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Nonprofiteer
← PIONEER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by PIONEER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$32,980,000
Total expenses
$33,100,489
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$32,613,026
Investment income
$164,272
Other revenue
$202,702
Total assets, end of year
$88,712,386
Total liabilities, end of year
$59,133,752
Net assets or fund balances, end of year
$29,578,634
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: Sales of electricity

    total $32,040,127 · related or exempt $32,040,127

  • 2b · Program service revenue: Patronage allocations

    total $572,899 · related or exempt $572,899

  • 3 · Investment income

    total $106,746 · excluded $106,746

  • 6a · Gross rents

    personal property $168,873

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $168,873

  • 6d · Net rental income or loss

    total $168,873 · excluded $168,873

  • 7a · Gross sales of assets other than inventory

    other assets $57,526

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

    other assets $0

  • 7c · Gain or loss

    other assets $57,526

  • 7d · Net gain or loss

    total $57,526 · excluded $57,526

  • 11a · Other revenue: Non-operating Income

    total $33,829 · related or exempt $33,829

  • 11e · Other revenue, total

    $33,829

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $354,548

  • 5 · Compensation of officers, directors and key employees

    total $985,858

  • 20 · Interest

    total $2,028,496

  • 22 · Depreciation, depletion and amortization

    total $3,310,441

  • 24a · Other expenses: Cost of power

    total $15,407,980

  • 24b · Other expenses: Distribution - Maintena

    total $5,619,723

  • 24c · Other expenses: Administrative & genera

    total $1,670,606

  • 24d · Other expenses: Distribution - Operatio

    total $1,423,104

  • 24e · All other expenses

    total $2,299,733

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,259,107 · end of year $2,843,066

  • 2 · Savings and temporary cash investments

    end of year $1,000,000

  • 4 · Accounts receivable

    beginning of year $2,962,614 · end of year $3,220,983

  • 7 · Other notes and loans receivable

    beginning of year $48,375 · end of year $48,375

  • 8 · Inventories for sale or use

    beginning of year $542,263 · end of year $608,242

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,912,875 · end of year $4,655,794

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

    $94,091,242

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

    $35,853,518

  • 10c · Land, buildings and equipment, net

    beginning of year $56,448,925 · end of year $58,237,724

  • 13 · Investments: program-related

    beginning of year $15,964,697 · end of year $16,394,743

  • 15 · Other assets

    beginning of year $2,219,309 · end of year $1,703,459

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,516,904 · end of year $2,228,061

  • 19 · Deferred revenue

    beginning of year $1,000,000 · end of year $500,000

  • 23 · Secured mortgages and notes payable

    beginning of year $53,858,863 · end of year $54,411,721

  • 25 · Other liabilities

    beginning of year $2,003,033 · end of year $1,993,970

  • 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 $29,979,365 · end of year $29,578,634

Mission and programs · 2023

Mission

To safely deliver reliable service, in a timely and courteous manner, at the lowest possible cost to our members.

  • Pioneer Electric Cooperative, Inc. has grown to cover the rural areas of four South Central Alabama counties, serving approximately 10,800 members with 13,000 meters. The service area of Pioneer Electric Cooperative, Inc. primarily covered Butler, Lowndes, Dallas and Wilcox counties. Its service area also extended into five other counties which included parts of Autauga, Crenshaw, Covington, Conecuh and Monroe counties. Utilizing 2,775 miles of electric distribution lines, Pioneer Electric Cooperative, Inc. sold 170,102,127 kilowatt hours of electric energy to its cooperative members in 2023.

As filed on the 2023 return.

Listed in Part VII

  • John Henry

    Trustee - President

    Total calculated
    $33,700
    From this org
    $33,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.4

  • Melvia Carter

    Trustee - Vice President

    Total calculated
    $28,650
    From this org
    $28,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • David Lyon Jr

    Trustee

    Total calculated
    $26,150
    From this org
    $26,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Thomas Duncan

    Trustee

    Total calculated
    $26,150
    From this org
    $26,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.7

  • Timothy Strong

    Trustee

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.9

  • Glenn E Branum

    Trustee - Secretary

    Total calculated
    $26,900
    From this org
    $26,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Melvin Dale

    Trustee

    Total calculated
    $23,250
    From this org
    $23,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.4

  • Linda Arnold

    Trustee

    Total calculated
    $28,650
    From this org
    $28,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Joshua C Gardner

    Trustee

    Total calculated
    $27,300
    From this org
    $27,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.8

  • William B Farrar

    Trustee

    Total calculated
    $30,150
    From this org
    $30,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.9

  • Terry Moseley

    General Manager

    Total calculated
    $300,917
    From this org
    $227,219
    From related orgs
    $0
    Other
    $73,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,986
    Bonus
    $0
    Other
    $9,233
    Deferred
    $50,806
    Nontaxable benefits
    $22,892
    Filer's total
    $300,917

  • Lauren Smith

    VP of Accounting & Finance

    Total calculated
    $204,725
    From this org
    $144,345
    From related orgs
    $0
    Other
    $60,380
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,924
    Bonus
    $0
    Other
    $421
    Deferred
    $38,474
    Nontaxable benefits
    $21,906
    Filer's total
    $204,725

  • Phillip Baker

    VP of Engineering and Oper

    Total calculated
    $223,465
    From this org
    $162,607
    From related orgs
    $0
    Other
    $60,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,112
    Bonus
    $0
    Other
    $1,495
    Deferred
    $38,919
    Nontaxable benefits
    $21,939
    Filer's total
    $223,465

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 · 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

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
2023
Filed
3 October 2024
IRS schema version
2023v5.1
Source object
202442919349300619

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