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Nonprofiteer
← FLEMING-MASON ENERGY COOPERATIVE INC

Form 990 for tax year 2023

Filed by FLEMING-MASON ENERGY COOPERATIVE INC.

Totals

Total revenue
$90,808,955
Total expenses
$90,808,955
Contributions and grants received
$110,050
Grants paid
$12,000
Program service revenue
$88,630,218
Investment income
$96,681
Other revenue
$1,972,006
Total assets, end of year
$151,091,747
Total liabilities, end of year
$72,219,047
Net assets or fund balances, end of year
$78,872,700
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$90,808,955

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.

  • 1e · Government grants (contributions)

    $110,050

  • 2a · Program service revenue: ELECTRIC SERVICE

    total $88,630,218 · related or exempt $88,630,218

  • 3 · Investment income

    total $50,719 · excluded $50,719

  • 7a · Gross sales of assets other than inventory

    other assets $73,150

  • 7b · Less cost or other basis and sales expenses

    other assets $27,188

  • 7c · Gain or loss

    other assets $45,962

  • 7d · Net gain or loss

    total $45,962 · related or exempt $45,962

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $1,136,936 · related or exempt $1,136,936

  • 11b · Other revenue: JOINT USE POLE ATTACHMENT

    total $514,840 · excluded $514,840

  • 11c · Other revenue: CAPITAL CREDITS ASOOC ORG

    total $320,139 · related or exempt $320,139

  • 11d · All other revenue

    total $91 · related or exempt $91

  • 11e · Other revenue, total

    $1,972,006

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $12,000

  • 4 · Benefits paid to or for members

    total $640,756

  • 5 · Compensation of officers, directors and key employees

    total $282,169

  • 7 · Other salaries and wages

    total $3,966,284

  • 8 · Pension plan contributions

    total $720,452

  • 9 · Other employee benefits

    total $739,689

  • 10 · Payroll taxes

    total $314,977

  • 11b · Fees: legal

    total $44,924

  • 11c · Fees: accounting

    total $12,950

  • 13 · Office expenses

    total $258,329

  • 20 · Interest

    total $2,117,486

  • 22 · Depreciation, depletion and amortization

    total $4,300,200

  • 23 · Insurance

    total $230,650

  • 24a · Other expenses: COST OF POWER

    total $74,100,617

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $4,326,389

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $1,834,039

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $1,720,152

  • 24e · All other expenses

    total -$4,813,108

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,118,466 · end of year $674,612

  • 4 · Accounts receivable

    beginning of year $10,176,692 · end of year $10,144,262

  • 8 · Inventories for sale or use

    beginning of year $691,063 · end of year $758,650

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,566,485 · end of year $120,012

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

    $129,341,207

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

    $50,497,427

  • 10c · Land, buildings and equipment, net

    beginning of year $76,650,327 · end of year $78,843,780

  • 13 · Investments: program-related

    beginning of year $57,942,657 · end of year $59,452,287

  • 15 · Other assets

    beginning of year $603,558 · end of year $1,098,144

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,616,208 · end of year $7,888,436

  • 23 · Secured mortgages and notes payable

    beginning of year $45,745,650 · end of year $50,180,619

  • 25 · Other liabilities

    beginning of year $16,382,300 · end of year $14,149,992

  • 29 · Capital stock, trust principal or current funds

    beginning of year $254,935 · end of year $259,115

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

    beginning of year -$784,188 · end of year -$306,393

  • 31 · Retained earnings, endowment or other funds

    beginning of year $78,534,343 · end of year $78,919,978

Mission and programs · 2023

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 25,721 CONSUMERS MONTHLY.

Activities or mission (Part I)

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF 25,721.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 25,721 CONSUMERS MONTHLY.

    Expenses $90,808,955 · Revenue $90,133,346

As filed on the 2023 return.

Listed in Part VII

  • Tom Saunders

    CHAIRMAN

    Total calculated
    $17,206
    From this org
    $17,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Sandina Gooding

    SEC/TREASURER

    Total calculated
    $16,206
    From this org
    $16,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Timothy S Eldridge

    DIRECTOR

    Total calculated
    $16,206
    From this org
    $16,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Rick Hord

    DIRECTOR

    Total calculated
    $20,206
    From this org
    $20,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • John Roe

    VICE-CHAIR

    Total calculated
    $22,206
    From this org
    $22,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Regina Rose

    DIRECTOR

    Total calculated
    $16,956
    From this org
    $16,956
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Shane Smoot

    DIRECTOR

    Total calculated
    $15,206
    From this org
    $15,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brandon Hunt

    CEO

    Total calculated
    $203,864
    From this org
    $157,977
    From related orgs
    $0
    Other
    $45,887
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,977
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $45,887
    Filer's total
    $203,864

  • Cameron Crawford

    CONSTRUCTION FOREMAN

    Total calculated
    $174,054
    From this org
    $139,611
    From related orgs
    $0
    Other
    $34,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,611
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,443
    Filer's total
    $174,054

  • Justin Dailey

    1ST CLASS LINEMAN

    Total calculated
    $147,632
    From this org
    $120,139
    From related orgs
    $0
    Other
    $27,493
    Hours/week
    40

  • Lauren Fritz

    CFO

    Total calculated
    $151,127
    From this org
    $114,031
    From related orgs
    $0
    Other
    $37,096
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,031
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $37,096
    Filer's total
    $151,127

  • Tommy Parks

    1ST CLASS LINEMAN

    Total calculated
    $145,021
    From this org
    $111,092
    From related orgs
    $0
    Other
    $33,929
    Hours/week
    40

  • Kevin Clevenger

    CONSTRUCTION CREW LEADER

    Total calculated
    $143,985
    From this org
    $109,510
    From related orgs
    $0
    Other
    $34,475
    Hours/week
    40

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

None.

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.

  • FM UTILITY RESOURCES LLC

    UTILITY SERVICES · KY · income $0 · assets $183,412

    Directly controlled by FLEMING-MASON ENERGY COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
7 June 2024
IRS schema version
2023v5.0
Source object
202411639349301236

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