Community Electric Cooperative
- Assets
- $59.4m
- Revenue
- $28.7m
- Investments
- $3.5m
- Employees
- 46
- Location
- Windsor, VA
- Founding
- 06/1940
- Data as of
- 12/2023
- EIN
- 54-0178963
Organization Overview
Community Electric Cooperative is located in Windsor, VA. The organization was established in 1940. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Community Electric Cooperative employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Electric 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 12/2023, Community Electric Cooperative generated $28.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $28.7m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF COMMUNITY ELECTRIC COOPERATIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE'S MAJOR PROGRAM SERVICE ACCOMPLISHMENT WAS THE SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 18,049,075 OTHER SALARIES AND WAGES 3,127,393 DEPRECIATION AND AMORTIZATION 2,203,734
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven A Harmon President An | Officer | 42 | $461,831 |
Herman G Presson Mgr Of Opera | 41 | $131,647 | |
Jonathan D Thompson COO | Officer | 40 | $167,463 |
Danny T Beale Lineman | 54 | $148,277 | |
Daryl Walls VP Of Bus De | Officer | 41 | $148,684 |
Jonathan Powell Lead Lineman | 49 | $118,296 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Xylem Tree Experts Right Of Way | 12/30/23 | $748,098 |
River City Construction Inc Construction | 12/30/23 | $584,983 |
Helena Chemical Company Side Trim | 12/30/23 | $100,424 |
Ml Coburn & Co Construction | 12/30/23 | $208,979 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $26,421,063 |
| Investment income | $16,885 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $152,596 |
| Net Gain/Loss on Asset Sales | $12,024 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,702,011 |
| 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. | $1,120,684 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,127,393 |
| Pension plan accruals and contributions | $526,303 |
| Other employee benefits | $0 |
| Payroll taxes | $312,430 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,525 |
| 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 | $797,302 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $62,722 |
| Interest | $992,674 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,203,734 |
| Insurance | $0 |
| All other expenses | -$1,333,425 |
| Total functional expenses | $28,734,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $443,215 |
| Savings and temporary cash investments | $190,888 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,265,194 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,655,101 |
| Prepaid expenses and deferred charges | $1,043,806 |
| Net Land, buildings, and equipment | $33,717,582 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,517,856 |
| Investments—program-related | $12,339,378 |
| Intangible assets | $0 |
| Other assets | $1,202,096 |
| Total assets | $59,375,116 |
| Accounts payable and accrued expenses | $2,964,660 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $24,159,890 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,523,966 |
| Total liabilities | $29,648,516 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $29,726,600 |
| Total liabilities and net assets/fund balances | $59,375,116 |