Tennessee Valley Electric Cooperative
- Assets
- $72.8m
- Revenue
- $50.1m
- Investments
- $0.0
- Employees
- 94
- Location
- Savannah, TN
- Founding
- 06/1947
- Data as of
- 06/2023
- EIN
- 62-0382231
Organization Overview
Tennessee Valley Electric Cooperative is located in Savannah, TN. The organization was established in 1947. 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, Tennessee Valley Electric Cooperative employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee Valley 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 06/2023, Tennessee Valley Electric Cooperative generated $50.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $47.5m during the year ending 06/2023. While expenses have increased by 1.9% per year over the past 4 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
FORM 990, PART III, LINE 4D: TO PROVIDE OUR CONSUMER CUSTOMERS WITH SAFE, RELIABLE ELECTRICITY AT THE LOWEST POSSIBLE PRICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRICTY TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald L Taylor Jr General Mana | Officer | 40 | $195,605 |
Patrick Mclin Lineman | 40 | $122,102 | |
Grady E Berry District Ope | 40 | $116,369 | |
Tracy Martin Lineman | 40 | $113,695 | |
Don Doran Operating Su | 40 | $111,034 | |
Harold Gipson Lineman | 40 | $108,680 |
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 | $49,604,934 |
| Investment income | $532,280 |
| 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 | $50,137,214 |
| 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. | $237,605 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,156,148 |
| Pension plan accruals and contributions | $361,934 |
| Other employee benefits | $1,378,712 |
| Payroll taxes | $439,387 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,709 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,840 |
| Fees for services: Other | $1,850 |
| Advertising and promotion | $219,457 |
| Office expenses | $404,634 |
| Information technology | $140,836 |
| Royalties | $0 |
| Occupancy | $763,986 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $89,974 |
| Interest | $144,475 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,775,986 |
| Insurance | $253,268 |
| All other expenses | $35,118,532 |
| Total functional expenses | $47,528,333 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,035,854 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,625,773 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,024,815 |
| Prepaid expenses and deferred charges | $5,262,913 |
| Net Land, buildings, and equipment | $45,321,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,505,682 |
| Total assets | $72,776,537 |
| Accounts payable and accrued expenses | $6,589,517 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $5,929,431 |
| Other liabilities | $5,364,857 |
| Total liabilities | $17,883,805 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $54,892,732 |
| Total liabilities and net assets/fund balances | $72,776,537 |