Form 990 for tax year 2023
Filed by LICKING VALLEY RURAL ELECTRIC CO-OP CORPORATION.
Totals
- Total revenue
- $34,304,644
- Total expenses
- $34,304,644
- Contributions and grants received
- $0
- Grants paid
- $8,000
- Program service revenue
- $33,432,950
- Investment income
- $51,360
- Other revenue
- $820,334
- Total assets, end of year
- $83,028,628
- Total liabilities, end of year
- $43,923,602
- Net assets or fund balances, end of year
- $39,105,026
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $34,304,644
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 REVENUE SERVICE
total $33,432,950 · related or exempt $33,432,950
-
3 · Investment income
total $51,360 · excluded $51,360
-
11a · Other revenue: G&T CAPITAL CREDITS
total $402,409 · related or exempt $402,409
-
11b · Other revenue: JOINT USE ATTACHMENTS
total $252,358 · excluded $252,358
-
11c · Other revenue: PATRONAGE CAP ALLOCATIONS
total $165,567 · related or exempt $165,567
-
11e · Other revenue, total
$820,334
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $8,000
-
4 · Benefits paid to or for members
total -$753,994
-
5 · Compensation of officers, directors and key employees
total $247,385
-
7 · Other salaries and wages
total $2,948,074
-
8 · Pension plan contributions
total $298,710
-
9 · Other employee benefits
total $1,084,722
-
10 · Payroll taxes
total $238,420
-
11b · Fees: legal
total $46,916
-
11c · Fees: accounting
total $161,781
-
13 · Office expenses
total $191,857
-
20 · Interest
total $1,656,482
-
22 · Depreciation, depletion and amortization
total $2,882,776
-
23 · Insurance
total $254,431
-
24a · Other expenses: COST OF POWER
total $22,444,020
-
24b · Other expenses: DISTRIBUTION - MAINTENA
total $3,940,837
-
24c · Other expenses: DISTRIBUTION - OPERATIO
total $2,104,832
-
24d · Other expenses: ADMINISTRATIVE AND GENE
total $1,208,571
-
24e · All other expenses
total -$4,659,176
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $281,637 · end of year $279,875
-
2 · Savings and temporary cash investments
end of year $1,221,923
-
4 · Accounts receivable
beginning of year $7,310,295 · end of year $6,822,400
-
8 · Inventories for sale or use
beginning of year $1,167,593 · end of year $1,149,650
-
9 · Prepaid expenses and deferred charges
beginning of year $869,993 · end of year $551,350
-
10a · Land, buildings and equipment: cost or other basis
$89,563,507
-
10b · Land, buildings and equipment: accumulated depreciation
$36,887,393
-
10c · Land, buildings and equipment, net
beginning of year $50,478,583 · end of year $52,676,114
-
13 · Investments: program-related
beginning of year $19,815,789 · end of year $20,327,316
-
17 · Accounts payable and accrued expenses
beginning of year $3,002,637 · end of year $3,807,527
-
23 · Secured mortgages and notes payable
beginning of year $30,443,731 · end of year $32,190,213
-
25 · Other liabilities
beginning of year $6,696,190 · end of year $7,925,862
-
29 · Capital stock, trust principal or current funds
beginning of year $226,925 · end of year $226,975
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year -$1,513,122 · end of year -$1,513,122
-
31 · Retained earnings, endowment or other funds
beginning of year $41,067,529 · end of year $40,391,173
Mission and programs · 2023
Mission
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 17,728 CONSUMERS MONTHLY.
-
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 17,728 CONSUMERS MONTHLY.
Expenses $34,304,644 · Grants $8,000 · Revenue $34,000,926
As filed on the 2023 return.
Listed in Part VII
-
Darrell CundiffDARRELL CUNDIFF
PRESIDENT
- Total calculated
- $3,600
- From this org
- $3,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Ted HolbrookTED HOLBROOK
VICE PRESIDENT
- Total calculated
- $3,600
- From this org
- $3,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Tommy HillTOMMY HILL
SEC-TREASURER
- Total calculated
- $7,200
- From this org
- $7,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Philip WilliamsPHILIP WILLIAMS
DIRECTOR
- Total calculated
- $3,600
- From this org
- $3,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
J Frank PorterJ FRANK PORTER
DIRECTOR
- Total calculated
- $3,600
- From this org
- $3,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Kevin HowardKEVIN HOWARD
DIRECTOR
- Total calculated
- $3,600
- From this org
- $3,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Alan OldfieldALAN OLDFIELD
DIRECTOR
- Total calculated
- $3,600
- From this org
- $3,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Ck StacyCK STACY
DIRECTOR
- Total calculated
- $3,600
- From this org
- $3,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Kerry K HowardKERRY K HOWARD
GENERAL MANAGER/CEO
- Total calculated
- $242,194
- From this org
- $214,985
- From related orgs
- $0
- Other
- $27,209
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $214,985
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $27,209
- Filer's total
- $242,194
-
Sandra BradleySANDRA BRADLEY
ACCOUNTANT
- Total calculated
- $140,927
- From this org
- $118,733
- From related orgs
- $0
- Other
- $22,194
- Hours/week
- 40
-
Peyton LoudermilkPEYTON LOUDERMILK
SUPERVISOR/CONSTRUCTION
- Total calculated
- $137,060
- From this org
- $103,973
- From related orgs
- $0
- Other
- $33,087
- Hours/week
- 40
-
Christopher J MurphyCHRISTOPHER J MURPHY
GENERAL SUPERINTENDENT
- Total calculated
- $152,750
- From this org
- $116,612
- From related orgs
- $0
- Other
- $36,138
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $116,612
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $36,138
- Filer's total
- $152,750
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
None.
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
- 2023
- Filed
- 7 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402829349301110
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