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Nonprofiteer
← POWELL VALLEY ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by POWELL VALLEY ELECTRIC COOPERATIVE.

Totals

Total revenue
$78,219,772
Total expenses
$74,455,002
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$75,965,454
Investment income
$2,237,766
Other revenue
$16,552
Total assets, end of year
$117,417,626
Total liabilities, end of year
$29,599,154
Net assets or fund balances, end of year
$87,818,472
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: ELECTRIC SALES REVENUE

    total $70,399,496 · related or exempt $70,399,496

  • 2b · Program service revenue: MISCEALLANEOUS ELECTRIC REVENUE

    total $2,889,126 · related or exempt $2,889,126

  • 2c · Program service revenue: FIBER BUILDOUT

    total $2,676,832 · related or exempt $2,676,832

  • 3 · Investment income

    total $2,237,766 · excluded $2,237,766

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $16,552 · related or exempt $16,552

  • 11e · Other revenue, total

    $16,552

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $191,666

  • 7 · Other salaries and wages

    total $6,108,575

  • 9 · Other employee benefits

    total $2,606

  • 11a · Fees: management

    total $69,604

  • 11b · Fees: legal

    total $25,240

  • 11c · Fees: accounting

    total $27,600

  • 11g · Fees: other

    total $15,283

  • 12 · Advertising and promotion

    total $200,672

  • 13 · Office expenses

    total $367,364

  • 16 · Occupancy

    total $45,788

  • 17 · Travel

    total $2,281

  • 19 · Conferences, conventions and meetings

    total $57,487

  • 20 · Interest

    total $428,373

  • 22 · Depreciation, depletion and amortization

    total $4,629,028

  • 23 · Insurance

    total $233,813

  • 24a · Other expenses: PURCHASED POWER

    total $56,750,780

  • 24b · Other expenses: OPERATING EXPENSE

    total $3,711,728

  • 24c · Other expenses: BILLING

    total $1,039,728

  • 24d · Other expenses: ADMINISTRATIVE

    total $214,976

  • 24e · All other expenses

    total $332,410

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,900 · end of year $2,900

  • 2 · Savings and temporary cash investments

    beginning of year $5,405,453 · end of year $6,787,240

  • 4 · Accounts receivable

    beginning of year $25,389,354 · end of year $31,651,408

  • 7 · Other notes and loans receivable

    beginning of year $2,680,022 · end of year $2,505,719

  • 8 · Inventories for sale or use

    beginning of year $7,257,289 · end of year $4,818,297

  • 9 · Prepaid expenses and deferred charges

    beginning of year $433,483 · end of year $648,222

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

    $142,618,449

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

    $77,124,073

  • 10c · Land, buildings and equipment, net

    beginning of year $60,787,408 · end of year $65,494,376

  • 11 · Investments: publicly traded securities

    beginning of year $1,075,290 · end of year $1,075,290

  • 15 · Other assets

    beginning of year $9,424,525 · end of year $4,434,174

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,665,380 · end of year $13,571,165

  • 19 · Deferred revenue

    beginning of year $7,416,098 · end of year $9,173,120

  • 23 · Secured mortgages and notes payable

    beginning of year $5,215,381 · end of year $6,755,118

  • 25 · Other liabilities

    beginning of year $180,992 · end of year $99,751

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $125,975 · end of year $127,240

  • 31 · Retained earnings, endowment or other funds

    beginning of year $84,851,898 · end of year $87,691,232

Mission and programs · 2022

Mission

DISTRIBUTION OF TVA-GENERATED POWER.

  • ELECTRIC COOPERATIVE IN CONJUNCTION WITH RUS PROGRAMS, DISTRIBUTION OF TVA GENERATED POWER.

As filed on the 2022 return.

Listed in Part VII

  • Michael Shockley

    BOARD DIRECTOR

    Total calculated
    $6,801
    From this org
    $1,200
    From related orgs
    $0
    Other
    $5,601
    Hours/week
    1

  • Bill Surber

    BOARD DIRECTOR

    Total calculated
    $16,440
    From this org
    $900
    From related orgs
    $0
    Other
    $15,540
    Hours/week
    2

  • Tracey Sharp

    BOARD DIRECTOR

    Total calculated
    $12,763
    From this org
    $1,950
    From related orgs
    $0
    Other
    $10,813
    Hours/week
    2

  • J Allen Parkey

    BOARD DIRECTOR

    Total calculated
    $6,651
    From this org
    $1,050
    From related orgs
    $0
    Other
    $5,601
    Hours/week
    2

  • Gary L Russell

    BOARD DIRECTOR

    Total calculated
    $6,501
    From this org
    $900
    From related orgs
    $0
    Other
    $5,601
    Hours/week
    1

  • Lena Short

    BOARD DIRECTOR

    Total calculated
    $6,801
    From this org
    $1,200
    From related orgs
    $0
    Other
    $5,601
    Hours/week
    2

  • Roger A Ball

    BOARD PRESIDENT

    Total calculated
    $6,501
    From this org
    $1,050
    From related orgs
    $0
    Other
    $5,451
    Hours/week
    4

  • David T Kindle

    BOARD VICE PRESIDENT

    Total calculated
    $12,013
    From this org
    $1,200
    From related orgs
    $0
    Other
    $10,813
    Hours/week
    2

  • Judy Robertson

    BOARD SECRETARY/TREASURER

    Total calculated
    $6,976
    From this org
    $1,425
    From related orgs
    $0
    Other
    $5,551
    Hours/week
    2

  • Michael Coppock

    GENERAL MANAGER

    Total calculated
    $197,513
    From this org
    $180,791
    From related orgs
    $0
    Other
    $16,722
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $180,791
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,722
    Filer's total
    $197,513

  • Ronnie L Williams

    AREA SUPERVISOR

    Total calculated
    $256,716
    From this org
    $244,897
    From related orgs
    $0
    Other
    $11,819
    Hours/week
    37

    Schedule J breakdown matched by us

    Base
    $244,897
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,819
    Filer's total
    $256,716

  • Bobby D Johnson

    FIRST CLASS LINEMAN

    Total calculated
    $152,998
    From this org
    $136,923
    From related orgs
    $0
    Other
    $16,075
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $136,923
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,075
    Filer's total
    $152,998

  • Charles S Goodin

    ASSISTANT GENERAL MANAGER

    Total calculated
    $158,193
    From this org
    $146,373
    From related orgs
    $0
    Other
    $11,820
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,373
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,820
    Filer's total
    $158,193

  • Tracy Odom

    FIRST CLASS LINEMAN

    Total calculated
    $141,452
    From this org
    $130,125
    From related orgs
    $0
    Other
    $11,327
    Hours/week
    50

  • Travis Tolliver

    DIRECTOR OF OPERATIONS

    Total calculated
    $151,195
    From this org
    $134,858
    From related orgs
    $0
    Other
    $16,337
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,858
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,337
    Filer's total
    $151,195

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.

Provenance

Return type
form_990
Tax year
2022
Filed
11 December 2023
IRS schema version
2022v5.0
Source object
202343499349301209

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