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Nonprofiteer
← LYNTEGAR ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by LYNTEGAR ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$92,743,146
Total expenses
$92,050,779
Contributions and grants received
$0
Grants paid
$15,937
Program service revenue
$91,077,382
Investment income
$1,480,886
Other revenue
$184,878
Total assets, end of year
$301,859,596
Total liabilities, end of year
$146,174,581
Net assets or fund balances, end of year
$155,685,015
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: SALES OF ELECTRICITY

    total $78,184,056 · related or exempt $78,184,056

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $11,690,495 · related or exempt $11,690,495

  • 2c · Program service revenue: TRANSMISSION ACCESS

    total $871,853 · related or exempt $871,853

  • 2d · Program service revenue: SERVICE FEES

    total $330,978 · related or exempt $330,978

  • 3 · Investment income

    total $1,253,051 · excluded $1,253,051

  • 6a · Gross rents

    real property $14,545 · personal property $5,386

  • 6b · Less rental expenses

    real property $38,923 · personal property $0

  • 6c · Rental income or loss

    real property -$24,378 · personal property $5,386

  • 6d · Net rental income or loss

    total -$18,992 · related or exempt $5,386 · excluded -$24,378

  • 7a · Gross sales of assets other than inventory

    securities $28,967 · other assets $260,324

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

    securities $0 · other assets $61,456

  • 7c · Gain or loss

    securities $28,967 · other assets $198,868

  • 7d · Net gain or loss

    total $227,835 · related or exempt $198,868 · excluded $28,967

  • 11a · Other revenue: INTERNET MARKETING

    total $40,458 · unrelated business $40,458

  • 11b · Other revenue: POLE ATTACHMENT INCOME

    total $6,028 · excluded $6,028

  • 11c · Other revenue: PASS-THRU INVESTMENT INCOME(LOSS)

    total -$18,230 · unrelated business -$18,230

  • 11d · All other revenue

    total $175,614 · excluded $175,614

  • 11e · Other revenue, total

    $203,870

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,937

  • 4 · Benefits paid to or for members

    total $13,680,450

  • 5 · Compensation of officers, directors and key employees

    total $1,342,148

  • 7 · Other salaries and wages

    total $5,498,463

  • 8 · Pension plan contributions

    total $391,672

  • 9 · Other employee benefits

    total $963,482

  • 10 · Payroll taxes

    total $406,429

  • 20 · Interest

    total $5,335,053

  • 22 · Depreciation, depletion and amortization

    total $8,869,111

  • 24a · Other expenses: PURCHASED POWER

    total $48,672,317

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $4,438,653

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $1,761,663

  • 24d · Other expenses: CONSUMER EXPENSE

    total $410,347

  • 24e · All other expenses

    total $265,054

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $857,917 · end of year $513,441

  • 2 · Savings and temporary cash investments

    beginning of year $113,058 · end of year $1,020,831

  • 4 · Accounts receivable

    beginning of year $4,769,351 · end of year $4,927,882

  • 8 · Inventories for sale or use

    beginning of year $4,529,509 · end of year $4,879,552

  • 9 · Prepaid expenses and deferred charges

    beginning of year $754,552 · end of year $688,678

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

    $258,648,423

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

    $70,262,901

  • 10c · Land, buildings and equipment, net

    beginning of year $179,590,417 · end of year $188,385,522

  • 12 · Investments: other securities

    beginning of year $19,155,500 · end of year $20,283,917

  • 13 · Investments: program-related

    beginning of year $70,504,251 · end of year $80,218,302

  • 15 · Other assets

    beginning of year $1,648,641 · end of year $941,471

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,611,477 · end of year $8,417,557

  • 21 · Escrow or custodial account liability

    beginning of year $122,805 · end of year $136,279

  • 23 · Secured mortgages and notes payable

    beginning of year $122,617,321 · end of year $130,736,963

  • 25 · Other liabilities

    beginning of year $5,679,631 · end of year $6,883,782

  • 29 · Capital stock, trust principal or current funds

    beginning of year $29,440 · end of year $29,705

  • 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 $143,862,522 · end of year $155,655,310

Mission and programs · 2023

Mission

OWNED AND OPERATED BY THOSE WE SERVE.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 23,677 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Benjamin Franklin

    PRESIDENT

    Total calculated
    $29,396
    From this org
    $29,396
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.6

  • Kevin Mitchell

    VICE PRESIDENT

    Total calculated
    $22,194
    From this org
    $22,194
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.4

  • Billy Weaver

    SECRETARY/TREASURER

    Total calculated
    $23,124
    From this org
    $23,124
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.3

  • Hr Barron

    DIRECTOR (JAN-MAY)

    Total calculated
    $9,687
    From this org
    $9,687
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.8

  • Ricky Day

    DIRECTOR

    Total calculated
    $21,744
    From this org
    $21,744
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.1

  • Theron Tidwell

    DIRECTOR

    Total calculated
    $29,150
    From this org
    $29,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.6

  • Andrew Furlow

    DIRECTOR

    Total calculated
    $7,819
    From this org
    $7,819
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.3

  • Todd Howard

    DIRECTOR (AUG-DEC)

    Total calculated
    $8,998
    From this org
    $8,998
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.9

  • Gregory Henley

    CEO

    Total calculated
    $342,632
    From this org
    $274,346
    From related orgs
    $0
    Other
    $68,286
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $257,650
    Bonus
    $4,500
    Other
    $12,196
    Deferred
    $27,426
    Nontaxable benefits
    $40,860
    Filer's total
    $342,632

  • Ray Box

    CFO (JAN)

    Total calculated
    $179,915
    From this org
    $176,826
    From related orgs
    $0
    Other
    $3,089
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $6,701
    Bonus
    $375
    Other
    $169,750
    Deferred
    $724
    Nontaxable benefits
    $2,365
    Filer's total
    $179,915

  • Brenda Whitten

    CFO

    Total calculated
    $187,224
    From this org
    $152,998
    From related orgs
    $0
    Other
    $34,226
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $146,712
    Bonus
    $900
    Other
    $5,386
    Deferred
    $15,198
    Nontaxable benefits
    $19,028
    Filer's total
    $187,224

  • Ross Aten

    MANAGER OF ENGINEERING

    Total calculated
    $221,607
    From this org
    $165,584
    From related orgs
    $0
    Other
    $56,023
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $162,811
    Bonus
    $1,200
    Other
    $1,573
    Deferred
    $17,244
    Nontaxable benefits
    $38,779
    Filer's total
    $221,607

  • Barry Pittman

    MANAGER OF MEMBER SERVICES (JAN)

    Total calculated
    $258,658
    From this org
    $255,703
    From related orgs
    $0
    Other
    $2,955
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $5,888
    Bonus
    $200
    Other
    $249,615
    Deferred
    $641
    Nontaxable benefits
    $2,314
    Filer's total
    $258,658

  • Roddy Gandy

    LINE SUPERINTENDENT

    Total calculated
    $200,760
    From this org
    $152,377
    From related orgs
    $0
    Other
    $48,383
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,534
    Bonus
    $6,000
    Other
    $6,843
    Deferred
    $14,950
    Nontaxable benefits
    $33,433
    Filer's total
    $200,760

  • Brandon Bean

    JOURNEYMAN

    Total calculated
    $160,562
    From this org
    $134,089
    From related orgs
    $0
    Other
    $26,473
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $133,087
    Bonus
    $600
    Other
    $402
    Deferred
    $9,832
    Nontaxable benefits
    $16,641
    Filer's total
    $160,562

  • Jana Bishop

    MANAGER OF HUMAN RESOURCES

    Total calculated
    $158,241
    From this org
    $137,747
    From related orgs
    $0
    Other
    $20,494
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,490
    Bonus
    $1,800
    Other
    $3,457
    Deferred
    $13,487
    Nontaxable benefits
    $7,007
    Filer's total
    $158,241

  • Brent Fowler

    CREW FOREMAN

    Total calculated
    $150,738
    From this org
    $134,295
    From related orgs
    $0
    Other
    $16,443
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $130,572
    Bonus
    $2,400
    Other
    $1,323
    Deferred
    $10,658
    Nontaxable benefits
    $5,785
    Filer's total
    $150,738

  • Jesus Garza

    CREW FOREMAN

    Total calculated
    $146,686
    From this org
    $129,493
    From related orgs
    $0
    Other
    $17,193
    Hours/week
    45

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
GYM/FITNESS REIMBURSEMENT - ONE INDIVIDUAL REPORTED ON FORM 990 PART VII, BRANDON BEAN, RECEIVED THE BENEFIT DURING THE YEAR.

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LEC DEVELOPMENT LLC

    INTERNET AND INVESTMENTS · TX · income $2,167,990 · assets $21,692,249

    Directly controlled by LYNTEGAR ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349325462

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