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Nonprofiteer
← SHELBY ENERGY COOPERATIVE INC

Form 990 for tax year 2022

Filed by SHELBY ENERGY COOPERATIVE INC.

Totals

Total revenue
$57,952,933
Total expenses
$57,952,933
Contributions and grants received
$0
Grants paid
$6,000
Program service revenue
$54,999,614
Investment income
$41,665
Other revenue
$2,911,654
Total assets, end of year
$137,224,148
Total liabilities, end of year
$81,753,136
Net assets or fund balances, end of year
$55,471,012
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $54,999,614 · related or exempt $54,999,614

  • 3 · Investment income

    total $41,665 · excluded $41,665

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

    total $1,395,150 · related or exempt $1,395,150

  • 11b · Other revenue: SUBSIDIARY INCOME

    total $814,374 · unrelated business $814,374

  • 11c · Other revenue: JOINT USE RENTS

    total $471,273 · excluded $471,273

  • 11d · All other revenue

    total $230,857 · related or exempt $230,857

  • 11e · Other revenue, total

    $2,911,654

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000

  • 4 · Benefits paid to or for members

    total $2,707,550

  • 5 · Compensation of officers, directors and key employees

    total $311,496

  • 7 · Other salaries and wages

    total $2,038,348

  • 8 · Pension plan contributions

    total $241,055

  • 9 · Other employee benefits

    total $339,300

  • 10 · Payroll taxes

    total $161,464

  • 11b · Fees: legal

    total $29,002

  • 11c · Fees: accounting

    total $20,575

  • 13 · Office expenses

    total $170,783

  • 20 · Interest

    total $2,158,182

  • 22 · Depreciation, depletion and amortization

    total $3,919,633

  • 23 · Insurance

    total $132,870

  • 24a · Other expenses: PURCHASE POWER

    total $41,971,379

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $2,939,839

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $2,121,114

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $990,815

  • 24e · All other expenses

    total -$2,306,472

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,482,000 · end of year $1,236,852

  • 4 · Accounts receivable

    beginning of year $4,325,163 · end of year $6,198,433

  • 8 · Inventories for sale or use

    beginning of year $593,163 · end of year $1,278,288

  • 9 · Prepaid expenses and deferred charges

    beginning of year $313,301 · end of year $315,560

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

    $116,832,826

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

    $25,664,907

  • 10c · Land, buildings and equipment, net

    beginning of year $85,978,312 · end of year $91,167,919

  • 12 · Investments: other securities

    beginning of year $3,405,139 · end of year $3,834,837

  • 13 · Investments: program-related

    beginning of year $29,965,415 · end of year $30,891,127

  • 15 · Other assets

    beginning of year $1,961,419 · end of year $2,301,132

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,261,323 · end of year $4,795,139

  • 23 · Secured mortgages and notes payable

    beginning of year $66,884,909 · end of year $72,967,689

  • 25 · Other liabilities

    beginning of year $4,102,530 · end of year $3,990,308

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $52,775,150 · end of year $55,471,012

Mission and programs · 2022

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. PROVIDE ELECTRIC SERVICE TO OVER 17,450 CONSUMERS MONTHLY.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. PROVIDES ELECTRIC SERVICE TO OVER 17,450 CONSUMERS MONTHLY.

As filed on the 2022 return.

Listed in Part VII

  • Pat Hargadon

    DIRECTOR

    Total calculated
    $16,630
    From this org
    $16,630
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ashley Chilton

    CHAIRMAN

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Roger Taylor

    SEC/TREAS

    Total calculated
    $15,800
    From this org
    $15,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Diana Arnold

    DIRECTOR

    Total calculated
    $16,580
    From this org
    $16,580
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Wayne Stratton

    DIRECTOR

    Total calculated
    $15,800
    From this org
    $15,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeffrey Joyce

    DIRECTOR

    Total calculated
    $15,800
    From this org
    $15,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jack Bragg Jr

    PRESIDENT & CEO

    Total calculated
    $219,132
    From this org
    $215,286
    From related orgs
    $0
    Other
    $3,846
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $215,286
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $3,846
    Filer's total
    $219,132

  • Jason Ginn

    OPERATIONS/CONTRACT RESOUR

    Total calculated
    $187,633
    From this org
    $132,780
    From related orgs
    $0
    Other
    $54,853
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $132,780
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $54,853
    Filer's total
    $187,633

  • Randy Stevens

    SVP POWER DELIVERY SERVICE

    Total calculated
    $167,124
    From this org
    $134,948
    From related orgs
    $0
    Other
    $32,176
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $134,948
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,176
    Filer's total
    $167,124

  • Richard Spoonamore

    LEAD LINE TECHNICIAN

    Total calculated
    $148,937
    From this org
    $112,385
    From related orgs
    $0
    Other
    $36,552
    Hours/week
    48

  • Kelly Michels

    LEAD LINE TECHNICIAN

    Total calculated
    $156,862
    From this org
    $118,749
    From related orgs
    $0
    Other
    $38,113
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $118,749
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $38,113
    Filer's total
    $156,862

  • Matthew Reide

    LINE TECHNICIAN

    Total calculated
    $155,909
    From this org
    $125,250
    From related orgs
    $0
    Other
    $30,659
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $125,250
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $30,659
    Filer's total
    $155,909

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

  • 2 · Substantiation required before reimbursing expenses
  • 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.

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2023
IRS schema version
2022v5.0
Source object
202341309349301314

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