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Nonprofiteer
← JACKSON ENERGY COOPERATIVE CORPORAT ION INC

Form 990 for tax year 2024

Filed by JACKSON ENERGY COOPERATIVE CORPORAT ION INC.

Totals

Total revenue
$128,716,370
Total expenses
$128,716,370
Contributions and grants received
$0
Grants paid
$13,825
Program service revenue
$125,097,518
Investment income
$136,243
Other revenue
$3,482,609
Total assets, end of year
$301,615,875
Total liabilities, end of year
$170,915,147
Net assets or fund balances, end of year
$130,700,728
Program services expenses (Part IX)
$128,716,370
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$128,716,370

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: ELECTRIC SERVICE

    total $125,086,662 · related or exempt $125,086,662

  • 2b · Program service revenue: ELECTRIC MERCHANDISE

    total $10,856 · related or exempt $10,856

  • 3 · Investment income

    total $136,243 · excluded $136,243

  • 6a · Gross rents

    real property $29,900

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $29,900

  • 6d · Net rental income or loss

    total $29,900 · excluded $29,900

  • 11a · Other revenue: JOINT USE POLE RENT

    total $1,760,162 · excluded $1,760,162

  • 11b · Other revenue: SUBSIDIARY INCOME

    total $622,879 · unrelated business $622,879

  • 11c · Other revenue: G&T PATRONAGE CAPITAL

    total $502,216 · related or exempt $502,216

  • 11d · All other revenue

    total $567,452 · related or exempt $444,608 · excluded $122,844

  • 11e · Other revenue, total

    $3,452,709

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $13,825 · program services $13,825

  • 4 · Benefits paid to or for members

    total -$1,933,788 · program services -$1,933,788

  • 5 · Compensation of officers, directors and key employees

    total $493,348 · program services $493,348

  • 7 · Other salaries and wages

    total $10,852,310 · program services $10,852,310

  • 8 · Pension plan contributions

    total $2,387,949 · program services $2,387,949

  • 9 · Other employee benefits

    total $2,390,413 · program services $2,390,413

  • 10 · Payroll taxes

    total $835,353 · program services $835,353

  • 11b · Fees: legal

    total $23,440 · program services $23,440

  • 11c · Fees: accounting

    total $32,600 · program services $32,600

  • 20 · Interest

    total $4,385,484 · program services $4,385,484

  • 22 · Depreciation, depletion and amortization

    total $12,402,387 · program services $12,402,387

  • 23 · Insurance

    total $479,813 · program services $479,813

  • 24a · Other expenses: COST OF PURCHASE POWER

    total $86,350,871 · program services $86,350,871

  • 24b · Other expenses: DISTRIBUTION - MAINT

    total $13,058,070 · program services $13,058,070

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $5,292,555 · program services $5,292,555

  • 24d · Other expenses: ADMIN AND GENERAL

    total $4,884,387 · program services $4,884,387

  • 24e · All other expenses

    total -$13,232,647 · program services -$13,232,647

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,889,710 · end of year $3,928,752

  • 2 · Savings and temporary cash investments

    beginning of year $570 · end of year $570

  • 4 · Accounts receivable

    beginning of year $17,708,062 · end of year $17,078,266

  • 8 · Inventories for sale or use

    beginning of year $4,325,058 · end of year $4,488,548

  • 9 · Prepaid expenses and deferred charges

    beginning of year $318,784 · end of year $289,558

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

    $317,009,613

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

    $124,215,087

  • 10c · Land, buildings and equipment, net

    beginning of year $188,845,673 · end of year $192,794,526

  • 13 · Investments: program-related

    beginning of year $77,886,914 · end of year $79,162,869

  • 15 · Other assets

    beginning of year $4,812,307 · end of year $3,872,786

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,898,914 · end of year $10,889,983

  • 23 · Secured mortgages and notes payable

    beginning of year $139,649,512 · end of year $145,695,097

  • 25 · Other liabilities

    beginning of year $13,810,310 · end of year $14,330,067

  • 29 · Capital stock, trust principal or current funds

    beginning of year $956,565 · end of year $960,990

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

    beginning of year -$497,980 · end of year $156,996

  • 31 · Retained earnings, endowment or other funds

    beginning of year $132,969,757 · end of year $129,582,742

Mission and programs · 2024

Mission

DISTRIBUTION SALES OF ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS TO AN AVERAGE OF OVER 53,290 PER MONTH.

    Expenses $128,716,370 · Grants $13,825 · Revenue $126,044,342

As filed on the 2024 return.

Listed in Part VII

  • William Brian Cooke

    DIRECTOR

    Total calculated
    $16,800
    From this org
    $16,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Wesley Blake Sloan

    DIRECTOR

    Total calculated
    $12,200
    From this org
    $12,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Tim Bobrowski

    DIRECTOR

    Total calculated
    $17,200
    From this org
    $17,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.6

  • Teresa Dawes

    SECRETARY-TREASURER

    Total calculated
    $19,400
    From this org
    $19,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Gordon Phillips

    DIRECTOR

    Total calculated
    $17,600
    From this org
    $17,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.8

  • Jim Hayes III

    DIRECTOR

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.7

  • Landis Cornett

    VICE CHAIRMAN

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • William Larkey

    DIRECTOR

    Total calculated
    $16,600
    From this org
    $16,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.7

  • Phillip Thompson

    CHAIRMAN

    Total calculated
    $19,400
    From this org
    $19,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.7

  • Virginia Carol Wright

    PRESIDENT & CEO

    Total calculated
    $450,091
    From this org
    $342,248
    From related orgs
    $0
    Other
    $107,843
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $342,248
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $107,843
    Filer's total
    $450,091

  • James York

    DISTRICT SUPERVISOR

    Total calculated
    $169,113
    From this org
    $125,359
    From related orgs
    $0
    Other
    $43,754
    Hours/week
    44.5

    Schedule J breakdown matched by us

    Base
    $125,359
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $43,754
    Filer's total
    $169,113

  • Jonathan Tillery

    WORKING FOREMAN

    Total calculated
    $170,331
    From this org
    $136,679
    From related orgs
    $0
    Other
    $33,652
    Hours/week
    52.08

    Schedule J breakdown matched by us

    Base
    $136,679
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $33,652
    Filer's total
    $170,331

  • Jeffrey Henderson

    VP OF E&O

    Total calculated
    $217,910
    From this org
    $153,595
    From related orgs
    $0
    Other
    $64,315
    Hours/week
    42.6

    Schedule J breakdown matched by us

    Base
    $153,595
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $64,315
    Filer's total
    $217,910

  • April Renner

    VP OF CORPORATE SVCS

    Total calculated
    $195,247
    From this org
    $160,960
    From related orgs
    $0
    Other
    $34,287
    Hours/week
    46.48

    Schedule J breakdown matched by us

    Base
    $160,960
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,287
    Filer's total
    $195,247

  • James Parrett

    SERVICE TECH / LINEMAN

    Total calculated
    $167,282
    From this org
    $124,144
    From related orgs
    $0
    Other
    $43,138
    Hours/week
    52.76

    Schedule J breakdown matched by us

    Base
    $124,144
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $43,138
    Filer's total
    $167,282

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.

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.

  • JACKSON ENERGY PROPANE PLUS LLC

    RETAIL SALES OF PROPANE GAS · KY · income $622,879 · assets $7,825,697

    Directly controlled by JACKSON ENERGY COOPERATIVE

Provenance

Return type
form_990
Tax year
2024
Filed
17 April 2025
IRS schema version
2024v5.1
Source object
202501299349302660

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