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Nonprofiteer
← ESCAMBIA RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by ESCAMBIA RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$33,191,393
Total expenses
$33,120,460
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$32,443,111
Investment income
$70,407
Other revenue
$677,875
Total assets, end of year
$99,877,241
Total liabilities, end of year
$62,948,430
Net assets or fund balances, end of year
$36,928,811
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 $31,160,608 · related or exempt $31,160,608

  • 2b · Program service revenue: Water Sales

    total $902,390 · related or exempt $902,390

  • 2c · Program service revenue: Patronage Capital

    total $380,113 · related or exempt $380,113

  • 3 · Investment income

    total $43,907 · excluded $43,907

  • 6a · Gross rents

    personal property $348,841

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $348,841

  • 6d · Net rental income or loss

    total $348,841 · unrelated business $29,020 · excluded $319,821

  • 7a · Gross sales of assets other than inventory

    other assets $26,500

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

    other assets $0

  • 7c · Gain or loss

    other assets $26,500

  • 7d · Net gain or loss

    total $26,500 · excluded $26,500

  • 11a · Other revenue: Non-operating income

    total $329,034 · related or exempt $329,034

  • 11e · Other revenue, total

    $329,034

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $766,620

  • 5 · Compensation of officers, directors and key employees

    total $624,968

  • 20 · Interest

    total $1,486,446

  • 22 · Depreciation, depletion and amortization

    total $2,246,942

  • 24a · Other expenses: Cost of Power

    total $18,604,046

  • 24b · Other expenses: Dist Exp - Maintenance

    total $3,452,230

  • 24c · Other expenses: Dist Exp - Operations

    total $2,625,547

  • 24d · Other expenses: General & Admin Exp

    total $1,891,154

  • 24e · All other expenses

    total $1,422,507

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,440,842 · end of year $4,048,519

  • 4 · Accounts receivable

    beginning of year $3,590,651 · end of year $3,679,393

  • 7 · Other notes and loans receivable

    beginning of year $260,000 · end of year $250,000

  • 8 · Inventories for sale or use

    beginning of year $1,617,004 · end of year $7,932,960

  • 9 · Prepaid expenses and deferred charges

    beginning of year $427,017 · end of year $408,405

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

    $97,681,340

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

    $28,629,789

  • 10c · Land, buildings and equipment, net

    beginning of year $48,432,411 · end of year $69,051,551

  • 11 · Investments: publicly traded securities

    beginning of year $5,485 · end of year -$5,485

  • 13 · Investments: program-related

    beginning of year $14,052,228 · end of year $14,320,494

  • 15 · Other assets

    beginning of year $182,102 · end of year $191,404

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,493,940 · end of year $8,974,905

  • 23 · Secured mortgages and notes payable

    beginning of year $38,202,373 · end of year $52,845,280

  • 25 · Other liabilities

    beginning of year $1,150,901 · end of year $1,128,245

  • 29 · Capital stock, trust principal or current funds

    beginning of year $49,475 · end of year $51,140

  • 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 $36,111,051 · end of year $36,877,671

Mission and programs · 2023

Mission

To provide dependable electric service at competitive rates to the residents of northern Escambia County and Santa Rosa County Florida. Escambia River Electric Cooperative also provides water service to residents of northern Escambia County.

  • Utilizing 1,798 miles of electric distribution lines, Escambia River Electric Cooperative, Inc. provided 213,414,229 Kilowatt Hours of electric energy to its residential, commercial, and industrial members located in Northwest Florida.

  • Escambia River Electric Cooperative, Inc. provides water service to approximately 1,500 members located in northern Escambia County.

As filed on the 2023 return.

Listed in Part VII

  • Richard Hunsucker

    Trustee- President

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Samuel Walker

    Trustee- Vice President

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Radford Locklin Jr

    Trustee-Secretary/Treasure

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mickey Diamond

    Trustee

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • James E Hall

    Trustee

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ed Kelley

    Trustee

    Total calculated
    $3,200
    From this org
    $3,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ernie Hester

    Trustee

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dale Westmoreland

    Trustee-Secretary/Treasure

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Gary Wiggins

    Trustee

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • J D Powell

    Trustee

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Wesley Scott

    Trustee

    Total calculated
    $2,900
    From this org
    $2,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Sonya Dooley

    VP of Finance and HR

    Total calculated
    $156,783
    From this org
    $102,441
    From related orgs
    $0
    Other
    $54,342
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $102,441
    Bonus
    $0
    Other
    $0
    Deferred
    $34,701
    Nontaxable benefits
    $19,641
    Filer's total
    $156,783

  • Ryan C Campbell

    CEO

    Total calculated
    $270,019
    From this org
    $201,155
    From related orgs
    $0
    Other
    $68,864
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $201,155
    Bonus
    $0
    Other
    $0
    Deferred
    $55,605
    Nontaxable benefits
    $13,259
    Filer's total
    $270,019

  • Nick Jackson

    VP of Corp & Mem Svc.

    Total calculated
    $153,066
    From this org
    $128,697
    From related orgs
    $0
    Other
    $24,369
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,697
    Bonus
    $0
    Other
    $0
    Deferred
    $17,618
    Nontaxable benefits
    $6,751
    Filer's total
    $153,066

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 · 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.

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.

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.

  • Escambia River Rural Services Inc

    C · Satellite internet sales and service · AL · 100% owned · share of income -$79,689 · share of assets $2,091,262 · controlled entity

    Directly controlled by Escambia River Electric Coop Inc

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202433179349304743

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