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Nonprofiteer
← WEST CAROLINA RURAL TELEPHONE COOPERATIVE INC

Form 990 for tax year 2023

Filed by WEST CAROLINA RURAL TELEPHONE COOPERATIVE INC.

Totals

Total revenue
$36,061,652
Total expenses
$34,216,120
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$29,917,780
Investment income
$5,237,947
Other revenue
$905,925
Total assets, end of year
$146,781,683
Total liabilities, end of year
$36,909,485
Net assets or fund balances, end of year
$109,872,198
Program services expenses (Part IX)
$34,216,120
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$34,216,120

Program services were 100.0% 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: OTHER SALES AND SERVICE

    total $18,717,173 · related or exempt $18,717,173

  • 2b · Program service revenue: NETWORK ACCESS REVENUE

    total $8,946,584 · related or exempt $8,946,584

  • 2c · Program service revenue: LOCAL NETWORK SERVICE

    total $2,254,023 · related or exempt $2,254,023

  • 3 · Investment income

    total $4,130,424 · related or exempt $4,130,424

  • 7a · Gross sales of assets other than inventory

    securities $3,578,715

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

    securities $2,471,192

  • 7c · Gain or loss

    securities $1,107,523

  • 7d · Net gain or loss

    total $1,107,523 · related or exempt $1,107,523

  • 11a · Other revenue: OTHER

    total $769,774 · related or exempt $769,774

  • 11b · Other revenue: OTHER NONOPERATING INCOME

    total $58,052 · related or exempt $58,052

  • 11c · Other revenue: INCOME FROM OTHER INVESTMENTS

    total $49,800 · related or exempt $49,800

  • 11d · All other revenue

    total $28,299 · unrelated business $28,299

  • 11e · Other revenue, total

    $905,925

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $9,140,561 · program services $9,140,561

  • 20 · Interest

    total $354,288 · program services $354,288

  • 22 · Depreciation, depletion and amortization

    total $6,888,159 · program services $6,888,159

  • 24a · Other expenses: PLANT SPECIFIC OPERATIO

    total $5,898,856 · program services $5,898,856

  • 24b · Other expenses: CUSTOMER OPERATIONS

    total $4,484,925 · program services $4,484,925

  • 24c · Other expenses: CORPORATE OPERATIONS

    total $3,676,920 · program services $3,676,920

  • 24d · Other expenses: PLANT NON-SPECIFIC OPER

    total $3,218,343 · program services $3,218,343

  • 24e · All other expenses

    total $554,068 · program services $554,068

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,829,396 · end of year $828,425

  • 2 · Savings and temporary cash investments

    beginning of year $129,771 · end of year $24,943

  • 4 · Accounts receivable

    beginning of year $797,448 · end of year $1,288,431

  • 7 · Other notes and loans receivable

    beginning of year $425,880 · end of year $314,760

  • 8 · Inventories for sale or use

    beginning of year $565,281 · end of year $464,149

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,760,790 · end of year $1,443,625

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

    $134,923,943

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

    $90,016,436

  • 10c · Land, buildings and equipment, net

    beginning of year $48,488,210 · end of year $44,907,507

  • 11 · Investments: publicly traded securities

    beginning of year $4,351,102 · end of year $1,203,429

  • 12 · Investments: other securities

    beginning of year -$3,492,411 · end of year -$3,952,248

  • 13 · Investments: program-related

    beginning of year $755,378 · end of year $701,976

  • 14 · Intangible assets

    beginning of year $120,423 · end of year $86,017

  • 15 · Other assets

    beginning of year $88,424,473 · end of year $99,470,669

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,047,588 · end of year $11,013,088

  • 19 · Deferred revenue

    beginning of year $8,858,380 · end of year $7,999,085

  • 23 · Secured mortgages and notes payable

    beginning of year $20,255,808 · end of year $17,897,312

  • 25 · Other liabilities

    beginning of year $2,283,771 · end of year $0

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $108,710,194 · end of year $109,872,198

Mission and programs · 2023

Mission

TO DELIVER QUALITY COMMUNICATION SERVICES AT AFFORDABLE PRICES

Activities or mission (Part I)

WEST CAROLINA RURAL TELEPHONE COOPERATIVE, INC. IS A MEMBER-OWNED PROVIDER OF COMMUNICATIONS SERVICES IN WESTERN SOUTH CAROLINA.

  • PROVIDE QUALITY COMMUNICATION SERVICES TO THE WIDEST NUMBER OF USERS ON A NON-PROFIT, COOPERATIVE BASIS.

    Expenses $34,216,120

As filed on the 2023 return.

Listed in Part VII

  • Westley McAllister

    PRESIDENT

    Total calculated
    $45,246
    From this org
    $45,246
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael Thomas

    VICE PRESIDENT

    Total calculated
    $38,181
    From this org
    $38,181
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jane Stone

    SECRETARY/TREASURER

    Total calculated
    $40,586
    From this org
    $40,586
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Talmadge Bussey

    DIRECTOR

    Total calculated
    $31,909
    From this org
    $31,909
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Lee Logan

    DIRECTOR

    Total calculated
    $34,735
    From this org
    $34,735
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Darren Lewis

    DIRECTOR

    Total calculated
    $33,066
    From this org
    $33,066
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Robert Hester

    DIRECTOR

    Total calculated
    $33,872
    From this org
    $33,872
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Eric McCall

    DIRECTOR

    Total calculated
    $32,844
    From this org
    $32,844
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Aimee Gray

    DIRECTOR

    Total calculated
    $31,701
    From this org
    $31,701
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeff Wilson

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $489,497
    From this org
    $489,497
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $489,497
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $489,497

  • Lance Tade

    CHIEF FINANCIAL OFFICER

    Total calculated
    $342,667
    From this org
    $342,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $342,667
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $342,667

  • Jeff Robinson

    DIRECTOR OF CONSTRUCTION/ENGINEERING

    Total calculated
    $245,855
    From this org
    $245,855
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $245,855
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $245,855

  • Shannon Sears

    DIRECTOR OF COMMERICAL OPERATIONS

    Total calculated
    $207,394
    From this org
    $207,394
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $207,394
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $207,394

  • Russell Clark

    DIRECTOR OF BUSINESS DEVELOPMENT

    Total calculated
    $196,689
    From this org
    $196,689
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $196,689
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $196,689

  • Mary Miller

    COMMUNICATIONS AND MARKETING MANAGER

    Total calculated
    $168,873
    From this org
    $168,873
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $168,873
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $168,873

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.

Disregarded entities

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

  • WEST CAROLINA COMMUNICATIONS LLC

    INTERNET AND VIDEO SERVICES · SC · income $22,953,769 · assets $32,038,902

    Directly controlled by WEST CAROLINA RURAL TELEPHONE COOPERATIVE INC

  • WC FIBER LLC

    COMPETITIVE LOCAL EXCHANGE SERVICES · SC · income $27,041,494 · assets $121,555,098

    Directly controlled by WEST CAROLINA RURAL TELEPHONE COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202423189349308487

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