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Nonprofiteer
← DIXIE ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by DIXIE ELECTRIC COOPERATIVE.

Totals

Total revenue
$80,816,986
Total expenses
$77,045,769
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$78,306,336
Investment income
$1,756,862
Other revenue
$753,788
Total assets, end of year
$171,024,876
Total liabilities, end of year
$98,912,049
Net assets or fund balances, end of year
$72,112,827
Program services expenses (Part IX)
$77,045,769
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$77,045,769

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: RESIDENTIAL SALES

    total $43,970,085 · related or exempt $43,970,085

  • 2b · Program service revenue: COMMERCIAL & INDUSTRIAL- SMAL

    total $24,442,027 · related or exempt $24,442,027

  • 2c · Program service revenue: COMMERCIAL & INDUSTRIAL- LARG

    total $8,758,365 · related or exempt $8,758,365

  • 2d · Program service revenue: PUBLIC STREET LIGHTING

    total $562,527 · related or exempt $562,527

  • 2e · Program service revenue: MISC SERVICE REVENUES

    total $298,937 · related or exempt $298,937

  • 2f · All other program service revenue

    total $274,395 · related or exempt $274,395

  • 3 · Investment income

    total $1,756,862 · related or exempt $254,107 · excluded $1,502,755

  • 6a · Gross rents

    real property $325,506

  • 6c · Rental income or loss

    real property $325,506

  • 6d · Net rental income or loss

    total $325,506 · excluded $325,506

  • 11a · Other revenue: EIN 90-0025341

    total $428,282 · excluded $428,282

  • 11e · Other revenue, total

    $428,282

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,211,949 · program services $2,211,949

  • 5 · Compensation of officers, directors and key employees

    total $838,946 · program services $838,946

  • 7 · Other salaries and wages

    total $906,695 · program services $906,695

  • 20 · Interest

    total $2,233,612 · program services $2,233,612

  • 22 · Depreciation, depletion and amortization

    total $4,685,690 · program services $4,685,690

  • 24a · Other expenses: PURCHASED POWER

    total $46,539,010 · program services $46,539,010

  • 24b · Other expenses: DISTRIBUTION EXPENSES- OP

    total $4,895,866 · program services $4,895,866

  • 24c · Other expenses: DISTRIBUTION EXPENSES- MA

    total $3,968,091 · program services $3,968,091

  • 24d · Other expenses: ADMIN & GENERAL

    total $3,270,547 · program services $3,270,547

  • 24e · All other expenses

    total $7,495,363 · program services $7,495,363

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,855,447 · end of year $3,397,999

  • 2 · Savings and temporary cash investments

    beginning of year $936,113 · end of year $4,000,000

  • 4 · Accounts receivable

    beginning of year $6,730,283 · end of year $7,090,480

  • 7 · Other notes and loans receivable

    beginning of year $2,628 · end of year $1,489

  • 8 · Inventories for sale or use

    beginning of year $2,064,867 · end of year $2,262,199

  • 9 · Prepaid expenses and deferred charges

    beginning of year $274,310 · end of year $349,857

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

    $164,787,627

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

    $41,132,745

  • 10c · Land, buildings and equipment, net

    beginning of year $117,280,912 · end of year $123,654,882

  • 12 · Investments: other securities

    beginning of year $1,576,861 · end of year $2,005,143

  • 13 · Investments: program-related

    beginning of year $26,943,563 · end of year $28,155,156

  • 15 · Other assets

    beginning of year $58,401 · end of year $107,671

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,540,541 · end of year $10,817,039

  • 23 · Secured mortgages and notes payable

    beginning of year $66,142,768 · end of year $74,173,351

  • 25 · Other liabilities

    beginning of year $12,842,788 · end of year $13,921,659

  • 31 · Retained earnings, endowment or other funds

    beginning of year $68,197,288 · end of year $72,112,827

Mission and programs · 2023

Mission

DIXIE ELECTRIC COOPERATIVE IS COMMITTED TO SAFELY PROVIDING ITS MEMBER- OWNERS WITH ECONOMICAL AND RELIABLE ELECTRIC POWER AND RELATED SERVICES.

  • PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 26,514 MEMBER-OWNERS WITHIN ITS EIGHT COUNTY SERVICE TERRITORY LOCATED IN CENTRAL ALABAMA, INCLUDING BULLOCK, MACON AND MONTGOMERY COUNTIES.

    Expenses $75,300,128 · Revenue $78,306,336

  • ALLOCATION OF TRUSTEE AND KEY EMPLOYEE SALARY EXPENSES.

    Expenses $1,745,641

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Andrew Callaway

    CHAIRMAN

    Total calculated
    $42,384
    From this org
    $42,000
    From related orgs
    $0
    Other
    $384
    Hours/week
    7

  • James Sikes

    TRUSTEE

    Total calculated
    $23,491
    From this org
    $23,000
    From related orgs
    $0
    Other
    $491
    Hours/week
    3

  • Kim Jackson

    SECRETARY/TR

    Total calculated
    $31,170
    From this org
    $30,500
    From related orgs
    $0
    Other
    $670
    Hours/week
    5

  • Albert J Perry

    TRUSTEE

    Total calculated
    $26,779
    From this org
    $26,250
    From related orgs
    $0
    Other
    $529
    Hours/week
    4

  • John P Livings

    TRUSTEE

    Total calculated
    $24,301
    From this org
    $24,000
    From related orgs
    $0
    Other
    $301
    Hours/week
    3

  • Jimmy Ellis

    SECRETARY/TR

    Total calculated
    $39,170
    From this org
    $36,500
    From related orgs
    $2,000
    Other
    $670
    Hours/week
    6 + 1 related

  • Tom James

    TRUSTEE

    Total calculated
    $31,948
    From this org
    $29,500
    From related orgs
    $2,000
    Other
    $448
    Hours/week
    5 + 1 related

  • Helena Duncan

    TRUSTEE

    Total calculated
    $25,170
    From this org
    $24,500
    From related orgs
    $0
    Other
    $670
    Hours/week
    3

  • Thomas Ellis

    TRUSTEE

    Total calculated
    $30,670
    From this org
    $30,000
    From related orgs
    $0
    Other
    $670
    Hours/week
    4

  • Gary Harrison

    CEO/GENERAL

    Total calculated
    $484,063
    From this org
    $383,095
    From related orgs
    $0
    Other
    $100,968
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $366,137
    Bonus
    not reported
    Other
    $16,958
    Deferred
    $75,039
    Nontaxable benefits
    $25,929
    Filer's total
    $484,063

  • Mike Barlow

    CFO

    Total calculated
    $261,912
    From this org
    $189,601
    From related orgs
    $0
    Other
    $72,311
    Hours/week
    50 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $181,256
    Bonus
    not reported
    Other
    $8,345
    Deferred
    $46,871
    Nontaxable benefits
    $25,440
    Filer's total
    $261,912

  • Brandon Johnson

    VP-ENGINEERI

    Total calculated
    $348,421
    From this org
    $212,744
    From related orgs
    $0
    Other
    $135,677
    Hours/week
    50 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $207,545
    Bonus
    not reported
    Other
    $5,199
    Deferred
    $109,981
    Nontaxable benefits
    $25,696
    Filer's total
    $348,421

  • Stephen Brown

    IT MANAGER

    Total calculated
    $236,590
    From this org
    $151,291
    From related orgs
    $0
    Other
    $85,299
    Hours/week
    50 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $151,291
    Bonus
    not reported
    Other
    not reported
    Deferred
    $60,074
    Nontaxable benefits
    $25,225
    Filer's total
    $236,590

  • Ernie Faulkner

    VP-MARKETING

    Total calculated
    $280,176
    From this org
    $203,542
    From related orgs
    $0
    Other
    $76,634
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $189,489
    Bonus
    not reported
    Other
    $14,053
    Deferred
    $51,247
    Nontaxable benefits
    $25,387
    Filer's total
    $280,176

  • Brent Moffett

    VP-EXTERNAL

    Total calculated
    $229,491
    From this org
    $184,129
    From related orgs
    $0
    Other
    $45,362
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $176,796
    Bonus
    not reported
    Other
    $7,333
    Deferred
    $20,034
    Nontaxable benefits
    $25,328
    Filer's total
    $229,491

  • Houston Fuqua

    DISTRICT FOR

    Total calculated
    $210,550
    From this org
    $154,990
    From related orgs
    $0
    Other
    $55,560
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,595
    Bonus
    not reported
    Other
    $6,395
    Deferred
    $30,447
    Nontaxable benefits
    $25,113
    Filer's total
    $210,550

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 · Independent compensation consultant
  • 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.

  • SOUTH BULLOCK CO WATER AUTHORITY

    MGT. FEE · AL

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • COOPERATIVE UTILITY SERVICES LLC

    RELATED · UTILITY MT · AL · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
14 October 2024
IRS schema version
2023v5.0
Source object
202433189349308818

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