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Nonprofiteer
← AIKEN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by AIKEN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$129,207,135
Total expenses
$131,858,114
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$128,660,485
Investment income
$3,197,629
Other revenue
-$2,650,979
Total assets, end of year
$416,693,144
Total liabilities, end of year
$290,039,577
Net assets or fund balances, end of year
$126,653,567
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 REVENUE

    total $125,479,353 · related or exempt $125,479,353

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $2,980,220 · related or exempt $2,980,220

  • 2c · Program service revenue: POLE RENTAL

    total $200,912 · excluded $200,912

  • 3 · Investment income

    total $3,197,629 · excluded $3,197,629

  • 11a · Other revenue: EQUITY IN EARNINGS OF AECONNE

    total -$2,650,979 · related or exempt -$2,650,979

  • 11e · Other revenue, total

    -$2,650,979

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,457,273

  • 5 · Compensation of officers, directors and key employees

    total $922,584

  • 20 · Interest

    total $7,063,567

  • 22 · Depreciation, depletion and amortization

    total $9,922,634

  • 24a · Other expenses: PURCHASED POWER

    total $76,737,864

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $10,468,272

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $8,102,072

  • 24d · Other expenses: ADMIN. & GENERAL EXP.

    total $5,930,733

  • 24e · All other expenses

    total $5,253,115

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $945,878 · end of year $3,476,921

  • 4 · Accounts receivable

    beginning of year $10,849,342 · end of year $13,725,068

  • 8 · Inventories for sale or use

    beginning of year $12,126,894 · end of year $43,475,395

  • 9 · Prepaid expenses and deferred charges

    beginning of year $593,873 · end of year $758,331

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

    $402,801,108

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

    $113,254,515

  • 10c · Land, buildings and equipment, net

    beginning of year $238,231,386 · end of year $289,546,593

  • 13 · Investments: program-related

    beginning of year $58,965,202 · end of year $51,349,733

  • 15 · Other assets

    beginning of year $15,479,609 · end of year $14,361,103

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,401,069 · end of year $29,258,889

  • 23 · Secured mortgages and notes payable

    beginning of year $173,684,443 · end of year $255,707,120

  • 25 · Other liabilities

    beginning of year $5,029,946 · end of year $5,073,568

  • 29 · Capital stock, trust principal or current funds

    beginning of year $380,696 · end of year $388,309

  • 31 · Retained earnings, endowment or other funds

    beginning of year $140,696,030 · end of year $126,265,258

Mission and programs · 2022

Mission

AIKEN ELECTRIC COOPERATIVE, INC. WILL STRIVE TO PROVIDE RELIABLE, COMPETITIVELY PRICED ENERGY AND OTHER SERVICES THAT ARE DESIRED BY THE MEMBERSHIP.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • J Strom Thurmond Jr

    PRESIDENT

    Total calculated
    $19,020
    From this org
    $17,470
    From related orgs
    $1,550
    Other
    $0
    Hours/week
    4.39 + 1 related

  • Robert Curry

    VICE PRESIDE

    Total calculated
    $30,907
    From this org
    $29,907
    From related orgs
    $1,000
    Other
    $0
    Hours/week
    8.88 + 1 related

  • Linda Bramlett

    SECRETARY/TR

    Total calculated
    $17,384
    From this org
    $15,884
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    9.44 + 1 related

  • Charles Sanders Jr

    ASSISTANT SE

    Total calculated
    $24,477
    From this org
    $22,977
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    6.13 + 1 related

  • Otis Dewitt Livingston

    TRUSTEE

    Total calculated
    $20,078
    From this org
    $18,578
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    6.13 + 1 related

  • O Frank Dorn

    TRUSTEE

    Total calculated
    $39,386
    From this org
    $37,886
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    10.21 + 1 related

  • Vincent Furtick Jr

    TRUSTEE

    Total calculated
    $50,893
    From this org
    $49,393
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    5.27 + 1 related

  • Dana Moseley

    TRUSTEE

    Total calculated
    $31,578
    From this org
    $30,078
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    11.95 + 1 related

  • James E Stewart Jr

    TRUSTEE

    Total calculated
    $32,336
    From this org
    $30,836
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    8.35 + 1 related

  • Scott Riddle

    TRUSTEE

    Total calculated
    $46,885
    From this org
    $44,860
    From related orgs
    $2,025
    Other
    $0
    Hours/week
    5.85 + 1 related

  • Theo R Williams

    FORMER TRUST

    Total calculated
    $11,251
    From this org
    $11,251
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $11,251
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $11,251

  • Wayne Furtick

    FORMER TRUST

    Total calculated
    $11,552
    From this org
    $11,552
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $11,552
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $11,552

  • Gary L Stooksbury

    CEO

    Total calculated
    $624,715
    From this org
    $418,727
    From related orgs
    $0
    Other
    $205,988
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $389,941
    Bonus
    $2,300
    Other
    $26,486
    Deferred
    $182,151
    Nontaxable benefits
    $23,837
    Filer's total
    $624,715

  • Dan Garman

    VP ENGINEERI

    Total calculated
    $438,326
    From this org
    $232,462
    From related orgs
    $0
    Other
    $205,864
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $209,805
    Bonus
    $2,300
    Other
    $20,357
    Deferred
    $182,027
    Nontaxable benefits
    $23,837
    Filer's total
    $438,326

  • William Inman

    VP STRATEGIC

    Total calculated
    $293,154
    From this org
    $192,922
    From related orgs
    $0
    Other
    $100,232
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $171,436
    Bonus
    $2,300
    Other
    $19,186
    Deferred
    $76,395
    Nontaxable benefits
    $23,837
    Filer's total
    $293,154

  • Casey Grice

    CREW CHIEF

    Total calculated
    $216,636
    From this org
    $167,415
    From related orgs
    $0
    Other
    $49,221
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $164,421
    Bonus
    $2,600
    Other
    $394
    Deferred
    $49,221
    Nontaxable benefits
    not reported
    Filer's total
    $216,636

  • April Collins

    VP FINANCE A

    Total calculated
    $298,190
    From this org
    $157,025
    From related orgs
    $0
    Other
    $141,165
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $154,030
    Bonus
    $2,300
    Other
    $695
    Deferred
    $117,327
    Nontaxable benefits
    $23,838
    Filer's total
    $298,190

  • Nicholas Stoker

    SR. SUBSTATI

    Total calculated
    $227,808
    From this org
    $157,709
    From related orgs
    $0
    Other
    $70,099
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $154,739
    Bonus
    $2,600
    Other
    $370
    Deferred
    $46,262
    Nontaxable benefits
    $23,837
    Filer's total
    $227,808

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 · Form 990 of other organizations
  • 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.

Related corporations and trusts

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

  • AECONNECT INC

    BROADBAND · SC · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
30 October 2023
IRS schema version
2022v5.0
Source object
202303189349304555

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