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Nonprofiteer
← COMMUNITY ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by COMMUNITY ELECTRIC COOPERATIVE.

Totals

Total revenue
$28,858,797
Total expenses
$27,899,573
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,050,140
Investment income
$50,902
Other revenue
$1,757,755
Total assets, end of year
$58,172,989
Total liabilities, end of year
$28,129,373
Net assets or fund balances, end of year
$30,043,616
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: SALE OF ELECTRICITY

    total $26,450,116 · related or exempt $26,450,116

  • 2b · Program service revenue: CASH PATRONAGE RECEIVED

    total $332,359 · related or exempt $332,359

  • 2c · Program service revenue: CONT. IN AID OF CONSTRUCT

    total $267,665 · related or exempt $267,665

  • 3 · Investment income

    total $26,102 · excluded $26,102

  • 6a · Gross rents

    personal property $149,289

  • 6c · Rental income or loss

    personal property $149,289

  • 6d · Net rental income or loss

    total $149,289 · excluded $149,289

  • 7a · Gross sales of assets other than inventory

    other assets $24,800

  • 7c · Gain or loss

    other assets $24,800

  • 7d · Net gain or loss

    total $24,800 · excluded $24,800

  • 11a · Other revenue: ADMIN. SERVICES

    total $1,566,633 · unrelated business $1,566,633

  • 11b · Other revenue: INCOME FROM EQUITY INV.

    total $31,545 · related or exempt $31,545

  • 11c · Other revenue: LIGHTING MAINT. CONTRACT

    total $9,436 · related or exempt $9,436

  • 11d · All other revenue

    total $852 · unrelated business $852

  • 11e · Other revenue, total

    $1,608,466

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,101,046

  • 7 · Other salaries and wages

    total $2,812,284

  • 8 · Pension plan contributions

    total $402,463

  • 10 · Payroll taxes

    total $283,244

  • 11b · Fees: legal

    total $59,128

  • 17 · Travel

    total $837,176

  • 19 · Conferences, conventions and meetings

    total $37,674

  • 20 · Interest

    total $737,757

  • 22 · Depreciation, depletion and amortization

    total $2,111,522

  • 24a · Other expenses: COST OF POWER

    total $18,597,724

  • 24b · Other expenses: DIST. MAINTENANCE

    total $1,098,581

  • 24c · Other expenses: DIST. OPERATION

    total $973,937

  • 24d · Other expenses: GENERAL AND ADMIN.

    total $573,142

  • 24e · All other expenses

    total -$1,726,105

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $605,630 · end of year $306,750

  • 2 · Savings and temporary cash investments

    beginning of year $138,207 · end of year $60,789

  • 4 · Accounts receivable

    beginning of year $2,639,048 · end of year $4,478,943

  • 8 · Inventories for sale or use

    beginning of year $2,168,932 · end of year $3,172,312

  • 9 · Prepaid expenses and deferred charges

    beginning of year $972,121 · end of year $954,586

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

    $62,001,294

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

    $29,511,625

  • 10c · Land, buildings and equipment, net

    beginning of year $31,394,042 · end of year $32,489,669

  • 12 · Investments: other securities

    beginning of year $4,054,737 · end of year $3,695,300

  • 13 · Investments: program-related

    beginning of year $12,162,020 · end of year $12,104,729

  • 15 · Other assets

    beginning of year $1,030,723 · end of year $909,911

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,379,452 · end of year $3,511,990

  • 23 · Secured mortgages and notes payable

    beginning of year $21,103,532 · end of year $22,249,539

  • 25 · Other liabilities

    beginning of year $2,015,400 · end of year $2,367,844

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,667,076 · end of year $30,043,616

Mission and programs · 2022

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF COMMUNITY ELECTRIC COOPERATIVE

  • THE COOPERATIVE'S MAJOR PROGRAM SERVICE ACCOMPLISHMENT WAS THE SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 18,597,724 OTHER SALARIES AND WAGES 2,812,284 DEPRECIATION AND AMORTIZATION 2,111,522

As filed on the 2022 return.

Listed in Part VII

  • Steven A Harmon

    PRESIDENT AN

    Total calculated
    $532,534
    From this org
    $444,547
    From related orgs
    $0
    Other
    $87,987
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $414,346
    Bonus
    not reported
    Other
    $30,201
    Deferred
    $63,201
    Nontaxable benefits
    $24,786
    Filer's total
    $532,534

  • Herman G Presson

    MGR OF OPERA

    Total calculated
    $229,729
    From this org
    $116,151
    From related orgs
    $0
    Other
    $113,578
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $115,151
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $91,868
    Nontaxable benefits
    $21,710
    Filer's total
    $229,729

  • Jonathan D Thompson

    COO

    Total calculated
    $217,282
    From this org
    $149,995
    From related orgs
    $0
    Other
    $67,287
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,995
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $45,727
    Nontaxable benefits
    $21,560
    Filer's total
    $217,282

  • Danny T Beale

    LINEMAN

    Total calculated
    $190,158
    From this org
    $136,744
    From related orgs
    $0
    Other
    $53,414
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $135,744
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $41,417
    Nontaxable benefits
    $11,997
    Filer's total
    $190,158

  • Daryl Walls

    VP OF BUS DE

    Total calculated
    $185,553
    From this org
    $133,724
    From related orgs
    $0
    Other
    $51,829
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $132,724
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $30,609
    Nontaxable benefits
    $21,220
    Filer's total
    $185,553

  • Jonathan Powell

    LEAD LINEMAN

    Total calculated
    $157,505
    From this org
    $104,361
    From related orgs
    $0
    Other
    $53,144
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $103,361
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $18,068
    Nontaxable benefits
    $35,076
    Filer's total
    $157,505

  • Danielle Beale

    MGR OF ACCOU

    Total calculated
    $141,116
    From this org
    $117,241
    From related orgs
    $0
    Other
    $23,875
    Hours/week
    41

  • Daniel Hobson

    JOURNEYMAN L

    Total calculated
    $127,808
    From this org
    $106,945
    From related orgs
    $0
    Other
    $20,863
    Hours/week
    48

  • Jeannette S Everett

    CHAIRMAN

    Total calculated
    $22,603
    From this org
    $21,403
    From related orgs
    $1,200
    Other
    $0
    Hours/week
    4.38

  • John W Stewart

    ASST. SEC-TR

    Total calculated
    $20,603
    From this org
    $19,003
    From related orgs
    $1,600
    Other
    $0
    Hours/week
    3.68

  • R Brian Jones Sr

    DIRECTOR

    Total calculated
    $20,203
    From this org
    $20,203
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.25

  • Douglas A Chesson

    DIRECTOR

    Total calculated
    $19,603
    From this org
    $19,603
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.38

  • Diana F Beale

    SEC-TREAS

    Total calculated
    $19,203
    From this org
    $17,603
    From related orgs
    $1,600
    Other
    $0
    Hours/week
    1.26

  • Michael A Faulk

    VICE-CHAIRMA

    Total calculated
    $18,703
    From this org
    $17,103
    From related orgs
    $1,600
    Other
    $0
    Hours/week
    1.19

  • Chad N Fowler

    DIRECTOR

    Total calculated
    $17,153
    From this org
    $17,153
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.16

  • Jason B Carr

    DIRECTOR

    Total calculated
    $16,803
    From this org
    $16,803
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.65

  • Kara D Hearn

    DIRECTOR

    Total calculated
    $16,803
    From this org
    $16,803
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.18

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 · Compensation survey or study
  • 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
STEVEN A. HARMON 0 51,001 0

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • RECORE SERVICES LLC

    POLE INSP. · VA · income -$401,637

    Directly controlled by RECORE LLC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FRANKLIN REC SOLAR LLC

    UNRELATED · SOLAR FARM · IA · share of income $42,570

    Directly controlled by RECORE LLC

  • PRICE ELECTRIC LLC

    UNRELATED · SOLAR FARM · WI · share of income -$21,733

    Directly controlled by RECORE LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RECORE LLC

    GEN LEASES · VA · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202333169349300463

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