Marshall-Dekalb Electric Cooperative
- Assets
- $102.5m
- Revenue
- $19.4m
- Investments
- $27.7k
- Employees
- 55
- Location
- Boaz, AL
- Founding
- 00/0000
- Data as of
- 06/2024
- EIN
- 63-0132555
Organization Overview
Marshall-Dekalb Electric Cooperative is located in Boaz, AL. The organization was established in 0000. 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, Marshall-Dekalb Electric Cooperative employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshall-Dekalb 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 06/2024, Marshall-Dekalb Electric Cooperative generated $19.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $16.6m during the year ending 06/2024. While expenses have increased by 4.6% 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
SALE OF ELECTRIC POWER
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY PURCHASED FROM TVA 20,700 CUSTOMERS SERVED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bobby Weathers Sec/treas | OfficerTrustee | 5 | $14,325 |
Briggs Patterson Trustee | Trustee | 5 | $14,712 |
Jerry Scott Trustee | Trustee | 5 | $13,282 |
Brien Phillips President | OfficerTrustee | 5 | $4,600 |
Terry Edmondson Vice President | OfficerTrustee | 5 | $15,211 |
Steve Henley Trustee | Trustee | 5 | $14,072 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Exeleron Software Llc Software | 6/29/24 | $392,639 |
Corbitt Power And Light Llc Installation And Servicing Of Utility Li | 6/29/24 | $1,977,398 |
Landers' Land Improvement Llc Landscaping | 6/29/24 | $266,955 |
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 | $838,241 |
| Investment income | $265,313 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,091,595 |
| 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 | $17,244,132 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,439,281 |
| 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. | $353,313 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,731,040 |
| Other employee benefits | $66,686 |
| Payroll taxes | $281,089 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,150 |
| 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 | $129,332 |
| Office expenses | $123,820 |
| 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 | $605,412 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,892,187 |
| Insurance | $0 |
| All other expenses | $1,546,657 |
| Total functional expenses | $16,631,544 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,810,328 |
| Savings and temporary cash investments | $1,170,541 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,383,302 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,223,905 |
| Prepaid expenses and deferred charges | $186,279 |
| Net Land, buildings, and equipment | $92,205,162 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $27,655 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $493,515 |
| Total assets | $102,500,687 |
| Accounts payable and accrued expenses | $17,898,348 |
| 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 | $14,196,378 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $313,827 |
| Total liabilities | $32,408,553 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $150,242 |
| Paid-in or capital surplus, or land, building, or equipment fund | $91,598 |
| Retained earnings, endowment, accumulated income, or other funds | $69,850,294 |
| Total liabilities and net assets/fund balances | $102,500,687 |