Form 990 for tax year 2024
Filed by GARKANE ENERGY COOPERATIVE INC.
Totals
- Total revenue
- $33,854,612
- Total expenses
- $31,926,141
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $32,514,643
- Investment income
- $182,463
- Other revenue
- $1,157,506
- Total assets, end of year
- $113,888,026
- Total liabilities, end of year
- $57,397,767
- Net assets or fund balances, end of year
- $56,490,259
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $31,926,141
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
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: Mem Connect Fees
total $88,604 · related or exempt $88,604
-
2b · Program service revenue: Mem Electricity Sales
total $31,905,658 · related or exempt $31,905,658
-
2c · Program service revenue: Mem Impact Fees
total $351,624 · related or exempt $351,624
-
2d · Program service revenue: Mem Late Fees
total $156,772 · related or exempt $156,772
-
2e · Program service revenue: Mem Merchandise Sales
total $11,985 · related or exempt $11,985
-
3 · Investment income
total $52,314 · related or exempt $52,314
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $106,466
-
6c · Rental income or loss
real property $106,466
-
6d · Net rental income or loss
total $106,466 · related or exempt $106,466
-
7a · Gross sales of assets other than inventory
other assets $130,149
-
7c · Gain or loss
other assets $130,149
-
7d · Net gain or loss
total $130,149 · related or exempt $130,149
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Capital Credits
total $219,264 · related or exempt $219,264
-
11b · Other revenue: Other Electric Revenue
total $208,506 · related or exempt $208,506
-
11c · Other revenue: Wheeling
total $601,805 · related or exempt $601,805
-
11d · All other revenue
total $21,465 · related or exempt $21,465
-
11e · Other revenue, total
$1,051,040
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $1,773,206 · management and general $1,773,206
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,387,004 · management and general $1,387,004
-
8 · Pension plan contributions
total $1,971,856 · management and general $1,971,856
-
9 · Other employee benefits
total $262,616 · management and general $262,616
-
10 · Payroll taxes
total $767,251 · management and general $767,251
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $66,893 · management and general $66,893
-
11c · Fees: accounting
total $20,195 · management and general $20,195
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $74,474 · management and general $74,474
-
12 · Advertising and promotion
total $447,574 · management and general $447,574
-
13 · Office expenses
total $1,111,585 · management and general $1,111,585
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $131,671 · management and general $131,671
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $962,538 · management and general $962,538
-
20 · Interest
total $1,842,395 · management and general $1,842,395
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $4,503,535 · management and general $4,503,535
-
23 · Insurance
total $296,207 · management and general $296,207
-
24a · Other expenses: Purchased Power/Production
total $13,475,696 · management and general $13,475,696
-
24b · Other expenses: Customer Assistance
total $893,842 · management and general $893,842
-
24c · Other expenses: Maintenance of General Plant
total $590,881 · management and general $590,881
-
24d · Other expenses: Taxes & Licenses
total $536,133 · management and general $536,133
-
24e · All other expenses
total $810,589 · management and general $810,589
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,481,708 · end of year $3,718,816
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $6,497,109 · end of year $6,565,379
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $6,860,086 · end of year $8,354,163
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$160,317,252
-
10b · Land, buildings and equipment: accumulated depreciation
$74,400,741
-
10c · Land, buildings and equipment, net
beginning of year $80,146,275 · end of year $85,916,511
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $7,688,426 · end of year $9,333,157
-
17 · Accounts payable and accrued expenses
beginning of year $2,858,886 · end of year $5,431,273
-
23 · Secured mortgages and notes payable
beginning of year $38,586,414 · end of year $44,318,423
-
25 · Other liabilities
beginning of year $7,108,503 · end of year $7,648,071
-
31 · Retained earnings, endowment or other funds
beginning of year $56,119,801 · end of year $56,490,259
Mission and programs · 2024
Mission
Garkane Energy is a member-owned rural electric cooperative and provides electricity to cooperative member/consumers.
-
The taxpayer did not have separate program service expenses. All expenses listed in Part IX - Statement of Functional Expenses were listed under Column C, Management and General Expenses. There were no expenses listed in Column B, Program Service Expenses. The total for Part IX - Statement of Functional Expenses, Column B, Program Service Expenses and the total for Part III - Statement of Program Service Accomplishments equal and are both zero.
As filed on the 2024 return.
Listed in Part VII
-
Daniel McClendon
CEO/General Manager
- Total calculated
- $288,234
- From this org
- $288,234
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $288,234
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $288,234
-
Bryant Shakespear
COO/Engineering Manager
- Total calculated
- $261,348
- From this org
- $261,348
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $261,348
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $261,348
-
Marcus V Lewis
CFO
- Total calculated
- $181,260
- From this org
- $181,260
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $181,260
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $181,260
-
Daniel Thompson
Subst. Engineer
- Total calculated
- $170,948
- From this org
- $170,948
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $170,948
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $170,948
-
Justin M Miller
Line Super.
- Total calculated
- $159,790
- From this org
- $159,790
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $159,790
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $159,790
-
Jeffery J VaughnJEFFERY J VAUGHN
Kane Area Mngr
- Total calculated
- $154,808
- From this org
- $154,808
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,808
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $154,808
-
Gerry J Hoyt
Safety Manager
- Total calculated
- $151,852
- From this org
- $151,852
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,852
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $151,852
-
Robert C Wolfley
Garfield Area Mngr
- Total calculated
- $148,341
- From this org
- $148,341
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Guy Timpson
Director
- Total calculated
- $35,840
- From this org
- $35,840
- From related orgs
- $0
- Other
- $0
- Hours/week
- 7
-
Ronald W Cazier
President
- Total calculated
- $29,590
- From this org
- $29,590
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
George A Thompson
Treasurer
- Total calculated
- $23,936
- From this org
- $23,936
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Terry J Griffiths
Director
- Total calculated
- $23,748
- From this org
- $23,748
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Raymond A Clark
Treasurer
- Total calculated
- $23,507
- From this org
- $23,507
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Chad E Williams
Director
- Total calculated
- $21,620
- From this org
- $21,620
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Rodney R Ence
Director
- Total calculated
- $20,947
- From this org
- $20,947
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Reed L Munson
Director
- Total calculated
- $20,494
- From this org
- $20,494
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Andrew D Gant
Director
- Total calculated
- $20,221
- From this org
- $20,221
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
William G Hammon
Director
- Total calculated
- $19,045
- From this org
- $19,045
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Tracy Potter
Vice President
- Total calculated
- $17,677
- From this org
- $17,677
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
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
- 1a · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 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
The filer's explanations (Part III)
- Part I, Line 1a: Relevant information in regards to selections on 1a.
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.
-
Garkane Propane Inc
C-Corp · LP Gas Sales · UT · 100% owned
Directly controlled by Garkane Energy Cooperative
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 31 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533049349301588
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