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Nonprofiteer
← CLAY COUNTY ELECTRIC COOP CORP

Form 990 for tax year 2023

Filed by CLAY COUNTY ELECTRIC COOP CORP.

Totals

Total revenue
$35,184,742
Total expenses
$35,031,974
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$34,299,438
Investment income
$867,409
Other revenue
$17,895
Total assets, end of year
$152,853,998
Total liabilities, end of year
$70,384,867
Net assets or fund balances, end of year
$82,469,131
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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: ENERGY SALES

    total $33,669,746 · related or exempt $33,669,746 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: GENERATION AND TRANSMISSION CAPITAL CREDITS

    total $329,955 · related or exempt $329,955 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: OTHER CAPITAL CREDITS AND PATRONAGE DIVIDENDS

    total $299,737 · related or exempt $299,737 · 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 $856,775 · related or exempt $0 · unrelated business $337,500 · excluded $519,275

  • 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 $1,131,720 · personal property $17,436

  • 6b · Less rental expenses

    real property $1,193,661 · personal property $0

  • 6c · Rental income or loss

    real property -$61,941 · personal property $17,436

  • 6d · Net rental income or loss

    total -$44,505 · related or exempt $0 · unrelated business -$61,941 · excluded $17,436

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $10,634

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $10,634

  • 7d · Net gain or loss

    total $10,634 · related or exempt $0 · unrelated business $0 · excluded $10,634

  • 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: MANAGEMENT FEE INCOME FROM CCC

    total $62,400 · related or exempt $0 · unrelated business $62,400 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $62,400

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 $3,876,171

  • 5 · Compensation of officers, directors and key employees

    total $574,270

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,238,663

  • 8 · Pension plan contributions

    total -$105,296

  • 9 · Other employee benefits

    total $141,545

  • 10 · Payroll taxes

    total $383,356

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $68,976

  • 11c · Fees: accounting

    total $68,535

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $19,824

  • 12 · Advertising and promotion

    total $51,791

  • 13 · Office expenses

    total $478,756

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $26,684

  • 20 · Interest

    total $2,126,223

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $3,829,223

  • 23 · Insurance

    total $337,753

  • 24a · Other expenses: PURCHASED POWER

    total $13,986,112

  • 24b · Other expenses: DISTRIBUTION EXP-OPER & MAIN

    total $5,600,400

  • 24c · Other expenses: CUSTOMER EXPENSE

    total $1,247,780

  • 24d · Other expenses: PROPERTY TAXES

    total $229,419

  • 24e · All other expenses

    total $851,789

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,639,447 · end of year $1,686,590

  • 2 · Savings and temporary cash investments

    beginning of year $1,459,957 · end of year $1,081,119

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $7,045,276 · end of year $6,143,383

  • 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 $4,196,015 · end of year $4,578,042

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,432,105 · end of year $1,246,181

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

    $153,400,890

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

    $32,135,045

  • 10c · Land, buildings and equipment, net

    beginning of year $122,610,382 · end of year $121,265,845

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $17,501,655 · end of year $16,689,460

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $143,631 · end of year $163,378

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,382,527 · end of year $7,534,241

  • 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 $59,103,927 · end of year $59,284,865

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $12,184,856 · end of year $3,565,761

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $203,085 · end of year $204,645

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $777,866 · end of year $781,941

  • 31 · Retained earnings, endowment or other funds

    beginning of year $76,376,207 · end of year $81,482,545

Mission and programs · 2023

Mission

CLAY COUNTY ELECTRIC COOPERATIVE CORPORATION IS YOUR MEMBER-OWNED COOPERATIVE THAT PROVIDES SAFE, AFFORDABLE, DEPENDABLE AND CONSUMER BASED UTILITY SERVICES.

Activities or mission (Part I)

CLAY COUNTY ELECTRIC COOPERATIVE CORPORATION IS YOUR MEMBER-OWNED COOPERATIVE THAT PROVIDES SAFE, AFFORDABLE, DEPENDABLE AND CONSUMER-BASED UTILITY SERVICES

  • Sales of 285,499,201 kilowatt hours of electric energy to its members/consumers on a non-profit basis.

As filed on the 2023 return.

Listed in Part VII

  • Charles Raglin

    Board Vice-President

    Total calculated
    $14,799
    From this org
    $14,799
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Connie Pendergrass

    Board Secretary/Treasurer

    Total calculated
    $29,185
    From this org
    $29,185
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • John Dalton

    Board President

    Total calculated
    $31,377
    From this org
    $31,377
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.2

  • Cary Wilson

    Director

    Total calculated
    $30,078
    From this org
    $30,078
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Jerry Turner

    Director

    Total calculated
    $29,100
    From this org
    $29,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • L Wade Harris

    Director

    Total calculated
    $30,081
    From this org
    $30,081
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Todd Young

    Director

    Total calculated
    $19,815
    From this org
    $19,815
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Tyler Kirklin

    Director

    Total calculated
    $16,375
    From this org
    $16,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Wade Schimming

    Director

    Total calculated
    $30,485
    From this org
    $30,485
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.2

  • David Smith

    General Manager

    Total calculated
    $342,975
    From this org
    $256,798
    From related orgs
    $0
    Other
    $86,177
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,942
    Bonus
    $818
    Other
    $15,038
    Deferred
    $57,502
    Nontaxable benefits
    $28,675
    Filer's total
    $342,975

  • Craig Weisenbach

    Line Foreman

    Total calculated
    $159,665
    From this org
    $120,499
    From related orgs
    $0
    Other
    $39,166
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $115,899
    Bonus
    $818
    Other
    $3,782
    Deferred
    $12,172
    Nontaxable benefits
    $26,994
    Filer's total
    $159,665

  • Gala Blanchard

    Manager of Accounting and Finance

    Total calculated
    $203,352
    From this org
    $120,795
    From related orgs
    $0
    Other
    $82,557
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,927
    Bonus
    $818
    Other
    $5,050
    Deferred
    $55,457
    Nontaxable benefits
    $27,100
    Filer's total
    $203,352

  • Matt Miiller

    CCC General Manager

    Total calculated
    $196,764
    From this org
    $154,343
    From related orgs
    $0
    Other
    $42,421
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $146,122
    Bonus
    $818
    Other
    $7,403
    Deferred
    $16,045
    Nontaxable benefits
    $26,376
    Filer's total
    $196,764

  • Odis Williams

    Manager of Operations

    Total calculated
    $214,231
    From this org
    $140,120
    From related orgs
    $0
    Other
    $74,111
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $130,257
    Bonus
    $818
    Other
    $9,045
    Deferred
    $45,159
    Nontaxable benefits
    $28,952
    Filer's total
    $214,231

  • Tonya Tucker

    Manager of Administration

    Total calculated
    $175,359
    From this org
    $122,887
    From related orgs
    $0
    Other
    $52,472
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,635
    Bonus
    $818
    Other
    $4,434
    Deferred
    $26,206
    Nontaxable benefits
    $26,266
    Filer's total
    $175,359

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 · 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.

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.

  • CLAY COUNTY CONNECT INC

    C Corporation · INTERNET · AR · 100% owned · share of income $6,084,342 · share of assets $8,712,873 · controlled entity

    Directly controlled by CCECC

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202443169349305149

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