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Nonprofiteer
← ASHLEY-CHICOT ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by ASHLEY-CHICOT ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$14,909,855
Total expenses
$14,909,855
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,043,770
Investment income
$73,753
Other revenue
$792,332
Total assets, end of year
$50,332,696
Total liabilities, end of year
$27,278,514
Net assets or fund balances, end of year
$23,054,182
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 $13,085,121 · related or exempt $13,085,121

  • 2b · Program service revenue: GENERATION & TRANSMISSION CAPITAL

    total $426,302 · related or exempt $426,302

  • 2c · Program service revenue: MISC ELECTRIC REVENUE

    total $324,414 · related or exempt $324,414

  • 2d · Program service revenue: PATRONAGE CAPITAL CREDIT

    total $207,933 · related or exempt $207,933

  • 3 · Investment income

    total $62,153 · excluded $62,153

  • 6a · Gross rents

    real property $23,279

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $23,279

  • 6d · Net rental income or loss

    total $23,279 · excluded $23,279

  • 7a · Gross sales of assets other than inventory

    other assets $11,600

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

    other assets $0

  • 7c · Gain or loss

    other assets $11,600

  • 7d · Net gain or loss

    total $11,600 · excluded $11,600

  • 11a · Other revenue: INTERNET REVENUE

    total $490,828 · unrelated business $490,828

  • 11b · Other revenue: OTHER INCOME

    total $278,225 · related or exempt $278,225

  • 11e · Other revenue, total

    $769,053

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,615,513

  • 5 · Compensation of officers, directors and key employees

    total $172,897

  • 8 · Pension plan contributions

    total $120,427

  • 9 · Other employee benefits

    total $118,538

  • 11b · Fees: legal

    total $65,074

  • 11c · Fees: accounting

    total $34,746

  • 13 · Office expenses

    total $19,296

  • 19 · Conferences, conventions and meetings

    total $8,021

  • 20 · Interest

    total $976,477

  • 22 · Depreciation, depletion and amortization

    total $1,581,080

  • 24a · Other expenses: COST OF POWER PURCHASED

    total $5,569,176

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $1,377,960

  • 24c · Other expenses: CONSUMER SERVICES

    total $645,303

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $539,090

  • 24e · All other expenses

    total $1,066,257

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $403,155 · end of year $605,665

  • 2 · Savings and temporary cash investments

    beginning of year $1,066,728 · end of year $1,894,345

  • 4 · Accounts receivable

    beginning of year $1,240,361 · end of year $1,025,044

  • 8 · Inventories for sale or use

    beginning of year $526,057 · end of year $503,493

  • 9 · Prepaid expenses and deferred charges

    beginning of year $41,540 · end of year $47,252

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

    $61,560,590

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

    $20,406,801

  • 10c · Land, buildings and equipment, net

    beginning of year $38,232,617 · end of year $41,153,789

  • 13 · Investments: program-related

    beginning of year $4,358,130 · end of year $4,720,114

  • 15 · Other assets

    beginning of year $360,828 · end of year $382,994

  • 17 · Accounts payable and accrued expenses

    beginning of year $954,293 · end of year $966,300

  • 19 · Deferred revenue

    beginning of year $356,857 · end of year $393,480

  • 23 · Secured mortgages and notes payable

    beginning of year $24,136,342 · end of year $25,491,119

  • 25 · Other liabilities

    beginning of year $34,436 · end of year $427,615

  • 29 · Capital stock, trust principal or current funds

    beginning of year $40,485 · end of year $40,630

  • 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 $20,707,003 · end of year $23,013,552

Mission and programs · 2024

Mission

SALE OF ELECTRICITY TO RURAL MEMBERS

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 5,117 RURAL MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Richard Stock

    DIRECTOR

    Total calculated
    $2,422
    From this org
    $2,186
    From related orgs
    $0
    Other
    $236
    Hours/week
    2

  • Justin Green

    DIRECTOR

    Total calculated
    $4,642
    From this org
    $4,406
    From related orgs
    $0
    Other
    $236
    Hours/week
    3

  • Andrew Hartshorn

    DIRECTOR

    Total calculated
    $15,295
    From this org
    $15,059
    From related orgs
    $0
    Other
    $236
    Hours/week
    3

  • Mike Huggins

    DIRECTOR

    Total calculated
    $2,402
    From this org
    $2,166
    From related orgs
    $0
    Other
    $236
    Hours/week
    2

  • Emory Austin

    PRESIDENT

    Total calculated
    $3,298
    From this org
    $3,062
    From related orgs
    $0
    Other
    $236
    Hours/week
    8

  • Martha Pennington

    SECRETARY

    Total calculated
    $12,508
    From this org
    $12,272
    From related orgs
    $0
    Other
    $236
    Hours/week
    5

  • Mark Pieroni

    VICE PRESIDENT

    Total calculated
    $5,183
    From this org
    $4,947
    From related orgs
    $0
    Other
    $236
    Hours/week
    2

  • Rodney Chapman

    GENERAL MANAGER

    Total calculated
    $152,698
    From this org
    $128,800
    From related orgs
    $0
    Other
    $23,898
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,800
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $23,898
    Filer's total
    $152,698

  • Thomas Wells

    OPERATIONS MANAGER

    Total calculated
    $139,090
    From this org
    $115,679
    From related orgs
    $0
    Other
    $23,411
    Hours/week
    40

  • Frank Dodson

    CONSTRUCTION FORMAN

    Total calculated
    $132,037
    From this org
    $108,813
    From related orgs
    $0
    Other
    $23,224
    Hours/week
    40

  • Marcus Collins

    LEAD SERVICE MAN

    Total calculated
    $135,049
    From this org
    $111,843
    From related orgs
    $0
    Other
    $23,206
    Hours/week
    40

  • Frank Davis

    CONSTRUCTION FORMAN

    Total calculated
    $123,276
    From this org
    $100,132
    From related orgs
    $0
    Other
    $23,144
    Hours/week
    40

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
DIRECTORS AND DIRECTOR SPOUSES ATTEND SUMMER AND WINTER CONFERENCES. DIRECTORS ARE REIMBURSED PER DIEM, MEALS AND MILEAGE.

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.

Disregarded entities

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

  • FUSE RURAL CONNECT LLC

    INTERNET PROVIDER · AR · income $490,828 · assets $57,240

    Directly controlled by ASHLEY-CHICOT ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202523179349303087

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