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Nonprofiteer
← CENTRAL ALABAMA ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by CENTRAL ALABAMA ELECTRIC COOPERATIVE.

Totals

Total revenue
$134,243,688
Total expenses
$127,055,686
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$122,132,624
Investment income
$90,567
Other revenue
$12,020,497
Total assets, end of year
$466,671,017
Total liabilities, end of year
$333,669,940
Net assets or fund balances, end of year
$133,001,077
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 SALES

    total $120,949,901 · excluded $120,949,901

  • 2b · Program service revenue: POLE ATTACHMENTS

    total $1,182,723 · excluded $1,182,723

  • 3 · Investment income

    total $90,567 · excluded $90,567

  • 6a · Gross rents

    real property $6,693,144

  • 6c · Rental income or loss

    real property $6,693,144

  • 6d · Net rental income or loss

    total $6,693,144 · unrelated business $6,693,144

  • 11a · Other revenue: CAPITAL CREDITS

    total $5,360,415 · excluded $5,360,415

  • 11b · Other revenue: OTHER NON OPERATING INCOME

    total $150,264 · excluded $150,264

  • 11c · Other revenue: E.I. 90-0025341

    total -$183,326 · excluded -$183,326

  • 11e · Other revenue, total

    $5,327,353

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,001,853

  • 5 · Compensation of officers, directors and key employees

    total $2,009,054

  • 7 · Other salaries and wages

    total $876,595

  • 20 · Interest

    total $12,349,775

  • 22 · Depreciation, depletion and amortization

    total $12,231,791

  • 24a · Other expenses: COST OF POWER

    total $67,757,874

  • 24b · Other expenses: DISTRIBUTION- MAINTENANCE

    total $12,872,588

  • 24c · Other expenses: ADMINISTRATIVE & GENERAL

    total $7,103,806

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $5,014,462

  • 24e · All other expenses

    total $5,837,888

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $711,372 · end of year $1,621,352

  • 4 · Accounts receivable

    beginning of year $28,441,019 · end of year $30,341,472

  • 8 · Inventories for sale or use

    beginning of year $4,380,075 · end of year $4,932,784

  • 9 · Prepaid expenses and deferred charges

    beginning of year $713,697 · end of year $980,229

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

    $445,047,475

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

    $88,780,272

  • 10c · Land, buildings and equipment, net

    beginning of year $309,470,529 · end of year $356,267,203

  • 13 · Investments: program-related

    beginning of year $58,353,133 · end of year $62,693,244

  • 14 · Intangible assets

    beginning of year $11,469,378 · end of year $9,834,733

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,470,740 · end of year $11,217,588

  • 23 · Secured mortgages and notes payable

    beginning of year $253,871,130 · end of year $290,016,297

  • 25 · Other liabilities

    beginning of year $21,311,721 · end of year $32,436,055

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

    beginning of year $183,115 · end of year $185,370

  • 31 · Retained earnings, endowment or other funds

    beginning of year $125,702,497 · end of year $132,815,707

Mission and programs · 2024

Mission

TO PROVIDE UTILITY SERVICE TO COOPERATIVE MEMBERS.

  • PROVIDED ELECTRIC UTILITY SERVICE TO APPROXIMATELY 36,465 COOPERATIVE MEMBERS.

  • PROVIDED ELECTRIC UTILITY SERVICE TO APPROXIMATELY 36,465 COOPERATIVE MEMBERS.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Thomas Stackhouse

    PRESIDENT/CE

    Total calculated
    $603,180
    From this org
    $448,245
    From related orgs
    $0
    Other
    $154,935
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $440,292
    Bonus
    not reported
    Other
    $7,953
    Deferred
    $127,200
    Nontaxable benefits
    $27,735
    Filer's total
    $603,180

  • James Gray

    VP ENGINEER/

    Total calculated
    $398,020
    From this org
    $235,150
    From related orgs
    $0
    Other
    $162,870
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $233,248
    Bonus
    not reported
    Other
    $1,902
    Deferred
    $137,461
    Nontaxable benefits
    $25,409
    Filer's total
    $398,020

  • Julie Young

    VP BUSINESS

    Total calculated
    $375,617
    From this org
    $234,374
    From related orgs
    $0
    Other
    $141,243
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $226,976
    Bonus
    not reported
    Other
    $7,398
    Deferred
    $130,492
    Nontaxable benefits
    $10,751
    Filer's total
    $375,617

  • Aaron Ismail

    VP CUSTOMER/

    Total calculated
    $332,873
    From this org
    $217,969
    From related orgs
    $0
    Other
    $114,904
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,429
    Bonus
    not reported
    Other
    $540
    Deferred
    $87,524
    Nontaxable benefits
    $27,380
    Filer's total
    $332,873

  • Damali Clark

    VP CORP/FINA

    Total calculated
    $325,380
    From this org
    $218,637
    From related orgs
    $0
    Other
    $106,743
    Hours/week
    45 + 20 related

    Schedule J breakdown matched by us

    Base
    $217,395
    Bonus
    not reported
    Other
    $1,242
    Deferred
    $93,970
    Nontaxable benefits
    $12,773
    Filer's total
    $325,380

  • Scott Lee

    MGR-IT

    Total calculated
    $288,804
    From this org
    $181,707
    From related orgs
    $0
    Other
    $107,097
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $178,220
    Bonus
    not reported
    Other
    $3,487
    Deferred
    $80,898
    Nontaxable benefits
    $26,199
    Filer's total
    $288,804

  • Randall Morgan

    MGR-OPERATIO

    Total calculated
    $253,483
    From this org
    $173,793
    From related orgs
    $0
    Other
    $79,690
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $170,975
    Bonus
    not reported
    Other
    $2,818
    Deferred
    $54,156
    Nontaxable benefits
    $25,534
    Filer's total
    $253,483

  • Joel Collier

    MGR-OPERATIO

    Total calculated
    $249,813
    From this org
    $185,657
    From related orgs
    $0
    Other
    $64,156
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $182,838
    Bonus
    not reported
    Other
    $2,819
    Deferred
    $54,833
    Nontaxable benefits
    $9,323
    Filer's total
    $249,813

  • Walton C Montgomery

    VP CENTRAL A

    Total calculated
    $245,181
    From this org
    $181,179
    From related orgs
    $0
    Other
    $64,002
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $178,197
    Bonus
    not reported
    Other
    $2,982
    Deferred
    $38,134
    Nontaxable benefits
    $25,868
    Filer's total
    $245,181

  • Erick Terry

    MGR-ENGINEER

    Total calculated
    $234,351
    From this org
    $163,722
    From related orgs
    $0
    Other
    $70,629
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $162,970
    Bonus
    not reported
    Other
    $752
    Deferred
    $46,208
    Nontaxable benefits
    $24,421
    Filer's total
    $234,351

  • Connie Bainbridge

    MGR-ECON/DEV

    Total calculated
    $226,223
    From this org
    $171,716
    From related orgs
    $0
    Other
    $54,507
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $167,415
    Bonus
    not reported
    Other
    $4,301
    Deferred
    $43,682
    Nontaxable benefits
    $10,825
    Filer's total
    $226,223

  • Mark Gray

    TRUSTEE

    Total calculated
    $55,450
    From this org
    $55,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • James Parnell

    TRUSTEE

    Total calculated
    $50,500
    From this org
    $48,400
    From related orgs
    $2,100
    Other
    $0
    Hours/week
    10 + 0.5 related

  • Van Smith

    VICE CHAIRMA

    Total calculated
    $50,440
    From this org
    $49,450
    From related orgs
    $990
    Other
    $0
    Hours/week
    9

  • Justin Barrett

    TRUSTEE

    Total calculated
    $48,350
    From this org
    $48,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.5 + 1 related

  • Charles Byrd

    CHAIRMAN

    Total calculated
    $47,850
    From this org
    $47,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    4 + 2 related

  • Mark Presnell

    SECRETARY/TR

    Total calculated
    $47,250
    From this org
    $47,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Terry Mitchell

    TRUSTEE

    Total calculated
    $46,850
    From this org
    $46,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

  • Mike Lamar

    TRUSTEE

    Total calculated
    $45,240
    From this org
    $44,000
    From related orgs
    $1,240
    Other
    $0
    Hours/week
    8 + 5 related

  • Nicole Law

    TRUSTEE

    Total calculated
    $44,100
    From this org
    $44,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Chase Riddle

    TRUSTEE

    Total calculated
    $43,900
    From this org
    $41,800
    From related orgs
    $2,100
    Other
    $0
    Hours/week
    8 + 8 related

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 · Independent compensation consultant
  • 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • COOPERATIVE UTILITY SERVICES LLC

    RELATED · UTILITY MT · AL · share of income $1,713,347 · share of assets $4,961,186 · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CENTRAL ALABAMA COOP SERVICES

    ECON. DEV. · AL

  • CENTRAL ACCESS INC

    BROADBAND · AL

Provenance

Return type
form_990
Tax year
2024
Filed
10 April 2025
IRS schema version
2024v5.0
Source object
202511059349301221

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