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Nonprofiteer
← BOWIE-CASS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by BOWIE-CASS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$102,367,019
Total expenses
$102,367,019
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$101,822,301
Investment income
$325,995
Other revenue
$218,723
Total assets, end of year
$210,404,632
Total liabilities, end of year
$99,075,792
Net assets or fund balances, end of year
$111,328,840
Program services expenses (Part IX)
$102,367,019
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$102,367,019

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 Power

    total $99,708,359 · related or exempt $99,708,359

  • 2b · Program service revenue: Internet Service Fees

    total $831,980 · related or exempt $380,504 · unrelated business $451,476

  • 2c · Program service revenue: Patronage Dividends

    total $858,365 · related or exempt $858,365

  • 2d · Program service revenue: Service Fees

    total $423,597 · related or exempt $423,597

  • 3 · Investment income

    total $70,251 · excluded $70,251

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

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $149,046

  • 6c · Rental income or loss

    real property $149,046

  • 6d · Net rental income or loss

    total $149,046 · excluded $149,046

  • 7a · Gross sales of assets other than inventory

    other assets $255,744

  • 7c · Gain or loss

    other assets $255,744

  • 7d · Net gain or loss

    total $255,744 · excluded $255,744

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Miscellaneous Income

    total $69,677 · excluded $69,677

  • 11e · Other revenue, total

    $69,677

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $1,691,384 · program services $1,691,384

  • 5 · Compensation of officers, directors and key employees

    total $454,716 · program services $454,716

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $1,767,402 · program services $1,767,402

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $7,695,272 · program services $7,695,272

  • 23 · Insurance

    total $0

  • 24a · Other expenses: PURCHASED POWER COST

    total $70,878,701 · program services $70,878,701

  • 24b · Other expenses: DISTRIBUTIONS EXPENSE-MAINTENA

    total $6,708,249 · program services $6,708,249

  • 24c · Other expenses: DISTRIBUTION EXPENSE-OPERATION

    total $6,161,280 · program services $6,161,280

  • 24d · Other expenses: GENERAL & ADMIN. EXPENSES

    total $4,384,198 · program services $4,384,198

  • 24e · All other expenses

    total $2,625,817 · program services $2,625,817

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,262,669 · end of year $5,679,796

  • 2 · Savings and temporary cash investments

    beginning of year $25,000 · end of year $25,000

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $8,468,277 · end of year $11,887,997

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,023,122 · end of year $11,884,372

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

    $259,266,709

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

    $111,837,761

  • 10c · Land, buildings and equipment, net

    beginning of year $143,823,776 · end of year $147,428,948

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $32,753,034 · end of year $33,498,519

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,734,598 · end of year $15,921,586

  • 19 · Deferred revenue

    beginning of year $149,756 · end of year $129,251

  • 23 · Secured mortgages and notes payable

    beginning of year $69,248,243 · end of year $65,540,582

  • 25 · Other liabilities

    beginning of year $28,432,773 · end of year $17,484,373

  • 31 · Retained earnings, endowment or other funds

    beginning of year $99,790,508 · end of year $111,328,840

Mission and programs · 2022

Mission

To make electric energy available to its members at the lowest cost consistent with sound economy and good management.

  • Providing electric energy to our 27,321 members, with approximately 43,832 services in place at year end on a Cooperative basis through the allocation of patronage capital.

    Expenses $102,367,019 · Revenue $101,822,301

As filed on the 2022 return.

Listed in Part VII

  • Mark A Boyd

    General Manager

    Total calculated
    $281,473
    From this org
    $210,275
    From related orgs
    $0
    Other
    $71,198
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,500
    Bonus
    $3,531
    Other
    $7,244
    Deferred
    $52,882
    Nontaxable benefits
    $18,316
    Filer's total
    $281,473

  • Jonathan T Corbin

    Engineer Manager

    Total calculated
    $210,093
    From this org
    $153,842
    From related orgs
    $0
    Other
    $56,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,085
    Bonus
    $3,569
    Other
    $1,188
    Deferred
    $38,655
    Nontaxable benefits
    $17,596
    Filer's total
    $210,093

  • Gregory Russell

    Maint. Superintend

    Total calculated
    $193,334
    From this org
    $136,782
    From related orgs
    $0
    Other
    $56,552
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,652
    Bonus
    $6,924
    Other
    $206
    Deferred
    $34,237
    Nontaxable benefits
    $22,315
    Filer's total
    $193,334

  • Sharon Cook

    CFO & HR Manager

    Total calculated
    $189,961
    From this org
    $137,895
    From related orgs
    $0
    Other
    $52,066
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,438
    Bonus
    $2,797
    Other
    $660
    Deferred
    $34,662
    Nontaxable benefits
    $17,404
    Filer's total
    $189,961

  • Colin Waldrop

    Serviceman

    Total calculated
    $172,458
    From this org
    $120,351
    From related orgs
    $0
    Other
    $52,107
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,727
    Bonus
    $541
    Other
    $83
    Deferred
    $30,319
    Nontaxable benefits
    $21,788
    Filer's total
    $172,458

  • Adam Balmain

    Serviceman

    Total calculated
    $168,789
    From this org
    $117,419
    From related orgs
    $0
    Other
    $51,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,830
    Bonus
    $479
    Other
    $110
    Deferred
    $29,582
    Nontaxable benefits
    $21,788
    Filer's total
    $168,789

  • Steve E DeLaughter

    President

    Total calculated
    $25,432
    From this org
    $25,432
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.4

  • Anthony Pinkham

    Director

    Total calculated
    $19,732
    From this org
    $19,732
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.15

  • Ryan Richey

    Director

    Total calculated
    $18,832
    From this org
    $18,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.29

  • Larry Wells

    Vice President

    Total calculated
    $18,832
    From this org
    $18,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.54

  • Hal Hess

    Director

    Total calculated
    $18,821
    From this org
    $18,821
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jerry Moody

    Ass. Sec/Treas.

    Total calculated
    $18,532
    From this org
    $18,532
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.74

  • Sue Berry

    Sec/Treasurer

    Total calculated
    $18,515
    From this org
    $18,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Denise McDaniel

    Director

    Total calculated
    $18,032
    From this org
    $18,032
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Frost

    Director

    Total calculated
    $16,515
    From this org
    $16,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.97

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 · 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
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303179349311860

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