A & N Electric Cooperative
- Assets
- $215.1m
- Revenue
- $86.3m
- Investments
- $0.0
- Employees
- 87
- Location
- Tasley, VA
- Founding
- 04/1956
- Data as of
- 12/2022
- EIN
- 54-0116855
Organization Overview
A & N Electric Cooperative is located in Tasley, VA. The organization was established in 1956. 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 12/2022, A & N Electric Cooperative employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. A & N Electric Cooperative 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 12/2022, A & N Electric Cooperative generated $86.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $85.7m during the year ending 12/2022. While expenses have increased by 0.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF A & N ELECTRIC COOPERATIVE. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES ARE AS FOLLOWS: COST OF POWER 58,749,092 DEPRECIATION 6,795,567 SALARIES AND WAGES 6,605,142
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Belvin Williamson Jr President & | Officer | 50 | $337,090 |
Shawn Hildebrand VP - Corp Sv | Officer | 50 | $205,981 |
Todd Bireley VP Eng & Tec | Officer | 50 | $177,769 |
Roger Blizzard VP Hr & Empl | 40 | $179,848 | |
Dana Penney Director, Ac | 40 | $152,880 | |
Kenneth E Thornton Serviceman | 40 | $159,605 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cooperative Building Solutions Construction | 12/30/22 | $11,850,118 |
Rock Creek Line Const | 12/30/22 | $883,279 |
Lucas Utilities Underground | 12/30/22 | $708,118 |
Asplundh Row Clearing | 12/30/22 | $1,133,287 |
Colona's Auto Repairs | 12/30/22 | $341,146 |
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 | $85,439,423 |
| Investment income | $277,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $587,475 |
| 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 | $86,304,717 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,391 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,647,724 |
| Compensation of current officers, directors, key employees. | $1,446,968 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,605,142 |
| Pension plan accruals and contributions | $787,866 |
| Other employee benefits | $150,965 |
| Payroll taxes | $599,840 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,274 |
| 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 | $1,396,602 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,044 |
| Interest | $3,129,262 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,795,567 |
| Insurance | $0 |
| All other expenses | -$3,627,783 |
| Total functional expenses | $85,672,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,804 |
| Savings and temporary cash investments | $7,884,784 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,694,906 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,297,338 |
| Prepaid expenses and deferred charges | $439,986 |
| Net Land, buildings, and equipment | $161,723,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $24,198,361 |
| Intangible assets | $0 |
| Other assets | $3,750,229 |
| Total assets | $215,060,644 |
| Accounts payable and accrued expenses | $9,434,805 |
| 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 | $116,668,172 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,725,042 |
| Total liabilities | $133,828,019 |
| 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 | $81,232,625 |
| Total liabilities and net assets/fund balances | $215,060,644 |
Grants Awarded
Over the last fiscal year, A & N Electric Cooperative has awarded $40,391 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MEMBERS HELPING MEMBERS INC PURPOSE: MEET MISSION STMT | $34,391 |
FOODBANK OF THE EASTERN SHORE PURPOSE: COMMUNITY SUPPORT | $6,000 |