Highland Telephone Cooperative
- Assets
- $9.7m
- Revenue
- $3.2m
- Investments
- $9.1k
- Employees
- 7
- Location
- Monterey, VA
- Founding
- 07/1980
- Data as of
- 12/2023
- 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 12/2023, Highland Telephone Cooperative employed 7 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 12/2023, Highland Telephone Cooperative generated $3.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $3.2m during the year ending 12/2023. While expenses have increased by 5.9% per year over the past 9 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
2023
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 1,100 MEMBERS LOCATED IN HIGHLAND COUNTY, VIRGINIA.
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 |
|---|---|---|---|
Sarah Shifflett Director | Trustee | 2 | $1,200 |
Carol Swecker Director/ Vice President | OfficerTrustee | 2 | $1,200 |
Garland Dever Director/president | OfficerTrustee | 2 | $1,850 |
Debbi Stephenson Director | Trustee | 2 | $1,050 |
Nancy Witschey Director | Trustee | 2 | $1,250 |
Troy Snead Director | Trustee | 2 | $1,200 |
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 | $3,189,335 |
| Investment income | $28,587 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $246 |
| 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 | $3,228,613 |
| 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 | $740,741 |
| Compensation of current officers, directors, key employees. | $205,154 |
| 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 | $1 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $827,306 |
| Insurance | $0 |
| All other expenses | $139,527 |
| Total functional expenses | $3,195,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $592,245 |
| Savings and temporary cash investments | $1,375,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $285,961 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $135,108 |
| Prepaid expenses and deferred charges | $13,223 |
| Net Land, buildings, and equipment | $7,261,494 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,130 |
| Investments—program-related | $68,883 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,741,140 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $82,454 |
| 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 | $331,865 |
| Total liabilities | $414,319 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $11,230 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $9,315,591 |
| Total liabilities and net assets/fund balances | $9,741,140 |