C & L Electric Cooperative Corporation
- Assets
- $168.3m
- Revenue
- $48.1m
- Investments
- $0.0
- Employees
- 95
- Location
- Star City, AR
- Founding
- 03/1940
- Data as of
- 12/2023
- EIN
- 71-0025315
Organization Overview
C & L Electric Cooperative Corporation is located in Star City, AR. The organization was established in 1940. 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, C & L Electric Cooperative Corporation employed 95 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. C & L Electric Cooperative Corporation 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, C & L Electric Cooperative Corporation generated $48.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $44.3m during the year ending 12/2023. While expenses have increased by 1.4% 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
SALES OF ELECTRICITY TO RURAL MEMBERS OF THE COOPERATIVE AND MAINTAIN THE DISTRIBUTION POWER LINES IN THE SERVICE AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASE, DISTRIBUTION AND SALE OF ELECTRICITY TO RURAL MEMBERS, MEMBERS SERVED - 14,981; NO. OF SERVICES - 22,499
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Vondran General Manager | Officer | 40 | $183,294 |
Shawn Harvey Serviceman | 40 | $163,432 | |
James Mcgee Construction Supervisor | 40 | $138,273 | |
Brian Lowery Manager Of Office Services | 40 | $134,311 | |
John Gatlin Serviceman | 40 | $137,110 | |
Steven Greenwood Serviceman | 40 | $132,484 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Irby Construction | 12/30/23 | $805,205 |
Kenny's Dozer Service Inc Right Of Way | 12/30/23 | $1,703,400 |
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 | $46,821,704 |
| Investment income | $1,296,402 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,201 |
| 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 | $48,131,307 |
| 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. | $888,904 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,336,180 |
| Pension plan accruals and contributions | $1,819,505 |
| Other employee benefits | $2,254,988 |
| Payroll taxes | $633,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,679 |
| Fees for services: Accounting | $30,950 |
| 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 | $335,096 |
| 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 | $19,214 |
| Interest | $3,210,113 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,314,931 |
| Insurance | $249,934 |
| All other expenses | $87,635 |
| Total functional expenses | $44,277,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $579,327 |
| Savings and temporary cash investments | $21,006,325 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,401,194 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,469,550 |
| Prepaid expenses and deferred charges | $228,771 |
| Net Land, buildings, and equipment | $123,144,442 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,088,466 |
| Intangible assets | $0 |
| Other assets | $370,750 |
| Total assets | $168,288,825 |
| Accounts payable and accrued expenses | $8,236,501 |
| 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 | $99,430,679 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,440 |
| Total liabilities | $107,678,620 |
| 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 | $376,596 |
| Retained earnings, endowment, accumulated income, or other funds | $60,233,609 |
| Total liabilities and net assets/fund balances | $168,288,825 |