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Nonprofiteer
← JEFFERSON ENERGY COOPERATIVE

Form 990 for tax year 2022

Filed by JEFFERSON ENERGY COOPERATIVE.

Totals

Total revenue
$78,631,525
Total expenses
$78,631,525
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$78,563,327
Investment income
$67,799
Other revenue
$399
Total assets, end of year
$168,461,526
Total liabilities, end of year
$112,151,991
Net assets or fund balances, end of year
$56,309,535
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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 ENERGY REVENUE

    total $77,147,133 · related or exempt $77,147,133

  • 2b · Program service revenue: POLE RENTAL

    total $1,004,066 · excluded $1,004,066

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $412,128 · related or exempt $412,128

  • 3 · Investment income

    total $67,799 · excluded $67,799

  • 11a · Other revenue: OTHER

    total $399 · related or exempt $399

  • 11e · Other revenue, total

    $399

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,350,608

  • 5 · Compensation of officers, directors and key employees

    total $578,109

  • 13 · Office expenses

    total $709,300

  • 20 · Interest

    total $2,658,471

  • 22 · Depreciation, depletion and amortization

    total $6,129,635

  • 24a · Other expenses: PURCHASED POWER

    total $52,866,025

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $4,534,414

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $4,432,152

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $2,739,093

  • 24e · All other expenses

    total $2,633,718

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $705,706 · end of year $399,417

  • 4 · Accounts receivable

    beginning of year $6,137,978 · end of year $8,026,167

  • 8 · Inventories for sale or use

    beginning of year $1,553,502 · end of year $2,159,991

  • 9 · Prepaid expenses and deferred charges

    beginning of year $348,475 · end of year $217,533

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

    $206,209,213

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

    $53,674,362

  • 10c · Land, buildings and equipment, net

    beginning of year $149,026,423 · end of year $152,534,851

  • 13 · Investments: program-related

    beginning of year $4,917,542 · end of year $5,110,455

  • 15 · Other assets

    beginning of year $13,112 · end of year $13,112

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,310,886 · end of year $16,315,708

  • 23 · Secured mortgages and notes payable

    beginning of year $78,294,537 · end of year $82,638,235

  • 25 · Other liabilities

    beginning of year $14,085,204 · end of year $13,198,048

  • 29 · Capital stock, trust principal or current funds

    beginning of year $467,537 · end of year $462,972

  • 31 · Retained earnings, endowment or other funds

    beginning of year $55,544,574 · end of year $55,846,563

Mission and programs · 2022

Mission

JEFFERSON ENERGY COOPERATIVE'S MISSION IS TO SAFELY DELIVER RELIABLE AND COMPETITIVELY PRICED ELECTRICITY TO OUR MEMBER-CONSUMERS. WE DO THIS THROUGH A HIGHLY SKILLED, COMMITTED AND MOTIVATED WORKFORCE. WE SERVE TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND COMMUNITIES.

  • N/A

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ophelia McCain

    CHAIRMAN

    Total calculated
    $29,987
    From this org
    $29,987
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Mark Davis

    VICE CHAIRMA

    Total calculated
    $6,737
    From this org
    $6,737
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • James L Gay

    SECRETARY-TR

    Total calculated
    $12,737
    From this org
    $12,737
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • J Tim Garrett

    DIRECTOR

    Total calculated
    $17,443
    From this org
    $17,443
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.5

  • Larry Hadden

    DIRECTOR

    Total calculated
    $24,210
    From this org
    $24,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Joe Shurley

    DIRECTOR

    Total calculated
    $20,142
    From this org
    $20,142
    From related orgs
    $0
    Other
    $0
    Hours/week
    13

  • Eugene Tanzymore

    DIRECTOR

    Total calculated
    $18,761
    From this org
    $18,761
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.5

  • Derek Partridge

    DIRECTOR

    Total calculated
    $31,537
    From this org
    $31,537
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Tommy Phelps

    DIRECTOR

    Total calculated
    $22,737
    From this org
    $22,737
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Charles C Dillard

    PRESIDENT &

    Total calculated
    $393,818
    From this org
    $295,660
    From related orgs
    $0
    Other
    $98,158
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $283,985
    Bonus
    $5,205
    Other
    $6,470
    Deferred
    $82,076
    Nontaxable benefits
    $16,082
    Filer's total
    $393,818

  • Kenneth L Johnson

    VP-LINE SERV

    Total calculated
    $268,566
    From this org
    $200,839
    From related orgs
    $0
    Other
    $67,727
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $195,376
    Bonus
    $355
    Other
    $5,108
    Deferred
    $63,018
    Nontaxable benefits
    $4,709
    Filer's total
    $268,566

  • Kim Sharpe

    VP-CORPORATE

    Total calculated
    $230,287
    From this org
    $181,921
    From related orgs
    $0
    Other
    $48,366
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,329
    Bonus
    $152
    Other
    $9,440
    Deferred
    $37,408
    Nontaxable benefits
    $10,958
    Filer's total
    $230,287

  • Martin G Potter

    ASSOC VP- IN

    Total calculated
    $213,583
    From this org
    $169,255
    From related orgs
    $0
    Other
    $44,328
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,619
    Bonus
    $50
    Other
    $5,586
    Deferred
    $33,479
    Nontaxable benefits
    $10,849
    Filer's total
    $213,583

  • Wayne Gossage Jr

    VP-MEMBER SE

    Total calculated
    $211,744
    From this org
    $161,567
    From related orgs
    $0
    Other
    $50,177
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,869
    Bonus
    $254
    Other
    $1,444
    Deferred
    $37,547
    Nontaxable benefits
    $12,630
    Filer's total
    $211,744

  • Cameron Marchant

    MGR. LINE SE

    Total calculated
    $184,608
    From this org
    $140,540
    From related orgs
    $0
    Other
    $44,068
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,273
    Bonus
    not reported
    Other
    $1,267
    Deferred
    $31,998
    Nontaxable benefits
    $12,070
    Filer's total
    $184,608

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
OPHELIA MCCAIN 0 3,600 0 MARK DAVIS 0 20,500 0 JAMES L. GAY 0 8,000 0 J. TIM GARRETT 0 4,794 0
SCHEDULE J, PART III
NONQUALIFIED RETIREMENT PLAN AMOUNTS CONSIST OF BOARD PER-DIEM FEES DEFERRED UNDER IRC SECTION 457(B). AMOUNTS DEFERRED FOR THE YEAR ENDED DECEMBER 31, 2022 ARE NOT INCLUDED IN EACH DIRECTOR'S 1099-NEC COMPENSATION IN PART VII OF THE FORM 990.

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
27 September 2023
IRS schema version
2022v5.0
Source object
202312709349301451

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