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Nonprofiteer
← CARROLL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by CARROLL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$25,547,711
Total expenses
$24,168,400
Contributions and grants received
$0
Grants paid
$8,000
Program service revenue
$25,526,346
Investment income
$16,807
Other revenue
$4,558
Total assets, end of year
$65,336,212
Total liabilities, end of year
$39,159,490
Net assets or fund balances, end of year
$26,176,722
Program services expenses (Part IX)
$24,168,400
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: SALE OF ELECTRIC SERV

    total $24,741,120 · related or exempt $24,741,120

  • 2b · Program service revenue: PATRONAGE CAPITAL CREDITS

    total $683,129 · related or exempt $683,129

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $102,097 · related or exempt $102,097

  • 3 · Investment income

    total $18,457 · excluded $18,457

  • 6a · Gross rents

    real property $4,558

  • 6c · Rental income or loss

    real property $4,558

  • 6d · Net rental income or loss

    total $4,558 · excluded $4,558

  • 7a · Gross sales of assets other than inventory

    other assets $850

  • 7b · Less cost or other basis and sales expenses

    other assets $2,500

  • 7c · Gain or loss

    other assets -$1,650

  • 7d · Net gain or loss

    total -$1,650 · excluded -$1,650

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $8,000 · program services $8,000

  • 5 · Compensation of officers, directors and key employees

    total $389,057 · program services $389,057

  • 8 · Pension plan contributions

    total $82,606 · program services $82,606

  • 9 · Other employee benefits

    total $277,447 · program services $277,447

  • 11g · Fees: other

    total $25,559 · program services $25,559

  • 12 · Advertising and promotion

    total $758 · program services $758

  • 13 · Office expenses

    total $210,276 · program services $210,276

  • 16 · Occupancy

    total $125,524 · program services $125,524

  • 17 · Travel

    total $30,154 · program services $30,154

  • 19 · Conferences, conventions and meetings

    total $14,224 · program services $14,224

  • 20 · Interest

    total $1,416,206 · program services $1,416,206

  • 22 · Depreciation, depletion and amortization

    total $1,932,764 · program services $1,932,764

  • 24a · Other expenses: COST OF POWER

    total $13,937,878 · program services $13,937,878

  • 24b · Other expenses: DISTRIBUTION EXP-MAINT

    total $4,107,837 · program services $4,107,837

  • 24c · Other expenses: CONSUMER SERVICE EXPENSE

    total $726,730 · program services $726,730

  • 24d · Other expenses: TAX EXPENSE

    total $716,044 · program services $716,044

  • 24e · All other expenses

    total $167,336 · program services $167,336

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $68,543 · end of year $255,696

  • 4 · Accounts receivable

    beginning of year $1,548,088 · end of year $1,758,519

  • 9 · Prepaid expenses and deferred charges

    beginning of year $116,511 · end of year $68,075

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

    $70,118,364

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

    $18,438,890

  • 10c · Land, buildings and equipment, net

    beginning of year $50,139,902 · end of year $51,679,474

  • 13 · Investments: program-related

    beginning of year $11,207,944 · end of year $11,160,972

  • 15 · Other assets

    beginning of year $301,250 · end of year $413,476

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,597,347 · end of year $2,683,328

  • 19 · Deferred revenue

    beginning of year $201,586 · end of year $202,457

  • 23 · Secured mortgages and notes payable

    beginning of year $35,235,774 · end of year $36,273,705

  • 29 · Capital stock, trust principal or current funds

    beginning of year $23,779,930 · end of year $24,486,180

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,567,601 · end of year $1,690,542

Mission and programs · 2022

Mission

CARROLL ELECTRIC COOPERATIVE INC PROVIDES ELECTRICITY TO ITS MEMBERS.

  • CARROLL ELECTRIC COOPERATIVE (CEC) HAS BEEN COMMITTED TO PROVIDING RELIABLE ELECTRIC SERVICE TO CARROLL, COLUMBIANA, HARRISON, JEFFERSON, TUSCARAWAS AND STARK COUNTIES. CEC PROVIDES ELECTRICAL SERVICE TO NEARLY 8,978 CUSTOMERS.

As filed on the 2022 return.

Listed in Part VII

  • Larry Fenbers

    CEO/GENERAL

    Total calculated
    $451,126
    From this org
    $293,954
    From related orgs
    $0
    Other
    $157,172
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $293,954
    Bonus
    not reported
    Other
    not reported
    Deferred
    $127,364
    Nontaxable benefits
    $29,808
    Filer's total
    $451,126

  • Deanna Smith

    MANAGER OF F

    Total calculated
    $231,743
    From this org
    $128,979
    From related orgs
    $0
    Other
    $102,764
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,979
    Bonus
    not reported
    Other
    not reported
    Deferred
    $79,468
    Nontaxable benefits
    $23,296
    Filer's total
    $231,743

  • William Meese

    MANAGER OF E

    Total calculated
    $223,346
    From this org
    $142,613
    From related orgs
    $0
    Other
    $80,733
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,613
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,465
    Nontaxable benefits
    $23,268
    Filer's total
    $223,346

  • Paden Spilker

    CREW LEADER

    Total calculated
    $193,110
    From this org
    $153,581
    From related orgs
    $0
    Other
    $39,529
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $153,581
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,937
    Nontaxable benefits
    $21,592
    Filer's total
    $193,110

  • Vincent Cunningham

    LINEMAN

    Total calculated
    $159,102
    From this org
    $114,757
    From related orgs
    $0
    Other
    $44,345
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $114,757
    Bonus
    not reported
    Other
    not reported
    Deferred
    $22,839
    Nontaxable benefits
    $21,506
    Filer's total
    $159,102

  • Austin Jackson

    LINEMAN

    Total calculated
    $139,421
    From this org
    $109,307
    From related orgs
    $0
    Other
    $30,114
    Hours/week
    49

  • Harold Sutton

    CHAIRMAN

    Total calculated
    $13,628
    From this org
    $13,628
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Robert McCort

    DIRECTOR

    Total calculated
    $11,850
    From this org
    $11,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gary Snode

    VICE CHAIRMA

    Total calculated
    $11,600
    From this org
    $11,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Diane Brown

    DIRECTOR

    Total calculated
    $11,250
    From this org
    $11,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kevin Tullis

    SECRETARY/TR

    Total calculated
    $10,750
    From this org
    $10,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Tim N Dayton

    DIRECTOR

    Total calculated
    $9,925
    From this org
    $9,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William T Brown

    DIRECTOR

    Total calculated
    $9,150
    From this org
    $9,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Vincent Carter

    DIRECTOR

    Total calculated
    $9,050
    From this org
    $9,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William Casper

    DIRECTOR

    Total calculated
    $7,900
    From this org
    $7,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
25 May 2023
IRS schema version
2022v5.0
Source object
202331459349300248

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