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Nonprofiteer
← MARSHALL-DEKALB ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by MARSHALL-DEKALB ELECTRIC COOPERATIVE.

Totals

Total revenue
$19,675,444
Total expenses
$15,812,049
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,202,031
Investment income
$117,391
Other revenue
$18,356,022
Total assets, end of year
$99,231,302
Total liabilities, end of year
$31,949,037
Net assets or fund balances, end of year
$67,282,265
Program services expenses (Part IX)
$15,812,049
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$15,812,049

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: MISCELLANEOUS ELECTRIC

    total $1,202,031 · related or exempt $1,202,031

  • 3 · Investment income

    total $117,391 · related or exempt $117,391

  • 6a · Gross rents

    personal property $1,013,564

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $1,013,564

  • 6d · Net rental income or loss

    total $1,013,564 · excluded $1,013,564

  • 10a · Gross sales of inventory

    $59,050,296

  • 10b · Cost of goods sold

    $41,707,838

  • 10c · Net income from sales of inventory

    total $17,342,458 · related or exempt $17,342,458

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $340,287 · program services $340,287

  • 8 · Pension plan contributions

    total $1,797,830 · program services $1,797,830

  • 9 · Other employee benefits

    total $66,839 · program services $66,839

  • 10 · Payroll taxes

    total $260,478 · program services $260,478

  • 11b · Fees: legal

    total $33,595 · program services $33,595

  • 12 · Advertising and promotion

    total $94,042 · program services $94,042

  • 13 · Office expenses

    total $91,821 · program services $91,821

  • 20 · Interest

    total $568,201 · program services $568,201

  • 22 · Depreciation, depletion and amortization

    total $3,702,975 · program services $3,702,975

  • 24a · Other expenses: GROSS RECEIPTS AND PRIV

    total $2,061,818 · program services $2,061,818

  • 24b · Other expenses: DISTRIBUTION OPERATING

    total $2,030,587 · program services $2,030,587

  • 24c · Other expenses: DISTRIBUTION MAINTENANC

    total $1,660,944 · program services $1,660,944

  • 24d · Other expenses: CONSUMER ACCT EXPENSE

    total $1,634,629 · program services $1,634,629

  • 24e · All other expenses

    total $1,468,003 · program services $1,468,003

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,576,520 · end of year $3,289,396

  • 2 · Savings and temporary cash investments

    beginning of year $4,638,265 · end of year $2,739,131

  • 4 · Accounts receivable

    beginning of year $4,347,185 · end of year $3,771,935

  • 8 · Inventories for sale or use

    beginning of year $710,900 · end of year $863,538

  • 9 · Prepaid expenses and deferred charges

    beginning of year $157,313 · end of year $189,206

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

    $116,256,809

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

    $28,480,728

  • 10c · Land, buildings and equipment, net

    beginning of year $83,709,121 · end of year $87,776,081

  • 12 · Investments: other securities

    beginning of year $27,655 · end of year $27,655

  • 15 · Other assets

    beginning of year $898,767 · end of year $574,360

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,849,508 · end of year $17,283,101

  • 23 · Secured mortgages and notes payable

    beginning of year $15,299,108 · end of year $14,275,650

  • 25 · Other liabilities

    beginning of year $504,452 · end of year $390,286

  • 29 · Capital stock, trust principal or current funds

    beginning of year $146,597 · end of year $148,107

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $91,679 · end of year $91,601

  • 31 · Retained earnings, endowment or other funds

    beginning of year $63,174,382 · end of year $67,042,557

Mission and programs · 2022

Mission

PURCHASE AND SALE OF ELECTRICITY FOR ITS MEMBERSHIP

Activities or mission (Part I)

SALE OF ELECTRIC POWER

  • SALE OF ELECTRICITY PURCHASED FROM TVA 20,700 CUSTOMERS SERVED

    Expenses $15,812,049

As filed on the 2022 return.

Listed in Part VII

  • Bobby Weathers

    SEC/TREAS

    Total calculated
    $15,025
    From this org
    $15,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Briggs Patterson

    TRUSTEE

    Total calculated
    $15,061
    From this org
    $15,061
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jerry Scott

    TRUSTEE

    Total calculated
    $14,382
    From this org
    $14,382
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Lavaughn Holcomb

    PRESIDENT

    Total calculated
    $16,825
    From this org
    $16,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Terry Edmondson

    VICE PRESIDENT

    Total calculated
    $14,710
    From this org
    $14,710
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Steve Henley

    TRUSTEE

    Total calculated
    $14,421
    From this org
    $14,421
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Terry Johnson

    TRUSTEE

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William G Hulgan

    TRUSTEE

    Total calculated
    $13,921
    From this org
    $13,921
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Stephen P Davis

    TRUSTEE

    Total calculated
    $13,725
    From this org
    $13,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William S Bobo

    MANAGER

    Total calculated
    $165,794
    From this org
    $160,594
    From related orgs
    $0
    Other
    $5,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,594
    Bonus
    $0
    Other
    $0
    Deferred
    $5,200
    Nontaxable benefits
    $0
    Filer's total
    $165,794

  • Jennifer Oliver

    CFO

    Total calculated
    $113,396
    From this org
    $108,196
    From related orgs
    $0
    Other
    $5,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,196
    Bonus
    $0
    Other
    $0
    Deferred
    $5,200
    Nontaxable benefits
    $0
    Filer's total
    $113,396

  • Eric Lester

    CHIEF ENGINEER

    Total calculated
    $142,267
    From this org
    $142,267
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,267
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $142,267

  • Chris Brooks

    CONSTRUCTION SUPERVISOR

    Total calculated
    $123,851
    From this org
    $108,251
    From related orgs
    $0
    Other
    $15,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,251
    Bonus
    $0
    Other
    $0
    Deferred
    $15,600
    Nontaxable benefits
    $0
    Filer's total
    $123,851

  • Chris Cornelius

    SERVICE SUPERVISOR

    Total calculated
    $126,038
    From this org
    $126,038
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,038
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $126,038

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 · 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

The filer's explanations (Part III)

SCHEDULE J, PART 1, QUESTION 3:
THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS MAKES RECOMMENDATIONS FOR COMPENSATION TO THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. THE RECOMMENDED COMPENSATIONS ARE REVIEWED AND VOTED ON BY THE BOARD OF DIRECTORS ANNUALLY.

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
16 October 2023
IRS schema version
2022v5.0
Source object
202342909349300129

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