Touchstone Energy Cooperative Inc
- Assets
- $13.5m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 11/2001
- Data as of
- 12/2022
- EIN
- 54-1978503
Organization Overview
Touchstone Energy Cooperative Inc is located in Arlington, VA. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Touchstone Energy Cooperative Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Touchstone Energy Cooperative Inc generated $10.1m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $10.2m during the year ending 12/2022. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED RESEARCH AND DELIVERED EDUCATION PROGRAMS FOR MEMBERSHIP - IN 2022 TSEC PROVIDED THE MEMBERSHIP WITH THE BEST PRACTICE RESEARCH DOCUMENTS, PROGRAMS TO ASSESS MEMBER SATISFACTION, AND EDUCATIONAL EVENTS TO HELP IMPROVE MEMBER SATISFACTION AND ENGAGEMENT.
PROVIDED VALUABLE MEMBERS BENEFITS - IN 2022, THE TSEC CO-OP WEB BUILDER PROGRAM FOCUSED ON IMPROVING THE QUALITY AND SECURITY OF THE CONTENT MANAGEMENT SYSTEM. MEMBER WEBSITES WERE CONVERTED TO AN UPDATED CMS VERSION AND ADDITIONAL SECURITY MEASURES WERE PUT IN PLACE.
STRENGTHENED BRAND AWARENESS AMONG CONSUMERS - IN 2022, TSEC PROMOTED ELECTRIC COOPERATIVE MEMBERS AS THE TRUSTED AND CONSISTENT SOURCE FOR ENERGY AND INFORMATION THROUGH NATIONAL, REGIONAL AND LOCAL COMMUNICATION AND EDUCATION CAMPAIGNS. VIDEO, RADIO, PRINT, DIGITAL AND OTHER METHODS WERE USED TO IMPROVE THE VISIBILITY AND AWARENESS OF THE COOPERATIVE DIFFERENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Mirasola Board President | OfficerTrustee | 2 | $0 |
Tim Mccarthy Board Vice President | OfficerTrustee | 1 | $0 |
Kevin Bernson Board Secretary/treasurer | OfficerTrustee | 1 | $0 |
Jack Bragg Director | Trustee | 1 | $0 |
Bill Conley Director | Trustee | 1 | $0 |
Jim Gossett Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nreca Management Svcs | 12/30/22 | $4,259,629 |
Assembly Advertising Agency | 12/30/22 | $818,145 |
Harvest Creative Services Advertisement Prod. | 12/30/22 | $439,679 |
Targetcast Llc Advertising Agency | 12/30/22 | $728,190 |
Linkedin Corporation Prof. Development | 12/30/22 | $374,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,467,737 |
| 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 | $9,467,737 |
| Total Program Service Revenue | $616,895 |
| Investment income | $98,807 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $50,114 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$145,033 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,088,520 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,259,629 |
| Fees for services: Legal | $13,947 |
| Fees for services: Accounting | $6,031 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $318,641 |
| Advertising and promotion | $2,648,224 |
| Office expenses | $948,396 |
| Information technology | $545,918 |
| Royalties | $0 |
| Occupancy | $205,615 |
| Travel | $194,709 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $428,323 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,664 |
| Insurance | $32,774 |
| All other expenses | $0 |
| Total functional expenses | $10,176,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,668,066 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $497,226 |
| Net Land, buildings, and equipment | $343,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,508,349 |
| Accounts payable and accrued expenses | $606,118 |
| Grants payable | $0 |
| Deferred revenue | $4,837,953 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,444,071 |
| 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 | $8,064,278 |
| Total liabilities and net assets/fund balances | $13,508,349 |