Skip to content
Nonprofiteer
← FARMERS ELECTRIC CHARITABLEFOUNDATION

Form 990 for tax year 2023

Filed by FARMERS ELECTRIC CHARITABLEFOUNDATION.

Totals

Total revenue
$419,884
Total expenses
$407,753
Contributions and grants received
$417,851
Grants paid
$407,374
Program service revenue
$0
Investment income
$2,033
Other revenue
$0
Total assets, end of year
$273,629
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$273,629
Program services expenses (Part IX)
$407,753
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$407,753

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.

  • 1f · All other contributions, gifts and grants

    $417,851

  • 3 · Investment income

    total $2,033 · excluded $2,033

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $263,653 · program services $263,653

  • 2 · Grants to domestic individuals

    total $143,721 · program services $143,721

  • 24a · Other expenses: OTHER EXPENSES

    total $379 · program services $379

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $261,498 · end of year $273,629

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $261,498 · end of year $273,629

Mission and programs · 2023

Mission

THE ACCUMULATION OF AND DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE COUNTIES COMPRISING THE SERVICE TERRITORY OF FARMERS ELECTRIC COOPERATIVE, INC. THIS INCLUDES THE FOLLOWING COUNTIES IN TEXAS: DALLAS, COLLIN, ROCKWALL, HUNT, HOPKINS, KAUFMAN, RAINS, DELTA, FRANKLIN, FANNIN, VAN ZANDT AND WOOD.

Activities or mission (Part I)

THE ACCUMULATION OF AND DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE COUNTIES COMPRISING THE SERVICE TERRITORY OF FARMERS ELECTRIC COOPERATIVE.

  • IN 2023 THE FOUNDATION DONATED $263,653 TO 31 DIFFERENT CHARITABLE ORGANIZATIONS AND DONATED $143,721 TO NEEDY INDIVIDUALS TO HELP WITH THEIR UTILITY BILLS.

    Expenses $407,753 · Grants $407,374

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Martin Allain

    DIRECTOR

    Total calculated
    $26,007
    From this org
    $0
    From related orgs
    $26,007
    Other
    $0
    Hours/week
    1 + 4.1 related

  • Marvin Fuller

    DIRECTOR

    Total calculated
    $26,007
    From this org
    $0
    From related orgs
    $26,007
    Other
    $0
    Hours/week
    1 + 5.1 related

  • Tommy Pulliam

    VICE PRESIDENT

    Total calculated
    $26,993
    From this org
    $0
    From related orgs
    $26,993
    Other
    $0
    Hours/week
    1 + 4.4 related

  • Bill Samuels

    PRESIDENT

    Total calculated
    $28,229
    From this org
    $0
    From related orgs
    $28,229
    Other
    $0
    Hours/week
    1 + 6.5 related

  • Wayne Douglas

    DIRECTOR

    Total calculated
    $28,465
    From this org
    $0
    From related orgs
    $28,465
    Other
    $0
    Hours/week
    1 + 4.8 related

  • Don Phillips

    DIRECTOR

    Total calculated
    $25,873
    From this org
    $0
    From related orgs
    $25,873
    Other
    $0
    Hours/week
    1 + 3.6 related

  • Bob Middleton Jr

    TREASURER/SECRETARY

    Total calculated
    $31,142
    From this org
    $0
    From related orgs
    $31,142
    Other
    $0
    Hours/week
    1 + 6.2 related

  • Paul Tallant

    DIRECTOR

    Total calculated
    $28,479
    From this org
    $0
    From related orgs
    $28,479
    Other
    $0
    Hours/week
    1 + 4.9 related

  • Larry Lane

    DIRECTOR

    Total calculated
    $30,083
    From this org
    $0
    From related orgs
    $30,083
    Other
    $0
    Hours/week
    1 + 5.8 related

  • Mark Stubbs

    EXECUTIVE DIRECTOR

    Total calculated
    $843,342
    From this org
    $0
    From related orgs
    $662,418
    Other
    $180,924
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $577,976 related
    Bonus
    $0 + $3,950 related
    Other
    $0 + $80,492 related
    Deferred
    $0 + $150,637 related
    Nontaxable benefits
    $0 + $30,287 related
    Filer's total
    $0 + $843,342 related

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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II
ALL COMPENSATION REPORTED ON SCHEDULE J PART II IS RELATED TO MR. STUBBS' EMPLOYMENT WITH FARMERS ELECTRIC COOPERATIVE, INC. FARMERS ELECTRIC COOPERATIVE PROVIDES ALL STAFF AND ADMINISTRATIVE OVERHEAD TO FARMERS ELECTRIC CHARITABLE FOUNDATION AT NO COST. 100% OF THE PROCEEDS FROM THE OPERATION ROUND-UP PROGRAM ARE DESIGNATED TO PROVIDE CHARITABLE ASSISTANCE. THE FOUNDATION DOES NOT PAY ANY COMPENSATION TO ITS DIRECTORS.

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

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
17 October 2024
IRS schema version
2023v5.1
Source object
202423209349303427

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.