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Nonprofiteer
← COLQUITT ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by COLQUITT ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$161,729,916
Total expenses
$161,673,086
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$161,634,077
Investment income
$75,437
Other revenue
$20,402
Total assets, end of year
$352,432,205
Total liabilities, end of year
$205,319,379
Net assets or fund balances, end of year
$147,112,826
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: ELECTRICITY SALES

    total $157,609,202 · related or exempt $157,609,202

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $2,037,795 · related or exempt $2,037,795

  • 2c · Program service revenue: POLE RENTAL

    total $1,505,502 · excluded $1,505,502

  • 2d · Program service revenue: PATRONAGE CAP-ASSOC ORG

    total $481,578 · related or exempt $481,578

  • 3 · Investment income

    total $75,437 · excluded $75,437

  • 11a · Other revenue: GAIN/DISP OF PROPERTY

    total $20,402 · related or exempt $20,402

  • 11e · Other revenue, total

    $20,402

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $11,972,560

  • 5 · Compensation of officers, directors and key employees

    total $923,814

  • 13 · Office expenses

    total $1,155,078

  • 20 · Interest

    total $5,546,434

  • 22 · Depreciation, depletion and amortization

    total $12,042,285

  • 24a · Other expenses: PURCHASED POWER

    total $94,034,936

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $15,746,600

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $9,025,301

  • 24d · Other expenses: ADMINISTRATIVE & GENERAL

    total $5,350,323

  • 24e · All other expenses

    total $5,875,755

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,696,674 · end of year $11,520,389

  • 4 · Accounts receivable

    beginning of year $18,576,226 · end of year $16,395,785

  • 8 · Inventories for sale or use

    beginning of year $6,673,817 · end of year $7,920,931

  • 9 · Prepaid expenses and deferred charges

    beginning of year $558,154 · end of year $652,013

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

    $383,254,779

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

    $132,448,055

  • 10c · Land, buildings and equipment, net

    beginning of year $242,046,172 · end of year $250,806,724

  • 13 · Investments: program-related

    beginning of year $50,740,622 · end of year $53,147,554

  • 15 · Other assets

    beginning of year $19,177,394 · end of year $11,988,809

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,861,011 · end of year $36,361,072

  • 23 · Secured mortgages and notes payable

    beginning of year $141,402,458 · end of year $144,682,579

  • 25 · Other liabilities

    beginning of year $24,666,302 · end of year $24,275,728

  • 29 · Capital stock, trust principal or current funds

    beginning of year $294,245 · end of year $297,320

  • 31 · Retained earnings, endowment or other funds

    beginning of year $155,245,043 · end of year $146,815,506

Mission and programs · 2023

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

Activities or mission (Part I)

COLQUITT ELECTRIC MEMBERSHIP CORPORATION SELLS ELECTRICITY AND PROVIDES SERVICES TO MEMBER-OWNERS AS A RURAL ELECTRIC COOPERATIVE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Daniel Nichols

    PRESIDENT/CE

    Total calculated
    $612,867
    From this org
    $497,001
    From related orgs
    $0
    Other
    $115,866
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $478,133
    Bonus
    $1,500
    Other
    $17,368
    Deferred
    $77,250
    Nontaxable benefits
    $38,616
    Filer's total
    $612,867

  • Douglas Loftis

    COO

    Total calculated
    $388,642
    From this org
    $292,891
    From related orgs
    $0
    Other
    $95,751
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,840
    Bonus
    $1,500
    Other
    $4,551
    Deferred
    $67,143
    Nontaxable benefits
    $28,608
    Filer's total
    $388,642

  • Charles Tucker

    VP OF ENGINE

    Total calculated
    $332,025
    From this org
    $254,257
    From related orgs
    $0
    Other
    $77,768
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,171
    Bonus
    $1,500
    Other
    $8,586
    Deferred
    $45,798
    Nontaxable benefits
    $31,970
    Filer's total
    $332,025

  • Andy Croft

    VP OF OPERAT

    Total calculated
    $284,655
    From this org
    $197,671
    From related orgs
    $0
    Other
    $86,984
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,914
    Bonus
    $1,500
    Other
    $1,257
    Deferred
    $54,010
    Nontaxable benefits
    $32,974
    Filer's total
    $284,655

  • Brenda Aldridge

    CFO

    Total calculated
    $272,537
    From this org
    $200,798
    From related orgs
    $0
    Other
    $71,739
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,437
    Bonus
    $1,500
    Other
    $861
    Deferred
    $40,111
    Nontaxable benefits
    $31,628
    Filer's total
    $272,537

  • Jeffery Patterson

    VP INFORMATI

    Total calculated
    $253,673
    From this org
    $195,966
    From related orgs
    $0
    Other
    $57,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,986
    Bonus
    $1,500
    Other
    $480
    Deferred
    $29,021
    Nontaxable benefits
    $28,686
    Filer's total
    $253,673

  • Gary A Branch

    SECRETARY/TR

    Total calculated
    $35,064
    From this org
    $35,064
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • B Don Copeland

    DIRECTOR

    Total calculated
    $35,064
    From this org
    $35,064
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bobby E Exum

    DIRECTOR

    Total calculated
    $35,064
    From this org
    $35,064
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Huey Hiers

    DIRECTOR

    Total calculated
    $35,064
    From this org
    $35,064
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Simmie King

    DIRECTOR

    Total calculated
    $35,064
    From this org
    $35,064
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Patti Price Niewoehner

    CHAIRMAN

    Total calculated
    $34,764
    From this org
    $34,764
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Clay Underwood

    VICE CHAIRMA

    Total calculated
    $34,421
    From this org
    $34,421
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ben Griner

    DIRECTOR

    Total calculated
    $33,657
    From this org
    $33,657
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Thomas G Cothron III

    DIRECTOR

    Total calculated
    $32,785
    From this org
    $32,785
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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 · Form 990 of other organizations
  • 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
2023
Filed
27 February 2024
IRS schema version
2023v5.0
Source object
202440899349300709

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