Sumter Electric Cooperative Inc

Organization Overview

Sumter Electric Cooperative Inc is located in Sumterville, FL. The organization was established in 1939. 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, Sumter Electric Cooperative Inc employed 462 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sumter 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, Sumter Electric Cooperative Inc generated $440.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $427.0m during the year ending 12/2021. While expenses have increased by 2.1% 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.

Since 2015, Sumter Electric Cooperative Inc has awarded 19 individual grants totaling $341,748. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SATISFY CUSTOMERS BY PROVIDING RELIABLE COMPETITIVELY PRICED ELECTRICITY AND RELATED SERVICES IN A FINANCIALLY SOUND MANNER.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SALE AND DISTRIBUTION OF ELECTRICITY TO 222,054 ACCOUNTS IN THE COOPERATIVE'S SERVICE AREA.


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Board, Officers & Key Employees

Name (title)Compensation
James P Duncan
CEO - Exitin
$1,156,511
John Laselva
VP Of Operat
$471,190
Eugene V Kanikovsky
CFO
$419,068
Greggory H Morrell
VP Of Hr & C
$400,149
Kathryn E Gloria
VP Cor Comm
$382,529
Micheal White
VP Of Engine
$354,947

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Pike Electric Inc
Line Construct.
$11,328,148
Nelson Tree Service Inc
Vegetation Mgmt
$9,909,662
Wright Tree Service
Vegetation Mgmt
$11,945,756
Flyway Access Llc
Vegetation Mgmt
$6,723,617
Ivy H Smith Company Llc
Line Construct.
$10,085,719
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $8,441,200
All other contributions, gifts, grants, and similar amounts not included above$59,698
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$8,500,898
Total Program Service Revenue$430,554,257
Investment income $370,435
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $35,295
Net Gain/Loss on Asset Sales $650,233
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $440,111,118

Grants Awarded

Over the last fiscal year, Sumter Electric Cooperative Inc has awarded $21,750 in support to 2 organizations.

Grant RecipientAmount

UNITED WAY OF MARION COUNTY

Org PageRecipient Profile

Ocala, FL

PURPOSE: SEE SCH. I, PART IV

$11,250

UNITED WAY OF LAKE & SUMTER COUNTY

Org PageRecipient Profile

Leesburg, FL

PURPOSE: SEE SCH. I, PART IV

$10,500
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Sumter Electric Cooperative Inc has recieved totaling $71,967.

Awarding OrganizationAmount
Florida Electric Cooperatives Assn

Tallahassee, FL

PURPOSE: HURRICANE RELIEF

$71,967
View Grant Recipient Profile

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