Highland Telephone Cooperative
- Assets
- $8.6m
- Revenue
- $3.0m
- Investments
- $9.1k
- Employees
- 9
- Location
- Monterey, VA
- Founding
- 07/1980
- Data as of
- 12/2021
- EIN
- 54-6007441
Organization Overview
Highland Telephone Cooperative is located in Monterey, VA. The organization was established in 1980. 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 12/2021, Highland Telephone Cooperative employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Highland Telephone 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 12/2021, Highland Telephone Cooperative generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 6.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TELECOMMUNICATION SERVICES TO ITS MEMBERS LOCATED IN THE COOPERATIVE'S SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHLAND TELEPHONE COOPERATIVE PROVIDED A VARIETY OF TELECOMMUNICATION SERVICES TO APPROXIMATELY 1,110 MEMBERS LOCATED IN HIGHLAND COUNTY, VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Kimble G.m. | Officer | 40 | $93,814 |
Denise Waybright Secretary/treasurer | Officer | 40 | $42,992 |
Richard Simmons Director/president | Trustee | 2 | $1,750 |
Sarah Shifflett Director | Trustee | 2 | $1,100 |
Debbi Stephenson Director | Trustee | 2 | $1,050 |
Garland Dever Director/vice President | Trustee | 2 | $950 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Er Excavating & Utilities Llc Installer Of Fiber Optic Network | 12/30/20 | $711,514 |
Vantage Point Fiber Optic Plant Engineering | 12/30/20 | $162,084 |
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 | $2,988,972 |
| Investment income | $2,224 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $248 |
| 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 | $3,001,352 |
| 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 | $965,602 |
| Compensation of current officers, directors, key employees. | $186,500 |
| 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 | $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 | $67 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $461,224 |
| Insurance | $0 |
| All other expenses | $130,366 |
| Total functional expenses | $3,007,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $535,513 |
| Savings and temporary cash investments | $789,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $264,539 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $70,885 |
| Prepaid expenses and deferred charges | $6,346 |
| Net Land, buildings, and equipment | $6,907,827 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,130 |
| Investments—program-related | $65,938 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,649,834 |
| Accounts payable and accrued expenses | $7,476 |
| Grants payable | $0 |
| Deferred revenue | $111,906 |
| 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 | $325,975 |
| Total liabilities | $445,357 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $11,070 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $8,193,407 |
| Total liabilities and net assets/fund balances | $8,649,834 |
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