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Nonprofiteer
← J-A-C ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by J-A-C ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$17,565,899
Total expenses
$17,565,899
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$17,362,202
Investment income
$66,255
Other revenue
$137,442
Total assets, end of year
$43,030,475
Total liabilities, end of year
$16,180,165
Net assets or fund balances, end of year
$26,850,310
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 $16,895,307 · related or exempt $16,895,307

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $299,009 · related or exempt $299,009

  • 2c · Program service revenue: WIND FARM REVENUE

    total $87,785 · related or exempt $87,785

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

    total $80,101 · related or exempt $80,101

  • 3 · Investment income

    total $59,955 · excluded $59,955

  • 6a · Gross rents

    real property $21,220

  • 6c · Rental income or loss

    real property $21,220

  • 6d · Net rental income or loss

    total $21,220 · excluded $21,220

  • 7a · Gross sales of assets other than inventory

    other assets $6,300

  • 7c · Gain or loss

    other assets $6,300

  • 7d · Net gain or loss

    total $6,300 · excluded $6,300

  • 10a · Gross sales of inventory

    $15,047

  • 10c · Net income from sales of inventory

    total $15,047 · excluded $15,047

  • 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 $957,590

  • 5 · Compensation of officers, directors and key employees

    total $408,837

  • 20 · Interest

    total $637,496

  • 22 · Depreciation, depletion and amortization

    total $891,922

  • 24a · Other expenses: POWER COST

    total $11,766,614

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $1,928,632

  • 24c · Other expenses: CONSUMER ACCOUNT EXPENSES

    total $496,269

  • 24d · Other expenses: ADMIN & GENERAL

    total $478,539

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $190,010 · end of year $283,920

  • 2 · Savings and temporary cash investments

    beginning of year $144,142 · end of year $593,512

  • 4 · Accounts receivable

    beginning of year $1,745,322 · end of year $1,804,879

  • 8 · Inventories for sale or use

    beginning of year $586,726 · end of year $631,815

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,048,515 · end of year $313,540

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

    $29,957,616

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

    $10,117,059

  • 10c · Land, buildings and equipment, net

    beginning of year $18,941,324 · end of year $19,840,557

  • 13 · Investments: program-related

    beginning of year $7,410,143 · end of year $7,621,905

  • 15 · Other assets

    beginning of year $12,960,648 · end of year $11,940,347

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,935,240 · end of year $1,378,472

  • 23 · Secured mortgages and notes payable

    beginning of year $13,300,000 · end of year $12,903,399

  • 25 · Other liabilities

    beginning of year $2,037,021 · end of year $1,898,294

  • 29 · Capital stock, trust principal or current funds

    beginning of year $59,385 · end of year $59,975

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

    beginning of year $91,730 · end of year $91,731

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,603,454 · end of year $26,698,604

Mission and programs · 2023

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 - 5,960 ACTIVE SERVICES AT YEAR-END (7,465 TOTAL SERVICES IN PLACE - 1,505 IDLE SERVICES)WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

As filed on the 2023 return.

Listed in Part VII

  • Troy S Wiley

    GENERAL MANA

    Total calculated
    $242,322
    From this org
    $156,020
    From related orgs
    $0
    Other
    $86,302
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,376
    Bonus
    not reported
    Other
    $3,644
    Deferred
    $52,580
    Nontaxable benefits
    $33,722
    Filer's total
    $242,322

  • Bill Pursley

    DIRECTOR/SEC

    Total calculated
    $29,540
    From this org
    $29,540
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Elaine Martin

    PRESIDENT

    Total calculated
    $28,389
    From this org
    $28,389
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Marvin Joe Geis

    DIRECTOR

    Total calculated
    $27,276
    From this org
    $27,276
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kendall Browning

    DIRECTOR

    Total calculated
    $21,561
    From this org
    $21,561
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kenneth Teichman

    DIRECTOR

    Total calculated
    $20,632
    From this org
    $20,632
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Eddie Luig Jr

    VICE PRESIDE

    Total calculated
    $20,595
    From this org
    $20,595
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Mark Mathews

    DIRECTOR

    Total calculated
    $18,522
    From this org
    $18,522
    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
2023
Filed
18 September 2024
IRS schema version
2023v5.0
Source object
202432639349300238

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