Volunteer Energy Cooperative is located in Decatur, TN. The organization was established in 1956. 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, Volunteer Energy Cooperative employed 163 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Volunteer Energy 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 06/2022, Volunteer Energy Cooperative generated $270.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $259.1m during the year ending 06/2022. While expenses have increased by 2.3% 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 ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 123,380 CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 123,380 CUSTOMERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Roderick R Blevins President/ce | Officer | 50 | $350,750 |
Paul Killian Working/sub | 57 | $156,185 | |
Dustin Bates Lineman | 67 | $143,860 | |
Michael Bice Lineman | 62 | $143,769 | |
Mark Kennedy Lineman | 62 | $143,048 | |
Mark Verstynen VP Accountin | Officer | 55 | $143,025 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Wa Kendall And Company Llc Tree Trimming | 6/29/22 | $5,441,414 |
Galloway Construction Llc Tree Trimming | 6/29/22 | $1,683,451 |
Mps Llc Line Construct. | 6/29/22 | $3,077,225 |
Advanced Power & Lighting Llc Fiber Construct | 6/29/22 | $492,013 |
Red Stag Contractors Llc Fiber Construct | 6/29/22 | $1,326,139 |
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 | $265,439,077 |
Investment income | $601,546 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $4,079,869 |
Net Gain/Loss on Asset Sales | -$82,985 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $270,037,507 |
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. | $880,030 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $8,600,263 |
Pension plan accruals and contributions | $625,507 |
Other employee benefits | $0 |
Payroll taxes | $567,134 |
Fees for services: Management | $0 |
Fees for services: Legal | $148,446 |
Fees for services: Accounting | $173,132 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $78,988 |
Advertising and promotion | $74,748 |
Office expenses | $887,142 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $2,765,944 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $442,003 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $18,909,793 |
Insurance | $659,849 |
All other expenses | $1,591,452 |
Total functional expenses | $259,057,141 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $33,268,022 |
Savings and temporary cash investments | $17,878,173 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $20,335,647 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $5,890,404 |
Inventories for sale or use | $11,227,589 |
Prepaid expenses and deferred charges | $876,046 |
Net Land, buildings, and equipment | $267,423,786 |
Investments—publicly traded securities | $9,240,250 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $3,322,929 |
Total assets | $369,462,846 |
Accounts payable and accrued expenses | $46,231,226 |
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 | $9,899,969 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $12,353,880 |
Total liabilities | $68,485,075 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $480,995 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $300,496,776 |
Total liabilities and net assets/fund balances | $369,462,846 |
Organization Name | Assets | Revenue |
---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |