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Nonprofiteer
← GULF COAST ELECTRIC COOP INC

Form 990 for tax year 2024

Filed by GULF COAST ELECTRIC COOP INC.

Totals

Total revenue
$76,127,715
Total expenses
$64,119,018
Contributions and grants received
$0
Grants paid
$28,432
Program service revenue
$71,395,853
Investment income
$4,663,727
Other revenue
$68,135
Total assets, end of year
$269,147,728
Total liabilities, end of year
$179,414,799
Net assets or fund balances, end of year
$89,732,929
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: SALE OF ELECTRICITY

    total $58,022,152 · related or exempt $58,022,152

  • 2b · Program service revenue: TYNDALL AFB CONTRACT REVENUE

    total $11,172,186 · related or exempt $11,172,186

  • 2c · Program service revenue: CAPITAL CREDITS

    total $1,609,906 · related or exempt $1,609,906

  • 2d · Program service revenue: POLE RENTAL

    total $591,609 · excluded $591,609

  • 3 · Investment income

    total $4,708,039 · related or exempt $4,708,039

  • 6a · Gross rents

    real property $3,372

  • 6b · Less rental expenses

    real property $1,138

  • 6c · Rental income or loss

    real property $2,234

  • 6d · Net rental income or loss

    total $2,234 · unrelated business $2,234

  • 7a · Gross sales of assets other than inventory

    other assets $104,301

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

    other assets $148,613

  • 7c · Gain or loss

    other assets -$44,312

  • 7d · Net gain or loss

    total -$44,312 · related or exempt -$44,312

  • 10a · Gross sales of inventory

    $163,537

  • 10b · Cost of goods sold

    $97,636

  • 10c · Net income from sales of inventory

    total $65,901 · related or exempt $65,901

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $9,432

  • 2 · Grants to domestic individuals

    total $19,000

  • 4 · Benefits paid to or for members

    total $487,411

  • 5 · Compensation of officers, directors and key employees

    total $911,342

  • 7 · Other salaries and wages

    total $1,042,163

  • 20 · Interest

    total $6,263,525

  • 22 · Depreciation, depletion and amortization

    total $7,451,206

  • 24a · Other expenses: COST OF POWER

    total $33,481,577

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $5,272,576

  • 24c · Other expenses: ADMINISTRATION & GENERA

    total $3,943,488

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $3,189,261

  • 24e · All other expenses

    total $2,048,037

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $711,953 · end of year $4,002,691

  • 2 · Savings and temporary cash investments

    beginning of year $7,568,011 · end of year $697,962

  • 4 · Accounts receivable

    beginning of year $19,657,690 · end of year $31,351,225

  • 8 · Inventories for sale or use

    beginning of year $13,161,533 · end of year $22,341,301

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,192,540 · end of year $2,262,338

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

    $236,549,258

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

    $54,916,890

  • 10c · Land, buildings and equipment, net

    beginning of year $171,867,452 · end of year $181,632,368

  • 11 · Investments: publicly traded securities

    beginning of year $162,012 · end of year $164,754

  • 12 · Investments: other securities

    beginning of year $24,000 · end of year $24,000

  • 13 · Investments: program-related

    beginning of year $28,993,442 · end of year $26,671,089

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,046,759 · end of year $10,827,936

  • 23 · Secured mortgages and notes payable

    beginning of year $133,243,980 · end of year $140,540,603

  • 25 · Other liabilities

    beginning of year $26,407,707 · end of year $28,046,260

  • 29 · Capital stock, trust principal or current funds

    beginning of year $93,315 · end of year $95,025

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

    beginning of year $18,752,274 · end of year $22,538,317

  • 31 · Retained earnings, endowment or other funds

    beginning of year $58,794,598 · end of year $67,099,587

Mission and programs · 2024

Mission

PROVIDING ELECTRIC SERVICES TO MEMBERS.

Activities or mission (Part I)

PROVIDING ELECTRIC SALES TO MEMBERS.

  • PROVIDE ELECTRIC SERVICES TO MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Jimmy F Black Jr

    TREASURER

    Total calculated
    $17,800
    From this org
    $17,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Donald C Goodson

    BOARD DIRECTOR

    Total calculated
    $15,700
    From this org
    $15,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Betty J Moore

    VICE PRESIDENT

    Total calculated
    $13,950
    From this org
    $13,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Douglas C Birmingham

    BOARD DIRECTOR

    Total calculated
    $15,700
    From this org
    $15,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Edward W Jones

    BOARD DIRECTOR

    Total calculated
    $19,850
    From this org
    $19,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Rupert L Brown

    BOARD DIRECTOR

    Total calculated
    $18,850
    From this org
    $18,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Dwight Van Lierop

    PRESIDENT

    Total calculated
    $19,900
    From this org
    $19,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Robert L Byrd

    BOARD DIRECTOR

    Total calculated
    $13,950
    From this org
    $13,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Kinneth Daniels

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • John M Bartley Jr

    CEO

    Total calculated
    $449,293
    From this org
    $382,417
    From related orgs
    $0
    Other
    $66,876
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $316,324
    Bonus
    $56,661
    Other
    $9,432
    Deferred
    $61,635
    Nontaxable benefits
    $5,241
    Filer's total
    $449,293

  • Leonard Hinson

    COO

    Total calculated
    $326,350
    From this org
    $315,861
    From related orgs
    $0
    Other
    $10,489
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $242,445
    Bonus
    $14,654
    Other
    $58,762
    Deferred
    $9,698
    Nontaxable benefits
    $791
    Filer's total
    $326,350

  • Justin Barnes

    VP OF MEMBER SERVICE

    Total calculated
    $215,663
    From this org
    $174,305
    From related orgs
    $0
    Other
    $41,358
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $149,157
    Bonus
    $13,803
    Other
    $11,345
    Deferred
    $34,876
    Nontaxable benefits
    $6,482
    Filer's total
    $215,663

  • Chad Creamer

    FOREMAN OF CONSTRUCTION

    Total calculated
    $160,552
    From this org
    $128,570
    From related orgs
    $0
    Other
    $31,982
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,389
    Bonus
    $541
    Other
    $640
    Deferred
    $26,500
    Nontaxable benefits
    $5,482
    Filer's total
    $160,552

  • Timothy Wade

    OPERATIONS SUPERVISR

    Total calculated
    $144,079
    From this org
    $128,189
    From related orgs
    $0
    Other
    $15,890
    Hours/week
    40

  • Kristin Douglas

    VP OF MARKETING

    Total calculated
    $194,579
    From this org
    $138,135
    From related orgs
    $0
    Other
    $56,444
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,153
    Bonus
    $14,920
    Other
    $62
    Deferred
    $51,187
    Nontaxable benefits
    $5,257
    Filer's total
    $194,579

  • William Coatney

    INSPECTOR

    Total calculated
    $168,695
    From this org
    $134,067
    From related orgs
    $0
    Other
    $34,628
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,903
    Bonus
    $541
    Other
    $3,623
    Deferred
    $26,646
    Nontaxable benefits
    $7,982
    Filer's total
    $168,695

  • Michael Barfield

    TRAINING COORDINATOR

    Total calculated
    $158,594
    From this org
    $131,337
    From related orgs
    $0
    Other
    $27,257
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,820
    Bonus
    $541
    Other
    $976
    Deferred
    $21,775
    Nontaxable benefits
    $5,482
    Filer's total
    $158,594

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 · Form 990 of other organizations
  • 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 II (C)
THE AMOUNTS REPORTED ON SCHEDULE J, PART II(C) INCLUDE THE CHANGE IN THE ACTUARIAL VALUE OF THE NRECA RETIREMENT SECURITY (RS) DEFINED BENEFIT PENSION PLAN AS COMPUTED BY THE PLAN'S ACTUARIES AND INCLUDES THE AMOUNT OF 401(K) EMPLOYER CONTRIBUTIONS. THIS IS NOT REPRESENTATIVE OF AMOUNTS PAID BY THE COOPERATIVE ON THE EMPLOYEE'S BEHALF.

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
6 October 2025
IRS schema version
2024v5.2
Source object
202512879349300026

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