Citizens Telephone Cooperative
- Assets
- $51.5m
- Revenue
- $17.6m
- Investments
- $2.4m
- Employees
- 77
- Location
- Floyd, VA
- Founding
- 05/2000
- Data as of
- 12/2021
- EIN
- 54-0169578
Organization Overview
Citizens Telephone Cooperative is located in Floyd, VA. The organization was established in 2000. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Citizens Telephone Cooperative employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citizens Telephone Cooperative is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Citizens Telephone Cooperative generated $17.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $14.6m during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CITIZENS TELEPHONE COOPERATIVE PROVIDES TELECOMMUNICATIONS SERVICES, SUCH AS TELEPHONE, INTERNET, CABLE TELEVISION, TRANSPORT, HOME SECURITY, MEDICAL ALERT, AND WEB AND EMAIL HOSTING SERVICES, FOR MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CITIZENS TELEPHONE COOPERATIVE AND ITS SUBSIDIARIES PROVIDE TELEPHONE, INTERNET, CABLE TELEVISION, TRANSPORT, HOME SECURITY, MEDICAL ALERT, AND WEB AND EMAIL HOSTING SERVICES FOR MEMBERS OF THE COOPERATIVE. ADDITIONALLY, THE COOPERATIVE PROVIDES, SELLS, AND LEASES COMMUNICATION EQUIPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Gregory Sapp Ceo/general Manager | Officer | 45 | $178,668 |
Donna Smith COO | Officer | 45 | $96,897 |
Chris J Bond CFO | Officer | 45 | $96,432 |
Wesley Goff President | OfficerTrustee | 1 | $9,987 |
Shelby Quesenberry Secretary | OfficerTrustee | 1 | $9,843 |
Rhonda Turpin Director | Trustee | 1 | $9,255 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stake Center Locating Inc Utility Locating Services | 12/30/21 | $305,360 |
Whiting Construction Inc Line Extension Projects/acam Project | 12/30/21 | $4,801,537 |
Mastec Construction For Acam Fiber Project | 12/30/21 | $1,040,637 |
Chr Solutions Engineering For Acam Fiber Project | 12/30/21 | $445,858 |
Nichols Construction Construction For Acam Fiber Project | 12/30/21 | $239,012 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,756,142 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,756,142 |
| Total Program Service Revenue | $13,841,342 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $32,365 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,510 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,586,773 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $540,088 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $325,861 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,221,075 |
| Insurance | $0 |
| All other expenses | $867,081 |
| Total functional expenses | $14,570,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,257 |
| Savings and temporary cash investments | $1,774,807 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,679,498 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,202,781 |
| Prepaid expenses and deferred charges | $1,525,918 |
| Net Land, buildings, and equipment | $32,562,550 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,413,750 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,204,999 |
| Total assets | $51,526,560 |
| Accounts payable and accrued expenses | $1,434,870 |
| Grants payable | $0 |
| Deferred revenue | $8,987,521 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,166,910 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $267,478 |
| Total liabilities | $21,856,779 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,245 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $29,668,536 |
| Total liabilities and net assets/fund balances | $51,526,560 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Citizens Telephone Cooperative Floyd, VA | $51,526,560 | $17,586,773 |
Maryland Broadband Cooperative Inc Salisbury, MD | $10,221,710 | $7,937,357 |
West Laurel Water Association London, KY | $7,194,602 | $2,712,671 |
Kentucky School Boards Insurance Trust Frankfort, KY | $9,762,236 | $6,954,916 |
East Daviess County Water Association Inc Philpot, KY | $8,177,247 | $1,911,945 |
Alpine Lake Public Utilities Co Terra Alta, WV | $4,532,605 | $1,119,647 |
Kirksville Water Association Richmond, KY | $4,878,304 | $2,383,613 |
Ridge Utilities Inc Louisa, VA | $995,536 | $313,235 |
Jason Water Corporation Snow Hill, NC | $571,862 | $93,678 |
Groundhog Mtn Water & Sewer Company Inc Charlotte, NC | $818,657 | $135,066 |
Groundhog Mountain Property Owners Inc Fancy Gap, VA | $312,730 | $0 |
Cooper Trash Parkout Inc Mc Lean, VA | $133 | $0 |