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← LAMAR COUNTY ELECTRIC COOPERATIVE ASSOCIATION

Form 990 for tax year 2024

Filed by LAMAR COUNTY ELECTRIC COOPERATIVE ASSOCIATION.

Totals

Total revenue
$37,157,272
Total expenses
$37,163,272
Contributions and grants received
$0
Grants paid
$6,000
Program service revenue
$35,830,607
Investment income
$865,009
Other revenue
$461,656
Total assets, end of year
$78,378,702
Total liabilities, end of year
$47,712,026
Net assets or fund balances, end of year
$30,666,676
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.

  • 2f · All other program service revenue

    total $35,830,607 · related or exempt $35,830,607 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $447,367 · related or exempt $0 · unrelated business $0 · excluded $447,367

  • 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 $23,583 · personal property $53,440

  • 6b · Less rental expenses

    real property $48,367 · personal property $0

  • 6c · Rental income or loss

    real property -$24,784 · personal property $53,440

  • 6d · Net rental income or loss

    total $28,656 · related or exempt $0 · unrelated business -$24,784 · excluded $53,440

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $417,642

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $417,642

  • 7d · Net gain or loss

    total $417,642 · related or exempt $0 · unrelated business $0 · excluded $417,642

  • 10a · Gross sales of inventory

    $16,058

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $16,058 · related or exempt $0 · unrelated business $0 · excluded $16,058

  • 11a · Other revenue: Extraordinary Income

    total $416,942 · related or exempt $416,942 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $416,942

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $6,000

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $2,032,305

  • 5 · Compensation of officers, directors and key employees

    total $1,056,407

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,685,606

  • 8 · Pension plan contributions

    total $380,584

  • 9 · Other employee benefits

    total $593,014

  • 10 · Payroll taxes

    total $129,182

  • 20 · Interest

    total $1,422,273

  • 22 · Depreciation, depletion and amortization

    total $3,121,113

  • 24a · Other expenses: Purchased Power

    total $21,197,951

  • 24b · Other expenses: Distribution Expense

    total $3,975,501

  • 24c · Other expenses: Admin & General Expenses

    total $1,085,702

  • 24d · Other expenses: Customer Accounts Expense

    total $239,755

  • 24e · All other expenses

    total $237,879

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,469 · end of year $1,413,096

  • 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 $2,785,529 · end of year $3,469,815

  • 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 $68,845 · end of year $85,768

  • 9 · Prepaid expenses and deferred charges

    beginning of year $390,268 · end of year $385,481

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

    $98,699,599

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

    $39,977,872

  • 10c · Land, buildings and equipment, net

    beginning of year $54,954,966 · end of year $58,721,727

  • 11 · Investments: publicly traded securities

    beginning of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $2,539,253 · end of year $14,302,815

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,024,945 · end of year $3,076,177

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $32,119 · end of year $9,585,274

  • 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 $24,933,787 · end of year $31,625,988

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $4,876,209 · end of year $3,424,587

  • 29 · Capital stock, trust principal or current funds

    beginning of year $242,310 · end of year $246,935

  • 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 $28,653,960 · end of year $30,419,741

Mission and programs · 2024

Mission

THE COOPERATIVE'S RESPONSIBILITY AND AIM IS TO PROVIDE EXCELLENT AND INNOVATIVE CUSTOMER SERVICE AS REFLECTED IN TOP QUALITY ELECTRIC SERVICE, RELIABILITY, AFFORDABLE RATES, EMPLOYEE TEAMWORK AND THE HIGHEST DEGREE OF INTEGRITY IN ALL COOPERATIVE ENDEAVORS.

Activities or mission (Part I)

LAMAR ELECTRIC COOPERATIVE PROVIDES QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 13,739 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

As filed on the 2024 return.

Listed in Part VII

  • Bryan Story

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $260,033
    From this org
    $200,114
    From related orgs
    $0
    Other
    $59,919
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,114
    Bonus
    $0
    Other
    $0
    Deferred
    $31,395
    Nontaxable benefits
    $28,524
    Filer's total
    $260,033

  • Jeffrey S Sansom

    OPERATIONS MANAGER

    Total calculated
    $230,930
    From this org
    $150,735
    From related orgs
    $0
    Other
    $80,195
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,735
    Bonus
    $0
    Other
    $0
    Deferred
    $51,979
    Nontaxable benefits
    $28,216
    Filer's total
    $230,930

  • Will Armstrong

    WORKING FOREMAN

    Total calculated
    $204,513
    From this org
    $114,361
    From related orgs
    $0
    Other
    $90,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,361
    Bonus
    $0
    Other
    $0
    Deferred
    $62,106
    Nontaxable benefits
    $28,046
    Filer's total
    $204,513

  • Ronnie Bridges

    WORKING FOREMAN

    Total calculated
    $185,622
    From this org
    $114,574
    From related orgs
    $0
    Other
    $71,048
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,574
    Bonus
    $0
    Other
    $0
    Deferred
    $43,001
    Nontaxable benefits
    $28,046
    Filer's total
    $185,621

  • Drew Conder

    RIGHT-OF-WAY SUPERINTENDENT

    Total calculated
    $170,233
    From this org
    $117,415
    From related orgs
    $0
    Other
    $52,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,415
    Bonus
    $0
    Other
    $0
    Deferred
    $24,733
    Nontaxable benefits
    $28,084
    Filer's total
    $170,232

  • Ryan Dean

    ENGINEERING AND TRANSMISSION TECHNICIAN

    Total calculated
    $141,280
    From this org
    $123,140
    From related orgs
    $0
    Other
    $18,140
    Hours/week
    40

  • George M Wood

    PRESIDENT

    Total calculated
    $10,198
    From this org
    $9,600
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.55

  • Jeremy Hamil

    DIRECTOR

    Total calculated
    $9,598
    From this org
    $9,000
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.18

  • Lyle D Yoder

    VICE PRESIDENT

    Total calculated
    $9,598
    From this org
    $9,000
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.18

  • Ron E Tippit

    DIRECTOR

    Total calculated
    $8,998
    From this org
    $8,400
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.45

  • James Floyd

    DIRECTOR

    Total calculated
    $8,998
    From this org
    $8,400
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.45

  • Barbara Golden

    DIRECTOR

    Total calculated
    $8,998
    From this org
    $8,400
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.32

  • Matthew Albus

    DIRECTOR

    Total calculated
    $8,398
    From this org
    $7,800
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.1

  • Michael Williams

    SECRETARY/TREASURER

    Total calculated
    $7,798
    From this org
    $7,200
    From related orgs
    $0
    Other
    $598
    Hours/week
    1.3

  • Josh Hostetler

    DIRECTOR

    Total calculated
    $7,698
    From this org
    $7,200
    From related orgs
    $0
    Other
    $498
    Hours/week
    1.04

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.

Provenance

Return type
form_990
Tax year
2024
Filed
25 September 2025
IRS schema version
2024v5.0
Source object
202502959349302175

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