Clay County Electric Coop Corp
- Assets
- $144.8m
- Revenue
- $30.4m
- Investments
- $0.0
- Employees
- 73
- Location
- Corning, AR
- Founding
- 10/1939
- Data as of
- 12/2021
- 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 12/2021, Clay County Electric Coop Corp employed 73 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 12/2021, Clay County Electric Coop Corp generated $30.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $39.2m during the year ending 12/2021. While expenses have increased by 7.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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 289,667,462 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 |
|---|---|---|---|
David Smith General Manager | Officer | 40 | $242,114 |
Odis Williams Manager Of Operations | 40 | $120,286 | |
Teddy Briney Line Foreman | 50 | $119,765 | |
Tony Miller Serviceman/foreman | 46.77 | $108,927 | |
Eric Landreth Serviceman/foreman | 46.88 | $107,810 | |
David Markum Serviceman/line Foreman | 47.08 | $105,894 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Osmose Utilities Services Inc Utility Pole Inspect | 12/30/21 | $262,298 |
D H Contracting Inc Fiber Contractors | 12/30/21 | $3,522,586 |
Progressive Solutions Vegetation Control | 12/30/21 | $144,861 |
Gray's Power Supply Llc Electrc Distribution | 12/30/21 | $159,614 |
Garnet Electric Company Electrcal Substation | 12/30/21 | $486,353 |
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 | $37,054,060 |
| Investment income | $1,222,208 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$7,968,892 |
| Net Gain/Loss on Asset Sales | $11,645 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,381,421 |
| 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 | $6,743,846 |
| Compensation of current officers, directors, key employees. | $550,591 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $774,894 |
| Pension plan accruals and contributions | $90,828 |
| Other employee benefits | $154,733 |
| Payroll taxes | $360,538 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,841 |
| Fees for services: Accounting | $64,414 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,990 |
| Advertising and promotion | $48,119 |
| Office expenses | $454,041 |
| 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 | $24,677 |
| Interest | $2,114,847 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,391,037 |
| Insurance | $303,004 |
| All other expenses | $180,715 |
| Total functional expenses | $39,211,288 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,677,964 |
| Savings and temporary cash investments | $2,730,847 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,030,697 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,669,370 |
| Prepaid expenses and deferred charges | $1,776,190 |
| Net Land, buildings, and equipment | $109,305,812 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $14,447,076 |
| Intangible assets | $0 |
| Other assets | $196,023 |
| Total assets | $144,833,979 |
| Accounts payable and accrued expenses | $7,364,431 |
| 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 | $54,091,388 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,890,087 |
| Total liabilities | $73,345,906 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $202,295 |
| Paid-in or capital surplus, or land, building, or equipment fund | $777,866 |
| Retained earnings, endowment, accumulated income, or other funds | $70,507,912 |
| Total liabilities and net assets/fund balances | $144,833,979 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
4-County Electric Power Association Columbus, MS | $315,642,901 | $133,649,967 |
Beauregard Electric Cooperative Inc Deridder, LA | $317,710,520 | $130,661,746 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Northcentral Electric Cooperative Olive Branch, MS | $185,941,805 | $125,968,963 |
Tombigbee Electric Power Assn Tupelo, MS | $221,161,642 | $118,553,499 |
Mid-South Electric Cooperative Association Navasota, TX | $452,923,341 | $112,304,236 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Karnes Electric Cooperative Inc Karnes City, TX | $202,970,400 | $101,891,775 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |