Skip to content
Nonprofiteer
← WOODRUFF ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2023

Filed by WOODRUFF ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$53,595,538
Total expenses
$53,754,933
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$53,335,814
Investment income
$533,820
Other revenue
-$274,096
Total assets, end of year
$230,762,093
Total liabilities, end of year
$134,123,038
Net assets or fund balances, end of year
$96,639,055
Program services expenses (Part IX)
$53,754,933
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$53,754,933

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: OPERATING REVENUES

    total $50,294,828 · related or exempt $50,294,828

  • 2b · Program service revenue: G&T AND OTHER CAPITAL CREDITS

    total $2,067,737 · related or exempt $2,067,737

  • 2c · Program service revenue: ENLIGHTENED BY WECC

    total $973,249 · unrelated business $973,249

  • 3 · Investment income

    total $533,820 · related or exempt $533,820

  • 10a · Gross sales of inventory

    $130,522

  • 10b · Cost of goods sold

    $81,904

  • 10c · Net income from sales of inventory

    total $48,618 · related or exempt $48,618

  • 11a · Other revenue: INCOME FROM SUBSIDIARY

    total -$322,714 · related or exempt -$322,714

  • 11e · Other revenue, total

    -$322,714

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,079,847 · program services $6,079,847

  • 5 · Compensation of officers, directors and key employees

    total $1,132,684 · program services $1,132,684

  • 7 · Other salaries and wages

    total $5,345,406 · program services $5,345,406

  • 11g · Fees: other

    total $31,326,350 · program services $31,326,350

  • 20 · Interest

    total $3,848,042 · program services $3,848,042

  • 22 · Depreciation, depletion and amortization

    total $6,022,604 · program services $6,022,604

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $970,379 · end of year $460,209

  • 2 · Savings and temporary cash investments

    beginning of year $8,586,879 · end of year $10,563,012

  • 4 · Accounts receivable

    beginning of year $3,697,760 · end of year $4,226,551

  • 8 · Inventories for sale or use

    beginning of year $1,784,188 · end of year $2,125,029

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,909,282 · end of year $1,671,536

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

    $239,934,976

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

    $48,817,500

  • 10c · Land, buildings and equipment, net

    beginning of year $168,884,060 · end of year $191,117,476

  • 12 · Investments: other securities

    beginning of year $20,387,547 · end of year $20,298,969

  • 15 · Other assets

    beginning of year $269,012 · end of year $299,311

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,285,929 · end of year $1,910,407

  • 23 · Secured mortgages and notes payable

    beginning of year $105,959,091 · end of year $126,801,489

  • 25 · Other liabilities

    beginning of year $5,425,557 · end of year $5,411,142

  • 29 · Capital stock, trust principal or current funds

    beginning of year $206,220 · end of year $205,640

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $83,600,471 · end of year $86,751,310

  • 31 · Retained earnings, endowment or other funds

    beginning of year $8,011,839 · end of year $9,682,105

Mission and programs · 2023

Mission

TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

  • PROVIDE ELECTRICITY - RURAL AREAS, 24,329 TOTAL SERVICES IN PLACE AT YEAR END.

    Expenses $53,754,933

As filed on the 2023 return.

Listed in Part VII

  • Michael L Swan

    PRESIDENT/CE

    Total calculated
    $393,977
    From this org
    $264,966
    From related orgs
    $0
    Other
    $129,011
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $264,966
    Bonus
    not reported
    Other
    not reported
    Deferred
    $129,011
    Nontaxable benefits
    not reported
    Filer's total
    $393,977

  • Ronald L Cockmon

    VP-OFFICE SE

    Total calculated
    $272,921
    From this org
    $174,640
    From related orgs
    $0
    Other
    $98,281
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $174,640
    Bonus
    not reported
    Other
    not reported
    Deferred
    $98,281
    Nontaxable benefits
    not reported
    Filer's total
    $272,921

  • Jimmy R Cook

    VP-ENGINEERI

    Total calculated
    $238,592
    From this org
    $157,941
    From related orgs
    $0
    Other
    $80,651
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,941
    Bonus
    not reported
    Other
    not reported
    Deferred
    $80,651
    Nontaxable benefits
    not reported
    Filer's total
    $238,592

  • Glenn M Kelley

    VP-INFORMATI

    Total calculated
    $226,861
    From this org
    $142,650
    From related orgs
    $0
    Other
    $84,211
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,650
    Bonus
    not reported
    Other
    not reported
    Deferred
    $84,211
    Nontaxable benefits
    not reported
    Filer's total
    $226,861

  • Rodney Kelso

    VP - OPERATI

    Total calculated
    $223,097
    From this org
    $140,573
    From related orgs
    $0
    Other
    $82,524
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,573
    Bonus
    not reported
    Other
    not reported
    Deferred
    $82,524
    Nontaxable benefits
    not reported
    Filer's total
    $223,097

  • Edward Milton

    DISTRICT MAN

    Total calculated
    $190,274
    From this org
    $117,324
    From related orgs
    $0
    Other
    $72,950
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $117,324
    Bonus
    not reported
    Other
    not reported
    Deferred
    $72,950
    Nontaxable benefits
    not reported
    Filer's total
    $190,274

  • Norma Hawkins

    VP OF HUMAN

    Total calculated
    $184,040
    From this org
    $121,898
    From related orgs
    $0
    Other
    $62,142
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $121,898
    Bonus
    not reported
    Other
    not reported
    Deferred
    $62,142
    Nontaxable benefits
    not reported
    Filer's total
    $184,040

  • Kevin Scott

    VP - CORPORA

    Total calculated
    $183,543
    From this org
    $112,946
    From related orgs
    $0
    Other
    $70,597
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $112,946
    Bonus
    not reported
    Other
    not reported
    Deferred
    $70,597
    Nontaxable benefits
    not reported
    Filer's total
    $183,543

  • Ab Thompson Jr

    DIRECTOR

    Total calculated
    $34,179
    From this org
    $34,179
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.46

  • Jerry Brown

    DIRECTOR

    Total calculated
    $32,738
    From this org
    $32,738
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.08

  • Charles C Burrow III

    DIRECTOR

    Total calculated
    $30,726
    From this org
    $30,726
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.38

  • Joe Whittenton III

    DIRECTOR

    Total calculated
    $29,325
    From this org
    $29,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.46

  • Shelia Banks

    DIRECTOR

    Total calculated
    $27,344
    From this org
    $27,344
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.38

  • W Wayne Beadles

    DIRECTOR

    Total calculated
    $25,179
    From this org
    $25,179
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.69

  • Jimmy N Bickerstaff

    DIRECTOR

    Total calculated
    $24,179
    From this org
    $24,179
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.53

  • Brent Ponder

    DIRECTOR

    Total calculated
    $17,762
    From this org
    $17,762
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.23

  • Bill Rushing

    DIRECTOR

    Total calculated
    $5,762
    From this org
    $5,762
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.54

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.

  • ENLIGHTENED BY WOODRUFF ELECTRIC LL

    BROADBAND · AR · income $932,438 · assets $4,021,352

    Directly controlled by WECC WOODRUFF ELECTRIC COOP CORP

Provenance

Return type
form_990
Tax year
2023
Filed
31 October 2024
IRS schema version
2023v5.0
Source object
202423119349301112

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.