Powell Valley Electric Cooperative
- Assets
- $99.8m
- Revenue
- $61.1m
- Investments
- $0.0
- Employees
- 67
- Location
- New Tazewell, TN
- Founding
- 07/1940
- Data as of
- 06/2021
- EIN
- 54-0345615
Organization Overview
Powell Valley Electric Cooperative is located in New Tazewell, TN. The organization was established in 1940. 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 06/2021, Powell Valley Electric Cooperative employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Powell Valley 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 06/2021, Powell Valley Electric Cooperative generated $61.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $56.8m during the year ending 06/2021. 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
DISTRIBUTION OF TVA-GENERATED POWER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC COOPERATIVE IN CONJUNCTION WITH RUS PROGRAMS, DISTRIBUTION OF TVA GENERATED POWER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randell W Meyers CEO | Officer | 40 | $557,946 |
Bobby Johnson First Class | 55 | $151,473 | |
Ronnie Williams Supervisor | 40 | $142,829 | |
Charles Goodin Asst General | 40 | $138,377 | |
Richard Mallicoat Lead Lineman | $127,673 | ||
Michael Coppock Engineer | $125,145 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dkr Communications Construction | 6/29/21 | $1,731,992 |
Journeyman Electric Construction | 6/29/21 | $2,534,668 |
Us Applicators Clearing | 6/29/21 | $374,846 |
Treeline Helicopters Inc Clearing | 6/29/21 | $254,584 |
Lee County Tree Service 431869 Clearing | 6/29/21 | $249,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,254,100 |
| 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 | $1,254,100 |
| Total Program Service Revenue | $58,935,206 |
| Investment income | $950,876 |
| 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 | $61,140,182 |
| 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. | $86,805 |
| Compensation of current officers, directors, key employees. | $86,805 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,325,119 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,371 |
| Payroll taxes | $0 |
| Fees for services: Management | $136,305 |
| Fees for services: Legal | $46,541 |
| Fees for services: Accounting | $24,900 |
| 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 | $1,100 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,324 |
| Interest | $381,697 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,336,167 |
| Insurance | $178,273 |
| All other expenses | $277,942 |
| Total functional expenses | $56,788,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,900 |
| Savings and temporary cash investments | $14,951,328 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,410,457 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,084,654 |
| Inventories for sale or use | $4,452,188 |
| Prepaid expenses and deferred charges | $272,995 |
| Net Land, buildings, and equipment | $64,011,067 |
| Investments—publicly traded securities | $601,634 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$31,279 |
| Total assets | $99,755,944 |
| Accounts payable and accrued expenses | $11,603,997 |
| 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 | $4,188,208 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,398,764 |
| Total liabilities | $19,190,969 |
| 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 | $125,320 |
| Retained earnings, endowment, accumulated income, or other funds | $80,439,655 |
| Total liabilities and net assets/fund balances | $99,755,944 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
4-County Electric Power Association Columbus, MS | $315,642,901 | $133,649,967 |
Satilla Rural Electric Membership Corp Alma, GA | $268,716,625 | $122,190,964 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Diverse Power Incorporated Lagrange, GA | $239,882,222 | $117,829,336 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Northcentral Electric Cooperative Olive Branch, MS | $185,941,805 | $125,968,963 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Tombigbee Electric Power Assn Tupelo, MS | $221,161,642 | $118,553,499 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Blue Ridge Mountain Electric Membership Corp 101-10 Irc Young Harris, GA | $245,553,260 | $112,097,199 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |