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Nonprofiteer
← CORDOVA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by CORDOVA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$8,749,284
Total expenses
$8,749,284
Contributions and grants received
$0
Grants paid
$11,122
Program service revenue
$8,393,937
Investment income
$337,324
Other revenue
$18,023
Total assets, end of year
$38,667,585
Total liabilities, end of year
$19,310,872
Net assets or fund balances, end of year
$19,356,713
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 ENERGY REV.

    total $8,140,179 · related or exempt $8,140,179

  • 2b · Program service revenue: PATRONAGE

    total $253,758 · related or exempt $253,758

  • 3 · Investment income

    total $75,794 · excluded $75,794

  • 6a · Gross rents

    real property $60,236

  • 6b · Less rental expenses

    real property $42,213

  • 6c · Rental income or loss

    real property $18,023

  • 6d · Net rental income or loss

    total $18,023 · excluded $18,023

  • 7a · Gross sales of assets other than inventory

    other assets $275,000

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

    other assets $13,470

  • 7c · Gain or loss

    other assets $261,530

  • 7d · Net gain or loss

    total $261,530 · excluded $261,530

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,122

  • 4 · Benefits paid to or for members

    total $624,266

  • 5 · Compensation of officers, directors and key employees

    total $734,359

  • 11b · Fees: legal

    total $16,731

  • 11c · Fees: accounting

    total $37,940

  • 11g · Fees: other

    total $23,207

  • 12 · Advertising and promotion

    total $202

  • 13 · Office expenses

    total $214,494

  • 19 · Conferences, conventions and meetings

    total $119,626

  • 20 · Interest

    total $689,216

  • 22 · Depreciation, depletion and amortization

    total $1,273,801

  • 23 · Insurance

    total $406,680

  • 24a · Other expenses: POWER PROD. & FUEL

    total $3,361,339

  • 24b · Other expenses: DISTRIBUTION

    total $827,900

  • 24c · Other expenses: CONSUMER ACCOUNTS

    total $282,613

  • 24d · Other expenses: ADMIN AND GENERAL

    total $69,543

  • 24e · All other expenses

    total $56,245

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $88,579 · end of year $82,404

  • 2 · Savings and temporary cash investments

    beginning of year $1,000,786 · end of year $2,368,178

  • 4 · Accounts receivable

    beginning of year $733,884 · end of year $621,737

  • 8 · Inventories for sale or use

    beginning of year $918,469 · end of year $1,043,637

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,136,045 · end of year $334,115

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

    $54,049,210

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

    $23,195,103

  • 10c · Land, buildings and equipment, net

    beginning of year $29,715,044 · end of year $30,854,107

  • 15 · Other assets

    beginning of year $3,429,523 · end of year $3,363,407

  • 17 · Accounts payable and accrued expenses

    beginning of year $572,192 · end of year $640,928

  • 23 · Secured mortgages and notes payable

    beginning of year $17,305,183 · end of year $18,253,429

  • 25 · Other liabilities

    beginning of year $56,399 · end of year $416,515

  • 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 $606,611 · end of year $744,053

  • 31 · Retained earnings, endowment or other funds

    beginning of year $18,481,945 · end of year $18,612,660

Mission and programs · 2023

Mission

TO SERVE RESIDENTIAL, COMMERCIAL, AND GOVERNMENTAL CONSUMERS WITH ELECTRIC UTILITY IN THE AREA OF CORDOVA, ALASKA.

Activities or mission (Part I)

SERVE RESIDENTIAL, COMMERCIAL, AND GOVERNMENTAL CONSUMERS WITH ELECTRIC UTILITY IN THE AREA OF CORDOVA, ALASKA.

  • REVENUES FROM THE SALE OF ELECTRIC ENERGY COVERS THE COST OF PRODUCING ELECTRICITY AND MANAGING THE COOPERATIVE IN ORDER TO PROVIDE ELECTRIC UTILITY SERVICE TO THE RESIDENTS AND BUSINESSES IN CORDOVA, ALASKA.

  • PATRONAGE REVENUES ARE USED TO PROVIDE FOR THE PAYMENT OF THE COSTS ASSOCIATED WITH FINANCING OPERATIONS.

  • RENTAL OF SPACE AND EQUIPMENT TO CHARITABLE AND OTHER ORGANIZATIONS.

As filed on the 2023 return.

Listed in Part VII

  • Joe Cook

    CHAIR

    Total calculated
    $20
    From this org
    $10
    From related orgs
    $0
    Other
    $10
    Hours/week
    4

  • Steven Phillips

    VICE CHAIR

    Total calculated
    $20
    From this org
    $10
    From related orgs
    $0
    Other
    $10
    Hours/week
    1

  • Steve Ranney

    SECRETARY/TREASURER

    Total calculated
    $20
    From this org
    $10
    From related orgs
    $0
    Other
    $10
    Hours/week
    1

  • Scott Pegau

    DIRECTOR

    Total calculated
    $20
    From this org
    $10
    From related orgs
    $0
    Other
    $10
    Hours/week
    1

  • Rob Campbell

    DIRECTOR

    Total calculated
    $20
    From this org
    $10
    From related orgs
    $0
    Other
    $10
    Hours/week
    1

  • Andrew Smallwood

    DIRECTOR

    Total calculated
    $20
    From this org
    $10
    From related orgs
    $0
    Other
    $10
    Hours/week
    1

  • Jeremy Botz

    DIRECTOR

    Total calculated
    $20
    From this org
    $10
    From related orgs
    $0
    Other
    $10
    Hours/week
    1

  • Clay Koplin

    CEO

    Total calculated
    $348,741
    From this org
    $212,715
    From related orgs
    $0
    Other
    $136,026
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $212,715
    Bonus
    $0
    Other
    $0
    Deferred
    $95,396
    Nontaxable benefits
    $40,630
    Filer's total
    $348,741

  • Emma Merritt

    MGR - ADMIN & FINANCE

    Total calculated
    $165,299
    From this org
    $111,110
    From related orgs
    $0
    Other
    $54,189
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $111,110
    Bonus
    $0
    Other
    $0
    Deferred
    $12,170
    Nontaxable benefits
    $42,019
    Filer's total
    $165,299

  • Russ Goss

    MGR - GENERATION

    Total calculated
    $220,249
    From this org
    $151,679
    From related orgs
    $0
    Other
    $68,570
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $151,679
    Bonus
    $0
    Other
    $0
    Deferred
    $26,260
    Nontaxable benefits
    $42,310
    Filer's total
    $220,249

  • Trever Kudrna

    TECHNOLOGY MANAGER

    Total calculated
    $263,447
    From this org
    $172,164
    From related orgs
    $0
    Other
    $91,283
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $167,164
    Bonus
    $5,000
    Other
    $0
    Deferred
    $48,671
    Nontaxable benefits
    $42,612
    Filer's total
    $263,447

  • Jeffrey Field

    LINEMAN FOREMAN

    Total calculated
    $181,494
    From this org
    $131,564
    From related orgs
    $0
    Other
    $49,930
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $131,564
    Bonus
    $0
    Other
    $0
    Deferred
    $23,964
    Nontaxable benefits
    $25,966
    Filer's total
    $181,494

  • Brian Wagner

    GENERATION FOREMAN

    Total calculated
    $165,703
    From this org
    $116,298
    From related orgs
    $0
    Other
    $49,405
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $116,298
    Bonus
    $0
    Other
    $0
    Deferred
    $23,439
    Nontaxable benefits
    $25,966
    Filer's total
    $165,703

  • Ben Simpler

    LINEMAN

    Total calculated
    $172,731
    From this org
    $123,238
    From related orgs
    $0
    Other
    $49,493
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $123,238
    Bonus
    $0
    Other
    $0
    Deferred
    $23,527
    Nontaxable benefits
    $25,966
    Filer's total
    $172,731

  • Garrett Collins

    GENERATION OPERATOR

    Total calculated
    $168,310
    From this org
    $117,717
    From related orgs
    $0
    Other
    $50,593
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $117,717
    Bonus
    $0
    Other
    $0
    Deferred
    $24,627
    Nontaxable benefits
    $25,966
    Filer's total
    $168,310

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 · Independent compensation consultant
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
24 September 2024
IRS schema version
2023v5.1
Source object
202422769349301447

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