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Nonprofiteer
← OZARK ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by OZARK ELECTRIC COOPERATIVE.

Totals

Total revenue
$76,057,964
Total expenses
$76,057,964
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$69,868,565
Investment income
$245,917
Other revenue
$5,943,482
Total assets, end of year
$216,370,576
Total liabilities, end of year
$112,987,084
Net assets or fund balances, end of year
$103,383,492
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$76,057,963

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 Billings

    total $69,195,339 · related or exempt $69,195,339

  • 2b · Program service revenue: PenaltyService Revenue

    total $641,489 · related or exempt $641,489

  • 2c · Program service revenue: Other Electric Revenue

    total $31,737 · related or exempt $31,737

  • 3 · Investment income

    total $233,185 · related or exempt $233,185

  • 6a · Gross rents

    personal property $390,018

  • 6c · Rental income or loss

    personal property $390,018

  • 6d · Net rental income or loss

    total $390,018 · excluded $390,018

  • 7a · Gross sales of assets other than inventory

    other assets $54,619

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

    other assets $41,887

  • 7c · Gain or loss

    other assets $12,732

  • 7d · Net gain or loss

    total $12,732 · related or exempt $12,732

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $19,441

  • 10b · Cost of goods sold

    $17,904

  • 10c · Net income from sales of inventory

    total $1,537 · related or exempt $1,537

  • 11a · Other revenue: Pat Cap Power Supplier

    total $2,600,761 · related or exempt $2,600,761

  • 11b · Other revenue: Pat Cap Other

    total $612,179 · related or exempt $612,179

  • 11c · Other revenue: Investment Tax Credits

    total $2,338,987 · related or exempt $2,338,987

  • 11e · Other revenue, total

    $5,551,927

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $10,631,269

  • 5 · Compensation of officers, directors and key employees

    total $827,011

  • 20 · Interest

    total $4,159,730

  • 22 · Depreciation, depletion and amortization

    total $5,811,175

  • 24a · Other expenses: Cost of Purchased Power

    total $36,153,343

  • 24b · Other expenses: Distrib. Exp (Oper/Maint)

    total $13,357,612

  • 24c · Other expenses: Consumer Accts & Sales

    total $2,473,479

  • 24d · Other expenses: Admin/General

    total $2,342,601

  • 24e · All other expenses

    total $301,744

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,939,562 · end of year $2,125,447

  • 2 · Savings and temporary cash investments

    beginning of year $3,021,900 · end of year $7,443,658

  • 4 · Accounts receivable

    beginning of year $2,226,023 · end of year $3,445,319

  • 8 · Inventories for sale or use

    beginning of year $2,915,088 · end of year $3,162,330

  • 9 · Prepaid expenses and deferred charges

    beginning of year $333,642 · end of year $402,317

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

    $211,604,746

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

    $56,510,782

  • 10c · Land, buildings and equipment, net

    beginning of year $151,459,466 · end of year $155,093,964

  • 13 · Investments: program-related

    beginning of year $36,400,329 · end of year $38,927,027

  • 15 · Other assets

    beginning of year $6,696,400 · end of year $5,770,514

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,058,328 · end of year $9,348,878

  • 23 · Secured mortgages and notes payable

    beginning of year $98,231,577 · end of year $102,220,177

  • 25 · Other liabilities

    beginning of year $1,464,619 · end of year $1,418,029

  • 31 · Retained earnings, endowment or other funds

    beginning of year $95,237,886 · end of year $103,383,492

Mission and programs · 2023

Mission

To provide distribution of reliable electricity to members at the lowest possible cost.

Activities or mission (Part I)

The most significant activity of the organization is the distribution of electricity to members at an affordable rate

  • Ozark Electric purchased electric energy (574,966,531 kWh) and distributed it to 35,099 accounts across 4,914 miles of line, which includes nine counties in Southwest Missouri. The cooperative operates and maintains meters, a mapping system, overhead and underground electric lines, transformers, and security lights (among other equipment) across the entire system.

    Expenses $76,057,963

As filed on the 2023 return.

Listed in Part VII

  • Patrick Oehlschlager

    General Manager

    Total calculated
    $474,934
    From this org
    $265,419
    From related orgs
    $0
    Other
    $209,515
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $265,419
    Bonus
    not reported
    Other
    not reported
    Deferred
    $209,515
    Nontaxable benefits
    $64,373
    Filer's total
    $539,307

  • Kenneth Raming

    Manager Engineering

    Total calculated
    $249,982
    From this org
    $177,886
    From related orgs
    $0
    Other
    $72,096
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $177,886
    Bonus
    not reported
    Other
    not reported
    Deferred
    $72,096
    Nontaxable benefits
    $46,170
    Filer's total
    $296,152

  • Wendall Bolin

    Director

    Total calculated
    $18,300
    From this org
    $18,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

    Schedule J breakdown matched by us

    Base
    $18,300
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $18,300

  • Od Cope

    Director

    Total calculated
    $14,600
    From this org
    $14,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $14,600
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $14,600

  • Ron Crighton

    Director

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $8,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $8,000

  • Larry Moennig

    Director ending 72023

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

    Schedule J breakdown matched by us

    Base
    $3,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $3,000

  • Byron Stine

    Director

    Total calculated
    $15,800
    From this org
    $15,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

    Schedule J breakdown matched by us

    Base
    $15,800
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $15,800

  • Steve Stone

    Director

    Total calculated
    $15,800
    From this org
    $15,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $15,800
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $15,800

  • David Trogdon

    Director

    Total calculated
    $14,600
    From this org
    $14,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $14,600
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $14,600

  • Michael Smotherman

    Director

    Total calculated
    $14,600
    From this org
    $14,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    $14,600
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $14,600

  • Steve Swearingen

    Manager Operations

    Total calculated
    $216,979
    From this org
    $150,689
    From related orgs
    $0
    Other
    $66,290
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,689
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,290
    Nontaxable benefits
    $39,475
    Filer's total
    $256,454

  • Tori Morris

    CFO

    Total calculated
    $125,840
    From this org
    $117,812
    From related orgs
    $0
    Other
    $8,028
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $117,812
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,028
    Nontaxable benefits
    $29,764
    Filer's total
    $155,604

  • Tobey Bennett

    Line Superintendent

    Total calculated
    $523,423
    From this org
    $130,602
    From related orgs
    $0
    Other
    $392,821
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $130,602
    Bonus
    not reported
    Other
    not reported
    Deferred
    $392,821
    Nontaxable benefits
    $34,780
    Filer's total
    $558,203

  • Jeffrey Smith

    Lead Lineman

    Total calculated
    $185,159
    From this org
    $128,830
    From related orgs
    $0
    Other
    $56,329
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $128,830
    Bonus
    not reported
    Other
    not reported
    Deferred
    $56,329
    Nontaxable benefits
    $34,557
    Filer's total
    $219,716

  • Daren Bowles

    Director

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $20,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $20,000

  • Ryan Post

    Director begin 72023

    Total calculated
    $7,400
    From this org
    $7,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

    Schedule J breakdown matched by us

    Base
    $7,400
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $7,400

  • Vincent Robison

    Construction Foreman

    Total calculated
    $166,926
    From this org
    $130,706
    From related orgs
    $0
    Other
    $36,220
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $130,706
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,220
    Nontaxable benefits
    $35,438
    Filer's total
    $202,364

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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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
8 July 2024
IRS schema version
2023v5.1
Source object
202421909349301457

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