Form 990 for tax year 2022
Filed by NORTH ALABAMA ELECTRIC COOPERATIVE.
Totals
- Total revenue
- $59,602,382
- Total expenses
- $56,820,087
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $58,612,954
- Investment income
- $309,249
- Other revenue
- $680,179
- Total assets, end of year
- $64,720,331
- Total liabilities, end of year
- $29,931,620
- Net assets or fund balances, end of year
- $34,788,711
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $49,894,602
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: SALES OF ELECTRICITY - RESIDENTIA
total $24,688,005 · related or exempt $24,688,005
-
2b · Program service revenue: SALES OF ELECTRICITY - LARGE COMM
total $15,286,982 · related or exempt $15,286,982
-
2c · Program service revenue: SALES OF ELECTRICITY - SMALL COMM
total $7,800,315 · related or exempt $7,800,315
-
2d · Program service revenue: BROADBAND REVENUE
total $6,465,006 · related or exempt $6,465,006
-
2e · Program service revenue: SALES OF ELECTRICITY - IND OUTDOO
total $902,792 · related or exempt $902,792
-
2f · All other program service revenue
total $3,469,854 · related or exempt $3,469,854
-
3 · Investment income
total $224,026 · related or exempt $224,026
-
6a · Gross rents
real property $680,179
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $680,179
-
6d · Net rental income or loss
total $680,179 · excluded $680,179
-
7a · Gross sales of assets other than inventory
securities $85,223
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $85,223
-
7d · Net gain or loss
total $85,223 · related or exempt $85,223
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $444,127
-
13 · Office expenses
total $283,113
-
16 · Occupancy
total $64,209
-
19 · Conferences, conventions and meetings
total $54,000
-
20 · Interest
total $213,349
-
22 · Depreciation, depletion and amortization
total $2,875,960
-
24a · Other expenses: COST OF POWER
total $36,060,588
-
24b · Other expenses: BROADBAND EXPENSES
total $4,381,271
-
24c · Other expenses: REPAIRS AND MAINTENANCE
total $2,802,960
-
24d · Other expenses: OPERATING TAXES
total $2,414,637
-
24e · All other expenses
total $7,225,873
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $17,473,122 · end of year $14,448,577
-
4 · Accounts receivable
beginning of year $4,575,396 · end of year $4,342,315
-
7 · Other notes and loans receivable
beginning of year $1,123,115 · end of year $926,873
-
8 · Inventories for sale or use
beginning of year $1,132,846 · end of year $1,631,872
-
9 · Prepaid expenses and deferred charges
beginning of year $433,030 · end of year $495,762
-
10a · Land, buildings and equipment: cost or other basis
$75,103,075
-
10b · Land, buildings and equipment: accumulated depreciation
$37,311,687
-
10c · Land, buildings and equipment, net
beginning of year $36,008,404 · end of year $37,791,388
-
13 · Investments: program-related
beginning of year $497,736 · end of year $4,512,031
-
15 · Other assets
beginning of year $0 · end of year $571,513
-
17 · Accounts payable and accrued expenses
beginning of year $8,218,837 · end of year $7,828,780
-
23 · Secured mortgages and notes payable
beginning of year $6,254,368 · end of year $6,134,899
-
25 · Other liabilities
beginning of year $15,568,980 · end of year $15,967,941
-
29 · Capital stock, trust principal or current funds
beginning of year $170,805 · end of year $172,700
-
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 $31,030,659 · end of year $34,616,011
Mission and programs · 2022
Mission
THE AIM OF NORTH ALABAMA ELECTRIC COOPERATIVE IS TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.
Activities or mission (Part I)
PROVIDING ELECTRIC ENERGY TO ITS MEMBERS
-
UTILIZING APPROXIMATELY 2,288 MILES OF DISTRIBUTION LINES, NORTH ALABAMA ELECTRIC COOPERATIVE PROVIDED 471,858,414 KWH'S OF ELECTRIC ENERGY TO ITS COOPERATIVE MEMBERS
Expenses $45,691,198
-
UTILIZING APPROXIMATELY 2,288 MILES OF FIBER INTERNET, NORTH ALABAMA ELECTRIC COOPERATIVE PROVIDED DEPENDABLE AND AFFORDABLE COMMUNICATION SERVICES TO ITS COOPERATIVE MEMBERS.
Expenses $4,203,404
As filed on the 2022 return.
Listed in Part VII
-
James GoinsJAMES GOINS
TRUSTEE
- Total calculated
- $20,950
- From this org
- $20,950
- From related orgs
- $0
- Other
- $0
- Hours/week
- 11
Schedule J breakdown matched by us
- Base
- $20,950
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $20,950
-
Steve CarverSTEVE CARVER
TRUSTEE
- Total calculated
- $27,265
- From this org
- $27,265
- From related orgs
- $0
- Other
- $0
- Hours/week
- 11
Schedule J breakdown matched by us
- Base
- $27,265
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $27,265
-
James O'NealJAMES O'NEAL
TRASURER
- Total calculated
- $9,390
- From this org
- $9,390
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- $9,390
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $9,390
-
Parks TubbsPARKS TUBBS
TRUSTEE
- Total calculated
- $17,499
- From this org
- $17,499
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- $17,499
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $17,499
-
Warren WhitcherWARREN WHITCHER
TRUSTEE
- Total calculated
- $10,806
- From this org
- $10,806
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- $10,806
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $10,806
-
Louis CrowderLOUIS CROWDER
TRUSTEE
- Total calculated
- $13,342
- From this org
- $13,342
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- $13,342
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $13,342
-
Willard TownsonWILLARD TOWNSON
PRESIDENT
- Total calculated
- $11,256
- From this org
- $11,256
- From related orgs
- $0
- Other
- $0
- Hours/week
- 12
Schedule J breakdown matched by us
- Base
- $11,256
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $11,256
-
Mark DoverMARK DOVER
TRUSTEE
- Total calculated
- $27,265
- From this org
- $27,265
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- $27,265
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $27,265
-
Bobby HicksBOBBY HICKS
TRUSTEE
- Total calculated
- $27,865
- From this org
- $27,865
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- $27,865
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $27,865
-
Bruce L PurdyBRUCE L PURDY
GENERAL MANAGER
- Total calculated
- $278,489
- From this org
- $278,489
- From related orgs
- $0
- Other
- $0
- Hours/week
- 57
Schedule J breakdown matched by us
- Base
- $278,489
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $278,489
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 · 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
- 7 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303139349302215
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