Snapping Shoals Electric Trust Inc
- Assets
- $122.5k
- Revenue
- $447.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Covington, GA
- Founding
- 08/1993
- Data as of
- 12/2021
- EIN
- 58-2058035
Organization Overview
Snapping Shoals Electric Trust Inc is located in Covington, GA. The organization was established in 1993. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Snapping Shoals Electric Trust Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Snapping Shoals Electric Trust Inc generated $447.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $452.4k during the year ending 12/2021. While expenses have increased by 2.6% 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.
Since 2018, Snapping Shoals Electric Trust Inc has awarded 42 individual grants totaling $639,575. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCUMULATE AND DISTRIBUTE FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF SNAPPING SHOALS ELECTRIC MEMBERSHIP CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACCUMULATE AND DISTRIBUTE FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF SNAPPING SHOALS ELECTRIC MEMBERSHIP CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tommy Moseley Chairman | OfficerTrustee | 4 | $0 |
Don Garrard Secretary | OfficerTrustee | 2 | $0 |
Ben Mainor Vice Chairma | OfficerTrustee | 3 | $0 |
Miriam Avery Director | Trustee | 2 | $0 |
Pam Vining Director | Trustee | 2 | $0 |
Benson Dial Director | Trustee | 2 | $0 |
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 | $447,686 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $447,686 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $447,686 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $321,114 |
| Grants and other assistance to domestic individuals. | $131,248 |
| 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 | $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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $452,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,195 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,340 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $122,535 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $122,535 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $122,535 |
Grants Awarded
Over the last fiscal year, Snapping Shoals Electric Trust Inc has awarded $97,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Stockbridge, GA PURPOSE: DONATION | $17,500 |
Conyers, GA PURPOSE: DONATION | $10,000 |
Covington, GA PURPOSE: DONATION | $10,000 |
Atlanta, GA PURPOSE: DONATION | $10,000 |
Newton, MA PURPOSE: DONATION | $7,500 |
Conyers, GA PURPOSE: DONATION | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Capital Inc Decatur, GA | $142,652,504 | $11,518,951 |
Housing Affordability Trust Nashville, TN | $52,052,062 | $6,258,607 |
Eastern Eight Community Development Corporation Johnson City, TN | $18,111,272 | $3,788,608 |
Westminster Retirement Communities Foundation Inc Orlando, FL | $107,356,228 | $16,462,536 |
Monroe County Homeless Services Continuum-Of-Care Inc Key West, FL | $1,465,699 | $1,566,817 |
Philos Enterprises Inc St Augustine, FL | $1,789,021 | $349,366 |
Captrust Community Foundation Inc Raleigh, NC | $4,464,164 | $1,082,695 |
Thomasville-Thomas County Habitat For Humanity Inc Thomasville, GA | $1,651,165 | $641,558 |
Santafe Senior Living Foundation Inc Gainesville, FL | $7,576,481 | $882,268 |
Snapping Shoals Electric Trust Inc Covington, GA | $122,535 | $447,686 |
Suncoast Charities For Children Inc Sarasota, FL | $380,847 | $462,053 |
Habitat For Humanity Of North Carolina Inc Raleigh, NC | $680,613 | $355,089 |