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Nonprofiteer
← COMMUNITY ELECTRIC COOPERATIVE

Form 990 for tax year 2025

Filed by COMMUNITY ELECTRIC COOPERATIVE.

Totals

Total revenue
$33,284,132
Total expenses
$31,821,929
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$29,400,108
Investment income
$28,608
Other revenue
$3,855,416
Total assets, end of year
$62,976,238
Total liabilities, end of year
$30,779,919
Net assets or fund balances, end of year
$32,196,319
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: SALE OF ELECTRICITY

    total $28,902,890 · related or exempt $28,902,890

  • 2b · Program service revenue: CONT IN AID CONSTRUCT

    total $427,316 · related or exempt $427,316

  • 2c · Program service revenue: CASH PATRONAGE RECEIVED

    total $69,902 · related or exempt $69,902

  • 3 · Investment income

    total $28,608 · excluded $28,608

  • 6a · Gross rents

    personal property $163,038

  • 6c · Rental income or loss

    personal property $163,038

  • 6d · Net rental income or loss

    total $163,038 · excluded $163,038

  • 11a · Other revenue: ADMIN. SERVICES

    total $2,466,540 · unrelated business $2,466,540

  • 11b · Other revenue: INCOME FROM EQUITY INV.

    total $1,216,922 · related or exempt $1,216,922

  • 11c · Other revenue: LIGHTING MAINT. CONTRACT

    total $8,089 · related or exempt $8,089

  • 11d · All other revenue

    total $827 · unrelated business $827

  • 11e · Other revenue, total

    $3,692,378

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $125,227

  • 5 · Compensation of officers, directors and key employees

    total $1,338,310

  • 7 · Other salaries and wages

    total $3,452,630

  • 8 · Pension plan contributions

    total $571,093

  • 10 · Payroll taxes

    total $350,617

  • 11b · Fees: legal

    total $102,662

  • 17 · Travel

    total $612,457

  • 19 · Conferences, conventions and meetings

    total $60,551

  • 20 · Interest

    total $1,030,238

  • 22 · Depreciation, depletion and amortization

    total $2,405,356

  • 24a · Other expenses: COST OF POWER

    total $19,929,629

  • 24b · Other expenses: DIST. OPERATION

    total $1,242,123

  • 24c · Other expenses: DIST. MAINTENANCE

    total $1,150,939

  • 24d · Other expenses: GENERAL AND ADMIN.

    total $718,049

  • 24e · All other expenses

    total -$1,267,952

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $376,005 · end of year $439,312

  • 2 · Savings and temporary cash investments

    beginning of year $363,064 · end of year $597,612

  • 4 · Accounts receivable

    beginning of year $4,225,504 · end of year $4,691,717

  • 8 · Inventories for sale or use

    beginning of year $3,113,615 · end of year $3,303,662

  • 9 · Prepaid expenses and deferred charges

    beginning of year $991,787 · end of year $803,563

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

    $69,579,931

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

    $35,120,302

  • 10c · Land, buildings and equipment, net

    beginning of year $34,452,135 · end of year $34,459,629

  • 12 · Investments: other securities

    beginning of year $3,695,404 · end of year $4,562,327

  • 13 · Investments: program-related

    beginning of year $12,494,748 · end of year $13,196,262

  • 15 · Other assets

    beginning of year $745,864 · end of year $922,154

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,240,948 · end of year $3,760,549

  • 23 · Secured mortgages and notes payable

    beginning of year $24,000,333 · end of year $23,995,954

  • 25 · Other liabilities

    beginning of year $2,732,283 · end of year $3,023,416

  • 31 · Retained earnings, endowment or other funds

    beginning of year $30,484,562 · end of year $32,196,319

Mission and programs · 2025

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF COMMUNITY ELECTRIC COOPERATIVE

  • THE COOPERATIVE'S MAJOR PROGRAM SERVICE ACCOMPLISHMENT WAS THE SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 19,929,629 OTHER SALARIES AND WAGES 3,452,630 DEPRECIATION AND AMORTIZATION 2,405,356

As filed on the 2025 return.

Listed in Part VII

  • Steven A Harmon

    PRESIDENT AN

    Total calculated
    $695,421
    From this org
    $585,722
    From related orgs
    $0
    Other
    $109,699
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $548,524
    Bonus
    $1,024
    Other
    $36,174
    Deferred
    $84,098
    Nontaxable benefits
    $25,601
    Filer's total
    $695,421

  • Herman G Presson

    MGR OF OPERA

    Total calculated
    $274,734
    From this org
    $146,218
    From related orgs
    $0
    Other
    $128,516
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $152,889
    Bonus
    $1,083
    Other
    -$7,754
    Deferred
    $105,196
    Nontaxable benefits
    $23,320
    Filer's total
    $274,734

  • Jonathan D Thompson

    COO

    Total calculated
    $248,794
    From this org
    $184,203
    From related orgs
    $0
    Other
    $64,591
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,751
    Bonus
    $1,015
    Other
    -$6,563
    Deferred
    $41,468
    Nontaxable benefits
    $23,123
    Filer's total
    $248,794

  • Daryl Walls

    VP OF BUS DE

    Total calculated
    $216,317
    From this org
    $160,158
    From related orgs
    $0
    Other
    $56,159
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $171,346
    Bonus
    $1,083
    Other
    -$12,271
    Deferred
    $33,341
    Nontaxable benefits
    $22,818
    Filer's total
    $216,317

  • Danny T Beale

    LINEMAN

    Total calculated
    $202,713
    From this org
    $145,101
    From related orgs
    $0
    Other
    $57,612
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,726
    Bonus
    $1,083
    Other
    -$2,708
    Deferred
    $47,582
    Nontaxable benefits
    $10,030
    Filer's total
    $202,713

  • Danielle Beale

    MGR OF ACCOU

    Total calculated
    $166,697
    From this org
    $141,622
    From related orgs
    $0
    Other
    $25,075
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,178
    Bonus
    $1,083
    Other
    -$639
    Deferred
    $23,086
    Nontaxable benefits
    $1,989
    Filer's total
    $166,697

  • Austin Williams

    LINEMAN

    Total calculated
    $139,689
    From this org
    $124,772
    From related orgs
    $0
    Other
    $14,917
    Hours/week
    48

  • Ryan Hewitt

    LINEMAN

    Total calculated
    $137,052
    From this org
    $127,480
    From related orgs
    $0
    Other
    $9,572
    Hours/week
    47

  • Jeannette S Everett

    CHAIRMAN

    Total calculated
    $29,153
    From this org
    $27,453
    From related orgs
    $1,700
    Other
    $0
    Hours/week
    3.64

  • John W Stewart

    ASST. SEC-TR

    Total calculated
    $22,103
    From this org
    $20,403
    From related orgs
    $1,700
    Other
    $0
    Hours/week
    3

  • Michael A Faulk

    VICE-CHAIRMA

    Total calculated
    $21,403
    From this org
    $19,703
    From related orgs
    $1,700
    Other
    $0
    Hours/week
    1.28

  • Diana F Beale

    SEC-TREAS

    Total calculated
    $19,153
    From this org
    $17,453
    From related orgs
    $1,700
    Other
    $0
    Hours/week
    2.21

  • Chad N Fowler

    DIRECTOR

    Total calculated
    $18,903
    From this org
    $18,903
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.91

  • Jason B Carr

    DIRECTOR

    Total calculated
    $18,653
    From this org
    $18,653
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.54

  • R Brian Jones Sr

    DIRECTOR

    Total calculated
    $18,603
    From this org
    $18,603
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.33

  • Douglas A Chesson

    DIRECTOR

    Total calculated
    $18,403
    From this org
    $18,403
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.56

  • Kara D Hearn

    DIRECTOR

    Total calculated
    $18,203
    From this org
    $18,203
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

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 · Compensation survey or study
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
STEVEN A. HARMON 0 70,098 0
SCHEDULE J, PART III
COMMUNITY ELECTRIC COOPERATIVE IS A PARTICIPATING EMPLOYER IN THE RETIREMENT SECURITY PLAN SPONSORED BY THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCATION (NRECA). STEVEN HARMON DOES NOT PARTICIPATE IN THE PLAN, BUT INSTEAD PARTCIPATES IN A 457(F) DEFERRED COMPENSATION PLAN. AFTER 10 YEARS OF SERVICE THE AMOUNT IN THE PLAN VESTED AND WAS PAID OUT TO STEVEN HARMON IN THE TAX YEAR 2025. THIS BENEFIT HAS BEEN ACCRUED AND EXPENSED ACCORDINGLY OVER THE LIFE OF THE PLAN. NO ADDITIONAL EXPENSE WAS RECORDED BY COMMUNITY ELECTRIC AS A RESULT OF THE PAYMENT.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FRANKLIN REC SOLAR LLC

    UNRELATED · SOLAR FARM · IA · share of income -$34,953

    Directly controlled by RECORE LLC

  • SOLAR VISION LLC

    UNRELATED · SOLAR FARM · WI · share of income -$25,596

    Directly controlled by RECORE LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RECORE LLC

    GEN LEASES · VA · controlled entity

Provenance

Return type
form_990
Tax year
2025
Filed
15 September 2026
IRS schema version
2025v4.0
Source object
202622679349301607

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