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Nonprofiteer
← CARROLL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by CARROLL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$27,743,504
Total expenses
$26,376,439
Contributions and grants received
$0
Grants paid
$6,000
Program service revenue
$27,722,716
Investment income
$18,369
Other revenue
$2,419
Total assets, end of year
$70,256,703
Total liabilities, end of year
$42,313,573
Net assets or fund balances, end of year
$27,943,130
Program services expenses (Part IX)
$26,376,439
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: SALE OF ELECTRIC SERV

    total $27,199,427 · related or exempt $27,199,427

  • 2b · Program service revenue: PATRONAGE CAPITAL CREDITS

    total $381,922 · related or exempt $381,922

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $141,367 · related or exempt $141,367

  • 3 · Investment income

    total $18,369 · excluded $18,369

  • 6a · Gross rents

    real property $2,419

  • 6c · Rental income or loss

    real property $2,419

  • 6d · Net rental income or loss

    total $2,419 · excluded $2,419

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000 · program services $6,000

  • 5 · Compensation of officers, directors and key employees

    total $444,528 · program services $444,528

  • 7 · Other salaries and wages

    total $23,292 · program services $23,292

  • 8 · Pension plan contributions

    total $87,331 · program services $87,331

  • 9 · Other employee benefits

    total $231,246 · program services $231,246

  • 11g · Fees: other

    total $58,020 · program services $58,020

  • 12 · Advertising and promotion

    total $845 · program services $845

  • 13 · Office expenses

    total $110,193 · program services $110,193

  • 16 · Occupancy

    total $148,681 · program services $148,681

  • 17 · Travel

    total $21,332 · program services $21,332

  • 19 · Conferences, conventions and meetings

    total $20,863 · program services $20,863

  • 20 · Interest

    total $1,614,076 · program services $1,614,076

  • 22 · Depreciation, depletion and amortization

    total $2,045,639 · program services $2,045,639

  • 24a · Other expenses: COST OF POWER

    total $15,283,947 · program services $15,283,947

  • 24b · Other expenses: DISTRIBUTION EXP-MAINT

    total $4,743,578 · program services $4,743,578

  • 24c · Other expenses: TAX EXPENSE

    total $693,334 · program services $693,334

  • 24d · Other expenses: CONSUMER SERVICE EXPENSE

    total $685,534 · program services $685,534

  • 24e · All other expenses

    total $158,000 · program services $158,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $995,604 · end of year $521,292

  • 4 · Accounts receivable

    beginning of year $1,885,537 · end of year $2,566,171

  • 9 · Prepaid expenses and deferred charges

    beginning of year $72,503 · end of year $71,009

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

    $74,190,914

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

    $18,742,886

  • 10c · Land, buildings and equipment, net

    beginning of year $53,133,086 · end of year $55,448,028

  • 13 · Investments: program-related

    beginning of year $11,390,535 · end of year $11,259,531

  • 15 · Other assets

    beginning of year $453,087 · end of year $390,672

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,590,568 · end of year $3,198,757

  • 19 · Deferred revenue

    beginning of year $202,251 · end of year $203,896

  • 23 · Secured mortgages and notes payable

    beginning of year $36,962,901 · end of year $38,910,920

  • 29 · Capital stock, trust principal or current funds

    beginning of year $26,539,947 · end of year $27,212,604

  • 31 · Retained earnings, endowment or other funds

    beginning of year $634,685 · end of year $730,526

Mission and programs · 2024

Mission

CARROLL ELECTRIC COOPERATIVE INC PROVIDES ELECTRICITY TO ITS MEMBERS.

  • CARROLL ELECTRIC COOPERATIVE (CEC) HAS BEEN COMMITTED TO PROVIDING RELIABLE ELECTRIC SERVICE TO CARROLL, COLUMBIANA, HARRISON, JEFFERSON, TUSCARAWAS AND STARK COUNTIES. CEC PROVIDES ELECTRICAL SERVICE TO NEARLY 9,005 CUSTOMERS.

As filed on the 2024 return.

Listed in Part VII

  • Larry Fenbers

    CEO/GENERAL

    Total calculated
    $527,399
    From this org
    $348,778
    From related orgs
    $0
    Other
    $178,621
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $348,778
    Bonus
    not reported
    Other
    not reported
    Deferred
    $178,621
    Nontaxable benefits
    not reported
    Filer's total
    $527,399

  • William Meese

    MANAGER OF E

    Total calculated
    $237,544
    From this org
    $158,639
    From related orgs
    $0
    Other
    $78,905
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,639
    Bonus
    not reported
    Other
    not reported
    Deferred
    $78,905
    Nontaxable benefits
    not reported
    Filer's total
    $237,544

  • Paden Spilker

    CREW LEADER

    Total calculated
    $195,299
    From this org
    $160,920
    From related orgs
    $0
    Other
    $34,379
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $160,920
    Bonus
    not reported
    Other
    not reported
    Deferred
    $34,379
    Nontaxable benefits
    not reported
    Filer's total
    $195,299

  • Austin Jackson

    LINEMAN

    Total calculated
    $185,818
    From this org
    $155,996
    From related orgs
    $0
    Other
    $29,822
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $155,996
    Bonus
    not reported
    Other
    not reported
    Deferred
    $29,822
    Nontaxable benefits
    not reported
    Filer's total
    $185,818

  • Robert Campbell

    LINEMAN

    Total calculated
    $163,519
    From this org
    $120,396
    From related orgs
    $0
    Other
    $43,123
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $120,396
    Bonus
    not reported
    Other
    not reported
    Deferred
    $43,123
    Nontaxable benefits
    not reported
    Filer's total
    $163,519

  • Brian Riggs

    CREW LEADER

    Total calculated
    $138,566
    From this org
    $119,094
    From related orgs
    $0
    Other
    $19,472
    Hours/week
    46

  • Harold Sutton

    CHAIRMAN

    Total calculated
    $13,125
    From this org
    $13,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kevin Tullis

    SECRETARY/TR

    Total calculated
    $12,075
    From this org
    $12,075
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Diane Brown

    DIRECTOR

    Total calculated
    $11,625
    From this org
    $11,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Robert McCort

    DIRECTOR

    Total calculated
    $10,625
    From this org
    $10,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Vincent Carter

    DIRECTOR

    Total calculated
    $10,550
    From this org
    $10,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Tim N Dayton

    DIRECTOR

    Total calculated
    $10,275
    From this org
    $10,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Gary Snode

    VICE CHAIRMA

    Total calculated
    $10,125
    From this org
    $10,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William T Brown

    DIRECTOR

    Total calculated
    $8,925
    From this org
    $8,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William Casper

    DIRECTOR

    Total calculated
    $8,425
    From this org
    $8,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
8 July 2025
IRS schema version
2024v5.0
Source object
202532069349301008

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