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Nonprofiteer
← SLASH PINE ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by SLASH PINE ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$27,262,892
Total expenses
$27,262,892
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,080,277
Investment income
$182,615
Other revenue
$0
Total assets, end of year
$70,522,267
Total liabilities, end of year
$39,046,991
Net assets or fund balances, end of year
$31,475,276
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: ELECTRIC REVENUE

    total $25,693,628 · related or exempt $25,693,628

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $766,930 · related or exempt $766,930

  • 2c · Program service revenue: G & T CAPITAL CREDITS

    total $433,863 · related or exempt $433,863

  • 2d · Program service revenue: POLE RENTAL

    total $185,856 · excluded $185,856

  • 3 · Investment income

    total $182,615 · excluded $182,615

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,851,334

  • 5 · Compensation of officers, directors and key employees

    total $555,462

  • 20 · Interest

    total $998,401

  • 22 · Depreciation, depletion and amortization

    total $1,396,940

  • 24a · Other expenses: PURCHASED POWER

    total $14,018,703

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $2,164,545

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $1,078,276

  • 24d · Other expenses: ADMIN. & GENERAL EXP.

    total $800,763

  • 24e · All other expenses

    total $398,468

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,367,987 · end of year $1,313,265

  • 2 · Savings and temporary cash investments

    beginning of year $3,568,267 · end of year $3,584,121

  • 4 · Accounts receivable

    beginning of year $3,401,262 · end of year $3,532,186

  • 8 · Inventories for sale or use

    beginning of year $864,430 · end of year $1,995,031

  • 9 · Prepaid expenses and deferred charges

    beginning of year $190,073 · end of year $84,945

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

    $60,986,821

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

    $11,563,054

  • 10c · Land, buildings and equipment, net

    beginning of year $42,474,877 · end of year $49,423,767

  • 13 · Investments: program-related

    beginning of year $9,402,538 · end of year $10,585,498

  • 15 · Other assets

    beginning of year $3,458 · end of year $3,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,824,138 · end of year $2,717,719

  • 19 · Deferred revenue

    beginning of year $3,519,933 · end of year $3,579,435

  • 23 · Secured mortgages and notes payable

    beginning of year $27,279,296 · end of year $30,186,691

  • 25 · Other liabilities

    beginning of year $2,557,330 · end of year $2,563,146

  • 29 · Capital stock, trust principal or current funds

    beginning of year $32,730 · end of year $33,025

  • 31 · Retained earnings, endowment or other funds

    beginning of year $26,059,465 · end of year $31,442,251

Mission and programs · 2023

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • Bob Joyce

    PRESIDENT

    Total calculated
    $32,531
    From this org
    $32,531
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Louis Cassotta

    VICE PRESIDE

    Total calculated
    $31,944
    From this org
    $31,944
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Michael D Herring

    SECRETARY

    Total calculated
    $31,447
    From this org
    $31,447
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Charles Crumbley

    TREASURER

    Total calculated
    $23,917
    From this org
    $23,917
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Betsy Clifton

    DIRECTOR

    Total calculated
    $21,843
    From this org
    $21,843
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Robert Hart

    DIRECTOR

    Total calculated
    $27,178
    From this org
    $27,178
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • William Bennett

    DIRECTOR

    Total calculated
    $28,186
    From this org
    $28,186
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Harold McLeod

    DIRECTOR

    Total calculated
    $24,618
    From this org
    $24,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jerry Smith

    DIRECTOR

    Total calculated
    $30,812
    From this org
    $30,812
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • J Timothy Register

    GENERAL MANA

    Total calculated
    $302,986
    From this org
    $262,393
    From related orgs
    $0
    Other
    $40,593
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $262,232
    Bonus
    not reported
    Other
    $161
    Deferred
    $7,200
    Nontaxable benefits
    $33,393
    Filer's total
    $302,986

  • Nathan Guess

    LINE TECHNIC

    Total calculated
    $148,306
    From this org
    $110,407
    From related orgs
    $0
    Other
    $37,899
    Hours/week
    50

  • Carthel Guess

    ENGINEERING

    Total calculated
    $137,074
    From this org
    $104,342
    From related orgs
    $0
    Other
    $32,732
    Hours/week
    50

  • Dakota Moses

    LINE TECHNIC

    Total calculated
    $141,888
    From this org
    $111,862
    From related orgs
    $0
    Other
    $30,026
    Hours/week
    50

  • Derek Stickland

    FOREMAN

    Total calculated
    $160,584
    From this org
    $121,483
    From related orgs
    $0
    Other
    $39,101
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $121,483
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $39,101
    Filer's total
    $160,584

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 · Form 990 of other organizations
  • 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
2023
Filed
23 August 2024
IRS schema version
2023v5.0
Source object
202422399349301122

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