Form 990 for tax year 2023
Filed by GEORGIA ENERGY COOPERATIVE AN ELECTRIC MEMBERSHIP CORPORATION.
Totals
- Total revenue
- $130,149,643
- Total expenses
- $130,149,643
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $129,560,951
- Investment income
- $588,692
- Other revenue
- $0
- Total assets, end of year
- $64,553,715
- Total liabilities, end of year
- $35,849,919
- Net assets or fund balances, end of year
- $28,703,796
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $130,149,643
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: OPERATING REVENUE
total $129,560,951 · related or exempt $129,560,951
-
3 · Investment income
total $588,692 · excluded $588,692
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $1,238,985
-
5 · Compensation of officers, directors and key employees
total $568,650
-
7 · Other salaries and wages
total $558,563
-
9 · Other employee benefits
total $191,641
-
20 · Interest
total $638,738
-
22 · Depreciation, depletion and amortization
total $2,244,382
-
24a · Other expenses: POWER SUPPLY EXPENSE
total $120,277,289
-
24b · Other expenses: MAINTENANCE OF PLANT
total $2,356,931
-
24c · Other expenses: GENERAL AND ADMINISTRATIV
total $1,311,983
-
24d · Other expenses: PROPERTY TAXES
total $279,071
-
24e · All other expenses
total $483,410
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $26,974,689 · end of year $13,260,945
-
4 · Accounts receivable
beginning of year $34,251,096 · end of year $12,608,792
-
8 · Inventories for sale or use
beginning of year $644,354 · end of year $1,841,292
-
9 · Prepaid expenses and deferred charges
beginning of year $33,919 · end of year $27,871
-
10a · Land, buildings and equipment: cost or other basis
$75,101,118
-
10b · Land, buildings and equipment: accumulated depreciation
$40,371,150
-
10c · Land, buildings and equipment, net
beginning of year $20,198,377 · end of year $34,729,968
-
15 · Other assets
beginning of year $1,872,377 · end of year $2,084,847
-
17 · Accounts payable and accrued expenses
beginning of year $34,337,952 · end of year $11,907,315
-
19 · Deferred revenue
end of year $8,750,000
-
23 · Secured mortgages and notes payable
beginning of year $16,000,000 · end of year $8,500,000
-
25 · Other liabilities
beginning of year $6,172,049 · end of year $6,692,604
-
29 · Capital stock, trust principal or current funds
beginning of year $1,500 · end of year $1,500
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $666,000 · end of year $666,000
-
31 · Retained earnings, endowment or other funds
beginning of year $26,797,311 · end of year $28,036,296
Mission and programs · 2023
Mission
TO PROVIDE THE BEST POSSIBLE ELECTRICAL ENERGY AND SERVICE TO ALL ITS MEMBERS AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
-
N/A
Expenses $130,149,643
As filed on the 2023 return.
Listed in Part VII
-
Pete NettlesPETE NETTLES
CEO
- Total calculated
- $568,650
- From this org
- $454,063
- From related orgs
- $0
- Other
- $114,587
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $356,737
- Bonus
- $72,000
- Other
- $25,326
- Deferred
- $87,344
- Nontaxable benefits
- $27,243
- Filer's total
- $568,650
-
John E Winskie IIIJOHN E WINSKIE III
VP - POWER S
- Total calculated
- $435,204
- From this org
- $331,026
- From related orgs
- $0
- Other
- $104,178
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $268,216
- Bonus
- $36,000
- Other
- $26,810
- Deferred
- $71,024
- Nontaxable benefits
- $33,154
- Filer's total
- $435,204
-
Art WendaART WENDA
VP - FINANCE
- Total calculated
- $315,000
- From this org
- $227,537
- From related orgs
- $0
- Other
- $87,463
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $213,145
- Bonus
- not reported
- Other
- $14,392
- Deferred
- $54,680
- Nontaxable benefits
- $32,783
- Filer's total
- $315,000
-
Matt BrinsonMATT BRINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Greg BrouiletGREG BROUILET
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Louis CassottaLOUIS CASSOTTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris DillardCHRIS DILLARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bryan FergusonBRYAN FERGUSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris FettesCHRIS FETTES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tony GriffinTONY GRIFFIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Janet GrimsleyJANET GRIMSLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
William HarrisWILLIAM HARRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Stan HillisSTAN HILLIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve HoltSTEVE HOLT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dustin HulseyDUSTIN HULSEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John H Bennett JrJOHN H BENNETT JR
VICE CHAIRMA
- Total calculated
- $0
- Hours/week
- 2
-
Carey LockeCAREY LOCKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John LongJOHN LONG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lavanda LynnLAVANDA LYNN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Laura McGeeLAURA MCGEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Randall MorrisRANDALL MORRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeff MurphyJEFF MURPHY
SEC. / TREAS
- Total calculated
- $0
- Hours/week
- 2
-
Ophelia McCainOPHELIA MCCAIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George McLendonGEORGE MCLENDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Fred McWhorterFRED MCWHORTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Todd PayneTODD PAYNE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joseph RackleyJOSEPH RACKLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kay H ReedKAY H REED
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tim RegisterTIM REGISTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lewis SheffieldLEWIS SHEFFIELD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rene SmithRENE SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tony TuckerTONY TUCKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael WassonMICHAEL WASSON
DIRECTOR
- Total calculated
- $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 · Compensation committee
- 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
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
SOWEGA POWER LLC
POWER GENE · GA · income $5,165,163 · assets $27,297,797
Directly controlled by NA
-
SOWEGA POWER HOLDINGS LLC
HOLDING CO · GA · income $248 · assets $8,843
Directly controlled by NA
-
SOWEGA POWER 100 LLC
POWER GENE · GA · income $2,948,196 · assets $17,671,402
Directly controlled by NA
-
SOWEGA LAND LLC
LAND · GA · income $3,480 · assets $1,142,270
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 June 2024
- IRS schema version
- 2023v5.0
- Source object
- 202441919349301019
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