Craighead Electric Cooperative Corporation
- Assets
- $310.9m
- Revenue
- $82.5m
- Investments
- $183.0k
- Employees
- 125
- Location
- Jonesboro, AR
- Founding
- 02/1938
- Data as of
- 12/2021
- 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 12/2021, Craighead Electric Cooperative Corporation employed 125 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 12/2021, Craighead Electric Cooperative Corporation generated $82.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $84.6m during the year ending 12/2021. While expenses have increased by 6.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Duncan CEO | 50 | $1,313,187 | |
Jeremiah Sloan CEO | Officer | 50 | $236,539 |
Nancy Diane Fletcher Human Resour | 50 | $215,930 | |
Keith Blocker VP Engineeri | 50 | $187,047 | |
Carla S Moore VP Of Financ | 50 | $160,376 | |
Dwight England Director | Trustee | 5.9 | $22,441 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
D & H Contracting Inc Contracting | 12/30/21 | $8,677,639 |
Southern Electric Corporation Line Building | 12/30/21 | $1,363,546 |
West Tree Service Inc Row Clearing | 12/30/21 | $1,046,063 |
Critical Edge Inc Fiber Drop Inst | 12/30/21 | $832,559 |
Alliance Utilities Inc Trenching | 12/30/21 | $250,066 |
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 | $79,277,163 |
| Investment income | $3,175,890 |
| 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 | $82,491,659 |
| 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 | $308,535 |
| Compensation of current officers, directors, key employees. | $371,101 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,324,750 |
| Other salaries and wages | $10,453,579 |
| 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 | $60,945,506 |
| 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 | $1,081,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,097,582 |
| Insurance | $0 |
| All other expenses | $22,676 |
| Total functional expenses | $84,604,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,093,236 |
| Savings and temporary cash investments | $986,780 |
| Pledges and grants receivable | $731,383 |
| Accounts receivable, net | $6,816,722 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,869,750 |
| Prepaid expenses and deferred charges | $3,964,830 |
| Net Land, buildings, and equipment | $257,611,808 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $183,000 |
| Investments—program-related | $23,599,166 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $310,856,675 |
| Accounts payable and accrued expenses | $11,361,363 |
| Grants payable | $2,131,464 |
| Deferred revenue | $12,372,362 |
| 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 | $168,495,482 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $194,360,671 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $117,899 |
| Paid-in or capital surplus, or land, building, or equipment fund | $24,571,478 |
| Retained earnings, endowment, accumulated income, or other funds | $91,806,627 |
| Total liabilities and net assets/fund balances | $310,856,675 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
Cumberland Electric Membership Corp Clarksville, TN | $559,882,187 | $327,722,843 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Volunteer Energy Cooperative Decatur, TN | $369,462,846 | $270,037,507 |