1803 Electric Cooperative Inc
- Assets
- $104.2k
- Revenue
- $750.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Baton Rouge, LA
- Founding
- 11/2019
- Data as of
- 12/2021
- 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. 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 12/2021, 1803 Electric Cooperative Inc generated $750.0k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. 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
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
PURCHASE WHOLESALE GENERATION AND OR TRANSMISSION ELECTRIC SERVICE FOR MEMBER ELECTRIC DISTRIBUTION COOPERATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Hill Director President Gm | OfficerTrustee | 12 | $0 |
Phillip Fincher Director Vice President | Trustee | 9 | $0 |
Weldon Fitch Director | Trustee | 10 | $0 |
Jeff Churchwell Director Secretary Treasurer | Trustee | 15 | $0 |
Mark Brown Director | Trustee | 2 | $0 |
Francis Cefalu Director | Trustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pain Garland And Hobbs Llp Legal | 12/30/21 | $221,053 |
Marionneaux Kantrow Llc Legal | 12/30/21 | $389,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $750,000 |
| 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 | $750,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $750,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $643,679 |
| 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 | $441,720 |
| Advertising and promotion | $0 |
| Office expenses | $202 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,561 |
| All other expenses | $80 |
| Total functional expenses | $1,098,242 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,045 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,000 |
| Intangible assets | $0 |
| Other assets | $4,188 |
| Total assets | $104,233 |
| Accounts payable and accrued expenses | $215,677 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $215,677 |
| 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 | -$161,444 |
| Total liabilities and net assets/fund balances | $104,233 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1803 Electric Cooperative Inc Baton Rouge, LA | $104,233 | $750,000 |
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