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Nonprofiteer
← JASPER-NEWTON ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by JASPER-NEWTON ELECTRIC COOPERATIVE.

Totals

Total revenue
$62,664,858
Total expenses
$62,664,858
Contributions and grants received
$0
Grants paid
$6,870
Program service revenue
$62,451,901
Investment income
$115,286
Other revenue
$97,671
Total assets, end of year
$160,922,012
Total liabilities, end of year
$85,624,178
Net assets or fund balances, end of year
$75,297,834
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: SALES OF ELECTRICITY

    total $58,524,792 · related or exempt $58,524,792

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $1,880,256 · related or exempt $1,880,256

  • 2c · Program service revenue: TRANSMISSION LEASE

    total $1,315,729 · related or exempt $1,315,729

  • 2d · Program service revenue: SERVICE FEES

    total $731,124 · related or exempt $731,124

  • 3 · Investment income

    total $115,286 · excluded $115,286

  • 10a · Gross sales of inventory

    $260,239

  • 10b · Cost of goods sold

    $195,951

  • 10c · Net income from sales of inventory

    total $64,288 · related or exempt $64,288

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $33,383 · excluded $33,383

  • 11e · Other revenue, total

    $33,383

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,870

  • 4 · Benefits paid to or for members

    total $1,259,426

  • 5 · Compensation of officers, directors and key employees

    total $692,334

  • 7 · Other salaries and wages

    total $6,093,598

  • 8 · Pension plan contributions

    total $1,312,146

  • 9 · Other employee benefits

    total $1,538,505

  • 10 · Payroll taxes

    total $472,057

  • 20 · Interest

    total $3,249,244

  • 22 · Depreciation, depletion and amortization

    total $5,099,721

  • 24a · Other expenses: PURCHASED POWER

    total $37,686,253

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $2,582,428

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $1,460,676

  • 24d · Other expenses: CONSUMER EXPENSE

    total $839,898

  • 24e · All other expenses

    total $371,702

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,793,974 · end of year $1,448,591

  • 2 · Savings and temporary cash investments

    beginning of year $155,397 · end of year $3,594,607

  • 4 · Accounts receivable

    beginning of year $2,671,629 · end of year $2,496,056

  • 8 · Inventories for sale or use

    beginning of year $1,264,822 · end of year $1,483,061

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,079,181 · end of year $2,649,473

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

    $184,628,348

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

    $67,722,764

  • 10c · Land, buildings and equipment, net

    beginning of year $114,378,839 · end of year $116,905,584

  • 13 · Investments: program-related

    beginning of year $27,812,811 · end of year $29,303,934

  • 15 · Other assets

    beginning of year $4,826,300 · end of year $3,040,706

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,573,346 · end of year $10,036,617

  • 21 · Escrow or custodial account liability

    beginning of year $102,375 · end of year $114,194

  • 23 · Secured mortgages and notes payable

    beginning of year $62,453,974 · end of year $62,465,716

  • 25 · Other liabilities

    beginning of year $8,701,240 · end of year $13,007,651

  • 29 · Capital stock, trust principal or current funds

    beginning of year $352,800 · end of year $355,290

  • 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 $74,799,218 · end of year $74,942,544

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 23,783 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Henry Biscamp

    PRESIDENT (JAN-APRIL)

    Total calculated
    $4,634
    From this org
    $4,634
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.3

  • Patrick Brown

    PRESIDENT

    Total calculated
    $16,901
    From this org
    $16,901
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.5

  • David Jones

    DIRECTOR

    Total calculated
    $21,301
    From this org
    $21,301
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.9

  • Alison Mathews

    DIRECTOR

    Total calculated
    $9,784
    From this org
    $9,784
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Dennis Muldrow

    SECRETARY/TREASURER

    Total calculated
    $21,537
    From this org
    $21,537
    From related orgs
    $0
    Other
    $0
    Hours/week
    35.5

  • Mack Rose

    VICE PRESIDENT

    Total calculated
    $19,901
    From this org
    $19,901
    From related orgs
    $0
    Other
    $0
    Hours/week
    38.2

  • Gary Satterwhite

    DIRECTOR

    Total calculated
    $14,301
    From this org
    $14,301
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Paul Simmons

    DIRECTOR

    Total calculated
    $11,401
    From this org
    $11,401
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.2

  • Douglas Smith

    DIRECTOR

    Total calculated
    $13,108
    From this org
    $13,108
    From related orgs
    $0
    Other
    $0
    Hours/week
    26.1

  • Godwin Turk

    DIRECTOR

    Total calculated
    $13,108
    From this org
    $13,108
    From related orgs
    $0
    Other
    $0
    Hours/week
    35.5

  • Mark Tamplin

    GENERAL MANAGER

    Total calculated
    $375,279
    From this org
    $252,201
    From related orgs
    $0
    Other
    $123,078
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $244,325
    Bonus
    $250
    Other
    $7,626
    Deferred
    $110,803
    Nontaxable benefits
    $12,275
    Filer's total
    $375,279

  • Shelley Powell

    DIRECTOR OF FINANCE

    Total calculated
    $171,079
    From this org
    $132,958
    From related orgs
    $0
    Other
    $38,121
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,858
    Bonus
    $100
    Other
    $0
    Deferred
    $37,923
    Nontaxable benefits
    $198
    Filer's total
    $171,079

  • Kevin Alex Stark

    ENERGY AUDITOR

    Total calculated
    $183,705
    From this org
    $146,082
    From related orgs
    $0
    Other
    $37,623
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $143,512
    Bonus
    $0
    Other
    $2,570
    Deferred
    $13,222
    Nontaxable benefits
    $24,401
    Filer's total
    $183,705

  • Aaron Crawford

    ASST. MANAGER OF OPERATION

    Total calculated
    $192,372
    From this org
    $139,758
    From related orgs
    $0
    Other
    $52,614
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,758
    Bonus
    $0
    Other
    $0
    Deferred
    $28,488
    Nontaxable benefits
    $24,126
    Filer's total
    $192,372

  • Dennis Joey Davis

    ASST. MANAGER ADMIN

    Total calculated
    $200,685
    From this org
    $135,965
    From related orgs
    $0
    Other
    $64,720
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,700
    Bonus
    $225
    Other
    $4,040
    Deferred
    $40,396
    Nontaxable benefits
    $24,324
    Filer's total
    $200,685

  • John Hancock

    DIRECTOR OF CONSTRUCTION

    Total calculated
    $225,256
    From this org
    $126,437
    From related orgs
    $0
    Other
    $98,819
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,262
    Bonus
    $250
    Other
    $3,925
    Deferred
    $74,447
    Nontaxable benefits
    $24,372
    Filer's total
    $225,256

  • Brandon Wellman

    SERVICEMAN

    Total calculated
    $156,528
    From this org
    $122,869
    From related orgs
    $0
    Other
    $33,659
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $122,869
    Bonus
    $0
    Other
    $0
    Deferred
    $9,533
    Nontaxable benefits
    $24,126
    Filer's total
    $156,528

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 · 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

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. MARK TAMPLIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 99,301 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,502 TOTAL REPORTED IN COLUMN C $ 110,803 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (99,301) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 48,920 EXPENSE TO THE COOPERATIVE $ 60,422 JOHN HANCOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 68,480 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,967 TOTAL REPORTED IN COLUMN C $ 74,447 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (68,480) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,963 EXPENSE TO THE COOPERATIVE $ 32,930 DENNIS JOEY DAVIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,913 EMPLOYER CONTRIBUTION TO 401(K) PLAN 483 TOTAL REPORTED IN COLUMN C $ 40,396 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,913) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,041 EXPENSE TO THE COOPERATIVE $ 27,524 AARON CRAWFORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,899 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,589 TOTAL REPORTED IN COLUMN C $ 28,488 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,899) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,838 EXPENSE TO THE COOPERATIVE $ 35,427 KEVIN ALEX STARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,362 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,860 TOTAL REPORTED IN COLUMN C $ 13,222 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,362) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,761 EXPENSE TO THE COOPERATIVE $ 25,621 SHELLEY POWELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,944 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,979 TOTAL REPORTED IN COLUMN C $ 37,923 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,944) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,892 EXPENSE TO THE COOPERATIVE $ 33,871 BRANDON WELLMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 3,726 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,807 TOTAL REPORTED IN COLUMN C $ 9,533 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (3,726) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,761 EXPENSE TO THE COOPERATIVE $ 24,568

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.

  • JASPER-NEWTON RURAL DEVELOPMENT INC

    C · SELL/MONITOR ALARMS AND SECURITY SYSTEMS · TX · 100% owned · share of assets $12,630 · controlled entity

    Directly controlled by JASPER-NEWTON ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423189349309667

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