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Nonprofiteer
← CRAIGHEAD ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2023

Filed by CRAIGHEAD ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$80,605,393
Total expenses
$80,605,393
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$76,741,507
Investment income
$3,829,764
Other revenue
$34,122
Total assets, end of year
$338,329,297
Total liabilities, end of year
$211,439,490
Net assets or fund balances, end of year
$126,889,807
Program services expenses (Part IX)
$80,605,393
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: SALE OF ELECTRIC ENERGY

    total $71,877,304 · related or exempt $71,877,304

  • 2b · Program service revenue: RENTAL - OFFICE SPACE

    total $4,126,587 · excluded $4,126,587

  • 2c · Program service revenue: RENTAL - EQUIPMENT

    total $701,582 · excluded $701,582

  • 2d · Program service revenue: CERTAIN PROPERTY

    total $33,944 · related or exempt $33,944

  • 2e · Program service revenue: MERCHANDISING

    total $2,090 · excluded $2,090

  • 3 · Investment income

    total $3,829,764 · related or exempt $803,443 · excluded $3,026,321

  • 11a · Other revenue: EXCESS SALES TAX COLLECTED

    total $34,122 · related or exempt $34,122

  • 11e · Other revenue, total

    $34,122

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,695,115 · program services $7,695,115

  • 5 · Compensation of officers, directors and key employees

    total $948,208 · program services $948,208

  • 6 · Compensation of disqualified persons

    total $419,812 · program services $419,812

  • 7 · Other salaries and wages

    total $9,407,434 · program services $9,407,434

  • 11g · Fees: other

    total $51,453,665 · program services $51,453,665

  • 22 · Depreciation, depletion and amortization

    total $10,678,841 · program services $10,678,841

  • 24a · Other expenses: COGS

    total $2,318 · program services $2,318

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,346,953 · end of year $20,551,294

  • 2 · Savings and temporary cash investments

    beginning of year $7,447,017 · end of year $5,053,502

  • 3 · Pledges and grants receivable

    beginning of year $35,078 · end of year $49,332

  • 4 · Accounts receivable

    beginning of year $6,606,821 · end of year $5,730,669

  • 8 · Inventories for sale or use

    beginning of year $5,526,763 · end of year $4,641,348

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,758,233 · end of year $1,577,403

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

    $337,369,796

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

    $81,361,060

  • 10c · Land, buildings and equipment, net

    beginning of year $245,739,276 · end of year $256,008,736

  • 13 · Investments: program-related

    beginning of year $23,254,054 · end of year $23,505,846

  • 15 · Other assets

    beginning of year $21,402,996 · end of year $21,211,167

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,085,763 · end of year $5,478,530

  • 18 · Grants payable

    beginning of year $1,850,982 · end of year $1,594,803

  • 19 · Deferred revenue

    beginning of year $10,188,106 · end of year $10,540,901

  • 23 · Secured mortgages and notes payable

    beginning of year $179,803,298 · end of year $193,825,256

  • 29 · Capital stock, trust principal or current funds

    beginning of year $97,564 · end of year $94,808

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

    beginning of year $54,262,629 · end of year $67,840,593

  • 31 · Retained earnings, endowment or other funds

    beginning of year $68,828,849 · end of year $58,954,406

Mission and programs · 2023

Mission

PROVIDE ELECTRIC POWER TO RURAL AREAS.

  • SALE OF ELECTRIC POWER TO MEMBERS. 37,922 SERVICES IN PLACE AT END OF YEAR.

  • SALE OF BROADBAND SERVICES TO MEMBERS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeremiah Sloan

    CEO

    Total calculated
    $419,812
    From this org
    $316,616
    From related orgs
    $0
    Other
    $103,196
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $316,616
    Bonus
    not reported
    Other
    not reported
    Deferred
    $103,196
    Nontaxable benefits
    not reported
    Filer's total
    $419,812

  • Keith Blocker

    VP ENGINEERI

    Total calculated
    $308,317
    From this org
    $230,533
    From related orgs
    $0
    Other
    $77,784
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $230,533
    Bonus
    not reported
    Other
    not reported
    Deferred
    $77,784
    Nontaxable benefits
    not reported
    Filer's total
    $308,317

  • Mark A Miller

    VP OF OPERAT

    Total calculated
    $267,288
    From this org
    $200,120
    From related orgs
    $0
    Other
    $67,168
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $200,120
    Bonus
    not reported
    Other
    not reported
    Deferred
    $67,168
    Nontaxable benefits
    not reported
    Filer's total
    $267,288

  • Justin Etter

    VP OF CORP.

    Total calculated
    $230,137
    From this org
    $165,756
    From related orgs
    $0
    Other
    $64,381
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,756
    Bonus
    not reported
    Other
    not reported
    Deferred
    $64,381
    Nontaxable benefits
    not reported
    Filer's total
    $230,137

  • Tosh Manning

    JOURNEYMAN L

    Total calculated
    $207,871
    From this org
    $161,155
    From related orgs
    $0
    Other
    $46,716
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $161,155
    Bonus
    not reported
    Other
    not reported
    Deferred
    $46,716
    Nontaxable benefits
    not reported
    Filer's total
    $207,871

  • Bill Elliot Jr

    DIRECTOR

    Total calculated
    $25,094
    From this org
    $25,094
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.83

  • Terry Rorex

    DIRECTOR

    Total calculated
    $24,898
    From this org
    $24,898
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.24

  • Dwight England

    DIRECTOR

    Total calculated
    $22,104
    From this org
    $22,104
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.83

  • Steve Kueter

    DIRECTOR

    Total calculated
    $20,294
    From this org
    $20,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.13

  • Keith Mosbey

    DIRECTOR

    Total calculated
    $20,294
    From this org
    $20,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.15

  • Len Nall

    DIRECTOR

    Total calculated
    $15,066
    From this org
    $15,066
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.98

  • Bobby Wade

    DIRECTOR

    Total calculated
    $14,716
    From this org
    $14,716
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.27

  • Mel Coleman

    INTERIM CEO

    Total calculated
    $0

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

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 3EB BROADBAND SOLUTIONS LLC

    BROADBAND · AR

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.0
Source object
202423059349302052

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