Electric Cooperative Foundation Inc
- Assets
- $375.2k
- Revenue
- $191.5k
- Investments
- $322.5k
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 01/2000
- Data as of
- 12/2022
- EIN
- 63-1190086
Organization Overview
Electric Cooperative Foundation Inc is located in Montgomery, AL. The organization was established in 2000. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Electric Cooperative Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Electric Cooperative Foundation Inc generated $191.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $173.7k during the year ending 12/2022. While expenses have increased by 8.2% 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.
Since 2015, Electric Cooperative Foundation Inc has awarded 1,114 individual grants totaling $1,386,950. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ELECTRIC COOPERATIVE FOUNDATION AWARDED EDUCATIONAL SCHOLARSHIPS TO DEPENDENTS OF ELECTRIC COOPERATIVE MEMBERS ACROSS THE STATE OF ALABAMA.
THE ELECTRIC COOPERATIVE FOUNDATION PROVIDED DISASTER RELIEF CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bobby Ballard Director | 1 | $0 | |
George Kitchens Director | 1 | $0 | |
Steve Sheffield Director | 1 | $0 | |
Parks Tubbs Director | 1 | $0 | |
Vince Johnson Chairman | 1 | $0 | |
Brian Matney Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $151,760 |
| Interest on Savings | $5 |
| Dividends & Interest | $32,364 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,321 |
| Capital Gain Net Income | $7,321 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $191,450 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $924 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,265 |
| Total operating and administrative expenses | $23,189 |
| Contributions, gifts, grants paid | $150,500 |
| Total expenses and disbursements | $173,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $52,692 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $322,527 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $375,219 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $55,369 |
| Total liabilities | $55,369 |
Grants Awarded
Over the last fiscal year, Electric Cooperative Foundation Inc has awarded $150,500 in support to 124 organizations.
| Grant Recipient | Amount |
|---|---|
ABBY PORTER PURPOSE: EDUCATIONAL SCHOLARSHIP | $1,000 |
ABBY TAYLOR PURPOSE: EDUCATIONAL SCHOLARSHIP | $1,000 |
ALANA KILLOUGH PURPOSE: EDUCATIONAL SCHOLARSHIP | $1,000 |
ALEEA GASTON PURPOSE: DISASTER ASSISTANCE | $1,000 |
ALEJANDRO ELIZANDO PURPOSE: EDUCATIONAL SCHOLARSHIP | $1,000 |
ALEXIS BROWN PURPOSE: EDUCATIONAL SCHOLARSHIP | $500 |