Electric Cooperative Foundation Inc
- Assets
- $431.2k
- Revenue
- $249.1k
- Investments
- $376.1k
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 01/2000
- Data as of
- 12/2021
- EIN
- 63-1190086
Organization Overview
Electric Cooperative Foundation Inc is located in Montgomery, AL. The organization was established in 2000. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Electric Cooperative Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Electric Cooperative Foundation Inc generated $249.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $233.7k during the year ending 12/2021. While expenses have increased by 14.1% 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.
Since 2015, Electric Cooperative Foundation Inc has awarded 873 individual grants totaling $1,094,200. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ELECTRIC COOPERATIVE FOUNDATION AWARDED EDUCATIONAL SCHOLARSHIPS TO DEPENDENTS OF ELECTRIC COOPERATIVE MEMBERS ACROSS THE STATE OF ALABAMA.
THE ELECTRIC COOPERATIVE FOUNDATION PROVIDED DISASTER RELIEF CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Parks Tubbs Director | 1 | $0 | |
Brian Matney Treasurer | 2 | $0 | |
Bobby Ballard Director | 1 | $0 | |
Vince Johnson Chairman | 1 | $0 | |
Steve Sheffield Director | 1 | $0 | |
George Kitchens Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $215,842 |
| Interest on Savings | $15 |
| Dividends & Interest | $30,182 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,058 |
| Capital Gain Net Income | $3,058 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $249,097 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,335 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $1,518 |
| Other expenses | $9,375 |
| Total operating and administrative expenses | $20,228 |
| Contributions, gifts, grants paid | $213,450 |
| Total expenses and disbursements | $233,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $55,064 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $376,146 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $431,210 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $65,816 |
| Total liabilities | $65,816 |
Grants Awarded
Over the last fiscal year, Electric Cooperative Foundation Inc has awarded $213,450 in support to 137 organizations.
| Grant Recipient | Amount |
|---|---|
MICHAEL MURPHY PURPOSE: DISASTER ASSISTANCE | $29,100 |
HEATH WILLIAMSON PURPOSE: DISASTER ASSISTANCE | $29,100 |
ASPEN ADAMS PURPOSE: EDUCATIONAL SCHOLARSHIP | $2,500 |
JACKSON BROOKS PURPOSE: EDUCATIONAL SCHOLARSHIP | $2,500 |
ABBIGAIL LUSTER PURPOSE: EDUCATIONAL SCHOLARSHIP | $2,500 |
CLEVELAND STOCKMAN PURPOSE: EDUCATIONAL SCHOLARSHIP | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |