BETA

GULF COAST ELECTRIC COOP INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
GULF COAST ELECTRIC COOP INC (EIN 59-0543772)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-11
IRS object ID
202433169349301533
Schema version
2023v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-11-11T09:36:28-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN590548468PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1PURVIS GRAY & COMPANY LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1443 EAST COLLEGE AVENUEAddressLine1Txt
CityTALLAHASSEECityNm
State AbbreviationFLStateAbbreviationCd
ZIP32301ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN590543772EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1GULF COAST ELECTRIC COOPERATIVEBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlGULFBusinessNameControlTxt
Phone8506392216PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 220AddressLine1Txt
CityWEWAHITCHKACityNm
State AbbreviationFLStateAbbreviationCd
ZIP32465ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOHN M BARTLEY JRPersonNm
Person TitleCEOPersonTitleTxt
Phone8506392216PhoneNum
Signature2024-10-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRYAN M TUCKER CPAPreparerPersonNm
PTINP00524189PTIN
Phone8502247144PhoneNum
Preparation2024-10-10PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJOHN M BARTLEY JRPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 220AddressLine1Txt
CityWEWAHITCHKACityNm
State AbbreviationFLStateAbbreviationCd
ZIP32465ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$67,374,610GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.GCEC.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1941FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionPROVIDING ELECTRIC SALES TO MEMBERS.ActivityOrMissionDesc
Voting Members Governing Body9VotingMembersGoverningBodyCnt
Voting Members Independent9VotingMembersIndependentCnt
Total Employee112TotalEmployeeCnt
Total Gross UBI$2,104TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$1,104NetUnrelatedBusTxblIncmAmt
CY Contributions Grants$7,694CYContributionsGrantsAmt
PY Program Service Revenue$58,049,292PYProgramServiceRevenueAmt
CY Program Service Revenue$64,047,498CYProgramServiceRevenueAmt
PY Investment Income$309,521PYInvestmentIncomeAmt
CY Investment Income$588,453CYInvestmentIncomeAmt
PY Other Revenue$269,271PYOtherRevenueAmt
CY Other Revenue$203,468CYOtherRevenueAmt
PY Total Revenue$58,628,084PYTotalRevenueAmt
CY Total Revenue$64,847,113CYTotalRevenueAmt
PY Grants And Similar Paid$28,494PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$35,174CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$485,161PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$488,578CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,667,197PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$1,751,678CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$52,935,057PYOtherExpensesAmt
CY Other Expenses$57,964,619CYOtherExpensesAmt
PY Total Expenses$55,115,909PYTotalExpensesAmt
CY Total Expenses$60,240,049CYTotalExpensesAmt
PY Revenues Less Expenses$3,512,175PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$4,607,064CYRevenuesLessExpensesAmt
Total Assets BOY$234,149,331TotalAssetsBOYAmt
Total Assets EOY$244,338,633TotalAssetsEOYAmt
Total Liabilities BOY$161,031,125TotalLiabilitiesBOYAmt
Total Liabilities EOY$166,698,446TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$73,118,206NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$77,640,187NetAssetsOrFundBalancesEOYAmt
MissionPROVIDING ELECTRIC SERVICES TO MEMBERS.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
DescPROVIDE ELECTRIC SERVICES TO MEMBERS.Desc
Described In Section501c3falseDescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstYes (true)ReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Schedule J RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntYes (true)BusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document21IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee112EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Members And Shr Gross Income$62,222,231MembersAndShrGrossIncomeAmt
Other Sources Gross Income$2,560,889OtherSourcesGrossIncomeAmt
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members9GoverningBodyVotingMembersCnt
Independent Voting Member9IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersYes (true)MembersOrStockholdersInd
Election Of Board MembersYes (true)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (true)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonJOHN M BARTLEY JRPersonNm
Phone8506392216PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 220AddressLine1Txt
CityWEWAHITCHKACityNm
State AbbreviationFLStateAbbreviationCd
ZIP32465ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
JIMMY F BLACK JR
PRESIDENT2.50Yes (X)Yes (X)$18,850$0$0
DONALD C GOODSON
VICE PRESIDE2.50Yes (X)Yes (X)$16,400$0$0
BETTY J MOORE
SECRETARY2.50Yes (X)Yes (X)$17,100$0$0
DOUGLAS C BIRMINGHAM
TREASURER2.50Yes (X)Yes (X)$15,700$0$0
EDWARD W JONES
BOARD DIRECT2.50Yes (X)$28,733$0$0
RUPERT L BROWN
BOARD DIRECT2.50Yes (X)$18,850$0$0
DWIGHT VAN LIEROP
BOARD DIRECT2.50Yes (X)$16,750$0$0
ROBERT L BYRD
BOARD DIRECT2.50Yes (X)$16,400$0$0
KINNETH M DANIELS
BOARD DIRECT2.50Yes (X)$9,750$0$0
JOHN M BARTLEY JR
CEO45.00Yes (X)$365,804$0$57,969
LEONARD HINSON
COO45.00Yes (X)$249,817$0$8,898
JUSTIN BARNES
VP OF MEMBER45.00$149,864$0$37,214Yes (X)
CHAD CREAMER
FOREMAN OF C40.00$122,359$0$21,703Yes (X)
TIMOTHY WADE
OPERATIONS S40.00$120,650$0$8,557Yes (X)
KRISTIN DOUGLAS
VP OF MARKET40.00$116,254$0$42,733Yes (X)
HOWARD BRACKIN
SUPER. OF OP40.00$115,777$0$48,791Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$1,399,058TotalReportableCompFromOrgAmt
Total Other Compensation$225,865TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K19IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
LEE ELECTRICAL CONSTRUCTION INC
12828 HWY 15 501 SOUTHABERDEENNC28315LINE CONSTRUCTN$2,289,293
MASTEC NORTH AMERICA INC
700 COMMERCE DRIVE SUITE 235WOODBURYMN55125LINE CONSTRUCTN$2,226,416
DEWBERRY ENGINEERS INC
PO BOX 821824PHILADELPHIAPA191821824CONSULTING$1,200,523
GDS ASSOCIATES INC
1850 PARKWAY PLACE SUITE 800MARIETTAGA30067CONSULTING$1,066,156
CREAMER'S TREE SERVICES DEBRIS HAU
2525 EAST HIGHWAY 388SOUTHPORTFL32409ROW CLEARING$612,732
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K17CntrctRcvdGreaterThan100KCnt
All Other Contributions$7,694AllOtherContributionsAmt
Total Contributions$7,694TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (4 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtExclusionExclusionAmt
SALE OF ELECTRICITY221000$53,843,880$53,843,880
TYNDALL AFB CONTRACT REVENUE221000$7,932,285$7,932,285
CAPITAL CREDITS221000$1,690,281$1,690,281
POLE RENTAL221000$581,052$581,052
FieldValueIRS element (for citing)
Total Program Service Revenue$64,047,498TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$433,674TotalRevenueColumnAmt
Related Or Exempt Func Income$433,674RelatedOrExemptFuncIncomeAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$3,236RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$1,132RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$2,104RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,104TotalRevenueColumnAmt
Unrelated Business Revenue$2,104UnrelatedBusinessRevenueAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$2,053,072SecuritiesAmt
Other$383,370OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$2,002,744SecuritiesAmt
Other$278,919OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$50,328SecuritiesAmt
Other$104,451OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$154,779TotalRevenueColumnAmt
Related Or Exempt Func Income$154,779RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Gross Sales Of Inventory$446,066GrossSalesOfInventoryAmt
Cost Of Goods Sold$244,702CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$201,364TotalRevenueColumnAmt
Related Or Exempt Func Income$201,364RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$64,847,113TotalRevenueColumnAmt
Related Or Exempt Func Income$64,256,263RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$2,104UnrelatedBusinessRevenueAmt
Exclusion$581,052ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$28,174TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$7,000TotalAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$488,578TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$841,020TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$910,658TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$5,800,865TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$6,915,949TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
COST OF POWER$31,961,238
DISTRIBUTION - MAINTENANC$4,894,315
ADMINISTRATION & GENERAL$4,003,746
DISTRIBUTION - OPERATIONS$2,913,830

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$1,474,676TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$60,240,049TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,174,025BOYAmt
EOY$711,953EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$9,813,096BOYAmt
EOY$7,568,011EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$19,613,705BOYAmt
EOY$19,657,690EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$8,804,027BOYAmt
EOY$13,161,533EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$2,977,166BOYAmt
EOY$2,192,540EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$221,606,604LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$49,739,152LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$161,853,768BOYAmt
EOY$171,867,452EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$2,189,424BOYAmt
EOY$162,012EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$24,000BOYAmt
EOY$24,000EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$27,700,120BOYAmt
EOY$28,993,442EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$234,149,331BOYAmt
EOY$244,338,633EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$8,073,541BOYAmt
EOY$7,046,759EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$127,818,623BOYAmt
EOY$133,243,980EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$25,138,961BOYAmt
EOY$26,407,707EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$161,031,125BOYAmt
EOY$166,698,446EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$91,530BOYAmt
EOY$93,315EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$20,170,458BOYAmt
EOY$18,752,274EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$52,856,218BOYAmt
EOY$58,794,598EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$73,118,206BOYAmt
EOY$77,640,187EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$234,149,331BOYAmt
EOY$244,338,633EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$4,607,064ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$63,461NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets-$148,544OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredYes (true)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (true)FederalGrantAuditPerformedInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$756,034OtherCostOrOtherBasisAmt
Book Value$756,034BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$5,437,008OtherCostOrOtherBasisAmt
Book Value$5,437,008BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$18,148,410OtherCostOrOtherBasisAmt
Depreciation$6,462,057DepreciationAmt
Book Value$11,686,353BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$197,265,152OtherCostOrOtherBasisAmt
Depreciation$43,277,095DepreciationAmt
Book Value$153,988,057BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$171,867,452TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp (8 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
PATRONAGE CAPITAL FROM POWERSOUTH$19,053,620C
CFC MEDIUM TERM NOTES$3,572,000C
PATRONAGE CAPITAL FROM NAT'L RURAL$3,109,268C
PATRONAGE CAPITAL FROM GA RURAL ELEC$1,361,117C
NRUCFC TERM CERTIFICATES$781,495C
INVESTEMENTS IN OTHER ASSOCAITED ORG$628,834C
PATRONAGE CAPITAL FROM ASSOC. COOP.$481,118C
PATRONAGE CAPITAL FROM CO-BANK$5,990C
FieldValueIRS element (for citing)
Total Book Value Program Rltd$28,993,442TotalBookValueProgramRltdAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)

DescDescAmtAmt
DEFERRED CREDITS$23,349,791
CUSTOMER DEPOSITS$2,107,644
POST-RETIREMENT BENEFIT LIABILITY$742,375
OPERATING LEASE LIABILITY$147,751
HURR MICH FEMA$60,146
FieldValueIRS element (for citing)
Total Liability$26,407,707TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$64,904,012TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$63,461NetUnrealizedGainsInvstAmt
Revenue Not Reported$63,461RevenueNotReportedAmt
Revenue Subtotal$64,840,551RevenueSubtotalAmt
Other Revenues Not Included$6,562OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$6,562RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$64,847,113TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$59,744,909TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$1,132OtherExpensesIncludedAmt
Expenses Not Reported$1,132ExpensesNotReportedAmt
Expenses Subtotal$59,743,777ExpensesSubtotalAmt
Other Expenses Not Included$496,272OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$496,272ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$60,240,049TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE D, PAGE 3, PART XTHE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C) (12), WITH THE EXCEPTION OF TAXES LEVIED ON UNRELATED BUSINESS INCOME DERIVED FROM CERTAIN TRADE OR BUSINESS ACTIVITIES. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN, AND TO RECOGNIZE A TAX LIABILITY (OR ASSET) IF AN UNCERTAIN POSITION MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS AND STATE TAXING AGENCIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COOPERATIVE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES THE COOPERATIVE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020.
SCHEDULE D, PAGE 4, PART XI, LINE 4BRENTAL EXPENSE REPORTED ON PART VIII -1,132 DONATIONS RECEIVED FOR GRANTS 7,694
SCHEDULE D, PAGE 4, PART XII, LINE 2DRENTAL EXPENSE REPORTED ON PART VIII 1,132
SCHEDULE D, PAGE 4, PART XII, LINE 4BRETIREMENT OF CAPITAL CREDITS 488,578 DONATIONS RECEIVED FOR GRANTS 7,694

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (true)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeSCHOLARSHIPSGrantTypeTxt
Recipient7RecipientCnt
Cash Grant$7,000CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE I, PAGE 1, PART I, LINE 2SCHOLARSHIP PROGRAM: THE COOPERATIVE'S ANNUAL COLLEGE SCHOLARSHIP PROGRAM IS DESIGNED TO HELP GRADUATING HIGH SCHOOL SENIORS, WHOSE PARENTS OR GUARDIANS ARE MEMBERS OF GCEC, AND WHO ARE ATTENDING A COLLEGE, UNIVERSITY, OR TECHNICAL SCHOOL. THE SCHOLARSHIP WINNERS ARE SELECTED AT THE ANNUAL MEETING. ELECTRIC ASSISTANCE: AS PART OF THE PROJECT HELPING HAND PROGRAM, THE COOPERATIVE SERVES AS A PASS-THROUGH AGENT, ALLOWING MEMBERS TO PROVIDE FINANCIAL ASSISTANCE TO THE FAMILY SERVICE AGENCY FOR UTILITY RELATED SUBSIDIES TO OTHER RESIDENTIAL MEMBERS. MEMBERS WHO PARTICIPATE IN PROJECT HELPING HAND CHOOSE TO DONATE TO THE PROGRAM THROUGH THEIR MONTHLY UTILITY BILL AND THE FUNDS ARE DEPOSITED INTO THE PROJECT HELPING HAND ACCOUNT. NO RECIPIENT MEMBERS RECEIVED MORE THAN 1,000 DURING THE YEAR UNDER THE PROGRAM.
SCHEDULE I, PAGE 4, PART IVSCHEDULE I, PART II, LINE 1(A)(1) - AS PART OF GIVING BACK TO THE COMMUNITY, THE COOPERATIVE SUPPORTS LOCAL CAUSES RANGING FROM EDUCATION TO THE ENVIRONMENT. CONTRIBUTIONS ARE DETERMINED BY THE BOARD.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentfalseSeverancePaymentInd
Supplemental Nonqual Rtr PlanfalseSupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtBonus Filing OrganizationBonusFilingOrganizationAmountOther Compensation Filing OrgOtherCompensationFilingOrgAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmt
JOHN M BARTLEY JR
CEO$302,963$9,512$53,329$53,077$4,892$423,773
LEONARD HINSON
COO$233,274$512$16,031$8,164$734$258,715
JUSTIN BARNES
VP OF MEMBER SERVICE$142,744$541$6,579$32,081$5,133$187,078
KRISTIN DOUGLAS
VP OF MARKETING$110,845$541$4,868$37,823$4,910$158,987
HOWARD BRACKIN
SUPER. OF OPERATIONS$111,394$541$3,842$43,659$5,132$164,568

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE J, PART IIIFormAndLineReferenceDesc
ExplanationTHE AMOUNTS REPORTED ON SCHEDULE J, PART II(C) INCLUDE THE CHANGE IN THE ACTUARIAL VALUE OF THE NRECA RETIREMENT SECURITY (RS) DEFINED BENEFIT PENSION PLAN AS COMPUTED BY THE PLAN'S ACTUARIES AND INCLUDES THE AMOUNT OF 401(K) EMPLOYER CONTRIBUTIONS. THIS IS NOT REPRESENTATIVE OF AMOUNTS PAID BY THE COOPERATIVE ON THE EMPLOYEE'S BEHALF.ExplanationTxt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

FieldValueIRS element (for citing)
PersonPOWERSOUTH ENERGY COOPERATIVEPersonNm
FieldValueIRS element (for citing)
Relationship DescriptionSEE PART VRelationshipDescriptionTxt
Transaction$31,910,426TransactionAmt
TransactionPURCHASE POWERTransactionDesc
Sharing Of RevenuesfalseSharingOfRevenuesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE L, PART VFormAndLineReferenceDesc
ExplanationADDITIONAL PART IV INFORMATION: JOHN BARLEY, CEO OF GULF COAST ELECTRIC COOPERATIVE, SERVES ON THE BOARD OF DIRECTORS OF POWERSOUTH, AN ELECTRIC GENERATING AND TRANSMISSION COOPERATIVE. POWERSOUTH IS THE SOLE SUPPLIER OF ELECTRICITY TO THE COOPERATIVE AND HAS ENTERED INTO AN AGREEMENT TO SUPPLY POWER TO THE COOPERATIVE THROUGH DECEMBER 31, 2050. THE FOLLOWING IS A SUMMARY OF ALL SIGNIFICANT TRANSACTIONS BETWEEN THE COOPERATIVE AND POWERSOUTH: PURCHASED POWER FROM POWERSOUTH = 31,910,426 AMOUNT OWED TO POWERSOUTH AT DECEMBER 31 = 2,352,223 G&T CAPITAL CREDITS ALLOCATED FROM POWERSOUTH = 548,916 TOTAL ACCUMULATED G&T CAPITAL CREDITS FROM POWER SOUTH AT DECEMBER 31 = 19,053,620ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (9 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 6MEMBERSHIP IS COMPRISED OF ANY PERSON, FIRM, ASSOCIATION, CORPORATION, OR BODY POLITIC OR SUBDIVISION THEREOF WHO (1) HAS MADE A WRITTEN APPLICATION FOR MEMBERSHIP, (2) AGREED TO PURCHASE COOPERATIVE ELECTRIC ENERGY, (3) AGREED TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD, AND (4) PAID THE MEMBERSHIP FEE.
FORM 990, PAGE 6, PART VI, LINE 7AMEMBERS OF THE COOPERATIVE ELECT THE GOVERNING BOARD TO THREE YEAR TERMS.
FORM 990, PAGE 6, PART VI, LINE 7BTHE BYLAWS OF THE COOPERATIVE REQUIRE APPROVAL BY THE MEMBERS FOR SUCH DECISIONS AS CHANGES IN THE BYLAWS, THE SALE, MORTGAGE OR LEASE OF ALL OR ANY SUBSTANTIAL PORTION OF THE COOPERATIVE'S PROPERTY.
FORM 990, PAGE 6, PART VI, LINE 11BTHE FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER, THEN PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL BEFORE BEING EXECUTED AND FILED.
FORM 990, PAGE 6, PART VI, LINE 12CEACH MEMBER OF THE BOARD OF TRUSTEES COMPLETES A STATEMENT ANNUALLY AFFIRMING THAT THERE HAVE BEEN NO INSTANCES OVER THE PREVIOUS YEAR MAKING THEM OUT OF COMPLIANCE WITH THE GUIDELINES DETAILED IN THE COOPERATIVE CONFLICT OF INTEREST POLICY.
FORM 990, PAGE 6, PART VI, LINE 15AEACH YEAR, THE CHIEF EXECUTIVE OFFICER'S PERFORMANCE IS EVALUATED BY THE BOARD OF TRUSTEES, AN INDEPENDENT BODY, USING COMPARABILITY PAY DATA FROM OTHER COOPERATIVES. THE CHIEF EXECUTIVE OFFICER EVALUATES THE PERFORMANCE OF THE DEPARTMENT MANGERS AND USES COMPARABILITY PAY DATA FROM OTHER COOPERATIVES. THE BOARD OF TRUSTEES APPROVES THE PAYROLL INCREASES TO THE DEPARTMENT MANAGERS AND EMPLOYEES.
FORM 990, PAGE 6, PART VI, LINE 15BTHE CHIEF EXECUTIVE OFFICER EVALUATES THE PERFORMANCE OF THE DEPARTMENT MANGERS AND USES COMPARABILITY PAY DATA FROM OTHER COOPERATIVES. THE BOARD OF TRUSTEES APPROVES THE PAYROLL INCREASES TO THE DEPARTMENT MANAGERS AND EMPLOYEES.
FORM 990, PAGE 6, PART VI, LINE 19EACH YEAR, THE FINANCIAL STATEMENTS FOR THE PREVIOUS YEAR ARE PRINTED IN THE MEMBERS' MAGAZINE PRIOR TO THE MEMBERS' ANNUAL MEETING. COPIES OF THE FORM 990, OTHER GOVERNING DOCUMENTS, AND POLICIES ARE MAINTAINED IN EACH COOPERATIVE OFFICE AND ARE AVAILABLE FOR PUBLIC REVIEW UPON REQUEST.
FORM 990, PART XI, LINE 9MEMBERSHIPS 1,785 AMORT. OF UNRECONGINIZED PRIOR SERVICE COSTS 0 AND UNRECOGNIZED ACTUARIAL GAIN -150,329 TOTAL -148,544

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