Cumberland Electric Membership Corp
- Assets
- $662.6m
- Revenue
- $364.1m
- Investments
- $2.3m
- Employees
- 311
- Location
- Clarksville, TN
- Founding
- 07/1963
- Data as of
- 06/2024
- 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 06/2024, Cumberland Electric Membership Corp employed 311 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 06/2024, Cumberland Electric Membership Corp generated $364.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $343.9m during the year ending 06/2024. While expenses have increased by 4.4% 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
2024
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 114,077 MEMBERS AT JUNE 30, 2024.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Davis General Manager | Officer | 45 | $339,461 |
Annebelle Pittenger Mgr, Admin Div | 44 | $206,814 | |
Mark Cook Manager, Broad Div | 48 | $210,781 | |
William Abernathy Mgr, Oper Div | 47 | $214,350 | |
Michael Blackwell Mgr. District Ops | 50 | $172,414 | |
Brad Taylor Manager Fin Svc | Officer | 44 | $178,936 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Look Great Services Of Ms Inc Right Of Way Clearng | 6/29/24 | $9,864,436 |
Erivn Cable Construction Llc Construction Contractor | 6/29/24 | $14,303,721 |
Stuart C Irby Co Materials | 6/29/24 | $16,596,032 |
Techline Inc Materials | 6/29/24 | $10,286,138 |
Mdr Construction Construction Contractor | 6/29/24 | $10,663,735 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000,000 |
| 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 | $5,000,000 |
| Total Program Service Revenue | $348,932,755 |
| Investment income | $2,925,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,176,616 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $364,091,551 |
| 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. | $944,390 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,212,978 |
| Pension plan accruals and contributions | $6,943,273 |
| Other employee benefits | $5,615,185 |
| Payroll taxes | $2,216,262 |
| 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 | $3,174,994 |
| 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 | $9,166,722 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,199,151 |
| Insurance | $0 |
| All other expenses | $7,583,311 |
| Total functional expenses | $343,919,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $760,156 |
| Savings and temporary cash investments | $36,134,730 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,346,717 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,457,132 |
| Prepaid expenses and deferred charges | $34,587,585 |
| Net Land, buildings, and equipment | $523,246,976 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,296,764 |
| Investments—program-related | $236,223 |
| Intangible assets | $0 |
| Other assets | $12,564,920 |
| Total assets | $662,631,203 |
| Accounts payable and accrued expenses | $34,587,960 |
| Grants payable | $0 |
| Deferred revenue | $1,714,049 |
| 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 | $336,727,883 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,746,217 |
| Total liabilities | $397,776,109 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,078,670 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $263,776,424 |
| Total liabilities and net assets/fund balances | $662,631,203 |