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Nonprofiteer
← ELECTRIC COOPERATIVES VOLUNTARY EMPLOYEES BENEFICIARY ASSOCIATION

Form 990 for tax year 2022

Filed by ELECTRIC COOPERATIVES VOLUNTARY EMPLOYEES BENEFICIARY ASSOCIATION.

Totals

Total revenue
$33,927,826
Total expenses
$34,442,300
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$33,847,135
Investment income
$80,691
Other revenue
$0
Total assets, end of year
$3,537,505
Total liabilities, end of year
$3,089,369
Net assets or fund balances, end of year
$448,136
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: PREMIUMS COLLECTED

    total $33,746,487 · unrelated business $33,746,487

  • 2b · Program service revenue: REINSURANCE PREMIUMS REIMBURSEMEN

    total $100,648 · unrelated business $100,648

  • 3 · Investment income

    total $80,691 · excluded $80,691

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $32,461,680

  • 11a · Fees: management

    total $195,700

  • 11b · Fees: legal

    total $7,408

  • 11c · Fees: accounting

    total $22,550

  • 11g · Fees: other

    total $1,421,101

  • 13 · Office expenses

    total $2,968

  • 24a · Other expenses: REINSURANCE EXPENSES

    total $435,482

  • 24b · Other expenses: EXCISE TAXES

    total $13,133

  • 24c · Other expenses: IBNR

    total -$117,722

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $457,964 · end of year $458,725

  • 2 · Savings and temporary cash investments

    beginning of year $1,207,067 · end of year $522,419

  • 4 · Accounts receivable

    beginning of year $304,387 · end of year $206,749

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,406 · end of year $47,933

  • 11 · Investments: publicly traded securities

    beginning of year $2,547,155 · end of year $2,301,679

  • 17 · Accounts payable and accrued expenses

    beginning of year $271,107 · end of year $236,653

  • 19 · Deferred revenue

    beginning of year $2,778

  • 25 · Other liabilities

    beginning of year $2,982,837 · end of year $2,852,716

  • 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 $1,263,257 · end of year $448,136

Mission and programs · 2022

Mission

COLLECTION OF PARTICIPATING EMPLOYER CONTRIBUTIONS TO FUND HEALTH AND WELFARE PLAN. FUNDS ARE USED TO PAY HEALTH CLAIMS COSTS AND ADMINISTRATIVE EXPENSES OF OPERATION OF THE PLAN.

Activities or mission (Part I)

THE PLAN PROVIDES HEALTH BENEFITS FOR PARTICIPATING EMPLOYERS.

  • COLLECTION OF PARTICIPATING EMPLOYER CONTRIBUTIONS TO FUND HEALTH AND WELFARE PLAN. FUNDS ARE USED TO PAY HEALTH CLAIMS COSTS AND ADMINISTRATIVE EXPENSES OF OPERATION OF THE PLAN.

As filed on the 2022 return.

Listed in Part VII

  • John Bartley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Scott Bobo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Derek Chandler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Jon Cullimore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Tim Culpepper

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Steve Foshee

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Gena Hall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Jeff Hodges

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Vince Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Daryl Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • George Kitchens

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Terry Moseley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Scott Seay

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Ed Short

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Gary Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Louie Ward

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Stacey White

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Tom Stackhouse

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Les Moreland

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • David Bailey

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Karl Rayborn

    TREASURER

    Total calculated
    $392,068
    From this org
    $0
    From related orgs
    $299,514
    Other
    $92,554
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $272,414 related
    Bonus
    $0
    Other
    $0 + $27,100 related
    Deferred
    $0 + $78,680 related
    Nontaxable benefits
    $0 + $13,874 related
    Filer's total
    $0 + $392,068 related

  • Brian Matney

    ADMINISTRATOR

    Total calculated
    $206,204
    From this org
    $0
    From related orgs
    $166,000
    Other
    $40,204
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,568 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $432 related
    Deferred
    $0 + $28,010 related
    Nontaxable benefits
    $0 + $12,194 related
    Filer's total
    $0 + $206,204 related

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 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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202323149349302372

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