Totals
- Total revenue
- $298,075,624
- Total expenses
- $287,051,332
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $287,508,193
- Investment income
- $6,263,989
- Other revenue
- $4,303,442
- Total assets, end of year
- $375,821,618
- Total liabilities, end of year
- $60,140,425
- Net assets or fund balances, end of year
- $315,681,193
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
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.
-
2a · Program service revenue: SALE OF ELECTRIC ENERGY
total $287,235,866 · related or exempt $287,235,866
-
2b · Program service revenue: NATURAL GAS SALES
total $144,389 · related or exempt $144,389
-
2c · Program service revenue: MISCELLANEOUS PROGRAM SERVICE
total $127,938 · related or exempt $127,938
-
3 · Investment income
total $734,937 · excluded $734,937
-
6a · Gross rents
personal property $4,303,442
-
6c · Rental income or loss
personal property $4,303,442
-
6d · Net rental income or loss
total $4,303,442 · excluded $4,303,442
-
7a · Gross sales of assets other than inventory
other assets $7,873,191
-
7b · Less cost or other basis and sales expenses
other assets $2,344,139
-
7c · Gain or loss
other assets $5,529,052
-
7d · Net gain or loss
total $5,529,052 · related or exempt $5,529,052
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $934,747
-
7 · Other salaries and wages
total $10,280,705
-
8 · Pension plan contributions
total $761,933
-
10 · Payroll taxes
total $841,389
-
11b · Fees: legal
total $176,344
-
11c · Fees: accounting
total $79,001
-
11g · Fees: other
total $44,271
-
12 · Advertising and promotion
total $82,750
-
13 · Office expenses
total $1,005,765
-
16 · Occupancy
total $2,527,564
-
20 · Interest
total $321,325
-
22 · Depreciation, depletion and amortization
total $19,932,091
-
23 · Insurance
total $766,599
-
24a · Other expenses: COST OF POWER
total $227,850,076
-
24b · Other expenses: DISTRIBUTION EXPENSE
total $13,782,140
-
24c · Other expenses: ADMINISTRATIVE AND GENERA
total $4,717,798
-
24d · Other expenses: CUSTOMER ACCOUNTS EXPENSE
total $1,918,437
-
24e · All other expenses
total $1,028,397
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $33,268,022 · end of year $25,095,926
-
2 · Savings and temporary cash investments
beginning of year $17,878,173 · end of year $23,878,583
-
4 · Accounts receivable
beginning of year $20,335,647 · end of year $16,901,587
-
7 · Other notes and loans receivable
beginning of year $5,890,404 · end of year $5,898,662
-
8 · Inventories for sale or use
beginning of year $11,227,589 · end of year $14,099,597
-
9 · Prepaid expenses and deferred charges
beginning of year $876,046 · end of year $890,367
-
10a · Land, buildings and equipment: cost or other basis
$569,632,678
-
10b · Land, buildings and equipment: accumulated depreciation
$294,334,879
-
10c · Land, buildings and equipment, net
beginning of year $267,423,786 · end of year $275,297,799
-
11 · Investments: publicly traded securities
beginning of year $9,240,250 · end of year $10,598,803
-
15 · Other assets
beginning of year $3,322,929 · end of year $3,160,294
-
17 · Accounts payable and accrued expenses
beginning of year $46,231,226 · end of year $40,038,541
-
23 · Secured mortgages and notes payable
beginning of year $9,899,969 · end of year $6,916,412
-
25 · Other liabilities
beginning of year $12,353,880 · end of year $13,185,472
-
29 · Capital stock, trust principal or current funds
beginning of year $480,995 · end of year $488,735
-
31 · Retained earnings, endowment or other funds
beginning of year $300,496,776 · end of year $315,192,458
Mission and programs · 2022
Mission
NONE
Activities or mission (Part I)
TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 125,317 CUSTOMERS.
-
TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 125,317 CUSTOMERS.
As filed on the 2022 return.
Listed in Part VII
-
Roderick R BlevinsRODERICK R BLEVINS
FORMER OFFIC
- Total calculated
- $525,417
- From this org
- $372,100
- From related orgs
- $0
- Other
- $153,317
- Hours/week
- 50 + 1 related
Schedule J breakdown matched by us
- Base
- $240,094
- Bonus
- not reported
- Other
- $132,006
- Deferred
- $141,775
- Nontaxable benefits
- $11,542
- Filer's total
- $525,417
-
Patty HurleyPATTY HURLEY
INTERIM PRES
- Total calculated
- $242,199
- From this org
- $228,399
- From related orgs
- $0
- Other
- $13,800
- Hours/week
- 45 + 2 related
Schedule J breakdown matched by us
- Base
- $221,424
- Bonus
- not reported
- Other
- $6,975
- Deferred
- not reported
- Nontaxable benefits
- $13,800
- Filer's total
- $242,199
-
Stacey HillSTACEY HILL
SERVICE FORE
- Total calculated
- $203,280
- From this org
- $147,148
- From related orgs
- $0
- Other
- $56,132
- Hours/week
- 57.45
Schedule J breakdown matched by us
- Base
- $146,228
- Bonus
- not reported
- Other
- $920
- Deferred
- $39,722
- Nontaxable benefits
- $16,410
- Filer's total
- $203,280
-
Mark VerstynenMARK VERSTYNEN
VP ACCOUNTIN
- Total calculated
- $202,862
- From this org
- $150,274
- From related orgs
- $0
- Other
- $52,588
- Hours/week
- 55 + 1 related
Schedule J breakdown matched by us
- Base
- $149,552
- Bonus
- not reported
- Other
- $722
- Deferred
- $35,485
- Nontaxable benefits
- $17,103
- Filer's total
- $202,862
-
Matthew TeagueMATTHEW TEAGUE
VP OF ENGINE
- Total calculated
- $200,403
- From this org
- $158,587
- From related orgs
- $0
- Other
- $41,816
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $149,777
- Bonus
- not reported
- Other
- $8,810
- Deferred
- $24,770
- Nontaxable benefits
- $17,046
- Filer's total
- $200,403
-
Michael BiceMICHAEL BICE
LINEMAN
- Total calculated
- $193,035
- From this org
- $168,921
- From related orgs
- $0
- Other
- $24,114
- Hours/week
- 63.33
Schedule J breakdown matched by us
- Base
- $168,795
- Bonus
- not reported
- Other
- $126
- Deferred
- $7,704
- Nontaxable benefits
- $16,410
- Filer's total
- $193,035
-
Mark KennedyMARK KENNEDY
LINEMAN
- Total calculated
- $188,152
- From this org
- $152,041
- From related orgs
- $0
- Other
- $36,111
- Hours/week
- 60.47
Schedule J breakdown matched by us
- Base
- $151,551
- Bonus
- not reported
- Other
- $490
- Deferred
- $19,701
- Nontaxable benefits
- $16,410
- Filer's total
- $188,152
-
Dustin BatesDUSTIN BATES
LINEMAN
- Total calculated
- $182,818
- From this org
- $160,495
- From related orgs
- $0
- Other
- $22,323
- Hours/week
- 61.11
Schedule J breakdown matched by us
- Base
- $160,306
- Bonus
- not reported
- Other
- $189
- Deferred
- $6,159
- Nontaxable benefits
- $16,164
- Filer's total
- $182,818
-
Brandon MosesBRANDON MOSES
LINEMAN
- Total calculated
- $167,435
- From this org
- $148,553
- From related orgs
- $0
- Other
- $18,882
- Hours/week
- 59.43
Schedule J breakdown matched by us
- Base
- $148,383
- Bonus
- not reported
- Other
- $170
- Deferred
- $2,718
- Nontaxable benefits
- $16,164
- Filer's total
- $167,435
-
Dion CooperDION COOPER
PRESIDENT/CE
- Total calculated
- $31,038
- From this org
- $29,595
- From related orgs
- $0
- Other
- $1,443
- Hours/week
- 60
-
Kenneth Carey JrKENNETH CAREY JR
DIRECTOR
- Total calculated
- $21,352
- From this org
- $21,352
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5 + 1 related
-
John BuchananJOHN BUCHANAN
DIRECTOR
- Total calculated
- $20,752
- From this org
- $20,752
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Aubie SmithAUBIE SMITH
CHAIRMAN
- Total calculated
- $20,752
- From this org
- $20,752
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10 + 0.5 related
-
Larry StorieLARRY STORIE
DIRECTOR
- Total calculated
- $19,924
- From this org
- $19,924
- From related orgs
- $0
- Other
- $0
- Hours/week
- 12
-
Jerry HenleyJERRY HENLEY
DIRECTOR
- Total calculated
- $19,624
- From this org
- $19,624
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Sammy NortonSAMMY NORTON
SECRETARY/TR
- Total calculated
- $19,324
- From this org
- $19,324
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10 + 2 related
-
Keith PhillipsKEITH PHILLIPS
DIRECTOR
- Total calculated
- $18,952
- From this org
- $18,952
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
-
Tim HandlerTIM HANDLER
ASST SEC/TRE
- Total calculated
- $18,600
- From this org
- $18,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
William J CampbellWILLIAM J CAMPBELL
VICE-CHAIRMA
- Total calculated
- $18,424
- From this org
- $18,424
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10 + 2 related
-
Mike FrazierMIKE FRAZIER
DIRECTOR
- Total calculated
- $16,924
- From this org
- $16,924
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
David J MilenDAVID J MILEN
DIRECTOR
- Total calculated
- $16,624
- From this org
- $16,624
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10 + 0.5 related
-
Randy BondRANDY BOND
DIRECTOR
- Total calculated
- $13,818
- From this org
- $13,818
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Philip SmithPHILIP SMITH
DIRECTOR
- Total calculated
- $2,271
- From this org
- $2,271
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8 + 0.25 related
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 · 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.
-
501C3 · CHARITABLE · TN · controlled entity
Directly controlled by VEC
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
VOLUNTEER ENERGY PROPANE LLC
PROPANE SA · TN · income -$149
Directly controlled by VEC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 20 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202342999349301429
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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