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Nonprofiteer
← SHELBY ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by SHELBY ELECTRIC COOPERATIVE.

Totals

Total revenue
$38,433,374
Total expenses
$38,433,374
Contributions and grants received
$0
Grants paid
$10,000
Program service revenue
$36,265,354
Investment income
$119,270
Other revenue
$2,048,750
Total assets, end of year
$82,582,936
Total liabilities, end of year
$30,685,582
Net assets or fund balances, end of year
$51,897,354
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 REVENUES

    total $34,562,452 · related or exempt $34,562,452

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,494,290 · related or exempt $1,494,290

  • 2c · Program service revenue: MISC ELECTRIC REVENUE

    total $208,612 · related or exempt $208,612

  • 3 · Investment income

    total $151,122 · excluded $151,122

  • 6a · Gross rents

    real property $64,173 · personal property $9,377

  • 6c · Rental income or loss

    real property $64,173 · personal property $9,377

  • 6d · Net rental income or loss

    total $73,550 · unrelated business $29,256 · excluded $44,294

  • 7a · Gross sales of assets other than inventory

    other assets $5,203

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

    other assets $37,055

  • 7c · Gain or loss

    other assets -$31,852

  • 7d · Net gain or loss

    total -$31,852 · related or exempt -$31,852

  • 11a · Other revenue: OTHER NON OPERATING

    total $1,322,060 · related or exempt $1,322,060

  • 11b · Other revenue: 990-T REVENUE

    total $655,953 · unrelated business $655,953

  • 11c · Other revenue: K-1 ACTIVITY

    total -$2,813 · unrelated business -$2,813

  • 11e · Other revenue, total

    $1,975,200

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000

  • 4 · Benefits paid to or for members

    total $3,618,664

  • 5 · Compensation of officers, directors and key employees

    total $756,683

  • 7 · Other salaries and wages

    total $548,520

  • 20 · Interest

    total $1,149,108

  • 22 · Depreciation, depletion and amortization

    total $2,709,472

  • 24a · Other expenses: COST OF POWER

    total $21,791,561

  • 24b · Other expenses: ADMIN & GENERAL

    total $3,377,535

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $3,090,191

  • 24d · Other expenses: MEMBER SERVICES

    total $1,381,640

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,079,437 · end of year $8,704,331

  • 4 · Accounts receivable

    beginning of year $4,056,528 · end of year $4,156,483

  • 7 · Other notes and loans receivable

    beginning of year $4,773,127 · end of year $3,834,431

  • 8 · Inventories for sale or use

    beginning of year $580,292 · end of year $1,821,996

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,496,975 · end of year $1,326,637

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

    $87,187,751

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

    $46,066,448

  • 10c · Land, buildings and equipment, net

    beginning of year $38,053,965 · end of year $41,121,303

  • 13 · Investments: program-related

    beginning of year $20,901,078 · end of year $21,617,755

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,608,384 · end of year $3,948,928

  • 19 · Deferred revenue

    beginning of year $297,923 · end of year $3,926,382

  • 23 · Secured mortgages and notes payable

    beginning of year $23,915,066 · end of year $21,351,360

  • 25 · Other liabilities

    beginning of year $1,630,254 · end of year $1,458,912

  • 29 · Capital stock, trust principal or current funds

    beginning of year $3,098,620 · end of year $3,399,654

  • 31 · Retained earnings, endowment or other funds

    beginning of year $45,391,155 · end of year $48,497,700

Mission and programs · 2022

Mission

TO PROVIDE RELIABLE ELECTRIC POWER AND RELATED SERVICES TO OUR MEMBERS AT AN AFFORDABLE COST.

  • SHELBY ELECTRIC COOPERATIVE SERVES ALL OR PARTS OF CHRISTIAN, CUMBERLAND, EFINGHAM, FAYETTE, MACON, MONTGOMERY, MOULTRIE, SANGAMON AND SHELBY COUTIES. THE COOPERATIVE SERVES AROUND 10,000 MEMBER-OWNERS WITH OVER 2,200 MILES OF ENERGIZED LINE.

As filed on the 2022 return.

Listed in Part VII

  • Josh M Shallenberger

    CEO

    Total calculated
    $401,083
    From this org
    $249,231
    From related orgs
    $0
    Other
    $151,852
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $249,231
    Bonus
    not reported
    Other
    not reported
    Deferred
    $130,682
    Nontaxable benefits
    $21,170
    Filer's total
    $401,083

  • Brian R Chevalier

    OPERATIONS

    Total calculated
    $200,603
    From this org
    $123,275
    From related orgs
    $0
    Other
    $77,328
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $123,275
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,473
    Nontaxable benefits
    $19,855
    Filer's total
    $200,603

  • Roger W Jones

    OPERATIONS

    Total calculated
    $194,752
    From this org
    $122,061
    From related orgs
    $0
    Other
    $72,691
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $122,061
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,020
    Nontaxable benefits
    $19,671
    Filer's total
    $194,752

  • James A Matlock

    COO

    Total calculated
    $163,086
    From this org
    $138,708
    From related orgs
    $0
    Other
    $24,378
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $138,708
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,246
    Nontaxable benefits
    $20,132
    Filer's total
    $163,086

  • Terry L Oldham

    OPERATIONS

    Total calculated
    $153,165
    From this org
    $129,286
    From related orgs
    $0
    Other
    $23,879
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $129,286
    Bonus
    not reported
    Other
    not reported
    Deferred
    $3,880
    Nontaxable benefits
    $19,999
    Filer's total
    $153,165

  • Troy L Hatfield

    CONTROLLER

    Total calculated
    $146,414
    From this org
    $97,059
    From related orgs
    $0
    Other
    $49,355
    Hours/week
    45

  • Robert Holthaus

    DIRECTOR

    Total calculated
    $12,800
    From this org
    $12,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brent Lively

    DIRECTOR

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Scott Ohmes

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brian Halbrook

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Greg Mackling

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Keown

    DIRECTOR

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Larry Durbin

    DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Gardner

    DIRECTOR

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Rob Bullock

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Katie Ohmes

    DIRECTOR

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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 · Written employment contract
  • 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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SHELBY FIBER LLC

    FIBER · IL · income $664 · assets $3,044,804

    Directly controlled by SHELBY ELE

Related corporations and trusts

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

  • SHELBY ENERGY COMPANY

    C CORP · PROPANE SA · IL · 100% owned · share of income $247,346 · share of assets $2,270,176 · controlled entity

    Directly controlled by SHELBY ELECTRIC COOP

  • KASCOM INC

    C CORP · SALES · IL · 100% owned · share of income -$75 · controlled entity

    Directly controlled by SHELBY ELECTRIC COOP

Provenance

Return type
form_990
Tax year
2022
Filed
2 October 2023
IRS schema version
2022v5.0
Source object
202302759349302110

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