Ashley-Chicot Electric Cooperative Inc
- Assets
- $39.5m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 20
- Location
- Hamburg, AR
- Founding
- 09/1954
- Data as of
- 12/2021
- EIN
- 71-0205220
Organization Overview
Ashley-Chicot Electric Cooperative Inc is located in Hamburg, AR. The organization was established in 1954. 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, Ashley-Chicot Electric Cooperative Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ashley-Chicot Electric Cooperative Inc 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, Ashley-Chicot Electric Cooperative Inc generated $11.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $11.9m during the year ending 12/2021. While expenses have increased by 2.2% 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
SALE OF ELECTRICITY TO RURAL MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 5,091 RURAL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rodney Chapman General Manager | Officer | 40 | $114,754 |
Mark Pieroni Director | Trustee | 2 | $10,016 |
Dennis Holland Secretary-Treasurer | OfficerTrustee | 8 | $7,836 |
Martha Pennington Vice President | OfficerTrustee | 5 | $6,581 |
David Lynn Director | Trustee | 2 | $6,215 |
Jerry Pahal Director | Trustee | 3 | $5,617 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ark Electric Coop Inc Line Materials | 12/30/21 | $461,136 |
D-h Electrical Contractors Line Construction | 12/30/21 | $680,115 |
Trc Mapping And Pole Inspection | 12/30/21 | $273,841 |
Barnett Right Of Way Service Inc Right Of Way Clearing | 12/30/21 | $278,597 |
Techline Ltd Line Materials | 12/30/21 | $214,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $353,709 |
| 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 | $353,709 |
| Total Program Service Revenue | $11,234,010 |
| Investment income | $99,152 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,933,884 |
| 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 | $493,269 |
| Compensation of current officers, directors, key employees. | $156,269 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,997 |
| 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 | $30,010 |
| 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 | $4,058 |
| Interest | $862,070 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,447,601 |
| Insurance | $0 |
| All other expenses | $494,862 |
| Total functional expenses | $11,933,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,664 |
| Savings and temporary cash investments | $2,447,538 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $728,148 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $265,667 |
| Prepaid expenses and deferred charges | $33,638 |
| Net Land, buildings, and equipment | $31,043,819 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,396,618 |
| Intangible assets | $0 |
| Other assets | $310,410 |
| Total assets | $39,523,502 |
| Accounts payable and accrued expenses | $940,286 |
| Grants payable | $0 |
| Deferred revenue | $392,217 |
| 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 | $19,045,862 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,678 |
| Total liabilities | $20,424,043 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $40,810 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $19,058,649 |
| Total liabilities and net assets/fund balances | $39,523,502 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Navarro County Electric Cooperative Inc Corsicana, TX | $102,970,554 | $49,278,830 |
Rural Electric Co Op Inc Lindsay, OK | $94,050,768 | $47,989,459 |
Kiamichi Electric Cooperative Inc Wilburton, OK | $118,158,279 | $46,432,215 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
C & L Electric Cooperative Corporation Star City, AR | $139,600,891 | $49,154,793 |
Houston County Electric Cooperative Inc Crockett, TX | $158,669,671 | $45,143,222 |
North Plains Electric Cooperative Incorporated Perryton, TX | $109,565,276 | $41,899,328 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Concho Valley Electric Cooperative Inc San Angelo, TX | $125,005,347 | $44,400,615 |
Navasota Valley Electric Cooperative Inc Franklin, TX | $102,144,082 | $44,111,524 |