Appalachian Electric Cooperative
- Assets
- $279.1m
- Revenue
- $126.3m
- Investments
- $0.0
- Employees
- 122
- Location
- New Market, TN
- Founding
- 02/1943
- Data as of
- 06/2023
- EIN
- 62-0116541
Organization Overview
Appalachian Electric Cooperative is located in New Market, TN. 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 06/2023, Appalachian Electric Cooperative employed 122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Appalachian 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 06/2023, Appalachian Electric Cooperative generated $126.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $121.8m during the year ending 06/2023. While expenses have increased by 3.6% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF ELECTRICITY TO MEMBEROWNERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dale Fain President | Trustee | 12 | $19,877 |
Mark Isom Vice President | Trustee | 8 | $14,773 |
John Austin Secretarytreasurer | Trustee | 9 | $17,614 |
Randy Baxley Director | Trustee | 8 | $15,364 |
Mike Norton Director | Trustee | 12 | $15,744 |
Mike Hicks Director | Trustee | 8 | $15,354 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ervine Cable Construction Fiber Construction | 6/29/23 | $16,592,437 |
Quanta Telecommunications Fiber Construction | 6/29/23 | $16,130,069 |
Service Electric Company Electric Line Construction | 6/29/23 | $6,126,417 |
Xylem Tree Experts Tree Trimming | 6/29/23 | $5,071,941 |
Vantage Point Solutions Fiber Consulting | 6/29/23 | $4,165,174 |
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 | $119,623,655 |
| Investment income | $540,029 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,105,793 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $126,269,477 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $509,461 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,892,920 |
| Pension plan accruals and contributions | $1,869,172 |
| Other employee benefits | $52,164 |
| Payroll taxes | $0 |
| Fees for services: Management | $51,955 |
| Fees for services: Legal | $20,919 |
| Fees for services: Accounting | $41,943 |
| 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 | $2,360,865 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,995,156 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $121,793,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,452,967 |
| Savings and temporary cash investments | $4,184,244 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,327,855 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,398,836 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $228,636,678 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,057,608 |
| Total assets | $279,058,188 |
| Accounts payable and accrued expenses | $19,302,838 |
| 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 | $121,386,882 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,187,750 |
| Total liabilities | $155,877,470 |
| Net assets without donor restrictions | $123,180,718 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $279,058,188 |