Central Alabama Electric Cooperative
- Assets
- $384.1m
- Revenue
- $115.6m
- Investments
- $0.0
- Employees
- 176
- Location
- Prattville, AL
- Founding
- 03/1964
- Data as of
- 12/2022
- EIN
- 63-0038505
Organization Overview
Central Alabama Electric Cooperative is located in Prattville, AL. The organization was established in 1964. 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 12/2022, Central Alabama Electric Cooperative employed 176 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Alabama 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 12/2022, Central Alabama Electric Cooperative generated $115.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $107.6m during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 8 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 UTILITY SERVICE TO COOPERATIVE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC UTILITY SERVICE TO APPROXIMATELY 35,818 COOPERATIVE MEMBERS.
PROVIDED ELECTRIC UTILITY SERVICE TO APPROXIMATELY 35,818 COOPERATIVE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Stackhouse President/ce | Officer | 60 | $389,352 |
James Gray VP Engineer/ | Officer | 50 | $221,069 |
Damali Clark VP Corp/fina | Officer | 45 | $203,078 |
Julie Young VP Business | Officer | 55 | $223,814 |
Aaron Ismail VP Customer/ | Officer | 40 | $192,590 |
Scott Lee Mgr-It | 80 | $166,181 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Heritage Communication Contract Serv. | 12/30/22 | $11,669,515 |
Asplundh Row Expenses | 12/30/22 | $5,470,403 |
Petty Line Construction Row Expenses | 12/30/22 | $1,909,022 |
Utility Lines Construction Row Expenses | 12/30/22 | $915,608 |
Fiberrise Communications Consulting | 12/30/22 | $882,365 |
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 | $105,980,445 |
| Investment income | $57,220 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,705,649 |
| 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 | $115,611,869 |
| 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 | $927,687 |
| Compensation of current officers, directors, key employees. | $1,755,673 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $798,095 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,612,638 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,374,707 |
| Insurance | $0 |
| All other expenses | $4,777,648 |
| Total functional expenses | $107,596,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,831,023 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,642,693 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,806,748 |
| Prepaid expenses and deferred charges | $589,682 |
| Net Land, buildings, and equipment | $297,729,291 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $55,013,250 |
| Intangible assets | $504,137 |
| Other assets | $0 |
| Total assets | $384,116,824 |
| Accounts payable and accrued expenses | $10,007,512 |
| 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 | $230,185,674 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,080,297 |
| Total liabilities | $262,273,483 |
| 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 | $181,800 |
| Retained earnings, endowment, accumulated income, or other funds | $121,661,541 |
| Total liabilities and net assets/fund balances | $384,116,824 |