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Nonprofiteer
← FANNIN CO ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by FANNIN CO ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$35,959,115
Total expenses
$33,886,170
Contributions and grants received
$0
Grants paid
$2,622
Program service revenue
$33,862,980
Investment income
$2,059,125
Other revenue
$37,010
Total assets, end of year
$96,249,569
Total liabilities, end of year
$65,300,153
Net assets or fund balances, end of year
$30,949,416
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: SALES OF ELECTRICITY

    total $32,434,007 · related or exempt $32,434,007

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $895,348 · related or exempt $895,348

  • 2c · Program service revenue: SERVICE FEES

    total $350,187 · related or exempt $350,187

  • 2d · Program service revenue: WHOLESALE TRANSMISSION ACCESS

    total $183,438 · related or exempt $183,438

  • 3 · Investment income

    total $326,132 · excluded $326,132

  • 7a · Gross sales of assets other than inventory

    other assets $1,732,993

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

    other assets $0

  • 7c · Gain or loss

    other assets $1,732,993

  • 7d · Net gain or loss

    total $1,732,993 · related or exempt $1,732,993

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $23,192 · excluded $23,192

  • 11b · Other revenue: BOND SECURITIZATION P'SHIP INCOME

    total $13,418 · related or exempt $13,418

  • 11c · Other revenue: MISCELLANEOUS REVENUE

    total $400 · related or exempt $400

  • 11e · Other revenue, total

    $37,010

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,622

  • 4 · Benefits paid to or for members

    total $292,260

  • 5 · Compensation of officers, directors and key employees

    total $1,628,006

  • 7 · Other salaries and wages

    total $1,932,954

  • 8 · Pension plan contributions

    total $415,204

  • 9 · Other employee benefits

    total $867,375

  • 10 · Payroll taxes

    total $225,539

  • 20 · Interest

    total $2,498,865

  • 22 · Depreciation, depletion and amortization

    total $3,003,140

  • 24a · Other expenses: PURCHASED POWER

    total $19,038,406

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $2,707,076

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $849,516

  • 24d · Other expenses: CONSUMER EXPENSE

    total $364,436

  • 24e · All other expenses

    total $60,771

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,169,642 · end of year $1,094,218

  • 2 · Savings and temporary cash investments

    beginning of year $290,508 · end of year $6,069,666

  • 4 · Accounts receivable

    beginning of year $863,432 · end of year $682,657

  • 8 · Inventories for sale or use

    beginning of year $282,075 · end of year $162,484

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,760,925 · end of year $1,271,349

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

    $100,667,739

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

    $24,923,338

  • 10c · Land, buildings and equipment, net

    beginning of year $66,333,892 · end of year $75,744,401

  • 13 · Investments: program-related

    beginning of year $8,586,689 · end of year $9,418,019

  • 15 · Other assets

    beginning of year $1,767,738 · end of year $1,806,775

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,321,760 · end of year $5,270,638

  • 21 · Escrow or custodial account liability

    beginning of year $60,638 · end of year $32,868

  • 23 · Secured mortgages and notes payable

    beginning of year $40,112,505 · end of year $50,994,052

  • 25 · Other liabilities

    beginning of year $8,383,182 · end of year $9,002,595

  • 29 · Capital stock, trust principal or current funds

    beginning of year $84,000 · end of year $85,555

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,092,816 · end of year $30,863,861

Mission and programs · 2024

Mission

NONE

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 12,172 ACTIVE SERVICES AT YEAR END.

As filed on the 2024 return.

Listed in Part VII

  • Rodney Brent

    VICE-PRESIDENT

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Stephen Collida

    PRESIDENT

    Total calculated
    $6,500
    From this org
    $6,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Scott Gibbs

    DIRECTOR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.7

  • Todd Morison April-Dec

    DIRECTOR

    Total calculated
    $4,700
    From this org
    $4,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.4

  • John Skotnik

    DIRECTOR

    Total calculated
    $6,500
    From this org
    $6,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.7

  • Alfred Scott

    DIRECTOR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.7

  • J Seth Mahler

    SECRETARY

    Total calculated
    $6,400
    From this org
    $6,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Robert Milton Jan-Feb

    DIRECTOR

    Total calculated
    $1,100
    From this org
    $1,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • John Ed Shinpaugh

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $399,200
    From this org
    $283,272
    From related orgs
    $0
    Other
    $115,928
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $251,431
    Bonus
    $520
    Other
    $31,321
    Deferred
    $87,158
    Nontaxable benefits
    $28,770
    Filer's total
    $399,200

  • Karen Rintelmann

    CHIEF FINANCIAL OFFICER

    Total calculated
    $309,244
    From this org
    $224,733
    From related orgs
    $0
    Other
    $84,511
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $203,902
    Bonus
    $400
    Other
    $20,431
    Deferred
    $67,162
    Nontaxable benefits
    $17,349
    Filer's total
    $309,244

  • Wesley Hicks

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $121,641
    From this org
    $88,304
    From related orgs
    $0
    Other
    $33,337
    Hours/week
    45

  • Darrell Williams

    BUSINESS DEVELOPMENT MANAGER

    Total calculated
    $244,688
    From this org
    $191,510
    From related orgs
    $0
    Other
    $53,178
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,742
    Bonus
    $320
    Other
    $7,448
    Deferred
    $22,708
    Nontaxable benefits
    $30,470
    Filer's total
    $244,688

  • Tim Kidwell

    ASSISTANT MANAGER

    Total calculated
    $253,511
    From this org
    $176,476
    From related orgs
    $0
    Other
    $77,035
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,373
    Bonus
    $480
    Other
    $16,623
    Deferred
    $42,765
    Nontaxable benefits
    $34,270
    Filer's total
    $253,511

  • Barry Murchison

    ENGINEER MANAGER

    Total calculated
    $254,722
    From this org
    $156,565
    From related orgs
    $0
    Other
    $98,157
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,775
    Bonus
    $440
    Other
    $9,350
    Deferred
    $65,618
    Nontaxable benefits
    $32,539
    Filer's total
    $254,722

  • Rodney Gammons

    LINE SUPERINTENDENT

    Total calculated
    $245,835
    From this org
    $141,205
    From related orgs
    $0
    Other
    $104,630
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $133,082
    Bonus
    $960
    Other
    $7,163
    Deferred
    $72,860
    Nontaxable benefits
    $31,770
    Filer's total
    $245,835

  • Kaylen Fogelberg

    1ST CLASS LINEMAN

    Total calculated
    $178,920
    From this org
    $134,913
    From related orgs
    $0
    Other
    $44,007
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $134,144
    Bonus
    $540
    Other
    $229
    Deferred
    $12,045
    Nontaxable benefits
    $31,962
    Filer's total
    $178,920

  • Cory Patton

    LINE FOREMAN

    Total calculated
    $185,309
    From this org
    $127,690
    From related orgs
    $0
    Other
    $57,619
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $126,438
    Bonus
    $760
    Other
    $492
    Deferred
    $24,057
    Nontaxable benefits
    $33,562
    Filer's total
    $185,309

  • Joel Jones

    1ST CLASS LINEMAN

    Total calculated
    $167,752
    From this org
    $122,153
    From related orgs
    $0
    Other
    $45,599
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $121,283
    Bonus
    $460
    Other
    $410
    Deferred
    $13,637
    Nontaxable benefits
    $31,962
    Filer's total
    $167,752

  • Kristopher Gammons

    LINE FOREMAN

    Total calculated
    $168,648
    From this org
    $118,999
    From related orgs
    $0
    Other
    $49,649
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $118,033
    Bonus
    $540
    Other
    $426
    Deferred
    $15,592
    Nontaxable benefits
    $34,057
    Filer's total
    $168,648

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 committee
  • 3 · Form 990 of other organizations
  • 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

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. JOHN ED SHINPAUGH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 77,349 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,809 TOTAL REPORTED IN COLUMN C $ 87,158 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (77,349) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 48,351 EXPENSE TO THE COOPERATIVE $ 58,160 KAREN RINTELMANN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,238 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,924 TOTAL REPORTED IN COLUMN C $ 67,162 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,238) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,244 EXPENSE TO THE COOPERATIVE $ 47,168 BARRY MURCHISON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,664 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,954 TOTAL REPORTED IN COLUMN C $ 65,618 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,664) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,530 EXPENSE TO THE COOPERATIVE $ 35,484 TIM KIDWELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,238 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,527 TOTAL REPORTED IN COLUMN C $ 42,765 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,238) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,372 EXPENSE TO THE COOPERATIVE $ 38,899 RODNEY GAMMONS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 67,657 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,203 TOTAL REPORTED IN COLUMN C $ 72,860 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (67,657) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,807 EXPENSE TO THE COOPERATIVE $ 31,010 DARRELL WILLIAMS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 15,358 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,350 TOTAL REPORTED IN COLUMN C $ 22,708 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (15,358) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,450 EXPENSE TO THE COOPERATIVE $ 43,800 CORY PATTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,449 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,608 TOTAL REPORTED IN COLUMN C $ 24,057 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,449) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,829 EXPENSE TO THE COOPERATIVE $ 27,437 KAYLEN FOGELBERG: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,178 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,867 TOTAL REPORTED IN COLUMN C $ 12,045 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (8,178) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,156 EXPENSE TO THE COOPERATIVE $ 23,023 KRISTOPHER GAMMONS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,136 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,456 TOTAL REPORTED IN COLUMN C $ 15,592 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,136) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,075 EXPENSE TO THE COOPERATIVE $ 26,531 JOEL JONES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,763 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,874 TOTAL REPORTED IN COLUMN C $ 13,637 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,763) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,413 EXPENSE TO THE COOPERATIVE $ 23,287

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
16 November 2025
IRS schema version
2024v5.2
Source object
202503219349304735

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