Craig-Botetourt Electric Co-Operative
- Assets
- $37.7m
- Revenue
- $13.9m
- Investments
- $0.0
- Employees
- 35
- Location
- New Castle, VA
- Founding
- 03/1938
- Data as of
- 12/2021
- EIN
- 54-0183175
Organization Overview
Craig-Botetourt Electric Co-Operative is located in New Castle, VA. The organization was established in 1938. 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, Craig-Botetourt Electric Co-Operative employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Craig-Botetourt Electric Co-Operative 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, Craig-Botetourt Electric Co-Operative generated $13.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $13.7m during the year ending 12/2021. While expenses have increased by 0.8% 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
SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES ARE AS FOLLOWS: COST OF POWER: 6,552,418 SALARIES & WAGES: 1,639,992 DISTRIBUTION MAINTENANCE: 1,391,861
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff M Ahearn CEO | Officer | 40 | $137,626 |
James E Huffman Vice Preside | OfficerTrustee | 6.3 | $6,200 |
Jc Winstead Director | Trustee | 4.37 | $6,200 |
Patrick J Ryan Secretary/tr | OfficerTrustee | 3.44 | $5,600 |
Frank R Garman Jr President | OfficerTrustee | 2.3 | $5,200 |
Travis Shrewsbury Asst Secreta | OfficerTrustee | 1.63 | $4,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asplundh Clearing | 12/30/21 | $890,678 |
Fujistu Fiber Project | 12/30/21 | $430,678 |
Dfc Underground Elec Maint | 12/30/21 | $421,642 |
Davis H Elliot Elec Maint | 12/30/21 | $594,695 |
Responsive Technology It Support | 12/30/21 | $183,934 |
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 | $13,521,876 |
| Investment income | $12,670 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $311,091 |
| Net Gain/Loss on Asset Sales | $26,181 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,868,268 |
| 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 | $776,854 |
| Compensation of current officers, directors, key employees. | $214,738 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,639,992 |
| Pension plan accruals and contributions | $282,183 |
| Other employee benefits | $0 |
| Payroll taxes | $142,210 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,892 |
| 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 | $381,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,619 |
| Interest | $729,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,327,437 |
| Insurance | $0 |
| All other expenses | -$679,997 |
| Total functional expenses | $13,736,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,005 |
| Savings and temporary cash investments | $8,633 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,929,675 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $652,743 |
| Prepaid expenses and deferred charges | $138,739 |
| Net Land, buildings, and equipment | $34,272,940 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $696,730 |
| Intangible assets | $0 |
| Other assets | $7,532 |
| Total assets | $37,707,997 |
| Accounts payable and accrued expenses | $1,379,530 |
| 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 | $20,607,432 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,251,820 |
| Total liabilities | $23,238,782 |
| 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 | $14,469,215 |
| Total liabilities and net assets/fund balances | $37,707,997 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Craig-Botetourt Electric Co-Operative has recieved totaling $8,010.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Richmond Richmond, VA PURPOSE: DONOR DIRECTS FUNDS(DESIGNATIONS) FOR ENERGY SHARE | $8,010 |
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 |