Cullman Electric Cooperative
- Assets
- $276.8m
- Revenue
- $145.1m
- Investments
- $0.0
- Employees
- 132
- Location
- Cullman, AL
- Founding
- 04/1941
- Data as of
- 06/2023
- EIN
- 63-0052772
Organization Overview
Cullman Electric Cooperative is located in Cullman, AL. The organization was established in 1941. 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, Cullman Electric Cooperative employed 132 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cullman 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, Cullman Electric Cooperative generated $145.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $145.1m during the year ending 06/2023. While expenses have increased by 4.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CULLMAN ELECTRIC COOPERATIVE'S MISSION IS TO PROVIDE ELECTRIC SERVICE TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC SERVICE AND RELATED SERVICES TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Tidwell Chairperson | Trustee | 5 | $21,820 |
James Fields Vice Chairperson | Trustee | 3 | $20,680 |
Chad Alexander Treasurer | Trustee | 3 | $20,680 |
Lynda Carter Secretary | Trustee | 4 | $20,680 |
Sheila Sizemore Trustee | Trustee | 2 | $20,680 |
Daryl Calvert Trustee | Trustee | 1 | $20,680 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corbitt Power & Light Llc Overhead Utility Construction | 6/29/23 | $1,987,620 |
Meridian Cooperative Inc License And Support Fees | 6/29/23 | $993,151 |
Garnet Electric Co Inc Overhead Utility Construction | 6/29/23 | $677,859 |
Clyde Hooten & Sons Construction Inc Substation Site Preparation | 6/29/23 | $451,298 |
Pittman's Tree & Landscaping Inc Right Of Way Clearing | 6/29/23 | $449,276 |
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 | $140,022,507 |
| Investment income | $604,175 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,623,651 |
| 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 | $145,062,218 |
| 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 | $3,727,008 |
| Compensation of current officers, directors, key employees. | $857,292 |
| 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 | $3,084,169 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,161,426 |
| Insurance | $0 |
| All other expenses | $8,877,885 |
| Total functional expenses | $145,062,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,772,967 |
| Savings and temporary cash investments | $9,147,774 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,210,454 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,385,455 |
| Inventories for sale or use | $8,946,071 |
| Prepaid expenses and deferred charges | $5,573,473 |
| Net Land, buildings, and equipment | $237,925,276 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $26,205 |
| Intangible assets | $601,077 |
| Other assets | $222,717 |
| Total assets | $276,811,469 |
| Accounts payable and accrued expenses | $29,058,536 |
| 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 | $114,747,612 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $29,554 |
| Total liabilities | $143,835,702 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $186,775 |
| Paid-in or capital surplus, or land, building, or equipment fund | $200,000 |
| Retained earnings, endowment, accumulated income, or other funds | $132,588,992 |
| Total liabilities and net assets/fund balances | $276,811,469 |