Coosa Valley Electric Cooperative Inc
- Assets
- $161.9m
- Revenue
- $50.1m
- Investments
- $19.5m
- Employees
- 75
- Location
- Talladega, AL
- Founding
- 03/1944
- Data as of
- 12/2022
- EIN
- 63-0049012
Organization Overview
Coosa Valley Electric Cooperative Inc is located in Talladega, AL. The organization was established in 1944. 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, Coosa Valley Electric Cooperative Inc employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coosa Valley Electric Cooperative 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 12/2022, Coosa Valley Electric Cooperative Inc generated $50.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $50.1m during the year ending 12/2022. While expenses have increased by 4.1% 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
COOSA VALLEY ELECTRIC COOPERATIVE IS A MEMBER OWNED AND OPERATED TOTAL ENERGY COOPERATIVE PROVIDING ECONOMIC AND COMMUNITY DEVELOPMENT WHILE DELIVERING HIGH QUALITY SERVICES AT COMPETITIVE RATES WITH COMPETENT AND WELL-TRAINED EMPLOYEES ADHERING TO STRONG AND ETHICAL BUSINESS PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COOSA VALLEY ELECTRIC COOPERATIVE IS A MEMBER-OWNED DISTRIBUTION COOPERATIVE WHICH PROVIDES ELECTRIC SERVICE TO APPROXIMATELY 14,165 MEMBERS LOCATED IN ALABAMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Land Vice President | OfficerTrustee | 4 | $13,000 |
Marilyn George Davis President | OfficerTrustee | 4 | $20,450 |
Buddy Watson Director | Trustee | 4 | $15,350 |
John M Davis Director | Trustee | 4 | $13,900 |
Michael Hubbard Secretary/treasurer | OfficerTrustee | 4 | $23,200 |
Sammy Gallman Director | Trustee | 4 | $22,650 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Broadband Technical Resources Inc Fiber Internet Labor | 12/30/22 | $4,722,438 |
Southern States Utility Llc Fiber Internet Labor | 12/30/22 | $1,075,773 |
Utility Design Partners Fiber Internet Design | 12/30/22 | $1,496,277 |
Goodgame Company Inc Remodel Construction | 12/30/22 | $770,340 |
Tree Services Of Alabama Right Of Way Trimming | 12/30/22 | $168,106 |
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 | $48,139,307 |
| Investment income | $940,691 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,002,755 |
| 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 | $50,119,583 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,699 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,455,533 |
| Compensation of current officers, directors, key employees. | $552,671 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $2,264,683 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,598,786 |
| Insurance | $0 |
| All other expenses | $1,358,975 |
| Total functional expenses | $50,119,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,099,720 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,484,189 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,213,882 |
| Inventories for sale or use | $2,425,038 |
| Prepaid expenses and deferred charges | $84,308 |
| Net Land, buildings, and equipment | $126,060,215 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $19,513,634 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,043,564 |
| Total assets | $161,924,550 |
| Accounts payable and accrued expenses | $6,666,011 |
| 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 | $95,712,885 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,813,592 |
| Total liabilities | $104,192,488 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $73,680 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $57,658,382 |
| Total liabilities and net assets/fund balances | $161,924,550 |