Carroll Electric Cooperative Corporation
- Assets
- $831.1m
- Revenue
- $275.2m
- Investments
- $0.0
- Employees
- 341
- Location
- Berryville, AR
- Founding
- 05/1939
- Data as of
- 12/2022
- 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 12/2022, Carroll Electric Cooperative Corporation employed 341 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 12/2022, Carroll Electric Cooperative Corporation generated $275.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $275.2m during the year ending 12/2022. While expenses have increased by 6.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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 113,815 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Hunnicutt Chairman | OfficerTrustee | 9.6 | $31,966 |
Carla Hathorn Vice Chairman | OfficerTrustee | 8.1 | $36,313 |
Winfred Prier Secretary/treasurer | OfficerTrustee | 2.1 | $31,092 |
J Neff Basore Director | Trustee | 6.5 | $31,966 |
David Glass Director | Trustee | 9.5 | $42,966 |
Kristy Noble-Tesch Director | Trustee | 5.9 | $41,866 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barrows Excavation Inc Construction Services | 12/30/22 | $7,000,256 |
Arkansas Electric Cooperativeinc Line Construction, Row Clearing, & Train | 12/30/22 | $4,558,957 |
Capital Electric Line Construction | 12/30/22 | $3,539,549 |
Hutton Contracting Co Line Construction | 12/30/22 | $3,232,486 |
Black & Mcdonald Engineering | 12/30/22 | $2,651,801 |
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 | $269,502,877 |
| Investment income | $3,265,411 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$2,442 |
| Net Gain/Loss on Asset Sales | $730,638 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$22,167 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,207,800 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,592 |
| Grants and other assistance to domestic individuals. | $10,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,566,255 |
| Compensation of current officers, directors, key employees. | $1,965,120 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,394,724 |
| Pension plan accruals and contributions | $4,341,659 |
| Other employee benefits | $3,771,818 |
| Payroll taxes | $1,287,419 |
| 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 | $12,764,071 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,556,342 |
| Insurance | $0 |
| All other expenses | $468,053 |
| Total functional expenses | $275,207,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,535,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,165,729 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $28,294,426 |
| Prepaid expenses and deferred charges | $213,687 |
| Net Land, buildings, and equipment | $667,940,354 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $66,103,594 |
| Intangible assets | $0 |
| Other assets | $46,810,270 |
| Total assets | $831,063,495 |
| Accounts payable and accrued expenses | $34,293,946 |
| 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 | $491,141,273 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,745,297 |
| Total liabilities | $560,180,516 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,220,731 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $268,662,248 |
| Total liabilities and net assets/fund balances | $831,063,495 |