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Nonprofiteer
← JASPER-NEWTON ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by JASPER-NEWTON ELECTRIC COOPERATIVE.

Totals

Total revenue
$65,226,638
Total expenses
$65,226,638
Contributions and grants received
$0
Grants paid
$1,685
Program service revenue
$65,114,603
Investment income
$68,520
Other revenue
$43,515
Total assets, end of year
$155,982,953
Total liabilities, end of year
$80,830,935
Net assets or fund balances, end of year
$75,152,018
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: SALES OF ELECTRICITY

    total $61,659,281 · related or exempt $61,659,281

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $1,495,853 · related or exempt $1,495,853

  • 2c · Program service revenue: TRANSMISSION LEASE

    total $1,168,950 · related or exempt $1,168,950

  • 2d · Program service revenue: SERVICE FEES

    total $790,519 · related or exempt $790,519

  • 3 · Investment income

    total $68,520 · excluded $68,520

  • 10a · Gross sales of inventory

    $96,491

  • 10b · Cost of goods sold

    $86,359

  • 10c · Net income from sales of inventory

    total $10,132 · related or exempt $10,132

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $33,383 · excluded $33,383

  • 11e · Other revenue, total

    $33,383

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,685

  • 4 · Benefits paid to or for members

    total $1,665,373

  • 5 · Compensation of officers, directors and key employees

    total $653,502

  • 7 · Other salaries and wages

    total $5,413,200

  • 8 · Pension plan contributions

    total $1,378,204

  • 9 · Other employee benefits

    total $1,589,254

  • 10 · Payroll taxes

    total $413,084

  • 20 · Interest

    total $2,321,060

  • 22 · Depreciation, depletion and amortization

    total $4,910,511

  • 24a · Other expenses: PURCHASED POWER

    total $41,958,934

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $2,298,904

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $1,361,790

  • 24d · Other expenses: CONSUMER EXPENSE

    total $811,762

  • 24e · All other expenses

    total $449,375

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $787,512 · end of year $1,793,974

  • 2 · Savings and temporary cash investments

    beginning of year $943,170 · end of year $155,397

  • 4 · Accounts receivable

    beginning of year $2,493,272 · end of year $2,671,629

  • 8 · Inventories for sale or use

    beginning of year $1,008,670 · end of year $1,264,822

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,834,674 · end of year $3,079,181

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

    $178,308,471

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

    $63,929,632

  • 10c · Land, buildings and equipment, net

    beginning of year $120,507,217 · end of year $114,378,839

  • 13 · Investments: program-related

    beginning of year $26,647,367 · end of year $27,812,811

  • 15 · Other assets

    beginning of year $2,741,588 · end of year $4,826,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,640,282 · end of year $9,573,346

  • 21 · Escrow or custodial account liability

    beginning of year $114,905 · end of year $102,375

  • 23 · Secured mortgages and notes payable

    beginning of year $67,960,104 · end of year $62,453,974

  • 25 · Other liabilities

    beginning of year $9,868,411 · end of year $8,701,240

  • 29 · Capital stock, trust principal or current funds

    beginning of year $350,635 · end of year $352,800

  • 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 $73,029,133 · end of year $74,799,218

Mission and programs · 2022

Mission

NONE

Activities or mission (Part I)

TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 23,630 ACTIVE SERVICES AT YEAR END.

As filed on the 2022 return.

Listed in Part VII

  • Henry Biscamp

    PRESIDENT

    Total calculated
    $10,001
    From this org
    $10,001
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Patrick Brown

    DIRECTOR

    Total calculated
    $14,001
    From this org
    $14,001
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • Tracey Reagan Clotiaux

    SECRETARY/TREASURER (JAN-AUG)

    Total calculated
    $6,134
    From this org
    $6,134
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • David Jones

    DIRECTOR

    Total calculated
    $20,801
    From this org
    $20,801
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Dennis Muldrow

    DIRECTOR

    Total calculated
    $22,291
    From this org
    $22,291
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Mack Rose

    VICE PRESIDENT

    Total calculated
    $15,601
    From this org
    $15,601
    From related orgs
    $0
    Other
    $0
    Hours/week
    30.4

  • Gary Satterwhite

    DIRECTOR

    Total calculated
    $12,001
    From this org
    $12,001
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.7

  • Paul Simmons

    DIRECTOR

    Total calculated
    $9,601
    From this org
    $9,601
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.1

  • James Smith

    DIRECTOR

    Total calculated
    $12,001
    From this org
    $12,001
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mark Tamplin

    GENERAL MANAGER

    Total calculated
    $361,847
    From this org
    $222,800
    From related orgs
    $0
    Other
    $139,047
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $215,579
    Bonus
    $225
    Other
    $6,996
    Deferred
    $127,065
    Nontaxable benefits
    $11,982
    Filer's total
    $361,847

  • Shelley Powell

    DIRECTOR OF FINANCE

    Total calculated
    $169,223
    From this org
    $120,855
    From related orgs
    $0
    Other
    $48,368
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,780
    Bonus
    $75
    Other
    $0
    Deferred
    $48,170
    Nontaxable benefits
    $198
    Filer's total
    $169,223

  • Kevin Alex Stark

    ENERGY AUDITOR

    Total calculated
    $178,864
    From this org
    $136,087
    From related orgs
    $0
    Other
    $42,777
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $133,688
    Bonus
    $0
    Other
    $2,399
    Deferred
    $18,774
    Nontaxable benefits
    $24,003
    Filer's total
    $178,864

  • Aaron Crawford

    ASST. MANAGER OF OPERATIONS

    Total calculated
    $176,362
    From this org
    $117,743
    From related orgs
    $0
    Other
    $58,619
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,743
    Bonus
    $0
    Other
    $0
    Deferred
    $34,892
    Nontaxable benefits
    $23,727
    Filer's total
    $176,362

  • Brandon Wellman

    SERVICEMAN

    Total calculated
    $153,745
    From this org
    $115,915
    From related orgs
    $0
    Other
    $37,830
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $115,915
    Bonus
    $0
    Other
    $0
    Deferred
    $14,103
    Nontaxable benefits
    $23,727
    Filer's total
    $153,745

  • John Hardcastle

    1ST CLASS LINEMAN

    Total calculated
    $158,920
    From this org
    $115,415
    From related orgs
    $0
    Other
    $43,505
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $115,415
    Bonus
    $0
    Other
    $0
    Deferred
    $19,502
    Nontaxable benefits
    $24,003
    Filer's total
    $158,920

  • Dennis Joey Davis

    ASST. MANAGER ADMIN

    Total calculated
    $181,952
    From this org
    $113,608
    From related orgs
    $0
    Other
    $68,344
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,960
    Bonus
    $200
    Other
    $3,448
    Deferred
    $44,419
    Nontaxable benefits
    $23,925
    Filer's total
    $181,952

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 · 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

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. MARK TAMPLIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 116,889 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,176 TOTAL REPORTED IN COLUMN C $ 127,065 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (116,889) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 50,558 EXPENSE TO THE COOPERATIVE $ 60,734 DENNIS JOEY DAVIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,009 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,410 TOTAL REPORTED IN COLUMN C $ 44,419 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,009) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,088 EXPENSE TO THE COOPERATIVE $ 30,498 KEVIN ALEX STARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 12,368 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,406 TOTAL REPORTED IN COLUMN C $ 18,774 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (12,368) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,209 EXPENSE TO THE COOPERATIVE $ 25,615 AARON CRAWFORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,298 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,594 TOTAL REPORTED IN COLUMN C $ 34,892 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,298) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,061 EXPENSE TO THE COOPERATIVE $ 32,655 SHELLEY POWELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,735 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,435 TOTAL REPORTED IN COLUMN C $ 48,170 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,735) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,564 EXPENSE TO THE COOPERATIVE $ 33,999 JOHN HARDCASTLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,026 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,476 TOTAL REPORTED IN COLUMN C $ 19,502 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,026) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,006 EXPENSE TO THE COOPERATIVE $ 24,482 BRANDON WELLMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,613 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,490 TOTAL REPORTED IN COLUMN C $ 14,103 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (8,613) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,209 EXPENSE TO THE COOPERATIVE $ 24,699

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.

  • JASPER-NEWTON RURAL DEVELOPMENT INC

    C · SELL/MONITOR ALARMS AND SECURITY SYSTEMS · TX · 100% owned · share of assets $12,630 · controlled entity

    Directly controlled by JASPER-NEWTON ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202303069349303060

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