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Nonprofiteer
← APPALACHIAN ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by APPALACHIAN ELECTRIC COOPERATIVE.

Totals

Total revenue
$127,127,818
Total expenses
$119,331,225
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$118,828,860
Investment income
$742,671
Other revenue
$7,556,287
Total assets, end of year
$290,575,459
Total liabilities, end of year
$159,555,675
Net assets or fund balances, end of year
$131,019,784
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 ELECTRICITY

    total $117,650,923 · related or exempt $117,650,923

  • 2b · Program service revenue: CUSTOMERS' FORFEITED DISCOUNT

    total $758,498 · related or exempt $758,498

  • 2c · Program service revenue: OTHER ELECTRIC REVENUE

    total $419,439 · related or exempt $419,439

  • 3 · Investment income

    total $742,671 · excluded $742,671

  • 11a · Other revenue: RENT FROM ELECTRIC PROPERTY

    total $7,376,769 · excluded $7,376,769

  • 11b · Other revenue: MISCELLANEOUS

    total $179,518 · excluded $179,518

  • 11e · Other revenue, total

    $7,556,287

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,037,081

  • 7 · Other salaries and wages

    total $9,397,916

  • 8 · Pension plan contributions

    total $2,006,320

  • 9 · Other employee benefits

    total $1,746,341

  • 10 · Payroll taxes

    total $794,759

  • 11a · Fees: management

    total $36,400

  • 11b · Fees: legal

    total $33,378

  • 11c · Fees: accounting

    total $41,625

  • 12 · Advertising and promotion

    total $153,909

  • 20 · Interest

    total $3,727,583

  • 22 · Depreciation, depletion and amortization

    total $9,227,009

  • 24a · Other expenses: PURCHASED POWER

    total $83,473,188

  • 24b · Other expenses: MAINTENANCE

    total $2,871,634

  • 24c · Other expenses: CUST ACCOUNTS/GEN AND ADM

    total $2,525,848

  • 24d · Other expenses: TRANSMISSION/DISTRIBUTION

    total $2,258,234

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,452,967 · end of year $7,178,050

  • 2 · Savings and temporary cash investments

    beginning of year $4,184,244 · end of year $1,082,158

  • 3 · Pledges and grants receivable

    end of year $404,385

  • 4 · Accounts receivable

    beginning of year $14,327,855 · end of year $15,870,228

  • 7 · Other notes and loans receivable

    beginning of year $2,320,074 · end of year $1,917,874

  • 8 · Inventories for sale or use

    beginning of year $5,398,836 · end of year $5,047,361

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

    $377,269,605

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

    $125,948,003

  • 10c · Land, buildings and equipment, net

    beginning of year $228,636,678 · end of year $251,321,602

  • 15 · Other assets

    beginning of year $11,737,534 · end of year $7,753,801

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,302,838 · end of year $24,246,078

  • 23 · Secured mortgages and notes payable

    beginning of year $121,386,882 · end of year $127,844,483

  • 25 · Other liabilities

    beginning of year $15,187,750 · end of year $7,465,114

  • 31 · Retained earnings, endowment or other funds

    beginning of year $123,180,718 · end of year $131,019,784

Mission and programs · 2023

Mission

DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS.

  • APPALACHIAN ELECTRIC COOPERATIVE WAS FORMED IN 1940 AS A MEMBER-OWNED COOPERATIVE AND IS HEADQUARTERED IN NEW MARKET, TENNESSEE. AEC EXISTS TODAY TO DISTRIBUTE QUALITY ELECTRICITY AT THE LOWEST POSSIBLE COST, PROMOTE AND FACILITATE ECONOMIC DEVELOPMENT, AND ENHANCE THE QUALITY OF LIFE FOR ITS MEMBERS. THE COOPERATIVE PURCHASES POWER FROM THE TENNESSEE VALLEY AUTHORITY AT WHOLESALE AND SUPPLIES POWER TO 51,032 MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Josh Compton

    GM AND EXECU

    Total calculated
    $336,168
    From this org
    $237,321
    From related orgs
    $0
    Other
    $98,847
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $237,321
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,878
    Nontaxable benefits
    $71,969
    Filer's total
    $336,168

  • Joe McCarter

    VP OF ENGINE

    Total calculated
    $236,503
    From this org
    $164,931
    From related orgs
    $0
    Other
    $71,572
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $164,931
    Bonus
    not reported
    Other
    not reported
    Deferred
    $13,100
    Nontaxable benefits
    $58,472
    Filer's total
    $236,503

  • James Chambers

    OPERATING SU

    Total calculated
    $201,060
    From this org
    $149,106
    From related orgs
    $0
    Other
    $51,954
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,106
    Bonus
    not reported
    Other
    not reported
    Deferred
    $1,004
    Nontaxable benefits
    $50,950
    Filer's total
    $201,060

  • Adam Newcomb

    DIRECTOR ENG

    Total calculated
    $200,706
    From this org
    $141,118
    From related orgs
    $0
    Other
    $59,588
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,118
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $59,588
    Filer's total
    $200,706

  • Conard Frye

    VP OF ADMIN

    Total calculated
    $199,754
    From this org
    $159,773
    From related orgs
    $0
    Other
    $39,981
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $159,773
    Bonus
    not reported
    Other
    not reported
    Deferred
    $10,882
    Nontaxable benefits
    $29,099
    Filer's total
    $199,754

  • Dexter Lowe

    LINEMAN

    Total calculated
    $190,600
    From this org
    $138,407
    From related orgs
    $0
    Other
    $52,193

    Schedule J breakdown matched by us

    Base
    $138,407
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,234
    Nontaxable benefits
    $47,959
    Filer's total
    $190,600

  • Brock Johnson

    LINEMAN

    Total calculated
    $179,977
    From this org
    $129,472
    From related orgs
    $0
    Other
    $50,505

    Schedule J breakdown matched by us

    Base
    $129,472
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $50,505
    Filer's total
    $179,977

  • Tim Collins

    DIRECTOR

    Total calculated
    $15,864
    From this org
    $15,864
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Gary Jett

    PRESIDENT OC

    Total calculated
    $15,284
    From this org
    $15,284
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • John Austin

    SECRETARY/TR

    Total calculated
    $14,814
    From this org
    $14,814
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Mike Hicks

    DIRECTOR

    Total calculated
    $14,034
    From this org
    $14,034
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Randy Baxley

    DIRECTOR

    Total calculated
    $13,604
    From this org
    $13,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Mark Isom

    VICE-PRESIDE

    Total calculated
    $13,183
    From this org
    $13,183
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Mike Norton

    DIRECTOR

    Total calculated
    $13,164
    From this org
    $13,164
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Sue McBee

    DIRECTOR

    Total calculated
    $12,664
    From this org
    $12,664
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Dale Fain

    PRESIDENT JU

    Total calculated
    $12,255
    From this org
    $12,255
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Buddy Lee

    DIRECTOR

    Total calculated
    $830
    From this org
    $830
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Kimberly Sandlin

    CFO

    Total calculated
    $0
    Hours/week
    55

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • APPALACHIAN UTILITY SERVICES LLC

    SOLOR POWE · TN · assets $1,612,569

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202521359349303762

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