Claiborne Electric Cooperative Inc
- Assets
- $126.4m
- Revenue
- $58.4m
- Investments
- $0.0
- Employees
- 71
- Location
- Homer, LA
- Founding
- 02/1943
- Data as of
- 12/2021
- EIN
- 72-0154371
Organization Overview
Claiborne Electric Cooperative Inc is located in Homer, LA. The organization was established in 1943. 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, Claiborne Electric Cooperative Inc employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Claiborne 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 12/2021, Claiborne Electric Cooperative Inc generated $58.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $58.6m during the year ending 12/2021. While expenses have increased by 1.4% 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
THE WHOLESALE PURCHASE, DISTRIBUTION, AND RETAIL SALE OF ELECTRICITY TO APPROXIMATELY 18,724 RURAL MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICAL POWER TO APPROXIMATELY 18,724 RURAL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Brown Gm & CEO | Officer | 65 | $229,892 |
Jeremy Skipper COO | 50 | $141,850 | |
Kathy Tanner CFO | Officer | 50 | $121,485 |
Rocky Lachney Area Serviceman | 50 | $118,374 | |
Joshua G Dupree Area Serviceman | 50 | $116,638 | |
Stephen Faulk Op. & Maint. Manag | 50 | $115,864 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ramco Llc Tree-trim Contractor | 12/30/21 | $2,050,021 |
Osmose Utilities Services Inc Pole Inspection | 12/30/21 | $378,665 |
Sparks Energy Inc Electric Contractor | 12/30/21 | $1,246,112 |
Echo Powerline Llc Electric Contractor | 12/30/21 | $1,833,383 |
Shelton Energy Solutions Llc Electric Contractor | 12/30/21 | $443,677 |
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 | $57,719,040 |
| Investment income | $524,823 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $172,610 |
| 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 | $58,416,473 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $551,209 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $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 | $3,215,722 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,976,343 |
| Insurance | $0 |
| All other expenses | $1,421,789 |
| Total functional expenses | $58,633,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $917,489 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,783,106 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,460,960 |
| Prepaid expenses and deferred charges | $347,572 |
| Net Land, buildings, and equipment | $108,956,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,980,039 |
| Total assets | $126,445,494 |
| Accounts payable and accrued expenses | $4,390,179 |
| 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 | $92,889,412 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,261,009 |
| Total liabilities | $100,540,600 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $25,904,894 |
| Total liabilities and net assets/fund balances | $126,445,494 |
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 |
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 |
Karnes Electric Cooperative Inc Karnes City, TX | $202,970,400 | $101,891,775 |
Deep East Texas Electric Co-Operative Inc San Augustine, TX | $258,283,792 | $99,942,050 |
Dixie Electric Power Assn Laurel, MS | $277,061,319 | $96,509,999 |
Upshur-Rural Electric Cooperative Corporation Gilmer, TX | $245,628,727 | $98,243,041 |
Central Electric Power Association Carthage, MS | $142,416,370 | $101,127,410 |
San Bernard Electric Cooperative Incorporated Bellville, TX | $290,497,219 | $97,543,303 |
Washington-St Tammany Electric Cooperative Inc 1570 Franklinton, LA | $266,667,290 | $97,380,073 |