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Nonprofiteer
← TAYLOR ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by TAYLOR ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$72,942,498
Total expenses
$74,616,357
Contributions and grants received
$0
Grants paid
$28,129
Program service revenue
$71,599,515
Investment income
$64,569
Other revenue
$1,278,414
Total assets, end of year
$224,088,122
Total liabilities, end of year
$137,646,093
Net assets or fund balances, end of year
$86,442,029
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 $61,086,659 · related or exempt $61,086,659

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $7,038,863 · related or exempt $7,038,863

  • 2c · Program service revenue: FIBER INTERNET SERVICE REVENUE

    total $2,905,268 · related or exempt $2,895,430 · unrelated business $9,838

  • 2d · Program service revenue: SERVICE FEES

    total $439,725 · related or exempt $439,725

  • 2e · Program service revenue: OTHER PROGRAM REVENUE

    total $122,262 · related or exempt $122,262

  • 2f · All other program service revenue

    total $6,738 · related or exempt $6,738

  • 3 · Investment income

    total $174,638 · excluded $174,638

  • 6a · Gross rents

    real property $48,000 · personal property $320,540

  • 6b · Less rental expenses

    real property $12,961 · personal property $36,759

  • 6c · Rental income or loss

    real property $35,039 · personal property $283,781

  • 6d · Net rental income or loss

    total $318,820 · related or exempt $35,039 · excluded $283,781

  • 7a · Gross sales of assets other than inventory

    other assets $98,000

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

    other assets $208,069

  • 7c · Gain or loss

    other assets -$110,069

  • 7d · Net gain or loss

    total -$110,069 · related or exempt -$110,069

  • 10a · Gross sales of inventory

    $14,966

  • 10b · Cost of goods sold

    $93,809

  • 10c · Net income from sales of inventory

    total -$78,843 · related or exempt -$78,843

  • 11a · Other revenue: MISC NON-OPERATING REVENUE

    total $645,512 · related or exempt $645,512

  • 11b · Other revenue: POLE ATTACHMENT INCOME

    total $378,471 · excluded $378,471

  • 11c · Other revenue: AIR EVAC REVENUE

    total $14,454 · unrelated business $14,454

  • 11e · Other revenue, total

    $1,038,437

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $28,129

  • 4 · Benefits paid to or for members

    total $11,934,770

  • 5 · Compensation of officers, directors and key employees

    total $1,374,147

  • 7 · Other salaries and wages

    total $4,848,932

  • 8 · Pension plan contributions

    total $1,167,047

  • 9 · Other employee benefits

    total $981,967

  • 10 · Payroll taxes

    total $390,859

  • 20 · Interest

    total $5,391,018

  • 22 · Depreciation, depletion and amortization

    total $8,137,616

  • 24a · Other expenses: PURCHASED POWER

    total $33,398,330

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $3,198,361

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $2,316,073

  • 24d · Other expenses: FIBER/NTERNET EXPENSE

    total $324,527

  • 24e · All other expenses

    total $1,124,581

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,417,974 · end of year $3,131,487

  • 4 · Accounts receivable

    beginning of year $5,806,438 · end of year $5,177,780

  • 8 · Inventories for sale or use

    beginning of year $1,064 · end of year $524

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,897,991 · end of year $1,992,156

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

    $241,814,892

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

    $71,075,097

  • 10c · Land, buildings and equipment, net

    beginning of year $160,101,345 · end of year $170,739,795

  • 13 · Investments: program-related

    beginning of year $35,477,463 · end of year $41,496,580

  • 15 · Other assets

    beginning of year $1,260,433 · end of year $1,549,800

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,013,248 · end of year $4,585,926

  • 21 · Escrow or custodial account liability

    beginning of year $132,291 · end of year $140,083

  • 23 · Secured mortgages and notes payable

    beginning of year $115,017,133 · end of year $121,579,141

  • 25 · Other liabilities

    beginning of year $10,887,239 · end of year $11,340,943

  • 29 · Capital stock, trust principal or current funds

    beginning of year $134,385 · end of year $137,625

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $172,395 · end of year $181,694

  • 31 · Retained earnings, endowment or other funds

    beginning of year $76,606,017 · end of year $86,122,710

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

TO PROVIDE ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 20,702 ACTIVE SERVICES AT YEAR END.

  • FIBER INTERNET DIVISION:A SEPARATE DIVISION OF THE COOPERATIVE WAS CREATED TO PROVIDE FIBER INTERNET SERVICE TO ITS MEMBERS THROUGH THE CONSTRUCTION OF A FIBER OPTIC NETWORK. FIBER INTERNET SERVICES ARE PROVIDED TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL TO THE EXTENT OF MARGINS FOR SUCH DIVISION. THERE WERE 4,099 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Cecil Davis

    CHAIRMAN

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • David McFall

    SECRETARY/TREASURER

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Garland Carter

    DIRECTOR

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gayla Simmons

    DIRECTOR

    Total calculated
    $22,000
    From this org
    $22,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kathryn Rainey

    DIRECTOR

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Leland Robinson

    VICE CHAIRMAN

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Richard Petree

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Ryan Bartlett

    PRESIDENT/CHIEF EXECUTIVE OFFICER

    Total calculated
    $433,961
    From this org
    $331,942
    From related orgs
    $0
    Other
    $102,019
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $272,150
    Bonus
    $56,406
    Other
    $3,386
    Deferred
    $68,644
    Nontaxable benefits
    $33,375
    Filer's total
    $433,961

  • Nancy Brisco

    CHIEF FINANCIAL OFFICER

    Total calculated
    $288,034
    From this org
    $202,060
    From related orgs
    $0
    Other
    $85,974
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $182,448
    Bonus
    $13,714
    Other
    $5,898
    Deferred
    $72,476
    Nontaxable benefits
    $13,498
    Filer's total
    $288,034

  • Wade Hatch

    VP OF ENGINEERING

    Total calculated
    $233,143
    From this org
    $160,372
    From related orgs
    $0
    Other
    $72,771
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $150,406
    Bonus
    $6,782
    Other
    $3,184
    Deferred
    $48,248
    Nontaxable benefits
    $24,523
    Filer's total
    $233,143

  • David Thomas

    DIRECTOR OF ELECTRIC OPERATIONS

    Total calculated
    $261,509
    From this org
    $152,301
    From related orgs
    $0
    Other
    $109,208
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $140,251
    Bonus
    $10,476
    Other
    $1,574
    Deferred
    $85,993
    Nontaxable benefits
    $23,215
    Filer's total
    $261,509

  • Joshua Foss

    WORKING FOREMAN

    Total calculated
    $213,939
    From this org
    $127,772
    From related orgs
    $0
    Other
    $86,167
    Hours/week
    49.8

    Schedule J breakdown matched by us

    Base
    $86,711
    Bonus
    $40,617
    Other
    $444
    Deferred
    $55,775
    Nontaxable benefits
    $30,392
    Filer's total
    $213,939

  • John Haspel

    CONST & ENERGY SERVICES MANAGER

    Total calculated
    $179,173
    From this org
    $121,526
    From related orgs
    $0
    Other
    $57,647
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,655
    Bonus
    $9,563
    Other
    $2,308
    Deferred
    $36,037
    Nontaxable benefits
    $21,610
    Filer's total
    $179,173

  • Tyler Newberry

    WORKING FOREMAN

    Total calculated
    $171,256
    From this org
    $120,261
    From related orgs
    $0
    Other
    $50,995
    Hours/week
    47.5

    Schedule J breakdown matched by us

    Base
    $90,087
    Bonus
    $29,819
    Other
    $355
    Deferred
    $20,702
    Nontaxable benefits
    $30,293
    Filer's total
    $171,256

  • Jason Cantu

    WORKING FOREMAN

    Total calculated
    $173,160
    From this org
    $119,882
    From related orgs
    $0
    Other
    $53,278
    Hours/week
    50.6

    Schedule J breakdown matched by us

    Base
    $81,444
    Bonus
    $38,027
    Other
    $411
    Deferred
    $21,153
    Nontaxable benefits
    $32,125
    Filer's total
    $173,160

  • Joseph Wilson

    DIRECTOR OF FIBER OPERATIONS

    Total calculated
    $221,807
    From this org
    $118,586
    From related orgs
    $0
    Other
    $103,221
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,256
    Bonus
    $14,817
    Other
    $513
    Deferred
    $71,592
    Nontaxable benefits
    $31,629
    Filer's total
    $221,807

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 · 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 II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. RYAN BARTLETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,844 EMPLOYER CONTRIBUTION TO 401(K) PLAN 19,800 TOTAL REPORTED IN COLUMN C $ 68,644 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,844) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 92,263 EXPENSE TO THE COOPERATIVE $112,063 NANCY BRISCO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 60,346 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,130 TOTAL REPORTED IN COLUMN C $ 72,476 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (60,346) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 62,090 EXPENSE TO THE COOPERATIVE $ 74,220 DAVID THOMAS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 76,666 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,327 TOTAL REPORTED IN COLUMN C $ 85,993 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (76,666) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 48,947 EXPENSE TO THE COOPERATIVE $ 58,274 WADE HATCH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 38,476 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,772 TOTAL REPORTED IN COLUMN C $ 48,248 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (38,476) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,904 EXPENSE TO THE COOPERATIVE $ 42,676 JOSEPH WILSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 64,141 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,451 TOTAL REPORTED IN COLUMN C $ 71,592 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (64,141) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,776 EXPENSE TO THE COOPERATIVE $ 44,227 JOSHUA FOSS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,649 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,126 TOTAL REPORTED IN COLUMN C $ 55,775 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,649) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,274 EXPENSE TO THE COOPERATIVE $ 39,400 JOHN HASPEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,617 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,420 TOTAL REPORTED IN COLUMN C $ 36,037 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,617) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,877 EXPENSE TO THE COOPERATIVE $ 45,297 JASON CANTU: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,589 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,564 TOTAL REPORTED IN COLUMN C $ 21,153 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,589) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,720 EXPENSE TO THE COOPERATIVE $ 35,284 TYLER NEWBERRY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,222 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,480 TOTAL REPORTED IN COLUMN C $ 20,702 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,222) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,274 EXPENSE TO THE COOPERATIVE $ 38,754

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

  • WYLIE INDEPENDENT SCHOOL DISTRICT

    $0

    PROVIDED FOOD TO TEACHERS, ADMINISTRATORS, AND STAFF DURING IN-SERVICE.

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.

  • TAYLOR ELECTRIC TRUST

    501(C)(3) · CHARITY · TX · controlled entity

    Directly controlled by TAYLOR ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202413179349304791

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