Form 990 for tax year 2022

Filed by IRWIN ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue: $30,129,028
Total expenses: $32,087,572
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $30,095,749
Investment income: $24,441
Other revenue: $8,838
Total assets, end of year: $107,198,725
Total liabilities, end of year: $76,614,905
Net assets or fund balances, end of year: $30,583,820
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: ELECTRIC REVENUE

total $29,290,536 · related or exempt $29,290,536
2b · Program service revenue: G & T CAPITAL CREDITS

total $447,799 · related or exempt $447,799
2c · Program service revenue: OTHER CAPITAL CREDITS

total $228,407 · related or exempt $228,407
2d · Program service revenue: POLE RENTAL

total $129,007 · excluded $129,007
3 · Investment income

total $24,441 · excluded $24,441
11a · Other revenue: GAIN ON DISPOSITION OF PROPER

total $10,647 · related or exempt $10,647
11b · Other revenue: COST AND EXPENSE TREE SVC JOB

total -$1,809 · related or exempt -$1,809
11e · Other revenue, total

$8,838

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $490,200
20 · Interest

total $2,182,639
22 · Depreciation, depletion and amortization

total $3,486,809
24a · Other expenses: PURCHASED POWER

total $18,474,892
24b · Other expenses: DISTRIBUTION MAINTENANCE

total $2,329,142
24c · Other expenses: DISTRIBUTION OPERATIONS

total $1,902,744
24d · Other expenses: CONSUMER ACCOUNTS

total $1,633,996
24e · All other expenses

total $1,587,150

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $3,586,936 · end of year $521,790
4 · Accounts receivable

beginning of year $2,125,603 · end of year $1,691,817
8 · Inventories for sale or use

beginning of year $457,471 · end of year $9,939,252
9 · Prepaid expenses and deferred charges

beginning of year $491,108 · end of year $377,636
10a · Land, buildings and equipment: cost or other basis

$125,298,592
10b · Land, buildings and equipment: accumulated depreciation

$44,451,695
10c · Land, buildings and equipment, net

beginning of year $68,795,542 · end of year $80,846,897
13 · Investments: program-related

beginning of year $12,455,714 · end of year $13,073,391
15 · Other assets

beginning of year $599,691 · end of year $747,942
17 · Accounts payable and accrued expenses

beginning of year $4,066,344 · end of year $6,513,278
23 · Secured mortgages and notes payable

beginning of year $50,732,962 · end of year $69,101,406
25 · Other liabilities

beginning of year $883,778 · end of year $1,000,221
29 · Capital stock, trust principal or current funds

beginning of year $189,901 · end of year $188,154
31 · Retained earnings, endowment or other funds

beginning of year $32,639,080 · end of year $30,395,666

Mission and programs · 2022

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

As filed on the 2022 return.

Listed in Part VII

Betty MettsBETTY METTS

CHAIRMAN

Total calculated

$28,819

From this org

$28,819

From related orgs

$0

Other

$0

Hours/week

6.8
Phil GilleyPHIL GILLEY

VICE CHAIRMA

Total calculated

$28,819

From this org

$28,819

From related orgs

$0

Other

$0

Hours/week

6.3
Donald WigginsDONALD WIGGINS

SEC/TREAS.

Total calculated

$28,819

From this org

$28,819

From related orgs

$0

Other

$0

Hours/week

6.3
Keith BarnetteKEITH BARNETTE

DIRECTOR

Total calculated

$28,819

From this org

$28,819

From related orgs

$0

Other

$0

Hours/week

6.3
David ChaneyDAVID CHANEY

DIRECTOR

Total calculated

$5,875

From this org

$5,875

From related orgs

$0

Other

$0

Hours/week

6.3
Glenn GriffinGLENN GRIFFIN

DIRECTOR

Total calculated

$28,819

From this org

$28,819

From related orgs

$0

Other

$0

Hours/week

6.3
Sandy McClurdSANDY MCCLURD

DIRECTOR

Total calculated

$10,675

From this org

$10,675

From related orgs

$0

Other

$0

Hours/week

6.3
Eddie McKieEDDIE MCKIE

DIRECTOR

Total calculated

$28,819

From this org

$28,819

From related orgs

$0

Other

$0

Hours/week

6.3
Wanda McCurdyWANDA MCCURDY

DIRECTOR

Total calculated

$4,803

From this org

$4,803

From related orgs

$0

Other

$0

Hours/week

6.3
Randy CrenshawRANDY CRENSHAW

PRESIDENT/CE

Total calculated

$295,933

From this org

$250,546

From related orgs

$0

Other

$45,387

Hours/week

50

Schedule J breakdown matched by us

Base

$226,447

Bonus

$8,986

Other

$15,113

Deferred

$24,105

Nontaxable benefits

$21,282

Filer's total

$295,933
Tammie ElliotTAMMIE ELLIOT

VP ADMINISTR

Total calculated

$180,600

From this org

$145,511

From related orgs

$0

Other

$35,089

Hours/week

50

Schedule J breakdown matched by us

Base

$135,169

Bonus

$3,093

Other

$7,249

Deferred

$15,272

Nontaxable benefits

$19,817

Filer's total

$180,600
Scott AndersonSCOTT ANDERSON

MANAGER OF O

Total calculated

$137,380

From this org

$116,187

From related orgs

$0

Other

$21,193

Hours/week

50
Allen GreenALLEN GREEN

MANAGER OF S

Total calculated

$130,032

From this org

$115,977

From related orgs

$0

Other

$14,055

Hours/week

50
Gordon TappGORDON TAPP

MANAGER OF C

Total calculated

$137,056

From this org

$112,858

From related orgs

$0

Other

$24,198

Hours/week

50
David MartinDAVID MARTIN

MANAGER OF M

Total calculated

$126,762

From this org

$101,337

From related orgs

$0

Other

$25,425

Hours/week

50

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
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PART III: THE COOPERATIVE HAS A MEMORANDUM OF UNDERSTANDING WITH ANOTHER COOPERATIVE WHEREBY THE COOPERATIVES SHARE AN EXECUTIVE MANAGER. IRWIN ELECTRIC MEMBERSHIP CORPORATION RECEIVED 124,000 FOR THESE SHARED SERVICES DURING 2022.

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: 2022
Filed: 6 November 2023
IRS schema version: 2022v5.0
Source object: 202303119349302525

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.