Petit Jean Electric Cooperative Corporation
- Assets
- $119.4m
- Revenue
- $40.7m
- Investments
- $0.0
- Employees
- 73
- Location
- Clinton, AR
- Founding
- 02/1941
- Data as of
- 12/2021
- 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 12/2021, Petit Jean Electric Cooperative Corporation employed 73 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 12/2021, Petit Jean Electric Cooperative Corporation generated $40.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $40.4m during the year ending 12/2021. While expenses have increased by 3.6% 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
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 20,601 ACTIVE SERVICES AT YEAR END.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Kirkland Ceo/general Manager | Officer | 60 | $255,912 |
Michael Garbow Manager Of Engineering | 43 | $121,925 | |
William Tester Branch Manager | 60 | $115,542 | |
Johnny Moore Manager Of Operations | 50 | $112,018 | |
Thomas Henderson Substation/line Tech | 51.3 | $108,048 | |
Jamie Reeves Foreman | 47.8 | $102,267 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asplundh Tree Expert Co Right Of Way Clearing | 12/30/21 | $2,179,787 |
Mdr Construction Construction Contractor | 12/30/21 | $1,530,612 |
Conexon Llc Management, Consulting, Make Ready Engin | 12/30/21 | $1,072,582 |
Arkansas Electric Cooperative Inc Right Of Way Clearing, Construction, & T | 12/30/21 | $722,611 |
Pike Electric Llc Electric Contractor | 12/30/21 | $521,721 |
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 | $38,642,372 |
| Investment income | $468,739 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,802 |
| 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 | $617 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,732,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,838 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,194,902 |
| Compensation of current officers, directors, key employees. | $969,208 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,929,667 |
| Pension plan accruals and contributions | $858,410 |
| Other employee benefits | $768,131 |
| Payroll taxes | $245,078 |
| 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 | $2,054,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,654,032 |
| Insurance | $0 |
| All other expenses | $899,368 |
| Total functional expenses | $40,397,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,131,763 |
| Savings and temporary cash investments | $4,702,708 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,384,368 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,961,079 |
| Prepaid expenses and deferred charges | $540,236 |
| Net Land, buildings, and equipment | $93,571,026 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,188,201 |
| Intangible assets | $220,686 |
| Other assets | $749,049 |
| Total assets | $119,449,116 |
| Accounts payable and accrued expenses | $5,928,724 |
| 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 | $62,649,678 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,526,554 |
| Total liabilities | $75,104,956 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $322,050 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $44,022,110 |
| Total liabilities and net assets/fund balances | $119,449,116 |
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 |