Cotton Electric Cooperative Inc
- Assets
- $182.1m
- Revenue
- $83.7m
- Investments
- $40.8m
- Employees
- 94
- Location
- Walters, OK
- Founding
- 02/1940
- Data as of
- 12/2023
- EIN
- 73-0199463
Organization Overview
Cotton Electric Cooperative Inc is located in Walters, OK. The organization was established in 1940. 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, Cotton Electric Cooperative Inc employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cotton 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, Cotton Electric Cooperative Inc generated $83.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $83.8m during the year ending 12/2023. While expenses have increased by 2.1% per year over the past 9 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
TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY TO OUR MEMBERS - 23,622 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer M Meason CEO | Officer | 40 | $264,456 |
Bryce Hooper COO | Officer | 40 | $163,782 |
Michael W Ottinger VP Operation | Officer | 40 | $153,818 |
Clint Ingram Line Op Supe | 40 | $120,998 | |
Zachary Smith Crew Chief | 40 | $131,558 | |
Jeromy Bowers VP Admin & I | Officer | 40 | $123,187 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Titan Powerline Llc Construction | 12/30/23 | $2,604,319 |
Techserv Consulting & Training Pole License | 12/30/23 | $506,244 |
Mccoy Tree Surgery Co Right Of Way | 12/30/23 | $715,703 |
All American Construction Construction | 12/30/23 | $278,642 |
Progressive Solutions | 12/30/23 | $212,715 |
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 | $83,314,905 |
| Investment income | $208,055 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $126,094 |
| Net Gain/Loss on Asset Sales | $40,557 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $24,648 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,727,067 |
| 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 | $7,673,840 |
| Compensation of current officers, directors, key employees. | $1,233,925 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $803,405 |
| 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 | $2,244,157 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,029,165 |
| Insurance | $0 |
| All other expenses | $740,272 |
| Total functional expenses | $83,810,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,414,690 |
| Savings and temporary cash investments | $1,096,955 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,026,189 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,351,008 |
| Prepaid expenses and deferred charges | $85,085 |
| Net Land, buildings, and equipment | $123,260,403 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $40,826,881 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $182,061,211 |
| Accounts payable and accrued expenses | $7,634,988 |
| 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 | $63,009,677 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,376,491 |
| Total liabilities | $81,021,156 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $113,560 |
| Paid-in or capital surplus, or land, building, or equipment fund | $15,699,801 |
| Retained earnings, endowment, accumulated income, or other funds | $85,226,694 |
| Total liabilities and net assets/fund balances | $182,061,211 |