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Nonprofiteer
← COLES-MOULTRIE ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by COLES-MOULTRIE ELECTRIC COOPERATIVE.

Totals

Total revenue
$31,527,987
Total expenses
$29,705,473
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$30,273,395
Investment income
$45,680
Other revenue
$1,208,912
Total assets, end of year
$65,118,538
Total liabilities, end of year
$23,296,065
Net assets or fund balances, end of year
$41,822,473
Program services expenses (Part IX)
$29,705,473
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$29,705,473

Program services were 100.0% 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: ELECTRIC REVENUE

    total $30,016,284 · related or exempt $30,016,284

  • 2b · Program service revenue: OTHER MISC REVENUE

    total $257,111 · related or exempt $257,111

  • 3 · Investment income

    total $47,480 · excluded $47,480

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

    other assets $1,800

  • 7c · Gain or loss

    other assets -$1,800

  • 7d · Net gain or loss

    total -$1,800 · excluded -$1,800

  • 11a · Other revenue: PATRONAGE REVENUE

    total $1,209,988 · excluded $1,209,988

  • 11b · Other revenue: 990-T INCOME(EXPENSE)

    total -$1,076 · unrelated business -$1,076

  • 11e · Other revenue, total

    $1,208,912

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,903,068 · program services $1,903,068

  • 20 · Interest

    total $836,537 · program services $836,537

  • 22 · Depreciation, depletion and amortization

    total $2,119,794 · program services $2,119,794

  • 24a · Other expenses: PURCHASED POWER

    total $18,779,688 · program services $18,779,688

  • 24b · Other expenses: MAINTENANCE

    total $2,866,894 · program services $2,866,894

  • 24c · Other expenses: OPERATIONS

    total $2,488,737 · program services $2,488,737

  • 24d · Other expenses: CONSUMER ACCOUNTING & S

    total $668,686 · program services $668,686

  • 24e · All other expenses

    total $42,069 · program services $42,069

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,305,536 · end of year $1,342,995

  • 4 · Accounts receivable

    beginning of year $4,438,674 · end of year $4,546,324

  • 7 · Other notes and loans receivable

    beginning of year $659,219 · end of year $392,547

  • 8 · Inventories for sale or use

    beginning of year $220,487 · end of year $313,657

  • 9 · Prepaid expenses and deferred charges

    beginning of year $322,883 · end of year $138,598

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

    $69,891,052

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

    $27,756,575

  • 10c · Land, buildings and equipment, net

    beginning of year $38,898,585 · end of year $42,134,477

  • 13 · Investments: program-related

    beginning of year $18,292,653 · end of year $16,249,940

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,397,954 · end of year $3,064,857

  • 19 · Deferred revenue

    beginning of year $184,435 · end of year $160,730

  • 23 · Secured mortgages and notes payable

    beginning of year $16,690,771 · end of year $16,268,409

  • 25 · Other liabilities

    beginning of year $3,897,144 · end of year $3,802,069

  • 29 · Capital stock, trust principal or current funds

    beginning of year $3,018,962 · end of year $3,018,962

  • 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 $36,948,771 · end of year $38,803,511

Mission and programs · 2023

Mission

PROVIDE RELIABLE ELECTRIC POWER & RELATED SERVICES TO OUR MEMBERS AT THE MOST AFFORDABLE COST.

  • DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS

    Expenses $29,705,473 · Revenue $30,273,395

As filed on the 2023 return.

Listed in Part VII

  • Kent Metzger

    CHAIRMAN

    Total calculated
    $7,424
    From this org
    $7,424
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.09

  • Billy Voyles

    VICE CHAIRMAN

    Total calculated
    $2,220
    From this org
    $2,220
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.37

  • Andrew Fearn

    SECRETARY

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.92

  • Thomas Sherman

    TREASURER

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.76

  • Mike Love

    DIRECTOR

    Total calculated
    $3,330
    From this org
    $3,330
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.83

  • Colt Roderick

    DIRECTOR

    Total calculated
    $2,220
    From this org
    $2,220
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.57

  • Jeffery Hudson

    DIRECTOR

    Total calculated
    $2,590
    From this org
    $2,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.97

  • Amy Borntrager

    PRESIDENT/CEO

    Total calculated
    $223,872
    From this org
    $171,204
    From related orgs
    $0
    Other
    $52,668
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,204
    Bonus
    $0
    Other
    $0
    Deferred
    $48,395
    Nontaxable benefits
    $4,273
    Filer's total
    $223,872

  • James Wallace

    DIRECTOR OF OPERATIONAL SERVICES

    Total calculated
    $189,836
    From this org
    $145,814
    From related orgs
    $0
    Other
    $44,022
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,814
    Bonus
    $0
    Other
    $0
    Deferred
    $40,441
    Nontaxable benefits
    $3,581
    Filer's total
    $189,836

  • Marcus McDowell

    AREA SERVICEMAN

    Total calculated
    $169,719
    From this org
    $138,252
    From related orgs
    $0
    Other
    $31,467
    Hours/week
    45.28

    Schedule J breakdown matched by us

    Base
    $138,252
    Bonus
    $0
    Other
    $0
    Deferred
    $28,726
    Nontaxable benefits
    $2,741
    Filer's total
    $169,719

  • John Pickowitz

    GENERAL FOREMAN

    Total calculated
    $168,660
    From this org
    $135,603
    From related orgs
    $0
    Other
    $33,057
    Hours/week
    44.02

    Schedule J breakdown matched by us

    Base
    $135,603
    Bonus
    $0
    Other
    $0
    Deferred
    $30,180
    Nontaxable benefits
    $2,877
    Filer's total
    $168,660

  • Mitchell Stanciu

    LINE FOREMAN

    Total calculated
    $166,863
    From this org
    $134,970
    From related orgs
    $0
    Other
    $31,893
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $134,970
    Bonus
    $0
    Other
    $0
    Deferred
    $29,113
    Nontaxable benefits
    $2,780
    Filer's total
    $166,863

  • William Honchell

    DIRECTOR OF OPERATIONS

    Total calculated
    $168,419
    From this org
    $130,312
    From related orgs
    $0
    Other
    $38,107
    Hours/week
    43.44

    Schedule J breakdown matched by us

    Base
    $130,312
    Bonus
    $0
    Other
    $0
    Deferred
    $35,292
    Nontaxable benefits
    $2,815
    Filer's total
    $168,419

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
2023
Filed
26 July 2024
IRS schema version
2023v5.1
Source object
202412489349300621

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