Carroll Electric Cooperative Corporation
- Assets
- $756.6m
- Revenue
- $239.2m
- Investments
- $0.0
- Employees
- 335
- Location
- Berryville, AR
- Founding
- 05/1939
- Data as of
- 12/2021
- EIN
- 71-0027635
Organization Overview
Carroll Electric Cooperative Corporation is located in Berryville, AR. The organization was established in 1939. 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, Carroll Electric Cooperative Corporation employed 335 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carroll Electric Cooperative Corporation 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, Carroll Electric Cooperative Corporation generated $239.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $239.2m during the year ending 12/2021. While expenses have increased by 5.0% 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 SERVE OUR MEMBERS WITH SAFE, RELIABLE, AND AFFORADABLE ELECTRICITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALES OF ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 110,262 ACTIVE SERVICES AT YEAR END.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Boaz President/ceo | Officer | 54 | $573,524 |
James Sanders VP Executive Services | 45 | $439,088 | |
Kean Steely VP Engineering & Operations | 45 | $289,269 | |
Michael Dodge VP Bentonville District | 45 | $259,832 | |
Chad Allen VP Financial Services | Officer | 45 | $226,642 |
Cory Smith VP Corporate Relations | 45 | $214,489 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capital Electric Line Builders Inc Line Construction | 12/30/21 | $5,487,651 |
Arkansas Electric Cooperativeinc Line Construction, Row Clearing, & Train | 12/30/21 | $3,544,456 |
Barrows Excavation Inc Construction Services | 12/30/21 | $5,535,227 |
Black & Mcdonald Engineering | 12/30/21 | $2,488,016 |
Bbc Electrical Services Inc Line Construction | 12/30/21 | $2,192,659 |
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 | $236,739,088 |
| Investment income | $674,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $23,334 |
| Net Gain/Loss on Asset Sales | $650,584 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,256 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $239,227,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,410 |
| Grants and other assistance to domestic individuals. | $12,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,442,703 |
| Compensation of current officers, directors, key employees. | $1,837,057 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,019,024 |
| Pension plan accruals and contributions | $3,943,016 |
| Other employee benefits | $3,399,958 |
| Payroll taxes | $1,197,583 |
| 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 | $11,786,983 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,433,364 |
| Insurance | $0 |
| All other expenses | $263,970 |
| Total functional expenses | $239,227,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,234,007 |
| Savings and temporary cash investments | $3,292,979 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,014,877 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,055,398 |
| Prepaid expenses and deferred charges | $1,293,114 |
| Net Land, buildings, and equipment | $619,496,579 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $65,263,944 |
| Intangible assets | $0 |
| Other assets | $35,920,163 |
| Total assets | $756,571,061 |
| Accounts payable and accrued expenses | $14,954,150 |
| 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 | $447,274,743 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,023,142 |
| Total liabilities | $490,252,035 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,172,560 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $264,146,466 |
| Total liabilities and net assets/fund balances | $756,571,061 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
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 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
Cumberland Electric Membership Corp Clarksville, TN | $559,882,187 | $327,722,843 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Volunteer Energy Cooperative Decatur, TN | $369,462,846 | $270,037,507 |