Skip to content
Nonprofiteer
← TAYLOR COUNTY RURAL ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2023

Filed by TAYLOR COUNTY RURAL ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$57,000,482
Total expenses
$57,000,482
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$55,723,020
Investment income
$29,938
Other revenue
$1,247,524
Total assets, end of year
$110,772,331
Total liabilities, end of year
$49,483,210
Net assets or fund balances, end of year
$61,289,121
Program services expenses (Part IX)
$57,000,482
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$57,000,482

Program services were 100.0% 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 ELECTRICITY

    total $55,723,020 · related or exempt $55,723,020

  • 3 · Investment income

    total $29,938 · excluded $29,938

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $722,101 · related or exempt $722,101

  • 11b · Other revenue: JOINT USE POLE ATTACH

    total $303,463 · excluded $303,463

  • 11c · Other revenue: OTHER CAPITAL CREDITS AND PATRONA

    total $197,575 · related or exempt $197,575

  • 11d · All other revenue

    total $24,385 · excluded $24,385

  • 11e · Other revenue, total

    $1,247,524

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total -$7,200,749 · program services -$7,200,749

  • 5 · Compensation of officers, directors and key employees

    total $437,424 · program services $437,424

  • 7 · Other salaries and wages

    total $4,558,314 · program services $4,558,314

  • 8 · Pension plan contributions

    total $543,664 · program services $543,664

  • 9 · Other employee benefits

    total $1,085,146 · program services $1,085,146

  • 10 · Payroll taxes

    total $361,682 · program services $361,682

  • 11b · Fees: legal

    total $50,262 · program services $50,262

  • 11c · Fees: accounting

    total $20,300 · program services $20,300

  • 13 · Office expenses

    total $298,955 · program services $298,955

  • 20 · Interest

    total $1,834,092 · program services $1,834,092

  • 22 · Depreciation, depletion and amortization

    total $3,536,300 · program services $3,536,300

  • 23 · Insurance

    total $290,754 · program services $290,754

  • 24a · Other expenses: COST OF POWER

    total $45,360,798 · program services $45,360,798

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $7,208,506 · program services $7,208,506

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $2,429,941 · program services $2,429,941

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $2,268,771 · program services $2,268,771

  • 24e · All other expenses

    total -$6,083,678 · program services -$6,083,678

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,318,514 · end of year $1,825,592

  • 2 · Savings and temporary cash investments

    beginning of year $2,515,935 · end of year $1,176,236

  • 4 · Accounts receivable

    beginning of year $1,052,178 · end of year $1,350,984

  • 8 · Inventories for sale or use

    beginning of year $1,021,719 · end of year $1,470,220

  • 9 · Prepaid expenses and deferred charges

    beginning of year $262,318 · end of year $240,045

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

    $113,272,747

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

    $43,269,255

  • 10c · Land, buildings and equipment, net

    beginning of year $65,668,481 · end of year $70,003,492

  • 13 · Investments: program-related

    beginning of year $33,811,910 · end of year $34,531,072

  • 15 · Other assets

    beginning of year $22,558 · end of year $174,690

  • 17 · Accounts payable and accrued expenses

    beginning of year $523,456 · end of year $2,285,484

  • 23 · Secured mortgages and notes payable

    beginning of year $30,081,342 · end of year $40,098,157

  • 25 · Other liabilities

    beginning of year $8,638,381 · end of year $7,099,569

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$2,007,537 · end of year $240,566

  • 31 · Retained earnings, endowment or other funds

    beginning of year $68,437,971 · end of year $61,048,555

Mission and programs · 2023

Mission

DISTRIBUTION SALES OF ELECTRICITY TO A MONTHLY AVERAGE OF APPROXIMATELY 27,841 CONSUMERS ON A PATRONAGE BASIS.

  • DISTRIBUTION SALES OF ELECTRICITY TO A MONTHLY AVERAGE OF APPROXIMATELY 27,841 CONSUMERS ON A PATRONAGE BASIS.

    Expenses $57,000,482 · Revenue $56,642,696

As filed on the 2023 return.

Listed in Part VII

  • Donald Shuffett

    DIRECTOR

    Total calculated
    $40,336
    From this org
    $40,336
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Chad Taylor

    PRESIDENT

    Total calculated
    $22,025
    From this org
    $22,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Chris Tucker

    VICE-PRESIDENT

    Total calculated
    $23,900
    From this org
    $23,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Bradley Irvin

    TREASURER

    Total calculated
    $21,100
    From this org
    $21,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Raymond Rucker

    DIRECTOR

    Total calculated
    $32,761
    From this org
    $32,761
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Greg Corbin

    DIRECTOR

    Total calculated
    $19,800
    From this org
    $19,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mark Woodrum

    SECRETARY

    Total calculated
    $21,700
    From this org
    $21,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kyle Milby

    DIRECTOR

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Wayne Stearman

    DIRECTOR

    Total calculated
    $8,900
    From this org
    $8,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeffrey Williams

    CEO

    Total calculated
    $281,496
    From this org
    $216,926
    From related orgs
    $0
    Other
    $64,570
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,926
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $64,570
    Filer's total
    $281,496

  • Mike Skaggs

    ENG & OPERATIONS MANAGER

    Total calculated
    $167,902
    From this org
    $120,415
    From related orgs
    $0
    Other
    $47,487
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,415
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $47,487
    Filer's total
    $167,902

  • Lawrence Long

    SERVICEMAN

    Total calculated
    $194,684
    From this org
    $153,185
    From related orgs
    $0
    Other
    $41,499
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,185
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $41,499
    Filer's total
    $194,684

  • Tracy Moss

    SERVICEMAN

    Total calculated
    $168,535
    From this org
    $132,502
    From related orgs
    $0
    Other
    $36,033
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,502
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $36,033
    Filer's total
    $168,535

  • John Edwards

    SERVICEMAN

    Total calculated
    $165,961
    From this org
    $129,670
    From related orgs
    $0
    Other
    $36,291
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,670
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $36,291
    Filer's total
    $165,961

  • Steven Shofner

    FOREMAN

    Total calculated
    $161,003
    From this org
    $119,354
    From related orgs
    $0
    Other
    $41,649
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,354
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $41,649
    Filer's total
    $161,003

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
2023
Filed
2 October 2024
IRS schema version
2023v5.1
Source object
202422859349301022

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.