Skip to content
Nonprofiteer
← TAYLOR COUNTY RURAL ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2024

Filed by TAYLOR COUNTY RURAL ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$62,791,072
Total expenses
$62,791,072
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$61,913,057
Investment income
-$58,141
Other revenue
$936,156
Total assets, end of year
$114,642,587
Total liabilities, end of year
$51,007,633
Net assets or fund balances, end of year
$63,634,954
Program services expenses (Part IX)
$62,791,072
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$62,791,072

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: SALE OF ELECTRICITY

    total $61,913,057 · related or exempt $61,913,057

  • 3 · Investment income

    total $26,738 · excluded $26,738

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

    other assets $84,879

  • 7c · Gain or loss

    other assets -$84,879

  • 7d · Net gain or loss

    total -$84,879 · related or exempt -$84,879

  • 11a · Other revenue: OTHER CAPITAL CREDITS AND PATRONA

    total $360,985 · related or exempt $360,985

  • 11b · Other revenue: JOINT USE POLE ATTACH

    total $305,085 · excluded $305,085

  • 11c · Other revenue: G&T CAPITAL CREDITS

    total $270,086 · related or exempt $270,086

  • 11e · Other revenue, total

    $936,156

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,528,963 · program services $2,528,963

  • 5 · Compensation of officers, directors and key employees

    total $491,867 · program services $491,867

  • 7 · Other salaries and wages

    total $4,639,312 · program services $4,639,312

  • 8 · Pension plan contributions

    total $686,905 · program services $686,905

  • 9 · Other employee benefits

    total $1,272,224 · program services $1,272,224

  • 10 · Payroll taxes

    total $374,217 · program services $374,217

  • 11b · Fees: legal

    total $79,492 · program services $79,492

  • 11c · Fees: accounting

    total $35,157 · program services $35,157

  • 13 · Office expenses

    total $304,353 · program services $304,353

  • 20 · Interest

    total $2,225,776 · program services $2,225,776

  • 22 · Depreciation, depletion and amortization

    total $3,752,387 · program services $3,752,387

  • 23 · Insurance

    total $358,585 · program services $358,585

  • 24a · Other expenses: COST OF POWER

    total $45,200,427 · program services $45,200,427

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $2,628,882 · program services $2,628,882

  • 24c · Other expenses: ADMINISTRATIVE AND GENE

    total $2,539,556 · program services $2,539,556

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $2,374,022 · program services $2,374,022

  • 24e · All other expenses

    total -$6,701,053 · program services -$6,701,053

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,825,592 · end of year $1,984,373

  • 2 · Savings and temporary cash investments

    beginning of year $1,176,236 · end of year $890,082

  • 4 · Accounts receivable

    beginning of year $1,350,984 · end of year $786,066

  • 8 · Inventories for sale or use

    beginning of year $1,470,220 · end of year $1,637,408

  • 9 · Prepaid expenses and deferred charges

    beginning of year $240,045 · end of year $322,323

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

    $119,826,164

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

    $45,868,707

  • 10c · Land, buildings and equipment, net

    beginning of year $70,003,492 · end of year $73,957,457

  • 13 · Investments: program-related

    beginning of year $34,531,072 · end of year $35,013,927

  • 15 · Other assets

    beginning of year $174,690 · end of year $50,951

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,285,484 · end of year $690,334

  • 23 · Secured mortgages and notes payable

    beginning of year $40,098,157 · end of year $43,107,437

  • 25 · Other liabilities

    beginning of year $7,099,569 · end of year $7,209,862

  • 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 $240,566 · end of year $228,176

  • 31 · Retained earnings, endowment or other funds

    beginning of year $61,048,555 · end of year $63,406,778

Mission and programs · 2024

Mission

DISTRIBUTION SALES OF ELECTRICITY TO A MONTHLY AVERAGE OF APPROXIMATELY 28,085 CONSUMERS ON A PATRONAGE BASIS.

  • DISTRIBUTION SALES OF ELECTRICITY TO A MONTHLY AVERAGE OF APPROXIMATELY 28,085 CONSUMERS ON A PATRONAGE BASIS.

    Expenses $62,791,072 · Revenue $62,459,249

As filed on the 2024 return.

Listed in Part VII

  • Chad Taylor

    PRESIDENT

    Total calculated
    $18,825
    From this org
    $18,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Chris Tucker

    VICE-PRESIDENT

    Total calculated
    $23,375
    From this org
    $23,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Bradley Irvin

    TREASURER

    Total calculated
    $21,475
    From this org
    $21,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Greg Corbin

    DIRECTOR

    Total calculated
    $24,350
    From this org
    $24,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Mark Woodrum

    SECRETARY

    Total calculated
    $19,800
    From this org
    $19,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kyle Milby

    DIRECTOR

    Total calculated
    $19,800
    From this org
    $19,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Wayne Stearman

    DIRECTOR

    Total calculated
    $20,450
    From this org
    $20,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jeffrey Williams

    CEO

    Total calculated
    $306,789
    From this org
    $238,627
    From related orgs
    $0
    Other
    $68,162
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,627
    Bonus
    $0
    Other
    $0
    Deferred
    $38,115
    Nontaxable benefits
    $30,047
    Filer's total
    $306,789

  • Patsy Walters

    VP OF FINANCE & CUSTOMER SERVICE

    Total calculated
    $149,899
    From this org
    $105,165
    From related orgs
    $0
    Other
    $44,734
    Hours/week
    40

  • Mike Skaggs

    VP OF ENGINEERING

    Total calculated
    $175,825
    From this org
    $127,269
    From related orgs
    $0
    Other
    $48,556
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,269
    Bonus
    $0
    Other
    $0
    Deferred
    $20,616
    Nontaxable benefits
    $27,940
    Filer's total
    $175,825

  • Lawrence Long

    SERVICEMAN

    Total calculated
    $189,421
    From this org
    $148,415
    From related orgs
    $0
    Other
    $41,006
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $148,415
    Bonus
    $0
    Other
    $0
    Deferred
    $14,091
    Nontaxable benefits
    $26,915
    Filer's total
    $189,421

  • Tracy Moss

    SERVICEMAN

    Total calculated
    $173,257
    From this org
    $137,335
    From related orgs
    $0
    Other
    $35,922
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $137,335
    Bonus
    $0
    Other
    $0
    Deferred
    $13,826
    Nontaxable benefits
    $22,096
    Filer's total
    $173,257

  • John Edwards

    SERVICEMAN

    Total calculated
    $156,044
    From this org
    $119,569
    From related orgs
    $0
    Other
    $36,475
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $119,569
    Bonus
    $0
    Other
    $0
    Deferred
    $14,091
    Nontaxable benefits
    $22,384
    Filer's total
    $156,044

  • Steven Shofner

    FOREMAN

    Total calculated
    $168,612
    From this org
    $126,115
    From related orgs
    $0
    Other
    $42,497
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $126,115
    Bonus
    $0
    Other
    $0
    Deferred
    $14,784
    Nontaxable benefits
    $27,713
    Filer's total
    $168,612

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 · Written employment contract
  • 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.

Provenance

Return type
form_990
Tax year
2024
Filed
8 May 2025
IRS schema version
2024v5.1
Source object
202511339349304331

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.