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Nonprofiteer
← CONCORDIA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by CONCORDIA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$27,583,287
Total expenses
$29,295,993
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,400,195
Investment income
$181,032
Other revenue
$2,060
Total assets, end of year
$39,282,396
Total liabilities, end of year
$25,541,036
Net assets or fund balances, end of year
$13,741,360
Program services expenses (Part IX)
$29,295,993
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$29,295,993

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: Operating Rev & Patronage Cap

    total $27,367,780 · related or exempt $27,367,780 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Other Capital Credits & Patronage Dividends

    total $32,415 · related or exempt $32,415 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $65,526 · related or exempt $0 · unrelated business $0 · excluded $65,526

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $128,404

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

    securities $0 · other assets $12,898

  • 7c · Gain or loss

    securities $0 · other assets $115,506

  • 7d · Net gain or loss

    total $115,506 · related or exempt $115,506 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Contract Work

    total $2,060 · related or exempt $2,060 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,060

Functional expenses

Part IX, the statement of functional expenses.

  • 10 · Payroll taxes

    total -$745 · program services -$745

  • 11b · Fees: legal

    total $392,874 · program services $392,874

  • 11c · Fees: accounting

    total $30,561 · program services $30,561

  • 11g · Fees: other

    total $184,018 · program services $184,018

  • 13 · Office expenses

    total $71,425 · program services $71,425

  • 17 · Travel

    total $0

  • 20 · Interest

    total $805,298 · program services $805,298

  • 22 · Depreciation, depletion and amortization

    total $1,815,002 · program services $1,815,002

  • 24a · Other expenses: Consumers Account & Service, Exp

    total $1,769,283 · program services $1,769,283 · management and general $0 · fundraising $0

  • 24b · Other expenses: Purchase Power & Transmissions

    total $17,631,001 · program services $17,631,001 · management and general $0 · fundraising $0

  • 24c · Other expenses: Other Deductions

    total $13,951 · program services $13,951 · management and general $0 · fundraising $0

  • 24d · Other expenses: Distribution Expense

    total $5,437,112 · program services $5,437,112 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $1,146,213 · program services $1,146,213

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $550,743 · end of year $748,264

  • 2 · Savings and temporary cash investments

    beginning of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $3,770,561 · end of year $4,854,400

  • 5 · Loans and receivables from officers and key people

    beginning of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 8 · Inventories for sale or use

    beginning of year $328,782 · end of year $483,945

  • 9 · Prepaid expenses and deferred charges

    beginning of year $364,520 · end of year $296,442

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

    $68,955,371

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

    $38,090,407

  • 10c · Land, buildings and equipment, net

    beginning of year $29,953,976 · end of year $30,864,964

  • 11 · Investments: publicly traded securities

    beginning of year $0

  • 12 · Investments: other securities

    beginning of year $498,000 · end of year $498,000

  • 13 · Investments: program-related

    beginning of year $1,518,291 · end of year $1,524,306

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $12,157 · end of year $12,075

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,852,877 · end of year $4,619,382

  • 18 · Grants payable

    beginning of year $0

  • 19 · Deferred revenue

    beginning of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $16,657,343 · end of year $17,458,357

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $3,280,245 · end of year $3,463,297

  • 29 · Capital stock, trust principal or current funds

    beginning of year $43,810 · end of year $43,750

  • 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 $15,162,755 · end of year $13,697,610

Mission and programs · 2023

Mission

Sale of electricity to 13,804 consumers.

Activities or mission (Part I)

Sale of electricity to consumers in rural areas.

  • Sale of electricity to 13,804 consumers.

    Expenses $29,295,993

As filed on the 2023 return.

Listed in Part VII

  • Stanley DeWayne Bailey

    General Manager & CEO

    Total calculated
    $126,846
    From this org
    $126,521
    From related orgs
    $0
    Other
    $325
    Hours/week
    40

  • Craig McCully

    Staking & Safety

    Total calculated
    $104,577
    From this org
    $103,779
    From related orgs
    $0
    Other
    $798
    Hours/week
    50

  • Jacques Lossin

    Service Lineman

    Total calculated
    $102,328
    From this org
    $102,003
    From related orgs
    $0
    Other
    $325
    Hours/week
    54

  • Bobby Creel

    Director

    Total calculated
    $20,493
    From this org
    $20,493
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Don Hamilton

    Vice President

    Total calculated
    $12,529
    From this org
    $12,529
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Brenda Higdon

    Secretary

    Total calculated
    $11,292
    From this org
    $11,292
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • David Wade

    President

    Total calculated
    $9,297
    From this org
    $9,297
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • William Cockerham

    Treasurer

    Total calculated
    $8,350
    From this org
    $8,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Christopher Freeman

    Director

    Total calculated
    $7,809
    From this org
    $7,809
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Kenneth Ford

    Director

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • David Cole

    Director

    Total calculated
    $5,459
    From this org
    $5,459
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Tracy Mae

    Director

    Total calculated
    $1,975
    From this org
    $1,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202423199349312962

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