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Nonprofiteer
← COOSA VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by COOSA VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$50,119,583
Total expenses
$50,119,583
Contributions and grants received
$0
Grants paid
$15,699
Program service revenue
$48,139,307
Investment income
$940,691
Other revenue
$1,039,585
Total assets, end of year
$161,924,550
Total liabilities, end of year
$104,192,488
Net assets or fund balances, end of year
$57,732,062
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

    total $45,500,237 · related or exempt $45,500,237

  • 2b · Program service revenue: G&T and Other Cap Cred

    total $2,639,070 · related or exempt $2,639,070

  • 3 · Investment income

    total $940,691 · unrelated business $912,968 · excluded $27,723

  • 6a · Gross rents

    personal property $1,002,755

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $1,002,755

  • 6d · Net rental income or loss

    total $1,002,755 · excluded $1,002,755

  • 11a · Other revenue: Non Operating Margins

    total $36,830 · excluded $36,830

  • 11e · Other revenue, total

    $36,830

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $15,699

  • 4 · Benefits paid to or for members

    total $6,455,533

  • 5 · Compensation of officers, directors and key employees

    total $552,671

  • 20 · Interest

    total $2,264,683

  • 22 · Depreciation, depletion and amortization

    total $3,598,786

  • 24a · Other expenses: Cost of Power

    total $26,434,575

  • 24b · Other expenses: Distribution Maintenanc

    total $3,984,219

  • 24c · Other expenses: General and Administrat

    total $3,869,072

  • 24d · Other expenses: Customer Service and In

    total $1,585,370

  • 24e · All other expenses

    total $1,358,975

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,216,691 · end of year $1,099,720

  • 4 · Accounts receivable

    beginning of year $4,452,589 · end of year $8,484,189

  • 7 · Other notes and loans receivable

    beginning of year $3,132,395 · end of year $3,213,882

  • 8 · Inventories for sale or use

    beginning of year $2,654,665 · end of year $2,425,038

  • 9 · Prepaid expenses and deferred charges

    beginning of year $456,234 · end of year $84,308

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

    $159,064,558

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

    $33,004,343

  • 10c · Land, buildings and equipment, net

    beginning of year $103,205,881 · end of year $126,060,215

  • 12 · Investments: other securities

    beginning of year $19,816,259 · end of year $19,513,634

  • 15 · Other assets

    beginning of year $829,610 · end of year $1,043,564

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,005,691 · end of year $6,666,011

  • 23 · Secured mortgages and notes payable

    beginning of year $77,252,654 · end of year $95,712,885

  • 25 · Other liabilities

    beginning of year $1,766,849 · end of year $1,813,592

  • 29 · Capital stock, trust principal or current funds

    beginning of year $72,595 · end of year $73,680

  • 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 $52,666,535 · end of year $57,658,382

Mission and programs · 2022

Mission

Coosa Valley Electric Cooperative is a member owned and operated total energy cooperative providing economic and community development while delivering high quality services at competitive rates with competent and well-trained employees adhering to strong and ethical business practices.

  • Coosa Valley Electric Cooperative is a member-owned distribution cooperative which provides electric service to approximately 14,165 members located in Alabama.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mary Land

    Vice President

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Marilyn George Davis

    President

    Total calculated
    $20,450
    From this org
    $20,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Buddy Watson

    Director

    Total calculated
    $15,350
    From this org
    $15,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • John M Davis

    Director

    Total calculated
    $13,900
    From this org
    $13,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Michael Hubbard

    Secretary/Treasurer

    Total calculated
    $23,200
    From this org
    $23,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Sammy Gallman

    Director

    Total calculated
    $22,650
    From this org
    $22,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Christine Garrett

    Director

    Total calculated
    $8,200
    From this org
    $8,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Robert Dixon

    Director

    Total calculated
    $30,900
    From this org
    $30,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kim Maye

    CFO

    Total calculated
    $177,964
    From this org
    $116,954
    From related orgs
    $0
    Other
    $61,010
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $116,954
    Bonus
    $0
    Other
    $0
    Deferred
    $59,365
    Nontaxable benefits
    $1,645
    Filer's total
    $177,964

  • Jon Cullimore

    General Manager

    Total calculated
    $227,057
    From this org
    $164,314
    From related orgs
    $0
    Other
    $62,743
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $164,314
    Bonus
    $0
    Other
    $0
    Deferred
    $61,098
    Nontaxable benefits
    $1,645
    Filer's total
    $227,057

  • Ryan Hart

    Mgr Engineering

    Total calculated
    $199,267
    From this org
    $150,321
    From related orgs
    $0
    Other
    $48,946
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $150,321
    Bonus
    $0
    Other
    $0
    Deferred
    $47,301
    Nontaxable benefits
    $1,645
    Filer's total
    $199,267

  • Aaron Pate

    Asst Operations Mgr

    Total calculated
    $221,924
    From this org
    $154,747
    From related orgs
    $0
    Other
    $67,177
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $154,747
    Bonus
    $0
    Other
    $0
    Deferred
    $65,532
    Nontaxable benefits
    $1,645
    Filer's total
    $221,924

  • Fred Perley

    Crew Chief

    Total calculated
    $179,777
    From this org
    $126,839
    From related orgs
    $0
    Other
    $52,938
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $126,839
    Bonus
    $0
    Other
    $0
    Deferred
    $51,293
    Nontaxable benefits
    $1,645
    Filer's total
    $179,777

  • Robert Smith

    Crew Chief

    Total calculated
    $175,118
    From this org
    $123,522
    From related orgs
    $0
    Other
    $51,596
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $123,522
    Bonus
    $0
    Other
    $0
    Deferred
    $49,951
    Nontaxable benefits
    $1,645
    Filer's total
    $175,118

  • Roy Henderson

    Crew Chief

    Total calculated
    $169,731
    From this org
    $119,686
    From related orgs
    $0
    Other
    $50,045
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $119,686
    Bonus
    $0
    Other
    $0
    Deferred
    $48,400
    Nontaxable benefits
    $1,645
    Filer's total
    $169,731

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 · 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 corporations and trusts

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

  • Coosa Valley Propane Services Inc

    C · Propane Gas Sales · AL · 100% owned · share of income $1,403,374 · share of assets $3,825,868 · controlled entity

    Directly controlled by Coosa Valley Electric Cooperative

  • DeKalb County LP Gas Company Inc

    C · Propane Gas Sales · AL · 100% owned · share of assets $968,902 · controlled entity

    Directly controlled by Coosa Valley Propane Services Inc

  • Coosa Valley Technologies Inc

    C · Telecomunications · AL · 100% owned · share of income $987,883 · share of assets $2,942,628 · controlled entity

    Directly controlled by Coosa Valley Electric Cooperative

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349319355

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