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Nonprofiteer
← SHELBY ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by SHELBY ELECTRIC COOPERATIVE.

Totals

Total revenue
$42,327,754
Total expenses
$39,893,084
Contributions and grants received
$2,434,670
Grants paid
$7,500
Program service revenue
$39,807,974
Investment income
$71,156
Other revenue
$13,954
Total assets, end of year
$83,722,438
Total liabilities, end of year
$28,894,281
Net assets or fund balances, end of year
$54,828,157
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.

  • 1e · Government grants (contributions)

    $2,434,670

  • 2a · Program service revenue: Sale of Electricity

    total $37,057,824 · related or exempt $37,057,824

  • 2b · Program service revenue: Capital Credits

    total $1,446,251 · related or exempt $1,446,251

  • 2c · Program service revenue: Broadband Activities

    total $1,091,498 · related or exempt $1,091,498

  • 2d · Program service revenue: Other Operating

    total $212,401 · related or exempt $212,401

  • 3 · Investment income

    total $71,156 · excluded $71,156

  • 6a · Gross rents

    personal property $9,377

  • 6c · Rental income or loss

    personal property $9,377

  • 6d · Net rental income or loss

    total $9,377 · excluded $9,377

  • 11a · Other revenue: Non Operating

    total -$28,423 · related or exempt -$28,423

  • 11b · Other revenue: 990-T Revenue

    total $33,000 · unrelated business $33,000

  • 11e · Other revenue, total

    $4,577

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,500

  • 4 · Benefits paid to or for members

    total $3,407,976

  • 5 · Compensation of officers, directors and key employees

    total $605,809

  • 7 · Other salaries and wages

    total $747,429

  • 20 · Interest

    total $1,041,667

  • 22 · Depreciation, depletion and amortization

    total $2,789,826

  • 24a · Other expenses: Cost of Power

    total $23,376,669 · program services $23,376,669

  • 24b · Other expenses: Admin & General

    total $1,962,580 · program services $1,962,580

  • 24c · Other expenses: Distribution Expense

    total $3,541,183 · program services $3,541,183

  • 24d · Other expenses: Member Services

    total $1,467,588 · program services $1,467,588

  • 24e · All other expenses

    total $944,857

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,704,331 · end of year $1,706,942

  • 4 · Accounts receivable

    beginning of year $4,156,483 · end of year $4,222,512

  • 7 · Other notes and loans receivable

    beginning of year $3,834,431 · end of year $678,696

  • 8 · Inventories for sale or use

    beginning of year $1,821,996 · end of year $3,257,810

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,326,637 · end of year $1,159,497

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

    $95,485,020

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

    $47,340,652

  • 10c · Land, buildings and equipment, net

    beginning of year $41,121,303 · end of year $48,144,368

  • 13 · Investments: program-related

    beginning of year $21,617,755 · end of year $24,552,613

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,948,928 · end of year $2,630,172

  • 19 · Deferred revenue

    beginning of year $3,926,382 · end of year $987,087

  • 23 · Secured mortgages and notes payable

    beginning of year $21,351,360 · end of year $18,799,830

  • 24 · Unsecured notes and loans payable

    end of year $5,000,000

  • 25 · Other liabilities

    beginning of year $1,458,912 · end of year $1,477,192

  • 29 · Capital stock, trust principal or current funds

    beginning of year $3,399,654 · end of year $3,543,151

  • 31 · Retained earnings, endowment or other funds

    beginning of year $48,497,700 · end of year $51,285,006

Mission and programs · 2023

Mission

To provide reliable electric power and related services to our members at an affordable cost.

  • Shelby Electric Cooperative serves all or parts of Christian, Cumberland, Efingham, Fayette, Macon, Montgomery, Moultrie, Sangamon and Shelby couties. The Cooperative serves around 10,000 member-owners with over 2,200 miles of energized line.

As filed on the 2023 return.

Listed in Part VII

  • Josh M Shallenberger

    CEO

    Total calculated
    $388,409
    From this org
    $287,358
    From related orgs
    $0
    Other
    $101,051
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $287,358
    Bonus
    not reported
    Other
    not reported
    Deferred
    $78,258
    Nontaxable benefits
    $22,793
    Filer's total
    $388,409

  • Bradley R Wright

    Operations

    Total calculated
    $204,024
    From this org
    $129,227
    From related orgs
    $0
    Other
    $74,797
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $129,227
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,458
    Nontaxable benefits
    $21,339
    Filer's total
    $204,024

  • Brian R Chevalier

    Operations

    Total calculated
    $195,931
    From this org
    $135,325
    From related orgs
    $0
    Other
    $60,606
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $135,325
    Bonus
    not reported
    Other
    not reported
    Deferred
    $39,134
    Nontaxable benefits
    $21,472
    Filer's total
    $195,931

  • Andrew M McDonald

    Operations

    Total calculated
    $186,462
    From this org
    $131,932
    From related orgs
    $0
    Other
    $54,530
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $131,932
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,191
    Nontaxable benefits
    $21,339
    Filer's total
    $186,462

  • James A Matlock

    COO

    Total calculated
    $171,500
    From this org
    $145,288
    From related orgs
    $0
    Other
    $26,212
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $145,288
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,449
    Nontaxable benefits
    $21,763
    Filer's total
    $171,500

  • Terry L Oldham

    Operations

    Total calculated
    $161,012
    From this org
    $135,324
    From related orgs
    $0
    Other
    $25,688
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $135,324
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,065
    Nontaxable benefits
    $21,623
    Filer's total
    $161,012

  • Robert Holthaus

    Director

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • David Keown

    Director

    Total calculated
    $6,900
    From this org
    $6,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Rob Bullock

    Director

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Gardner

    Director

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Scott Ohmes

    Director

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brent Lively

    Director

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Greg Mackling

    Director

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tim Lenz

    Director

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Larry Durbin

    Director

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Brian Halbrook

    Director

    Total calculated
    $1,500
    From this org
    $1,500
    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 · Written employment contract
  • 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

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.

  • Shelby Energy Company

    C Corp · Propane Sales · IL · 100% owned · share of income $7,434 · share of assets $2,109,896 · controlled entity

    Directly controlled by Shelby Electric Cooperative

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202413209349314111

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