Clay County Electric Coop Corp
- Assets
- $152.9m
- Revenue
- $35.2m
- Investments
- $0.0
- Employees
- 64
- Location
- Corning, AR
- Founding
- 10/1939
- Data as of
- 12/2023
- EIN
- 71-0033825
Organization Overview
Clay County Electric Coop Corp is located in Corning, AR. The organization was established in 1939. 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, Clay County Electric Coop Corp employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clay County Electric Coop Corp 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, Clay County Electric Coop Corp generated $35.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $35.0m during the year ending 12/2023. While expenses have increased by 4.6% 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
CLAY COUNTY ELECTRIC COOPERATIVE CORPORATION IS YOUR MEMBER-OWNED COOPERATIVE THAT PROVIDES SAFE, AFFORDABLE, DEPENDABLE AND CONSUMER-BASED UTILITY SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALES OF 285,499,201 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS MEMBERS/CONSUMERS ON A NON-PROFIT BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Vice-President | OfficerTrustee | 3.2 | $14,799 |
Name Not Listed Board Secretary/treasurer | OfficerTrustee | 6 | $29,185 |
Name Not Listed Board President | OfficerTrustee | 9.2 | $31,377 |
Name Not Listed Director | Trustee | 2.4 | $30,078 |
Name Not Listed Director | Trustee | 7 | $29,100 |
Name Not Listed Director | Trustee | 2.5 | $30,081 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arkansas Electric Cooperative Inc Vegetation Control/electrical Distribution Construction | 12/30/23 | $1,269,304 |
D & H Contracting Inc Fiber Line Construction | 12/30/23 | $1,052,372 |
Osmose Utilities Services Electrical Pole Inspection | 12/30/23 | $340,439 |
Progressive Solutions Vegetation Control | 12/30/23 | $138,749 |
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 | $34,299,438 |
| Investment income | $856,775 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$44,505 |
| Net Gain/Loss on Asset Sales | $10,634 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,184,742 |
| 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 | $3,876,171 |
| Compensation of current officers, directors, key employees. | $574,270 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,238,663 |
| Pension plan accruals and contributions | -$105,296 |
| Other employee benefits | $141,545 |
| Payroll taxes | $383,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,976 |
| Fees for services: Accounting | $68,535 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,824 |
| Advertising and promotion | $51,791 |
| Office expenses | $478,756 |
| 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 | $26,684 |
| Interest | $2,126,223 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,829,223 |
| Insurance | $337,753 |
| All other expenses | $851,789 |
| Total functional expenses | $35,031,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,686,590 |
| Savings and temporary cash investments | $1,081,119 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,143,383 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,578,042 |
| Prepaid expenses and deferred charges | $1,246,181 |
| Net Land, buildings, and equipment | $121,265,845 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,689,460 |
| Intangible assets | $0 |
| Other assets | $163,378 |
| Total assets | $152,853,998 |
| Accounts payable and accrued expenses | $7,534,241 |
| 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 | $59,284,865 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,565,761 |
| Total liabilities | $70,384,867 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $204,645 |
| Paid-in or capital surplus, or land, building, or equipment fund | $781,941 |
| Retained earnings, endowment, accumulated income, or other funds | $81,482,545 |
| Total liabilities and net assets/fund balances | $152,853,998 |