Forked Deer Electric Coop Inc
- Assets
- $64.3m
- Revenue
- $27.3m
- Investments
- $325.0k
- Employees
- 49
- Location
- Halls, TN
- Founding
- 11/1941
- Data as of
- 06/2023
- EIN
- 62-0203915
Organization Overview
Forked Deer Electric Coop Inc is located in Halls, TN. The organization was established in 1941. 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 06/2023, Forked Deer Electric Coop Inc employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forked Deer Electric Coop 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 06/2023, Forked Deer Electric Coop Inc generated $27.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $25.6m during the year ending 06/2023. While expenses have increased by 3.0% per year over the past 6 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
ELECTRICITY SALES ARE GENERATED FROM SALES OF POWER TO THE COOPERATIVE MEMBERS. REVENUES ARE USED TO OFFSET PURCHASES OF POWER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRICITY SALES ARE GENERATED FROM SALES OF POWER TO THE COOPERATIVE MEMBERS. REVENUES ARE USED TO OFFSET PURCHASES OF POWER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffery Newman General Mana | Officer | 40 | $186,569 |
Keith Warren President | OfficerTrustee | 1 | $6,425 |
Ronnie Fisher Director | Trustee | 1 | $5,300 |
Ronnie Roberts Director | Trustee | 1 | $5,300 |
Lynn Burnett Vice Preside | OfficerTrustee | 1 | $0 |
Wally Childress Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
System Services Fiber Buildout | 6/29/20 | $1,597,136 |
Service Electric Co Electrical Jobs | 6/29/20 | $1,013,777 |
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 | $25,952,574 |
| Investment income | $1,213,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,315,041 |
| 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. | $220,189 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $691,329 |
| 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 | $64,528 |
| Office expenses | $223,315 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,697 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,297,232 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,316,833 |
| Insurance | $0 |
| All other expenses | -$867,701 |
| Total functional expenses | $25,551,489 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,981,388 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,295,763 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,215,030 |
| Prepaid expenses and deferred charges | $131,380 |
| Net Land, buildings, and equipment | $56,833,416 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $325,017 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,553,731 |
| Total assets | $64,335,725 |
| Accounts payable and accrued expenses | $2,327,262 |
| 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 | $35,762,177 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,941,219 |
| Total liabilities | $41,030,658 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $60,770 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,692,177 |
| Retained earnings, endowment, accumulated income, or other funds | $21,552,120 |
| Total liabilities and net assets/fund balances | $64,335,725 |