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Nonprofiteer
← SHELBY ENERGY COOPERATIVE INC

Form 990 for tax year 2023

Filed by SHELBY ENERGY COOPERATIVE INC.

Totals

Total revenue
$53,500,392
Total expenses
$53,500,392
Contributions and grants received
$0
Grants paid
$3,000
Program service revenue
$51,259,784
Investment income
$170,820
Other revenue
$2,069,788
Total assets, end of year
$143,497,321
Total liabilities, end of year
$88,096,467
Net assets or fund balances, end of year
$55,400,854
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $51,259,784 · related or exempt $51,259,784

  • 3 · Investment income

    total $170,820 · excluded $170,820

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $661,963 · related or exempt $661,963

  • 11b · Other revenue: SUBSIDIARY INCOME

    total $562,488 · unrelated business $562,488

  • 11c · Other revenue: JOINT USE RENTS

    total $502,034 · excluded $502,034

  • 11d · All other revenue

    total $343,303 · related or exempt $343,303

  • 11e · Other revenue, total

    $2,069,788

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,000

  • 4 · Benefits paid to or for members

    total $173,867

  • 5 · Compensation of officers, directors and key employees

    total $302,185

  • 7 · Other salaries and wages

    total $2,149,152

  • 8 · Pension plan contributions

    total $281,480

  • 9 · Other employee benefits

    total $340,328

  • 10 · Payroll taxes

    total $172,084

  • 11b · Fees: legal

    total $41,984

  • 11c · Fees: accounting

    total $21,800

  • 13 · Office expenses

    total $180,217

  • 20 · Interest

    total $2,582,941

  • 22 · Depreciation, depletion and amortization

    total $4,177,725

  • 23 · Insurance

    total $154,463

  • 24a · Other expenses: PURCHASE POWER

    total $38,959,224

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $3,337,071

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $2,173,005

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $870,370

  • 24e · All other expenses

    total -$2,420,504

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,236,852 · end of year $3,855,360

  • 4 · Accounts receivable

    beginning of year $6,198,433 · end of year $6,088,790

  • 8 · Inventories for sale or use

    beginning of year $1,278,288 · end of year $1,941,984

  • 9 · Prepaid expenses and deferred charges

    beginning of year $315,560 · end of year $284,636

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

    $121,820,100

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

    $27,683,021

  • 10c · Land, buildings and equipment, net

    beginning of year $91,167,919 · end of year $94,137,079

  • 12 · Investments: other securities

    beginning of year $3,834,837 · end of year $3,801,497

  • 13 · Investments: program-related

    beginning of year $30,891,127 · end of year $31,820,115

  • 15 · Other assets

    beginning of year $2,301,132 · end of year $1,567,860

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,795,139 · end of year $4,075,618

  • 23 · Secured mortgages and notes payable

    beginning of year $72,967,689 · end of year $78,128,269

  • 25 · Other liabilities

    beginning of year $3,990,308 · end of year $5,892,580

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $55,471,012 · end of year $55,400,854

Mission and programs · 2023

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. PROVIDE ELECTRIC SERVICE TO OVER 17,830 CONSUMERS MONTHLY.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. PROVIDES ELECTRIC SERVICE TO OVER 17,830 CONSUMERS MONTHLY.

As filed on the 2023 return.

Listed in Part VII

  • Pat Hargadon

    DIRECTOR

    Total calculated
    $14,890
    From this org
    $14,890
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ashley Chilton

    CHAIRMAN

    Total calculated
    $14,300
    From this org
    $14,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Roger Taylor

    SEC/TREAS

    Total calculated
    $14,300
    From this org
    $14,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Diana Arnold

    DIRECTOR

    Total calculated
    $14,553
    From this org
    $14,553
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Wayne Stratton

    DIRECTOR

    Total calculated
    $14,300
    From this org
    $14,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeffrey Joyce

    DIRECTOR

    Total calculated
    $15,900
    From this org
    $15,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jack Bragg Jr

    PRESIDENT & CEO

    Total calculated
    $218,528
    From this org
    $213,942
    From related orgs
    $0
    Other
    $4,586
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,942
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,586
    Filer's total
    $218,528

  • Jason Ginn

    OPERATIONS/CONTRACT RESOUR

    Total calculated
    $198,936
    From this org
    $135,317
    From related orgs
    $0
    Other
    $63,619
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,317
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $63,619
    Filer's total
    $198,936

  • Randy Stevens

    SVP POWER DELIVERY SERVICE

    Total calculated
    $175,412
    From this org
    $140,565
    From related orgs
    $0
    Other
    $34,847
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,565
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,847
    Filer's total
    $175,412

  • Richard Spoonamore

    LEAD LINE TECHNICIAN

    Total calculated
    $158,993
    From this org
    $119,770
    From related orgs
    $0
    Other
    $39,223
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $119,770
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $39,223
    Filer's total
    $158,993

  • Kelly Michels

    LEAD LINE TECHNICIAN

    Total calculated
    $163,579
    From this org
    $121,393
    From related orgs
    $0
    Other
    $42,186
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $121,393
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $42,186
    Filer's total
    $163,579

  • Dylan Staples

    ENGINEERING MANAGER

    Total calculated
    $139,907
    From this org
    $123,118
    From related orgs
    $0
    Other
    $16,789
    Hours/week
    50

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 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.

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.

  • SHELBY ENERGY PROPANE PLUS LLC

    RETAIL SALE OF PROPANE GAS · KY · income $3,283,195 · assets $3,955,388

    Directly controlled by SHELBY ENERGY COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
26 April 2024
IRS schema version
2023v5.0
Source object
202411279349301856

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