Claiborne Electric Cooperative Inc
- Assets
- $135.2m
- Revenue
- $66.5m
- Investments
- $1.2m
- Employees
- 81
- Location
- Homer, LA
- Founding
- 02/1943
- Data as of
- 12/2023
- EIN
- 72-0154371
Organization Overview
Claiborne Electric Cooperative Inc is located in Homer, LA. The organization was established in 1943. 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 12/2023, Claiborne Electric Cooperative Inc employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Claiborne 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 12/2023, Claiborne Electric Cooperative Inc generated $66.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $69.7m during the year ending 12/2023. While expenses have increased by 3.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE WHOLESALE PURCHASE, DISTRIBUTION, AND RETAIL SALE OF ELECTRICITY TO APPROXIMATELY 18,553 RURAL MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICAL POWER TO APPROXIMATELY 18,553 RURAL MEMBERS.
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 |
|---|---|---|---|
Mark Brown Gm & CEO | Officer | 65 | $249,113 |
Kathy Tanner CFO | Officer | 50 | $170,462 |
Rocky Lachney Area Serviceman | 50 | $174,704 | |
Caleb Temple Foreman | 50 | $167,608 | |
Adam Flenniken Area Serviceman | 50 | $156,277 | |
Daniel Kimbell Op & Maint Manager | 50 | $152,153 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Echo Power Llc Electric Contractor | 12/30/23 | $3,460,992 |
Right Away Maintenance Co Llc Tree-trim Contractor | 12/30/23 | $1,874,722 |
Osmose Utilities Services Inc Pole Inspection | 12/30/23 | $341,889 |
Nisc Software Support & Soluti | 12/30/23 | $370,087 |
Temptest Energy Llc Electric Contractor | 12/30/23 | $450,789 |
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 | $64,473,504 |
| Investment income | $1,563,867 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $291,290 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,495,647 |
| 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. | $654,731 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $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 | $3,738,693 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,303,395 |
| Insurance | $0 |
| All other expenses | $1,696,648 |
| Total functional expenses | $69,745,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $555,022 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,206,550 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,142,798 |
| Prepaid expenses and deferred charges | $309,583 |
| Net Land, buildings, and equipment | $109,172,818 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,215,479 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,598,769 |
| Total assets | $135,201,019 |
| Accounts payable and accrued expenses | $7,904,292 |
| 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 | $99,290,601 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,394,887 |
| Total liabilities | $113,589,780 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $21,611,239 |
| Total liabilities and net assets/fund balances | $135,201,019 |