Clay Electric Cooperative Inc
- Assets
- $20.9m
- Revenue
- $8.0m
- Investments
- $2.6m
- Employees
- 14
- Location
- Flora, IL
- Founding
- 08/1946
- Data as of
- 12/2021
- EIN
- 37-0219624
Organization Overview
Clay Electric Cooperative Inc is located in Flora, IL. The organization was established in 1946. 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, Clay Electric Cooperative Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clay 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, Clay Electric Cooperative Inc generated $8.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $6.9m 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
TO DISTRIBUTE ELECTRICITY TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luke Johnson CEO | 40 | $126,896 | |
Daniel Henderson Linemen | 42.05 | $106,338 | |
Damien Bowling Linemen | 42.49 | $103,956 | |
Bob Pierson President | OfficerTrustee | 3.65 | $0 |
Neil Gould Secretary | OfficerTrustee | 1.77 | $0 |
Bill Croy Vice President | OfficerTrustee | 1.31 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $345,130 |
| 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 | $345,130 |
| Total Program Service Revenue | $7,435,639 |
| Investment income | $14,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,377 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,990,658 |
| 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 | $283,462 |
| 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 | $289,986 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $779,039 |
| Insurance | $0 |
| All other expenses | $323,143 |
| Total functional expenses | $6,880,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,291 |
| Savings and temporary cash investments | $440,028 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,780,284 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $274,170 |
| Prepaid expenses and deferred charges | $635,342 |
| Net Land, buildings, and equipment | $14,827,975 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,637,292 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,856,382 |
| Accounts payable and accrued expenses | $698,006 |
| Grants payable | $0 |
| Deferred revenue | $349 |
| 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 | $7,263,349 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,925 |
| Total liabilities | $8,028,629 |
| 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 | $1,152,032 |
| Retained earnings, endowment, accumulated income, or other funds | $11,675,721 |
| Total liabilities and net assets/fund balances | $20,856,382 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Missouri Rural Electric Cooperative Palmyra, MO | $37,368,089 | $19,573,881 |
Jay County Rural Electric Membership Corporation Portland, IN | $32,510,611 | $21,221,936 |
Monroe County Electric Coop Inc Waterloo, IL | $48,641,421 | $17,977,778 |
Gascosage Electric Cooperative Dixon, MO | $57,774,455 | $19,748,899 |
Orange County Rural Electric Membership Corporation Orleans, IN | $101,879,716 | $17,771,155 |
North Central Missouri Electric Cooperative Inc Milan, MO | $39,341,969 | $18,294,115 |
Rathbun Regional Water Association Inc Centerville, IA | $143,535,509 | $19,524,917 |
Oconto Electric Cooperative Oconto Falls, WI | $45,027,823 | $17,184,584 |
Clinton County Electric Cooperative Inc Breese, IL | $36,047,909 | $16,814,895 |
T I P Rural Electric Cooperative Brooklyn, IA | $57,344,467 | $17,059,790 |
Nishnabotna Valley Rural Electric Cooperative Harlan, IA | $46,708,124 | $17,798,413 |
Central Wisconsin Electric Cooperative Rosholt, WI | $60,789,666 | $16,195,495 |