Totals
- Total revenue
- $151,220,535
- Total expenses
- $151,220,535
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $150,990,352
- Investment income
- $230,183
- Other revenue
- $0
- Total assets, end of year
- $282,095,755
- Total liabilities, end of year
- $161,852,235
- Net assets or fund balances, end of year
- $120,243,520
- 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.
-
2a · Program service revenue: ELECTRICITY SALES
total $147,293,138 · related or exempt $147,293,138
-
2b · Program service revenue: PATRONGE CAPITAL CREDITS
total $1,971,729 · related or exempt $1,971,729
-
2c · Program service revenue: OTHER UTILITY REVENUE
total $1,250,024 · related or exempt $1,250,024
-
2d · Program service revenue: POLE RENTAL
total $475,461 · excluded $475,461
-
3 · Investment income
total $230,183 · excluded $230,183
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $6,466,730
-
5 · Compensation of officers, directors and key employees
total $567,415
-
20 · Interest
total $3,853,824
-
22 · Depreciation, depletion and amortization
total $10,206,648
-
24a · Other expenses: PURCHASED POWER
total $101,031,375
-
24b · Other expenses: DISTRIBUTION OPERATIONS
total $11,330,974
-
24c · Other expenses: DISTRIBUTION MAINTENANCE
total $6,691,983
-
24d · Other expenses: ADMIN. & GENERAL EXP.
total $5,304,372
-
24e · All other expenses
total $5,767,214
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,566,662 · end of year $2,623,749
-
2 · Savings and temporary cash investments
beginning of year $4,407,637 · end of year $15,902,024
-
4 · Accounts receivable
beginning of year $12,550,214 · end of year $13,283,595
-
8 · Inventories for sale or use
beginning of year $6,917,426 · end of year $7,782,239
-
9 · Prepaid expenses and deferred charges
beginning of year $3,074,217 · end of year $3,006,042
-
10a · Land, buildings and equipment: cost or other basis
$323,167,230
-
10b · Land, buildings and equipment: accumulated depreciation
$103,457,160
-
10c · Land, buildings and equipment, net
beginning of year $209,425,864 · end of year $219,710,070
-
11 · Investments: publicly traded securities
beginning of year $961,616 · end of year $869,491
-
13 · Investments: program-related
beginning of year $15,193,984 · end of year $16,904,985
-
15 · Other assets
beginning of year $8,426 · end of year $2,013,560
-
17 · Accounts payable and accrued expenses
beginning of year $20,442,602 · end of year $24,026,579
-
23 · Secured mortgages and notes payable
beginning of year $101,511,868 · end of year $124,190,636
-
25 · Other liabilities
beginning of year $15,545,481 · end of year $13,635,020
-
29 · Capital stock, trust principal or current funds
beginning of year $300,975 · end of year $305,195
-
31 · Retained earnings, endowment or other funds
beginning of year $116,305,120 · end of year $119,938,325
Mission and programs · 2024
Mission
TO PROVIDE UNSURPASSED INNOVATIVE AND DIVERSIFIED SERVICE AT A REASONABLE COST WHILE IMPROVING THE QUALITY OF LIFE AND PROMOTING INTEGRITY, ECONOMIC DEVELOPMENT, SAFETY AND A VISION OF THE FUTURE.
-
TO PROVIDE UNSURPASSED INNOVATIVE AND DIVERSIFIED ELECTRIC SERVICE AT A REASONABLE COST WHILE IMPROVING THE QUALITY OF LIFE AND PROMOTING INTEGRITY, ECONOMIC DEVELOPMENT, SAFETY AND A VISION OF THE FUTURE.
As filed on the 2024 return.
Listed in Part VII
-
E Paul BashaE PAUL BASHA
PRESIDENT &
- Total calculated
- $476,074
- From this org
- $450,618
- From related orgs
- $0
- Other
- $25,456
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $159,693
- Bonus
- $350
- Other
- $290,575
- Deferred
- $4,996
- Nontaxable benefits
- $20,460
- Filer's total
- $476,074
-
J Craig SpencerJ CRAIG SPENCER
PRESIDENT &
- Total calculated
- $315,119
- From this org
- $274,162
- From related orgs
- $0
- Other
- $40,957
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $257,303
- Bonus
- $8,764
- Other
- $8,095
- Deferred
- $7,733
- Nontaxable benefits
- $33,224
- Filer's total
- $315,119
-
R Marcus HowieR MARCUS HOWIE
VP-COMM. DEV
- Total calculated
- $291,167
- From this org
- $193,129
- From related orgs
- $0
- Other
- $98,038
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $183,196
- Bonus
- $3,674
- Other
- $6,259
- Deferred
- $65,402
- Nontaxable benefits
- $32,636
- Filer's total
- $291,167
-
W Phillip LeakeW PHILLIP LEAKE
VP OF OPERAT
- Total calculated
- $258,776
- From this org
- $171,229
- From related orgs
- $0
- Other
- $87,547
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,096
- Bonus
- $6,324
- Other
- $6,809
- Deferred
- $55,510
- Nontaxable benefits
- $32,037
- Filer's total
- $258,776
-
James SalmonJAMES SALMON
VP OF INFO.
- Total calculated
- $256,410
- From this org
- $167,111
- From related orgs
- $0
- Other
- $89,299
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $159,144
- Bonus
- $3,336
- Other
- $4,631
- Deferred
- $57,157
- Nontaxable benefits
- $32,142
- Filer's total
- $256,410
-
Patricia MossPATRICIA MOSS
VP OF HUMAN
- Total calculated
- $248,723
- From this org
- $160,709
- From related orgs
- $0
- Other
- $88,014
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,844
- Bonus
- $2,050
- Other
- $1,815
- Deferred
- $55,943
- Nontaxable benefits
- $32,071
- Filer's total
- $248,723
-
Wendy CatledgeWENDY CATLEDGE
VP-MEMBER SE
- Total calculated
- $247,138
- From this org
- $162,476
- From related orgs
- $0
- Other
- $84,662
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $153,117
- Bonus
- $6,185
- Other
- $3,174
- Deferred
- $52,780
- Nontaxable benefits
- $31,882
- Filer's total
- $247,138
-
William MitchellWILLIAM MITCHELL
TRUSTEE
- Total calculated
- $43,323
- From this org
- $43,323
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Scott GoodSCOTT GOOD
TRUSTEE
- Total calculated
- $41,673
- From this org
- $41,673
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Richard SadlerRICHARD SADLER
VICE CHAIRMA
- Total calculated
- $41,323
- From this org
- $41,323
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Kevin TolsonKEVIN TOLSON
TRUSTEE
- Total calculated
- $24,409
- From this org
- $24,409
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Carolyn BoydCAROLYN BOYD
SECRETARY/TR
- Total calculated
- $23,286
- From this org
- $23,286
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Tommie BrattonTOMMIE BRATTON
TRUSTEE
- Total calculated
- $22,575
- From this org
- $22,575
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Tom SettlemyreTOM SETTLEMYRE
CHAIRMAN
- Total calculated
- $22,404
- From this org
- $22,404
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Edward Jack CornwellEDWARD JACK CORNWELL
TRUSTEE
- Total calculated
- $17,050
- From this org
- $17,050
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Richard RoachRICHARD ROACH
TRUSTEE
- Total calculated
- $16,254
- From this org
- $16,254
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
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 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 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
- 2024
- Filed
- 21 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202512979349301611
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