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Nonprofiteer
← FLEMING-MASON ENERGY COOPERATIVE INC

Form 990 for tax year 2022

Filed by FLEMING-MASON ENERGY COOPERATIVE INC.

Totals

Total revenue
$98,170,225
Total expenses
$98,170,225
Contributions and grants received
$0
Grants paid
$10,000
Program service revenue
$94,358,603
Investment income
$46,119
Other revenue
$3,765,503
Total assets, end of year
$148,749,248
Total liabilities, end of year
$70,744,158
Net assets or fund balances, end of year
$78,005,090
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$98,170,225

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: ELECTRIC SERVICE

    total $94,358,603 · related or exempt $94,358,603

  • 3 · Investment income

    total $46,119 · excluded $46,119

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $2,991,661 · related or exempt $2,991,661

  • 11b · Other revenue: JOINT USE POLE ATTACHMENT

    total $520,694 · excluded $520,694

  • 11c · Other revenue: CAPITAL CREDITS ASOOC ORG

    total $215,278 · related or exempt $215,278

  • 11d · All other revenue

    total $37,870 · excluded $37,870

  • 11e · Other revenue, total

    $3,765,503

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,000

  • 4 · Benefits paid to or for members

    total $3,292,751

  • 5 · Compensation of officers, directors and key employees

    total $257,041

  • 7 · Other salaries and wages

    total $4,093,711

  • 8 · Pension plan contributions

    total $641,285

  • 9 · Other employee benefits

    total $830,177

  • 10 · Payroll taxes

    total $313,155

  • 11b · Fees: legal

    total $31,151

  • 11c · Fees: accounting

    total $17,225

  • 13 · Office expenses

    total $239,606

  • 20 · Interest

    total $1,189,399

  • 22 · Depreciation, depletion and amortization

    total $4,183,689

  • 23 · Insurance

    total $229,060

  • 24a · Other expenses: COST OF POWER

    total $80,627,507

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $3,720,990

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $1,828,772

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $1,611,964

  • 24e · All other expenses

    total -$4,947,258

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $597,740 · end of year $1,118,466

  • 4 · Accounts receivable

    beginning of year $10,600,547 · end of year $10,176,692

  • 8 · Inventories for sale or use

    beginning of year $490,711 · end of year $691,063

  • 9 · Prepaid expenses and deferred charges

    beginning of year $220,449 · end of year $1,566,485

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

    $125,011,132

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

    $48,360,805

  • 10c · Land, buildings and equipment, net

    beginning of year $73,782,573 · end of year $76,650,327

  • 13 · Investments: program-related

    beginning of year $56,123,626 · end of year $57,942,657

  • 15 · Other assets

    beginning of year $852,037 · end of year $603,558

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,404,470 · end of year $8,616,208

  • 23 · Secured mortgages and notes payable

    beginning of year $46,216,962 · end of year $45,745,650

  • 25 · Other liabilities

    beginning of year $14,878,159 · end of year $16,382,300

  • 29 · Capital stock, trust principal or current funds

    beginning of year $249,880 · end of year $254,935

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

    beginning of year -$2,626,727 · end of year -$784,188

  • 31 · Retained earnings, endowment or other funds

    beginning of year $75,544,939 · end of year $78,534,343

Mission and programs · 2022

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 25,475 CONSUMERS MONTHLY.

Activities or mission (Part I)

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF 25,475.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 25,475 CONSUMERS MONTHLY.

    Expenses $98,170,225 · Revenue $97,565,542

As filed on the 2022 return.

Listed in Part VII

  • Tom Saunders

    CHAIRMAN

    Total calculated
    $17,206
    From this org
    $17,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Sandina Gooding

    SEC/TREASURER

    Total calculated
    $16,206
    From this org
    $16,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Timothy S Eldridge

    DIRECTOR

    Total calculated
    $17,206
    From this org
    $17,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Rick Hord

    DIRECTOR

    Total calculated
    $16,206
    From this org
    $16,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • John Roe

    VICE-CHAIR

    Total calculated
    $19,206
    From this org
    $19,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Regina Rose

    DIRECTOR

    Total calculated
    $16,206
    From this org
    $16,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Shane Smoot

    DIRECTOR

    Total calculated
    $16,206
    From this org
    $16,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brandon Hunt

    CEO

    Total calculated
    $189,229
    From this org
    $138,599
    From related orgs
    $0
    Other
    $50,630
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,599
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $50,630
    Filer's total
    $189,229

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

None.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FM UTILITY RESOURCES LLC

    UTILITY SERVICES · KY · income $0 · assets $237,541

Provenance

Return type
form_990
Tax year
2022
Filed
8 September 2023
IRS schema version
2022v5.0
Source object
202342559349300209

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