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Nonprofiteer
← MOUNTAIN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by MOUNTAIN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$71,599,601
Total expenses
$70,093,367
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$69,864,392
Investment income
$278,287
Other revenue
$1,456,922
Total assets, end of year
$143,099,743
Total liabilities, end of year
$60,762,046
Net assets or fund balances, end of year
$82,337,697
Program services expenses (Part IX)
$70,093,367
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$70,093,367

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.

  • 2f · All other program service revenue

    total $69,864,392 · related or exempt $69,864,392 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $278,287 · related or exempt $278,287 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $1,455,979 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $1,455,979 · personal property $0

  • 6d · Net rental income or loss

    total $1,455,979 · related or exempt $1,455,979 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $943 · related or exempt $943 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $943

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0

  • 7 · Other salaries and wages

    total $0 · program services $0

  • 8 · Pension plan contributions

    total $0 · program services $0

  • 9 · Other employee benefits

    total $0 · program services $0

  • 10 · Payroll taxes

    total $0 · program services $0

  • 11a · Fees: management

    total $0 · program services $0

  • 11b · Fees: legal

    total $0 · program services $0

  • 11c · Fees: accounting

    total $0 · program services $0

  • 11d · Fees: lobbying

    total $0 · program services $0

  • 11f · Fees: investment management

    total $0 · program services $0

  • 11g · Fees: other

    total $0 · program services $0

  • 12 · Advertising and promotion

    total $0 · program services $0

  • 13 · Office expenses

    total $0 · program services $0

  • 14 · Information technology

    total $0 · program services $0

  • 15 · Royalties

    total $0 · program services $0

  • 16 · Occupancy

    total $0 · program services $0

  • 17 · Travel

    total $0 · program services $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0

  • 20 · Interest

    total $0 · program services $0

  • 21 · Payments to affiliates

    total $0 · program services $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0

  • 23 · Insurance

    total $0 · program services $0

  • 24a · Other expenses: Purchased Power

    total $50,016,991 · program services $50,016,991 · management and general $0 · fundraising $0

  • 24b · Other expenses: Operating and General Expenses

    total $14,079,847 · program services $14,079,847 · management and general $0 · fundraising $0

  • 24c · Other expenses: Depreciation Expense

    total $4,627,234 · program services $4,627,234 · management and general $0 · fundraising $0

  • 24d · Other expenses: Debt Expense

    total $1,369,295 · program services $1,369,295 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,849,955 · end of year $4,139,173

  • 2 · Savings and temporary cash investments

    beginning of year $340,851 · end of year $406,004

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $3,099,011 · end of year $3,402,456

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,801,655 · end of year $1,691,804

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,412,561 · end of year $3,842,815

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

    $190,414,235

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

    $62,853,178

  • 10c · Land, buildings and equipment, net

    beginning of year $115,994,000 · end of year $127,561,057

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $2,277,200 · end of year $2,056,434

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,336,543 · end of year $9,903,141

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $28,460,546 · end of year $40,323,705

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $8,780,671 · end of year $10,535,200

  • 29 · Capital stock, trust principal or current funds

    beginning of year $144,075 · end of year $146,405

  • 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 $82,053,398 · end of year $82,191,292

Mission and programs · 2023

Mission

Electric Power Distribution: To provide reliable electric power at the lowest possible cost

Activities or mission (Part I)

Distribution of Electricity

  • Electric Power Distribution: To provide reliable electric power at the lowest possible cost

    Expenses $70,093,367 · Revenue $71,599,601

As filed on the 2023 return.

Listed in Part VII

  • Jonathan Kyle Holtsclaw

    District Manager

    Total calculated
    $85,694
    From this org
    $85,694
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Rodney Metcalf

    General Manager

    Total calculated
    $85,357
    From this org
    $85,357
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • W O Hampton

    Secretary Treasurer

    Total calculated
    $10,863
    From this org
    $10,863
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.67

  • Bruce Lacey

    Trustee

    Total calculated
    $10,475
    From this org
    $10,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.13

  • David Ellis

    President

    Total calculated
    $6,801
    From this org
    $6,801
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.85

  • Vickie Davidson

    Trustee

    Total calculated
    $6,051
    From this org
    $6,051
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.29

  • Harry Smith

    Trustee

    Total calculated
    $5,946
    From this org
    $5,946
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.21

  • Ronnie Townson

    Trustee

    Total calculated
    $5,940
    From this org
    $5,940
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.63

  • David Atwood

    Trustee

    Total calculated
    $5,844
    From this org
    $5,844
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.83

  • Robert Heck

    Trustee

    Total calculated
    $5,740
    From this org
    $5,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.13

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
23 January 2025
IRS schema version
2023v6.0
Source object
202510249349301311

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