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Nonprofiteer
← CONCORDIA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by CONCORDIA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$28,029,004
Total expenses
$29,942,281
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,947,043
Investment income
$81,002
Other revenue
$959
Total assets, end of year
$37,758,213
Total liabilities, end of year
$26,082,438
Net assets or fund balances, end of year
$11,675,775
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$29,942,281

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: Operating Rev. & Patronage Cap.

    total $27,924,904 · related or exempt $27,924,904 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Other Capital Credits & Patronage Dividends

    total $22,139 · related or exempt $22,139 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $73,840 · related or exempt $0 · unrelated business $0 · excluded $73,840

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $7,437

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

    securities $0 · other assets $275

  • 7c · Gain or loss

    securities $0 · other assets $7,162

  • 7d · Net gain or loss

    total $7,162 · related or exempt $7,162 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Contract Work

    total $959 · related or exempt $959 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $959

Functional expenses

Part IX, the statement of functional expenses.

  • 10 · Payroll taxes

    total -$1,861

  • 11b · Fees: legal

    total $377,329

  • 11c · Fees: accounting

    total $36,642

  • 11g · Fees: other

    total $221,743

  • 13 · Office expenses

    total $79,810

  • 20 · Interest

    total $1,007,042

  • 22 · Depreciation, depletion and amortization

    total $1,916,393

  • 24a · Other expenses: Consumers Account & Service, Exp

    total $1,770,994

  • 24b · Other expenses: Purchase Power & Transmissions

    total $17,083,043

  • 24c · Other expenses: Other Deductions

    total $435,505

  • 24d · Other expenses: Distribution Expense

    total $6,001,071

  • 24e · All other expenses

    total $1,014,570

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $748,264 · end of year $30,886

  • 4 · Accounts receivable

    beginning of year $4,854,400 · end of year $3,998,212

  • 8 · Inventories for sale or use

    beginning of year $483,945 · end of year $364,731

  • 9 · Prepaid expenses and deferred charges

    beginning of year $296,442 · end of year $260,196

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

    $68,970,296

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

    $37,900,008

  • 10c · Land, buildings and equipment, net

    beginning of year $30,864,964 · end of year $31,070,288

  • 12 · Investments: other securities

    beginning of year $498,000 · end of year $498,000

  • 13 · Investments: program-related

    beginning of year $1,524,306 · end of year $1,523,513

  • 15 · Other assets

    beginning of year $12,075 · end of year $12,387

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,619,382 · end of year $2,665,943

  • 23 · Secured mortgages and notes payable

    beginning of year $17,458,357 · end of year $19,580,425

  • 25 · Other liabilities

    beginning of year $3,463,297 · end of year $3,836,070

  • 29 · Capital stock, trust principal or current funds

    beginning of year $43,750 · end of year $43,740

  • 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 $13,697,610 · end of year $11,632,035

Mission and programs · 2024

Mission

Sale of electricity to 13,775 consumers.

Activities or mission (Part I)

Sale of electricity to consumers in rural areas.

  • Sale of electricity to 13,804 consumers.

    Expenses $29,942,281

As filed on the 2024 return.

Listed in Part VII

  • Stanley DeWayne Bailey

    General Manager & CEO

    Total calculated
    $139,021
    From this org
    $138,846
    From related orgs
    $0
    Other
    $175
    Hours/week
    40

  • Craig McCully

    Staking & Safety

    Total calculated
    $108,878
    From this org
    $107,858
    From related orgs
    $0
    Other
    $1,020
    Hours/week
    51

  • Jacques Lossin

    Service Lineman

    Total calculated
    $107,180
    From this org
    $106,855
    From related orgs
    $0
    Other
    $325
    Hours/week
    55

  • Gerald Huffman

    Operational Superintendent

    Total calculated
    $100,844
    From this org
    $100,844
    From related orgs
    $0
    Other
    $0
    Hours/week
    51

  • Billy Davis

    Interim General Manager & CEO

    Total calculated
    $86,277
    From this org
    $86,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bobby Creel

    Director

    Total calculated
    $23,421
    From this org
    $23,421
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Don Hamilton

    Vice President

    Total calculated
    $14,875
    From this org
    $14,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Brenda Higdon

    Secretary

    Total calculated
    $11,829
    From this org
    $11,829
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • David Wade

    President

    Total calculated
    $10,020
    From this org
    $10,020
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • David Cole

    Director

    Total calculated
    $6,975
    From this org
    $6,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • William Cockerham

    Treasurer

    Total calculated
    $6,475
    From this org
    $6,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Christopher Freeman

    Director

    Total calculated
    $6,475
    From this org
    $6,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Kenneth Ford

    Director

    Total calculated
    $6,475
    From this org
    $6,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Tracy Mae

    Director

    Total calculated
    $6,475
    From this org
    $6,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.0
Source object
202533219349304108

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