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Nonprofiteer
← SAND MOUNTAIN ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by SAND MOUNTAIN ELECTRIC COOPERATIVE.

Totals

Total revenue
$81,148,360
Total expenses
$81,032,769
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$79,699,031
Investment income
$206,252
Other revenue
$1,243,077
Total assets, end of year
$121,795,571
Total liabilities, end of year
$47,264,369
Net assets or fund balances, end of year
$74,531,202
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$81,032,769

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: ELECTRIC SALES

    total $79,699,031 · related or exempt $79,699,031

  • 3 · Investment income

    total $206,252 · related or exempt $206,252

  • 6a · Gross rents

    personal property $1,243,077

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $1,243,077

  • 6d · Net rental income or loss

    total $1,243,077 · related or exempt $1,243,077

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,195,059

  • 7 · Other salaries and wages

    total $7,241,715

  • 20 · Interest

    total $1,338,109

  • 22 · Depreciation, depletion and amortization

    total $6,085,235

  • 24a · Other expenses: COST OF POWER

    total $55,620,060

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $5,336,425

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $3,713,783

  • 24d · Other expenses: TAX EXPENSE

    total $2,637,295

  • 24e · All other expenses

    total -$2,134,912

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $637,638 · end of year $989,544

  • 4 · Accounts receivable

    beginning of year $7,143,787 · end of year $8,003,979

  • 8 · Inventories for sale or use

    beginning of year $990,452 · end of year $1,027,159

  • 9 · Prepaid expenses and deferred charges

    beginning of year $702,866 · end of year $693,913

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

    $184,742,240

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

    $76,196,696

  • 10c · Land, buildings and equipment, net

    beginning of year $105,829,679 · end of year $108,545,544

  • 13 · Investments: program-related

    beginning of year $2,504,173 · end of year $2,533,819

  • 15 · Other assets

    beginning of year $29,622 · end of year $1,613

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,448,584 · end of year $13,049,117

  • 23 · Secured mortgages and notes payable

    beginning of year $26,402,270 · end of year $28,459,424

  • 25 · Other liabilities

    beginning of year $5,657,610 · end of year $5,755,828

  • 29 · Capital stock, trust principal or current funds

    beginning of year $542,610 · end of year $554,050

  • 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 $73,787,143 · end of year $73,977,152

Mission and programs · 2023

Mission

TO PROVIDE ELECTRIC SERVICE TO THE PEOPLE IN RURAL AREAS AT THE LOWEST COST POSSIBLE, CONSISTENT WITH SOUND BUSINESS PRACTICES.

Activities or mission (Part I)

THE COOPERATIVE PROVIDES ELECTRICITY TO ITS MEMBERS

  • TO PROVIDE ELECTRICITY TO ITS 33,375 CUSTOMERS.

    Expenses $81,032,769 · Revenue $79,699,031

As filed on the 2023 return.

Listed in Part VII

  • David Henderson

    PRESIDENT

    Total calculated
    $22,680
    From this org
    $22,680
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Larry G Godwin

    VICE-PRESIDENT

    Total calculated
    $32,412
    From this org
    $32,412
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brad Gilbert

    TRUSTEE

    Total calculated
    $32,486
    From this org
    $32,486
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Roland Hendon

    SECRETARY/TREASURER

    Total calculated
    $25,129
    From this org
    $25,129
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Danny Lacey

    TRUSTEE

    Total calculated
    $33,236
    From this org
    $33,236
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Luke Freeman

    TRUSTEE

    Total calculated
    $22,680
    From this org
    $22,680
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Randy L Bailey

    TRUSTEE

    Total calculated
    $33,236
    From this org
    $33,236
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Terry Smith

    TRUSTEE

    Total calculated
    $17,020
    From this org
    $17,020
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brent Thomas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Mark Malone

    CEO/GENERAL MANAGER

    Total calculated
    $361,951
    From this org
    $269,923
    From related orgs
    $0
    Other
    $92,028
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $269,923
    Bonus
    $0
    Other
    $0
    Deferred
    $67,262
    Nontaxable benefits
    $24,766
    Filer's total
    $361,951

  • Tyler Cooper

    CFO/MANAGER OF FINANCE

    Total calculated
    $198,690
    From this org
    $157,593
    From related orgs
    $0
    Other
    $41,097
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $157,593
    Bonus
    $0
    Other
    $0
    Deferred
    $16,331
    Nontaxable benefits
    $24,766
    Filer's total
    $198,690

  • Kevin Anderson

    COO

    Total calculated
    $379,797
    From this org
    $216,986
    From related orgs
    $0
    Other
    $162,811
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $216,986
    Bonus
    $0
    Other
    $0
    Deferred
    $138,045
    Nontaxable benefits
    $24,766
    Filer's total
    $379,797

  • Diane B Hale

    MANAGER OF MEMBER SERVICES

    Total calculated
    $198,480
    From this org
    $141,087
    From related orgs
    $0
    Other
    $57,393
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $141,087
    Bonus
    $0
    Other
    $0
    Deferred
    $32,627
    Nontaxable benefits
    $24,766
    Filer's total
    $198,480

  • Larry Coots

    OPERATIONS SUPERINTENDENT

    Total calculated
    $285,694
    From this org
    $145,822
    From related orgs
    $0
    Other
    $139,872
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $145,822
    Bonus
    $0
    Other
    $0
    Deferred
    $137,787
    Nontaxable benefits
    $2,085
    Filer's total
    $285,694

  • Joseph Bates

    MANAGER OF ENGINEERING & P

    Total calculated
    $185,740
    From this org
    $157,895
    From related orgs
    $0
    Other
    $27,845
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $157,895
    Bonus
    $0
    Other
    $0
    Deferred
    $25,760
    Nontaxable benefits
    $2,085
    Filer's total
    $185,740

  • Joey Dalton

    JOURNEYMAN LINEMAN

    Total calculated
    $197,631
    From this org
    $138,085
    From related orgs
    $0
    Other
    $59,546
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $138,085
    Bonus
    $0
    Other
    $0
    Deferred
    $34,780
    Nontaxable benefits
    $24,766
    Filer's total
    $197,631

  • Randy D Moody

    JOURNEYMAN LINEMAN

    Total calculated
    $194,597
    From this org
    $139,476
    From related orgs
    $0
    Other
    $55,121
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $139,476
    Bonus
    $0
    Other
    $0
    Deferred
    $30,355
    Nontaxable benefits
    $24,766
    Filer's total
    $194,597

  • Leo Bomian

    FORMER TRUSTEE

    Total calculated
    $13,204
    From this org
    $13,204
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $13,204
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $13,204

  • Raymond Long

    FORMER SECRETARY/TREASURER

    Total calculated
    $22,535
    From this org
    $22,535
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $22,535
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $22,535

  • Jerry Mason

    FORMER TRUSTEE

    Total calculated
    $12,261
    From this org
    $12,261
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $12,261
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $12,261

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 · Form 990 of other organizations
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
23 October 2024
IRS schema version
2023v5.1
Source object
202423069349301407

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