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Nonprofiteer
← WIRE GRASS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by WIRE GRASS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$56,969,794
Total expenses
$56,969,794
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$56,196,174
Investment income
$220,281
Other revenue
$553,339
Total assets, end of year
$149,286,109
Total liabilities, end of year
$73,186,513
Net assets or fund balances, end of year
$76,099,596
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: Sales of Electricity

    total $55,227,449 · related or exempt $55,227,449

  • 2b · Program service revenue: Patronage Dividends

    total $968,725 · related or exempt $968,725

  • 3 · Investment income

    total $247,962 · excluded $247,962

  • 6a · Gross rents

    personal property $392,311

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $392,311

  • 6d · Net rental income or loss

    total $392,311 · excluded $392,311

  • 7a · Gross sales of assets other than inventory

    other assets $5,000

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

    other assets $32,681

  • 7c · Gain or loss

    other assets -$27,681

  • 7d · Net gain or loss

    total -$27,681 · related or exempt -$27,681

  • 11a · Other revenue: Sanitation Billing Fee

    total $161,028 · unrelated business $161,028

  • 11e · Other revenue, total

    $161,028

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,077,902

  • 5 · Compensation of officers, directors and key employees

    total $1,110,937

  • 20 · Interest

    total $1,860,982

  • 22 · Depreciation, depletion and amortization

    total $4,211,139

  • 24a · Other expenses: Cost of Power

    total $35,717,398

  • 24b · Other expenses: Dist Exp - Maintenance

    total $3,291,722

  • 24c · Other expenses: Customer Accounts Exp

    total $2,847,763

  • 24d · Other expenses: Dist Exp - Operations

    total $2,748,396

  • 24e · All other expenses

    total $3,103,555

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,216,453 · end of year $8,086,479

  • 2 · Savings and temporary cash investments

    beginning of year $68,949 · end of year $69,850

  • 4 · Accounts receivable

    beginning of year $4,666,585 · end of year $4,660,136

  • 8 · Inventories for sale or use

    beginning of year $928,853 · end of year $1,544,963

  • 9 · Prepaid expenses and deferred charges

    beginning of year $284,770 · end of year $252,360

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

    $137,190,695

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

    $30,444,227

  • 10c · Land, buildings and equipment, net

    beginning of year $101,011,847 · end of year $106,746,468

  • 13 · Investments: program-related

    beginning of year $26,847,374 · end of year $27,925,853

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,527,802 · end of year $6,709,166

  • 19 · Deferred revenue

    beginning of year $1,350,000 · end of year $1,900,000

  • 23 · Secured mortgages and notes payable

    beginning of year $59,297,625 · end of year $62,231,981

  • 25 · Other liabilities

    beginning of year $2,264,445 · end of year $2,345,366

  • 29 · Capital stock, trust principal or current funds

    beginning of year $93,900 · end of year $95,210

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $74,491,059 · end of year $76,004,386

Mission and programs · 2022

Mission

Wiregrass Electric Cooperative is a distribution cooperative, providing electricity to its members at cost. Margins are assigned to members each year and returned in the form of capital credit retirements as the cooperative is financially able.

Activities or mission (Part I)

To provide electric utility service to cooperative members.

  • Utilizing approximately 3,218 miles of electric distribution lines, Wiregrass Electric Cooperative provided 394,725,358 Kilowatt hours of electric energy to over 18,900 consumer-members in Houston and Geneva Counties in Alabama and parts of Dale, Coffee, Henry, and Covington Counties.

As filed on the 2022 return.

Listed in Part VII

  • John Clark

    Trustee

    Total calculated
    $13,531
    From this org
    $13,531
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Debra Baxley

    Trustee - Secretary

    Total calculated
    $13,853
    From this org
    $13,853
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Ford Justice

    Trustee

    Total calculated
    $13,247
    From this org
    $13,247
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • David Winstead

    Trustee - President

    Total calculated
    $12,556
    From this org
    $12,556
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Gregory McCullough

    Trustee

    Total calculated
    $13,531
    From this org
    $13,531
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Danny B McNeil

    Trustee

    Total calculated
    $13,351
    From this org
    $13,351
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Tracy Reeder

    Trustee

    Total calculated
    $13,832
    From this org
    $13,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    13

  • Donald Ray Wilks

    Trustee

    Total calculated
    $11,200
    From this org
    $11,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Randy Odom

    Trustee - Vice President

    Total calculated
    $12,760
    From this org
    $12,760
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Leslie Moreland

    Chief Executive Officer

    Total calculated
    $315,607
    From this org
    $230,571
    From related orgs
    $0
    Other
    $85,036
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $225,052
    Bonus
    $0
    Other
    $5,519
    Deferred
    $59,524
    Nontaxable benefits
    $25,512
    Filer's total
    $315,607

  • Brad Kimbro

    Chief Operating Officer

    Total calculated
    $253,293
    From this org
    $186,330
    From related orgs
    $0
    Other
    $66,963
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $185,556
    Bonus
    $0
    Other
    $774
    Deferred
    $43,963
    Nontaxable benefits
    $23,000
    Filer's total
    $253,293

  • Jason Thrash

    VP of Engineering & Operat

    Total calculated
    $222,668
    From this org
    $161,182
    From related orgs
    $0
    Other
    $61,486
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,888
    Bonus
    $0
    Other
    $294
    Deferred
    $38,640
    Nontaxable benefits
    $22,846
    Filer's total
    $222,668

  • Lisa LeNoir

    Chief Finance Officer

    Total calculated
    $201,508
    From this org
    $143,239
    From related orgs
    $0
    Other
    $58,269
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $142,842
    Bonus
    $0
    Other
    $397
    Deferred
    $35,458
    Nontaxable benefits
    $22,811
    Filer's total
    $201,508

  • Benjamin Miller

    Serviceman

    Total calculated
    $164,779
    From this org
    $119,808
    From related orgs
    $0
    Other
    $44,971
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $119,242
    Bonus
    $0
    Other
    $566
    Deferred
    $22,652
    Nontaxable benefits
    $22,319
    Filer's total
    $164,779

  • Jason Grooms

    Serviceman

    Total calculated
    $150,320
    From this org
    $126,358
    From related orgs
    $0
    Other
    $23,962
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $126,160
    Bonus
    $0
    Other
    $198
    Deferred
    $22,718
    Nontaxable benefits
    $1,244
    Filer's total
    $150,320

  • Chad Sorrells

    Serviceman

    Total calculated
    $156,163
    From this org
    $111,316
    From related orgs
    $0
    Other
    $44,847
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $111,118
    Bonus
    $0
    Other
    $198
    Deferred
    $22,328
    Nontaxable benefits
    $22,519
    Filer's total
    $156,163

  • Joey Brown

    Manager of Operations

    Total calculated
    $145,088
    From this org
    $118,453
    From related orgs
    $0
    Other
    $26,635
    Hours/week
    50

  • Steven Sauls

    Manager of Field Operations

    Total calculated
    $156,421
    From this org
    $113,035
    From related orgs
    $0
    Other
    $43,386
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $112,628
    Bonus
    $0
    Other
    $407
    Deferred
    $26,230
    Nontaxable benefits
    $17,156
    Filer's total
    $156,421

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 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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
3 October 2023
IRS schema version
2022v5.0
Source object
202302779349300830

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