Washington-St Tammany Electric Cooperative Inc 1570
- Assets
- $266.7m
- Revenue
- $97.4m
- Investments
- $0.0
- Employees
- 105
- Location
- Franklinton, LA
- Founding
- 06/1939
- Data as of
- 12/2021
- EIN
- 72-6027617
Organization Overview
Washington-St Tammany Electric Cooperative Inc 1570 is located in Franklinton, LA. The organization was established in 1939. 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, Washington-St Tammany Electric Cooperative Inc 1570 employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington-St Tammany Electric Cooperative Inc 1570 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, Washington-St Tammany Electric Cooperative Inc 1570 generated $97.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $93.9m during the year ending 12/2021. While expenses have increased by 0.0% 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 SAFE RELIABLE AND COST EFFECTIVE ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS IN SOUTHEAST LOUISIANA AND SOUTHERN MISSISSIPPI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC UTILITY SERVICE TO MEMBERS IN SOUTHEAST LOUISIANA AND SOUTHERN MISSISSIPPI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Hill General Manager And CEO | Officer | 50 | $278,978 |
Walter Sylvest Manager Of Finance | Officer | 48 | $147,535 |
Ricky Simpson Line Supervisor | 55 | $133,198 | |
Daniel Wood Journeyman Lineman | 60 | $127,927 | |
Kelton Breland Operations Supervisor | 54 | $126,137 | |
James Williams Journeyman Lineman | 57 | $122,884 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sparks Energy Inc Power Line Construction | 12/30/21 | $4,136,981 |
Chain Electric Company Power Line Constructon | 12/30/21 | $2,208,804 |
C W Wright Power Line Construction | 12/30/21 | $2,401,029 |
Southern Electric Corp Of Ms Power Line Constructon | 12/30/21 | $2,936,855 |
Creel Brothers Inc Right Of Way Clearing | 12/30/21 | $9,218,654 |
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 | $97,184,078 |
| Investment income | $195,995 |
| 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 | $97,380,073 |
| 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. | $685,932 |
| 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 | $4,054,576 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,136,266 |
| Insurance | $0 |
| All other expenses | $301,882 |
| Total functional expenses | $93,942,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,358,093 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,313,676 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,078,166 |
| Prepaid expenses and deferred charges | $2,011,304 |
| Net Land, buildings, and equipment | $182,258,906 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,814,163 |
| Intangible assets | $24,274,077 |
| Other assets | $3,558,905 |
| Total assets | $266,667,290 |
| Accounts payable and accrued expenses | $22,139,578 |
| 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 | $128,418,356 |
| Unsecured mortgages and notes payable | $29,025,000 |
| Other liabilities | $31,892,610 |
| Total liabilities | $211,475,544 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $421,045 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $54,770,701 |
| Total liabilities and net assets/fund balances | $266,667,290 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $3,229,605,813 | $252,635,175 |
Dixie Electric Membership Corporation Baton Rouge, LA | $725,178,434 | $239,155,259 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $657,902,626 | $247,741,918 |