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Nonprofiteer
← ARIZONA ELECTRIC POWER COOPERATIVE INC

Form 990 for tax year 2023

Filed by ARIZONA ELECTRIC POWER COOPERATIVE INC.

Totals

Total revenue
$229,042,927
Total expenses
$225,844,400
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$192,498,455
Investment income
$2,948,008
Other revenue
$33,596,464
Total assets, end of year
$607,120,599
Total liabilities, end of year
$424,642,866
Net assets or fund balances, end of year
$182,477,733
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: PROVIDE ELECTRIC POWER

    total $192,498,455 · related or exempt $192,498,455

  • 3 · Investment income

    total $2,948,008 · excluded $2,948,008

  • 6a · Gross rents

    real property $71,404

  • 6b · Less rental expenses

    real property $418,763

  • 6c · Rental income or loss

    real property -$347,359

  • 6d · Net rental income or loss

    total -$347,359 · unrelated business -$347,359

  • 11a · Other revenue: OTHER SERVICE REVENUE

    total $33,322,721 · related or exempt $33,322,721

  • 11b · Other revenue: CAPITAL CREDIT/PATR DI

    total $621,102 · excluded $621,102

  • 11e · Other revenue, total

    $33,943,823

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,153,884

  • 7 · Other salaries and wages

    total $24,735,668

  • 9 · Other employee benefits

    total $8,589,913

  • 10 · Payroll taxes

    total $1,504,287

  • 11b · Fees: legal

    total $6,738,347

  • 11g · Fees: other

    total $1,587,542

  • 12 · Advertising and promotion

    total $162,852

  • 17 · Travel

    total $400,147

  • 20 · Interest

    total $11,400,121

  • 22 · Depreciation, depletion and amortization

    total $21,823,322

  • 23 · Insurance

    total $1,555,858

  • 24a · Other expenses: PRODUCTION

    total $68,996,096

  • 24b · Other expenses: PURCHASED POWER

    total $49,718,797

  • 24c · Other expenses: TRANSMISSION

    total $22,277,958

  • 24d · Other expenses: PROPERTY TAX

    total $4,199,608

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,614,900 · end of year $9,956,396

  • 2 · Savings and temporary cash investments

    beginning of year $28,382,665 · end of year $28,052,006

  • 4 · Accounts receivable

    beginning of year $66,622,083 · end of year $39,557,190

  • 8 · Inventories for sale or use

    beginning of year $56,586,008 · end of year $40,775,573

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,904,071 · end of year $56,202,583

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

    $896,409,280

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

    $475,040,123

  • 10c · Land, buildings and equipment, net

    beginning of year $331,677,551 · end of year $421,369,157

  • 12 · Investments: other securities

    beginning of year $10,996,875 · end of year $11,207,694

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,654,508 · end of year $29,069,037

  • 23 · Secured mortgages and notes payable

    beginning of year $157,421,820 · end of year $216,889,127

  • 25 · Other liabilities

    beginning of year $148,114,007 · end of year $178,684,702

  • 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 $830 · end of year $930

  • 31 · Retained earnings, endowment or other funds

    beginning of year $179,592,988 · end of year $182,476,803

Mission and programs · 2023

Mission

PROVIDE ELECTRIC SERVICE TO ITS MEMBERS.

Activities or mission (Part I)

SALE OF ELECTRIC POWER

  • AEPCO IS A GENERATION COOPERATIVE THAT PROVIDES THE POWER NEEDS OF ITS MEMBER-OWNED DISTRIBUTION COOPERATIVES, PROVIDING ELECTRICITY TO MORE THAN 147,000 METERS.

  • TRANSMISSION COOPERATIVE THAT BRINGS LOCAL SUPPLY OF ELECTRICITY TO CUSTOMERS TO ENSURE RELIABLE AND ADEQUATE SUPPLY.

As filed on the 2023 return.

Listed in Part VII

  • Kathryn J Thatcher

    DIRECTOR (PRESIDENT)

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4 + 1 related

  • Reuben B McBride

    DIRECTOR(VICE PRESIDENT)

    Total calculated
    $33,000
    From this org
    $33,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Judy McKinley

    DIRECTOR(TREASURER)

    Total calculated
    $22,000
    From this org
    $22,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • J Tyler Carlson

    DIRECTOR(SECRETARY)

    Total calculated
    $34,000
    From this org
    $34,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Gene R Larson

    DIRECTOR

    Total calculated
    $27,250
    From this org
    $27,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Harrold Burdick

    DIRECTOR

    Total calculated
    $34,000
    From this org
    $34,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kevin Short

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • John Nelssen

    DIRECTOR

    Total calculated
    $35,000
    From this org
    $35,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Lawerence Hinchlifee

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Brian Heithoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Daniel Barrera

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

  • Johnnie Frie

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    11 + 3 related

  • Dave Luttrell

    DIRECTOR

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Patrick Ledger

    CURRENT CHIEF EXECUTIVE OF

    Total calculated
    $864,658
    From this org
    $764,699
    From related orgs
    $0
    Other
    $99,959
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $608,443
    Bonus
    $50,277
    Other
    $105,979
    Deferred
    $74,142
    Nontaxable benefits
    $25,817
    Filer's total
    $864,658

  • Peter Scott

    CHIEF FINANCIAL OFFICER

    Total calculated
    $387,884
    From this org
    $318,307
    From related orgs
    $0
    Other
    $69,577
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $294,290
    Bonus
    $272
    Other
    $23,745
    Deferred
    $64,407
    Nontaxable benefits
    $5,170
    Filer's total
    $387,884

  • Benjamin Engelby

    GENERAL COUNSEL

    Total calculated
    $353,441
    From this org
    $284,309
    From related orgs
    $0
    Other
    $69,132
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,831
    Bonus
    $891
    Other
    $4,587
    Deferred
    $43,800
    Nontaxable benefits
    $25,332
    Filer's total
    $353,441

  • Michelle Freeark

    KEY EMPLOYEE

    Total calculated
    $342,472
    From this org
    $262,758
    From related orgs
    $0
    Other
    $79,714
    Hours/week
    52 + 3 related

    Schedule J breakdown matched by us

    Base
    $258,895
    Bonus
    $565
    Other
    $3,298
    Deferred
    $55,489
    Nontaxable benefits
    $24,225
    Filer's total
    $342,472

  • Christopher Jimenez

    KEY EMPLOYEE

    Total calculated
    $334,038
    From this org
    $273,301
    From related orgs
    $0
    Other
    $60,737
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $259,147
    Bonus
    $8,252
    Other
    $5,902
    Deferred
    $39,719
    Nontaxable benefits
    $21,018
    Filer's total
    $334,038

  • Mike Nelson

    KEY EMPLOYEE

    Total calculated
    $382,590
    From this org
    $299,065
    From related orgs
    $0
    Other
    $83,525
    Hours/week
    68

    Schedule J breakdown matched by us

    Base
    $277,739
    Bonus
    $277
    Other
    $21,049
    Deferred
    $63,195
    Nontaxable benefits
    $20,330
    Filer's total
    $382,590

  • John Sanders

    KEY EMPLOYEE

    Total calculated
    $390,594
    From this org
    $304,486
    From related orgs
    $0
    Other
    $86,108
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $288,263
    Bonus
    $434
    Other
    $15,789
    Deferred
    $65,717
    Nontaxable benefits
    $20,391
    Filer's total
    $390,594

  • Nathen Hatch

    HIGHEST COMPENSATED EMPLOYEE

    Total calculated
    $290,791
    From this org
    $218,435
    From related orgs
    $0
    Other
    $72,356
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $208,758
    Bonus
    $7,400
    Other
    $2,277
    Deferred
    $47,868
    Nontaxable benefits
    $24,488
    Filer's total
    $290,791

  • Boris Tumarin

    HIGHEST COMPENSATED EMPLOYEE

    Total calculated
    $270,080
    From this org
    $215,175
    From related orgs
    $0
    Other
    $54,905
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $210,436
    Bonus
    $1,326
    Other
    $3,413
    Deferred
    $31,548
    Nontaxable benefits
    $23,357
    Filer's total
    $270,080

  • Ryan Manzo

    HIGHEST COMPENSATED EMPLOYEE

    Total calculated
    $257,258
    From this org
    $198,745
    From related orgs
    $0
    Other
    $58,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,610
    Bonus
    $2,426
    Other
    $1,709
    Deferred
    $35,293
    Nontaxable benefits
    $23,220
    Filer's total
    $257,258

  • Jasin Glasner

    HIGHEST COMPENSATED EMPLOY

    Total calculated
    $234,753
    From this org
    $188,495
    From related orgs
    $0
    Other
    $46,258
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $189,044
    Bonus
    $1,766
    Other
    -$2,315
    Deferred
    $29,535
    Nontaxable benefits
    $16,723
    Filer's total
    $234,753

  • Charles Alves

    HIGHEST COMPENSATED EMPLOY

    Total calculated
    $238,831
    From this org
    $175,811
    From related orgs
    $0
    Other
    $63,020
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $173,108
    Bonus
    $2,018
    Other
    $685
    Deferred
    $39,038
    Nontaxable benefits
    $23,982
    Filer's total
    $238,831

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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SIERRA SOUTHWEST COOPERATIVE SERVICE INC

    C · UTILITY SERVICE PROVIDER · AZ

  • SIERRA ARIZONA ENERGY SERVICES INC

    C · RETAIL SALES · AZ

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349301855

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