Highland Telephone Cooperative Inc
- Assets
- $81.1m
- Revenue
- $24.1m
- Investments
- $0.0
- Employees
- 89
- Location
- Sunbright, TN
- Founding
- 05/1963
- Data as of
- 12/2021
- EIN
- 62-0549541
Organization Overview
Highland Telephone Cooperative Inc is located in Sunbright, TN. The organization was established in 1963. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Highland Telephone Cooperative Inc employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Highland Telephone 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, Highland Telephone Cooperative Inc generated $24.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $18.6m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TELECOMMUNICATION SERVICES TO MEMBERS OF THE COOPERATIVE LOCATED IN ITS RURAL SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE COOPERATIVE IS TO PROVIDE TELECOMMUNICATION SERVICES TO ITS MEMBERS LOCATED IN ITS RURAL SERVICE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Mark Patterson General Mgr | Officer | 40 | $278,274 |
Jared A Carson COO | Officer | 40 | $176,762 |
Steven S Armes CFO | Officer | 40 | $133,318 |
Gary Stephens Coe Craftsman | 52 | $129,563 | |
Carl Jones Director | Trustee | 5 | $1,050 |
Stacey R Butler Cable Splicer | 51 | $117,199 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ladd Engineering Engineering | 12/30/21 | $113,292 |
Electricom Right Of Way Right Of Way Work | 12/30/21 | $474,917 |
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 | $22,482,035 |
| Investment income | $1,640,899 |
| 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 | $24,131,946 |
| 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. | $704,815 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $159,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,166,179 |
| Insurance | $0 |
| All other expenses | $1,497,338 |
| Total functional expenses | $18,621,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,793,327 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,978,369 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,167,605 |
| Inventories for sale or use | $1,699,827 |
| Prepaid expenses and deferred charges | $545,886 |
| Net Land, buildings, and equipment | $35,783,028 |
| Investments—publicly traded securities | $10,951,502 |
| Investments—other securities | $0 |
| Investments—program-related | $16,003,606 |
| Intangible assets | $0 |
| Other assets | $66,040 |
| Total assets | $81,089,190 |
| Accounts payable and accrued expenses | $1,099,747 |
| 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 | $8,136,644 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,315,681 |
| Total liabilities | $19,552,072 |
| Net assets without donor restrictions | $0 |
| 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 | $61,537,118 |
| Total liabilities and net assets/fund balances | $81,089,190 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foothills Rural Telephone Cooperative Corp Inc Staffordsville, KY | $122,987,128 | $34,205,893 |
North Central Telephone Cooperative Corp Lafayette, TN | $151,550,123 | $41,901,963 |
Mountain Rural Telephone Cooperative Corporation West Liberty, KY | $142,216,155 | $30,956,573 |
Ben Lomand Rural Telephone Cooperative Inc Mcminnville, TN | $135,020,409 | $32,327,349 |
Dekalb Telephone Cooperative Alexandria, TN | $99,962,174 | $26,158,817 |
Bledsoe Telephone Cooperative Pikeville, TN | $52,661,532 | $24,894,746 |
Peoples Rural Telephone Cooperative Corporation Inc Mckee, KY | $99,458,138 | $24,354,512 |
Pineland Telephone Cooperative Inc Metter, GA | $116,547,882 | $20,356,122 |
Highland Telephone Cooperative Inc Sunbright, TN | $81,089,190 | $24,131,946 |
Bulloch County Rural Telephone Cooperative Inc Statesboro, GA | $84,501,417 | $18,614,322 |
Telecommunication Facilities Corporation St Louis, MO | $37,705,343 | $20,079,070 |
Central Arkansas Telephone Cooperative Inc Bismark, AR | $46,850,759 | $10,682,246 |