Peace River Electric Cooperative Inc
- Assets
- $298.5m
- Revenue
- $110.9m
- Investments
- $0.0
- Employees
- 136
- Location
- Wauchula, FL
- Founding
- 02/1943
- Data as of
- 12/2021
- EIN
- 59-0395398
Organization Overview
Peace River Electric Cooperative Inc is located in Wauchula, FL. The organization was established in 1943. 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, Peace River Electric Cooperative Inc employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peace River Electric Cooperative Inc 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, Peace River Electric Cooperative Inc generated $110.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $110.9m during the year ending 12/2021. While expenses have increased by 2.6% 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
TO PROVIDE OUR MEMBERS RELIABLE ELECTRIC SERVICE AND EXCELLENT CUSTOMER SERVICE AT AFFORDABLE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS. 55,206 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall W Shaw General Mana | Officer | 50 | $346,726 |
Louise F Blackman VP - Member | 45 | $213,079 | |
A Tucker Lemley VP Finance & | 45 | $203,654 | |
Paul A Roberts VP Of Engine | 55 | $192,723 | |
Van Crawford VP Of Operat | 45 | $170,426 | |
James Fones District Off | 45 | $148,766 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Georgia Right-of-way Tree Maintenanc | 12/30/21 | $3,817,909 |
Irby Construction Company Utility Constru | 12/30/21 | $1,529,385 |
Pike Electric Inc Utility Constru | 12/30/21 | $1,874,944 |
Silvey Enterprises Utility Constru | 12/30/21 | $576,926 |
Ruskin Underground Inc Utility Constr. | 12/30/21 | $340,065 |
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 | $110,862,663 |
| Investment income | $40,461 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,925 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $110,943,049 |
| 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 | $7,527,462 |
| Compensation of current officers, directors, key employees. | $571,639 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,359,998 |
| 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 | $5,810,678 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,344,182 |
| Insurance | $0 |
| All other expenses | $2,024,752 |
| Total functional expenses | $110,943,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,749,894 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,451,390 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,356,513 |
| Prepaid expenses and deferred charges | $99,441 |
| Net Land, buildings, and equipment | $245,883,637 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $27,692,937 |
| Intangible assets | $0 |
| Other assets | $251,282 |
| Total assets | $298,485,094 |
| Accounts payable and accrued expenses | $10,696,641 |
| 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 | $168,694,533 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,592,805 |
| Total liabilities | $194,983,979 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $225,735 |
| Paid-in or capital surplus, or land, building, or equipment fund | $3,176,402 |
| Retained earnings, endowment, accumulated income, or other funds | $100,098,978 |
| Total liabilities and net assets/fund balances | $298,485,094 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Lee County Electric Cooperative Inc North Fort Myers, FL | $850,449,864 | $497,387,726 |
Withlacoochee River Electric Cooperative Inc Dade City, FL | $1,217,179,383 | $476,736,829 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sumter Electric Cooperative Inc Sumterville, FL | $962,585,573 | $440,111,118 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Clay Electric Cooperative Inc Keystone Heights, FL | $801,967,548 | $374,561,378 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |
Greystone Power Corporation An Electric Membership Corporation Douglasville, GA | $623,308,885 | $319,065,747 |
Flint Electric Membership Corporation Reynolds, GA | $439,600,941 | $250,834,907 |