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Nonprofiteer
← HOUSTON COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by HOUSTON COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$52,562,593
Total expenses
$52,562,593
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$50,731,773
Investment income
$787,957
Other revenue
$1,042,863
Total assets, end of year
$162,423,449
Total liabilities, end of year
$81,523,089
Net assets or fund balances, end of year
$80,900,360
Program services expenses (Part IX)
$52,562,593
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$52,562,593

Program services were 100.0% 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 $50,731,773 · related or exempt $50,731,773

  • 3 · Investment income

    total $713,344 · related or exempt $713,344

  • 7a · Gross sales of assets other than inventory

    other assets $777,623

  • 7b · Less cost or other basis and sales expenses

    other assets $703,010

  • 7c · Gain or loss

    other assets $74,613

  • 7d · Net gain or loss

    total $74,613 · related or exempt $74,613

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Patronage Capital

    total $1,042,863 · related or exempt $1,042,863

  • 11e · Other revenue, total

    $1,042,863

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,356,348 · program services $4,356,348

  • 5 · Compensation of officers, directors and key employees

    total $624,530 · program services $624,530

  • 20 · Interest

    total $2,109,697 · program services $2,109,697

  • 22 · Depreciation, depletion and amortization

    total $6,016,393 · program services $6,016,393

  • 24a · Other expenses: Purchased Power

    total $27,946,012 · program services $27,946,012

  • 24b · Other expenses: Dist Oper and Maint

    total $7,971,946 · program services $7,971,946

  • 24c · Other expenses: Admin and Gen Exp

    total $2,846,742 · program services $2,846,742

  • 24d · Other expenses: Customer Acct amd Service

    total $1,121,453 · program services $1,121,453

  • 24e · All other expenses

    total -$430,528 · program services -$430,528

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,504,678 · end of year $3,996,619

  • 2 · Savings and temporary cash investments

    beginning of year $2,558,006 · end of year $12,398,892

  • 4 · Accounts receivable

    beginning of year $4,206,830 · end of year $4,438,701

  • 8 · Inventories for sale or use

    beginning of year $1,068,950 · end of year $1,284,595

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,202,172 · end of year $9,708,602

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

    $180,159,451

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

    $70,637,003

  • 10c · Land, buildings and equipment, net

    beginning of year $102,891,653 · end of year $109,522,448

  • 13 · Investments: program-related

    beginning of year $26,669,212 · end of year $21,073,592

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,803,961 · end of year $4,651,722

  • 23 · Secured mortgages and notes payable

    beginning of year $73,664,601 · end of year $72,770,027

  • 25 · Other liabilities

    beginning of year $4,287,489 · end of year $4,101,340

  • 31 · Retained earnings, endowment or other funds

    beginning of year $78,345,450 · end of year $80,900,360

Mission and programs · 2024

Mission

Providing and distributing reliable electric power to rural customers on a cooperative basis. In addition, Houston County Electric Cooperative assists the community with economic development.

  • For tax year 2024, we provided and distributed reliable power to rural customers on a cooperative basis.

    Expenses $52,562,593 · Revenue $52,562,593

As filed on the 2024 return.

Listed in Part VII

  • Kathi Calvert

    CEO & General Manager

    Total calculated
    $317,738
    From this org
    $249,530
    From related orgs
    $0
    Other
    $68,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,667
    Bonus
    $23,118
    Other
    $2,745
    Deferred
    $45,127
    Nontaxable benefits
    $23,081
    Filer's total
    $317,738

  • Mike Lane

    COO - Distribution

    Total calculated
    $200,430
    From this org
    $145,619
    From related orgs
    $0
    Other
    $54,811
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,899
    Bonus
    $11,934
    Other
    $786
    Deferred
    $28,567
    Nontaxable benefits
    $26,244
    Filer's total
    $200,430

  • Stacy Freeman

    COO - Transmission

    Total calculated
    $189,801
    From this org
    $136,481
    From related orgs
    $0
    Other
    $53,320
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,738
    Bonus
    $9,957
    Other
    $786
    Deferred
    $27,103
    Nontaxable benefits
    $26,217
    Filer's total
    $189,801

  • David Whittlesey

    Director

    Total calculated
    $11,150
    From this org
    $11,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • William Emmons

    Director

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Mitchell Huff

    Secretary

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kennom Kellum

    Vice-President

    Total calculated
    $10,400
    From this org
    $10,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mary Pearl Adams

    Director

    Total calculated
    $10,100
    From this org
    $10,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Dan Courmier

    President

    Total calculated
    $10,100
    From this org
    $10,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Larry Nelms

    Director

    Total calculated
    $10,050
    From this org
    $10,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Charles Siems

    Director

    Total calculated
    $9,750
    From this org
    $9,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Grady Wakefield

    Director

    Total calculated
    $9,750
    From this org
    $9,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

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

None.

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
2024
Filed
30 May 2025
IRS schema version
2024v5.1
Source object
202511509349301401

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