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Nonprofiteer
← COLQUITT ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by COLQUITT ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$169,746,610
Total expenses
$169,215,483
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$169,665,001
Investment income
$75,437
Other revenue
$6,172
Total assets, end of year
$343,469,059
Total liabilities, end of year
$187,929,771
Net assets or fund balances, end of year
$155,539,288
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: ELECTRICITY SALES

    total $166,502,529 · related or exempt $166,502,529

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $1,485,759 · related or exempt $1,485,759

  • 2c · Program service revenue: POLE RENTAL

    total $1,366,124 · excluded $1,366,124

  • 2d · Program service revenue: PATRONAGE CAP-ASSOC ORG

    total $310,589 · related or exempt $310,589

  • 3 · Investment income

    total $75,437 · excluded $75,437

  • 11a · Other revenue: GAIN/DISP OF PROPERTY

    total $6,172 · related or exempt $6,172

  • 11e · Other revenue, total

    $6,172

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,730,867

  • 5 · Compensation of officers, directors and key employees

    total $818,210

  • 13 · Office expenses

    total $1,011,269

  • 20 · Interest

    total $4,854,707

  • 22 · Depreciation, depletion and amortization

    total $11,541,110

  • 24a · Other expenses: PURCHASED POWER

    total $118,935,424

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $10,526,320

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $7,754,474

  • 24d · Other expenses: ADMINISTRATIVE & GENERAL

    total $4,896,029

  • 24e · All other expenses

    total $5,147,073

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,734,563 · end of year $5,696,674

  • 4 · Accounts receivable

    beginning of year $14,199,132 · end of year $18,576,226

  • 8 · Inventories for sale or use

    beginning of year $5,080,123 · end of year $6,673,817

  • 9 · Prepaid expenses and deferred charges

    beginning of year $449,378 · end of year $558,154

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

    $364,339,509

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

    $122,293,337

  • 10c · Land, buildings and equipment, net

    beginning of year $234,749,049 · end of year $242,046,172

  • 13 · Investments: program-related

    beginning of year $49,051,070 · end of year $50,740,622

  • 15 · Other assets

    beginning of year $2,394,391 · end of year $19,177,394

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,248,594 · end of year $21,861,011

  • 23 · Secured mortgages and notes payable

    beginning of year $128,062,269 · end of year $141,402,458

  • 25 · Other liabilities

    beginning of year $29,444,046 · end of year $24,666,302

  • 29 · Capital stock, trust principal or current funds

    beginning of year $290,630 · end of year $294,245

  • 31 · Retained earnings, endowment or other funds

    beginning of year $134,612,167 · end of year $155,245,043

Mission and programs · 2022

Mission

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.

Activities or mission (Part I)

COLQUITT ELECTRIC MEMBERSHIP CORPORATION SELLS ELECTRICITY AND PROVIDES SERVICES TO MEMBER-OWNERS AS A RURAL ELECTRIC COOPERATIVE.

  • 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.

  • 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

  • Daniel Nichols

    PRESIDENT/CE

    Total calculated
    $559,961
    From this org
    $452,209
    From related orgs
    $0
    Other
    $107,752
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $437,980
    Bonus
    $1,000
    Other
    $13,229
    Deferred
    $76,700
    Nontaxable benefits
    $31,052
    Filer's total
    $559,961

  • Douglas Loftis

    COO

    Total calculated
    $283,465
    From this org
    $225,269
    From related orgs
    $0
    Other
    $58,196
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,946
    Bonus
    $1,000
    Other
    $4,323
    Deferred
    $30,877
    Nontaxable benefits
    $27,319
    Filer's total
    $283,465

  • Charles Tucker

    VP OF ENGINE

    Total calculated
    $268,783
    From this org
    $199,072
    From related orgs
    $0
    Other
    $69,711
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,364
    Bonus
    $1,000
    Other
    $5,708
    Deferred
    $39,137
    Nontaxable benefits
    $30,574
    Filer's total
    $268,783

  • Brenda Aldridge

    CFO

    Total calculated
    $237,423
    From this org
    $172,898
    From related orgs
    $0
    Other
    $64,525
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,087
    Bonus
    $1,000
    Other
    $811
    Deferred
    $34,282
    Nontaxable benefits
    $30,243
    Filer's total
    $237,423

  • Jeffery Patterson

    VP INFORMATI

    Total calculated
    $210,742
    From this org
    $158,867
    From related orgs
    $0
    Other
    $51,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,587
    Bonus
    $1,000
    Other
    $6,280
    Deferred
    $25,012
    Nontaxable benefits
    $26,863
    Filer's total
    $210,742

  • Gary A Branch

    SECRETARY/TR

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • B Don Copeland

    DIRECTOR

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bobby E Exum

    DIRECTOR

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ben Griner

    DIRECTOR

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Huey Hiers

    DIRECTOR

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Simmie King

    DIRECTOR

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Patti Price Niewoehner

    CHAIRMAN

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Clay Underwood

    VICE CHAIRMA

    Total calculated
    $31,672
    From this org
    $31,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Thomas G Cothron III

    DIRECTOR

    Total calculated
    $4,873
    From this org
    $4,873
    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 · Form 990 of other organizations
  • 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
2022
Filed
15 February 2023
IRS schema version
2022v5.0
Source object
202310949349301411

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