2023-11-09T10:28:59-06:00 2023-06-30 630681783 MDA PROFESSIONAL GROUP PC PO BOX 1188 ALBERTVILLE AL 35950 990 2022-07-01 630153273 NORTH ALABAMA ELECTRIC COOPERATIVE NORT 2564372281 PO BOX 628 STEVENSON AL 357720628 JAMES O'NEAL TREASURER 2564372281 2023-11-07 1 JAMES ONEAL 999009999 1 JOELLA BOGLE CPA P01828204 2568785548 2023-11-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GENA HALL PO BOX 628 STEVENSON AL 357720628 59602382 0 X WWW.NAECOOP.COM X 1940 AL PROVIDING ELECTRIC ENERGY TO ITS MEMBERS 9 9 59 0 0 0 0 0 54632149 58612954 271051 309249 610667 680179 55513867 59602382 0 0 0 0 344703 444127 0 0 0 50739697 56375960 51084400 56820087 4429467 2782295 61243649 64720331 30042185 29931620 31201464 34788711 THE AIM OF NORTH ALABAMA ELECTRIC COOPERATIVE IS TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. 0 0 45691198 UTILIZING APPROXIMATELY 2,288 MILES OF DISTRIBUTION LINES, NORTH ALABAMA ELECTRIC COOPERATIVE PROVIDED 471,858,414 KWH'S OF ELECTRIC ENERGY TO ITS COOPERATIVE MEMBERS 4203404 UTILIZING APPROXIMATELY 2,288 MILES OF FIBER INTERNET, NORTH ALABAMA ELECTRIC COOPERATIVE PROVIDED DEPENDABLE AND AFFORDABLE COMMUNICATION SERVICES TO ITS COOPERATIVE MEMBERS. 49894602 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 59 1 0 0 0 0 0 0 0 58632811 680179 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 1 1 0 X GENA HALL 2564372281 41103 US HWY 72 STEVENSON AL 357720628 JAMES GOINS TRUSTEE 11.00 X 20950 0 0 STEVE CARVER TRUSTEE 11.00 X 27265 0 0 JAMES O'NEAL TRASURER 10.00 X 9390 0 0 PARKS TUBBS TRUSTEE 10.00 X 17499 0 0 WARREN WHITCHER TRUSTEE 10.00 X 10806 0 0 LOUIS CROWDER TRUSTEE 10.00 X 13342 0 0 WILLARD TOWNSON PRESIDENT 12.00 X 11256 0 0 MARK DOVER TRUSTEE 10.00 X 27265 0 0 BOBBY HICKS TRUSTEE 10.00 X 27865 0 0 BRUCE L PURDY GENERAL MANAGER 57.00 X 278489 0 0 444127 0 0 1 0 1 0 HILL'S TREE SURGEONS 1704 CO RD 290 BRYANT AL 35958 RIGHT OF WAY CLEARING 680762 THE TREE DOCTOR PO BOX 194 STEVENSON AL 35772 RIGHT OF WAY CLEARING 304605 UTILITY CONSTRUCTION GROUP 200 SCOTLAND DR SCOTTSBORO AL 35769 RIGHT OF WAY CLEARING 233356 3 SALES OF ELECTRICITY - RESIDENTIA 221000 24688005 24688005 SALES OF ELECTRICITY - LARGE COMM 221000 15286982 15286982 SALES OF ELECTRICITY - SMALL COMM 221000 7800315 7800315 BROADBAND REVENUE 221000 6465006 6465006 SALES OF ELECTRICITY - IND OUTDOO 221000 902792 902792 3469854 3469854 58612954 224026 224026 680179 0 680179 680179 680179 85223 0 85223 85223 85223 59602382 58922203 0 680179 X 444127 283113 64209 54000 213349 2875960 COST OF POWER 36060588 BROADBAND EXPENSES 4381271 REPAIRS AND MAINTENANCE 2802960 OPERATING TAXES 2414637 7225873 56820087 17473122 14448577 4575396 4342315 1123115 926873 1132846 1631872 433030 495762 75103075 37311687 36008404 37791388 497736 4512031 0 571513 61243649 64720331 8218837 7828780 6254368 6134899 15568980 15967941 30042185 29931620 X 170805 172700 0 0 31030659 34616011 31201464 34788711 61243649 64720331 X 2782295 803057 1895 X X 0 1 X 1 0 417266 417266 1860042 1860042 72825767 37311687 35514080 37791388 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 4512031 C 4512031 ADVANCE FOR CONSERVATION LOANS 927062 CUSTOMER DEPOSITS 2593350 POST RETIREMENT BENEFITS 12034996 LEASE LIABILITY 412533 15967941 X 58632810 0 58632810 969572 969572 59602382 55850515 0 55850515 969572 969572 56820087 PART X, LINE 2: ASC 740-10 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE STANDARD ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, TREATMENT OF INTEREST AND PENALTIES, AND DISCLOSURE OF SUCH POSITIONS. EFFECTIVE JANUARY 1, 2008, THE COOPERATIVE ADOPTED THE PROVISIONS OF ASC 740-10 "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" AS REQUIRED. AS A RESULT OF IMPLEMENTING ASC 740-10, THERE HAS BEEN NO ADJUSTMENT TO THE COOPERATIVE'S FINANCIAL STATEMENTS FOR THE FISCAL YEARS ENDED JUNE 30, 2023 AND 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: VIP INVESTMENT CREDIT 969,572. PART XII, LINE 4B - OTHER ADJUSTMENTS: VIP INVESTMENT CREDIT 969,572. X 0 0 0 BRUCE L PURDY GENERAL MANAGER 278489 0 0 0 0 0 0 0 0 0 278489 0 0 0 BOBBY HICKS TRUSTEE 27865 0 0 0 0 0 0 0 0 0 27865 0 0 0 STEVE CARVER TRUSTEE 27265 0 0 0 0 0 0 0 0 0 27265 0 0 0 MARK DOVER TRUSTEE 27265 0 0 0 0 0 0 0 0 0 27265 0 0 0 JAMES GOINS TRUSTEE 20950 0 0 0 0 0 0 0 0 0 20950 0 0 0 PARKS TUBBS TRUSTEE 17499 0 0 0 0 0 0 0 0 0 17499 0 0 0 LOUIS CROWDER TRUSTEE 13342 0 0 0 0 0 0 0 0 0 13342 0 0 0 WILLARD TOWNSON PRESIDENT 11256 0 0 0 0 0 0 0 0 0 11256 0 0 0 WARREN WHITCHER TRUSTEE 10806 0 0 0 0 0 0 0 0 0 10806 0 0 0 JAMES O'NEAL TRASURER 9390 0 0 0 0 0 0 0 0 0 9390 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 NORTH ALABAMA ELECTRIC COOPERATIVE HAS MEMBERS. ALL MEMBERS HAVE IDENTICAL RIGHTS FORM 990, PART VI, SECTION A, LINE 7A NORTH ALABAMA ELECTRIC COOPERATIVE'S GOVERNING BODY CONSISTS OF TEN TRUSTEES THAT ARE ELECTED BY MEMBERSHIP OF THE COOPERATIVE. EACH TRUSTEE SERVES A THREE YEAR TERM AND REPRESENTS A CERTAIN DISTRICT WITHIN THE TERRITORY SERVED BY THE COOPERATIVE. THE TERMS ARE STAGGERED IN ORDER FOR THE COOPERATIVE TO ONLY HAVE THREE TRUSTEES UP FOR ELECTION IN ANY ONE YEAR. FORM 990, PART VI, SECTION A, LINE 7B THE BUSINESS AND AFFAIRS OF THE COOPERATIVE ARE MANAGED BY THE BOARD OF TRUSTEES WHICH, ACCORDING TO THE BYLAWS, SHALL EXERCISE ALL OF THE POWERS OF THE COOPERATIVE EXCEPT THE POWERS THAT ARE RESERVED TO THE MEMBERS OF THE COOPERATIVE BY LAW, THE COOPERATIVE'S CHARTER, OR THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF FINANCIAL OFFICER ATTENDED THE BOARD MEETING AND PRESENTED THE FORM 990 TO THE TRUSTEES BEFORE IT WAS FILED. EACH TRUSTEE WAS GIVEN A HARD COPY OF THE RETURN TO REVIEW AS IT WAS DISCUSSED BY THE CFO. THE FORM 990 WAS REVIEWED EXTENSIVELY BY THE CFO AND THE GENERAL MANAGER BEFORE THE RETURN WAS FILED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS SALARY SURVEYS OF NEIGHBORING AND LIKE COOPERATIVES (ORGANIZATIONS) IN DETERMINING COMPENSATION FOR KEY EMPLOYEES AND OTHER COMPENSATED INDIVIDUALS FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT ITS OFFICE IN STEVENSON, ALABAMA. FORM 990, PART IX, LINE 24E GENERAL AND ADMINSTRATIVE 2,361,618. DISTRIBUTION EXPENSE 1,519,609. ACCOUNTING AND COLLECTIONS 1,240,074. OPEB EXPENSES 1,135,000. VIP INVESTMENT CREDIT 969,572. FORM 990, PART XI, LINE 9: CHANGE IN MEMBERSHIPS 1,895. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.