New Hope Telephone Cooperative
- Assets
- $37.5m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 41
- Location
- New Hope, AL
- Founding
- 03/1954
- Data as of
- 12/2021
- EIN
- 63-0321560
Organization Overview
New Hope Telephone Cooperative is located in New Hope, AL. The organization was established in 1954. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, New Hope Telephone Cooperative employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope Telephone 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 12/2021, New Hope Telephone Cooperative generated $12.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $10.1m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TELECOMMUNICATION SERVICES TO MEMBERS OF THE COOPERATIVE LOCATED IN ITS RURAL SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE COOPERATIVE IS TO PROVIDE TELECOMMUNICATION SERVICES TO ITS MEMBERS LOCATED IN ITS RURAL SERVICE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Martin Manager | Officer | 40 | $167,006 |
Tammy Weeks Manager Administrative Services | 40 | $108,366 | |
Greg Glover Director | Trustee | 3 | $46,886 |
Jeff Cooper Director | 3 | $16,957 | |
Jim Duncan Director | Trustee | 3 | $12,839 |
Calvin Bearden Secretary | OfficerTrustee | 3 | $9,355 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alabama Resources Llc Construction | 12/30/16 | $649,643 |
K Jones Construction Construction | 12/30/16 | $169,078 |
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 | $12,741,028 |
| Investment income | $159,204 |
| 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 | $12,900,779 |
| 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 | $397,820 |
| Compensation of current officers, directors, key employees. | $405,451 |
| 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 | $118,611 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,356,601 |
| Insurance | $0 |
| All other expenses | $716,005 |
| Total functional expenses | $10,066,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,750,613 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,146,952 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $747,703 |
| Prepaid expenses and deferred charges | $426,240 |
| Net Land, buildings, and equipment | $28,032,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,444,181 |
| Total assets | $37,548,227 |
| Accounts payable and accrued expenses | $172,590 |
| 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 | $4,256,978 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $492,085 |
| Total liabilities | $4,921,653 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $32,626,574 |
| Total liabilities and net assets/fund balances | $37,548,227 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Central Telephone Cooperative Corp Lafayette, TN | $151,550,123 | $41,901,963 |
Ben Lomand Rural Telephone Cooperative Inc Mcminnville, TN | $135,020,409 | $32,327,349 |
Dekalb Telephone Cooperative Alexandria, TN | $99,962,174 | $26,158,817 |
Bledsoe Telephone Cooperative Pikeville, TN | $52,661,532 | $24,894,746 |
Pineland Telephone Cooperative Inc Metter, GA | $116,547,882 | $20,356,122 |
Highland Telephone Cooperative Inc Sunbright, TN | $81,089,190 | $24,131,946 |
Bulloch County Rural Telephone Cooperative Inc Statesboro, GA | $84,501,417 | $18,614,322 |
New Hope Telephone Cooperative New Hope, AL | $37,548,227 | $12,900,779 |
Mon-Cre Telephone Cooperative Inc Ramer, AL | $29,206,328 | $7,623,629 |
Progressive Rural Telephone Coop Inc Rentz, GA | $32,679,520 | $9,580,532 |
Georgia Communications Corporation Inc Cornelia, GA | $4,400,237 | $4,279,457 |
Stano Inc Wesley Chapel, FL | $115,277 | $0 |