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Nonprofiteer
← APPALACHIAN ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by APPALACHIAN ELECTRIC COOPERATIVE.

Totals

Total revenue
$126,269,477
Total expenses
$121,793,443
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$119,623,655
Investment income
$540,029
Other revenue
$6,105,793
Total assets, end of year
$279,058,188
Total liabilities, end of year
$155,877,470
Net assets or fund balances, end of year
$123,180,718
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$111,416,882

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 Electricty

    total $118,244,118 · related or exempt $118,244,118

  • 2b · Program service revenue: Service Charges

    total $1,379,537 · related or exempt $1,379,537

  • 3 · Investment income

    total $540,029 · related or exempt $540,029

  • 6a · Gross rents

    personal property $6,105,793

  • 6c · Rental income or loss

    personal property $6,105,793

  • 6d · Net rental income or loss

    total $6,105,793 · related or exempt $6,105,793

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $509,461

  • 7 · Other salaries and wages

    total $6,892,920

  • 8 · Pension plan contributions

    total $1,869,172

  • 9 · Other employee benefits

    total $52,164

  • 11a · Fees: management

    total $51,955

  • 11b · Fees: legal

    total $20,919

  • 11c · Fees: accounting

    total $41,943

  • 20 · Interest

    total $2,360,865

  • 22 · Depreciation, depletion and amortization

    total $8,995,156

  • 24a · Other expenses: Cost of Purchased Power

    total $85,624,750

  • 24b · Other expenses: Distribution

    total $12,827,350

  • 24c · Other expenses: Administrative

    total $1,394,345

  • 24d · Other expenses: Transmission

    total $1,152,443

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,244,793 · end of year $12,452,967

  • 2 · Savings and temporary cash investments

    beginning of year $5,126,067 · end of year $4,184,244

  • 4 · Accounts receivable

    beginning of year $8,704,049 · end of year $14,327,855

  • 8 · Inventories for sale or use

    beginning of year $4,273,350 · end of year $5,398,836

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

    $348,262,272

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

    $119,625,594

  • 10c · Land, buildings and equipment, net

    beginning of year $204,836,568 · end of year $228,636,678

  • 15 · Other assets

    beginning of year $13,978,371 · end of year $14,057,608

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,824,100 · end of year $19,302,838

  • 23 · Secured mortgages and notes payable

    beginning of year $94,411,332 · end of year $121,386,882

  • 25 · Other liabilities

    beginning of year $15,115,738 · end of year $15,187,750

  • 27 · Net assets without donor restrictions

    beginning of year $118,812,028 · end of year $123,180,718

Mission and programs · 2022

Mission

Distribution of Electricity to members/owners.

Activities or mission (Part I)

Distribution of Electricity to memberowners

  • Distribution of Electricity

    Expenses $111,416,882

As filed on the 2022 return.

Listed in Part VII

  • Dale Fain

    President

    Total calculated
    $19,877
    From this org
    $19,877
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    $19,877
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $19,877

  • Mark Isom

    Vice President

    Total calculated
    $14,773
    From this org
    $14,773
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $14,773
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $14,773

  • John Austin

    SecretaryTreasurer

    Total calculated
    $17,614
    From this org
    $17,614
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

    Schedule J breakdown matched by us

    Base
    $17,614
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $17,614

  • Randy Baxley

    Director

    Total calculated
    $15,364
    From this org
    $15,364
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $15,364
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $15,364

  • Mike Norton

    Director

    Total calculated
    $15,744
    From this org
    $15,744
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    $15,744
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $15,744

  • Mike Hicks

    Director

    Total calculated
    $15,354
    From this org
    $15,354
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $15,354
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $15,354

  • Tim Collins

    Director

    Total calculated
    $14,474
    From this org
    $14,474
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $14,474
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $14,474

  • Sue McBee

    Director

    Total calculated
    $15,704
    From this org
    $15,704
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $15,704
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $15,704

  • Gary Jett

    Director

    Total calculated
    $15,504
    From this org
    $15,504
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $15,504
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $15,504

  • Greg Williams

    General Manager

    Total calculated
    $203,083
    From this org
    $203,083
    From related orgs
    $0
    Other
    $0
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $203,083
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $203,083

  • Conard Frye

    VP of Admin

    Total calculated
    $150,167
    From this org
    $150,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $150,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $150,167

  • Joe McCarter

    VP of Engineering

    Total calculated
    $156,211
    From this org
    $156,211
    From related orgs
    $0
    Other
    $0
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $156,211
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $156,211

  • Brad Watson

    Foreman

    Total calculated
    $124,530
    From this org
    $124,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $124,530
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $124,530

  • James Chambers

    Operating Supervisor

    Total calculated
    $142,080
    From this org
    $142,080
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,080
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $142,080

  • Adam Newcomb

    Director of Engineerin

    Total calculated
    $127,183
    From this org
    $127,183
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $127,183
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $127,183

  • David Morgan

    Operating Supervisor

    Total calculated
    $131,288
    From this org
    $131,288
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $131,288
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $131,288

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333179349305983

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