Jefferson Davis Electric Coop Inc
- Assets
- $284.3m
- Revenue
- $31.1m
- Investments
- $0.0
- Employees
- 58
- Location
- Jennings, LA
- Founding
- 07/1945
- Data as of
- 12/2022
- EIN
- 72-0362325
Organization Overview
Jefferson Davis Electric Coop Inc is located in Jennings, LA. The organization was established in 1945. 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, Jefferson Davis Electric Coop Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jefferson Davis Electric Coop 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 12/2022, Jefferson Davis Electric Coop Inc generated $31.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $30.6m during the year ending 12/2022. While expenses have increased by 2.6% per year over the past 4 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
SALES OF ELECTRIC ENERGY TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 10,302 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirk Weldon Director (jan-July) | Trustee | 2 | $24,153 |
John Berken Secretary/treasurer | OfficerTrustee | 2 | $26,902 |
Joseph Tupper Jr President | OfficerTrustee | 2 | $27,002 |
Reggie Murphy Director | Trustee | 2 | $27,102 |
Kevin Sonnier Director | Trustee | 2 | $27,102 |
Herman Precht III Vice President | OfficerTrustee | 2 | $25,735 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rigid Constructors Llc Electrical Contractors | 12/30/22 | $3,601,716 |
Royal Engineering Engineering Consulting | 12/30/22 | $5,726,586 |
Solpowerlines Llc Electrical Contractors | 12/30/22 | $1,803,194 |
Bha Inc Civil Engineering Contractor | 12/30/22 | $1,046,233 |
Ernest P Breaux Electrical Inc Electrical Contractors | 12/30/22 | $1,181,009 |
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 | $30,893,863 |
| Investment income | $30,726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66,628 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,094,212 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,177 |
| 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. | $814,194 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,191,398 |
| Pension plan accruals and contributions | $281,824 |
| Other employee benefits | $836,075 |
| Payroll taxes | $173,153 |
| 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 | $1,633,216 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,683,614 |
| Insurance | $0 |
| All other expenses | -$20,021 |
| Total functional expenses | $30,553,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,349,961 |
| Savings and temporary cash investments | $52,426 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $161,532,672 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,408,085 |
| Prepaid expenses and deferred charges | $375,835 |
| Net Land, buildings, and equipment | $76,110,285 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,135,589 |
| Intangible assets | $0 |
| Other assets | $33,297,679 |
| Total assets | $284,262,532 |
| Accounts payable and accrued expenses | $12,452,206 |
| 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 | $249,282,366 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $407,109 |
| Total liabilities | $262,141,681 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $38,710 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $22,082,141 |
| Total liabilities and net assets/fund balances | $284,262,532 |