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Nonprofiteer
← CLARKE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by CLARKE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$14,695,333
Total expenses
$14,525,661
Contributions and grants received
$0
Grants paid
$10,268
Program service revenue
$14,617,865
Investment income
$32,065
Other revenue
$45,403
Total assets, end of year
$44,657,003
Total liabilities, end of year
$25,823,529
Net assets or fund balances, end of year
$18,833,474
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: DISTRIBUTE ELECTRICITY TO MEMBERS

    total $14,360,510 · related or exempt $14,360,510

  • 2b · Program service revenue: CAPITAL CREDITS

    total $257,355 · related or exempt $257,355

  • 3 · Investment income

    total $32,065 · excluded $32,065

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

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: RESALE/METER SERVICE/OTHER

    total $41,119 · unrelated business $41,119

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $4,284 · unrelated business $4,284

  • 11e · Other revenue, total

    $45,403

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,268

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $465,000

  • 5 · Compensation of officers, directors and key employees

    total $262,842

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,182,455

  • 8 · Pension plan contributions

    total $288,757

  • 9 · Other employee benefits

    total $113,141

  • 10 · Payroll taxes

    total $196,970

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $9,355

  • 11c · Fees: accounting

    total $28,658

  • 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 $32,437

  • 13 · Office expenses

    total $52,380

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $824,493

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,661,465

  • 23 · Insurance

    total $0

  • 24a · Other expenses: PURCHASED POWER

    total $7,540,095

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $456,853

  • 24c · Other expenses: OPERATING EXPENSES

    total $679,176

  • 24d · Other expenses: ADMINISTRATIVE`

    total $429,725

  • 24e · All other expenses

    total $291,591

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $115,671 · end of year $60,692

  • 2 · Savings and temporary cash investments

    beginning of year $1,012,451 · end of year $1,084,328

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,031,331 · end of year $1,512,606

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $804,884 · end of year $544,842

  • 8 · Inventories for sale or use

    beginning of year $366,049 · end of year $919,229

  • 9 · Prepaid expenses and deferred charges

    beginning of year $132,828 · end of year $143,892

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

    $53,621,837

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

    $16,878,610

  • 10c · Land, buildings and equipment, net

    beginning of year $34,836,664 · end of year $36,743,227

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $3,742,954 · end of year $3,643,653

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $99 · end of year $99

  • 15 · Other assets

    beginning of year $4,610 · end of year $4,435

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,662,899 · end of year $1,870,725

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $967,195 · end of year $1,530,753

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $20,791,357 · end of year $22,343,355

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $82,261 · end of year $78,696

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $18,543,829 · end of year $18,833,474

Mission and programs · 2022

Mission

TO DISTRIBUTE ELECTRICITY TO MEMBERS

  • TO DISTRIBUTE ELECTRICY TO MEMBERS

As filed on the 2022 return.

Listed in Part VII

  • David Opie

    GENERAL MANAGER

    Total calculated
    $223,642
    From this org
    $162,075
    From related orgs
    $0
    Other
    $61,567
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,321
    Bonus
    $550
    Other
    $4,204
    Deferred
    $37,691
    Nontaxable benefits
    $23,876
    Filer's total
    $223,642

  • Brad Wilson

    MANAGER OF ENGINEERING

    Total calculated
    $184,456
    From this org
    $131,092
    From related orgs
    $0
    Other
    $53,364
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,261
    Bonus
    $550
    Other
    $281
    Deferred
    $31,272
    Nontaxable benefits
    $22,092
    Filer's total
    $184,456

  • Chad McIntosh

    MANAGER OF OPERATIONS

    Total calculated
    $157,722
    From this org
    $108,375
    From related orgs
    $0
    Other
    $49,347
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,331
    Bonus
    $550
    Other
    $494
    Deferred
    $25,902
    Nontaxable benefits
    $23,445
    Filer's total
    $157,722

  • Sam Walkup

    MANAGER OF FINANCE

    Total calculated
    $144,147
    From this org
    $100,212
    From related orgs
    $0
    Other
    $43,935
    Hours/week
    40

  • Adam McCuddin

    JOURNEYMAN

    Total calculated
    $127,079
    From this org
    $100,812
    From related orgs
    $0
    Other
    $26,267
    Hours/week
    40

  • W Edward White

    PRESIDENT

    Total calculated
    $7,350
    From this org
    $7,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • Larry Jackson

    DIRECTOR

    Total calculated
    $6,625
    From this org
    $6,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.22

  • Cody Miller

    DIRECTOR

    Total calculated
    $5,825
    From this org
    $5,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.68

  • Randy Barnard

    ASSISTANT SEC/TREASURER

    Total calculated
    $4,975
    From this org
    $4,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.85

  • Lydda Youmans

    TREASURER

    Total calculated
    $4,650
    From this org
    $4,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.75

  • Larry Keller

    SECRETARY

    Total calculated
    $3,950
    From this org
    $3,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.78

  • Maren Kelso

    DIRECTOR

    Total calculated
    $3,925
    From this org
    $3,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.56

  • Randy Rouse

    VICE PRESIDENT

    Total calculated
    $3,400
    From this org
    $3,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.49

  • Natalie Rydl

    DIRECTOR

    Total calculated
    $2,250
    From this org
    $2,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.03

  • William Willis

    DIRECTOR - DECEASED IN 2022

    Total calculated
    $250
    From this org
    $250
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.38

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 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
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202302999349301045

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