Cumberland Electric Membership Corp
- Assets
- $559.9m
- Revenue
- $327.7m
- Investments
- $2.3m
- Employees
- 307
- Location
- Clarksville, TN
- Founding
- 07/1963
- Data as of
- 06/2022
- EIN
- 62-0174870
Organization Overview
Cumberland Electric Membership Corp is located in Clarksville, TN. The organization was established in 1963. 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 06/2022, Cumberland Electric Membership Corp employed 307 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland Electric Membership Corp 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 06/2022, Cumberland Electric Membership Corp generated $327.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $312.4m during the year ending 06/2022. While expenses have increased by 3.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ELECTRIC AND TELECOMMUNICATIONS COOPERATIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROVIDE ELECTRIC SERVICE AND TELECOMMUNICATION SERVICES TO OUR MEMBERS IN THE MIDDLE TENNESSEE AREA. WE HAD 109,017 MEMBERS AT JUNE 30, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Davis General Manager | Officer | 48 | $240,053 |
Mark Cook Manager, Broad Div | 48 | $176,573 | |
William Abernathy Mgr, Oper Div | 47 | $169,197 | |
Annebelle Pittenger Mgr, Admin Div | 43 | $160,226 | |
Jonathan Fielder Mgr Of Engineering | 43 | $147,282 | |
Brad Taylor Manager Fin Svc | Officer | 41 | $144,205 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mdr Construction Construction Contractor | 6/29/22 | $6,951,207 |
Erivn Cable Construction Llc Construction Contractor | 6/29/22 | $15,107,654 |
A & G Tree Service Right Of Way Clearng | 6/29/22 | $6,705,298 |
Techline Inc Materials | 6/29/22 | $10,123,710 |
Stuart C Irby Co Materials | 6/29/22 | $10,902,662 |
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 | $321,847,235 |
| Investment income | $169,187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $327,722,843 |
| 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. | $877,615 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,028,204 |
| Pension plan accruals and contributions | $6,208,565 |
| Other employee benefits | $5,469,758 |
| Payroll taxes | $2,009,336 |
| 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 | $2,488,033 |
| 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 | $5,870,201 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,119,168 |
| Insurance | $0 |
| All other expenses | $7,429,394 |
| Total functional expenses | $312,425,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,104,740 |
| Savings and temporary cash investments | $36,050,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,668,334 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,620,400 |
| Prepaid expenses and deferred charges | $43,030,310 |
| Net Land, buildings, and equipment | $419,609,200 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,305,433 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,493,770 |
| Total assets | $559,882,187 |
| Accounts payable and accrued expenses | $51,916,103 |
| 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 | $249,917,709 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,953,320 |
| Total liabilities | $323,787,132 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,033,560 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $235,061,495 |
| Total liabilities and net assets/fund balances | $559,882,187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
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 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |