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Nonprofiteer
← COVINGTON ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by COVINGTON ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$74,939,620
Total expenses
$69,508,954
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$68,648,418
Investment income
$1,868,387
Other revenue
$4,422,815
Total assets, end of year
$257,513,080
Total liabilities, end of year
$154,940,862
Net assets or fund balances, end of year
$102,572,218
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: SALES OF ELECTRICITY

    total $65,568,684 · related or exempt $65,568,684

  • 2b · Program service revenue: POLE RENTALS

    total $2,630,675 · excluded $2,630,675

  • 2c · Program service revenue: OTHER SALES TO MEMBERS

    total $449,059 · excluded $449,059

  • 3 · Investment income

    total $1,868,387 · excluded $1,868,387

  • 6a · Gross rents

    real property $4,234,590

  • 6c · Rental income or loss

    real property $4,234,590

  • 6d · Net rental income or loss

    total $4,234,590 · unrelated business $4,234,590

  • 11a · Other revenue: GAIN/LOSS ON ASSET DISPOSALS

    total $188,225 · excluded $188,225

  • 11e · Other revenue, total

    $188,225

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $625,478

  • 5 · Compensation of officers, directors and key employees

    total $864,753

  • 7 · Other salaries and wages

    total $661,132

  • 20 · Interest

    total $4,761,318

  • 22 · Depreciation, depletion and amortization

    total $7,208,026

  • 24a · Other expenses: COST OF POWER

    total $39,165,127

  • 24b · Other expenses: DIST EXP - MAINTENANCE

    total $4,927,433

  • 24c · Other expenses: DIST EXP - OPERATIONS

    total $3,217,235

  • 24d · Other expenses: ADMIN & GENERAL EXP

    total $2,973,911

  • 24e · All other expenses

    total $5,104,541

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,328,462 · end of year $6,477,924

  • 2 · Savings and temporary cash investments

    beginning of year $150,000 · end of year $13,150,000

  • 3 · Pledges and grants receivable

    beginning of year $1,382,254 · end of year $1,382,254

  • 4 · Accounts receivable

    beginning of year $1,609,525 · end of year $2,099,300

  • 7 · Other notes and loans receivable

    beginning of year $8,735,405 · end of year $8,423,110

  • 8 · Inventories for sale or use

    beginning of year $3,443,603 · end of year $2,850,143

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,332,834 · end of year $4,932,023

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

    $238,343,178

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

    $56,204,282

  • 10c · Land, buildings and equipment, net

    beginning of year $178,706,811 · end of year $182,138,896

  • 13 · Investments: program-related

    beginning of year $28,542,652 · end of year $29,148,161

  • 15 · Other assets

    beginning of year $8,293,523 · end of year $6,911,269

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,995,512 · end of year $13,131,011

  • 23 · Secured mortgages and notes payable

    beginning of year $126,976,207 · end of year $131,481,759

  • 25 · Other liabilities

    beginning of year $7,572,415 · end of year $10,328,092

  • 29 · Capital stock, trust principal or current funds

    beginning of year $101,618 · end of year $103,048

  • 31 · Retained earnings, endowment or other funds

    beginning of year $96,879,317 · end of year $102,469,170

Mission and programs · 2025

Mission

THE COOPERATIVE'S PRIMARY MISSION IS TO PROVIDE SERVICE TO ITS APPROXIMATELY 23,000 MEMBER-OWNERS IN SOUTHERN ALABAMA.

Activities or mission (Part I)

THE COOPERATIVE OPERATES AS AN ELECTRIC DISTRIBUTION COOPERATIVE.

  • DISTRIBUTION OF ELECTRIC ENERGY TO COOPERATIVE MEMBERS.

  • SALARIES OF MANAGEMENT AND KEY PERSONNEL ARE REVIEWED BY THE BOARD USING COMPARABLE DATA FROM OTHERS IN THE INDUSTRY. PERIODICALLY, POSITIONS AND SALARIES ARE REVIEWED BY AN OUTSIDE CONSULTANT.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mark G Parker

    PRESIDENT &

    Total calculated
    $443,714
    From this org
    $300,863
    From related orgs
    $0
    Other
    $142,851
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $299,250
    Bonus
    $1,613
    Other
    not reported
    Deferred
    $116,696
    Nontaxable benefits
    $26,155
    Filer's total
    $443,714

  • Kimberly M Carter

    VP FINANCE

    Total calculated
    $352,977
    From this org
    $200,104
    From related orgs
    $0
    Other
    $152,873
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,035
    Bonus
    $1,069
    Other
    not reported
    Deferred
    $140,180
    Nontaxable benefits
    $12,693
    Filer's total
    $352,977

  • Francis M Chirico

    DIRECTOR EN

    Total calculated
    $333,026
    From this org
    $195,174
    From related orgs
    $0
    Other
    $137,852
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $194,210
    Bonus
    $964
    Other
    not reported
    Deferred
    $113,951
    Nontaxable benefits
    $23,901
    Filer's total
    $333,026

  • Anthony Willis

    DIRECTOR TEL

    Total calculated
    $312,939
    From this org
    $161,684
    From related orgs
    $0
    Other
    $151,255
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,867
    Bonus
    $817
    Other
    not reported
    Deferred
    $146,956
    Nontaxable benefits
    $4,299
    Filer's total
    $312,939

  • Randall Helms

    OPERATIONS M

    Total calculated
    $232,653
    From this org
    $145,824
    From related orgs
    $0
    Other
    $86,829
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $145,038
    Bonus
    $786
    Other
    not reported
    Deferred
    $63,389
    Nontaxable benefits
    $23,440
    Filer's total
    $232,653

  • Tracy Turner

    NETWORK ENGI

    Total calculated
    $186,526
    From this org
    $124,049
    From related orgs
    $0
    Other
    $62,477
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $123,386
    Bonus
    $663
    Other
    not reported
    Deferred
    $39,700
    Nontaxable benefits
    $22,777
    Filer's total
    $186,526

  • Ronnie Dixon

    CONST FOREMA

    Total calculated
    $178,005
    From this org
    $114,863
    From related orgs
    $0
    Other
    $63,142
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $113,422
    Bonus
    $1,441
    Other
    not reported
    Deferred
    $39,238
    Nontaxable benefits
    $23,904
    Filer's total
    $178,005

  • Dustin Hinson

    CONST FOREMA

    Total calculated
    $149,547
    From this org
    $114,712
    From related orgs
    $0
    Other
    $34,835
    Hours/week
    45

  • Charles Grace

    TRUSTEE

    Total calculated
    $31,627
    From this org
    $31,627
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • James F Martin Jr

    ASST. SEC/TR

    Total calculated
    $30,277
    From this org
    $30,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.75 + 1 related

  • Willie B Smith Jr

    CHAIRMAN

    Total calculated
    $28,927
    From this org
    $28,927
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Patricia C Janasky

    VICE CHAIRMA

    Total calculated
    $25,327
    From this org
    $25,327
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.75

  • William G King Jr

    SECRETARY/TR

    Total calculated
    $23,977
    From this org
    $23,977
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jenelle Smith

    TRUSTEE

    Total calculated
    $22,820
    From this org
    $22,820
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • C Heflin Smith

    TRUSTEE

    Total calculated
    $5,657
    From this org
    $5,657
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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.

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.

  • COVINGTON RURAL SERVICES CORP

    SERVICES · AL

  • BUZZ BROADBAND

    C CORP · INTERNET · AL · share of income $8,045,068 · share of assets $6,092,183

    Directly controlled by COV RURAL

Provenance

Return type
form_990
Tax year
2025
Filed
7 May 2026
IRS schema version
2025v4.0
Source object
202631639349301328

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