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Nonprofiteer
← J-A-C ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by J-A-C ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$15,418,267
Total expenses
$15,418,267
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$15,085,508
Investment income
$176,982
Other revenue
$155,777
Total assets, end of year
$43,026,830
Total liabilities, end of year
$17,272,261
Net assets or fund balances, end of year
$25,754,569
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: SALE OF ELECTRIC ENERGY

    total $14,876,359 · related or exempt $14,876,359

  • 2b · Program service revenue: WIND FARM REVENUE

    total $97,101 · related or exempt $97,101

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $56,188 · related or exempt $56,188

  • 2d · Program service revenue: ACCOUNT SERVICE CHARGES/FEES

    total $55,860 · related or exempt $55,860

  • 3 · Investment income

    total $137,055 · excluded $137,055

  • 6a · Gross rents

    real property $20,777

  • 6c · Rental income or loss

    real property $20,777

  • 6d · Net rental income or loss

    total $20,777 · excluded $20,777

  • 7a · Gross sales of assets other than inventory

    other assets $39,927

  • 7c · Gain or loss

    other assets $39,927

  • 7d · Net gain or loss

    total $39,927 · excluded $39,927

  • 10a · Gross sales of inventory

    $33,825

  • 10c · Net income from sales of inventory

    total $33,825 · excluded $33,825

  • 11a · Other revenue: MISC REVENUE

    total $101,175 · excluded $101,175

  • 11e · Other revenue, total

    $101,175

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,138,823

  • 5 · Compensation of officers, directors and key employees

    total $426,723

  • 20 · Interest

    total $181,467

  • 22 · Depreciation, depletion and amortization

    total $866,769

  • 24a · Other expenses: POWER COST

    total $10,190,990

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $1,640,285

  • 24c · Other expenses: ADMIN & GENERAL

    total $518,716

  • 24d · Other expenses: CONSUMER ACCOUNT EXPENSES

    total $454,494

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $71,033 · end of year $190,010

  • 2 · Savings and temporary cash investments

    beginning of year $147,047 · end of year $144,142

  • 4 · Accounts receivable

    beginning of year $1,168,224 · end of year $1,745,322

  • 8 · Inventories for sale or use

    beginning of year $419,954 · end of year $586,726

  • 9 · Prepaid expenses and deferred charges

    beginning of year $510,454 · end of year $1,048,515

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

    $28,686,431

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

    $9,745,107

  • 10c · Land, buildings and equipment, net

    beginning of year $17,888,075 · end of year $18,941,324

  • 13 · Investments: program-related

    beginning of year $7,385,484 · end of year $7,410,143

  • 15 · Other assets

    beginning of year $4,087 · end of year $12,960,648

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,165,877 · end of year $1,935,240

  • 23 · Secured mortgages and notes payable

    end of year $13,300,000

  • 25 · Other liabilities

    beginning of year $1,743,778 · end of year $2,037,021

  • 29 · Capital stock, trust principal or current funds

    beginning of year $58,170 · end of year $59,385

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $91,730 · end of year $91,730

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,534,803 · end of year $25,603,454

Mission and programs · 2022

Mission

TO PROVIDE ELECTRICITY TO RURAL AND SURROUNDING COMMUNITIES ON A COOPERATIVE BASIS AND AT THE MOST REASONABLE PRICE POSSIBLE.

  • TO PROVIDE ELECTRICITY TO OUR MEMBERS - 5,988 ACTIVE SERVICES AT YEAR-END (7,347 TOTAL SERVICES IN PLACE - 1,359 IDLE SERVICES)WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

As filed on the 2022 return.

Listed in Part VII

  • Troy S Wiley

    GENERAL MANA

    Total calculated
    $259,831
    From this org
    $146,515
    From related orgs
    $0
    Other
    $113,316
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,385
    Bonus
    not reported
    Other
    $2,130
    Deferred
    $79,701
    Nontaxable benefits
    $33,615
    Filer's total
    $259,831

  • Elaine Martin

    PRESIDENT

    Total calculated
    $31,518
    From this org
    $31,518
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Bill Pursley

    DIRECTOR/SEC

    Total calculated
    $29,568
    From this org
    $29,568
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Marvin Joe Geis

    DIRECTOR

    Total calculated
    $27,318
    From this org
    $27,318
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kendall Browning

    DIRECTOR

    Total calculated
    $20,450
    From this org
    $20,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Eddie Luig Jr

    VICE PRESIDE

    Total calculated
    $20,104
    From this org
    $20,104
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kenneth Teichman

    DIRECTOR

    Total calculated
    $19,229
    From this org
    $19,229
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Mark Mathews

    DIRECTOR

    Total calculated
    $18,706
    From this org
    $18,706
    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 · 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

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
11 September 2023
IRS schema version
2022v5.0
Source object
202342649349301804

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