Coweta Fayette Electric Membership
- Assets
- $469.2m
- Revenue
- $208.2m
- Investments
- $0.0
- Employees
- 219
- Location
- Palmetto, GA
- Founding
- 11/1948
- Data as of
- 12/2023
- EIN
- 58-0516995
Organization Overview
Coweta Fayette Electric Membership is located in Palmetto, GA. The organization was established in 1948. 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, Coweta Fayette Electric Membership employed 219 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coweta Fayette Electric Membership 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, Coweta Fayette Electric Membership generated $208.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $197.6m during the year ending 12/2023. While expenses have increased by 2.6% 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 THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James W Fulton III Chairman | OfficerTrustee | 10.56 | $37,124 |
J Neal Shepard Jr Vice Chairma | OfficerTrustee | 5 | $31,458 |
Daniel Langford Secretary-Tr | OfficerTrustee | 3.81 | $34,845 |
Therol R Brown Director | Trustee | 8.75 | $35,185 |
Donald Harris Director | Trustee | 1.82 | $27,645 |
Ross Henry Director | Trustee | 2.77 | $28,195 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mastec North America Inc Construction | 12/30/23 | $5,127,576 |
Meridian Cooperative Inc Technology | 12/30/23 | $4,126,123 |
Thompson Contracting Inc Contracting | 12/30/23 | $2,364,938 |
Thompson Contracting Inc Row | 12/30/23 | $2,364,938 |
Anixter Inc Materials | 12/30/23 | $1,909,747 |
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 | $197,343,872 |
| Investment income | $258,251 |
| 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 | $208,232,760 |
| 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 | $10,968,514 |
| Compensation of current officers, directors, key employees. | $987,860 |
| 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 | $7,169,884 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,487,567 |
| Insurance | $0 |
| All other expenses | $8,987,072 |
| Total functional expenses | $197,602,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,395,938 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,210,272 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,079,227 |
| Prepaid expenses and deferred charges | $398,335 |
| Net Land, buildings, and equipment | $309,487,533 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $118,610,753 |
| Intangible assets | $0 |
| Other assets | $11,052 |
| Total assets | $469,193,110 |
| Accounts payable and accrued expenses | $23,213,077 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $225,422,260 |
| Other liabilities | $11,748,421 |
| Total liabilities | $260,383,758 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,898,885 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $206,910,467 |
| Total liabilities and net assets/fund balances | $469,193,110 |