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Nonprofiteer
← COMMUNITY ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by COMMUNITY ELECTRIC COOPERATIVE.

Totals

Total revenue
$32,018,814
Total expenses
$30,509,073
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$28,827,996
Investment income
$30,520
Other revenue
$3,160,298
Total assets, end of year
$60,458,126
Total liabilities, end of year
$29,973,564
Net assets or fund balances, end of year
$30,484,562
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: SALE OF ELECTRICITY

    total $28,060,037 · related or exempt $28,060,037

  • 2b · Program service revenue: CONT IN AID CONSTRUCT

    total $701,000 · related or exempt $701,000

  • 2c · Program service revenue: CASH PATRONAGE RECEIVED

    total $66,959 · related or exempt $66,959

  • 3 · Investment income

    total $30,520 · excluded $30,520

  • 6a · Gross rents

    personal property $154,091

  • 6c · Rental income or loss

    personal property $154,091

  • 6d · Net rental income or loss

    total $154,091 · excluded $154,091

  • 11a · Other revenue: ADMIN. SERVICES

    total $2,352,977 · unrelated business $2,352,977

  • 11b · Other revenue: INCOME FROM EQUITY INV.

    total $627,548 · related or exempt $627,548

  • 11c · Other revenue: ELECTRIC MAINT. CONTRACT

    total $15,275 · unrelated business $15,275

  • 11d · All other revenue

    total $10,407 · related or exempt $9,555 · unrelated business $852

  • 11e · Other revenue, total

    $3,006,207

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,852,017

  • 7 · Other salaries and wages

    total $3,210,666

  • 8 · Pension plan contributions

    total $560,699

  • 10 · Payroll taxes

    total $376,433

  • 11b · Fees: legal

    total $34,550

  • 17 · Travel

    total $869,189

  • 19 · Conferences, conventions and meetings

    total $57,407

  • 20 · Interest

    total $1,079,937

  • 22 · Depreciation, depletion and amortization

    total $2,350,002

  • 24a · Other expenses: COST OF POWER

    total $19,675,361

  • 24b · Other expenses: DIST. OPERATION

    total $1,230,384

  • 24c · Other expenses: DIST. MAINTENANCE

    total $983,683

  • 24d · Other expenses: GENERAL AND ADMIN.

    total $605,552

  • 24e · All other expenses

    total -$2,376,807

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $443,215 · end of year $376,005

  • 2 · Savings and temporary cash investments

    beginning of year $190,888 · end of year $363,064

  • 4 · Accounts receivable

    beginning of year $3,265,194 · end of year $4,225,504

  • 8 · Inventories for sale or use

    beginning of year $3,655,101 · end of year $3,113,615

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,043,806 · end of year $991,787

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

    $67,737,239

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

    $33,285,104

  • 10c · Land, buildings and equipment, net

    beginning of year $33,717,582 · end of year $34,452,135

  • 12 · Investments: other securities

    beginning of year $3,517,856 · end of year $3,695,404

  • 13 · Investments: program-related

    beginning of year $12,339,378 · end of year $12,494,748

  • 15 · Other assets

    beginning of year $1,202,096 · end of year $745,864

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,964,660 · end of year $3,240,948

  • 23 · Secured mortgages and notes payable

    beginning of year $24,159,890 · end of year $24,000,333

  • 25 · Other liabilities

    beginning of year $2,523,966 · end of year $2,732,283

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,726,600 · end of year $30,484,562

Mission and programs · 2024

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF COMMUNITY ELECTRIC COOPERATIVE

  • THE COOPERATIVE'S MAJOR PROGRAM SERVICE ACCOMPLISHMENT WAS THE SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 19,675,361 OTHER SALARIES AND WAGES 3,210,666 DEPRECIATION AND AMORTIZATION 2,350,002

As filed on the 2024 return.

Listed in Part VII

  • Steven A Harmon

    PRESIDENT AN

    Total calculated
    $1,267,351
    From this org
    $1,165,910
    From related orgs
    $0
    Other
    $101,441
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $501,154
    Bonus
    not reported
    Other
    $664,756
    Deferred
    $77,106
    Nontaxable benefits
    $24,335
    Filer's total
    $1,267,351

  • Herman G Presson

    MGR OF OPERA

    Total calculated
    $232,301
    From this org
    $136,069
    From related orgs
    $0
    Other
    $96,232
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,069
    Bonus
    not reported
    Other
    not reported
    Deferred
    $74,177
    Nontaxable benefits
    $22,055
    Filer's total
    $232,301

  • Jonathan D Thompson

    COO

    Total calculated
    $224,597
    From this org
    $173,199
    From related orgs
    $0
    Other
    $51,398
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,199
    Bonus
    not reported
    Other
    not reported
    Deferred
    $29,541
    Nontaxable benefits
    $21,857
    Filer's total
    $224,597

  • Daryl Walls

    VP OF BUS DE

    Total calculated
    $200,841
    From this org
    $155,634
    From related orgs
    $0
    Other
    $45,207
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $155,634
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,654
    Nontaxable benefits
    $21,553
    Filer's total
    $200,841

  • Danny T Beale

    LINEMAN

    Total calculated
    $190,827
    From this org
    $139,483
    From related orgs
    $0
    Other
    $51,344
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $139,483
    Bonus
    not reported
    Other
    not reported
    Deferred
    $39,214
    Nontaxable benefits
    $12,130
    Filer's total
    $190,827

  • Danielle Beale

    MGR OF ACCOU

    Total calculated
    $148,447
    From this org
    $129,865
    From related orgs
    $0
    Other
    $18,582
    Hours/week
    41

  • Erik Thiede

    LEAD LINEMAN

    Total calculated
    $140,933
    From this org
    $117,191
    From related orgs
    $0
    Other
    $23,742
    Hours/week
    47

  • Daniel Hobison

    LINEMAN

    Total calculated
    $135,764
    From this org
    $118,608
    From related orgs
    $0
    Other
    $17,156
    Hours/week
    48

  • Jeannette S Everett

    CHAIRMAN

    Total calculated
    $21,203
    From this org
    $20,003
    From related orgs
    $1,200
    Other
    $0
    Hours/week
    3.41 + 1 related

  • Diana F Beale

    SEC-TREAS

    Total calculated
    $19,203
    From this org
    $17,603
    From related orgs
    $1,600
    Other
    $0
    Hours/week
    1.61 + 1 related

  • Michael A Faulk

    VICE-CHAIRMA

    Total calculated
    $19,203
    From this org
    $17,603
    From related orgs
    $1,600
    Other
    $0
    Hours/week
    1.1 + 1 related

  • John W Stewart

    ASST. SEC-TR

    Total calculated
    $18,603
    From this org
    $17,003
    From related orgs
    $1,600
    Other
    $0
    Hours/week
    3.33 + 1 related

  • R Brian Jones Sr

    DIRECTOR

    Total calculated
    $18,003
    From this org
    $18,003
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.32

  • Douglas A Chesson

    DIRECTOR

    Total calculated
    $17,803
    From this org
    $17,803
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jason B Carr

    DIRECTOR

    Total calculated
    $17,403
    From this org
    $17,403
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.73

  • Chad N Fowler

    DIRECTOR

    Total calculated
    $17,003
    From this org
    $17,003
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.87

  • Kara D Hearn

    DIRECTOR

    Total calculated
    $16,803
    From this org
    $16,803
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.18

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 · Compensation survey or study
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
STEVEN A. HARMON 0 63,306 0
SCHEDULE J, PART III
COMMUNITY ELECTRIC COOPERATIVE IS A PARTICIPATING EMPLOYER IN THE RETIREMENT SECURITY PLAN SPONSORED BY THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCATION (NRECA). STEVEN HARMON DOES NOT PARTICIPATE IN THE PLAN, BUT INSTEAD PARTCIPATES IN A 457(F) DEFERRED COMPENSATION PLAN. AFTER 10 YEARS OF SERVICE THE AMOUNT IN THE PLAN VESTED AND WAS PAID OUT TO STEVEN HARMON IN THE TAX YEAR 2024. THIS BENEFIT HAS BEEN ACCRUED AND EXPENSED ACCORDINGLY OVER THE LIFE OF THE PLAN. NO ADDITIONAL EXPENSE WAS RECORDED BY COMMUNITY ELECTRIC AS A RESULT OF THE PAYMENT.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FRANKLIN REC SOLAR LLC

    UNRELATED · SOLAR FARM · IA · share of income $28,017

    Directly controlled by RECORE LLC

  • SOLAR VISION LLC

    UNRELATED · SOLAR FARM · WI · share of income $9,603

    Directly controlled by RECORE LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RECORE LLC

    GEN LEASES · VA · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
15 October 2025
IRS schema version
2024v5.0
Source object
202543099349301434

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