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Nonprofiteer
← AIKEN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by AIKEN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$145,685,592
Total expenses
$147,836,297
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$143,534,245
Investment income
$4,289,491
Other revenue
-$2,138,144
Total assets, end of year
$580,547,772
Total liabilities, end of year
$444,881,281
Net assets or fund balances, end of year
$135,666,491
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 $135,651,112 · related or exempt $135,651,112

  • 2b · Program service revenue: POLE RENTAL

    total $5,180,533 · excluded $5,180,533

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $2,702,600 · related or exempt $2,702,600

  • 3 · Investment income

    total $4,289,491 · excluded $4,289,491

  • 11a · Other revenue: MISC. NON-OPERATING

    total $12,558 · related or exempt $12,558

  • 11b · Other revenue: EQUITY IN EARNINGS OF AECONNE

    total -$2,150,702 · excluded -$2,150,702

  • 11e · Other revenue, total

    -$2,138,144

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,816,009

  • 5 · Compensation of officers, directors and key employees

    total $915,490

  • 6 · Compensation of disqualified persons

    total $25,029

  • 20 · Interest

    total $16,226,367

  • 22 · Depreciation, depletion and amortization

    total $14,464,463

  • 24a · Other expenses: PURCHASED POWER

    total $81,414,117

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $8,538,920

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $8,491,428

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

    total $6,458,969

  • 24e · All other expenses

    total $5,485,505

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,489,683 · end of year $1,875,015

  • 4 · Accounts receivable

    beginning of year $13,814,233 · end of year $17,381,237

  • 8 · Inventories for sale or use

    beginning of year $32,868,926 · end of year $16,903,162

  • 9 · Prepaid expenses and deferred charges

    beginning of year $767,711 · end of year $772,659

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

    $580,216,209

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

    $120,812,729

  • 10c · Land, buildings and equipment, net

    beginning of year $373,285,916 · end of year $459,403,480

  • 13 · Investments: program-related

    beginning of year $59,620,008 · end of year $67,461,737

  • 15 · Other assets

    beginning of year $11,844,883 · end of year $16,750,482

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,657,392 · end of year $20,673,564

  • 23 · Secured mortgages and notes payable

    beginning of year $343,426,670 · end of year $417,902,949

  • 25 · Other liabilities

    beginning of year $5,608,338 · end of year $6,304,768

  • 29 · Capital stock, trust principal or current funds

    beginning of year $395,464 · end of year $403,783

  • 31 · Retained earnings, endowment or other funds

    beginning of year $124,603,496 · end of year $135,262,708

Mission and programs · 2024

Mission

AIKEN ELECTRIC COOPERATIVE, INC. WILL STRIVE TO PROVIDE RELIABLE, COMPETITIVELY PRICED ENERGY AND OTHER SERVICES THAT ARE DESIRED BY THE MEMBERSHIP.

  • N/A

As filed on the 2024 return.

Listed in Part VII

  • J Strom Thurmond Jr

    PRESIDENT

    Total calculated
    $22,620
    From this org
    $20,620
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    4.25 + 1 related

  • Robert Curry

    VICE PRESIDE

    Total calculated
    $33,714
    From this org
    $31,714
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    7.87 + 1 related

  • Linda Bramlett

    SECRETARY/TR

    Total calculated
    $17,384
    From this org
    $15,384
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    7.94 + 1 related

  • Charles Sanders Jr

    ASSISTANT SE

    Total calculated
    $24,977
    From this org
    $22,977
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    5.31 + 1 related

  • O Frank Dorn

    TRUSTEE

    Total calculated
    $42,670
    From this org
    $40,670
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    9.13 + 1 related

  • Vincent Furtick Jr

    TRUSTEE

    Total calculated
    $55,739
    From this org
    $54,239
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    5.06 + 1 related

  • Dana Moseley

    TRUSTEE

    Total calculated
    $43,102
    From this org
    $41,102
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    9.65 + 1 related

  • James E Stewart Jr

    TRUSTEE

    Total calculated
    $30,697
    From this org
    $28,697
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    5.78 + 1 related

  • Scott Riddle

    TRUSTEE

    Total calculated
    $51,807
    From this org
    $48,207
    From related orgs
    $3,600
    Other
    $0
    Hours/week
    5.19 + 1 related

  • Adam L Livingston

    TRUSTEE

    Total calculated
    $19,336
    From this org
    $17,336
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    4.55 + 1 related

  • Theo R Williams

    FORMER TRUST

    Total calculated
    $12,218
    From this org
    $12,218
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $12,218
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,218

  • Wayne Furtick

    FORMER TRUST

    Total calculated
    $12,811
    From this org
    $12,811
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $12,811
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,811

  • Gary L Stooksbury

    CEO

    Total calculated
    $594,544
    From this org
    $450,243
    From related orgs
    $0
    Other
    $144,301
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $419,589
    Bonus
    $2,800
    Other
    $27,854
    Deferred
    $118,700
    Nontaxable benefits
    $25,601
    Filer's total
    $594,544

  • Dan Garman

    VP ENGINEERI

    Total calculated
    $455,088
    From this org
    $281,837
    From related orgs
    $0
    Other
    $173,251
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $225,370
    Bonus
    $34,832
    Other
    $21,635
    Deferred
    $147,650
    Nontaxable benefits
    $25,601
    Filer's total
    $455,088

  • William Inman

    VP STRATEGIC

    Total calculated
    $318,331
    From this org
    $226,768
    From related orgs
    $0
    Other
    $91,563
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $187,422
    Bonus
    $18,897
    Other
    $20,449
    Deferred
    $65,962
    Nontaxable benefits
    $25,601
    Filer's total
    $318,331

  • Casey Grice

    CREW CHIEF

    Total calculated
    $215,972
    From this org
    $180,677
    From related orgs
    $0
    Other
    $35,295
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $177,106
    Bonus
    $3,100
    Other
    $471
    Deferred
    $35,295
    Nontaxable benefits
    not reported
    Filer's total
    $215,972

  • April Collins

    VP FINANCE A

    Total calculated
    $288,230
    From this org
    $196,421
    From related orgs
    $0
    Other
    $91,809
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,699
    Bonus
    $22,863
    Other
    $859
    Deferred
    $66,208
    Nontaxable benefits
    $25,601
    Filer's total
    $288,230

  • Laurie Glenn

    VP HUMAN RES

    Total calculated
    $302,067
    From this org
    $183,215
    From related orgs
    $0
    Other
    $118,852
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,241
    Bonus
    $25,352
    Other
    $1,622
    Deferred
    $108,031
    Nontaxable benefits
    $10,821
    Filer's total
    $302,067

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 committee
  • 3 · Independent compensation consultant
  • 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.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • AECONNECT INC

    BROADBAND · SC · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.0
Source object
202503169349302765

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