Forked Deer Electric Coop Inc
- Assets
- $61.2m
- Revenue
- $25.0m
- Investments
- $325.3k
- Employees
- 56
- Location
- Halls, TN
- Founding
- 11/1941
- Data as of
- 06/2022
- 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 06/2022, Forked Deer Electric Coop Inc employed 56 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 06/2022, Forked Deer Electric Coop Inc generated $25.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $23.4m during the year ending 06/2022. While expenses have increased by 2.4% 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
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 | $207,705 |
Ronnie Roberts Secretary/tr | OfficerTrustee | 1 | $5,075 |
Keith Warren President | OfficerTrustee | 1 | $4,850 |
Ronnie Fisher Vice Preside | OfficerTrustee | 1 | $4,725 |
Lynn Burnett Vice Preside | OfficerTrustee | 1 | $0 |
Joe Smith Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Service Electric Co Electrical Jobs | 6/29/20 | $1,013,777 |
System Services Fiber Buildout | 6/29/20 | $1,597,136 |
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 | $23,894,773 |
| Investment income | $1,000,178 |
| 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 | $25,026,166 |
| 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. | $215,643 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $631,854 |
| 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 | $57,664 |
| Office expenses | $211,026 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $103,636 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,214,769 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,861,647 |
| Insurance | $0 |
| All other expenses | -$888,349 |
| Total functional expenses | $23,426,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $942,106 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,372,635 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,139,655 |
| Prepaid expenses and deferred charges | $115,936 |
| Net Land, buildings, and equipment | $54,638,964 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $325,323 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,703,344 |
| Total assets | $61,237,963 |
| Accounts payable and accrued expenses | $2,325,735 |
| 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 | $34,198,962 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,172,236 |
| Total liabilities | $39,696,933 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $60,285 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,692,177 |
| Retained earnings, endowment, accumulated income, or other funds | $19,788,568 |
| Total liabilities and net assets/fund balances | $61,237,963 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tideland Electric Membership Corp Pantego, NC | $155,003,665 | $49,716,262 |
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
South Alabama Electric Cooperative Troy, AL | $170,308,337 | $49,282,613 |
Shelby Energy Cooperative Inc Shelbyville, KY | $128,023,912 | $48,869,118 |
Tri-County Electric Membership Corp Gray, GA | $134,615,818 | $47,083,595 |
Green Power Emc Tucker, GA | $4,289,905 | $48,321,829 |
Washington Electric Membership Corp Sandersville, GA | $120,334,964 | $48,227,831 |
Pee Dee Electric Membership Corporation Wadesboro, NC | $143,974,115 | $47,288,455 |
Haywood Electric Membership Corporation Waynesville, NC | $163,078,361 | $47,361,396 |
Cumberland Valley Electric Co-Op Corp Gray, KY | $124,042,321 | $47,250,559 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |