Craighead Electric Cooperative Corporation
- Assets
- $321.1m
- Revenue
- $80.3m
- Investments
- $0.0
- Employees
- 123
- Location
- Jonesboro, AR
- Founding
- 02/1938
- Data as of
- 12/2022
- EIN
- 71-0039695
Organization Overview
Craighead Electric Cooperative Corporation is located in Jonesboro, AR. The organization was established in 1938. 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 12/2022, Craighead Electric Cooperative Corporation employed 123 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Craighead 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 12/2022, Craighead Electric Cooperative Corporation generated $80.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $80.3m during the year ending 12/2022. While expenses have increased by 4.6% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ELECTRIC POWER TO RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC POWER TO MEMBERS. 37,922 SERVICES IN PLACE AT END OF YEAR.
SALE OF BROADBAND SERVICES TO MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremiah Sloan CEO | Officer | 50 | $260,917 |
Keith Blocker VP Engineeri | 50 | $200,513 | |
Brian Duncan CEO | 50 | $232,819 | |
Mark A Miller VP Of Operat | 50 | $157,944 | |
Justin Etter VP Of Corp. | 50 | $142,909 | |
Keith Mosbey Director | Trustee | 6 | $22,974 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
D & H Contracting Inc Contracting | 12/30/22 | $1,181,538 |
Southern Electric Corporation Line Building | 12/30/22 | $1,058,788 |
West Tree Service Inc Row Clearing | 12/30/22 | $755,097 |
Progressive Solutions Llc Row Spraying | 12/30/22 | $264,564 |
Alliance Utilities Inc Trenching | 12/30/22 | $221,277 |
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 | $77,312,108 |
| Investment income | $2,927,908 |
| 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 | $80,274,486 |
| 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 | $3,254,091 |
| Compensation of current officers, directors, key employees. | $485,435 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $260,635 |
| Other salaries and wages | $8,585,904 |
| 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 | $57,507,055 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,180,881 |
| Insurance | $0 |
| All other expenses | $485 |
| Total functional expenses | $80,274,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,346,953 |
| Savings and temporary cash investments | $7,447,017 |
| Pledges and grants receivable | $35,078 |
| Accounts receivable, net | $6,606,821 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,526,763 |
| Prepaid expenses and deferred charges | $1,758,233 |
| Net Land, buildings, and equipment | $245,739,276 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $23,254,054 |
| Intangible assets | $0 |
| Other assets | $21,402,996 |
| Total assets | $321,117,191 |
| Accounts payable and accrued expenses | $6,085,763 |
| Grants payable | $1,850,982 |
| Deferred revenue | $10,188,106 |
| 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 | $179,803,298 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $197,928,149 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $97,564 |
| Paid-in or capital surplus, or land, building, or equipment fund | $54,262,629 |
| Retained earnings, endowment, accumulated income, or other funds | $68,828,849 |
| Total liabilities and net assets/fund balances | $321,117,191 |