Cherokee County Electric Co-Op Association
- Assets
- $180.0m
- Revenue
- $66.5m
- Investments
- $0.0
- Employees
- 91
- Location
- Rusk, TX
- Founding
- 03/1940
- Data as of
- 12/2023
- EIN
- 75-0184514
Organization Overview
Cherokee County Electric Co-Op Association is located in Rusk, TX. 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, Cherokee County Electric Co-Op Association employed 91 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherokee County Electric Co-Op Association 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, Cherokee County Electric Co-Op Association generated $66.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $66.5m during the year ending 12/2023. While expenses have increased by 5.1% 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 ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC POWER TO APPROXIMATELY 17,839 MEMBERS IN 4 COUNTIES. MEMBERS WERE PROVIDED POWER, ON A COOPERATIVE BASIS, THROUGH APPROXIMATELY 23,408 CONNECTED METERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Jones General Manager | Officer | 42.5 | $208,632 |
Bart Bauer Assistant Manager | 45 | $164,298 | |
Christopher Stroud Crew Foreman | 59 | $138,140 | |
Kenneth Hicks Acct. Manager | Officer | 42.5 | $127,689 |
Andrew Owens Direct Of Broadban | 45.5 | $139,158 | |
Joseph Young Direct Of Engineer | 49.5 | $139,672 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arbor Resources Right Of Way Clearing | 12/30/23 | $2,033,715 |
Fiberrise Communications Llc Fiber Design & Proj Mang | 12/30/23 | $683,180 |
Harris Line Service Co Inc Right Of Way Clearing | 12/30/23 | $749,352 |
Rei Utility Services Engineering Consultants | 12/30/23 | $606,285 |
Timber Wolf Land Clearing Right Of Way Clearing | 12/30/23 | $555,482 |
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 | $65,982,071 |
| Investment income | $26,255 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $280,420 |
| Net Gain/Loss on Asset Sales | $97,752 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,471,440 |
| 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 | $4,424,000 |
| Compensation of current officers, directors, key employees. | $553,772 |
| 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 | $7,578 |
| Office expenses | $623,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $223,283 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $148,509 |
| Interest | $4,012,952 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,072,246 |
| Insurance | $44,395 |
| All other expenses | $3,435,919 |
| Total functional expenses | $66,471,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $913,266 |
| Savings and temporary cash investments | $421,587 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,231,328 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,489,260 |
| Prepaid expenses and deferred charges | $5,142,467 |
| Net Land, buildings, and equipment | $138,974,972 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $21,830,959 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $180,003,839 |
| Accounts payable and accrued expenses | $9,483,494 |
| 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 | $115,183,840 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,290,550 |
| Total liabilities | $125,957,884 |
| 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 | $54,045,955 |
| Total liabilities and net assets/fund balances | $180,003,839 |