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Nonprofiteer
← NORTH ALABAMA ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by NORTH ALABAMA ELECTRIC COOPERATIVE.

Totals

Total revenue
$62,766,162
Total expenses
$58,694,517
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$59,982,127
Investment income
$638,776
Other revenue
$2,145,259
Total assets, end of year
$78,261,621
Total liabilities, end of year
$27,528,637
Net assets or fund balances, end of year
$50,732,984
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 $54,702,631 · related or exempt $54,702,631

  • 2b · Program service revenue: Broadband Revenue

    total $5,279,496 · related or exempt $5,279,496

  • 3 · Investment income

    total $552,483 · excluded $552,483

  • 6a · Gross rents

    real property $746,084

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $746,084

  • 6d · Net rental income or loss

    total $746,084 · excluded $746,084

  • 7a · Gross sales of assets other than inventory

    other assets $86,293

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

    other assets $0

  • 7c · Gain or loss

    other assets $86,293

  • 7d · Net gain or loss

    total $86,293 · excluded $86,293

  • 11a · Other revenue: Other Revenue

    total $721,303 · related or exempt $721,303

  • 11b · Other revenue: RDOF Grant

    total $677,872 · related or exempt $677,872

  • 11e · Other revenue, total

    $1,399,175

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $652,806

  • 8 · Pension plan contributions

    total $292,068

  • 20 · Interest

    total $499,029

  • 22 · Depreciation, depletion and amortization

    total $3,528,650

  • 24a · Other expenses: Purchased Power

    total $38,007,650

  • 24b · Other expenses: Distribution Maintenanc

    total $3,868,974

  • 24c · Other expenses: Broadband Expenses

    total $3,484,944

  • 24d · Other expenses: General and Admin

    total $2,972,811

  • 24e · All other expenses

    total $5,387,585

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,130,133 · end of year $11,726,256

  • 4 · Accounts receivable

    beginning of year $4,555,693 · end of year $4,631,958

  • 7 · Other notes and loans receivable

    beginning of year $741,234 · end of year $528,135

  • 8 · Inventories for sale or use

    beginning of year $2,034,442 · end of year $1,918,582

  • 9 · Prepaid expenses and deferred charges

    beginning of year $728,109 · end of year $619,350

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

    $95,797,766

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

    $41,962,404

  • 10c · Land, buildings and equipment, net

    beginning of year $40,896,097 · end of year $53,835,362

  • 13 · Investments: program-related

    beginning of year $5,146,851 · end of year $1,283,483

  • 15 · Other assets

    beginning of year $6,963,794 · end of year $3,718,495

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,812,232 · end of year $6,714,479

  • 19 · Deferred revenue

    end of year $573,300

  • 23 · Secured mortgages and notes payable

    beginning of year $10,672,060 · end of year $10,156,673

  • 25 · Other liabilities

    beginning of year $10,193,114 · end of year $10,084,185

  • 29 · Capital stock, trust principal or current funds

    beginning of year $174,870 · end of year $176,705

  • 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 $46,344,077 · end of year $50,556,279

Mission and programs · 2024

Mission

The aim of North Alabma Electric Cooperative is to make electric energy available to its members at the lowest cost consistent with sound economy and good management.

Activities or mission (Part I)

Providing electric energy to its members

  • Utilizing approximately 2,340 miles of distribution lines, North Alabama Electric Cooperative provided 457,564,146 KWH's of electric energy to its cooperative members.

  • Utilizing approximately 2,300 miles of fiber internet, North Alabama Electric Cooperative provided dependable and affordable communications services to its cooperative members.

As filed on the 2024 return.

Listed in Part VII

  • James Goins

    Trustee

    Total calculated
    $17,030
    From this org
    $17,030
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Steve Carver

    Trustee / Vice President

    Total calculated
    $30,884
    From this org
    $30,884
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Parks Tubbs

    Secretary/Treasurer

    Total calculated
    $17,213
    From this org
    $17,213
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Warren Whitcher

    Trustee

    Total calculated
    $10,810
    From this org
    $10,810
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Louis Crowder

    Trustee

    Total calculated
    $14,841
    From this org
    $14,841
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Willard Townson

    President

    Total calculated
    $10,810
    From this org
    $10,810
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Mark Dover

    Trustee

    Total calculated
    $30,884
    From this org
    $30,884
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Bobby Hicks

    Trustee

    Total calculated
    $32,534
    From this org
    $32,534
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Kasey Sanders

    Trustee

    Total calculated
    $32,534
    From this org
    $32,534
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Gena Hall

    General Manager

    Total calculated
    $273,189
    From this org
    $155,463
    From related orgs
    $0
    Other
    $117,726
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,463
    Bonus
    $0
    Other
    $0
    Deferred
    $90,947
    Nontaxable benefits
    $26,779
    Filer's total
    $273,189

  • John Powell

    CFO

    Total calculated
    $182,078
    From this org
    $146,709
    From related orgs
    $0
    Other
    $35,369
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,709
    Bonus
    $0
    Other
    $0
    Deferred
    $9,519
    Nontaxable benefits
    $25,850
    Filer's total
    $182,078

  • William Selby

    Telecomm Super

    Total calculated
    $234,773
    From this org
    $151,771
    From related orgs
    $0
    Other
    $83,002
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,771
    Bonus
    $0
    Other
    $0
    Deferred
    $56,267
    Nontaxable benefits
    $26,735
    Filer's total
    $234,773

  • Chassity Haynes

    Office Manager

    Total calculated
    $182,967
    From this org
    $130,167
    From related orgs
    $0
    Other
    $52,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,167
    Bonus
    $0
    Other
    $0
    Deferred
    $29,694
    Nontaxable benefits
    $23,106
    Filer's total
    $182,967

  • Tim Weaver

    Electric Foreman

    Total calculated
    $188,305
    From this org
    $124,995
    From related orgs
    $0
    Other
    $63,310
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,995
    Bonus
    $0
    Other
    $0
    Deferred
    $38,333
    Nontaxable benefits
    $24,977
    Filer's total
    $188,305

  • Brian Guinn

    Electric Foreman

    Total calculated
    $168,802
    From this org
    $126,648
    From related orgs
    $0
    Other
    $42,154
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,648
    Bonus
    $0
    Other
    $0
    Deferred
    $16,831
    Nontaxable benefits
    $25,323
    Filer's total
    $168,802

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 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
2024
Filed
14 January 2026
IRS schema version
2024v5.5
Source object
202640159349301609

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