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Nonprofiteer
← GEORGIA ENERGY COOPERATIVE AN ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by GEORGIA ENERGY COOPERATIVE AN ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$212,173,835
Total expenses
$212,173,835
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$211,998,452
Investment income
$175,383
Other revenue
$0
Total assets, end of year
$83,974,812
Total liabilities, end of year
$56,510,001
Net assets or fund balances, end of year
$27,464,811
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$212,173,835

Program services were 0.0% 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 REVENUE

    total $211,998,452 · related or exempt $211,998,452

  • 3 · Investment income

    total $175,383 · excluded $175,383

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total -$54,543

  • 5 · Compensation of officers, directors and key employees

    total $523,416

  • 7 · Other salaries and wages

    total $549,092

  • 9 · Other employee benefits

    total $201,121

  • 22 · Depreciation, depletion and amortization

    total $2,129,215

  • 24a · Other expenses: POWER SUPPLY EXPENSE

    total $205,593,872

  • 24b · Other expenses: MAINTENANCE OF PLANT

    total $1,688,568

  • 24c · Other expenses: GENERAL AND ADMINISTRATIV

    total $872,618

  • 24d · Other expenses: OUTSIDE SERVICES EMPLOYED

    total $276,386

  • 24e · All other expenses

    total $394,090

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,359,553 · end of year $26,974,689

  • 4 · Accounts receivable

    beginning of year $13,506,260 · end of year $34,251,096

  • 8 · Inventories for sale or use

    beginning of year $656,101 · end of year $644,354

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,265 · end of year $33,919

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

    $58,325,146

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

    $38,126,769

  • 10c · Land, buildings and equipment, net

    beginning of year $20,820,399 · end of year $20,198,377

  • 15 · Other assets

    beginning of year $1,659,839 · end of year $1,872,377

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,711,493 · end of year $34,337,952

  • 23 · Secured mortgages and notes payable

    end of year $16,000,000

  • 25 · Other liabilities

    beginning of year $5,809,570 · end of year $6,172,049

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,500 · end of year $1,500

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

    beginning of year $666,000 · end of year $666,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $26,851,854 · end of year $26,797,311

Mission and programs · 2022

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRICAL ENERGY AND SERVICE TO ALL ITS MEMBERS AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

    Expenses $212,173,835

As filed on the 2022 return.

Listed in Part VII

  • Pete Nettles

    CEO

    Total calculated
    $523,416
    From this org
    $418,792
    From related orgs
    $0
    Other
    $104,624
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $334,387
    Bonus
    $72,000
    Other
    $12,405
    Deferred
    $78,812
    Nontaxable benefits
    $25,812
    Filer's total
    $523,416

  • John E Winskie III

    VP - POWER S

    Total calculated
    $389,023
    From this org
    $294,120
    From related orgs
    $0
    Other
    $94,903
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,169
    Bonus
    $10,500
    Other
    $24,451
    Deferred
    $64,145
    Nontaxable benefits
    $30,758
    Filer's total
    $389,023

  • Art Wenda

    VP - FINANCE

    Total calculated
    $291,288
    From this org
    $209,331
    From related orgs
    $0
    Other
    $81,957
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,947
    Bonus
    not reported
    Other
    $4,384
    Deferred
    $51,315
    Nontaxable benefits
    $30,642
    Filer's total
    $291,288

  • Matt Brinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Greg Brouilet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Louis Cassotta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Dillard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Romanous Dotson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bryan Ferguson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Chris Fettes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tony Griffin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stan Hillis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Holt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dustin Hulsey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John H Bennett Jr

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    3

  • Carey Locke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Long

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lavanda Lynn

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • Laura McGee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Randall Morris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Murphy

    SEC. / TREAS

    Total calculated
    $0
    Hours/week
    2

  • Ophelia McCain

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Fred McWhorter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Todd Payne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lou Ann Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kay H Reed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tim Register

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Billy Senkbeil

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lewis Sheffield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rene Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carlton Thomas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tony Tucker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOWEGA POWER LLC

    POWER GENE · GA · income $4,838,789 · assets $26,992,270

    Directly controlled by NA

  • SOWEGA POWER HOLDINGS LLC

    HOLDING CO · GA

    Directly controlled by NA

  • SOWEGA POWER 100 LLC

    POWER GENE · GA

    Directly controlled by NA

  • SOWEGA LAND LLC

    LAND · GA

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
11 July 2023
IRS schema version
2022v5.0
Source object
202321929349301302

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