Powersouth Energy Cooperative

Andalusia, AL
Tax-exempt since Sept. 1957
EIN: 63-0238274

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Type of Nonprofit

Designated as a 501(c)(12) Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Revenue

$718M (2023)

Expenses

$705M (2023)

Total Assets

$2.73B (2023)

Total Liabilities

$2.32B (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Dec.
2023

Revenue

$718,076,835

Expenses

$704,858,774

Net Income

$13,218,061

Net Assets

$413,890,734

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$709,740,490	98.8%
Investment Income	$7,314,195	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$682,701	0.1%
Net Fundraising	$0
Sales of Assets	$276,029	0.0%
Net Inventory Sales	$0
Other Revenue	$63,420	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$8,699,252	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$2,734,549,230
Total Liabilities	$2,320,658,496
Net Assets	$413,890,734

Club or Co-Op Income
Income From Members	$686,378,758
Income From Other Sources	$32,025,409

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (President/Cfo)	$1,797,559	$0	$346,794
Damon Morgan (Evp/Coo)	$1,243,072	$0	$252,455
Elizabeth Woodard (Evp/Cfo)	$700,301	$0	$183,121
Horace Horn (Senior Vp Of External Affairs)	$518,027	$0	$134,104
Art Brunson (Vp Of Legal And Corporate Affairs)	$418,257	$0	$120,584
Matthew Diamond (Vp Of Member Services And Communications)	$364,892	$0	$111,786
Ron Graham (Vp Of Power Supply)	$353,893	$0	$108,929
Joe Armstrong (Vp Of Engineering & Operations)	$329,714	$0	$104,533
John Matheson (Vp Of Power Production)	$312,757	$0	$104,533
Taylor Williams (Vp Of External Affairs)	$298,619	$0	$102,175
Jonathan Ellison (Director Of Technical Services)	$252,108	$0	$72,193
Julian Farrington (Manager Of Planning, Compliance & Regulatory)	$232,521	$0	$77,358
James Hattaway (Energy Services Manager)	$231,016	$0	$78,228
David Pearce (Bulk Power, Fuels & Energy Resources Manager)	$208,960	$0	$64,770
James Grimes (Power Production Engineering Manager)	$206,343	$0	$74,875
Tom Duncan (Board Member)	$25,803	$0	$0
Rodney Harrison (Board Member)	$24,497	$0	$0
Stacey Parker (Board Member)	$23,903	$0	$0
Tom Stackhouse (Board Member)	$22,953	$0	$0
Gary Harrison (Board Member)	$22,903	$0	$0
Gerald Edmondson (Board Member)	$22,803	$0	$0
Isabell Boyd (Board Member)	$22,602	$0	$0
Willie Smith (Board Member)	$22,452	$0	$0
David Bailey (Board Member)	$21,953	$0	$0
Joe Rone (Board Member)	$21,503	$0	$0
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990

Filed on Nov. 4, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$852,552,468

Expenses

$840,042,244

Net Income

$12,510,224

Net Assets

$418,857,516

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$846,511,214	99.3%
Investment Income	$4,207,840	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$3,926
Net Inventory Sales	$0
Other Revenue	$1,837,340	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$13,943,521	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$46,933,745	5.6%

Assets/Debt
Total Assets	$2,529,005,112
Total Liabilities	$2,110,147,596
Net Assets	$418,857,516

Club or Co-Op Income
Income From Members	$836,376,290
Income From Other Sources	$11,972,264

Compensation

Key Employees and Officers	Compensation	Related	Other
Damon Morgan (Coo/Vp)	$6,736,847	$0	$237,146
Gary Smith (Ceo/President)	$1,830,250	$0	$328,548
Elizabeth Woodard (Cfo/Vp)	$652,807	$0	$171,991
Horace Horn (Vp Of External Affairs)	$491,672	$0	$127,382
Art Brunson (Vp Of Legal And Compliance)	$391,861	$0	$112,185
Matthew Diamond (Vp Of Member Services And Communications)	$338,730	$0	$78,028
Ron Graham (Vp Of Power Supply)	$331,606	$0	$104,202
Joe Armstrong (Vp Of Engineering And Operations)	$309,235	$0	$99,977
John Matheson (Vp Of Power Productions)	$306,127	$0	$99,978
Taylor Williams (Director Of External Affairs)	$278,140	$0	$97,027
Terry Wilson (Director Of T&D Operations)	$253,029	$0	$81,989
Debra Bracewell (Manager Of Human Resources)	$246,723	$0	$69,522
Jonathan Ellison (Director Of Technical Serv)	$236,878	$0	$68,986
David Wyatt (Central Generation Plant M)	$224,223	$0	$64,455
Jimmy Shaver (Board Member)	$28,161	$0	$0
Willie Wright (Board Member)	$22,804	$0	$0
Thomas Duncan (Board Member)	$22,404	$0	$0
Gerald Edmondson (Board Member)	$22,403	$0	$0
Stacey Parker (Board Member)	$22,403	$0	$0
Steven Sheffield (Board Member)	$22,400	$0	$0
David Bailey (Board Member)	$22,003	$0	$0
Terry Moseley (Board Member)	$21,604	$0	$0
Isabell Boyd (Board Member)	$21,602	$0	$0
Rodney Harrison (Board Member)	$21,408	$0	$0
Wiregrass Electric Cooperative (Board Member)	$21,204	$0	$0
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990

Filed on Nov. 15, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$643,376,000

Expenses

$630,900,963

Net Income

$12,475,037

Net Assets

$406,347,292

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$639,809,830	99.4%
Investment Income	$1,361,270	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$430,873	0.1%
Net Inventory Sales	$0
Other Revenue	$1,774,027	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$9,276,597	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$48,700,781	7.7%

Assets/Debt
Total Assets	$2,439,100,863
Total Liabilities	$2,032,753,571
Net Assets	$406,347,292

Club or Co-Op Income
Income From Members	$634,009,656
Income From Other Sources	$3,088,603

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (Ceo/President)	$1,677,015	$0	$296,555
Damon Morgan (Coo)	$1,483,648	$0	$211,435
Leigh Grantham (Vp Of Member Services And)	$1,177,238	$0	$122,138
Elizabeth Woodard (Cfo)	$626,068	$0	$153,888
Horace Horn (Vp Of External Affairs)	$487,403	$0	$118,799
Seth Hammett (Vp Of Business Development)	$423,611	$0	$94,558
Art Brunson (Vp Of Legal And Compliance)	$352,630	$0	$101,239
Ron Graham (Vp Of Power Supply)	$307,188	$0	$91,492
Joe Armstrong (Director Of Engineering)	$285,312	$0	$77,002
John Matheson (Vp Of Power Productions)	$285,275	$0	$88,680
Terry Wilson (Director Of T&D Operations)	$236,282	$0	$78,258
Jonathan Ellison (Director Of Technical Services)	$222,978	$0	$52,851
David Wyatt (Central Generation Plant M)	$217,587	$0	$61,603
Jj Farrington (Manager Of Planning, Compl)	$213,228	$0	$70,553
Tim Hattaway (Energy Services Manager)	$205,814	$0	$69,882
Jimmy Shaver (Board Member)	$24,981	$0	$0
Thomas Duncan (Board Member)	$23,603	$0	$0
Ed Short (Board Member)	$23,601	$0	$0
Terry Moseley (Board Member)	$23,203	$0	$0
Gerald Edmondson (Board Member)	$23,203	$0	$0
Stacey Parker (Board Member)	$22,803	$0	$0
Wiregrass Electric Cooperative (Board Member)	$22,403	$0	$0
Chase Riddle (Board Member)	$22,004	$0	$0
Tom Stackhouse (Board Member)	$22,003	$0	$0
John Bartley (Board Member)	$22,003	$0	$0
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990

Filed on Nov. 8, 2022

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Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending Dec.
2020

Revenue

$554,609,907

Expenses

$541,897,304

Net Income

$12,712,603

Net Assets

$393,872,255

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$547,161,468	98.7%
Investment Income	$3,383,542	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$19,839	0.0%
Net Inventory Sales	$0
Other Revenue	$4,045,058	0.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,970,885	1.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$49,606,655	9.2%

Assets/Debt
Total Assets	$2,174,864,173
Total Liabilities	$1,780,991,918
Net Assets	$393,872,255

Club or Co-Op Income
Income From Members	$546,188,309
Income From Other Sources	$5,018,217

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (Ceo/President)	$1,470,408	$0	$270,057
Damon Morgan (Coo)	$1,012,742	$0	$191,152
Elizabeth Woodard (Cfo)	$526,315	$0	$139,429
Horace Horn (Vp Of External Affairs)	$399,955	$0	$111,325
Leigh Grantham (Vp Of Member Services And)	$388,188	$0	$114,786
Seth Hammett (Vp Of Business Development)	$356,599	$0	$89,831
Art Brunson (Vp Of Legal And Compliance)	$302,667	$0	$92,034
Ron Graham (Vp Of Power Supply)	$264,543	$0	$85,693
John Matheson (Vp Of Power Productions)	$252,288	$0	$82,967
Terry Wilson (Director Of T&D Operations)	$215,360	$0	$74,431
Joe Armstrong (Director Of Engineering)	$202,507	$0	$70,150
Matthew Diamond (Bulk Power, Fuels & Energy Resources Manager)	$197,556	$0	$63,691
David Wyatt (Central Generation Plant M)	$196,578	$0	$57,894
Jj Farrington (Manager Of Planning, Compl)	$195,570	$0	$67,593
Randy Bush (Board Member)	$30,105	$0	$0
Jimmy Shaver (Board Member)	$24,203	$0	$0
Randy Brannon (Board Member)	$23,603	$0	$0
Stacey Parker (Board Member)	$23,603	$0	$0
Thomas Duncan (Board Member)	$23,203	$0	$0
Ed Short (Board Member)	$23,201	$0	$0
Tim Johnson (Board Member)	$23,096	$0	$0
Tom Stackhouse (Board Member)	$22,403	$0	$0
Joseph Coleman (Board Member)	$22,403	$0	$0
Wiregrass Electric Cooperative (Board Member)	$21,603	$0	$0
Leland Fuller (Board Member)	$21,601	$0	$0
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990

Filed on Nov. 15, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$612,215,936

Expenses

$598,525,844

Net Income

$13,690,092

Net Assets

$381,159,652

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$602,255,198	98.4%
Investment Income	$7,445,226	1.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$94,363	0.0%
Net Inventory Sales	$0
Other Revenue	$2,421,149	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,862,757	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$47,998,767	8.0%

Assets/Debt
Total Assets	$1,859,336,399
Total Liabilities	$1,478,176,747
Net Assets	$381,159,652

Club or Co-Op Income
Income From Members	$601,049,188
Income From Other Sources	$3,627,159

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (Ceo/President)	$1,368,155	$0	$253,199
Damon Morgan (Coo)	$1,020,335	$0	$174,708
Elizabeth Woodard (Cfo)	$520,097	$0	$129,771
Horace Horn (Vp Of External Affairs)	$465,423	$0	$99,609
Leigh Grantham (Vp Of Member Services And)	$395,436	$0	$108,531
Seth Hammett (Vp Of Business Development)	$378,917	$0	$85,320
Art Brunson (Vp Of Legal And Compliance)	$300,645	$0	$85,728
Ron Graham (Vp Of Power Supply)	$279,438	$0	$80,631
John Matheson (Vp Of Power Productions)	$251,545	$0	$78,869
Terry Wilson (Director Of T&D Operations)	$227,408	$0	$70,103
Joe Armstrong (Director Of Engineering)	$208,932	$0	$65,969
Jj Farrington (Manager Of Planning, Compl)	$203,961	$0	$63,919
David Wyatt (Central Generation Plant M)	$198,454	$0	$55,090
Tim Hattaway (Energy Services Manager)	$195,492	$0	$62,678
Randy Bush (Board Member)	$29,003	$0	$0
Tim Johnson (Board Member)	$24,603	$0	$0
Tom Stackhouse (Board Member)	$23,603	$0	$0
Stacey Parker (Board Member)	$23,603	$0	$0
Thomas Duncan (Board Member)	$23,203	$0	$0
Randy Brannon (Board Member)	$22,803	$0	$0
Joseph Coleman (Board Member)	$22,803	$0	$0
Jimmy Shaver (Board Member)	$22,603	$0	$0
Tallapoosa River Electric (Board Member)	$22,403	$0	$0
David Bailey (Board Member)	$22,003	$0	$0
Wiregrass Electric Cooperative (Board Member)	$21,603	$0	$0
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990

Filed on Nov. 16, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$621,022,221

Expenses

$608,949,712

Net Income

$12,072,509

Net Assets

$367,469,560

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$612,556,144	98.6%
Investment Income	$6,150,310	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$75,191	0.0%
Net Inventory Sales	$0
Other Revenue	$2,240,576	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,176,099	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$55,786,014	9.2%

Assets/Debt
Total Assets	$1,738,635,908
Total Liabilities	$1,371,166,348
Net Assets	$367,469,560

Club or Co-Op Income
Income From Members	$609,340,196
Income From Other Sources	$11,682,025

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (Ceo/President)	$1,281,654	$0	$237,059
Rick Kyle (Cfo)	$1,035,278	$0	$37,511
Damon Morgan (Coo)	$715,500	$0	$159,849
Horace Horn (Vp Of External Affairs)	$531,782	$0	$94,975
Elizabeth Woodard (Cfo)	$423,491	$0	$118,990
Seth Hammett (Vp Of Business Development)	$340,557	$0	$81,953
Leigh Grantham (Vp Of Member Services And)	$319,268	$0	$103,664
Art Brunson (Vp Of Legal And Compliance)	$254,198	$0	$81,746
Ron Graham (Vp Of Power Supply)	$241,002	$0	$76,827
John Matheson (Vp Of Power Productions)	$230,028	$0	$68,901
Terry Wilson (Director Of T&D Operations)	$213,372	$0	$67,684
Joe Armstrong (Director Of Engineering)	$194,198	$0	$56,858
David Wyatt (Central Generation Plant Manager)	$183,087	$0	$52,631
Jj Farrington (Manager Of Planning, Compliance & Regulatory)	$181,991	$0	$62,231
Tim Hattaway (Energy Services Manager)	$179,589	$0	$60,928
Jimmy Shaver (Board Member)	$25,373	$0	$0
Tim Johnson (Board Member)	$25,193	$0	$0
Joseph Coleman (Board Member)	$22,003	$0	$0
Van Smith (Board Member)	$21,203	$0	$0
Wiregrass Electric Cooperative (Board Member)	$20,803	$0	$0
Randy Bush (Board Member)	$20,803	$0	$0
Randy Brannon (Board Member)	$20,403	$0	$0
Bruce Boswell (Board Member)	$20,403	$0	$0
Thomas Duncan (Board Member)	$20,003	$0	$0
Terry Moseley (Board Member)	$20,003	$0	$0
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990

Filed on Nov. 13, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$595,870,001

Expenses

$586,248,395

Net Income

$9,621,606

Net Assets

$355,397,051

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$588,641,708	98.8%
Investment Income	$4,797,792	0.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$321,625	0.1%
Net Inventory Sales	$0
Other Revenue	$2,108,876	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$8,900,009	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$48,434,684	8.3%

Assets/Debt
Total Assets	$1,731,764,417
Total Liabilities	$1,376,367,366
Net Assets	$355,397,051

Club or Co-Op Income
Income From Members	$586,925,878
Income From Other Sources	$8,944,123

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (Ceo/President)	$4,721,969	$0	$218,832
Damon Morgan (Coo)	$668,222	$0	$148,238
Beth Woodard (Vp Of Legal/Corporate Affairs)	$422,575	$0	$110,890
Rick Kyle (Vp/Cfo)	$400,109	$0	$104,389
Horace Horn (Vp Of External Affairs)	$369,214	$0	$90,205
Leigh Grantham (Vp Of Member Services And Communications)	$355,320	$0	$99,016
Seth Hammett (Vp Of Business Development)	$329,530	$0	$77,958
David Powell (Director Of Power Production)	$276,579	$0	$73,674
Ron Graham (Director Of Power Supply)	$230,211	$0	$68,365
Art Brunson (Director Of Legal Affairs)	$216,181	$0	$64,579
Terry Wilson (Director Of T&D Operations)	$204,366	$0	$64,628
John Matheson (Director Of Engineering)	$200,184	$0	$64,596
Tim Johnson (Board Member)	$25,943	$0	$7,593
Ed Short (Board Member)	$25,516	$0	$7,591
Ellis Nichols (Board Member)	$24,260	$0	$6,960
Jimmy Shaver (Board Member)	$23,257	$0	$8,107
Russell Dunaway (Board Member)	$21,928	$0	$0
James Wilson (Board Member)	$21,903	$0	$0
Joseph Coleman (Board Member)	$21,128	$0	$0
Van Smith (Board Member)	$21,128	$0	$0
Wiregrass Electric Cooperative (Board Member)	$20,328	$0	$0
David Bailey (Board Member)	$20,328	$0	$0
Tom Stackhouse (Board Member)	$19,928	$0	$0
Phillip Bryant (Board Member)	$19,928	$0	$0
Randy Brannon (Board Member)	$19,903	$0	$0
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990

Filed on Oct. 26, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$603,990,395

Expenses

$590,686,484

Net Income

$13,303,911

Net Assets

$345,775,445

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$596,390,518	98.7%
Investment Income	$4,503,881	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$153,794
Net Inventory Sales	$0
Other Revenue	$3,249,790	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,893,348	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$46,196,901	7.8%

Assets/Debt
Total Assets	$1,789,597,151
Total Liabilities	$1,443,821,706
Net Assets	$345,775,445

Club or Co-Op Income
Income From Members	$594,911,655
Income From Other Sources	$9,078,740

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (Ceo/President)	$944,779	$0	$196,538
Damon Morgan (Coo)	$624,165	$0	$137,125
Beth Woodard (Vp Of Legal/Corporate Affairs)	$427,547	$0	$103,220
Rick Kyle (Vp/Cfo)	$386,401	$0	$97,306
Horace Horn (Vp Of External Affairs)	$350,899	$0	$84,291
Leigh Grantham (Vp Of Member Services And Communications)	$345,019	$0	$87,687
Seth Hammett (Vp Of Business Development)	$316,015	$0	$73,623
David Powell (Director Of Power Production)	$258,161	$0	$68,897
Ron Graham (Director Of Power Supply)	$211,277	$0	$64,094
John Matheson (Director Of Engineering)	$198,656	$0	$61,774
Terry Wilson (Director Of T&D Operations)	$195,949	$0	$61,774
Art Brunson (Director Of Legal Affairs And Compliance)	$188,589	$0	$61,229
Ellis Nichols (Board Member)	$27,043	$0	$7,590
Gulf Coast Electric Cooperative (Board Member)	$27,040	$0	$0
James Wilson (Board Member)	$20,953	$0	$0
Wiregrass Electric Cooperative (Board Member)	$19,553	$0	$0
Doug Birmingham (Board Member)	$19,553	$0	$0
Randy Brannon (Board Member)	$19,453	$0	$0
Joseph Coleman (Board Member)	$19,178	$0	$0
Karen Moore (Board Member)	$19,178	$0	$0
Gary Harrison (Board Member)	$19,078	$0	$0
Stephen Rhodes (Board Member)	$18,803	$0	$0
Phillip Bryant (Board Member)	$18,803	$0	$0
Tom Stackhouse (Board Member)	$18,428	$0	$0
Terry Moseley (Board Member)	$18,053	$0	$0
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990

Filed on Nov. 14, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$628,861,513

Expenses

$611,762,886

Net Income

$17,098,627

Net Assets

$332,471,534

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$622,941,704	99.1%
Investment Income	$5,355,060	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$564,749	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,705,195	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,135,469	0.2%

Assets/Debt
Total Assets	$1,845,739,925
Total Liabilities	$1,513,268,391
Net Assets	$332,471,534

Club or Co-Op Income
Income From Members	$619,547,614
Income From Other Sources	$9,313,899

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (President / Ceo)	$892,950	$0	$83,037
Damon Morgan (Coo)	$583,034	$0	$83,037
Beth Woodard (Vice President Of Legal And Corporate Affairs)	$373,612	$0	$83,037
Rick Kyle (Vp / Cfo)	$357,370	$0	$82,904
Horace Horn (Vice President Of External Affairs)	$340,294	$0	$75,823
Leigh Grantham (Vice President Of Member Services And Communications)	$327,793	$0	$76,463
Seth Hammett (Vice President Of Business Development)	$293,314	$0	$70,500
David Powell (Director Of Power Production)	$250,372	$0	$65,694
Ron Graham (Director Of Power Supply)	$200,999	$0	$61,683
Terry Wilson (Director Of T And D Operations)	$188,957	$0	$59,960
Art Brunson (Director Of Legal Affairs And Compliance)	$186,402	$0	$57,738
John Matheson (Director Of Engineering)	$184,508	$0	$59,960
Branson Williams (Fuels Manager)	$178,394	$0	$57,198
Jj Farrington (Manager Of Planning, Compliance And Regulatory)	$177,729	$0	$56,197
Otho Davis (Mc Intosh Plant Manager)	$173,734	$0	$53,632
David Wyatt (Central Generation Plant Manager)	$169,984	$0	$45,741
Tim Hattaway (Energy Control Center Manager)	$168,542	$0	$54,318
Gulf Coast Electric Cooperative (Board Member)	$25,575	$0	$0
Ellis Nichols (Board Member)	$25,003	$0	$0
James Wilson (Board Member)	$18,953	$0	$0
Gary Harrison (Board Member)	$18,678	$0	$0
Wiregrass Electric Cooperative (Board Member)	$18,400	$0	$0
Clay Campbell (Board Member)	$18,128	$0	$0
Joseph Coleman (Board Member)	$18,128	$0	$0
Randy Brannon (Board Member)	$17,853	$0	$0
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990

Filed on Aug. 11, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2014

Revenue

$682,617,062

Expenses

$665,686,843

Net Income

$16,930,219

Net Assets

$315,372,907

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$675,898,650	99.0%
Investment Income	$5,832,639	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$885,773	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,632,176	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,151,488	0.2%

Assets/Debt
Total Assets	$1,827,325,328
Total Liabilities	$1,511,952,421
Net Assets	$315,372,907

Club or Co-Op Income
Income From Members	$671,587,972
Income From Other Sources	$11,029,090

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (President / Ceo)	$859,355	$0	$166,968
Damon Morgan (Coo)	$560,823	$0	$125,744
Beth Woodard (Vice President Of Legal And Corporate Affairs)	$363,989	$0	$96,399
Rick Kyle (Vp / Cfo)	$342,962	$0	$88,460
Horace Horn (Vice President Of External Affairs)	$328,426	$0	$80,774
Seth Hammett (Vice President Of Business Development)	$301,623	$0	$68,936
David Powell (Director Of Power Production)	$251,838	$0	$65,439
John Matheson (Director Of Engineering)	$239,482	$0	$53,310
Leigh Grantham (Vice President Of Member Services And Communications)	$238,819	$0	$41,075
Ron Graham (Director Of Power Supply)	$196,048	$0	$58,837
Robert Meyer (Project Manager Of Plant Construction)	$185,908	$0	$53,577
Terry Wilson (Director Of T And D Operations)	$180,130	$0	$54,909
Branson Williams (Fuels Manager)	$179,626	$0	$57,115
Jj Farrington (Manager Of Planning, Compliance And Regulatory)	$176,726	$0	$55,847
Art Brunson (Director Of Legal Affairs And Compliance)	$174,885	$0	$52,745
Otho Davis (Mc Intosh Plant Manager)	$172,115	$0	$53,606
David Wyatt (Central Generation Plant Manager)	$170,525	$0	$46,441
Ellis Nichols (Board Member)	$24,896	$0	$0
Gulf Coast Electric Cooperative (Board Member)	$19,800	$0	$0
Gary Harrison (Board Member)	$18,978	$0	$0
Clay Campbell (Board Member)	$18,703	$0	$0
Ea Jakins (Board Member)	$18,428	$0	$0
Wiregrass Electric Cooperative (Board Member)	$18,250	$0	$0
Ed Short (Board Member)	$18,151	$0	$0
Thomas Duncan (Board Member)	$17,978	$0	$0
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990

Filed on Aug. 12, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$618,294,946

Expenses

$593,111,322

Net Income

$25,183,624

Net Assets

$298,442,688

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$609,741,541	98.6%
Investment Income	$7,929,255	1.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$624,150	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,088,844	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$995,849	0.2%

Assets/Debt
Total Assets	$1,802,274,497
Total Liabilities	$1,503,831,809
Net Assets	$298,442,688

Club or Co-Op Income
Income From Members	$606,212,977
Income From Other Sources	$12,081,969

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Smith (President / Ceo)	$773,685	$0	$189,067
Damon Morgan (Vice President)	$484,630	$0	$129,522
Larry Avery (Vice President)	$417,876	$0	$104,794
Beth Woodard (Vice President)	$325,861	$0	$106,734
Horace Horn (Vice President)	$305,732	$0	$89,516
Rick Kyle (Vp / Cfo)	$282,642	$0	$69,934
Seth Hammett (Vice President)	$276,324	$0	$76,693
David Powell (Director)	$226,191	$0	$75,772
Robert Meyer (Manager)	$173,294	$0	$60,013
Jj Farrington (Manager)	$167,960	$0	$62,037
Ron Graham (Director)	$167,604	$0	$57,259
Branson Williams (Manager)	$167,476	$0	$63,461
Otho Davis (Plant Manager)	$164,210	$0	$59,809
Scott Wright (Superintendent)	$163,304	$0	$48,317
David Wyatt (Manager)	$163,063	$0	$51,604
Sammy Hogg (Manager)	$160,588	$0	$62,565
Tim Hattaway (Manager)	$155,347	$0	$56,571
Terry Wilson (Manager)	$155,213	$0	$59,850
Ferrell Walton (Vice President / Cfo)	$152,139	$0	$53,500
Craig Kilpatrick (Manager)	$147,889	$0	$56,756
Art Brunson (Manager)	$146,767	$0	$57,118
John Matheson (Manager)	$146,108	$0	$57,470
Keith Stephens (Manager)	$145,763	$0	$41,635
Debbie Marcum (Manager)	$140,777	$0	$55,566
Michael E White (Board Member)	$26,743	$0	$0
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990

Filed on Aug. 12, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

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PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$599,264,838

Expenses

$572,052,048

Net Income

$27,212,790

Net Assets

$273,259,064

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$591,711,099	98.7%
Investment Income	$7,026,994	1.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$526,745	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,630,005	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$990,467	0.2%

Assets/Debt
Total Assets	$1,787,842,183
Total Liabilities	$1,514,583,119
Net Assets	$273,259,064

Club or Co-Op Income
Income From Members	$587,296,832
Income From Other Sources	$11,968,006

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$647,621,614

Expenses

$620,447,934

Net Income

$27,173,680

Net Assets

$246,046,274

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$640,182,688	98.9%
Investment Income	$7,045,906	1.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$393,020	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,194,057	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$938,767	0.2%

Assets/Debt
Total Assets	$1,852,800,880
Total Liabilities	$1,606,754,606
Net Assets	$246,046,274

Club or Co-Op Income
Income From Members	$629,638,690
Income From Other Sources	$17,982,924

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 3) PDF (3 of 3)

Fiscal Year Ending Dec.
2004

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated December 20, 2024

Powersouth Energy Cooperative

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $718M (2023)

Expenses $705M (2023)

Total Assets $2.73B (2023)

Total Liabilities $2.32B (2023)

Tax Filings and Audits by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

Revenue

$718M (2023)

Expenses

$705M (2023)

Total Assets

$2.73B (2023)

Total Liabilities

$2.32B (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004