1803 Electric Cooperative Inc
- Assets
- $7.9m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Baton Rouge, LA
- Founding
- 11/2019
- Data as of
- 12/2023
- EIN
- 83-4216089
Organization Overview
1803 Electric Cooperative Inc is located in Baton Rouge, LA. The organization was established in 2019. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, 1803 Electric Cooperative Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1803 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, 1803 Electric Cooperative Inc generated $6.1m in total revenue. All expenses for the organization totaled $2.1m during the year ending 12/2023. While expenses have increased by 59.6% per year over the past 4 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
PROVIDE SAFE RELIABLE AND COST EFFECTIVE ELECTRIC POWER GENERATION AND TRANSMISSION TO MEMBER ELECTRICAL POWER COOPERATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SAFE RELIABLE AND COST-EFFECTIVE ELECTRIC POWER GENERATION AND TRANSMISSION TO MEMBER ELECTRICAL POWER COOPERATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Churchwell Director President CEO | OfficerTrustee | 10 | $0 |
Phillip Fincher Director Vice-President | OfficerTrustee | 8 | $0 |
Dane Hocott Director Secretary Treasurer | OfficerTrustee | 5 | $0 |
Francis Cefalu Director | Trustee | 3 | $0 |
Mark Brown Director | Trustee | 2 | $0 |
Weldon Fitch Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aces Legal / Regulation | 12/30/23 | $473,225 |
Marionneaux Kantrow Llc Legal | 12/30/23 | $222,891 |
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 | $5,898,974 |
| Investment income | $236,992 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $6,135,966 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $595,904 |
| Pension plan accruals and contributions | $68,540 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $251,089 |
| Fees for services: Accounting | $4,775 |
| 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 | $101,420 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,200 |
| Travel | $32,624 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $302,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,570 |
| All other expenses | $878 |
| Total functional expenses | $2,062,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,966,529 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $494,069 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $74,676 |
| Net Land, buildings, and equipment | $31,795 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,000 |
| Intangible assets | $0 |
| Other assets | $376,037 |
| Total assets | $7,944,106 |
| Accounts payable and accrued expenses | $278,778 |
| 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 | $305,120 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,026,070 |
| Total liabilities | $1,609,968 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $50,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $6,284,138 |
| Total liabilities and net assets/fund balances | $7,944,106 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1803 Electric Cooperative Inc Baton Rouge, LA | $7,944,106 | $6,135,966 |
Farmers Mutual Insurance Association Of Erath County Texas Morgan Mill, TX | $1,113,713 | $535,565 |
Mrt Welfare Benefit Trust Houston, TX | $7,092,581 | $254,972 |
Mesjja Reinsurance Co Ltd Irving, TX | $883,967 | $256,982 |
Texas Association Of Mutual Insurance Companies Yoakum, TX | $168,369 | $0 |
Lawyers Premium Ins Tr Houston, TX | $371,850 | $0 |
Third Coast Reinsurance Llc Covington, LA | $0 | $136,535 |
Pitcairn Water Supply Inc Tomball, TX | $182,884 | $0 |
Bgd Product Co Ltd Irving, TX | $413,745 | $56,588 |
New Deal Reinsurance Company Ltd El Paso, TX | $2,158,071 | $0 |
Homesecure Warrenty Plan Llc Richmond, TX | $0 | $0 |