  • 10b · Land, buildings and equipment: accumulated depreciation

    $48,437,519

  • 10c · Land, buildings and equipment, net

    beginning of year $191,117,476 · end of year $196,640,181

  • 12 · Investments: other securities

    beginning of year $20,298,969 · end of year $21,593,538

  • 15 · Other assets

    beginning of year $299,311 · end of year $332,578

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,910,407 · end of year $2,069,126

  • 23 · Secured mortgages and notes payable

    beginning of year $126,801,489 · end of year $138,555,252

  • 25 · Other liabilities

    beginning of year $5,411,142 · end of year $5,812,672

  • 29 · Capital stock, trust principal or current funds

    beginning of year $205,640 · end of year $205,005

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $86,751,310 · end of year $90,623,044

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,682,105 · end of year $9,905,336

Mission and programs · 2024

Mission

TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

  • PROVIDE ELECTRICITY - RURAL AREAS, 24,329 TOTAL SERVICES IN PLACE AT YEAR END.

    Expenses $57,191,741

As filed on the 2024 return.

Listed in Part VII

  • Michael L Swan

    PRESIDENT/CE

    Total calculated
    $426,198
    From this org
    $284,359
    From related orgs
    $0
    Other
    $141,839
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $284,359
    Bonus
    not reported
    Other
    not reported
    Deferred
    $141,839
    Nontaxable benefits
    not reported
    Filer's total
    $426,198

  • Jimmy R Cook

    VP-ENGINEERI

    Total calculated
    $250,876
    From this org
    $165,910
    From related orgs
    $0
    Other
    $84,966
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,910
    Bonus
    not reported
    Other
    not reported
    Deferred
    $84,966
    Nontaxable benefits
    not reported
    Filer's total
    $250,876

  • Rodney Kelso

    VP - OPERATI

    Total calculated
    $234,085
    From this org
    $147,715
    From related orgs
    $0
    Other
    $86,370
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $147,715
    Bonus
    not reported
    Other
    not reported
    Deferred
    $86,370
    Nontaxable benefits
    not reported
    Filer's total
    $234,085

  • Glenn M Kelley

    VP-INFORMATI

    Total calculated
    $230,537
    From this org
    $152,347
    From related orgs
    $0
    Other
    $78,190
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,347
    Bonus
    not reported
    Other
    not reported
    Deferred
    $78,190
    Nontaxable benefits
    not reported
    Filer's total
    $230,537

  • Kevin Scott

    VP - CORPORA

    Total calculated
    $199,504
    From this org
    $123,251
    From related orgs
    $0
    Other
    $76,253
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $123,251
    Bonus
    not reported
    Other
    not reported
    Deferred
    $76,253
    Nontaxable benefits
    not reported
    Filer's total
    $199,504

  • Edward Milton

    DISTRICT MAN

    Total calculated
    $199,471
    From this org
    $123,263
    From related orgs
    $0
    Other
    $76,208
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $123,263
    Bonus
    not reported
    Other
    not reported
    Deferred
    $76,208
    Nontaxable benefits
    not reported
    Filer's total
    $199,471

  • Norma Hawkins

    VP OF HUMAN

    Total calculated
    $197,199
    From this org
    $130,317
    From related orgs
    $0
    Other
    $66,882
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $130,317
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,882
    Nontaxable benefits
    not reported
    Filer's total
    $197,199

  • Jerry Brown

    DIRECTOR

    Total calculated
    $34,723
    From this org
    $34,723
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.08

  • Charles C Burrow III

    DIRECTOR

    Total calculated
    $32,212
    From this org
    $32,212
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.39

  • Ab Thompson Jr

    DIRECTOR

    Total calculated
    $30,669
    From this org
    $30,669
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $30,669
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $30,669

  • W Wayne Beadles

    DIRECTOR

    Total calculated
    $30,564
    From this org
    $30,564
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $30,564
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $30,564

  • Shelia Banks

    DIRECTOR

    Total calculated
    $26,822
    From this org
    $26,822
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.08

  • Joe Whittenton III

    DIRECTOR

    Total calculated
    $25,802
    From this org
    $25,802
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.47

  • Brent Ponder

    DIRECTOR

    Total calculated
    $16,612
    From this org
    $16,612
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.62

  • Keith Freeland

    DIRECTOR

    Total calculated
    $15,494
    From this org
    $15,494
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.18

  • Jimmy N Bickerstaff

    DIRECTOR

    Total calculated
    $11,182
    From this org
    $11,182
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $11,182
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $11,182

  • Bill Rushing

    DIRECTOR

    Total calculated
    $10,239
    From this org
    $10,239
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.93

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.0
Source object
202532979349301433

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