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Nonprofiteer
← NORTH ALABAMA ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by NORTH ALABAMA ELECTRIC COOPERATIVE.

Totals

Total revenue
$58,675,843
Total expenses
$54,368,820
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$55,231,854
Investment income
$1,237,124
Other revenue
$2,206,865
Total assets, end of year
$73,196,353
Total liabilities, end of year
$26,677,406
Net assets or fund balances, end of year
$46,518,947
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: Sales of Electricity

    total $49,770,886 · related or exempt $49,770,886

  • 2b · Program service revenue: Broadband Revenue

    total $5,460,968 · related or exempt $5,460,968

  • 3 · Investment income

    total $487,165 · excluded $487,165

  • 6a · Gross rents

    real property $721,400

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $721,400

  • 6d · Net rental income or loss

    total $721,400 · excluded $721,400

  • 7a · Gross sales of assets other than inventory

    other assets $749,959

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

    other assets $0

  • 7c · Gain or loss

    other assets $749,959

  • 7d · Net gain or loss

    total $749,959 · excluded $749,959

  • 11a · Other revenue: RDOF Grant

    total $791,425 · related or exempt $791,425

  • 11b · Other revenue: Other Revenue

    total $694,040 · related or exempt $694,040

  • 11e · Other revenue, total

    $1,485,465

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $489,957

  • 8 · Pension plan contributions

    total $294,387

  • 20 · Interest

    total $481,456

  • 22 · Depreciation, depletion and amortization

    total $3,317,176

  • 24a · Other expenses: Purchased Power

    total $35,066,861

  • 24b · Other expenses: Broadband Expenses

    total $3,351,334

  • 24c · Other expenses: Distribution Maintenanc

    total $3,298,612

  • 24d · Other expenses: General and Admin

    total $2,809,804

  • 24e · All other expenses

    total $5,259,233

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,448,577 · end of year $12,130,133

  • 4 · Accounts receivable

    beginning of year $4,342,315 · end of year $4,555,693

  • 7 · Other notes and loans receivable

    beginning of year $926,873 · end of year $741,234

  • 8 · Inventories for sale or use

    beginning of year $1,631,872 · end of year $2,034,442

  • 9 · Prepaid expenses and deferred charges

    beginning of year $495,762 · end of year $728,109

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

    $80,211,573

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

    $39,315,476

  • 10c · Land, buildings and equipment, net

    beginning of year $37,791,388 · end of year $40,896,097

  • 13 · Investments: program-related

    beginning of year $4,512,031 · end of year $5,146,851

  • 15 · Other assets

    beginning of year $571,513 · end of year $6,963,794

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,828,780 · end of year $5,812,232

  • 23 · Secured mortgages and notes payable

    beginning of year $6,134,899 · end of year $10,672,060

  • 25 · Other liabilities

    beginning of year $15,967,941 · end of year $10,193,114

  • 29 · Capital stock, trust principal or current funds

    beginning of year $172,700 · end of year $174,870

  • 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 $34,616,011 · end of year $46,344,077

Mission and programs · 2023

Mission

The aim of North Alabma Electric Cooperative is to make electric energy available to its members at the lowest cost consistent with sound economy and good management.

Activities or mission (Part I)

Providing electric energy to its members

  • Utilizing approximately 2,300 miles of distribution lines, North Alabama Electric Cooperative provided 435,160,613 KWH's of electric energy to its cooperative members.

  • Utilizing approximately 2,300 miles of fiber internet, North Alabama Electric Cooperative provided dependable and affordable communications services to its cooperative members.

As filed on the 2023 return.

Listed in Part VII

  • James Goins

    Trustee

    Total calculated
    $17,900
    From this org
    $17,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Steve Carver

    Trustee

    Total calculated
    $29,247
    From this org
    $29,247
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Parks Tubbs

    Secretary/Treasurer

    Total calculated
    $17,935
    From this org
    $17,935
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Warren Whitcher

    Trustee

    Total calculated
    $10,657
    From this org
    $10,657
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Louis Crowder

    Trustee

    Total calculated
    $13,501
    From this org
    $13,501
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Willard Townson

    President

    Total calculated
    $10,207
    From this org
    $10,207
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Mark Dover

    Trustee

    Total calculated
    $29,847
    From this org
    $29,847
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Bobby Hicks

    Trustee

    Total calculated
    $29,447
    From this org
    $29,447
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Kasey Sanders

    Trustee

    Total calculated
    $400
    From this org
    $400
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Gena Hall

    General Manager

    Total calculated
    $209,024
    From this org
    $145,878
    From related orgs
    $0
    Other
    $63,146
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,878
    Bonus
    $0
    Other
    $0
    Deferred
    $37,930
    Nontaxable benefits
    $25,216
    Filer's total
    $209,024

  • Dan Cobb

    CFO

    Total calculated
    $121,794
    From this org
    $105,302
    From related orgs
    $0
    Other
    $16,492
    Hours/week
    40

  • William Selby

    Telecomm Super

    Total calculated
    $218,660
    From this org
    $144,389
    From related orgs
    $0
    Other
    $74,271
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,389
    Bonus
    $0
    Other
    $0
    Deferred
    $49,161
    Nontaxable benefits
    $25,110
    Filer's total
    $218,660

  • Chassity Haynes

    Office Manager

    Total calculated
    $159,730
    From this org
    $109,902
    From related orgs
    $0
    Other
    $49,828
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,902
    Bonus
    $0
    Other
    $0
    Deferred
    $26,163
    Nontaxable benefits
    $23,665
    Filer's total
    $159,730

  • Jason Johnson

    Superintendent

    Total calculated
    $154,149
    From this org
    $119,318
    From related orgs
    $0
    Other
    $34,831
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,318
    Bonus
    $0
    Other
    $0
    Deferred
    $11,304
    Nontaxable benefits
    $23,527
    Filer's total
    $154,149

  • Tim Weaver

    Electric Foreman

    Total calculated
    $183,429
    From this org
    $124,400
    From related orgs
    $0
    Other
    $59,029
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,400
    Bonus
    $0
    Other
    $0
    Deferred
    $34,661
    Nontaxable benefits
    $24,368
    Filer's total
    $183,429

  • Brian Guinn

    Electric Foreman

    Total calculated
    $161,863
    From this org
    $122,225
    From related orgs
    $0
    Other
    $39,638
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,225
    Bonus
    $0
    Other
    $0
    Deferred
    $16,144
    Nontaxable benefits
    $23,494
    Filer's total
    $161,863

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 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
7 May 2025
IRS schema version
2023v6.0
Source object
202521279349302187

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