Tallapoosa River Electric Cooperative Inc
- Assets
- $165.9m
- Revenue
- $71.0m
- Investments
- $0.0
- Employees
- 79
- Location
- Lafayette, AL
- Founding
- 05/1947
- Data as of
- 12/2022
- EIN
- 63-0205975
Organization Overview
Tallapoosa River Electric Cooperative Inc is located in Lafayette, AL. The organization was established in 1947. 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, Tallapoosa River Electric Cooperative Inc employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tallapoosa River 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, Tallapoosa River Electric Cooperative Inc generated $71.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $70.3m during the year ending 12/2022. While expenses have increased by 3.5% 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 DEPENDABLE ELECTRIC SERVICE AT THE LOWEST POSSIBLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH APPROXIMATELY 4,082 MILES OF DISTRIBUTION LINES, TALLAPOOSA RIVER ELECTRIC COOPERATIVE PROVIDED 582,730,200 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS MEMBERS.
COMPENSATION PROCESS - THE GOVERNING BODY EXAMINES STATE, REGIONAL, AND NATIONAL PAYROLL PAY SCALES AND COMPARES THEM TO THE EXISTING PAY RATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lewis Ward General Mana | Officer | 50 | $265,440 |
Parker Goodman Mgr Engineer | 40 | $162,291 | |
Wanda Brushwood Mgr Of Consu | 50 | $137,884 | |
Kevin Hand Member Servi | 45 | $116,575 | |
Cb Parker Jr President | OfficerTrustee | 1 | $31,885 |
Jeff Dodgen Trustee | Trustee | 1 | $30,480 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sedc Comp Support | 12/30/22 | $672,776 |
Asplundh Tree Expert Co Row Maint | 12/30/22 | $455,523 |
Southern Line Contractors Row Maint | 12/30/22 | $993,457 |
Duke's Hauling Service W/o Construct | 12/30/22 | $574,202 |
Osmose Utilities Services Pole Testing | 12/30/22 | $420,170 |
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 | $69,721,381 |
| Investment income | $1,139,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $70,999,867 |
| 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 | $2,399,908 |
| Compensation of current officers, directors, key employees. | $413,318 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $416,750 |
| 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 | $456,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,455,734 |
| Insurance | $0 |
| All other expenses | $2,701,387 |
| Total functional expenses | $70,347,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,249,191 |
| Savings and temporary cash investments | $5,412,395 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,342,659 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,879,673 |
| Prepaid expenses and deferred charges | $260,614 |
| Net Land, buildings, and equipment | $119,446,592 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $27,320,809 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $165,911,933 |
| Accounts payable and accrued expenses | $8,506,415 |
| 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 | $12,969,059 |
| Unsecured mortgages and notes payable | $4,500,000 |
| Other liabilities | $5,705,760 |
| Total liabilities | $31,681,234 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $118,375 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $134,112,324 |
| Total liabilities and net assets/fund balances | $165,911,933 |