Form 990 for tax year 2022
Filed by JACKSON ENERGY COOPERATIVE CORPORAT ION INC.
Totals
- Total revenue
- $131,798,602
- Total expenses
- $131,798,602
- Contributions and grants received
- $0
- Grants paid
- $22,800
- Program service revenue
- $127,008,235
- Investment income
- $122,996
- Other revenue
- $4,667,371
- Total assets, end of year
- $302,207,183
- Total liabilities, end of year
- $167,348,744
- Net assets or fund balances, end of year
- $134,858,439
- Program services expenses (Part IX)
- $131,798,602
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $131,798,602
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: ELECTRIC SERVICE
total $126,991,839 · related or exempt $126,991,839
-
2b · Program service revenue: ELECTRIC MERCHANDISE
total $16,396 · related or exempt $16,396
-
3 · Investment income
total $122,996 · excluded $122,996
-
6a · Gross rents
real property $19,550
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $19,550
-
6d · Net rental income or loss
total $19,550 · excluded $19,550
-
11a · Other revenue: G&T PATRONAGE CAPITAL
total $2,020,480 · related or exempt $2,020,480
-
11b · Other revenue: JOINT USE POLE RENT
total $1,390,353 · excluded $1,390,353
-
11c · Other revenue: SUBSIDIARY INCOME
total $941,886 · unrelated business $941,886
-
11d · All other revenue
total $295,102 · related or exempt $10,970 · excluded $284,132
-
11e · Other revenue, total
$4,647,821
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $22,800 · program services $22,800
-
4 · Benefits paid to or for members
total $5,223,476 · program services $5,223,476
-
5 · Compensation of officers, directors and key employees
total $430,727 · program services $430,727
-
7 · Other salaries and wages
total $9,991,707 · program services $9,991,707
-
8 · Pension plan contributions
total $2,052,161 · program services $2,052,161
-
9 · Other employee benefits
total $2,125,349 · program services $2,125,349
-
10 · Payroll taxes
total $765,725 · program services $765,725
-
11b · Fees: legal
total $19,164 · program services $19,164
-
11c · Fees: accounting
total $29,700 · program services $29,700
-
20 · Interest
total $3,499,237 · program services $3,499,237
-
22 · Depreciation, depletion and amortization
total $11,458,553 · program services $11,458,553
-
23 · Insurance
total $405,277 · program services $405,277
-
24a · Other expenses: COST OF PURCHASE POWER
total $87,711,804 · program services $87,711,804
-
24b · Other expenses: DISTRIBUTION - MAINT
total $10,372,061 · program services $10,372,061
-
24c · Other expenses: DISTRIBUTION OPERATIONS
total $5,175,125 · program services $5,175,125
-
24d · Other expenses: ADMIN AND GENERAL
total $4,370,921 · program services $4,370,921
-
24e · All other expenses
total -$11,855,185 · program services -$11,855,185
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,058,416 · end of year $6,063,933
-
2 · Savings and temporary cash investments
beginning of year $570 · end of year $570
-
4 · Accounts receivable
beginning of year $19,752,121 · end of year $21,581,180
-
8 · Inventories for sale or use
beginning of year $2,871,675 · end of year $3,592,735
-
9 · Prepaid expenses and deferred charges
beginning of year $149,148 · end of year $316,414
-
10a · Land, buildings and equipment: cost or other basis
$293,928,311
-
10b · Land, buildings and equipment: accumulated depreciation
$113,257,677
-
10c · Land, buildings and equipment, net
beginning of year $175,043,284 · end of year $180,670,634
-
12 · Investments: other securities
end of year $9,000,000
-
13 · Investments: program-related
beginning of year $74,340,458 · end of year $75,203,349
-
15 · Other assets
beginning of year $6,733,354 · end of year $5,778,368
-
17 · Accounts payable and accrued expenses
beginning of year $11,327,052 · end of year $13,437,821
-
23 · Secured mortgages and notes payable
beginning of year $129,811,442 · end of year $140,420,477
-
25 · Other liabilities
beginning of year $13,883,333 · end of year $13,490,446
-
29 · Capital stock, trust principal or current funds
beginning of year $945,240 · end of year $955,900
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year -$497,980 · end of year -$497,980
-
31 · Retained earnings, endowment or other funds
beginning of year $129,479,939 · end of year $134,400,519
Mission and programs · 2022
Mission
DISTRIBUTION SALES OF ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS.
-
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS TO AN AVERAGE OF OVER 52,719 PER MONTH.
Expenses $131,798,602 · Revenue $129,039,685
As filed on the 2022 return.
Listed in Part VII
-
William Brian CookeWILLIAM BRIAN COOKE
DIRECTOR
- Total calculated
- $15,400
- From this org
- $15,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.3
-
Ted CundiffTED CUNDIFF
DIRECTOR
- Total calculated
- $14,400
- From this org
- $14,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.8
-
Tim BobrowskiTIM BOBROWSKI
DIRECTOR
- Total calculated
- $14,800
- From this org
- $14,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.4
-
Teresa DawesTERESA DAWES
DIRECTOR
- Total calculated
- $16,400
- From this org
- $16,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.4
-
Gordon PhillipsGORDON PHILLIPS
DIRECTOR
- Total calculated
- $15,400
- From this org
- $15,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.4
-
Jim Hays IIIJIM HAYS III
DIRECTOR
- Total calculated
- $14,400
- From this org
- $14,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.2
-
Landis CornettLANDIS CORNETT
VICE CHAIRMAN
- Total calculated
- $15,400
- From this org
- $15,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.8
-
Keith BinderKEITH BINDER
SECRETARY-TREAS
- Total calculated
- $16,800
- From this org
- $16,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.7
-
Phillip ThompsonPHILLIP THOMPSON
CHAIRMAN
- Total calculated
- $18,000
- From this org
- $18,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.5
-
Virginia Carol WrightVIRGINIA CAROL WRIGHT
PRESIDENT & CEO
- Total calculated
- $377,445
- From this org
- $289,727
- From related orgs
- $0
- Other
- $87,718
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $289,727
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $87,718
- Filer's total
- $377,445
-
Stephen Derrick DeanSTEPHEN DERRICK DEAN
CHIEF OPERATIONS OFFICE
- Total calculated
- $208,327
- From this org
- $149,566
- From related orgs
- $0
- Other
- $58,761
- Hours/week
- 40.44
Schedule J breakdown matched by us
- Base
- $149,566
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $58,761
- Filer's total
- $208,327
-
Jonathan TilleryJONATHAN TILLERY
WORKING FOREMAN
- Total calculated
- $165,718
- From this org
- $123,870
- From related orgs
- $0
- Other
- $41,848
- Hours/week
- 52.92
Schedule J breakdown matched by us
- Base
- $123,870
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $41,848
- Filer's total
- $165,718
-
Jeffrey HendersonJEFFREY HENDERSON
VP OF E&O
- Total calculated
- $199,445
- From this org
- $137,805
- From related orgs
- $0
- Other
- $61,640
- Hours/week
- 41.21
Schedule J breakdown matched by us
- Base
- $137,805
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $61,640
- Filer's total
- $199,445
-
April RennerAPRIL RENNER
VP OF CORPORATE SVCS
- Total calculated
- $165,809
- From this org
- $140,694
- From related orgs
- $0
- Other
- $25,115
- Hours/week
- 47.24
Schedule J breakdown matched by us
- Base
- $140,694
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $25,115
- Filer's total
- $165,809
-
Jason MontgomeryJASON MONTGOMERY
STAKING ENGINEER/1ST CLASS LINETECH
- Total calculated
- $152,096
- From this org
- $121,799
- From related orgs
- $0
- Other
- $30,297
- Hours/week
- 54.16
Schedule J breakdown matched by us
- Base
- $121,799
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $30,297
- Filer's total
- $152,096
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
- 2022
- Filed
- 8 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202331299349304008
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