Pickwick Electric Cooperative
- Assets
- $91.1m
- Revenue
- $50.3m
- Investments
- $0.0
- Employees
- 79
- Location
- Selmer, TN
- Founding
- 12/1942
- Data as of
- 06/2024
- EIN
- 62-0325390
Organization Overview
Pickwick Electric Cooperative is located in Selmer, 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, Pickwick Electric Cooperative employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pickwick Electric Cooperative 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, Pickwick Electric Cooperative generated $50.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $50.3m during the year ending 06/2024. While expenses have increased by 2.1% 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 REASONABLY PRICED ELECTRICITY TO RURAL CONSUMERS IN THE TENNESSEE VALLEY REGION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRICITY DISTRIBUTION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Bowers President | Officer | 40 | $202,340 |
Steve King VP Of Finance | 40 | $151,270 | |
Joseph Lawson VP Of Operations | 40 | $150,324 | |
Jon Hughes VP Of Engineering | 40 | $142,433 | |
Brad Howell VP Of Human Resource | 40 | $122,686 | |
Scotty Ashe Engineering Services Manager | 40 | $124,784 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
W A Kendall & Co Llc Row Maintenance | 6/29/24 | $417,547 |
Groves Electrical Service Electric Line Maintenance | 6/29/24 | $1,875,863 |
Volunteer Vegetation Mgt Row Maintenance | 6/29/24 | $339,071 |
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 | $50,079,387 |
| Investment income | $192,777 |
| 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 | $50,272,164 |
| 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. | $959,262 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,057,899 |
| Pension plan accruals and contributions | $1,426,826 |
| Other employee benefits | $668,362 |
| Payroll taxes | $456,947 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,072 |
| Fees for services: Accounting | $46,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,348 |
| Advertising and promotion | $214,588 |
| Office expenses | $378,388 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $780,848 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,320,631 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,032,843 |
| Insurance | $258,524 |
| All other expenses | $905,932 |
| Total functional expenses | $50,261,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,126 |
| Savings and temporary cash investments | $4,108,634 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,789,911 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,250,776 |
| Prepaid expenses and deferred charges | $99,436 |
| Net Land, buildings, and equipment | $81,113,074 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,537,433 |
| Total assets | $91,080,390 |
| Accounts payable and accrued expenses | $9,507,202 |
| 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 | $30,737,901 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $40,245,103 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $84,090 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $50,751,197 |
| Total liabilities and net assets/fund balances | $91,080,390 |