Caney Fork Electric Cooperative Inc
- Assets
- $157.2m
- Revenue
- $77.4m
- Investments
- $0.0
- Employees
- 86
- Location
- Mcminnville, TN
- Founding
- 11/1942
- Data as of
- 06/2024
- EIN
- 62-0148804
Organization Overview
Caney Fork Electric Cooperative Inc is located in Mcminnville, TN. 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 06/2024, Caney Fork Electric Cooperative Inc employed 86 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caney Fork 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 06/2024, Caney Fork Electric Cooperative Inc generated $77.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $72.6m during the year ending 06/2024. While expenses have increased by 1.8% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC SERVICE IN RURAL AREAS TO THE MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC SERVICE IN RURAL AREAS TO THE MEMBERS OF THE COOPERATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Newman Prior General Mgr | 45 | $174,768 | |
James Milraney Dir. Engineering | 46.57 | $150,158 | |
Kim Henry Controller | 45 | $132,051 | |
Danny Sutton Operations Director | 50 | $126,870 | |
James Watson Lineman | 45 | $119,728 | |
Jason Cloyd General Manager | 45 | $113,446 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
J&l Tree Services Llc Tree Service | 6/29/24 | $1,629,423 |
T & M Distribution Power Llc Construction | 6/29/24 | $866,779 |
Ct Consultants Building Design | 6/29/24 | $759,540 |
Cooperative Building Solutions Building Construction | 6/29/24 | $637,797 |
Jkg Utility Contractor | 6/29/24 | $500,035 |
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 | $76,872,730 |
| Investment income | $490,022 |
| 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 | $77,375,635 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $689,880 |
| 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 | $1,147,291 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,283,198 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $72,594,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,896,345 |
| Savings and temporary cash investments | $1,984,586 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,426,696 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,052,691 |
| Inventories for sale or use | $1,327,632 |
| Prepaid expenses and deferred charges | $766,316 |
| Net Land, buildings, and equipment | $135,617,669 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100,650 |
| Total assets | $157,172,585 |
| Accounts payable and accrued expenses | $18,364,467 |
| 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 | $37,085,261 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,864,702 |
| Total liabilities | $64,314,430 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $181,370 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $92,676,785 |
| Total liabilities and net assets/fund balances | $157,172,585 |