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Nonprofiteer
← HOUSTON COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by HOUSTON COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$54,006,344
Total expenses
$54,006,344
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$52,546,268
Investment income
$594,680
Other revenue
$865,396
Total assets, end of year
$161,101,501
Total liabilities, end of year
$82,756,051
Net assets or fund balances, end of year
$78,345,450
Program services expenses (Part IX)
$54,006,344
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$54,006,344

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: Sale of Electricity

    total $52,546,268 · related or exempt $52,546,268

  • 3 · Investment income

    total $528,130 · related or exempt $528,130

  • 7a · Gross sales of assets other than inventory

    other assets $185,781

  • 7b · Less cost or other basis and sales expenses

    other assets $119,231

  • 7c · Gain or loss

    other assets $66,550

  • 7d · Net gain or loss

    total $66,550 · related or exempt $66,550

  • 11a · Other revenue: Patronage Capital

    total $865,396 · related or exempt $865,396

  • 11e · Other revenue, total

    $865,396

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,983,809 · program services $4,983,809

  • 5 · Compensation of officers, directors and key employees

    total $531,395 · program services $531,395

  • 20 · Interest

    total $2,079,078 · program services $2,079,078

  • 22 · Depreciation, depletion and amortization

    total $5,734,348 · program services $5,734,348

  • 24a · Other expenses: Purchased Power

    total $30,071,950 · program services $30,071,950

  • 24b · Other expenses: Dist Oper and Maint

    total $7,364,002 · program services $7,364,002

  • 24c · Other expenses: Admin and Gen Exp

    total $2,197,273 · program services $2,197,273

  • 24d · Other expenses: Customer Acct amd Service

    total $1,108,456 · program services $1,108,456

  • 24e · All other expenses

    total -$63,967 · program services -$63,967

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,376,726 · end of year $8,504,678

  • 2 · Savings and temporary cash investments

    beginning of year $536,929 · end of year $2,558,006

  • 4 · Accounts receivable

    beginning of year $8,400,816 · end of year $4,206,830

  • 8 · Inventories for sale or use

    beginning of year $1,281,178 · end of year $1,068,950

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,553,078 · end of year $15,202,172

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

    $167,646,311

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

    $64,754,658

  • 10c · Land, buildings and equipment, net

    beginning of year $100,868,827 · end of year $102,891,653

  • 13 · Investments: program-related

    beginning of year $24,708,705 · end of year $26,669,212

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,236,257 · end of year $4,803,961

  • 23 · Secured mortgages and notes payable

    beginning of year $74,334,306 · end of year $73,664,601

  • 25 · Other liabilities

    beginning of year $4,292,521 · end of year $4,287,489

  • 31 · Retained earnings, endowment or other funds

    beginning of year $74,863,175 · end of year $78,345,450

Mission and programs · 2023

Mission

Providing and distributing reliable electric power to rural customers on a cooperative basis. In addition, Houston County Electric Cooperative assists the community with economic development.

  • For tax year 2023, we provided and distributed reliable power to rural customers on a cooperative basis.

    Expenses $54,006,344 · Revenue $54,006,344

As filed on the 2023 return.

Listed in Part VII

  • Kathi Calvert

    CEO & General Manager

    Total calculated
    $273,128
    From this org
    $209,673
    From related orgs
    $0
    Other
    $63,455
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,629
    Bonus
    $19,306
    Other
    $2,738
    Deferred
    $40,218
    Nontaxable benefits
    $23,237
    Filer's total
    $273,128

  • Mike Lane

    COO - Distribution

    Total calculated
    $186,733
    From this org
    $133,996
    From related orgs
    $0
    Other
    $52,737
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,289
    Bonus
    $10,933
    Other
    $774
    Deferred
    $26,424
    Nontaxable benefits
    $26,313
    Filer's total
    $186,733

  • Stacy Freeman

    COO - Transmission

    Total calculated
    $178,565
    From this org
    $127,076
    From related orgs
    $0
    Other
    $51,489
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,424
    Bonus
    $9,878
    Other
    $774
    Deferred
    $25,197
    Nontaxable benefits
    $26,292
    Filer's total
    $178,565

  • William Emmons

    Director

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Mary Pearl Adams

    Director

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Grady Wakefield

    Director

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • David Whittlesey

    Director

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Charles Siems

    Director

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dan Courmier

    President

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Mitchell Huff

    Secretary

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Larry Nelms

    Director

    Total calculated
    $6,350
    From this org
    $6,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Kennom Kellum

    Vice-President

    Total calculated
    $6,350
    From this org
    $6,350
    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

None.

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
2023
Filed
1 April 2024
IRS schema version
2023v5.0
Source object
202431299349303263

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