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Nonprofiteer
← PEMISCOT-DUNKLIN ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by PEMISCOT-DUNKLIN ELECTRIC COOPERATIVE.

Totals

Total revenue
$25,528,799
Total expenses
$22,597,877
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$22,710,625
Investment income
$36,772
Other revenue
$2,781,402
Total assets, end of year
$103,601,586
Total liabilities, end of year
$60,228,470
Net assets or fund balances, end of year
$43,373,116
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALE OF ELECTRICITY

    total $22,710,625 · related or exempt $22,710,625

  • 3 · Investment income

    total $36,772 · excluded $36,772

  • 6a · Gross rents

    real property $2,281,226

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $2,281,226

  • 6d · Net rental income or loss

    total $2,281,226 · related or exempt $148,916 · unrelated business $2,132,310

  • 11a · Other revenue: CAPITAL CREDITS

    total $1,192,199 · related or exempt $1,192,199

  • 11b · Other revenue: MISCELLANEOUS ELECTRIC

    total $210,303 · related or exempt $210,303

  • 11c · Other revenue: OTHER NONOPERTAING

    total -$902,326 · related or exempt -$902,326

  • 11e · Other revenue, total

    $500,176

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $458,475

  • 7 · Other salaries and wages

    total $1,667,727

  • 8 · Pension plan contributions

    total $931,676

  • 9 · Other employee benefits

    total $154,961

  • 10 · Payroll taxes

    total $130,769

  • 11b · Fees: legal

    total $49,527

  • 11c · Fees: accounting

    total $24,752

  • 11g · Fees: other

    total $99,054

  • 12 · Advertising and promotion

    total $32,540

  • 13 · Office expenses

    total $335,375

  • 16 · Occupancy

    total $430,401

  • 19 · Conferences, conventions and meetings

    total $20,106

  • 20 · Interest

    total $2,498,885

  • 22 · Depreciation, depletion and amortization

    total $3,190,761

  • 24a · Other expenses: PURCHASED POWER

    total $10,797,540

  • 24b · Other expenses: DISTRIBUTION

    total $1,074,491

  • 24c · Other expenses: ADMIN & GENERAL

    total $441,490

  • 24d · Other expenses: MEMBER SERVICES

    total $259,347

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $853,475 · end of year $720,298

  • 4 · Accounts receivable

    beginning of year $9,693,678 · end of year $2,521,231

  • 8 · Inventories for sale or use

    beginning of year $2,242,948 · end of year $2,806,483

  • 9 · Prepaid expenses and deferred charges

    beginning of year $126,478 · end of year $4,112

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

    $110,589,169

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

    $25,752,321

  • 10c · Land, buildings and equipment, net

    beginning of year $80,119,910 · end of year $84,836,848

  • 13 · Investments: program-related

    beginning of year $6,793,617 · end of year $12,345,324

  • 14 · Intangible assets

    end of year $81,920

  • 15 · Other assets

    beginning of year $0 · end of year $285,370

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,676,949 · end of year $3,999,583

  • 19 · Deferred revenue

    end of year $66,091

  • 23 · Secured mortgages and notes payable

    beginning of year $55,292,602 · end of year $55,030,267

  • 25 · Other liabilities

    beginning of year $418,360 · end of year $1,132,529

  • 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 $40,442,195 · end of year $43,373,116

Mission and programs · 2023

Mission

DISTRIBUTION OF ELECTRICAL SERVICES TO ITS MEMBER OWNERS ON A PATRONAGE BASIS.

Activities or mission (Part I)

DISTRIBUTION OF ELECTRIC SERVICES TO ITS MEMBERS.

  • THE COOPERATIVE PROVIDES ELECTRICAL SERVICES TO AN AVERAGE OF 8,602 RESIDENTIAL FARM, AND BUSINESS CONSUMERS IN THE PEMISCOT, DUNKLIN, AND NEW MADRID COUNTIES IN SOUTHEAST MISSOURI.

As filed on the 2023 return.

Listed in Part VII

  • Justin Rone

    PRESIDENT

    Total calculated
    $8,500
    From this org
    $8,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bill Cunningham

    SECRETARY/TREASURER

    Total calculated
    $25,323
    From this org
    $25,323
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Billy Keith Jones

    VICE PRESIDENT

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ray Van Carver

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Stephen Droke

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Greg Gibson

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Danny Glass

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Greg Harris

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steven Worrell

    DIRECTOR

    Total calculated
    $20,823
    From this org
    $20,823
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jamie Vaughn

    GENERAL MANAGER

    Total calculated
    $239,482
    From this org
    $152,521
    From related orgs
    $0
    Other
    $86,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,521
    Bonus
    $0
    Other
    $0
    Deferred
    $63,662
    Nontaxable benefits
    $23,299
    Filer's total
    $239,482

  • Cheryl Hicks

    CFO

    Total calculated
    $142,833
    From this org
    $101,308
    From related orgs
    $0
    Other
    $41,525
    Hours/week
    40

  • Jack Davis

    FIBER GENERAL MANAGER

    Total calculated
    $203,929
    From this org
    $142,428
    From related orgs
    $0
    Other
    $61,501
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,428
    Bonus
    $0
    Other
    $0
    Deferred
    $44,057
    Nontaxable benefits
    $17,444
    Filer's total
    $203,929

  • Josh Cunningham

    LINEMAN

    Total calculated
    $150,700
    From this org
    $113,880
    From related orgs
    $0
    Other
    $36,820
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,880
    Bonus
    $0
    Other
    $0
    Deferred
    $13,521
    Nontaxable benefits
    $23,299
    Filer's total
    $150,700

  • Rusty Moore

    LINE SUPERVISOR

    Total calculated
    $180,187
    From this org
    $116,590
    From related orgs
    $0
    Other
    $63,597
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,590
    Bonus
    $0
    Other
    $0
    Deferred
    $40,298
    Nontaxable benefits
    $23,299
    Filer's total
    $180,187

  • Dylan Sams

    LINEMAN

    Total calculated
    $137,157
    From this org
    $109,601
    From related orgs
    $0
    Other
    $27,556
    Hours/week
    40

  • Rex McElwrath

    LINE SUPERVISOR

    Total calculated
    $153,600
    From this org
    $119,330
    From related orgs
    $0
    Other
    $34,270
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,330
    Bonus
    $0
    Other
    $0
    Deferred
    $10,971
    Nontaxable benefits
    $23,299
    Filer's total
    $153,600

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.

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.

  • PD FIBER LLC

    C · INTERNET · MO · 100% owned · share of income -$470,505 · share of assets $3,099,410 · controlled entity

    Directly controlled by PDEC

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202413139349302741

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