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Nonprofiteer
← POWELL VALLEY ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by POWELL VALLEY ELECTRIC COOPERATIVE.

Totals

Total revenue
$74,424,587
Total expenses
$71,531,457
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$72,083,507
Investment income
$2,263,988
Other revenue
$77,092
Total assets, end of year
$118,784,831
Total liabilities, end of year
$28,346,770
Net assets or fund balances, end of year
$90,438,061
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: ELECTRIC SALES REVENUE

    total $67,509,786 · related or exempt $67,509,786

  • 2b · Program service revenue: MISCEALLANEOUS ELECTRIC REVENUE

    total $2,925,331 · related or exempt $2,925,331

  • 2c · Program service revenue: FIBER BUILDOUT

    total $1,648,390 · related or exempt $1,648,390

  • 3 · Investment income

    total $2,263,988 · excluded $2,263,988

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $77,092 · related or exempt $77,092

  • 11e · Other revenue, total

    $77,092

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $214,151

  • 7 · Other salaries and wages

    total $6,259,704

  • 9 · Other employee benefits

    total $25,855

  • 11a · Fees: management

    total $28,375

  • 11b · Fees: legal

    total $7,787

  • 11c · Fees: accounting

    total $27,600

  • 11g · Fees: other

    total $614

  • 12 · Advertising and promotion

    total $227,498

  • 13 · Office expenses

    total $331,358

  • 16 · Occupancy

    total $44,287

  • 17 · Travel

    total $50

  • 19 · Conferences, conventions and meetings

    total $62,659

  • 20 · Interest

    total $427,679

  • 22 · Depreciation, depletion and amortization

    total $4,890,559

  • 23 · Insurance

    total $238,878

  • 24a · Other expenses: PURCHASED POWER

    total $53,240,517

  • 24b · Other expenses: OPERATING EXPENSE

    total $3,975,865

  • 24c · Other expenses: BILLING

    total $932,050

  • 24d · Other expenses: COMPANY DUES

    total $206,027

  • 24e · All other expenses

    total $389,944

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,900 · end of year $2,901

  • 2 · Savings and temporary cash investments

    beginning of year $6,787,240 · end of year $5,966,083

  • 4 · Accounts receivable

    beginning of year $31,651,408 · end of year $32,714,304

  • 7 · Other notes and loans receivable

    beginning of year $2,505,719 · end of year $2,347,817

  • 8 · Inventories for sale or use

    beginning of year $4,818,297 · end of year $2,839,238

  • 9 · Prepaid expenses and deferred charges

    beginning of year $648,222 · end of year $562,779

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

    $148,775,970

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

    $80,728,856

  • 10c · Land, buildings and equipment, net

    beginning of year $65,494,376 · end of year $68,047,114

  • 11 · Investments: publicly traded securities

    beginning of year $1,075,290 · end of year $1,075,290

  • 15 · Other assets

    beginning of year $4,434,174 · end of year $5,229,305

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,571,165 · end of year $15,622,061

  • 19 · Deferred revenue

    beginning of year $9,173,120 · end of year $7,503,030

  • 23 · Secured mortgages and notes payable

    beginning of year $6,755,118 · end of year $5,078,781

  • 25 · Other liabilities

    beginning of year $99,751 · end of year $142,898

  • 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 $127,240 · end of year $128,870

  • 31 · Retained earnings, endowment or other funds

    beginning of year $87,691,232 · end of year $90,309,191

Mission and programs · 2023

Mission

DISTRIBUTION OF TVA-GENERATED POWER.

  • ELECTRIC COOPERATIVE IN CONJUNCTION WITH RUS PROGRAMS, DISTRIBUTION OF TVA GENERATED POWER.

As filed on the 2023 return.

Listed in Part VII

  • Michael Shockley

    BOARD DIRECTOR

    Total calculated
    $12,433
    From this org
    $1,200
    From related orgs
    $0
    Other
    $11,233
    Hours/week
    2

  • Bill Surber

    BOARD DIRECTOR

    Total calculated
    $17,122
    From this org
    $975
    From related orgs
    $0
    Other
    $16,147
    Hours/week
    4

  • Tracey Sharp

    BOARD DIRECTOR

    Total calculated
    $7,690
    From this org
    $1,875
    From related orgs
    $0
    Other
    $5,815
    Hours/week
    4

  • J Allen Parkey

    BOARD DIRECTOR

    Total calculated
    $6,865
    From this org
    $1,050
    From related orgs
    $0
    Other
    $5,815
    Hours/week
    2

  • Gary L Russell

    BOARD DIRECTOR

    Total calculated
    $6,565
    From this org
    $750
    From related orgs
    $0
    Other
    $5,815
    Hours/week
    2

  • Lena Short

    BOARD DIRECTOR

    Total calculated
    $6,865
    From this org
    $1,050
    From related orgs
    $0
    Other
    $5,815
    Hours/week
    2

  • Roger A Ball

    BOARD PRESIDENT

    Total calculated
    $6,412
    From this org
    $750
    From related orgs
    $0
    Other
    $5,662
    Hours/week
    2

  • David T Kindle

    BOARD VICE PRESIDENT

    Total calculated
    $3,870
    From this org
    $300
    From related orgs
    $0
    Other
    $3,570
    Hours/week
    1

  • Judy Robertson

    BOARD SECRETARY/TREASURER

    Total calculated
    $6,964
    From this org
    $1,200
    From related orgs
    $0
    Other
    $5,764
    Hours/week
    4

  • Logan Shepard

    BOARD

    Total calculated
    $4,242
    From this org
    $4,000
    From related orgs
    $0
    Other
    $242
    Hours/week
    2

  • Michael Coppock

    GENERAL MANAGER

    Total calculated
    $218,433
    From this org
    $201,001
    From related orgs
    $0
    Other
    $17,432
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $201,001
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,432
    Filer's total
    $218,433

  • Joey Southern

    AREA SUPERVISOR

    Total calculated
    $146,899
    From this org
    $134,890
    From related orgs
    $0
    Other
    $12,009
    Hours/week
    40

  • Bobby D Johnson

    FIRST CLASS LINEMAN

    Total calculated
    $153,026
    From this org
    $136,351
    From related orgs
    $0
    Other
    $16,675
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $136,351
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,675
    Filer's total
    $153,026

  • Charles S Goodin

    ASSISTANT GENERAL MANAGER

    Total calculated
    $172,198
    From this org
    $159,960
    From related orgs
    $0
    Other
    $12,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,960
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,238
    Filer's total
    $172,198

  • Michael Loper

    FIRST CLASS LINEMAN

    Total calculated
    $153,559
    From this org
    $137,073
    From related orgs
    $0
    Other
    $16,486
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $137,073
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,486
    Filer's total
    $153,559

  • Travis Tolliver

    DIRECTOR OF OPERATIONS

    Total calculated
    $164,267
    From this org
    $147,265
    From related orgs
    $0
    Other
    $17,002
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,265
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,002
    Filer's total
    $164,267

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

None.

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
13 January 2025
IRS schema version
2023v6.0
Source object
202500249349300335

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