Central Alabama Electric Cooperative
- Assets
- $339.1m
- Revenue
- $97.5m
- Investments
- $0.0
- Employees
- 160
- Location
- Prattville, AL
- Founding
- 03/1964
- Data as of
- 12/2021
- EIN
- 63-0038505
Organization Overview
Central Alabama Electric Cooperative is located in Prattville, AL. The organization was established in 1964. 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 12/2021, Central Alabama Electric Cooperative employed 160 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Alabama 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 12/2021, Central Alabama Electric Cooperative generated $97.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $94.6m during the year ending 12/2021. While expenses have increased by 0.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE UTILITY SERVICE TO COOPERATIVE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC UTILITY SERVICE TO APPROXIMATELY 35,410 COOPERATIVE MEMBERS.
PROVIDED ELECTRIC UTILITY SERVICE TO APPROXIMATELY 35,410 COOPERATIVE MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Stackhouse President/ce | Officer | 60 | $545,439 |
Julie Young VP Business | Officer | 55 | $208,887 |
James Gray VP Engineer/ | Officer | 50 | $207,102 |
Damali Clark VP Corp/fina | Officer | 35 | $188,850 |
Aaron Ismail VP Customer/ | 40 | $163,142 | |
Joel Collier Mgr-Operatio | 55 | $158,099 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marshall Design-build Llc Contract Serv. | 12/30/21 | $2,012,077 |
Heritage Communication Contract Serv. | 12/30/21 | $12,028,648 |
Fiberrise Communications Consulting | 12/30/21 | $1,627,603 |
Asplundh Row Expenses | 12/30/21 | $4,764,678 |
Petty Line Construction Row Expenses | 12/30/21 | $1,663,878 |
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 | $94,393,351 |
| Investment income | $41,948 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,478,176 |
| 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 | $97,489,806 |
| 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 | $439,434 |
| Compensation of current officers, directors, key employees. | $1,621,744 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $762,965 |
| 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 | $6,131,831 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,864,481 |
| Insurance | $0 |
| All other expenses | $4,512,283 |
| Total functional expenses | $94,580,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | -$342,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,113,369 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,941,377 |
| Prepaid expenses and deferred charges | $440,426 |
| Net Land, buildings, and equipment | $270,262,814 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $48,733,821 |
| Intangible assets | $942,284 |
| Other assets | $0 |
| Total assets | $339,092,082 |
| Accounts payable and accrued expenses | $8,854,552 |
| 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 | $189,157,239 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,836,019 |
| Total liabilities | $224,847,810 |
| 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 | $179,345 |
| Retained earnings, endowment, accumulated income, or other funds | $114,064,927 |
| Total liabilities and net assets/fund balances | $339,092,082 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
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 |
Lee County Electric Cooperative Inc North Fort Myers, FL | $850,449,864 | $497,387,726 |
Withlacoochee River Electric Cooperative Inc Dade City, FL | $1,217,179,383 | $476,736,829 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sumter Electric Cooperative Inc Sumterville, FL | $962,585,573 | $440,111,118 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Clay Electric Cooperative Inc Keystone Heights, FL | $801,967,548 | $374,561,378 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |