Community Electric Cooperative
- Assets
- $55.2m
- Revenue
- $23.3m
- Investments
- $4.1m
- Employees
- 44
- Location
- Windsor, VA
- Founding
- 06/1940
- Data as of
- 12/2021
- 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 12/2021, Community Electric Cooperative employed 44 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 12/2021, Community Electric Cooperative generated $23.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $22.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. 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
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 13,467,047 OTHER SALARIES AND WAGES 2,627,939 DEPRECIATION AND AMORTIZATION 2,036,338
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven A Harmon President An | Officer | 41 | $417,166 |
Jonathan D Thompson COO | Officer | 40 | $144,266 |
Danny T Beale Lineman | 53 | $126,785 | |
Daryl Walls VP Of Bus De | Officer | 41 | $122,321 |
William Holland Serviceman 1 | 53 | $118,788 | |
Danielle Beale Mgr Of Accou | 41 | $109,630 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Xylem Tree Experts Right Of Way | 12/30/21 | $523,298 |
Helena Chemical Company Side Trim | 12/30/21 | $324,025 |
River City Construction Inc Construction | 12/30/21 | $226,370 |
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 | $21,339,595 |
| Investment income | $25,429 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $151,165 |
| Net Gain/Loss on Asset Sales | $32,700 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,292,666 |
| 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 | $831,568 |
| Compensation of current officers, directors, key employees. | $1,037,375 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,627,939 |
| Pension plan accruals and contributions | $400,215 |
| Other employee benefits | $0 |
| Payroll taxes | $264,935 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,603 |
| 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 | $645,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $55,593 |
| Interest | $668,450 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,036,338 |
| Insurance | $0 |
| All other expenses | -$1,915,236 |
| Total functional expenses | $22,651,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $605,630 |
| Savings and temporary cash investments | $138,207 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,639,048 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,168,932 |
| Prepaid expenses and deferred charges | $972,121 |
| Net Land, buildings, and equipment | $31,394,042 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,054,737 |
| Investments—program-related | $12,162,020 |
| Intangible assets | $0 |
| Other assets | $1,030,723 |
| Total assets | $55,165,460 |
| Accounts payable and accrued expenses | $2,379,452 |
| 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 | $21,103,532 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,015,400 |
| Total liabilities | $25,498,384 |
| 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 | $29,667,076 |
| Total liabilities and net assets/fund balances | $55,165,460 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Community Electric Cooperative has recieved totaling $6,546.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Richmond Richmond, VA PURPOSE: DONOR DIRECTS FUNDS(DESIGNATIONS) FOR ENERGY SHARE | $6,546 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tideland Electric Membership Corp Pantego, NC | $155,003,665 | $49,716,262 |
Shelby Energy Cooperative Inc Shelbyville, KY | $128,023,912 | $48,869,118 |
Pee Dee Electric Membership Corporation Wadesboro, NC | $143,974,115 | $47,288,455 |
Haywood Electric Membership Corporation Waynesville, NC | $163,078,361 | $47,361,396 |
Cumberland Valley Electric Co-Op Corp Gray, KY | $124,042,321 | $47,250,559 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
Tennessee Valley Electric Cooperative Savannah, TN | $70,169,300 | $47,105,536 |
Roanoke Electric Membership Corp Aulander, NC | $130,270,619 | $41,342,380 |
Prince George Electric Cooperative Waverly, VA | $95,021,320 | $41,941,155 |
Plateau Electric Cooperative Oneida, TN | $68,557,070 | $43,303,901 |
Northern Neck Electric Cooperative Inc Warsaw, VA | $102,277,241 | $40,320,421 |
Grayson Rural Electric Cooperative Corporation Grayson, KY | $91,917,122 | $34,250,791 |