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Nonprofiteer
← DOUGLAS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by DOUGLAS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$24,661,438
Total expenses
$20,189,238
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$19,346,534
Investment income
$674,839
Other revenue
$4,640,065
Total assets, end of year
$82,552,403
Total liabilities, end of year
$32,335,809
Net assets or fund balances, end of year
$50,216,594
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: ELECTRIC REVENUE

    total $19,182,319 · related or exempt $19,182,319

  • 2b · Program service revenue: RENT FROM ELECTRIC PROPERTY

    total $164,215 · excluded $164,215

  • 3 · Investment income

    total $290,836 · excluded $290,836

  • 6a · Gross rents

    real property $16,010

  • 6b · Less rental expenses

    real property $4,387

  • 6c · Rental income or loss

    real property $11,623

  • 6d · Net rental income or loss

    total $11,623 · excluded $11,623

  • 7a · Gross sales of assets other than inventory

    other assets $385,000

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

    other assets $997

  • 7c · Gain or loss

    other assets $384,003

  • 7d · Net gain or loss

    total $384,003 · excluded $384,003

  • 11a · Other revenue: SUBSIDIARY INCOME

    total $4,472,200 · related or exempt $4,472,200

  • 11b · Other revenue: PATRONAGE CAPITAL CREDITS

    total $156,242 · related or exempt $156,242

  • 11e · Other revenue, total

    $4,628,442

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $893,955

  • 5 · Compensation of officers, directors and key employees

    total $544,724

  • 7 · Other salaries and wages

    total $2,240,813

  • 11b · Fees: legal

    total $19,490

  • 11c · Fees: accounting

    total $56,374

  • 20 · Interest

    total $1,071,418

  • 22 · Depreciation, depletion and amortization

    total $2,376,651

  • 24a · Other expenses: TAXES - UNRELATED BUSIN

    total $504

  • 24b · Other expenses: COST OF POWER

    total $6,300,739

  • 24c · Other expenses: TRANSMISSION AND DISTRI

    total $3,796,544

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $1,916,928

  • 24e · All other expenses

    total $971,098

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,192 · end of year $1,192

  • 2 · Savings and temporary cash investments

    beginning of year $1,113,440 · end of year $1,310,905

  • 4 · Accounts receivable

    beginning of year $6,931,075 · end of year $5,888,793

  • 8 · Inventories for sale or use

    beginning of year $581,741 · end of year $984,542

  • 9 · Prepaid expenses and deferred charges

    beginning of year $464,527 · end of year $577,957

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

    $83,496,606

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

    $34,562,145

  • 10c · Land, buildings and equipment, net

    beginning of year $47,596,285 · end of year $48,934,461

  • 12 · Investments: other securities

    beginning of year $2,362,438 · end of year $2,466,167

  • 13 · Investments: program-related

    beginning of year $17,916,186 · end of year $22,388,386

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,501,844 · end of year $1,427,187

  • 23 · Secured mortgages and notes payable

    beginning of year $26,669,747 · end of year $27,499,576

  • 25 · Other liabilities

    beginning of year $3,518,695 · end of year $3,409,046

  • 29 · Capital stock, trust principal or current funds

    beginning of year $42,175 · end of year $42,275

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

    beginning of year $11,005,449 · end of year $10,056,687

  • 31 · Retained earnings, endowment or other funds

    beginning of year $34,228,974 · end of year $40,117,632

Mission and programs · 2023

Mission

PROVIDE ELECTRIC SERVICE TO MEMBERS.

  • SALE OF ELECTRICAL SERVICES TO MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Armstrong Suzette

    TREASURER

    Total calculated
    $6,500
    From this org
    $6,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Barnes Evan

    DIRECTOR

    Total calculated
    $7,750
    From this org
    $7,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Cairns Shirley

    SECRETARY

    Total calculated
    $10,730
    From this org
    $10,730
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • House E David

    DIRECTOR

    Total calculated
    $5,500
    From this org
    $5,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jackson Bill

    VICE PRESIDENT

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Nelson Terry

    DIRECTOR

    Total calculated
    $3,500
    From this org
    $3,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Poage Robert

    PRESIDENT

    Total calculated
    $3,250
    From this org
    $3,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brooks Keith

    CEO

    Total calculated
    $307,658
    From this org
    $238,832
    From related orgs
    $0
    Other
    $68,826
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,832
    Bonus
    $0
    Other
    $0
    Deferred
    $39,600
    Nontaxable benefits
    $29,226
    Filer's total
    $307,658

  • Reinhart William

    CFO

    Total calculated
    $194,837
    From this org
    $147,463
    From related orgs
    $0
    Other
    $47,374
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,463
    Bonus
    $0
    Other
    $0
    Deferred
    $18,706
    Nontaxable benefits
    $28,668
    Filer's total
    $194,837

  • Way Todd

    DSI MANAGER

    Total calculated
    $318,097
    From this org
    $0
    From related orgs
    $264,863
    Other
    $53,234
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,863 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,218 related
    Nontaxable benefits
    $0 + $29,016 related
    Filer's total
    $0 + $318,097 related

  • Bigler Phillip

    COO

    Total calculated
    $210,767
    From this org
    $158,319
    From related orgs
    $0
    Other
    $52,448
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,319
    Bonus
    $0
    Other
    $0
    Deferred
    $24,491
    Nontaxable benefits
    $27,957
    Filer's total
    $210,767

  • Greaves Garrett

    LINEMAN

    Total calculated
    $199,757
    From this org
    $170,932
    From related orgs
    $0
    Other
    $28,825
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $170,932
    Bonus
    $0
    Other
    $0
    Deferred
    $8,408
    Nontaxable benefits
    $20,417
    Filer's total
    $199,757

  • Leyva Lorenzo

    LINEMAN

    Total calculated
    $202,434
    From this org
    $172,198
    From related orgs
    $0
    Other
    $30,236
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $172,198
    Bonus
    $0
    Other
    $0
    Deferred
    $9,559
    Nontaxable benefits
    $20,677
    Filer's total
    $202,434

  • McCall Cody

    LINEMAN

    Total calculated
    $205,823
    From this org
    $171,002
    From related orgs
    $0
    Other
    $34,821
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $171,002
    Bonus
    $0
    Other
    $0
    Deferred
    $14,259
    Nontaxable benefits
    $20,562
    Filer's total
    $205,823

  • Utley Donald

    GENERAL-FORMAN

    Total calculated
    $241,909
    From this org
    $182,297
    From related orgs
    $0
    Other
    $59,612
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $182,297
    Bonus
    $0
    Other
    $0
    Deferred
    $38,492
    Nontaxable benefits
    $21,120
    Filer's total
    $241,909

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 · Compensation survey or study
  • 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.

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.

  • DOUGLAS SERVICES INC

    C · VOICE & BROADBAND SERVICE · OR · 100% owned · share of income $4,472,200 · share of assets $55,842,164 · controlled entity

    Directly controlled by DOUGLAS ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
1 October 2024
IRS schema version
2023v5.1
Source object
202422769349300622

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