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Nonprofiteer
← TALLAPOOSA RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by TALLAPOOSA RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$70,999,867
Total expenses
$70,347,362
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$69,721,381
Investment income
$1,139,604
Other revenue
$138,882
Total assets, end of year
$165,911,933
Total liabilities, end of year
$31,681,234
Net assets or fund balances, end of year
$134,230,699
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: RESIDENTIAL SALES

    total $49,029,489 · related or exempt $49,029,489

  • 2b · Program service revenue: COMMERCIAL & INDUSTRIAL- LARG

    total $13,185,427 · related or exempt $13,185,427

  • 2c · Program service revenue: COMMERCIAL & INDUSTRIAL- SMAL

    total $5,873,587 · related or exempt $5,873,587

  • 2d · Program service revenue: POLE ATTACHMENTS

    total $885,232 · related or exempt $885,232

  • 2e · Program service revenue: MISC SERV. REV. - NON TAXABLE

    total $747,406 · related or exempt $747,406

  • 2f · All other program service revenue

    total $240 · related or exempt $240

  • 3 · Investment income

    total $1,139,604 · related or exempt $1,006,831 · excluded $132,773

  • 11a · Other revenue: MISC NON-OPERATING INCOME

    total $138,882 · related or exempt $138,882

  • 11e · Other revenue, total

    $138,882

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,399,908

  • 5 · Compensation of officers, directors and key employees

    total $413,318

  • 7 · Other salaries and wages

    total $416,750

  • 20 · Interest

    total $456,526

  • 22 · Depreciation, depletion and amortization

    total $4,455,734

  • 24a · Other expenses: PURCHASED POWER

    total $48,586,433

  • 24b · Other expenses: DIST EXP - MAINTENANCE

    total $5,716,077

  • 24c · Other expenses: DIST EXP - OPERATION

    total $3,431,580

  • 24d · Other expenses: CONSUMER ACCOUNTS EXP

    total $1,769,649

  • 24e · All other expenses

    total $2,701,387

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,531,112 · end of year $2,249,191

  • 2 · Savings and temporary cash investments

    beginning of year $5,838,653 · end of year $5,412,395

  • 4 · Accounts receivable

    beginning of year $7,914,040 · end of year $8,342,659

  • 8 · Inventories for sale or use

    beginning of year $2,007,342 · end of year $2,879,673

  • 9 · Prepaid expenses and deferred charges

    beginning of year $265,526 · end of year $260,614

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

    $165,079,172

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

    $45,632,580

  • 10c · Land, buildings and equipment, net

    beginning of year $113,600,976 · end of year $119,446,592

  • 13 · Investments: program-related

    beginning of year $26,380,138 · end of year $27,320,809

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,907,812 · end of year $8,506,415

  • 23 · Secured mortgages and notes payable

    beginning of year $10,000,794 · end of year $12,969,059

  • 24 · Unsecured notes and loans payable

    beginning of year $3,000,000 · end of year $4,500,000

  • 25 · Other liabilities

    beginning of year $5,501,518 · end of year $5,705,760

  • 29 · Capital stock, trust principal or current funds

    beginning of year $116,035 · end of year $118,375

  • 31 · Retained earnings, endowment or other funds

    beginning of year $133,011,628 · end of year $134,112,324

Mission and programs · 2022

Mission

TO PROVIDE DEPENDABLE ELECTRIC SERVICE AT THE LOWEST POSSIBLE COST.

  • THROUGH APPROXIMATELY 4,082 MILES OF DISTRIBUTION LINES, TALLAPOOSA RIVER ELECTRIC COOPERATIVE PROVIDED 582,730,200 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS MEMBERS.

  • COMPENSATION PROCESS - THE GOVERNING BODY EXAMINES STATE, REGIONAL, AND NATIONAL PAYROLL PAY SCALES AND COMPARES THEM TO THE EXISTING PAY RATES.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lewis Ward

    GENERAL MANA

    Total calculated
    $412,449
    From this org
    $265,440
    From related orgs
    $0
    Other
    $147,009
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $257,395
    Bonus
    $1,550
    Other
    $6,495
    Deferred
    $125,687
    Nontaxable benefits
    $21,322
    Filer's total
    $412,449

  • Parker Goodman

    MGR ENGINEER

    Total calculated
    $268,349
    From this org
    $162,291
    From related orgs
    $0
    Other
    $106,058
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,990
    Bonus
    $1,650
    Other
    $1,651
    Deferred
    $84,978
    Nontaxable benefits
    $21,080
    Filer's total
    $268,349

  • Wanda Brushwood

    MGR OF CONSU

    Total calculated
    $238,795
    From this org
    $137,884
    From related orgs
    $0
    Other
    $100,911
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $128,895
    Bonus
    $1,550
    Other
    $7,439
    Deferred
    $80,421
    Nontaxable benefits
    $20,490
    Filer's total
    $238,795

  • Kevin Hand

    MEMBER SERVI

    Total calculated
    $178,086
    From this org
    $116,575
    From related orgs
    $0
    Other
    $61,511
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $113,569
    Bonus
    $1,650
    Other
    $1,356
    Deferred
    $41,707
    Nontaxable benefits
    $19,804
    Filer's total
    $178,086

  • Cb Parker Jr

    PRESIDENT

    Total calculated
    $31,885
    From this org
    $31,885
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeff Dodgen

    TRUSTEE

    Total calculated
    $30,480
    From this org
    $30,480
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Bruce Boswell

    SEC/TREAS

    Total calculated
    $25,874
    From this org
    $25,874
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Ann Parkman

    TRUSTEE

    Total calculated
    $23,371
    From this org
    $23,371
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Phillip Bryant

    TRUSTEE

    Total calculated
    $19,894
    From this org
    $19,894
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • John Adcock

    VICE PRESIDE

    Total calculated
    $16,374
    From this org
    $16,374
    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 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
2022
Filed
29 April 2023
IRS schema version
2022v5.0
Source object
202321789349301602

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