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← FORKED DEER ELECTRIC COOP INC

Form 990 for tax year 2022

Filed by FORKED DEER ELECTRIC COOP INC.

Totals

Total revenue
$27,315,041
Total expenses
$25,551,489
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$25,952,574
Investment income
$1,219,848
Other revenue
$142,619
Total assets, end of year
$64,335,725
Total liabilities, end of year
$41,030,658
Net assets or fund balances, end of year
$23,305,067
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$25,551,489

Program services were 0.0% 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: RESIDENTIAL SALES

    total $18,732,468 · related or exempt $18,732,468

  • 2b · Program service revenue: RENT FROM ELECTRIC PROPERTY

    total $3,032,184 · related or exempt $3,032,184

  • 2c · Program service revenue: LARGE LIGHTING & POWER SALES

    total $2,413,561 · related or exempt $2,413,561

  • 2d · Program service revenue: SMALL LIGHTING & POWER SALES

    total $2,212,594 · related or exempt $2,212,594

  • 2e · Program service revenue: FD CONNECT

    total $1,674,351 · related or exempt $1,674,351

  • 2f · All other program service revenue

    total -$2,112,584 · related or exempt -$2,112,584

  • 3 · Investment income

    total $1,213,048 · related or exempt $1,213,048

  • 7a · Gross sales of assets other than inventory

    other assets $6,800

  • 7c · Gain or loss

    other assets $6,800

  • 7d · Net gain or loss

    total $6,800 · related or exempt $6,800

  • 11a · Other revenue: FORFEITED DISCOUNTS

    total $138,973 · related or exempt $138,973

  • 11b · Other revenue: INCOME FROM JOBBING

    total $3,219 · related or exempt $3,219

  • 11c · Other revenue: OTHER ELECTRIC SERVICE

    total $427 · related or exempt $427

  • 11e · Other revenue, total

    $142,619

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $220,189

  • 7 · Other salaries and wages

    total $691,329

  • 12 · Advertising and promotion

    total $64,528

  • 13 · Office expenses

    total $223,315

  • 16 · Occupancy

    total $83,697

  • 20 · Interest

    total $1,297,232

  • 22 · Depreciation, depletion and amortization

    total $2,316,833

  • 24a · Other expenses: PURCHASED POWER

    total $16,116,348

  • 24b · Other expenses: MAINTENANCE EXPENSE

    total $2,569,009

  • 24c · Other expenses: DISTRIBUTION (OPERATING)

    total $1,540,235

  • 24d · Other expenses: FD OPERATING

    total $1,296,475

  • 24e · All other expenses

    total -$867,701

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $942,106 · end of year $1,981,388

  • 4 · Accounts receivable

    beginning of year $2,372,635 · end of year $2,295,763

  • 8 · Inventories for sale or use

    beginning of year $1,139,655 · end of year $1,215,030

  • 9 · Prepaid expenses and deferred charges

    beginning of year $115,936 · end of year $131,380

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

    $76,294,340

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

    $19,460,924

  • 10c · Land, buildings and equipment, net

    beginning of year $54,638,964 · end of year $56,833,416

  • 12 · Investments: other securities

    beginning of year $325,323 · end of year $325,017

  • 15 · Other assets

    beginning of year $1,703,344 · end of year $1,553,731

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,325,735 · end of year $2,327,262

  • 23 · Secured mortgages and notes payable

    beginning of year $34,198,962 · end of year $35,762,177

  • 25 · Other liabilities

    beginning of year $3,172,236 · end of year $2,941,219

  • 29 · Capital stock, trust principal or current funds

    beginning of year $60,285 · end of year $60,770

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $1,692,177 · end of year $1,692,177

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,788,568 · end of year $21,552,120

Mission and programs · 2022

Mission

ELECTRICITY SALES ARE GENERATED FROM SALES OF POWER TO THE COOPERATIVE MEMBERS. REVENUES ARE USED TO OFFSET PURCHASES OF POWER.

  • ELECTRICITY SALES ARE GENERATED FROM SALES OF POWER TO THE COOPERATIVE MEMBERS. REVENUES ARE USED TO OFFSET PURCHASES OF POWER.

    Expenses $25,551,489 · Revenue $27,237,763

As filed on the 2022 return.

Listed in Part VII

  • Jeffery Newman

    GENERAL MANA

    Total calculated
    $186,569
    From this org
    $186,569
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,569
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $186,569

  • Keith Warren

    PRESIDENT

    Total calculated
    $6,425
    From this org
    $6,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ronnie Fisher

    DIRECTOR

    Total calculated
    $5,300
    From this org
    $5,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ronnie Roberts

    DIRECTOR

    Total calculated
    $5,300
    From this org
    $5,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lynn Burnett

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Wally Childress

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joe Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Walker

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • Ron Weir

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323529349300472

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