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Nonprofiteer
← OZARK BORDER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by OZARK BORDER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$30,789,906
Total expenses
$30,236,513
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$228,627
Other revenue
$30,561,279
Total assets, end of year
$259,148,554
Total liabilities, end of year
$157,966,643
Net assets or fund balances, end of year
$101,181,911
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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.

  • 3 · Investment income

    total $228,627 · related or exempt $228,627

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 10a · Gross sales of inventory

    $74,999,971

  • 10b · Cost of goods sold

    $44,438,692

  • 10c · Net income from sales of inventory

    total $30,561,279 · related or exempt $30,321,987 · unrelated business $0 · excluded $239,292

  • 11e · Other revenue, total

    $0

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 $0

  • 5 · Compensation of officers, directors and key employees

    total $766,239

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $7,614,313

  • 8 · Pension plan contributions

    total $1,117,894

  • 9 · Other employee benefits

    total $1,875,831

  • 10 · Payroll taxes

    total $606,100

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $29,853

  • 11c · Fees: accounting

    total $20,746

  • 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 $657,248

  • 14 · Information technology

    total $288,706

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $381,027

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $8,695

  • 20 · Interest

    total $4,606,470

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $7,496,481

  • 23 · Insurance

    total $208,044

  • 24a · Other expenses: Taxes other than payroll

    total $1,925,892

  • 24b · Other expenses: Maintenance and Other Expenses

    total $2,632,974

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,031,139 · end of year $1,563,455

  • 2 · Savings and temporary cash investments

    beginning of year $6,540,437 · end of year $7,639,765

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $7,626,379 · end of year $7,287,265

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $4,085,268 · end of year $5,072,846

  • 9 · Prepaid expenses and deferred charges

    beginning of year $164,610 · end of year $168,000

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

    $272,707,465

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

    $83,436,685

  • 10c · Land, buildings and equipment, net

    beginning of year $183,975,607 · end of year $189,270,780

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $48,096,403 · end of year $48,110,958

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $68,808 · end of year $35,485

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,523,111 · end of year $17,849,698

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $133,422,842 · end of year $140,116,945

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $731,600 · end of year $716,349

  • 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 $99,911,098 · end of year $100,465,562

Mission and programs · 2022

Mission

TO PROVIDE RELIABLE ELECTRIC SERVICE TO ITS MEMBERS AT THE LOWEST PRICE ECONOMICALLY FEASIBLE.

Activities or mission (Part I)

MAINTAIN HIGH LEVELS OF MEMBER SATISFACTION BY PROVIDING POWER IN A SAFE, RELIABLE AND ECONOMICALLY FEASIBLE MANNER.

  • THE COOPERATIVE HAS NO EXPENSES WHICH CONSTITUTE PROGRAM SERVICE EXPENSES.

  • THE COOPERATIVE HAS NO EXPENSES WHICH CONSTITUTE PROGRAM SERVICE EXPENSES.

  • THE COOPERATIVE HAS NO EXPENSES WHICH CONSTITUTE PROGRAM SERVICE EXPENSES.

As filed on the 2022 return.

Listed in Part VII

  • David Schremp

    GENERAL MANAGER

    Total calculated
    $251,272
    From this org
    $197,965
    From related orgs
    $0
    Other
    $53,307
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,965
    Bonus
    $0
    Other
    $0
    Deferred
    $33,472
    Nontaxable benefits
    $19,835
    Filer's total
    $251,272

  • John Walker

    ENGINEERING MANAGER

    Total calculated
    $161,833
    From this org
    $119,263
    From related orgs
    $0
    Other
    $42,570
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,263
    Bonus
    $0
    Other
    $0
    Deferred
    $21,448
    Nontaxable benefits
    $21,122
    Filer's total
    $161,833

  • Hollye Abner

    MANAGER - FINANCE & ACCOUNTING

    Total calculated
    $159,064
    From this org
    $118,274
    From related orgs
    $0
    Other
    $40,790
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,274
    Bonus
    $0
    Other
    $0
    Deferred
    $20,955
    Nontaxable benefits
    $19,835
    Filer's total
    $159,064

  • Jason Sisk

    JOURNEYMAN LINEMAN

    Total calculated
    $132,446
    From this org
    $117,574
    From related orgs
    $0
    Other
    $14,872
    Hours/week
    48.13

  • Dustin Prater

    CREW FOREMAN

    Total calculated
    $132,406
    From this org
    $116,851
    From related orgs
    $0
    Other
    $15,555
    Hours/week
    47.26

  • Randy Hager

    SERVICE FORMAN

    Total calculated
    $131,360
    From this org
    $116,301
    From related orgs
    $0
    Other
    $15,059
    Hours/week
    46.88

  • Corbin Inman

    CREW FOREMAN

    Total calculated
    $130,684
    From this org
    $115,129
    From related orgs
    $0
    Other
    $15,555
    Hours/week
    46.13

  • Franklin Atchison

    BOARD PRESIDENT

    Total calculated
    $22,000
    From this org
    $22,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.05

  • Bill Hager

    BOARD MEMBER

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.89

  • Gary Melton

    BOARD MEMBER

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.89

  • Curtis Clark

    BOARD MEMBER

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.73

  • Greg Lintz

    BOARD MEMBER

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.73

  • Bill Crawford

    BOARD MEMBER

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.41

  • Judy Lunsford

    BOARD VICE PRESIDENT

    Total calculated
    $19,000
    From this org
    $19,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.09

  • James Chad Parker

    BOARD MEMBER

    Total calculated
    $19,000
    From this org
    $19,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.09

  • Jim Hover

    BOARD MEMBER

    Total calculated
    $17,500
    From this org
    $17,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.61

  • Dewayne Ligons

    BOARD SECRETARY/TREASURER

    Total calculated
    $17,000
    From this org
    $17,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.45

  • Jordan Collins

    BOARD MEMBER

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.33

  • Charles Bunting

    BOARD MEMBER

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.33

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 · Form 990 of other organizations
  • 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
27 March 2023
IRS schema version
2022v5.0
Source object
202310869349301226

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