Wire Grass Electric Cooperative Inc
- Assets
- $159.7m
- Revenue
- $61.3m
- Investments
- $0.0
- Employees
- 67
- Location
- Hartford, AL
- Founding
- 03/1943
- Data as of
- 12/2023
- EIN
- 63-0229728
Organization Overview
Wire Grass Electric Cooperative Inc is located in Hartford, AL. The organization was established in 1943. 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 12/2023, Wire Grass Electric Cooperative Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wire Grass 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 12/2023, Wire Grass Electric Cooperative Inc generated $61.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $61.3m during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 9 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
TO PROVIDE ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTILIZING APPROXIMATELY 3,245 MILES OF ELECTRIC DISTRIBUTION LINES, WIREGRASS ELECTRIC COOPERATIVE PROVIDED 395,436,682 KILOWATT HOURS OF ELECTRIC ENERGY TO OVER 19,200 CONSUMER-MEMBERS IN HOUSTON AND GENEVA COUNTIES IN ALABAMA AND PARTS OF DALE, COFFEE, HENRY, AND COVINGTON COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Clark Trustee | Trustee | 7 | $17,803 |
Debra Baxley Trustee - Secretary | Trustee | 10 | $18,013 |
Ford Justice Trustee | Trustee | 12 | $17,668 |
David Winstead Trustee - President | Trustee | 20 | $17,878 |
Gregory Mccullough Trustee | Trustee | 16 | $17,802 |
Danny B Mcneil Trustee | Trustee | 12 | $17,998 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Powergrid Services Work Plan | 12/30/23 | $2,642,858 |
Palmetto Line Contractors Right Of Way | 12/30/23 | $872,170 |
Providence Tree Service Right Of Way | 12/30/23 | $622,881 |
Osmose Utilities Services Pole Inspections | 12/30/23 | $251,091 |
Entech Llc It | 12/30/23 | $282,920 |
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 | $60,084,902 |
| Investment income | $421,344 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $488,148 |
| Net Gain/Loss on Asset Sales | $102,694 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,260,471 |
| 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 | $3,845,434 |
| Compensation of current officers, directors, key employees. | $1,270,703 |
| 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 | $2,048,306 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,575,418 |
| Insurance | $0 |
| All other expenses | $2,881,798 |
| Total functional expenses | $61,260,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,683,654 |
| Savings and temporary cash investments | $72,755 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,163,211 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,456,431 |
| Prepaid expenses and deferred charges | $247,973 |
| Net Land, buildings, and equipment | $115,663,734 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $28,413,743 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $159,701,501 |
| Accounts payable and accrued expenses | $6,029,812 |
| Grants payable | $0 |
| Deferred revenue | $3,200,000 |
| 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 | $67,326,260 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,501,531 |
| Total liabilities | $79,057,603 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $97,080 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $80,546,818 |
| Total liabilities and net assets/fund balances | $159,701,501 |