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Nonprofiteer
← JACKSON ENERGY COOPERATIVE CORPORAT ION INC

Form 990 for tax year 2023

Filed by JACKSON ENERGY COOPERATIVE CORPORAT ION INC.

Totals

Total revenue
$123,029,209
Total expenses
$123,029,209
Contributions and grants received
$0
Grants paid
$30,500
Program service revenue
$117,794,237
Investment income
$266,192
Other revenue
$4,968,780
Total assets, end of year
$297,787,078
Total liabilities, end of year
$164,358,736
Net assets or fund balances, end of year
$133,428,342
Program services expenses (Part IX)
$123,029,209
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$123,029,209

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: ELECTRIC SERVICE

    total $117,784,232 · related or exempt $117,784,232

  • 2b · Program service revenue: ELECTRIC MERCHANDISE

    total $10,005 · related or exempt $10,005

  • 3 · Investment income

    total $266,192 · excluded $266,192

  • 6a · Gross rents

    real property $35,850

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $35,850

  • 6d · Net rental income or loss

    total $35,850 · excluded $35,850

  • 11a · Other revenue: JOINT USE POLE RENT

    total $1,812,701 · excluded $1,812,701

  • 11b · Other revenue: G&T PATRONAGE CAPITAL

    total $1,736,666 · related or exempt $1,736,666

  • 11c · Other revenue: SUBSIDIARY INCOME

    total $817,938 · unrelated business $817,938

  • 11d · All other revenue

    total $565,625 · related or exempt $404,170 · excluded $161,455

  • 11e · Other revenue, total

    $4,932,930

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $30,500 · program services $30,500

  • 4 · Benefits paid to or for members

    total -$618,010 · program services -$618,010

  • 5 · Compensation of officers, directors and key employees

    total $469,753 · program services $469,753

  • 7 · Other salaries and wages

    total $10,464,707 · program services $10,464,707

  • 8 · Pension plan contributions

    total $2,267,139 · program services $2,267,139

  • 9 · Other employee benefits

    total $2,137,969 · program services $2,137,969

  • 10 · Payroll taxes

    total $803,953 · program services $803,953

  • 11b · Fees: legal

    total $17,815 · program services $17,815

  • 11c · Fees: accounting

    total $38,725 · program services $38,725

  • 20 · Interest

    total $3,974,014 · program services $3,974,014

  • 22 · Depreciation, depletion and amortization

    total $11,935,421 · program services $11,935,421

  • 23 · Insurance

    total $428,657 · program services $428,657

  • 24a · Other expenses: COST OF PURCHASE POWER

    total $81,726,509 · program services $81,726,509

  • 24b · Other expenses: DISTRIBUTION - MAINT

    total $11,654,476 · program services $11,654,476

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $5,320,191 · program services $5,320,191

  • 24d · Other expenses: ADMIN AND GENERAL

    total $4,851,286 · program services $4,851,286

  • 24e · All other expenses

    total -$12,473,896 · program services -$12,473,896

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,063,933 · end of year $3,889,710

  • 2 · Savings and temporary cash investments

    beginning of year $570 · end of year $570

  • 4 · Accounts receivable

    beginning of year $21,581,180 · end of year $17,708,062

  • 8 · Inventories for sale or use

    beginning of year $3,592,735 · end of year $4,325,058

  • 9 · Prepaid expenses and deferred charges

    beginning of year $316,414 · end of year $318,784

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

    $306,764,353

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

    $117,918,680

  • 10c · Land, buildings and equipment, net

    beginning of year $180,670,634 · end of year $188,845,673

  • 12 · Investments: other securities

    beginning of year $9,000,000

  • 13 · Investments: program-related

    beginning of year $75,203,349 · end of year $77,886,914

  • 15 · Other assets

    beginning of year $5,778,368 · end of year $4,812,307

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,437,821 · end of year $10,898,914

  • 23 · Secured mortgages and notes payable

    beginning of year $140,420,477 · end of year $139,649,512

  • 25 · Other liabilities

    beginning of year $13,490,446 · end of year $13,810,310

  • 29 · Capital stock, trust principal or current funds

    beginning of year $955,900 · end of year $956,565

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

    beginning of year -$497,980 · end of year -$497,980

  • 31 · Retained earnings, endowment or other funds

    beginning of year $134,400,519 · end of year $132,969,757

Mission and programs · 2023

Mission

DISTRIBUTION SALES OF ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS TO AN AVERAGE OF OVER 52,940 PER MONTH.

    Expenses $123,029,209 · Revenue $119,935,073

As filed on the 2023 return.

Listed in Part VII

  • William Brian Cooke

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.6

  • Ted Cundiff

    DIRECTOR

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Tim Bobrowski

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.7

  • Teresa Dawes

    SECRETARY-TREASURER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.3

  • Gordon Phillips

    DIRECTOR

    Total calculated
    $14,600
    From this org
    $14,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.1

  • Jim Hayes III

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.7

  • Landis Cornett

    VICE CHAIRMAN

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.1

  • William Larkey

    DIRECTOR

    Total calculated
    $13,800
    From this org
    $13,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Phillip Thompson

    CHAIRMAN

    Total calculated
    $18,400
    From this org
    $18,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.5

  • Virginia Carol Wright

    PRESIDENT & CEO

    Total calculated
    $439,388
    From this org
    $331,153
    From related orgs
    $0
    Other
    $108,235
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $331,153
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $108,235
    Filer's total
    $439,388

  • James York

    DISTRICT SUPERVISOR

    Total calculated
    $173,103
    From this org
    $127,282
    From related orgs
    $0
    Other
    $45,821
    Hours/week
    40.97

    Schedule J breakdown matched by us

    Base
    $127,282
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $45,821
    Filer's total
    $173,103

  • Jonathan Tillery

    WORKING FOREMAN

    Total calculated
    $161,290
    From this org
    $125,538
    From related orgs
    $0
    Other
    $35,752
    Hours/week
    45.38

    Schedule J breakdown matched by us

    Base
    $125,538
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $35,752
    Filer's total
    $161,290

  • Jeffrey Henderson

    VP OF E&O

    Total calculated
    $211,669
    From this org
    $146,183
    From related orgs
    $0
    Other
    $65,486
    Hours/week
    40.75

    Schedule J breakdown matched by us

    Base
    $146,183
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $65,486
    Filer's total
    $211,669

  • April Renner

    VP OF CORPORATE SVCS

    Total calculated
    $186,426
    From this org
    $152,318
    From related orgs
    $0
    Other
    $34,108
    Hours/week
    41.77

    Schedule J breakdown matched by us

    Base
    $152,318
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,108
    Filer's total
    $186,426

  • Carlos Lamb

    TRANSPORTATION SUPERVISOR

    Total calculated
    $170,907
    From this org
    $123,460
    From related orgs
    $0
    Other
    $47,447
    Hours/week
    44.81

    Schedule J breakdown matched by us

    Base
    $123,460
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $47,447
    Filer's total
    $170,907

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 · Form 990 of other organizations
  • 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.

  • JACKSON ENERGY PROPANE PLUS LLC

    RETAIL SALES OF PROPANE GAS · KY · income $7,881,873 · assets $7,946,677

    Directly controlled by JACKSON ENERGY COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
2 May 2024
IRS schema version
2023v5.0
Source object
202401279349300530

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