Skip to content
Nonprofiteer
← AIKEN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by AIKEN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$133,351,302
Total expenses
$135,776,672
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$133,369,213
Investment income
$2,407,461
Other revenue
-$2,425,372
Total assets, end of year
$496,691,360
Total liabilities, end of year
$371,692,400
Net assets or fund balances, end of year
$124,998,960
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: ELECTRIC REVENUE

    total $126,586,947 · related or exempt $126,586,947

  • 2b · Program service revenue: POLE RENTAL

    total $3,718,966 · excluded $3,718,966

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $3,063,300 · related or exempt $3,063,300

  • 3 · Investment income

    total $2,407,461 · excluded $2,407,461

  • 11a · Other revenue: EQUITY IN EARNINGS OF AECONNE

    total -$2,425,372 · excluded -$2,425,372

  • 11e · Other revenue, total

    -$2,425,372

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,616,080

  • 5 · Compensation of officers, directors and key employees

    total $897,455

  • 20 · Interest

    total $13,081,534

  • 22 · Depreciation, depletion and amortization

    total $10,908,739

  • 24a · Other expenses: PURCHASED POWER

    total $73,844,755

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $9,002,153

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $8,476,050

  • 24d · Other expenses: ADMIN. & GENERAL EXP.

    total $6,421,737

  • 24e · All other expenses

    total $5,528,169

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,476,921 · end of year $4,489,683

  • 4 · Accounts receivable

    beginning of year $13,725,068 · end of year $13,814,233

  • 8 · Inventories for sale or use

    beginning of year $43,475,395 · end of year $32,868,926

  • 9 · Prepaid expenses and deferred charges

    beginning of year $758,331 · end of year $767,711

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

    $493,096,373

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

    $119,810,457

  • 10c · Land, buildings and equipment, net

    beginning of year $289,546,593 · end of year $373,285,916

  • 13 · Investments: program-related

    beginning of year $51,349,733 · end of year $59,620,008

  • 15 · Other assets

    beginning of year $14,361,103 · end of year $11,844,883

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,258,889 · end of year $22,657,392

  • 23 · Secured mortgages and notes payable

    beginning of year $255,707,120 · end of year $343,426,670

  • 25 · Other liabilities

    beginning of year $5,073,568 · end of year $5,608,338

  • 29 · Capital stock, trust principal or current funds

    beginning of year $388,309 · end of year $395,464

  • 31 · Retained earnings, endowment or other funds

    beginning of year $126,265,258 · end of year $124,603,496

Mission and programs · 2023

Mission

AIKEN ELECTRIC COOPERATIVE, INC. WILL STRIVE TO PROVIDE RELIABLE, COMPETITIVELY PRICED ENERGY AND OTHER SERVICES THAT ARE DESIRED BY THE MEMBERSHIP.

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • J Strom Thurmond Jr

    PRESIDENT

    Total calculated
    $24,095
    From this org
    $22,095
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    4.96 + 1 related

  • Robert Curry

    VICE PRESIDE

    Total calculated
    $35,137
    From this org
    $33,137
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    9.25 + 1 related

  • Linda Bramlett

    SECRETARY/TR

    Total calculated
    $15,884
    From this org
    $13,884
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    8.4 + 1 related

  • Charles Sanders Jr

    ASSISTANT SE

    Total calculated
    $27,477
    From this org
    $25,477
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    7.25 + 1 related

  • Otis Dewitt Livingston

    TRUSTEE

    Total calculated
    $14,648
    From this org
    $13,148
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    3.13 + 1 related

  • O Frank Dorn

    TRUSTEE

    Total calculated
    $44,076
    From this org
    $42,076
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    10.71 + 1 related

  • Vincent Furtick Jr

    TRUSTEE

    Total calculated
    $52,160
    From this org
    $50,160
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    5.23 + 1 related

  • Dana Moseley

    TRUSTEE

    Total calculated
    $30,578
    From this org
    $28,578
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    10.66 + 1 related

  • James E Stewart Jr

    TRUSTEE

    Total calculated
    $31,187
    From this org
    $29,187
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    6.77 + 1 related

  • Scott Riddle

    TRUSTEE

    Total calculated
    $53,727
    From this org
    $50,127
    From related orgs
    $3,600
    Other
    $0
    Hours/week
    6.6 + 1 related

  • Adam L Livingston

    TRUSTEE

    Total calculated
    $3,336
    From this org
    $2,836
    From related orgs
    $500
    Other
    $0
    Hours/week
    1.75 + 1 related

  • Theo R Williams

    FORMER TRUST

    Total calculated
    $11,603
    From this org
    $11,603
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $11,603
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $11,603

  • Wayne Furtick

    FORMER TRUST

    Total calculated
    $12,186
    From this org
    $12,186
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $12,186
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,186

  • Gary L Stooksbury

    CEO

    Total calculated
    $693,453
    From this org
    $433,495
    From related orgs
    $0
    Other
    $259,958
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $404,038
    Bonus
    $3,000
    Other
    $26,457
    Deferred
    $234,910
    Nontaxable benefits
    $25,048
    Filer's total
    $693,453

  • Dan Garman

    VP ENGINEERI

    Total calculated
    $424,620
    From this org
    $242,781
    From related orgs
    $0
    Other
    $181,839
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $218,465
    Bonus
    $3,000
    Other
    $21,316
    Deferred
    $156,791
    Nontaxable benefits
    $25,048
    Filer's total
    $424,620

  • William Inman

    VP STRATEGIC

    Total calculated
    $291,407
    From this org
    $202,520
    From related orgs
    $0
    Other
    $88,887
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,400
    Bonus
    $3,000
    Other
    $20,120
    Deferred
    $63,839
    Nontaxable benefits
    $25,048
    Filer's total
    $291,407

  • Casey Grice

    CREW CHIEF

    Total calculated
    $204,916
    From this org
    $171,121
    From related orgs
    $0
    Other
    $33,795
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,210
    Bonus
    $3,500
    Other
    $411
    Deferred
    $33,795
    Nontaxable benefits
    not reported
    Filer's total
    $204,916

  • April Collins

    VP FINANCE A

    Total calculated
    $255,231
    From this org
    $167,730
    From related orgs
    $0
    Other
    $87,501
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,915
    Bonus
    $3,000
    Other
    $815
    Deferred
    $62,453
    Nontaxable benefits
    $25,048
    Filer's total
    $255,231

  • Marty Silvers

    VP OPERATION

    Total calculated
    $255,874
    From this org
    $171,412
    From related orgs
    $0
    Other
    $84,462
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,897
    Bonus
    $3,000
    Other
    $17,515
    Deferred
    $59,414
    Nontaxable benefits
    $25,048
    Filer's total
    $255,874

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 · Independent compensation consultant
  • 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.

Related corporations and trusts

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

  • AECONNECT INC

    BROADBAND · SC · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202433199349310158

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.