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Nonprofiteer
← COOSA VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by COOSA VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$57,978,806
Total expenses
$57,978,806
Contributions and grants received
$0
Grants paid
$12,000
Program service revenue
$52,737,375
Investment income
$955,516
Other revenue
$4,285,915
Total assets, end of year
$190,829,754
Total liabilities, end of year
$124,376,959
Net assets or fund balances, end of year
$66,452,795
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: Electric Sales

    total $49,108,667 · related or exempt $49,108,667

  • 2b · Program service revenue: G&T and Other Cap Cred

    total $3,628,708 · related or exempt $3,628,708

  • 3 · Investment income

    total $25,118 · excluded $25,118

  • 6a · Gross rents

    personal property $4,186,164

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $4,186,164

  • 6d · Net rental income or loss

    total $4,186,164 · unrelated business $2,378,758 · excluded $1,807,406

  • 7a · Gross sales of assets other than inventory

    other assets $930,398

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

    other assets $0

  • 7c · Gain or loss

    other assets $930,398

  • 7d · Net gain or loss

    total $930,398 · excluded $930,398

  • 11a · Other revenue: Non Operating Margins

    total $99,751 · excluded $99,751

  • 11e · Other revenue, total

    $99,751

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $12,000

  • 4 · Benefits paid to or for members

    total $10,237,509

  • 5 · Compensation of officers, directors and key employees

    total $604,498

  • 20 · Interest

    total $3,502,560

  • 22 · Depreciation, depletion and amortization

    total $4,653,581

  • 24a · Other expenses: Cost of Power

    total $27,183,774

  • 24b · Other expenses: Distribution Maintenanc

    total $4,846,127

  • 24c · Other expenses: General and Administrat

    total $4,292,054

  • 24d · Other expenses: Distribution Operations

    total $1,231,514

  • 24e · All other expenses

    total $1,415,189

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,099,720 · end of year $2,197,453

  • 4 · Accounts receivable

    beginning of year $8,484,189 · end of year $12,203,034

  • 7 · Other notes and loans receivable

    beginning of year $3,213,882 · end of year $3,435,919

  • 8 · Inventories for sale or use

    beginning of year $2,425,038 · end of year $2,286,221

  • 9 · Prepaid expenses and deferred charges

    beginning of year $84,308 · end of year $4,258

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

    $182,772,974

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

    $34,384,861

  • 10c · Land, buildings and equipment, net

    beginning of year $126,060,215 · end of year $148,388,113

  • 12 · Investments: other securities

    beginning of year $19,513,634 · end of year $21,521,167

  • 15 · Other assets

    beginning of year $1,043,564 · end of year $793,589

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,666,011 · end of year $6,100,864

  • 23 · Secured mortgages and notes payable

    beginning of year $95,712,885 · end of year $116,140,562

  • 25 · Other liabilities

    beginning of year $1,813,592 · end of year $2,135,533

  • 29 · Capital stock, trust principal or current funds

    beginning of year $73,680 · end of year $75,285

  • 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 $57,658,382 · end of year $66,377,510

Mission and programs · 2023

Mission

Coosa Valley Electric Cooperative is a member owned and operated total energy cooperative providing economic and community development while delivering high quality services at competitive rates with competent and well-trained employees adhering to strong and ethical business practices.

  • Coosa Valley Electric Cooperative is a member-owned distribution cooperative which provides electric service to approximately 14,552 members located in Alabama.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mary Land

    Vice President

    Total calculated
    $19,800
    From this org
    $19,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Marilyn George Davis

    President

    Total calculated
    $31,650
    From this org
    $31,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Buddy Watson

    Director

    Total calculated
    $7,775
    From this org
    $7,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Michael Hubbard

    Secretary/Treasurer

    Total calculated
    $27,800
    From this org
    $27,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Sammy Gallman

    Director

    Total calculated
    $28,900
    From this org
    $28,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Christine Garrett

    Director

    Total calculated
    $28,350
    From this org
    $28,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Robert Dixon

    Director

    Total calculated
    $27,250
    From this org
    $27,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dennis Brasher

    Director

    Total calculated
    $6,800
    From this org
    $6,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kim Maye

    CFO

    Total calculated
    $165,154
    From this org
    $121,966
    From related orgs
    $0
    Other
    $43,188
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $121,966
    Bonus
    $0
    Other
    $0
    Deferred
    $41,339
    Nontaxable benefits
    $1,849
    Filer's total
    $165,154

  • Jon Cullimore

    General Manager

    Total calculated
    $261,019
    From this org
    $176,056
    From related orgs
    $0
    Other
    $84,963
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $176,056
    Bonus
    $0
    Other
    $0
    Deferred
    $83,114
    Nontaxable benefits
    $1,849
    Filer's total
    $261,019

  • Ryan Hart

    Mgr Engineering

    Total calculated
    $239,872
    From this org
    $214,647
    From related orgs
    $0
    Other
    $25,225
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $214,647
    Bonus
    $0
    Other
    $0
    Deferred
    $23,376
    Nontaxable benefits
    $1,849
    Filer's total
    $239,872

  • Aaron Pate

    Lineman

    Total calculated
    $206,631
    From this org
    $150,858
    From related orgs
    $0
    Other
    $55,773
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,858
    Bonus
    $0
    Other
    $0
    Deferred
    $53,924
    Nontaxable benefits
    $1,849
    Filer's total
    $206,631

  • Allen Perly

    Crew Chief Lineman

    Total calculated
    $189,010
    From this org
    $143,885
    From related orgs
    $0
    Other
    $45,125
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $143,885
    Bonus
    $0
    Other
    $0
    Deferred
    $43,276
    Nontaxable benefits
    $1,849
    Filer's total
    $189,010

  • Roy Henderson

    Crew Chief Lineman

    Total calculated
    $189,612
    From this org
    $159,235
    From related orgs
    $0
    Other
    $30,377
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,235
    Bonus
    $0
    Other
    $0
    Deferred
    $28,528
    Nontaxable benefits
    $1,849
    Filer's total
    $189,612

  • William Huffaker

    Lineman

    Total calculated
    $153,332
    From this org
    $144,154
    From related orgs
    $0
    Other
    $9,178
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,154
    Bonus
    $0
    Other
    $0
    Deferred
    $7,329
    Nontaxable benefits
    $1,849
    Filer's total
    $153,332

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

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.

  • Coosa Valley Propane Services Inc

    C · Propane Gas Sales · AL · 100% owned · share of income $1,318,981 · share of assets $4,368,857 · controlled entity

    Directly controlled by Coosa Valley Electric Cooperative

  • DeKalb County LP Gas Company Inc

    C · Propane Gas Sales · AL · 100% owned · share of assets $968,902 · controlled entity

    Directly controlled by Coosa Valley Propane Services Inc

  • Coosa Valley Technologies Inc

    C · Telecomunications · AL · 100% owned · share of income $4,377,389 · share of assets $5,241,151 · controlled entity

    Directly controlled by Coosa Valley Electric Cooperative

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202403199349312295

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