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Nonprofiteer
← CRAIGHEAD ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2022

Filed by CRAIGHEAD ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$80,274,486
Total expenses
$80,274,486
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$77,312,108
Investment income
$2,927,908
Other revenue
$34,470
Total assets, end of year
$321,117,191
Total liabilities, end of year
$197,928,149
Net assets or fund balances, end of year
$123,189,042
Program services expenses (Part IX)
$80,274,486
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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 ELECTRIC ENERGY

    total $73,354,897 · related or exempt $73,354,897

  • 2b · Program service revenue: RENTAL - OFFICE SPACE

    total $3,262,678 · excluded $3,262,678

  • 2c · Program service revenue: RENTAL - EQUIPMENT

    total $665,437 · excluded $665,437

  • 2d · Program service revenue: CERTAIN PROPERTY

    total $19,115 · related or exempt $19,115

  • 2e · Program service revenue: MERCHANDISING

    total $9,981 · excluded $9,981

  • 3 · Investment income

    total $2,927,908 · related or exempt $699,863 · excluded $2,228,045

  • 11a · Other revenue: EXCESS SALES TAX COLLECTED

    total $34,470 · related or exempt $34,470

  • 11e · Other revenue, total

    $34,470

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,254,091 · program services $3,254,091

  • 5 · Compensation of officers, directors and key employees

    total $485,435 · program services $485,435

  • 6 · Compensation of disqualified persons

    total $260,635 · program services $260,635

  • 7 · Other salaries and wages

    total $8,585,904 · program services $8,585,904

  • 11g · Fees: other

    total $57,507,055 · program services $57,507,055

  • 22 · Depreciation, depletion and amortization

    total $10,180,881 · program services $10,180,881

  • 24a · Other expenses: COGS

    total $485 · program services $485

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,093,236 · end of year $9,346,953

  • 2 · Savings and temporary cash investments

    beginning of year $986,780 · end of year $7,447,017

  • 3 · Pledges and grants receivable

    beginning of year $731,383 · end of year $35,078

  • 4 · Accounts receivable

    beginning of year $6,816,722 · end of year $6,606,821

  • 8 · Inventories for sale or use

    beginning of year $3,869,750 · end of year $5,526,763

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,964,830 · end of year $1,758,233

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

    $321,003,772

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

    $75,264,496

  • 10c · Land, buildings and equipment, net

    beginning of year $257,611,808 · end of year $245,739,276

  • 12 · Investments: other securities

    beginning of year $183,000

  • 13 · Investments: program-related

    beginning of year $23,599,166 · end of year $23,254,054

  • 15 · Other assets

    end of year $21,402,996

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,361,363 · end of year $6,085,763

  • 18 · Grants payable

    beginning of year $2,131,464 · end of year $1,850,982

  • 19 · Deferred revenue

    beginning of year $12,372,362 · end of year $10,188,106

  • 23 · Secured mortgages and notes payable

    beginning of year $168,495,482 · end of year $179,803,298

  • 29 · Capital stock, trust principal or current funds

    beginning of year $117,899 · end of year $97,564

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

    beginning of year $24,571,478 · end of year $54,262,629

  • 31 · Retained earnings, endowment or other funds

    beginning of year $91,806,627 · end of year $68,828,849

Mission and programs · 2022

Mission

PROVIDE ELECTRIC POWER TO RURAL AREAS.

  • SALE OF ELECTRIC POWER TO MEMBERS. 37,922 SERVICES IN PLACE AT END OF YEAR.

  • SALE OF BROADBAND SERVICES TO MEMBERS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeremiah Sloan

    CEO

    Total calculated
    $346,759
    From this org
    $260,917
    From related orgs
    $0
    Other
    $85,842
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $260,917
    Bonus
    not reported
    Other
    not reported
    Deferred
    $82,113
    Nontaxable benefits
    $3,729
    Filer's total
    $346,759

  • Keith Blocker

    VP ENGINEERI

    Total calculated
    $267,972
    From this org
    $200,513
    From related orgs
    $0
    Other
    $67,459
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $200,513
    Bonus
    not reported
    Other
    not reported
    Deferred
    $64,341
    Nontaxable benefits
    $3,118
    Filer's total
    $267,972

  • Brian Duncan

    CEO

    Total calculated
    $260,634
    From this org
    $232,819
    From related orgs
    $0
    Other
    $27,815
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $232,819
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,701
    Nontaxable benefits
    $1,114
    Filer's total
    $260,634

  • Mark A Miller

    VP OF OPERAT

    Total calculated
    $219,041
    From this org
    $157,944
    From related orgs
    $0
    Other
    $61,097
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,944
    Bonus
    not reported
    Other
    not reported
    Deferred
    $58,460
    Nontaxable benefits
    $2,637
    Filer's total
    $219,041

  • Justin Etter

    VP OF CORP.

    Total calculated
    $197,476
    From this org
    $142,909
    From related orgs
    $0
    Other
    $54,567
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,909
    Bonus
    not reported
    Other
    not reported
    Deferred
    $52,239
    Nontaxable benefits
    $2,328
    Filer's total
    $197,476

  • Keith Mosbey

    DIRECTOR

    Total calculated
    $22,974
    From this org
    $22,974
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Terry Rorex

    DIRECTOR

    Total calculated
    $22,974
    From this org
    $22,974
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Steve Kueter

    DIRECTOR

    Total calculated
    $21,739
    From this org
    $21,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bill Elliot Jr

    DIRECTOR

    Total calculated
    $21,555
    From this org
    $21,555
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dwight England

    DIRECTOR

    Total calculated
    $20,275
    From this org
    $20,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Len Nall

    DIRECTOR

    Total calculated
    $14,843
    From this org
    $14,843
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bobby Wade

    DIRECTOR

    Total calculated
    $14,316
    From this org
    $14,316
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

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 · Independent compensation consultant

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.

  • 3EB BROADBAND SOLUTIONS LLC

    BROADBAND · AR

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202313189349304551

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