Ashley-Chicot Electric Cooperative Inc
- Assets
- $46.2m
- Revenue
- $12.0m
- Investments
- $0.0
- Employees
- 22
- Location
- Hamburg, AR
- Founding
- 09/1954
- Data as of
- 12/2023
- EIN
- 71-0205220
Organization Overview
Ashley-Chicot Electric Cooperative Inc is located in Hamburg, AR. The organization was established in 1954. 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 12/2023, Ashley-Chicot Electric Cooperative Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ashley-Chicot Electric Cooperative Inc 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 12/2023, Ashley-Chicot Electric Cooperative Inc generated $12.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $12.0m during the year ending 12/2023. While expenses have increased by 2.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SALE OF ELECTRICITY TO RURAL MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 5,103 RURAL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lynn Director | Trustee | 2 | $6,934 |
Richard Stock Director | Trustee | 2 | $1,089 |
Justin Green Director | Trustee | 3 | $4,964 |
Andrew Hartshorn Director | Trustee | 3 | $10,513 |
Mike Huggins Director | Trustee | 2 | $0 |
Emory Austin President | Officer | 8 | $2,036 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Techline Ltd Line Materials | 12/30/23 | $3,318,158 |
Mdr Construction Inc Line Construction | 12/30/23 | $1,820,515 |
Arkansas Electric Coop Inc Line Construction And Materials | 12/30/23 | $1,367,590 |
System Service Broadband Broadband Services | 12/30/23 | $1,291,368 |
Conexon Llc Broadband Services | 12/30/23 | $560,443 |
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 | $11,631,690 |
| Investment income | $109,250 |
| 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 | $11,985,900 |
| 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 | $925,838 |
| Compensation of current officers, directors, key employees. | $167,186 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $207,166 |
| Other employee benefits | $117,779 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,047 |
| Fees for services: Accounting | $26,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,555 |
| Advertising and promotion | $0 |
| Office expenses | $21,029 |
| 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 | $7,912 |
| Interest | $901,123 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,498,242 |
| Insurance | $0 |
| All other expenses | $325,798 |
| Total functional expenses | $11,985,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $403,155 |
| Savings and temporary cash investments | $1,066,728 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,240,361 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $526,057 |
| Prepaid expenses and deferred charges | $41,540 |
| Net Land, buildings, and equipment | $38,232,617 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,358,130 |
| Intangible assets | $0 |
| Other assets | $360,828 |
| Total assets | $46,229,416 |
| Accounts payable and accrued expenses | $954,293 |
| Grants payable | $0 |
| Deferred revenue | $356,857 |
| 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 | $24,136,342 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,436 |
| Total liabilities | $25,481,928 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $40,485 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $20,707,003 |
| Total liabilities and net assets/fund balances | $46,229,416 |