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Nonprofiteer
← C & L ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2023

Filed by C & L ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$48,131,307
Total expenses
$44,277,379
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$46,821,704
Investment income
$1,296,402
Other revenue
$13,201
Total assets, end of year
$168,288,825
Total liabilities, end of year
$107,678,620
Net assets or fund balances, end of year
$60,610,205
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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: Operating Revenue

    total $46,048,077 · related or exempt $46,048,077 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Capital Credits

    total $773,627 · related or exempt $773,627 · 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 $1,296,402 · related or exempt $0 · unrelated business $0 · excluded $1,296,402

  • 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 $13,201

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $13,201

  • 6d · Net rental income or loss

    total $13,201 · related or exempt $0 · unrelated business $0 · excluded $13,201

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 10a · Gross sales of inventory

    $130

  • 10b · Cost of goods sold

    $130

  • 10c · Net income from sales of inventory

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $888,904

  • 7 · Other salaries and wages

    total $7,336,180

  • 8 · Pension plan contributions

    total $1,819,505

  • 9 · Other employee benefits

    total $2,254,988

  • 10 · Payroll taxes

    total $633,652

  • 11b · Fees: legal

    total $25,679

  • 11c · Fees: accounting

    total $30,950

  • 13 · Office expenses

    total $335,096

  • 19 · Conferences, conventions and meetings

    total $19,214

  • 20 · Interest

    total $3,210,113

  • 22 · Depreciation, depletion and amortization

    total $5,314,931

  • 23 · Insurance

    total $249,934

  • 24a · Other expenses: Cost of Power

    total $21,525,978

  • 24b · Other expenses: Admin & General

    total $544,620

  • 24e · All other expenses

    total $87,635

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $635,277 · end of year $579,327

  • 2 · Savings and temporary cash investments

    beginning of year $5,034,831 · end of year $21,006,325

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $4,600,696 · end of year $4,401,194

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $2,537,460 · end of year $2,469,550

  • 9 · Prepaid expenses and deferred charges

    beginning of year $150,977 · end of year $228,771

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

    $191,975,964

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

    $68,831,522

  • 10c · Land, buildings and equipment, net

    beginning of year $113,122,547 · end of year $123,144,442

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $16,118,581 · end of year $16,088,466

  • 15 · Other assets

    beginning of year $729,129 · end of year $370,750

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,051,834 · end of year $8,236,501

  • 23 · Secured mortgages and notes payable

    beginning of year $76,111,142 · end of year $99,430,679

  • 25 · Other liabilities

    beginning of year $11,440 · end of year $11,440

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $373,265 · end of year $376,596

  • 31 · Retained earnings, endowment or other funds

    beginning of year $56,381,817 · end of year $60,233,609

Mission and programs · 2023

Mission

Sales of electricity to rural members of the Cooperative and maintain the distribution lines in the service area

Activities or mission (Part I)

Sales of electricity to rural members of the Cooperative and maintain the distribution power lines in the service area

  • Purchase, distribution and sale of electricity to rural members, members served - 14,981; no. of services - 22,499

As filed on the 2023 return.

Listed in Part VII

  • David Vondran

    General Manager

    Total calculated
    $211,968
    From this org
    $183,294
    From related orgs
    $0
    Other
    $28,674
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,294
    Bonus
    $0
    Other
    $0
    Deferred
    $4,118
    Nontaxable benefits
    $24,556
    Filer's total
    $211,968

  • Shawn Harvey

    Serviceman

    Total calculated
    $210,696
    From this org
    $163,432
    From related orgs
    $0
    Other
    $47,264
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,432
    Bonus
    $0
    Other
    $0
    Deferred
    $24,061
    Nontaxable benefits
    $23,204
    Filer's total
    $210,697

  • James McGee

    Construction Supervisor

    Total calculated
    $194,677
    From this org
    $138,273
    From related orgs
    $0
    Other
    $56,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,273
    Bonus
    $0
    Other
    $0
    Deferred
    $32,601
    Nontaxable benefits
    $23,803
    Filer's total
    $194,677

  • Brian Lowery

    Manager of Office Services

    Total calculated
    $194,275
    From this org
    $134,311
    From related orgs
    $0
    Other
    $59,964
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,311
    Bonus
    $0
    Other
    $0
    Deferred
    $35,932
    Nontaxable benefits
    $24,032
    Filer's total
    $194,275

  • John Gatlin

    Serviceman

    Total calculated
    $185,622
    From this org
    $137,110
    From related orgs
    $0
    Other
    $48,512
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,110
    Bonus
    $0
    Other
    $0
    Deferred
    $25,227
    Nontaxable benefits
    $23,284
    Filer's total
    $185,621

  • Steven Greenwood

    Serviceman

    Total calculated
    $182,561
    From this org
    $132,484
    From related orgs
    $0
    Other
    $50,077
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,484
    Bonus
    $0
    Other
    $0
    Deferred
    $26,691
    Nontaxable benefits
    $23,386
    Filer's total
    $182,561

  • Keith D Griffin

    Director

    Total calculated
    $42,195
    From this org
    $42,195
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.53

  • John E Ashcraft

    Secretary

    Total calculated
    $39,991
    From this org
    $39,991
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.52

  • William M Humphrey

    Director

    Total calculated
    $39,463
    From this org
    $39,463
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.14

  • Tony Cathey

    Director

    Total calculated
    $39,413
    From this org
    $39,413
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.09

  • Frank Wilson

    Director

    Total calculated
    $39,413
    From this org
    $39,413
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.61

  • Lawrence E Hudson

    Director

    Total calculated
    $38,363
    From this org
    $38,363
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.51

  • Philip C Wilson

    Director

    Total calculated
    $36,013
    From this org
    $36,013
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Robert W Floyd

    Director

    Total calculated
    $33,763
    From this org
    $33,763
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.85

  • Charles S Searcy

    Chairman

    Total calculated
    $33,263
    From this org
    $33,263
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.42

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.

Provenance

Return type
form_990
Tax year
2023
Filed
27 August 2024
IRS schema version
2023v5.0
Source object
202412539349300416

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