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← DIXIE ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by DIXIE ELECTRIC COOPERATIVE.

Totals

Total revenue
$88,254,655
Total expenses
$83,084,831
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$85,893,667
Investment income
$1,881,868
Other revenue
$479,120
Total assets, end of year
$175,433,879
Total liabilities, end of year
$95,930,468
Net assets or fund balances, end of year
$79,503,411
Program services expenses (Part IX)
$83,084,831
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$83,084,831

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: RESIDENTIAL SALES

    total $46,940,863 · related or exempt $46,940,863

  • 2b · Program service revenue: COMMERCIAL & INDUSTRIAL- SMAL

    total $26,764,981 · related or exempt $26,764,981

  • 2c · Program service revenue: COMMERCIAL & INDUSTRIAL- LARG

    total $10,980,152 · related or exempt $10,980,152

  • 2d · Program service revenue: PUBLIC STREET LIGHTING

    total $589,506 · related or exempt $589,506

  • 2e · Program service revenue: FORFEITED DISCOUNT

    total $313,753 · related or exempt $313,753

  • 2f · All other program service revenue

    total $304,412 · related or exempt $304,412

  • 3 · Investment income

    total $1,881,868 · related or exempt $318,970 · excluded $1,562,898

  • 6a · Gross rents

    real property $292,272

  • 6c · Rental income or loss

    real property $292,272

  • 6d · Net rental income or loss

    total $292,272 · excluded $292,272

  • 11a · Other revenue: EIN 90-0025341

    total $186,848 · excluded $186,848

  • 11e · Other revenue, total

    $186,848

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,243,119 · program services $2,243,119

  • 5 · Compensation of officers, directors and key employees

    total $863,279 · program services $863,279

  • 7 · Other salaries and wages

    total $965,627 · program services $965,627

  • 20 · Interest

    total $2,472,999 · program services $2,472,999

  • 22 · Depreciation, depletion and amortization

    total $4,992,326 · program services $4,992,326

  • 24a · Other expenses: PURCHASED POWER

    total $50,266,117 · program services $50,266,117

  • 24b · Other expenses: DISTRIBUTION EXPENSES- OP

    total $5,629,136 · program services $5,629,136

  • 24c · Other expenses: ADMIN & GENERAL

    total $3,965,266 · program services $3,965,266

  • 24d · Other expenses: DISTRIBUTION EXPENSES- MA

    total $3,848,561 · program services $3,848,561

  • 24e · All other expenses

    total $7,838,401 · program services $7,838,401

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,397,999 · end of year $2,607,652

  • 2 · Savings and temporary cash investments

    beginning of year $4,000,000 · end of year $500,000

  • 4 · Accounts receivable

    beginning of year $7,090,480 · end of year $7,617,210

  • 7 · Other notes and loans receivable

    beginning of year $1,489 · end of year $1,179

  • 8 · Inventories for sale or use

    beginning of year $2,262,199 · end of year $2,244,771

  • 9 · Prepaid expenses and deferred charges

    beginning of year $349,857 · end of year $239,051

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

    $174,978,277

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

    $43,639,625

  • 10c · Land, buildings and equipment, net

    beginning of year $123,654,882 · end of year $131,338,652

  • 12 · Investments: other securities

    beginning of year $2,005,143 · end of year $1,441,991

  • 13 · Investments: program-related

    beginning of year $28,155,156 · end of year $29,375,120

  • 15 · Other assets

    beginning of year $107,671 · end of year $68,253

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,817,039 · end of year $10,171,450

  • 23 · Secured mortgages and notes payable

    beginning of year $74,173,351 · end of year $71,202,806

  • 25 · Other liabilities

    beginning of year $13,921,659 · end of year $14,556,212

  • 31 · Retained earnings, endowment or other funds

    beginning of year $72,112,827 · end of year $79,503,411

Mission and programs · 2024

Mission

DIXIE ELECTRIC COOPERATIVE IS COMMITTED TO SAFELY PROVIDING ITS MEMBER- OWNERS WITH ECONOMICAL AND RELIABLE ELECTRIC POWER AND RELATED SERVICES.

  • PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 26,989 MEMBER-OWNERS WITHIN ITS EIGHT COUNTY SERVICE TERRITORY LOCATED IN CENTRAL ALABAMA, INCLUDING BULLOCK, MACON AND MONTGOMERY COUNTIES.

    Expenses $81,255,925 · Revenue $85,893,667

  • ALLOCATION OF TRUSTEE AND KEY EMPLOYEE SALARY EXPENSES.

    Expenses $1,828,906

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Andrew Callaway

    TRUSTEE

    Total calculated
    $37,395
    From this org
    $36,500
    From related orgs
    $500
    Other
    $395
    Hours/week
    6 + 1 related

  • James Sikes

    TRUSTEE

    Total calculated
    $22,005
    From this org
    $21,500
    From related orgs
    $0
    Other
    $505
    Hours/week
    2

  • Kim Jackson

    TRUSTEE

    Total calculated
    $18,516
    From this org
    $18,000
    From related orgs
    $0
    Other
    $516
    Hours/week
    2

  • Albert J Perry

    TRUSTEE

    Total calculated
    $28,544
    From this org
    $28,000
    From related orgs
    $0
    Other
    $544
    Hours/week
    4

  • John P Livings

    TRUSTEE

    Total calculated
    $24,310
    From this org
    $24,000
    From related orgs
    $0
    Other
    $310
    Hours/week
    3

  • Jimmy Ellis

    VICE CHAIRMA

    Total calculated
    $36,689
    From this org
    $34,500
    From related orgs
    $1,500
    Other
    $689
    Hours/week
    6 + 1 related

  • Tom James

    CHAIRMAN

    Total calculated
    $37,211
    From this org
    $35,250
    From related orgs
    $1,500
    Other
    $461
    Hours/week
    6 + 1 related

  • Helena Duncan

    SECRETARY/TR

    Total calculated
    $23,439
    From this org
    $22,250
    From related orgs
    $500
    Other
    $689
    Hours/week
    3 + 1 related

  • Thomas Ellis

    TRUSTEE

    Total calculated
    $27,689
    From this org
    $27,000
    From related orgs
    $0
    Other
    $689
    Hours/week
    3

  • Gary Harrison

    CEO/GENERAL

    Total calculated
    $527,766
    From this org
    $417,723
    From related orgs
    $0
    Other
    $110,043
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $398,321
    Bonus
    not reported
    Other
    $19,402
    Deferred
    $84,305
    Nontaxable benefits
    $25,738
    Filer's total
    $527,766

  • Mike Barlow

    CFO

    Total calculated
    $273,433
    From this org
    $198,556
    From related orgs
    $0
    Other
    $74,877
    Hours/week
    50 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $189,790
    Bonus
    not reported
    Other
    $8,766
    Deferred
    $49,478
    Nontaxable benefits
    $25,399
    Filer's total
    $273,433

  • Brandon Johnson

    VP-ENGINEERI

    Total calculated
    $381,228
    From this org
    $239,499
    From related orgs
    $0
    Other
    $141,729
    Hours/week
    50 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $221,756
    Bonus
    not reported
    Other
    $17,743
    Deferred
    $116,168
    Nontaxable benefits
    $25,561
    Filer's total
    $381,228

  • Stephen Brown

    IT MANAGER

    Total calculated
    $247,880
    From this org
    $158,426
    From related orgs
    $0
    Other
    $89,454
    Hours/week
    48 + 2 related

    Schedule J breakdown matched by us

    Base
    $158,426
    Bonus
    not reported
    Other
    not reported
    Deferred
    $64,398
    Nontaxable benefits
    $25,056
    Filer's total
    $247,880

  • Ernie Faulkner

    VP-MARKETING

    Total calculated
    $289,658
    From this org
    $210,345
    From related orgs
    $0
    Other
    $79,313
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $196,154
    Bonus
    not reported
    Other
    $14,191
    Deferred
    $54,067
    Nontaxable benefits
    $25,246
    Filer's total
    $289,658

  • Brent Moffett

    VP-EXTERNAL

    Total calculated
    $263,796
    From this org
    $195,616
    From related orgs
    $0
    Other
    $68,180
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $184,541
    Bonus
    not reported
    Other
    $11,075
    Deferred
    $42,975
    Nontaxable benefits
    $25,205
    Filer's total
    $263,796

  • Houston Fuqua

    DISTRICT FOR

    Total calculated
    $214,570
    From this org
    $161,741
    From related orgs
    $0
    Other
    $52,829
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,024
    Bonus
    not reported
    Other
    $6,717
    Deferred
    $27,903
    Nontaxable benefits
    $24,926
    Filer's total
    $214,570

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 · Independent compensation consultant
  • 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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • SOUTH BULLOCK CO WATER AUTHORITY

    MGT. FEE · AL

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.

  • COOPERATIVE UTILITY SERVICES LLC

    RELATED · UTILITY MT · AL · general or managing partner

Provenance

Return type
form_990
Tax year
2024
Filed
20 October 2025
IRS schema version
2024v5.0
Source object
202513159349303961

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