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Nonprofiteer
← ARAB ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by ARAB ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$44,060,230
Total expenses
$44,060,230
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$42,260,776
Investment income
$726,351
Other revenue
$1,073,103
Total assets, end of year
$67,979,925
Total liabilities, end of year
$17,787,422
Net assets or fund balances, end of year
$50,192,503
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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Service Revenue

    total $42,260,776 · related or exempt $42,260,776 · unrelated business $0 · excluded $0

  • 2b · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2c · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2d · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2e · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $726,351 · related or exempt $0 · unrelated business $0 · excluded $726,351

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $1,069,103

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $1,069,103

  • 6d · Net rental income or loss

    total $1,069,103 · related or exempt $0 · unrelated business $0 · excluded $1,069,103

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Other

    total $4,000 · related or exempt $0 · unrelated business $0 · excluded $4,000

  • 11b · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11c · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $4,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $1,637,210 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,224,268 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $79,688 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $2,384,211 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cost of Power

    total $31,028,540 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: Admin & General

    total $2,484,051 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: Taxes

    total $1,978,042 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses: Distribution and Maintenance

    total $3,244,220 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,182,747 · end of year $8,305,635

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,866,028 · end of year $2,883,259

  • 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 $1,470,321 · end of year $1,143,727

  • 8 · Inventories for sale or use

    beginning of year $1,418,307 · end of year $1,353,809

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,863,001 · end of year $2,687,814

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

    $77,403,626

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

    $31,094,305

  • 10c · Land, buildings and equipment, net

    beginning of year $42,399,431 · end of year $46,309,321

  • 11 · Investments: publicly traded securities

    beginning of year $3,253,349 · end of year $3,351,622

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 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 $2,340,575 · end of year $1,944,738

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,570,734 · end of year $6,582,317

  • 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 $3,432,621 · end of year $5,991,766

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,378,248 · end of year $5,213,339

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $48,412,156 · end of year $50,192,503

Mission and programs · 2024

Mission

Sell electricity at the lowest feasible rates to our membership.

Activities or mission (Part I)

Arab Electric Cooperatives most significant activities and mission include the sale of electricity at the lowest feasible rates to its membership.

  • Arab Electric Cooperative now serves 14,155 residential accounts,2,539 small commercial accounts 179 large commercial accounts as well as 157 lighting accounts for a total number of 17,030 accounts. Arab Electric Cooperative Inc. has 1,281 miles of distribution line that delivers power purchased from the Tennessee Valley Authority TVA to its members.

As filed on the 2024 return.

Listed in Part VII

  • Stacey White

    General Manager

    Total calculated
    $223,369
    From this org
    $161,607
    From related orgs
    $0
    Other
    $61,762
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,607
    Bonus
    $0
    Other
    $0
    Deferred
    $46,518
    Nontaxable benefits
    $15,244
    Filer's total
    $223,369

  • Charles W Whisenant

    Trustee

    Total calculated
    $9,707
    From this org
    $9,000
    From related orgs
    $0
    Other
    $707
    Hours/week
    1

  • Bill Stricklend

    Trustee

    Total calculated
    $9,632
    From this org
    $9,000
    From related orgs
    $0
    Other
    $632
    Hours/week
    1

  • Dianne Prestridge

    Trustee

    Total calculated
    $9,482
    From this org
    $9,000
    From related orgs
    $0
    Other
    $482
    Hours/week
    1

  • Janet Bright

    Trustee

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Nathan Clark

    Trustee

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tyler Barnes

    Trustee

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ty Smith

    Trustee

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeff Warren

    Trustee

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dewayne Shedd

    Trustee

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Seth Selby

    Assistant Manager

    Total calculated
    $154,772
    From this org
    $103,956
    From related orgs
    $0
    Other
    $50,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,956
    Bonus
    $0
    Other
    $0
    Deferred
    $30,006
    Nontaxable benefits
    $20,810
    Filer's total
    $154,772

  • Jerry Willis

    Staking Engineer

    Total calculated
    $173,394
    From this org
    $118,998
    From related orgs
    $0
    Other
    $54,396
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,998
    Bonus
    $0
    Other
    $0
    Deferred
    $32,973
    Nontaxable benefits
    $21,423
    Filer's total
    $173,394

  • Chris Burgess

    Electric Operations Manager

    Total calculated
    $149,526
    From this org
    $113,856
    From related orgs
    $0
    Other
    $35,670
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,856
    Bonus
    $0
    Other
    $0
    Deferred
    $33,315
    Nontaxable benefits
    $2,355
    Filer's total
    $149,526

  • Ryan Alexander

    Substation Operations and Maintenance Coordinator

    Total calculated
    $154,542
    From this org
    $107,225
    From related orgs
    $0
    Other
    $47,317
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $107,225
    Bonus
    $0
    Other
    $0
    Deferred
    $25,800
    Nontaxable benefits
    $21,517
    Filer's total
    $154,542

  • Russell Parsons

    Working Foreman

    Total calculated
    $149,643
    From this org
    $102,326
    From related orgs
    $0
    Other
    $47,317
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $102,326
    Bonus
    $0
    Other
    $0
    Deferred
    $25,800
    Nontaxable benefits
    $21,517
    Filer's total
    $149,643

  • Ronnie Jones

    Working Foreman

    Total calculated
    $136,201
    From this org
    $101,045
    From related orgs
    $0
    Other
    $35,156
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $101,045
    Bonus
    $0
    Other
    $0
    Deferred
    $25,800
    Nontaxable benefits
    $9,356
    Filer's total
    $136,201

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 · Written employment contract
  • 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

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
2024
Filed
10 November 2025
IRS schema version
2024v5.1
Source object
202533149349302988

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