Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $0

• 1f · All other contributions, gifts and grants

  $0

• 1g · Noncash contributions included above

  $0

• 2a · Program service revenue: Network Services Revenue

  total $408,858,396 · related or exempt $408,858,396 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Transmission Rental Income

  total $45,051,303 · related or exempt $45,051,303 · unrelated business $0 · excluded $0

• 2c · Program service revenue: Other Revenues

  total $6,584,508 · related or exempt $6,584,508 · unrelated business $0 · excluded $0

• 2d · Program service revenue: Refund to Members

  total -$13,000,000 · related or exempt -$13,000,000 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $8,846,996 · related or exempt $8,846,996 · unrelated business $0 · excluded $0

• 4 · Income from investment of tax-exempt bond proceeds

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 5 · Royalties

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6a · Gross rents

  real property $0 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 8a · Fundraising events: contributions included on line 1c

  $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $40,072,436

• 5 · Compensation of officers, directors and key employees

  total $7,345,585

• 7 · Other salaries and wages

  total $27,418,370

• 8 · Pension plan contributions

  total $0

• 9 · Other employee benefits

  total $9,917,712

• 10 · Payroll taxes

  total $2,218,525

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $723,789

• 11c · Fees: accounting

  total $0

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $37,591,640

• 12 · Advertising and promotion

  total $88,201

• 13 · Office expenses

  total $6,461,874

• 14 · Information technology

  total $0

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $0

• 17 · Travel

  total $1,338,782

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $344,597

• 20 · Interest

  total $109,199,723

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $98,749,338

• 23 · Insurance

  total $2,179,346

• 24a · Other expenses: GSOC Ops/SS Charges

  total $34,755,040

• 24b · Other expenses: Property/Other Taxes

  total $28,057,800

• 24c · Other expenses: Parity Expense

  total $25,574,040

• 24d · Other expenses: Control Center/Trans Reserve

  total $21,763,162

• 24e · All other expenses

  total $2,541,243

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $111,779,638 · end of year $86,989,005

• 4 · Accounts receivable

  beginning of year $50,208,702 · end of year $90,952,223

• 8 · Inventories for sale or use

  beginning of year $46,719,998 · end of year $52,302,380

• 9 · Prepaid expenses and deferred charges

  beginning of year $55,343,972 · end of year $54,868,840

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

  $5,177,497,670

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

  $1,589,526,513

• 10c · Land, buildings and equipment, net

  beginning of year $2,978,698,851 · end of year $3,587,971,157

• 13 · Investments: program-related

  beginning of year $24,318,822 · end of year $23,534,083

• 17 · Accounts payable and accrued expenses

  beginning of year $458,260,980 · end of year $534,909,956

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $94,465,000 · end of year $94,465,000

• 23 · Secured mortgages and notes payable

  beginning of year $2,287,970,679 · end of year $2,799,831,101

• 25 · Other liabilities

  beginning of year $16,375,820 · end of year $17,341,691

• 27 · Net assets without donor restrictions

  beginning of year $409,997,504 · end of year $450,069,940

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

All Georgia Transmission Corporation Officers and qualifying associates are eligible to receive a car allowance. The amounts range from $6,000 to $12,000. Amounts received are not grossed up for income tax purposes and the respective amount is reflected as gross wages, box 1, Form W-2 for each respective individual receiving an allowance. Car allowances are reviewed annually. Concerning the actual car allowance, no documentation is required to be presented to receive the allowance. Mileage reimbursement is, however, required to be substantiated before receipt of funds.

Schedule J, Part I, Line 3

Georgia Transmission Corporation has a compensation committee that is a subset of the Board of Directors. Georgia Transmission Corporation's CEO's salary is market-reviewed annually and submitted by Human Resources to the committee for approval. The committee would then present the salary increase recommendation to the Board of Directors for approval.

Schedule J, Part I, Line 4

Non-Qualified plan participants include: Dustin Zubke $8,430, John Raese $1,270, Angela Sheffield $6,551, and Angie Farsee $5,954.