Totals
- Total revenue
- $237,766,185
- Total expenses
- $237,766,185
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $232,713,777
- Investment income
- $868,752
- Other revenue
- $4,183,656
- Total assets, end of year
- $316,615,301
- Total liabilities, end of year
- $148,181,810
- Net assets or fund balances, end of year
- $168,433,491
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
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: Electric Service
total $232,716,194 · related or exempt $232,716,194 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Other
total -$2,417 · related or exempt -$2,417 · 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 $868,752 · related or exempt $0 · unrelated business $0 · excluded $868,752
-
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
-
7c · Gain or loss
securities $0 · other assets $0
-
11a · Other revenue: G&T Capital Credits
total $2,554,900 · related or exempt $0 · unrelated business $0 · excluded $2,554,900
-
11b · Other revenue: Joint Pole Attachments
total $1,137,879 · related or exempt $0 · unrelated business $0 · excluded $1,137,879
-
11c · Other revenue: Other Capital Credits
total $490,877 · related or exempt $0 · unrelated business $0 · excluded $490,877
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$4,183,656
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $6,365,643
-
5 · Compensation of officers, directors and key employees
total $2,609,762
-
7 · Other salaries and wages
total $5,083,425
-
8 · Pension plan contributions
total $1,294,017
-
9 · Other employee benefits
total $1,795,960
-
10 · Payroll taxes
total $502,087
-
11b · Fees: legal
total $37,900
-
11c · Fees: accounting
total $55,138
-
20 · Interest
total $3,647,968
-
22 · Depreciation, depletion and amortization
total $12,471,398
-
24a · Other expenses: Cost of Purchase Power
total $192,234,745
-
24b · Other expenses: Operations and Maintenance
total $8,018,669
-
24c · Other expenses: General and Administrative
total $1,932,594
-
24d · Other expenses: Customer Service and Accounts
total $1,665,682
-
24e · All other expenses
total $51,197
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,043,823 · end of year $1,751,320
-
2 · Savings and temporary cash investments
beginning of year $9,609,797 · end of year $17,212,986
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $21,052,191 · end of year $19,293,890
-
8 · Inventories for sale or use
beginning of year $2,297,059 · end of year $2,436,122
-
9 · Prepaid expenses and deferred charges
beginning of year $7,582,583 · end of year $5,819,979
-
10a · Land, buildings and equipment: cost or other basis
$354,474,861
-
10b · Land, buildings and equipment: accumulated depreciation
$186,656,840
-
10c · Land, buildings and equipment, net
beginning of year $165,234,112 · end of year $167,818,021
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $99,724,161 · end of year $102,282,983
-
17 · Accounts payable and accrued expenses
beginning of year $22,451,718 · end of year $18,783,081
-
23 · Secured mortgages and notes payable
beginning of year $94,203,053 · end of year $107,999,269
-
25 · Other liabilities
beginning of year $27,355,758 · end of year $21,399,460
-
29 · Capital stock, trust principal or current funds
beginning of year $1,313,185 · end of year $1,332,005
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $8,061,184 · end of year $8,578,865
-
31 · Retained earnings, endowment or other funds
beginning of year $155,158,828 · end of year $158,522,621
Mission and programs · 2023
Mission
Provide electric service to members on a patronage basis. Serve an average of 65,000 member accounts. Improve our Member's lives by providing safe, reliable, and affordable electric service.
Activities or mission (Part I)
Provide electric service to members on a patronage basis. Serve an average of 66,000 member accounts. Improve our members' lives by providing safe, reliable, affordable electric service.
-
Not Applicable
As filed on the 2023 return.
Listed in Part VII
-
Michael L Cobb
President and CEO
- Total calculated
- $409,248
- From this org
- $320,451
- From related orgs
- $0
- Other
- $88,797
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $320,451
- Bonus
- $0
- Other
- $0
- Deferred
- $67,470
- Nontaxable benefits
- $21,327
- Filer's total
- $409,248
-
Teresa Hamilton
VP of Accounting
- Total calculated
- $266,695
- From this org
- $199,765
- From related orgs
- $0
- Other
- $66,930
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $199,765
- Bonus
- $0
- Other
- $0
- Deferred
- $49,759
- Nontaxable benefits
- $17,171
- Filer's total
- $266,695
-
Jennifer Taylor
VP of Engineering
- Total calculated
- $250,958
- From this org
- $179,479
- From related orgs
- $0
- Other
- $71,479
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $179,479
- Bonus
- $0
- Other
- $0
- Deferred
- $58,727
- Nontaxable benefits
- $12,751
- Filer's total
- $250,957
-
Michael Stafford
VP of Member Services
- Total calculated
- $224,821
- From this org
- $152,737
- From related orgs
- $0
- Other
- $72,084
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $152,737
- Bonus
- $0
- Other
- $0
- Deferred
- $51,584
- Nontaxable benefits
- $20,500
- Filer's total
- $224,821
-
Jim Petreshock
VP of Information Systems
- Total calculated
- $224,071
- From this org
- $152,386
- From related orgs
- $0
- Other
- $71,685
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $152,386
- Bonus
- $0
- Other
- $0
- Deferred
- $51,182
- Nontaxable benefits
- $20,502
- Filer's total
- $224,070
-
Brian Jones
VP of Operations
- Total calculated
- $194,744
- From this org
- $167,220
- From related orgs
- $0
- Other
- $27,524
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $167,220
- Bonus
- $0
- Other
- $0
- Deferred
- $6,981
- Nontaxable benefits
- $20,543
- Filer's total
- $194,744
-
Steven Moore
Service Technician
- Total calculated
- $185,893
- From this org
- $139,251
- From related orgs
- $0
- Other
- $46,642
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $139,251
- Bonus
- $0
- Other
- $0
- Deferred
- $32,256
- Nontaxable benefits
- $14,385
- Filer's total
- $185,892
-
Jerod Mulberry
Service Technician
- Total calculated
- $177,159
- From this org
- $133,149
- From related orgs
- $0
- Other
- $44,010
- Hours/week
- 53
Schedule J breakdown matched by us
- Base
- $133,149
- Bonus
- $0
- Other
- $0
- Deferred
- $31,965
- Nontaxable benefits
- $12,045
- Filer's total
- $177,159
-
Albert Pickett
Service Technician
- Total calculated
- $172,735
- From this org
- $137,199
- From related orgs
- $0
- Other
- $35,536
- Hours/week
- 54
Schedule J breakdown matched by us
- Base
- $137,199
- Bonus
- $0
- Other
- $0
- Deferred
- $32,164
- Nontaxable benefits
- $3,372
- Filer's total
- $172,735
-
Joe Schmiade
Service Technician
- Total calculated
- $163,889
- From this org
- $145,805
- From related orgs
- $0
- Other
- $18,084
- Hours/week
- 56
Schedule J breakdown matched by us
- Base
- $145,805
- Bonus
- $0
- Other
- $0
- Deferred
- $5,987
- Nontaxable benefits
- $12,097
- Filer's total
- $163,889
-
Larry Richardson
Service Technician
- Total calculated
- $151,244
- From this org
- $142,392
- From related orgs
- $0
- Other
- $8,852
- Hours/week
- 54
Schedule J breakdown matched by us
- Base
- $142,392
- Bonus
- $0
- Other
- $0
- Deferred
- $5,809
- Nontaxable benefits
- $3,043
- Filer's total
- $151,244
-
Richard Messingschlager
Vice Chairman of the Board
- Total calculated
- $30,923
- From this org
- $30,923
- From related orgs
- $0
- Other
- $0
- Hours/week
- 9
-
John Grant
Chairman of the Board
- Total calculated
- $27,950
- From this org
- $27,950
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
-
Charles Richarson
Director
- Total calculated
- $24,999
- From this org
- $24,999
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Eddie McCord
Director
- Total calculated
- $22,211
- From this org
- $22,211
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Hope Kinman
Secretary/Treasurer
- Total calculated
- $21,659
- From this org
- $21,659
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Charles Alan Ahrman
Director
- Total calculated
- $20,773
- From this org
- $20,773
- From related orgs
- $0
- Other
- $0
- Hours/week
- 7
-
Erin Rehkamp
VP of Corporate Services
- Total calculated
- $20,425
- From this org
- $20,336
- From related orgs
- $0
- Other
- $89
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $20,336
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $89
- Filer's total
- $20,425
-
Robert True
Director
- Total calculated
- $19,365
- From this org
- $19,365
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
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
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 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
- 2023
- Filed
- 8 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202431249349302168
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