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Nonprofiteer
← APPALACHIAN ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by APPALACHIAN ELECTRIC COOPERATIVE.

Totals

Total revenue
$139,121,874
Total expenses
$133,767,449
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$129,163,628
Investment income
$660,057
Other revenue
$9,298,189
Total assets, end of year
$293,603,719
Total liabilities, end of year
$157,549,190
Net assets or fund balances, end of year
$136,054,529
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: SALE OF ELECTRICITY

    total $127,952,020 · related or exempt $127,952,020

  • 2b · Program service revenue: CUSTOMERS' FORFEITED DISCOUNT

    total $688,794 · related or exempt $688,794

  • 2c · Program service revenue: OTHER ELECTRIC REVENUE

    total $522,814 · related or exempt $522,814

  • 3 · Investment income

    total $660,057 · excluded $660,057

  • 11a · Other revenue: RENT FROM ELECTRIC PROPERTY

    total $8,537,520 · excluded $8,537,520

  • 11b · Other revenue: MISCELLANEOUS

    total $760,669 · excluded $760,669

  • 11e · Other revenue, total

    $9,298,189

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $684,312

  • 7 · Other salaries and wages

    total $10,070,554

  • 8 · Pension plan contributions

    total $2,062,697

  • 9 · Other employee benefits

    total $2,110,529

  • 10 · Payroll taxes

    total $817,274

  • 11a · Fees: management

    total $28,675

  • 11b · Fees: legal

    total $47,530

  • 11c · Fees: accounting

    total $59,485

  • 12 · Advertising and promotion

    total $162,930

  • 20 · Interest

    total $4,516,372

  • 22 · Depreciation, depletion and amortization

    total $11,419,251

  • 24a · Other expenses: PURCHASED POWER

    total $92,159,399

  • 24b · Other expenses: MAINTENANCE

    total $3,620,645

  • 24c · Other expenses: TRANSMISSION/DISTRIBUTION

    total $3,217,466

  • 24d · Other expenses: CUST ACCOUNTS/GEN AND ADM

    total $2,790,330

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,178,050 · end of year $3,893,043

  • 2 · Savings and temporary cash investments

    beginning of year $1,082,158 · end of year $1,082,158

  • 3 · Pledges and grants receivable

    beginning of year $404,385

  • 4 · Accounts receivable

    beginning of year $15,870,228 · end of year $17,940,763

  • 7 · Other notes and loans receivable

    beginning of year $1,917,874 · end of year $860,000

  • 8 · Inventories for sale or use

    beginning of year $5,047,361 · end of year $4,240,035

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

    $393,839,163

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

    $135,203,339

  • 10c · Land, buildings and equipment, net

    beginning of year $251,321,602 · end of year $258,635,824

  • 15 · Other assets

    beginning of year $7,753,801 · end of year $6,951,896

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,246,078 · end of year $14,866,030

  • 23 · Secured mortgages and notes payable

    beginning of year $127,844,483 · end of year $135,119,175

  • 25 · Other liabilities

    beginning of year $7,465,114 · end of year $7,563,985

  • 31 · Retained earnings, endowment or other funds

    beginning of year $131,019,784 · end of year $136,054,529

Mission and programs · 2024

Mission

DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS.

  • APPALACHIAN ELECTRIC COOPERATIVE WAS FORMED IN 1940 AS A MEMBER-OWNED COOPERATIVE AND IS HEADQUARTERED IN NEW MARKET, TENNESSEE. AEC EXISTS TODAY TO DISTRIBUTE QUALITY ELECTRICITY AT THE LOWEST POSSIBLE COST, PROMOTE AND FACILITATE ECONOMIC DEVELOPMENT, AND ENHANCE THE QUALITY OF LIFE FOR ITS MEMBERS. THE COOPERATIVE PURCHASES POWER FROM THE TENNESSEE VALLEY AUTHORITY AT WHOLESALE AND SUPPLIES POWER TO 52,018 MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Josh Compton

    GM AND EXECU

    Total calculated
    $364,446
    From this org
    $250,315
    From related orgs
    $0
    Other
    $114,131
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $250,315
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,800
    Nontaxable benefits
    $80,331
    Filer's total
    $364,446

  • Adam Newcomb

    DIRECTOR ENG

    Total calculated
    $220,070
    From this org
    $155,123
    From related orgs
    $0
    Other
    $64,947
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,123
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $64,947
    Filer's total
    $220,070

  • Blake McNew

    VP OF OPERAT

    Total calculated
    $213,010
    From this org
    $145,080
    From related orgs
    $0
    Other
    $67,930
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,080
    Bonus
    not reported
    Other
    not reported
    Deferred
    $1,472
    Nontaxable benefits
    $66,458
    Filer's total
    $213,010

  • Dexter Lowe

    LINEMAN

    Total calculated
    $211,789
    From this org
    $155,590
    From related orgs
    $0
    Other
    $56,199
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,590
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,080
    Nontaxable benefits
    $51,119
    Filer's total
    $211,789

  • James Chambers

    OPERATING SU

    Total calculated
    $208,383
    From this org
    $150,133
    From related orgs
    $0
    Other
    $58,250
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,133
    Bonus
    not reported
    Other
    not reported
    Deferred
    $1,120
    Nontaxable benefits
    $57,130
    Filer's total
    $208,383

  • Travis Collins

    LINEMAN

    Total calculated
    $185,240
    From this org
    $141,100
    From related orgs
    $0
    Other
    $44,140
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,100
    Bonus
    not reported
    Other
    not reported
    Deferred
    $2,774
    Nontaxable benefits
    $41,366
    Filer's total
    $185,240

  • Conard Frye

    VP/ADMIN TO

    Total calculated
    $172,899
    From this org
    $167,444
    From related orgs
    $0
    Other
    $5,455
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $167,444
    Bonus
    not reported
    Other
    not reported
    Deferred
    $879
    Nontaxable benefits
    $4,576
    Filer's total
    $172,899

  • Kimberly Sandlin

    CFO

    Total calculated
    $158,425
    From this org
    $126,054
    From related orgs
    $0
    Other
    $32,371
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $126,054
    Bonus
    not reported
    Other
    not reported
    Deferred
    $2,107
    Nontaxable benefits
    $30,264
    Filer's total
    $158,425

  • Garry Jett

    PRESIDENT

    Total calculated
    $18,896
    From this org
    $18,896
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • John Austin

    SECRETARY/TR

    Total calculated
    $16,866
    From this org
    $16,866
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Mike Norton

    DIRECTOR

    Total calculated
    $16,474
    From this org
    $16,474
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Mike Hicks

    DIRECTOR

    Total calculated
    $15,776
    From this org
    $15,776
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Sue McBee

    DIRECTOR

    Total calculated
    $15,156
    From this org
    $15,156
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Mark Isom

    VICE-PRESIDE

    Total calculated
    $14,517
    From this org
    $14,517
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Buddy Lee

    DIRECTOR

    Total calculated
    $14,345
    From this org
    $14,345
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Tim Collins

    DIRECTOR

    Total calculated
    $14,294
    From this org
    $14,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Randy Baxley

    DIRECTOR

    Total calculated
    $13,958
    From this org
    $13,958
    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

None.

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.

Disregarded entities

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

  • APPALACHIAN UTILITY SERVICES LLC

    SOLOR POWE · TN · assets $1,612,569

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.0
Source object
202523179349308402

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