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Nonprofiteer
← CARROLL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by CARROLL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$26,209,128
Total expenses
$24,759,880
Contributions and grants received
$0
Grants paid
$6,000
Program service revenue
$26,154,657
Investment income
$51,138
Other revenue
$3,333
Total assets, end of year
$67,930,352
Total liabilities, end of year
$40,755,720
Net assets or fund balances, end of year
$27,174,632
Program services expenses (Part IX)
$24,759,880
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 $25,252,624 · related or exempt $25,252,624

  • 2b · Program service revenue: PATRONAGE CAPITAL CREDITS

    total $760,508 · related or exempt $760,508

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $141,525 · related or exempt $141,525

  • 3 · Investment income

    total $18,377 · excluded $18,377

  • 6a · Gross rents

    real property $3,333

  • 6c · Rental income or loss

    real property $3,333

  • 6d · Net rental income or loss

    total $3,333 · excluded $3,333

  • 7a · Gross sales of assets other than inventory

    other assets $77,000

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

    other assets $44,239

  • 7c · Gain or loss

    other assets $32,761

  • 7d · Net gain or loss

    total $32,761 · excluded $32,761

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000 · program services $6,000

  • 5 · Compensation of officers, directors and key employees

    total $422,398 · program services $422,398

  • 7 · Other salaries and wages

    total $18,804 · program services $18,804

  • 8 · Pension plan contributions

    total $88,530 · program services $88,530

  • 9 · Other employee benefits

    total $273,331 · program services $273,331

  • 11g · Fees: other

    total $34,448 · program services $34,448

  • 12 · Advertising and promotion

    total $695 · program services $695

  • 13 · Office expenses

    total $172,369 · program services $172,369

  • 16 · Occupancy

    total $136,781 · program services $136,781

  • 17 · Travel

    total $14,268 · program services $14,268

  • 19 · Conferences, conventions and meetings

    total $17,218 · program services $17,218

  • 20 · Interest

    total $1,525,034 · program services $1,525,034

  • 22 · Depreciation, depletion and amortization

    total $1,992,328 · program services $1,992,328

  • 24a · Other expenses: COST OF POWER

    total $13,519,413 · program services $13,519,413

  • 24b · Other expenses: DISTRIBUTION EXP-MAINT

    total $5,126,843 · program services $5,126,843

  • 24c · Other expenses: TAX EXPENSE

    total $683,536 · program services $683,536

  • 24d · Other expenses: CONSUMER SERVICE EXPENSE

    total $591,288 · program services $591,288

  • 24e · All other expenses

    total $136,596 · program services $136,596

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $255,696 · end of year $995,604

  • 4 · Accounts receivable

    beginning of year $1,758,519 · end of year $1,885,537

  • 9 · Prepaid expenses and deferred charges

    beginning of year $68,075 · end of year $72,503

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

    $71,767,056

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

    $18,633,970

  • 10c · Land, buildings and equipment, net

    beginning of year $51,679,474 · end of year $53,133,086

  • 13 · Investments: program-related

    beginning of year $11,160,972 · end of year $11,390,535

  • 15 · Other assets

    beginning of year $413,476 · end of year $453,087

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,683,328 · end of year $3,590,568

  • 19 · Deferred revenue

    beginning of year $202,457 · end of year $202,251

  • 23 · Secured mortgages and notes payable

    beginning of year $36,273,705 · end of year $36,962,901

  • 29 · Capital stock, trust principal or current funds

    beginning of year $24,486,180 · end of year $26,539,947

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,690,542 · end of year $634,685

Mission and programs · 2023

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 8,998 CUSTOMERS.

As filed on the 2023 return.

Listed in Part VII

  • Larry Fenbers

    CEO/GENERAL

    Total calculated
    $466,860
    From this org
    $328,148
    From related orgs
    $0
    Other
    $138,712
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $328,148
    Bonus
    not reported
    Other
    not reported
    Deferred
    $106,423
    Nontaxable benefits
    $32,289
    Filer's total
    $466,860

  • Deanna Smith

    MANAGER OF F

    Total calculated
    $230,775
    From this org
    $139,659
    From related orgs
    $0
    Other
    $91,116
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,659
    Bonus
    not reported
    Other
    not reported
    Deferred
    $65,840
    Nontaxable benefits
    $25,276
    Filer's total
    $230,775

  • William Meese

    MANAGER OF E

    Total calculated
    $221,132
    From this org
    $156,000
    From related orgs
    $0
    Other
    $65,132
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    $39,979
    Nontaxable benefits
    $25,153
    Filer's total
    $221,132

  • Paden Spilker

    CREW LEADER

    Total calculated
    $169,343
    From this org
    $137,181
    From related orgs
    $0
    Other
    $32,162
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $137,181
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,801
    Nontaxable benefits
    $23,361
    Filer's total
    $169,343

  • Austin Jackson

    LINEMAN

    Total calculated
    $163,209
    From this org
    $135,420
    From related orgs
    $0
    Other
    $27,789
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $135,420
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,643
    Nontaxable benefits
    $23,146
    Filer's total
    $163,209

  • Shiloh Neice

    LINE SUPERIN

    Total calculated
    $148,574
    From this org
    $116,889
    From related orgs
    $0
    Other
    $31,685
    Hours/week
    42

  • Harold Sutton

    CHAIRMAN

    Total calculated
    $14,500
    From this org
    $14,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Diane Brown

    DIRECTOR

    Total calculated
    $11,200
    From this org
    $11,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kevin Tullis

    SECRETARY/TR

    Total calculated
    $11,150
    From this org
    $11,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Vincent Carter

    DIRECTOR

    Total calculated
    $10,100
    From this org
    $10,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Robert McCort

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gary Snode

    VICE CHAIRMA

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Tim N Dayton

    DIRECTOR

    Total calculated
    $9,700
    From this org
    $9,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William T Brown

    DIRECTOR

    Total calculated
    $9,300
    From this org
    $9,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William Casper

    DIRECTOR

    Total calculated
    $8,300
    From this org
    $8,300
    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
2023
Filed
25 July 2024
IRS schema version
2023v5.0
Source object
202412409349301566

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