Totals
- Total revenue
- $51,978,999
- Total expenses
- $50,132,691
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $51,762,010
- Investment income
- $216,989
- Other revenue
- $0
- Total assets, end of year
- $93,115,013
- Total liabilities, end of year
- $42,290,982
- Net assets or fund balances, end of year
- $50,824,031
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $50,132,691
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: PROVIDING ELECTRICITY
total $51,762,010 · related or exempt $51,762,010 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $216,989 · related or exempt $216,989 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $910,335
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $4,763,510
-
8 · Pension plan contributions
total $1,358,873
-
9 · Other employee benefits
total $644,838
-
10 · Payroll taxes
total $435,078
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $22,930
-
11c · Fees: accounting
total $25,850
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $17,054
-
12 · Advertising and promotion
total $156,929
-
13 · Office expenses
total $373,513
-
15 · Royalties
total $0
-
16 · Occupancy
total $733,009
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $1,302,094
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $3,924,341
-
23 · Insurance
total $240,645
-
24a · Other expenses: PURCHASED ELECTRICITY FOR DISTRIBUTION
total $35,161,878
-
24e · All other expenses
total $61,814
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $198,419 · end of year $279,908
-
2 · Savings and temporary cash investments
beginning of year $7,081,942 · end of year $6,813,462
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $3,220,005 · end of year $2,464,331
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $970,971 · end of year $1,262,517
-
9 · Prepaid expenses and deferred charges
beginning of year $92,906 · end of year $112,157
-
10a · Land, buildings and equipment: cost or other basis
$110,879,818
-
10b · Land, buildings and equipment: accumulated depreciation
$30,554,231
-
10c · Land, buildings and equipment, net
beginning of year $80,411,564 · end of year $80,325,587
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $1,730,485 · end of year $1,857,051
-
17 · Accounts payable and accrued expenses
beginning of year $8,827,943 · end of year $8,185,817
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $34,593,778 · end of year $32,512,900
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $1,303,303 · end of year $1,592,265
-
29 · Capital stock, trust principal or current funds
beginning of year $87,185 · end of year $83,640
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $48,894,083 · end of year $50,740,391
Mission and programs · 2022
Mission
TO PROVIDE REASONABLY PRICED ELECTRICITY TO RURAL CONSUMERS
Activities or mission (Part I)
TO PROVIDE REASONABLY PRICED ELECTRICITY TO RURAL CONSUMERS IN THE TENNESSEE VALLEY REGION
-
ELECTRICITY DISTRIBUTION
Expenses $50,132,691 · Revenue $51,978,999
As filed on the 2022 return.
Listed in Part VII
-
John BowersJOHN BOWERS
PRESIDENT
- Total calculated
- $268,858
- From this org
- $195,021
- From related orgs
- $0
- Other
- $73,837
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $195,021
- Bonus
- $0
- Other
- $0
- Deferred
- $69,378
- Nontaxable benefits
- $4,459
- Filer's total
- $268,858
-
Steve KingSTEVE KING
VP OF FINANCE
- Total calculated
- $196,440
- From this org
- $139,129
- From related orgs
- $0
- Other
- $57,311
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $139,129
- Bonus
- $0
- Other
- $0
- Deferred
- $49,510
- Nontaxable benefits
- $7,801
- Filer's total
- $196,440
-
Keith JohnsonKEITH JOHNSON
VP OF ENGINEERING
- Total calculated
- $187,080
- From this org
- $136,261
- From related orgs
- $0
- Other
- $50,819
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $136,261
- Bonus
- $0
- Other
- $0
- Deferred
- $46,360
- Nontaxable benefits
- $4,459
- Filer's total
- $187,080
-
Joseph LawsonJOSEPH LAWSON
VP OF OPERATIONS
- Total calculated
- $183,938
- From this org
- $134,318
- From related orgs
- $0
- Other
- $49,620
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,318
- Bonus
- $0
- Other
- $0
- Deferred
- $45,161
- Nontaxable benefits
- $4,459
- Filer's total
- $183,938
-
Jon HughesJON HUGHES
VP ENERGY DELIVERY
- Total calculated
- $178,273
- From this org
- $126,637
- From related orgs
- $0
- Other
- $51,636
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $126,637
- Bonus
- $0
- Other
- $0
- Deferred
- $45,161
- Nontaxable benefits
- $6,475
- Filer's total
- $178,273
-
Brad HowellBRAD HOWELL
VP HUMAN RESOURCE
- Total calculated
- $162,830
- From this org
- $116,872
- From related orgs
- $0
- Other
- $45,958
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $116,872
- Bonus
- $0
- Other
- $0
- Deferred
- $41,490
- Nontaxable benefits
- $4,468
- Filer's total
- $162,830
-
John RobertsJOHN ROBERTS
DIRECTOR
- Total calculated
- $11,400
- From this org
- $11,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Harold FinleyHAROLD FINLEY
VICE CHAIRMAN
- Total calculated
- $10,200
- From this org
- $10,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Jerry MitchellJERRY MITCHELL
DIRECTOR
- Total calculated
- $9,800
- From this org
- $9,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Ronnie FullwoodRONNIE FULLWOOD
CHAIRMAN
- Total calculated
- $6,800
- From this org
- $6,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Dwayne SmithDWAYNE SMITH
DIRECTOR
- Total calculated
- $6,400
- From this org
- $6,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Ray AllisonRAY ALLISON
TREASURER
- Total calculated
- $6,000
- From this org
- $6,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Joe PresleyJOE PRESLEY
DIRECTOR
- Total calculated
- $5,100
- From this org
- $5,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
James A MartinJAMES A MARTIN
SECRETARY
- Total calculated
- $5,000
- From this org
- $5,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Billy SurrattBILLY SURRATT
DIRECTOR
- Total calculated
- $5,000
- From this org
- $5,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
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 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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 20 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202302969349301150
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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