Scott County Telephone Cooperative Inc
- Assets
- $34.1m
- Revenue
- $9.2m
- Investments
- $3.3m
- Employees
- 62
- Location
- Gate City, VA
- Founding
- 09/1957
- Data as of
- 12/2019
- EIN
- 54-0557573
Organization Overview
Scott County Telephone Cooperative Inc is located in Gate City, VA. The organization was established in 1957. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2018, Scott County Telephone Cooperative Inc employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scott County Telephone 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 12/2019, Scott County Telephone Cooperative Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $9.2m during the year ending 12/2019. While expenses have increased by 4.3% 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TELECOMMUNICATION SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCOTT COUNTY TELEPHONE COOPERATIVE'S SERVICE AREA INCLUDED APPROXIMATELY 545 SQUARE MILES IN SCOTT COUNTY, 110 SQUARE MILES IN RUSSELL COUNTY AND 15 SQUARE MILES IN WISE AND DICKENSON COUNTY. THE COOPERATIVE PROVIDED TO ITS MEMBERS, TELECOMMUNICATIONS SERVICES, THAT INCLUDED DIAL TONE, IP DIAL-TONE, VIDEO AND BROADBAND SERVICES ALONG WITH LONG-DISTANCE SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William J Franklin Chief Executive Officer | Officer | 40 | $142,673 |
Daniel E Odom Chief Financial Officer | Officer | 40 | $109,868 |
Brad Bowen Director | Trustee | 0.5 | $27,165 |
William Johnson Treasurer | Trustee | 0.5 | $24,927 |
Billy Maness Director | Trustee | 0.5 | $16,915 |
John Kilgore President | Trustee | 0.5 | $14,457 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ervin Cable Construction Installation Of Fiber Plant | 12/30/18 | $689,427 |
William Metts Engineering Engineering | 12/30/18 | $406,530 |
Chr Solutions Billing Services | 12/30/18 | $356,654 |
American Electric Power Make Ready Fiber Install | 12/30/18 | $373,682 |
Jackson Thornton & Co Pc Accounting & Consulting | 12/30/18 | $126,130 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $434,652 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,248 |
| Net Gain/Loss on Asset Sales | $24,255 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,179,083 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,153,167 |
| Compensation of current officers, directors, key employees. | $503,119 |
| 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 | $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 | $214,201 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,624,764 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,179,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,910,178 |
| Savings and temporary cash investments | $587,913 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $365,591 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $562,181 |
| Prepaid expenses and deferred charges | $1,924,955 |
| Investments—publicly traded securities | $472,206 |
| Investments—other securities | $3,337,590 |
| Investments—program-related | $381,025 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,053,199 |
| Accounts payable and accrued expenses | $8,217,068 |
| 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 | $7,410,143 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,271,031 |
| Total liabilities | $18,898,242 |
| 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 | $102,396 |
| Total liabilities and net assets/fund balances | $15,154,957 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Highland Telephone Cooperative Inc Sunbright, TN | $81,089,190 | $24,131,946 |
Scott County Telephone Cooperative Inc Gate City, VA | $34,053,199 | $9,179,083 |
Spruce Knob Seneca Rocks Telephone Inc Riverton, WV | $9,084,789 | $3,420,037 |
The Wireless Foundation Washington, DC | $35,119,176 | $2,185,328 |
Virginia Cable Telecommunications Inc Richmond, VA | $1,169,561 | $1,283,706 |
United States Telecommunications Training Institute Washington, DC | $582,730 | $994,659 |
Shentel Foundation Edinburg, VA | $2,593,435 | $155,125 |
United States Telecom Foundation Washington, DC | $6,113 | $0 |