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Nonprofiteer
← NORTHFORK ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by NORTHFORK ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$24,452,890
Total expenses
$24,457,006
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$24,317,792
Investment income
$117,527
Other revenue
$17,571
Total assets, end of year
$84,260,106
Total liabilities, end of year
$50,541,357
Net assets or fund balances, end of year
$33,718,749
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$24,457,006

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 $23,625,494 · related or exempt $23,625,494

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $692,298 · related or exempt $692,298

  • 3 · Investment income

    total $65,527 · excluded $65,527

  • 5 · Royalties

    total $17 · excluded $17

  • 7a · Gross sales of assets other than inventory

    other assets $57,000

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

    other assets $5,000

  • 7c · Gain or loss

    other assets $52,000

  • 7d · Net gain or loss

    total $52,000 · excluded $52,000

  • 10a · Gross sales of inventory

    $75,205

  • 10b · Cost of goods sold

    $57,651

  • 10c · Net income from sales of inventory

    total $17,554 · unrelated business $17,554

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,495,812

  • 5 · Compensation of officers, directors and key employees

    total $510,674

  • 7 · Other salaries and wages

    total $805,334

  • 20 · Interest

    total $1,638,047

  • 22 · Depreciation, depletion and amortization

    total $2,184,137

  • 24a · Other expenses: COST OF POWER

    total $11,622,587

  • 24b · Other expenses: DISTRIBUTION

    total $3,582,787

  • 24c · Other expenses: CONSUMER ACCOUNTS

    total $589,913

  • 24d · Other expenses: GENERAL & ADMINISTRATIVE

    total $553,253

  • 24e · All other expenses

    total $474,462

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,260,685 · end of year $804,502

  • 2 · Savings and temporary cash investments

    beginning of year $1,100,000

  • 4 · Accounts receivable

    beginning of year $2,926,824 · end of year $2,617,247

  • 8 · Inventories for sale or use

    beginning of year $1,325,290 · end of year $1,313,792

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,458,125 · end of year $1,099,818

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

    $84,389,993

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

    $19,598,008

  • 10c · Land, buildings and equipment, net

    beginning of year $62,698,270 · end of year $64,791,985

  • 13 · Investments: program-related

    beginning of year $10,978,658 · end of year $11,614,666

  • 14 · Intangible assets

    beginning of year $2,075,619 · end of year $2,018,096

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,048,818 · end of year $1,862,235

  • 23 · Secured mortgages and notes payable

    beginning of year $49,890,922 · end of year $48,107,860

  • 25 · Other liabilities

    beginning of year $446,948 · end of year $571,262

  • 29 · Capital stock, trust principal or current funds

    beginning of year $141,075 · end of year $141,405

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

    beginning of year $20,551 · end of year $22,442

  • 31 · Retained earnings, endowment or other funds

    beginning of year $31,275,157 · end of year $33,554,902

Mission and programs · 2024

Mission

TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.

  • TO PROVIDE ELECTRICITY TO OUR MEMBERS - 6,582 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

    Expenses $24,457,006

As filed on the 2024 return.

Listed in Part VII

  • Brent Meador

    GENERAL MANA

    Total calculated
    $324,045
    From this org
    $272,409
    From related orgs
    $0
    Other
    $51,636
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $265,004
    Bonus
    not reported
    Other
    $7,405
    Deferred
    $24,902
    Nontaxable benefits
    $26,734
    Filer's total
    $324,045

  • Thomas Sawyer

    DIRECTOR OPE

    Total calculated
    $186,156
    From this org
    $122,611
    From related orgs
    $0
    Other
    $63,545
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,454
    Bonus
    not reported
    Other
    $1,157
    Deferred
    $36,811
    Nontaxable benefits
    $26,734
    Filer's total
    $186,156

  • Richard Martin

    SAFETY DIREC

    Total calculated
    $166,410
    From this org
    $106,381
    From related orgs
    $0
    Other
    $60,029
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,337
    Bonus
    not reported
    Other
    $1,044
    Deferred
    $42,515
    Nontaxable benefits
    $17,514
    Filer's total
    $166,410

  • Ronnie Waldrop

    LINE SUPERIN

    Total calculated
    $165,941
    From this org
    $107,691
    From related orgs
    $0
    Other
    $58,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,849
    Bonus
    not reported
    Other
    $1,842
    Deferred
    $40,736
    Nontaxable benefits
    $17,514
    Filer's total
    $165,941

  • David Tignor

    MAINTENANCE

    Total calculated
    $149,046
    From this org
    $101,467
    From related orgs
    $0
    Other
    $47,579
    Hours/week
    40

  • Ben Fairless

    CONSTRUCTION

    Total calculated
    $137,780
    From this org
    $100,110
    From related orgs
    $0
    Other
    $37,670
    Hours/week
    40

  • Chad Smith

    SECRETARY

    Total calculated
    $33,184
    From this org
    $33,184
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Brad Harrison

    TRUSTEE

    Total calculated
    $29,884
    From this org
    $29,884
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Bandy Silk

    VICE PRESIDE

    Total calculated
    $29,134
    From this org
    $29,134
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.5

  • Brandon Hickey

    TRUSTEE

    Total calculated
    $28,834
    From this org
    $28,834
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • James C Taylor

    PRESIDENT

    Total calculated
    $23,664
    From this org
    $23,664
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Chris Mackey

    TRUSTEE

    Total calculated
    $21,114
    From this org
    $21,114
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Charles L Hickey

    TRUSTEE

    Total calculated
    $20,814
    From this org
    $20,814
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

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

The filer's explanations (Part III)

SCHEDULE J, PART III
PART II (D) NONTAXABLE BENEFITS NONTAXABLE BENEFITS PRIMARILY INCLUDE PREMIUMS PAID FOR EMPLOYEE MEDICAL, DENTAL AND PRESCRIPTION INSURANCE. BLUE CROSS BLUE SHIELD OF OKLAHOMA ADMINISTERS THESE PLANS.

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.

  • NORTHFORK ENTERPRISES INC

    C CORP · COMM. · OK · 100% owned · share of income $15,947 · share of assets $66,811

    Directly controlled by NFEC NORTHFORK ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2024
Filed
7 October 2025
IRS schema version
2024v5.0
Source object
202543149349304194

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