Caney Fork Electric Cooperative Inc
- Assets
- $145.3m
- Revenue
- $73.5m
- Investments
- $0.0
- Employees
- 87
- Location
- Mcminnville, TN
- Founding
- 11/1942
- Data as of
- 06/2022
- 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 06/2022, Caney Fork Electric Cooperative Inc employed 87 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 06/2022, Caney Fork Electric Cooperative Inc generated $73.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $67.2m during the year ending 06/2022. While expenses have increased by 1.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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 |
|---|---|---|---|
William Rogers Manager | 45 | $162,688 | |
Danny Sutton Operations Director | 50 | $119,314 | |
Kim Henry Controller | 45 | $116,905 | |
James Watson Working Foreman | 46.57 | $116,417 | |
Brandon Johnson Working Foreman | 47.85 | $112,524 | |
Phillip Powell Working Foreman | 44.47 | $110,616 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckenzie Tree Service Inc Tree Service | 6/29/22 | $329,042 |
Chempro Services Inc Right Of Way Management | 6/29/22 | $140,239 |
G&g Tree Service Llc Tree Service | 6/29/22 | $255,550 |
T & M Distribution Power Llc Construction | 6/29/22 | $552,774 |
J&l Tree Services Llc Tree Service | 6/29/22 | $1,309,013 |
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 | $73,140,308 |
| Investment income | $378,241 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,102 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $73,547,577 |
| 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. | $574,969 |
| 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 | $1,253,821 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,719,490 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $67,215,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,119,687 |
| Savings and temporary cash investments | $1,785,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,816,531 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,198,163 |
| Inventories for sale or use | $896,442 |
| Prepaid expenses and deferred charges | $729,709 |
| Net Land, buildings, and equipment | $114,771,340 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $145,317,750 |
| Accounts payable and accrued expenses | $13,352,836 |
| 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 | $40,890,017 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,668,592 |
| Total liabilities | $70,911,445 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $172,455 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $74,233,850 |
| Total liabilities and net assets/fund balances | $145,317,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
4-County Electric Power Association Columbus, MS | $315,642,901 | $133,649,967 |
Satilla Rural Electric Membership Corp Alma, GA | $268,716,625 | $122,190,964 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Diverse Power Incorporated Lagrange, GA | $239,882,222 | $117,829,336 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Northcentral Electric Cooperative Olive Branch, MS | $185,941,805 | $125,968,963 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Tombigbee Electric Power Assn Tupelo, MS | $221,161,642 | $118,553,499 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Blue Ridge Mountain Electric Membership Corp 101-10 Irc Young Harris, GA | $245,553,260 | $112,097,199 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |