Marshall-Dekalb Electric Cooperative
- Assets
- $96.1m
- Revenue
- $18.5m
- Investments
- $27.7k
- Employees
- 58
- Location
- Boaz, AL
- Founding
- 00/0000
- Data as of
- 06/2022
- EIN
- 63-0132555
Organization Overview
Marshall-Dekalb Electric Cooperative is located in Boaz, AL. The organization was established in 0000. 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, Marshall-Dekalb Electric Cooperative employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshall-Dekalb 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 06/2022, Marshall-Dekalb Electric Cooperative generated $18.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $15.4m during the year ending 06/2022. 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
SALE OF ELECTRIC POWER
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY PURCHASED FROM TVA 20,700 CUSTOMERS SERVED
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William S Bobo Manager | Officer | 40 | $158,357 |
Eric Lester Chief Engineer | Officer | 40 | $138,760 |
Chris Cornelius Service Supervisor | Officer | 40 | $123,292 |
Terry Turk Construction Supervisor | Officer | 40 | $119,457 |
Jennifer Oliver CFO | Officer | 40 | $101,168 |
Lavaughn Holcomb President | OfficerTrustee | 5 | $15,275 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corbitt Power And Light Llc Installation And Servicing Of Utility Li | 6/29/22 | $1,067,028 |
Duckett Construction Construction | 6/29/22 | $396,329 |
Landers' Land Improvement Llc Landscaping | 6/29/22 | $272,355 |
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 | $634,546 |
| Investment income | $76,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $906,121 |
| 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 | $16,927,950 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,545,582 |
| 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. | $251,548 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,767,193 |
| Other employee benefits | $64,846 |
| Payroll taxes | $254,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $88,178 |
| 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 | $110,037 |
| Office expenses | $87,368 |
| 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 | $596,752 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,949,468 |
| Insurance | $0 |
| All other expenses | $1,522,625 |
| Total functional expenses | $15,393,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,576,520 |
| Savings and temporary cash investments | $4,638,265 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,347,185 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $710,900 |
| Prepaid expenses and deferred charges | $157,313 |
| Net Land, buildings, and equipment | $83,709,121 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $27,655 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $898,767 |
| Total assets | $96,065,726 |
| Accounts payable and accrued expenses | $16,849,508 |
| 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 | $15,299,108 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $504,452 |
| Total liabilities | $32,653,068 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $146,597 |
| Paid-in or capital surplus, or land, building, or equipment fund | $91,679 |
| Retained earnings, endowment, accumulated income, or other funds | $63,174,382 |
| Total liabilities and net assets/fund balances | $96,065,726 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Marshall-Dekalb Electric Cooperative has recieved totaling $23,476.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $23,476 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Alabama Electric Cooperative Troy, AL | $170,308,337 | $49,282,613 |
Tri-County Electric Membership Corp Gray, GA | $134,615,818 | $47,083,595 |
Green Power Emc Tucker, GA | $4,289,905 | $48,321,829 |
Washington Electric Membership Corp Sandersville, GA | $120,334,964 | $48,227,831 |
Glades Electric Cooperative Inc Moore Haven, FL | $161,782,312 | $48,091,889 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
Excelsior Electric Membership Corporation Metter, GA | $119,361,267 | $45,904,608 |
Pea River Electric Cooperative Ozark, AL | $110,632,555 | $43,695,201 |
Tennessee Valley Electric Cooperative Savannah, TN | $70,169,300 | $47,105,536 |
Black Warrior Electric Membership Corporation Demopolis, AL | $79,787,919 | $42,843,236 |
Coosa Valley Electric Cooperative Inc Talladega, AL | $137,764,324 | $42,681,564 |
Grady Electric Membership Corporation Cairo, GA | $133,402,414 | $41,955,759 |