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Nonprofiteer
← PROGRESSIVE RURAL TELEPHONE COOP INC

Form 990 for tax year 2023

Filed by PROGRESSIVE RURAL TELEPHONE COOP INC.

Totals

Total revenue
$13,053,665
Total expenses
$9,503,117
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,020,568
Investment income
$87,374
Other revenue
$945,723
Total assets, end of year
$38,393,058
Total liabilities, end of year
$7,658,436
Net assets or fund balances, end of year
$30,734,622
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$9,503,117

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: UNREGULATED REVENUES

    total $5,555,591 · related or exempt $5,555,591

  • 2b · Program service revenue: NETWORK ACCESS SERVICE

    total $5,533,511 · related or exempt $5,533,511

  • 2c · Program service revenue: LOCAL NETWORK SERVICES

    total $917,535 · related or exempt $917,535

  • 2d · Program service revenue: CARRIER BILLING & COLLECTION REV

    total $13,931 · related or exempt $13,931

  • 3 · Investment income

    total $87,374 · excluded $87,374

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $945,723 · related or exempt $945,723

  • 11e · Other revenue, total

    $945,723

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $299,011

  • 11b · Fees: legal

    total $26,610

  • 11c · Fees: accounting

    total $55,792

  • 17 · Travel

    total $51,673

  • 19 · Conferences, conventions and meetings

    total $25,259

  • 20 · Interest

    total $110,065

  • 22 · Depreciation, depletion and amortization

    total $1,932,151

  • 23 · Insurance

    total $19,765

  • 24a · Other expenses: NONREGULATED EXPENSE

    total $2,730,162

  • 24b · Other expenses: PLANT SPECIFIC OPERATIO

    total $1,541,856

  • 24c · Other expenses: CORPORATE OPERATIONS

    total $1,228,622

  • 24d · Other expenses: CUSTOMER OPERATIONS

    total $752,127

  • 24e · All other expenses

    total $730,024

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,799,965 · end of year $6,181,760

  • 2 · Savings and temporary cash investments

    beginning of year $120,116 · end of year $873,628

  • 4 · Accounts receivable

    beginning of year $3,476,149 · end of year $5,344,336

  • 8 · Inventories for sale or use

    beginning of year $691,282 · end of year $530,553

  • 9 · Prepaid expenses and deferred charges

    beginning of year $157,092 · end of year $268,278

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

    $55,364,607

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

    $35,921,449

  • 10c · Land, buildings and equipment, net

    beginning of year $19,933,325 · end of year $19,443,158

  • 13 · Investments: program-related

    beginning of year $1,000

  • 15 · Other assets

    beginning of year $5,006,291 · end of year $5,751,345

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,074,702 · end of year $1,234,534

  • 19 · Deferred revenue

    beginning of year $564,069 · end of year $571,559

  • 23 · Secured mortgages and notes payable

    beginning of year $2,790,350 · end of year $2,616,567

  • 25 · Other liabilities

    beginning of year $3,631,851 · end of year $3,235,776

  • 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 $25,019 · end of year $23,229

  • 31 · Retained earnings, endowment or other funds

    beginning of year $27,099,229 · end of year $30,711,393

Mission and programs · 2023

Mission

Our mission is to be our Members' total communications provider by providing quality services at the best prices.

  • The Cooperative provides telecommunications services to its member subscribers in a five county, 500 square mile, unserved, primarily rural area in southeast Georgia. The Cooperative is a rural telephone cooperative that qualifies under IRC Section 501(c)(12) that has at least 85% of its gross income consisting of amounts collected from Members for the sole purpose of meeting losses and expenses.

    Expenses $9,503,117 · Revenue $12,966,291

As filed on the 2023 return.

Listed in Part VII

  • Larry Sanders

    DIRECTOR

    Total calculated
    $30,062
    From this org
    $19,212
    From related orgs
    $10,850
    Other
    $0
    Hours/week
    2

  • Kennon Smith

    DIRECTOR

    Total calculated
    $26,412
    From this org
    $19,212
    From related orgs
    $7,200
    Other
    $0
    Hours/week
    2

  • Shirley Willis

    DIRECTOR

    Total calculated
    $26,412
    From this org
    $19,212
    From related orgs
    $7,200
    Other
    $0
    Hours/week
    2

  • Jimmy D Holland

    DIRECTOR

    Total calculated
    $17,608
    From this org
    $12,808
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    2

  • Larry A Windham

    DIRECTOR

    Total calculated
    $26,376
    From this org
    $19,176
    From related orgs
    $7,200
    Other
    $0
    Hours/week
    2

  • Emory Anderson

    DIRECTOR

    Total calculated
    $26,376
    From this org
    $19,176
    From related orgs
    $7,200
    Other
    $0
    Hours/week
    2

  • Douglas T Ward

    DIRECTOR

    Total calculated
    $26,376
    From this org
    $19,176
    From related orgs
    $7,200
    Other
    $0
    Hours/week
    1

  • Dan Rowe

    DIRECTOR

    Total calculated
    $26,376
    From this org
    $19,176
    From related orgs
    $7,200
    Other
    $0
    Hours/week
    2

  • Ronald L Chambers

    GENERAL MANAGER

    Total calculated
    $151,863
    From this org
    $151,863
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,863
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $151,863

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.

  • PROGRESSIVE HOLDING CO

    C · TELECOMMUNICATIONS RELATED INVESTMENTS AND SERVICES · GA · 100% owned

Provenance

Return type
form_990
Tax year
2023
Filed
27 November 2024
IRS schema version
2023v5.1
Source object
202403329349301500

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