Totals
- Total revenue
- $15,412,717
- Total expenses
- $9,565,124
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $193,722
- Other revenue
- $15,218,995
- Total assets, end of year
- $102,701,876
- Total liabilities, end of year
- $14,228,477
- Net assets or fund balances, end of year
- $88,473,399
- 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.
-
3 · Investment income
total $193,722 · related or exempt $193,722
-
6b · Less rental expenses
real property $3,330
-
6c · Rental income or loss
real property -$3,330
-
6d · Net rental income or loss
total -$3,330 · related or exempt -$3,330
-
10a · Gross sales of inventory
$56,470,249
-
10b · Cost of goods sold
$43,344,805
-
10c · Net income from sales of inventory
total $13,125,444 · related or exempt $13,125,444
-
11a · Other revenue: RENT - ELECTRIC PROPERTIES
total $2,096,881 · related or exempt $2,096,881
-
11e · Other revenue, total
$2,096,881
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $545,633
-
7 · Other salaries and wages
total $1,594,512
-
8 · Pension plan contributions
total $1,253,778
-
10 · Payroll taxes
total $355,041
-
20 · Interest
total $5,432
-
22 · Depreciation, depletion and amortization
total $3,772,636
-
23 · Insurance
total $364,615
-
24a · Other expenses: CUSTOMER RECORDS & COLLEC
total $701,974
-
24b · Other expenses: MISC GEN EXPENSE
total $307,748
-
24c · Other expenses: OFFICE SUPPLIES & EXP
total $236,965
-
24d · Other expenses: CUSTOMER SERVICE & INFO
total $146,175
-
24e · All other expenses
total $280,615
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $437,359 · end of year $3,501,209
-
2 · Savings and temporary cash investments
beginning of year $5,156,407 · end of year $5,499,156
-
4 · Accounts receivable
beginning of year $6,316,759 · end of year $6,554,314
-
7 · Other notes and loans receivable
beginning of year $2,349
-
8 · Inventories for sale or use
beginning of year $2,232,395 · end of year $2,028,658
-
9 · Prepaid expenses and deferred charges
beginning of year $6,425,897 · end of year $7,185,670
-
10a · Land, buildings and equipment: cost or other basis
$125,311,100
-
10b · Land, buildings and equipment: accumulated depreciation
$47,378,231
-
10c · Land, buildings and equipment, net
beginning of year $76,325,581 · end of year $77,932,869
-
17 · Accounts payable and accrued expenses
beginning of year $8,466,082 · end of year $8,916,895
-
19 · Deferred revenue
beginning of year $579,019 · end of year $604,979
-
25 · Other liabilities
beginning of year $4,475,867 · end of year $4,706,603
-
29 · Capital stock, trust principal or current funds
beginning of year $951,120 · end of year $959,204
-
31 · Retained earnings, endowment or other funds
beginning of year $82,424,659 · end of year $87,514,195
Mission and programs · 2024
Mission
PROVISION OF ELECTRIC POWER TO RURAL CUSTOMERS.
-
PROVISION OF ELECTRICAL POWER TO 20,770 USERS AS OF JUNE 30, 2025
As filed on the 2024 return.
Listed in Part VII
-
Frankie MoormanFRANKIE MOORMAN
GENERAL MGR
- Total calculated
- $283,307
- From this org
- $193,636
- From related orgs
- $0
- Other
- $89,671
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $193,636
- Bonus
- not reported
- Other
- not reported
- Deferred
- $69,141
- Nontaxable benefits
- $20,530
- Filer's total
- $283,307
-
Jeanna SortoJEANNA SORTO
SECRETARY/AC
- Total calculated
- $232,372
- From this org
- $168,664
- From related orgs
- $0
- Other
- $63,708
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $168,664
- Bonus
- not reported
- Other
- not reported
- Deferred
- $54,958
- Nontaxable benefits
- $8,750
- Filer's total
- $232,372
-
James ElzieJAMES ELZIE
GENERAL FORE
- Total calculated
- $171,769
- From this org
- $111,207
- From related orgs
- $0
- Other
- $60,562
Schedule J breakdown matched by us
- Base
- $111,207
- Bonus
- not reported
- Other
- not reported
- Deferred
- $44,100
- Nontaxable benefits
- $16,462
- Filer's total
- $171,769
-
Benjamin HoganBENJAMIN HOGAN
BRUCE DISTRI
- Total calculated
- $147,062
- From this org
- $111,014
- From related orgs
- $0
- Other
- $36,048
-
Robert B MitchellROBERT B MITCHELL
ASSISTANT FO
- Total calculated
- $135,518
- From this org
- $103,937
- From related orgs
- $0
- Other
- $31,581
-
Walker C WestmorelandWALKER C WESTMORELAND
E JOURNEYMAN
- Total calculated
- $115,258
- From this org
- $100,243
- From related orgs
- $0
- Other
- $15,015
-
Robert TedfordROBERT TEDFORD
DIRECTOR
- Total calculated
- $14,925
- From this org
- $14,925
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Dean BrummettDEAN BRUMMETT
DIRECTOR
- Total calculated
- $14,908
- From this org
- $14,908
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Bobby DukeBOBBY DUKE
DIRECTOR
- Total calculated
- $14,472
- From this org
- $14,472
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Randy HeardRANDY HEARD
VICE PRESIDE
- Total calculated
- $14,438
- From this org
- $14,438
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Thomas E Johnson JrTHOMAS E JOHNSON JR
DIRECTOR
- Total calculated
- $14,438
- From this org
- $14,438
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Jim Riddle JrJIM RIDDLE JR
DIRECTOR
- Total calculated
- $14,420
- From this org
- $14,420
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Jeff WashingtonJEFF WASHINGTON
DIRECTOR
- Total calculated
- $14,420
- From this org
- $14,420
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Terry ChunnTERRY CHUNN
PRESIDENT
- Total calculated
- $14,368
- From this org
- $14,368
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
David HighDAVID HIGH
DIRECTOR
- Total calculated
- $14,316
- From this org
- $14,316
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
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 · 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
- 2024
- Filed
- 12 November 2025
- IRS schema version
- 2024v5.0
- Source object
- 202523179349304342
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