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Nonprofiteer
← WEBSTER ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by WEBSTER ELECTRIC COOPERATIVE.

Totals

Total revenue
$37,992,455
Total expenses
$37,992,455
Contributions and grants received
$1,220,828
Grants paid
$0
Program service revenue
$35,879,314
Investment income
$477,993
Other revenue
$414,320
Total assets, end of year
$85,233,257
Total liabilities, end of year
$42,279,011
Net assets or fund balances, end of year
$42,954,246
Program services expenses (Part IX)
$37,992,455
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$37,992,455

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.

  • 1e · Government grants (contributions)

    $1,220,828

  • 2a · Program service revenue: PROGRAM SERVICE REVEUE

    total $35,590,061 · related or exempt $35,590,061

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $289,253 · related or exempt $289,253

  • 3 · Investment income

    total $239,368 · excluded $239,368

  • 6a · Gross rents

    real property $403,039

  • 6c · Rental income or loss

    real property $403,039

  • 6d · Net rental income or loss

    total $403,039 · excluded $403,039

  • 7a · Gross sales of assets other than inventory

    other assets $238,625

  • 7c · Gain or loss

    other assets $238,625

  • 7d · Net gain or loss

    total $238,625 · excluded $238,625

  • 10a · Gross sales of inventory

    $166,807

  • 10b · Cost of goods sold

    $155,526

  • 10c · Net income from sales of inventory

    total $11,281 · excluded $11,281

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,843,008 · program services $2,843,008

  • 5 · Compensation of officers, directors and key employees

    total $923,946 · program services $923,946

  • 7 · Other salaries and wages

    total $992,645 · program services $992,645

  • 20 · Interest

    total $871,460 · program services $871,460

  • 22 · Depreciation, depletion and amortization

    total $3,452,758 · program services $3,452,758

  • 24a · Other expenses: COST OF POWER

    total $21,415,762 · program services $21,415,762

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $5,139,059 · program services $5,139,059

  • 24c · Other expenses: CONSUMER EXPENSE

    total $1,549,035 · program services $1,549,035

  • 24d · Other expenses: TAXES

    total $804,782 · program services $804,782

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,149,891 · end of year $2,450,601

  • 2 · Savings and temporary cash investments

    beginning of year $7,439,585 · end of year $3,072,129

  • 4 · Accounts receivable

    beginning of year $2,792,061 · end of year $3,474,426

  • 7 · Other notes and loans receivable

    beginning of year $287,681 · end of year $1,670,538

  • 8 · Inventories for sale or use

    beginning of year $1,079,091 · end of year $2,139,546

  • 9 · Prepaid expenses and deferred charges

    beginning of year $745,457 · end of year $569,946

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

    $103,561,839

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

    $40,402,344

  • 10c · Land, buildings and equipment, net

    beginning of year $60,373,333 · end of year $63,159,495

  • 13 · Investments: program-related

    beginning of year $9,723,122 · end of year $8,655,185

  • 15 · Other assets

    beginning of year $930,935 · end of year $41,391

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,226,363 · end of year $4,825,196

  • 23 · Secured mortgages and notes payable

    beginning of year $38,709,110 · end of year $37,453,815

  • 31 · Retained earnings, endowment or other funds

    beginning of year $41,585,683 · end of year $42,954,246

Mission and programs · 2022

Mission

TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.

  • TO PROVIDE ELECTRICITY TO OUR MEMBERS - 22,857 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

    Expenses $37,992,455 · Revenue $35,879,314

As filed on the 2022 return.

Listed in Part VII

  • Thomas E Houston

    GENERAL MANA

    Total calculated
    $392,272
    From this org
    $210,990
    From related orgs
    $0
    Other
    $181,282
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $206,819
    Bonus
    not reported
    Other
    $4,171
    Deferred
    $133,864
    Nontaxable benefits
    $47,418
    Filer's total
    $392,272

  • Shannon Beeler

    LINE SUPERIN

    Total calculated
    $238,067
    From this org
    $124,432
    From related orgs
    $0
    Other
    $113,635
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $120,033
    Bonus
    not reported
    Other
    $4,399
    Deferred
    $73,621
    Nontaxable benefits
    $40,014
    Filer's total
    $238,067

  • Steven Alexander

    LINE FOREMAN

    Total calculated
    $214,526
    From this org
    $122,823
    From related orgs
    $0
    Other
    $91,703
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $122,655
    Bonus
    not reported
    Other
    $168
    Deferred
    $48,144
    Nontaxable benefits
    $43,559
    Filer's total
    $214,526

  • Denise Holdman

    OFFICE MANAG

    Total calculated
    $199,769
    From this org
    $106,864
    From related orgs
    $0
    Other
    $92,905
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $105,835
    Bonus
    not reported
    Other
    $1,029
    Deferred
    $63,906
    Nontaxable benefits
    $28,999
    Filer's total
    $199,769

  • Samuel Green

    METERTRUCK L

    Total calculated
    $199,311
    From this org
    $119,975
    From related orgs
    $0
    Other
    $79,336
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $119,807
    Bonus
    not reported
    Other
    $168
    Deferred
    $33,941
    Nontaxable benefits
    $45,395
    Filer's total
    $199,311

  • Dustin Russell

    LINE FOREMAN

    Total calculated
    $196,064
    From this org
    $133,947
    From related orgs
    $0
    Other
    $62,117
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $133,793
    Bonus
    not reported
    Other
    $154
    Deferred
    $24,645
    Nontaxable benefits
    $37,472
    Filer's total
    $196,064

  • Eric Holmes

    LEAD LINEMAN

    Total calculated
    $195,678
    From this org
    $121,617
    From related orgs
    $0
    Other
    $74,061
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $121,367
    Bonus
    not reported
    Other
    $250
    Deferred
    $28,469
    Nontaxable benefits
    $45,592
    Filer's total
    $195,678

  • Brent Replogle

    LEAD LINEMAN

    Total calculated
    $187,070
    From this org
    $121,433
    From related orgs
    $0
    Other
    $65,637
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $121,280
    Bonus
    not reported
    Other
    $153
    Deferred
    $20,046
    Nontaxable benefits
    $45,591
    Filer's total
    $187,070

  • Richard Burlison

    MANAGER OF F

    Total calculated
    $47,038
    From this org
    $32,149
    From related orgs
    $0
    Other
    $14,889
    Hours/week
    10

  • Lloyd Gunter

    BOARD MEMBER

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Clarence Wayne Plunkett

    PRESIDENT

    Total calculated
    $7,700
    From this org
    $7,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Mona Jackson

    BOARD MEMBER

    Total calculated
    $5,800
    From this org
    $5,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Susan Newcomb

    BOARD MEMBER

    Total calculated
    $5,800
    From this org
    $5,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Alan Thomas

    BOARD MEMBER

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Kendall Galloway

    VICE-PRESIDE

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gary Ballard

    BOARD MEMBER

    Total calculated
    $3,100
    From this org
    $3,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jon Cartwright

    SECRETARY/TR

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Billy Johnston

    BOARD MEMBER

    Total calculated
    $2,300
    From this org
    $2,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 · Written employment contract
  • 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.

Provenance

Return type
form_990
Tax year
2022
Filed
1 November 2023
IRS schema version
2022v5.0
Source object
202333079349300838

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

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