Talquin Electric Cooperative Inc
- Assets
- $342.8m
- Revenue
- $155.2m
- Investments
- $122.0k
- Employees
- 197
- Location
- Quincy, FL
- Founding
- 12/1942
- Data as of
- 12/2022
- EIN
- 59-0474475
Organization Overview
Talquin Electric Cooperative Inc is located in Quincy, FL. The organization was established in 1942. 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 12/2022, Talquin Electric Cooperative Inc employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Talquin 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 12/2022, Talquin Electric Cooperative Inc generated $155.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $152.0m during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC SERVICE TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Alexander President | OfficerTrustee | 8.75 | $27,200 |
Carla Pararo Trustee | Trustee | 3.25 | $19,150 |
Sam Fenn Trustee | Trustee | 2.5 | $19,250 |
David B Miller Trustee | Trustee | 1.15 | $20,250 |
Clifford Bristol Vice President | OfficerTrustee | 2 | $17,750 |
Billy Vanlandingham Secretary/treasurer | OfficerTrustee | 4 | $20,550 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gresco Utility Supply Inc Materials & Supplies | 12/30/22 | $4,248,505 |
Pike Electric Inc Distribution Construction | 12/30/22 | $3,439,210 |
Nelson Tree Service Inc Tree Trimming | 12/30/22 | $3,421,922 |
Burford's Tree Llc Tree Trimming | 12/30/22 | $1,925,660 |
Tri-state Utility Products Inc Materials & Supplies | 12/30/22 | $1,613,287 |
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 | $91,477 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,477 |
| Total Program Service Revenue | $154,947,797 |
| Investment income | $99,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,094 |
| Net Gain/Loss on Asset Sales | $63,449 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $155,209,914 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $91,477 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,935,351 |
| Compensation of current officers, directors, key employees. | $1,395,466 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,386,233 |
| 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 | $5,192,945 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,789,677 |
| Insurance | $0 |
| All other expenses | $2,566,945 |
| Total functional expenses | $151,955,639 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,516,225 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,111,888 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,086,902 |
| Inventories for sale or use | $2,337,487 |
| Prepaid expenses and deferred charges | $1,738,275 |
| Net Land, buildings, and equipment | $233,859,490 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $122,049 |
| Investments—program-related | $67,031,054 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $342,803,370 |
| Accounts payable and accrued expenses | $21,196,818 |
| 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 | $172,253,355 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,167,898 |
| Total liabilities | $203,618,071 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $223,645 |
| Paid-in or capital surplus, or land, building, or equipment fund | $7,357,586 |
| Retained earnings, endowment, accumulated income, or other funds | $131,604,068 |
| Total liabilities and net assets/fund balances | $342,803,370 |