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Nonprofiteer
← WOODRUFF ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2022

Filed by WOODRUFF ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$59,033,506
Total expenses
$59,033,506
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$58,493,061
Investment income
$489,124
Other revenue
$51,321
Total assets, end of year
$206,489,107
Total liabilities, end of year
$114,670,577
Net assets or fund balances, end of year
$91,818,530
Program services expenses (Part IX)
$59,033,506
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$59,033,506

Program services were 100.0% 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 REVENUES

    total $56,774,403 · related or exempt $56,774,403

  • 2b · Program service revenue: G&T AND OTHER CAPITAL CREDITS

    total $1,718,658 · related or exempt $1,718,658

  • 3 · Investment income

    total $493,024 · related or exempt $493,024

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

    other assets $3,900

  • 7c · Gain or loss

    other assets -$3,900

  • 7d · Net gain or loss

    total -$3,900 · related or exempt -$3,900

  • 10a · Gross sales of inventory

    $124,023

  • 10b · Cost of goods sold

    $72,702

  • 10c · Net income from sales of inventory

    total $51,321 · related or exempt $51,321

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,528,117 · program services $4,528,117

  • 5 · Compensation of officers, directors and key employees

    total $707,114 · program services $707,114

  • 6 · Compensation of disqualified persons

    total $13,652 · program services $13,652

  • 7 · Other salaries and wages

    total $5,508,424 · program services $5,508,424

  • 11g · Fees: other

    total $38,908,001 · program services $38,908,001

  • 20 · Interest

    total $3,572,098 · program services $3,572,098

  • 22 · Depreciation, depletion and amortization

    total $5,796,100 · program services $5,796,100

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,156,151 · end of year $970,379

  • 2 · Savings and temporary cash investments

    beginning of year $24,917,366 · end of year $8,586,879

  • 4 · Accounts receivable

    beginning of year $3,397,764 · end of year $3,697,760

  • 8 · Inventories for sale or use

    beginning of year $1,261,544 · end of year $1,784,188

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,240,168 · end of year $1,909,282

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

    $215,097,894

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

    $46,213,834

  • 10c · Land, buildings and equipment, net

    beginning of year $156,314,564 · end of year $168,884,060

  • 12 · Investments: other securities

    beginning of year $17,654,666 · end of year $20,387,547

  • 15 · Other assets

    beginning of year $166,130 · end of year $269,012

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,040,174 · end of year $3,285,929

  • 23 · Secured mortgages and notes payable

    beginning of year $110,466,905 · end of year $105,959,091

  • 25 · Other liabilities

    beginning of year $5,193,699 · end of year $5,425,557

  • 29 · Capital stock, trust principal or current funds

    beginning of year $206,970 · end of year $206,220

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

    beginning of year $81,023,864 · end of year $83,600,471

  • 31 · Retained earnings, endowment or other funds

    beginning of year $8,176,741 · end of year $8,011,839

Mission and programs · 2022

Mission

TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

  • PROVIDE ELECTRICITY - RURAL AREAS, 24,329 TOTAL SERVICES IN PLACE AT YEAR END.

    Expenses $59,033,506

As filed on the 2022 return.

Listed in Part VII

  • Michael L Swan

    PRESIDENT/CE

    Total calculated
    $348,370
    From this org
    $233,000
    From related orgs
    $0
    Other
    $115,370

    Schedule J breakdown matched by us

    Base
    $233,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    $103,830
    Nontaxable benefits
    $11,540
    Filer's total
    $348,370

  • Ronald L Cockmon

    VP-OFFICE SE

    Total calculated
    $247,035
    From this org
    $157,481
    From related orgs
    $0
    Other
    $89,554

    Schedule J breakdown matched by us

    Base
    $157,481
    Bonus
    not reported
    Other
    not reported
    Deferred
    $70,087
    Nontaxable benefits
    $19,467
    Filer's total
    $247,035

  • Jimmy R Cook

    VP-ENGINEERI

    Total calculated
    $221,876
    From this org
    $146,478
    From related orgs
    $0
    Other
    $75,398

    Schedule J breakdown matched by us

    Base
    $146,478
    Bonus
    not reported
    Other
    not reported
    Deferred
    $65,092
    Nontaxable benefits
    $10,306
    Filer's total
    $221,876

  • Glenn M Kelley

    VP-INFORMATI

    Total calculated
    $211,616
    From this org
    $133,293
    From related orgs
    $0
    Other
    $78,323

    Schedule J breakdown matched by us

    Base
    $133,293
    Bonus
    not reported
    Other
    not reported
    Deferred
    $59,255
    Nontaxable benefits
    $19,068
    Filer's total
    $211,616

  • Rodney Kelso

    VP - OPERATI

    Total calculated
    $206,270
    From this org
    $129,583
    From related orgs
    $0
    Other
    $76,687

    Schedule J breakdown matched by us

    Base
    $129,583
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,639
    Nontaxable benefits
    $19,048
    Filer's total
    $206,270

  • Edward Milton

    DISTRICT MAN

    Total calculated
    $166,589
    From this org
    $102,202
    From related orgs
    $0
    Other
    $64,387

    Schedule J breakdown matched by us

    Base
    $102,202
    Bonus
    not reported
    Other
    not reported
    Deferred
    $45,783
    Nontaxable benefits
    $18,604
    Filer's total
    $166,589

  • Kevin Scott

    VP - CORPORA

    Total calculated
    $163,649
    From this org
    $100,370
    From related orgs
    $0
    Other
    $63,279

    Schedule J breakdown matched by us

    Base
    $100,370
    Bonus
    not reported
    Other
    not reported
    Deferred
    $44,691
    Nontaxable benefits
    $18,588
    Filer's total
    $163,649

  • Norma Hawkins

    VP OF HUMAN

    Total calculated
    $159,984
    From this org
    $104,224
    From related orgs
    $0
    Other
    $55,760

    Schedule J breakdown matched by us

    Base
    $104,224
    Bonus
    not reported
    Other
    not reported
    Deferred
    $46,437
    Nontaxable benefits
    $9,323
    Filer's total
    $159,984

  • Barry Duncan

    DISTRICT MAN

    Total calculated
    $135,752
    From this org
    $80,912
    From related orgs
    $0
    Other
    $54,840

  • Ab Thompson Jr

    DIRECTOR

    Total calculated
    $31,530
    From this org
    $31,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    26

  • Jerry Brown

    DIRECTOR

    Total calculated
    $30,590
    From this org
    $30,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    28

  • Charles C Burrow III

    DIRECTOR

    Total calculated
    $27,677
    From this org
    $27,677
    From related orgs
    $0
    Other
    $0
    Hours/week
    28

  • Joe Whittenton III

    DIRECTOR

    Total calculated
    $22,778
    From this org
    $22,778
    From related orgs
    $0
    Other
    $0
    Hours/week
    19

  • W Wayne Beadles

    DIRECTOR

    Total calculated
    $22,630
    From this org
    $22,630
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Jimmy N Bickerstaff

    DIRECTOR

    Total calculated
    $21,830
    From this org
    $21,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Shelia Banks

    DIRECTOR

    Total calculated
    $15,073
    From this org
    $15,073
    From related orgs
    $0
    Other
    $0
    Hours/week
    22

  • Jack Caperton III

    DIRECTOR

    Total calculated
    $13,652
    From this org
    $13,652
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $13,652
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $13,652

  • Brent Ponder

    DIRECTOR

    Total calculated
    $11,700
    From this org
    $11,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Bill Rushing

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ENLIGHTENED BY WOODRUFF ELECTRIC LL

    BROADBAND · AR

Provenance

Return type
form_990
Tax year
2022
Filed
7 October 2023
IRS schema version
2022v5.0
Source object
202313049349300536

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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