Concordia Electric Cooperative Inc
- Assets
- $36.7m
- Revenue
- $22.6m
- Investments
- $498.0k
- Employees
- 75
- Location
- Jonesville, LA
- Founding
- 04/1943
- Data as of
- 12/2021
- EIN
- 72-0158715
Organization Overview
Concordia Electric Cooperative Inc is located in Jonesville, 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, Concordia Electric Cooperative Inc employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Concordia 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, Concordia Electric Cooperative Inc generated $22.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $23.1m during the year ending 12/2021. While expenses have increased by 0.6% 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
SALE OF ELECTRICITY TO CONSUMERS IN RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY TO 13,787 CONSUMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanley Dewayne Bailey General Manager & CEO | Officer | 40 | $106,477 |
Bobby Creel Director | Trustee | 0.25 | $24,571 |
Don Hamilton Vice President | Trustee | 0.25 | $14,245 |
David Wade President | Trustee | 0.25 | $10,146 |
Brenda Higdon Secretary | Trustee | 0.25 | $6,850 |
William Cockerham Treasurer | Trustee | 0.25 | $6,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $925,386 |
| 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 | $925,386 |
| Total Program Service Revenue | $21,641,249 |
| Investment income | $50,239 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$688 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,617,989 |
| 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. | $0 |
| 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 | -$26,641 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $103,008 |
| Fees for services: Accounting | $32,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $173,750 |
| Advertising and promotion | $0 |
| Office expenses | $64,125 |
| 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 | $590,778 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,733,817 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $23,069,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $875,846 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,048,038 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $270,118 |
| Prepaid expenses and deferred charges | $574,959 |
| Net Land, buildings, and equipment | $29,947,403 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $498,000 |
| Investments—program-related | $1,520,598 |
| Intangible assets | $0 |
| Other assets | $12,025 |
| Total assets | $36,746,987 |
| Accounts payable and accrued expenses | $1,554,632 |
| 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 | $15,506,276 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,911,811 |
| Total liabilities | $20,972,719 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $44,010 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $15,730,258 |
| Total liabilities and net assets/fund balances | $36,746,987 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Navarro County Electric Cooperative Inc Corsicana, TX | $102,970,554 | $49,278,830 |
C & L Electric Cooperative Corporation Star City, AR | $139,600,891 | $49,154,793 |
Houston County Electric Cooperative Inc Crockett, TX | $158,669,671 | $45,143,222 |
North Plains Electric Cooperative Incorporated Perryton, TX | $109,565,276 | $41,899,328 |
Concho Valley Electric Cooperative Inc San Angelo, TX | $125,005,347 | $44,400,615 |
Navasota Valley Electric Cooperative Inc Franklin, TX | $102,144,082 | $44,111,524 |
Cooke County Electric Cooperative Association Muenster, TX | $91,559,642 | $43,344,905 |
Fayette Electric Cooperative Inc La Grange, TX | $93,811,267 | $41,712,810 |
Petit Jean Electric Cooperative Corporation Clinton, AR | $119,449,116 | $40,732,999 |
Clay County Electric Coop Corp Corning, AR | $144,833,979 | $30,381,421 |
Bailey County Electric Cooperative Association Muleshoe, TX | $97,646,615 | $39,668,293 |
Lamb County Electric Cooperative Inc Littlefield, TX | $85,233,436 | $36,372,010 |