Form 990 for tax year 2023
Filed by CHEROKEE COUNTY ELECTRIC CO-OP ASSOCIATION.
Totals
- Total revenue
- $66,471,440
- Total expenses
- $66,471,440
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $65,982,071
- Investment income
- $124,007
- Other revenue
- $365,362
- Total assets, end of year
- $180,003,839
- Total liabilities, end of year
- $125,957,884
- Net assets or fund balances, end of year
- $54,045,955
- Program services expenses (Part IX)
- $66,471,440
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $66,471,440
Program services were 100.0% 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 ENERGY
total $60,731,613 · related or exempt $60,731,613
-
2b · Program service revenue: FIBER OPTIC REVENUE
total $3,462,186 · related or exempt $3,462,186
-
2c · Program service revenue: PATRONAGE CAPITAL
total $1,788,272 · related or exempt $1,788,272
-
3 · Investment income
total $26,255 · excluded $26,255
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $280,420
-
6c · Rental income or loss
real property $280,420
-
6d · Net rental income or loss
total $280,420 · excluded $280,420
-
7a · Gross sales of assets other than inventory
other assets $97,752
-
7c · Gain or loss
other assets $97,752
-
7d · Net gain or loss
total $97,752 · excluded $97,752
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISCELLANEOUS INCOME
total $84,942 · related or exempt $84,942
-
11e · Other revenue, total
$84,942
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $4,424,000 · program services $4,424,000
-
5 · Compensation of officers, directors and key employees
total $553,772 · program services $553,772
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $7,578 · program services $7,578
-
13 · Office expenses
total $623,177 · program services $623,177
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $223,283 · program services $223,283
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $148,509 · program services $148,509
-
20 · Interest
total $4,012,952 · program services $4,012,952
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $5,072,246 · program services $5,072,246
-
23 · Insurance
total $44,395 · program services $44,395
-
24a · Other expenses: COST OF PURCHASED POWER
total $36,929,673 · program services $36,929,673
-
24b · Other expenses: DISTRIBUTION EXPENSE-MAINT.
total $4,816,384 · program services $4,816,384
-
24c · Other expenses: DISTRIBUTIONS EXPENSE-OPERATIO
total $3,241,845 · program services $3,241,845
-
24d · Other expenses: ADMINISTRATIVE AND GENERAL EXP
total $2,937,707 · program services $2,937,707
-
24e · All other expenses
total $3,435,919 · program services $3,435,919
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $378,715 · end of year $913,266
-
2 · Savings and temporary cash investments
beginning of year $410,693 · end of year $421,587
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $7,277,184 · end of year $8,231,328
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $3,000,764 · end of year $4,489,260
-
9 · Prepaid expenses and deferred charges
beginning of year $7,259,089 · end of year $5,142,467
-
10a · Land, buildings and equipment: cost or other basis
$197,115,576
-
10b · Land, buildings and equipment: accumulated depreciation
$58,140,604
-
10c · Land, buildings and equipment, net
beginning of year $110,180,448 · end of year $138,974,972
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $20,363,596 · end of year $21,830,959
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $10,470,951 · end of year $9,483,494
-
23 · Secured mortgages and notes payable
beginning of year $87,559,453 · end of year $115,183,840
-
25 · Other liabilities
beginning of year $1,218,130 · end of year $1,290,550
-
31 · Retained earnings, endowment or other funds
beginning of year $49,621,955 · end of year $54,045,955
Mission and programs · 2023
Mission
TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
-
SALE OF ELECTRIC POWER TO APPROXIMATELY 17,839 MEMBERS IN 4 COUNTIES. MEMBERS WERE PROVIDED POWER, ON A COOPERATIVE BASIS, THROUGH APPROXIMATELY 23,408 CONNECTED METERS.
Expenses $66,471,440 · Revenue $65,982,071
As filed on the 2023 return.
Listed in Part VII
-
Greg JonesGREG JONES
GENERAL MANAGER
- Total calculated
- $351,269
- From this org
- $208,632
- From related orgs
- $0
- Other
- $142,637
- Hours/week
- 42.5
Schedule J breakdown matched by us
- Base
- $181,243
- Bonus
- $500
- Other
- $26,889
- Deferred
- $122,575
- Nontaxable benefits
- $20,062
- Filer's total
- $351,269
-
Bart BauerBART BAUER
ASSISTANT MANAGER
- Total calculated
- $280,662
- From this org
- $164,298
- From related orgs
- $0
- Other
- $116,364
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $163,798
- Bonus
- $500
- Other
- not reported
- Deferred
- $96,528
- Nontaxable benefits
- $19,836
- Filer's total
- $280,662
-
Christopher StroudCHRISTOPHER STROUD
CREW FOREMAN
- Total calculated
- $203,258
- From this org
- $138,140
- From related orgs
- $0
- Other
- $65,118
- Hours/week
- 59
Schedule J breakdown matched by us
- Base
- $137,640
- Bonus
- $500
- Other
- not reported
- Deferred
- $45,640
- Nontaxable benefits
- $19,478
- Filer's total
- $203,258
-
Kenneth HicksKENNETH HICKS
ACCT. MANAGER
- Total calculated
- $202,502
- From this org
- $127,689
- From related orgs
- $0
- Other
- $74,813
- Hours/week
- 42.5
Schedule J breakdown matched by us
- Base
- $127,189
- Bonus
- $500
- Other
- not reported
- Deferred
- $55,135
- Nontaxable benefits
- $19,678
- Filer's total
- $202,502
-
Andrew OwensANDREW OWENS
DIRECT OF BROADBAN
- Total calculated
- $185,356
- From this org
- $139,158
- From related orgs
- $0
- Other
- $46,198
- Hours/week
- 45.5
Schedule J breakdown matched by us
- Base
- $138,658
- Bonus
- $500
- Other
- not reported
- Deferred
- $25,930
- Nontaxable benefits
- $20,268
- Filer's total
- $185,356
-
Joseph YoungJOSEPH YOUNG
DIRECT OF ENGINEER
- Total calculated
- $185,322
- From this org
- $139,672
- From related orgs
- $0
- Other
- $45,650
- Hours/week
- 49.5
Schedule J breakdown matched by us
- Base
- $139,172
- Bonus
- $500
- Other
- not reported
- Deferred
- $26,284
- Nontaxable benefits
- $19,366
- Filer's total
- $185,322
-
Kody StanleyKODY STANLEY
SERVICEMAN
- Total calculated
- $175,595
- From this org
- $137,945
- From related orgs
- $0
- Other
- $37,650
- Hours/week
- 60.25
Schedule J breakdown matched by us
- Base
- $137,445
- Bonus
- $500
- Other
- not reported
- Deferred
- $18,230
- Nontaxable benefits
- $19,420
- Filer's total
- $175,595
-
Kyle GriffithKYLE GRIFFITH
President
- Total calculated
- $30,210
- From this org
- $30,210
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1.38
-
Wes BarronWES BARRON
Director
- Total calculated
- $29,723
- From this org
- $29,723
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Jim Tarrant JrJIM TARRANT JR
Vice President
- Total calculated
- $29,034
- From this org
- $29,034
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.25
-
Keith YougbloodKEITH YOUGBLOOD
SECRETARY/TREAS
- Total calculated
- $21,480
- From this org
- $21,480
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.13
-
John AlexanderJOHN ALEXANDER
Director
- Total calculated
- $16,232
- From this org
- $16,232
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.5
-
Bruce BradleyBRUCE BRADLEY
Director
- Total calculated
- $7,028
- From this org
- $7,028
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1.13
-
Rob Trimble IIIROB TRIMBLE III
Director
- Total calculated
- $5,432
- From this org
- $5,432
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1.5
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 · Written employment contract
- 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
- 2023
- Filed
- 15 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202442979349300629
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