Cullman Electric Cooperative
- Assets
- $256.1m
- Revenue
- $129.7m
- Investments
- $0.0
- Employees
- 121
- Location
- Cullman, AL
- Founding
- 04/1941
- Data as of
- 06/2022
- EIN
- 63-0052772
Organization Overview
Cullman Electric Cooperative is located in Cullman, AL. The organization was established in 1941. 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, Cullman Electric Cooperative employed 121 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cullman 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 06/2022, Cullman Electric Cooperative generated $129.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $129.7m during the year ending 06/2022. While expenses have increased by 2.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CULLMAN ELECTRIC COOPERATIVE'S MISSION IS TO PROVIDE ELECTRIC SERVICE TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC SERVICE AND RELATED SERVICES TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Culpepper CEO | Officer | 45 | $268,305 |
Jerry Weathersby CFO | Officer | 45 | $194,303 |
Justin Lee Manager Of Engineering And Tech. | 50 | $151,454 | |
Daniel Stricklin Manager Of Information Services | 45 | $140,109 | |
Wade Yarbrough Manager Of Operations | 50 | $139,829 | |
Steve Link Lineman | 47 | $136,968 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Utility Lines Construction Services Inc Underground Utility Construction | 6/29/22 | $571,864 |
Davey Tree Expert Company Right Of Way Clearing | 6/29/22 | $1,223,894 |
Pittman's Tree & Landscaping Inc Right Of Way Clearing | 6/29/22 | $399,183 |
Corbitt Power & Light Llc Overhead Utility Construction | 6/29/22 | $653,693 |
Clyde Hooten & Sons Construction Inc Substation Site Preparation | 6/29/22 | $405,265 |
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 | $125,077,678 |
| Investment income | $374,387 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,459,480 |
| 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 | $129,698,192 |
| 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 | $5,324,323 |
| Compensation of current officers, directors, key employees. | $794,723 |
| 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 | $2,127,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,113,808 |
| Insurance | $0 |
| All other expenses | $7,142,265 |
| Total functional expenses | $129,698,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,003,471 |
| Savings and temporary cash investments | $11,315,317 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,473,100 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,984,755 |
| Inventories for sale or use | $5,944,969 |
| Prepaid expenses and deferred charges | $6,510,737 |
| Net Land, buildings, and equipment | $207,783,952 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $43,243 |
| Intangible assets | $253,348 |
| Other assets | $801,450 |
| Total assets | $256,114,342 |
| Accounts payable and accrued expenses | $28,481,890 |
| 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 | $98,526,884 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,106 |
| Total liabilities | $127,013,880 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $183,825 |
| Paid-in or capital surplus, or land, building, or equipment fund | $200,000 |
| Retained earnings, endowment, accumulated income, or other funds | $128,716,637 |
| Total liabilities and net assets/fund balances | $256,114,342 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cullman Electric Cooperative has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $25,000 |
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 |