Talquin Electric Cooperative Inc
- Assets
- $322.0m
- Revenue
- $129.3m
- Investments
- $0.0
- Employees
- 205
- Location
- Quincy, FL
- Founding
- 12/1942
- Data as of
- 12/2021
- EIN
- 59-0474475
Organization Overview
Talquin Electric Cooperative Inc is located in Quincy, FL. The organization was established in 1942. 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, Talquin Electric Cooperative Inc employed 205 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Talquin Electric Cooperative Inc 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, Talquin Electric Cooperative Inc generated $129.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $125.3m during the year ending 12/2021. 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 ELECTRIC SERVICE TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy A Bensley General Manager | Officer | 27.5 | $407,605 |
Tim Waddle Director Of Water & Ww | Officer | 0 | $227,524 |
Sean Alderman Director Of Finance | Officer | 22.5 | $205,905 |
Mike Temple Dir Of Administration | 40 | $192,487 | |
Dane Clemons Director Of It & Comm. | 40 | $187,976 | |
David Ferrell Water Services Operations | 0 | $162,234 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nelson Tree Service Inc Tree Trimming | 12/30/21 | $2,121,641 |
Burford's Tree Llc Tree Trimming | 12/30/21 | $1,321,749 |
Sumter Utilities Inc Directional Bores | 12/30/21 | $876,893 |
Ausley & Mcmullen Pa Legal Services | 12/30/21 | $333,805 |
Pike Electric Inc Distribution Construction | 12/30/21 | $2,631,439 |
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 | $36,207 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,207 |
| Total Program Service Revenue | $128,944,464 |
| Investment income | $270,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29,227 |
| Net Gain/Loss on Asset Sales | $59,090 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $129,343,789 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,207 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,065,547 |
| Compensation of current officers, directors, key employees. | $1,353,788 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,334,433 |
| 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 | $5,146,001 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,444,760 |
| Insurance | $0 |
| All other expenses | $2,214,942 |
| Total functional expenses | $125,341,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,910,275 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,882,346 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,562,413 |
| Inventories for sale or use | $1,556,560 |
| Prepaid expenses and deferred charges | $2,172,037 |
| Net Land, buildings, and equipment | $225,996,819 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $63,891,548 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $321,971,998 |
| Accounts payable and accrued expenses | $12,351,623 |
| 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 | $156,313,202 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,796,681 |
| Total liabilities | $186,461,506 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $220,730 |
| Paid-in or capital surplus, or land, building, or equipment fund | $6,331,429 |
| Retained earnings, endowment, accumulated income, or other funds | $128,958,333 |
| Total liabilities and net assets/fund balances | $321,971,998 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Lee County Electric Cooperative Inc North Fort Myers, FL | $850,449,864 | $497,387,726 |
Withlacoochee River Electric Cooperative Inc Dade City, FL | $1,217,179,383 | $476,736,829 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sumter Electric Cooperative Inc Sumterville, FL | $962,585,573 | $440,111,118 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Clay Electric Cooperative Inc Keystone Heights, FL | $801,967,548 | $374,561,378 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |
Greystone Power Corporation An Electric Membership Corporation Douglasville, GA | $623,308,885 | $319,065,747 |
Flint Electric Membership Corporation Reynolds, GA | $439,600,941 | $250,834,907 |