Clay Electric Cooperative Inc
- Assets
- $23.8m
- Revenue
- $8.1m
- Investments
- $3.0m
- Employees
- 15
- Location
- Flora, IL
- Founding
- 08/1946
- Data as of
- 12/2023
- 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 12/2023, Clay Electric Cooperative Inc employed 15 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 12/2023, Clay Electric Cooperative Inc generated $8.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $7.5m during the year ending 12/2023. While expenses have increased by 1.4% per year over the past 5 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
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Czyzewski Board Director | Trustee | 3.15 | $7,350 |
Frank Herman Board Director | Trustee | 3.21 | $7,140 |
Evan Smith Board Director | Trustee | 1.13 | $4,200 |
Kevin Logan Board Director | Trustee | 4.54 | $9,420 |
Neil Gould Secretary | OfficerTrustee | 2.15 | $5,040 |
Bob Pierson President | OfficerTrustee | 6.22 | $9,030 |
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 | $7,902,699 |
| Investment income | $33,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,901 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,143,558 |
| 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 | $332,019 |
| 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 | $379,313 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $710,650 |
| Insurance | $0 |
| All other expenses | $416,681 |
| Total functional expenses | $7,518,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,735 |
| Savings and temporary cash investments | $61,786 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,183,712 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $225,015 |
| Prepaid expenses and deferred charges | $443,821 |
| Net Land, buildings, and equipment | $17,598,730 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,016,779 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,789,578 |
| Accounts payable and accrued expenses | $690,298 |
| 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 | $9,309,066 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $75,240 |
| Total liabilities | $10,074,953 |
| 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 | $1,487,854 |
| Retained earnings, endowment, accumulated income, or other funds | $12,226,771 |
| Total liabilities and net assets/fund balances | $23,789,578 |