Petit Jean Electric Cooperative Corporation
- Assets
- $166.4m
- Revenue
- $46.7m
- Investments
- $0.0
- Employees
- 80
- Location
- Clinton, AR
- Founding
- 02/1941
- Data as of
- 12/2022
- EIN
- 71-0139955
Organization Overview
Petit Jean Electric Cooperative Corporation is located in Clinton, AR. The organization was established in 1941. 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, Petit Jean Electric Cooperative Corporation employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petit Jean 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, Petit Jean Electric Cooperative Corporation generated $46.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $46.0m during the year ending 12/2022. While expenses have increased by 5.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 20,778 ACTIVE SERVICES AT YEAR END.
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 |
|---|---|---|---|
Richard Collins Jr Director | Trustee | 9 | $38,305 |
Frederick Herman Secretary/treasurer | OfficerTrustee | 4.5 | $34,233 |
Darrell Allen Director | Trustee | 6.5 | $30,514 |
Terry Kirkendoll Director | Trustee | 5.2 | $28,851 |
William Derickson Director | Trustee | 1.9 | $28,618 |
Donnie Collins President | OfficerTrustee | 3.3 | $28,283 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mdr Construction Make Ready Construction Fiber | 12/30/22 | $10,981,940 |
Ervin Cable Construction Fiber | 12/30/22 | $5,447,830 |
Conexon Llc Fiber Project Management | 12/30/22 | $3,793,630 |
Arkansas Electric Cooperative Inc Construction/row | 12/30/22 | $2,675,154 |
Techline Inc Construction Fiber | 12/30/22 | $2,218,232 |
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 | $42,689,747 |
| Investment income | $402,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $15,948 |
| 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 | $1,878 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,747,332 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,803 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,601,291 |
| Compensation of current officers, directors, key employees. | $1,117,590 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,099,554 |
| Pension plan accruals and contributions | $885,893 |
| Other employee benefits | $854,166 |
| Payroll taxes | $260,034 |
| 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 | $0 |
| 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 | $2,741,197 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,655,917 |
| Insurance | $0 |
| All other expenses | $731,937 |
| Total functional expenses | $45,997,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,789,722 |
| Savings and temporary cash investments | $109,400 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,110,721 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,618,915 |
| Prepaid expenses and deferred charges | $192,572 |
| Net Land, buildings, and equipment | $141,687,396 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,036,525 |
| Intangible assets | $222,399 |
| Other assets | $1,674,684 |
| Total assets | $166,442,334 |
| Accounts payable and accrued expenses | $12,558,136 |
| 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 | $100,623,942 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,800,590 |
| Total liabilities | $118,982,668 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $325,180 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $47,134,486 |
| Total liabilities and net assets/fund balances | $166,442,334 |