Form 990 for tax year 2024
Filed by TALLAPOOSA RIVER ELECTRIC COOPERATIVE INC.
Totals
- Total revenue
- $84,241,671
- Total expenses
- $77,402,302
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $82,943,183
- Investment income
- $1,298,488
- Other revenue
- $0
- Total assets, end of year
- $185,854,726
- Total liabilities, end of year
- $37,477,290
- Net assets or fund balances, end of year
- $148,377,436
- 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: RESIDENTIAL SALES
total $59,051,028 · related or exempt $59,051,028
-
2b · Program service revenue: COMMERCIAL & INDUSTRIAL- LARG
total $15,139,512 · related or exempt $15,139,512
-
2c · Program service revenue: COMMERCIAL & INDUSTRIAL- SMAL
total $6,810,747 · related or exempt $6,810,747
-
2d · Program service revenue: POLE ATTACHMENTS
total $1,074,384 · related or exempt $1,074,384
-
2e · Program service revenue: MISC SERV. REV. - NON TAXABLE
total $867,272 · related or exempt $867,272
-
2f · All other program service revenue
total $240 · related or exempt $240
-
3 · Investment income
total $1,298,488 · related or exempt $1,062,082 · excluded $236,406
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $2,649,884
-
5 · Compensation of officers, directors and key employees
total $447,924
-
7 · Other salaries and wages
total $435,148
-
20 · Interest
total $921,644
-
22 · Depreciation, depletion and amortization
total $5,013,815
-
24a · Other expenses: PURCHASED POWER
total $53,622,418
-
24b · Other expenses: DIST EXP - MAINTENANCE
total $5,500,269
-
24c · Other expenses: DIST EXP - OPERATION
total $4,099,236
-
24d · Other expenses: CONSUMER ACCOUNTS EXP
total $1,855,098
-
24e · All other expenses
total $2,856,866
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,804,844 · end of year $3,299,506
-
2 · Savings and temporary cash investments
beginning of year $5,761,815 · end of year $6,050,073
-
4 · Accounts receivable
beginning of year $9,225,864 · end of year $9,670,048
-
8 · Inventories for sale or use
beginning of year $3,367,080 · end of year $4,182,088
-
9 · Prepaid expenses and deferred charges
beginning of year $214,827 · end of year $329,256
-
10a · Land, buildings and equipment: cost or other basis
$183,651,590
-
10b · Land, buildings and equipment: accumulated depreciation
$50,605,340
-
10c · Land, buildings and equipment, net
beginning of year $129,282,869 · end of year $133,046,250
-
13 · Investments: program-related
beginning of year $28,306,144 · end of year $29,277,505
-
17 · Accounts payable and accrued expenses
beginning of year $8,098,061 · end of year $9,004,414
-
23 · Secured mortgages and notes payable
beginning of year $19,483,930 · end of year $18,256,385
-
24 · Unsecured notes and loans payable
beginning of year $4,000,000 · end of year $4,000,000
-
25 · Other liabilities
beginning of year $6,190,563 · end of year $6,216,491
-
29 · Capital stock, trust principal or current funds
beginning of year $120,340 · end of year $122,432
-
31 · Retained earnings, endowment or other funds
beginning of year $140,070,549 · end of year $148,255,004
Mission and programs · 2024
Mission
TO PROVIDE DEPENDABLE ELECTRIC SERVICE AT THE LOWEST POSSIBLE COST.
-
THROUGH APPROXIMATELY 4,151 MILES OF DISTRIBUTION LINES, TALLAPOOSA RIVER ELECTRIC COOPERATIVE PROVIDED 604,721,436 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS MEMBERS.
-
COMPENSATION PROCESS - THE GOVERNING BODY EXAMINES STATE, REGIONAL, AND NATIONAL PAYROLL PAY SCALES AND COMPARES THEM TO THE EXISTING PAY RATES.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Lewis WardLEWIS WARD
GENERAL MANA
- Total calculated
- $369,292
- From this org
- $280,169
- From related orgs
- $0
- Other
- $89,123
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $271,386
- Bonus
- $1,600
- Other
- $7,183
- Deferred
- $65,088
- Nontaxable benefits
- $24,035
- Filer's total
- $369,292
-
Parker GoodmanPARKER GOODMAN
MGR ENGINEER
- Total calculated
- $238,885
- From this org
- $171,304
- From related orgs
- $0
- Other
- $67,581
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $167,790
- Bonus
- $1,700
- Other
- $1,814
- Deferred
- $43,626
- Nontaxable benefits
- $23,955
- Filer's total
- $238,885
-
Wanda ElliottWANDA ELLIOTT
MGR OF CONSU
- Total calculated
- $196,354
- From this org
- $137,897
- From related orgs
- $0
- Other
- $58,457
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $129,370
- Bonus
- $1,600
- Other
- $6,927
- Deferred
- $35,067
- Nontaxable benefits
- $23,390
- Filer's total
- $196,354
-
Kevin HandKEVIN HAND
MEMBER SERVI
- Total calculated
- $180,207
- From this org
- $125,947
- From related orgs
- $0
- Other
- $54,260
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $122,811
- Bonus
- $1,700
- Other
- $1,436
- Deferred
- $31,641
- Nontaxable benefits
- $22,619
- Filer's total
- $180,207
-
Jeff DodgenJEFF DODGEN
TRUSTEE
- Total calculated
- $33,510
- From this org
- $33,510
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
John AdcockJOHN ADCOCK
PRESIDENT
- Total calculated
- $32,403
- From this org
- $32,403
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Cb Parker JrCB PARKER JR
VICE PRESIDE
- Total calculated
- $30,311
- From this org
- $30,311
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Bruce BoswellBRUCE BOSWELL
SEC/TREAS
- Total calculated
- $26,166
- From this org
- $26,166
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Ann ParkmanANN PARKMAN
TRUSTEE
- Total calculated
- $24,079
- From this org
- $24,079
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Phillip BryantPHILLIP BRYANT
TRUSTEE
- Total calculated
- $21,286
- From this org
- $21,286
- From related orgs
- $0
- Other
- $0
- Hours/week
- 7
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 · 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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 2 April 2025
- IRS schema version
- 2024v5.0
- Source object
- 202511049349301611
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