Civic Intelligence

Gulf Coast Electric Cooperative

990 • Fiscal year 2019 • EIN 59-0543772

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 06, 2020

Organization ProfileWWW.GCEC.COM

View Organization Page

PO Box 220Wewahitchka, FL 32465

(850) 639-2216

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

95th percentile

0.80x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

97th percentile

3.98x

Higher debt load relative to revenue than 97% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Net Margin

92nd percentile

4.4%

Higher net margin than 92% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

6th percentile

$290,972

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Asset Growth

5th percentile

-2.5%

Faster asset growth than 5% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

92nd percentile

4.7%

Faster revenue growth than 92% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

Flat

$254,687,927

Flat from 2019

Net Assets

Flat

$52,038,979

Flat from 2019

Liabilities

Flat

$202,648,948

Flat from 2019

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin92nd percentile

Revenue

Flat

$50,893,126

Flat from 2019

Expenses

Flat

$48,656,522

Flat from 2019

Net Income

Flat

$2,236,604

Flat from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $99,422,001Liabilities 2010: $72,039,263Net Assets 2010: $27,382,7382010Assets 2011: $140,152,140Liabilities 2011: $109,015,237Net Assets 2011: $31,136,9032011Assets 2012: $151,304,966Liabilities 2012: $116,355,142Net Assets 2012: $34,949,8242012Assets 2013: $152,531,901Liabilities 2013: $115,191,180Net Assets 2013: $37,340,7212013Assets 2014: $153,580,985Liabilities 2014: $114,028,448Net Assets 2014: $39,552,5372014Assets 2015: $160,614,950Liabilities 2015: $117,952,285Net Assets 2015: $42,662,6652015Assets 2016: $160,498,308Liabilities 2016: $114,968,120Net Assets 2016: $45,530,1882016Assets 2017: $165,691,196Liabilities 2017: $118,026,265Net Assets 2017: $47,664,9312017Assets 2018: $261,191,257Liabilities 2018: $211,030,883Net Assets 2018: $50,160,3742018Assets 2019: $254,687,927Liabilities 2019: $202,648,948Net Assets 2019: $52,038,9792019Assets 2019: $254,687,927Liabilities 2019: $202,648,948Net Assets 2019: $52,038,9792019Assets 2020: $263,318,355Liabilities 2020: $203,430,133Net Assets 2020: $59,888,2222020Assets 2021: $224,365,619Liabilities 2021: $154,750,710Net Assets 2021: $69,614,9092021Assets 2022: $234,149,331Liabilities 2022: $161,031,125Net Assets 2022: $73,118,2062022Assets 2023: $244,338,633Liabilities 2023: $166,698,446Net Assets 2023: $77,640,1872023Assets 2024: $269,147,728Liabilities 2024: $179,414,799Net Assets 2024: $89,732,9292024

Highlighted filing

2019

Assets$254,687,927
Liabilities$202,648,948
Net Assets$52,038,979
Open 2019 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0Expenses 2010: $43,735,4732010Revenue 2011: $47,295,363Expenses 2011: $43,225,957Net Income 2011: $4,069,4062011Revenue 2012: $47,234,853Expenses 2012: $43,189,519Net Income 2012: $4,045,3342012Revenue 2013: $46,790,939Expenses 2013: $44,120,446Net Income 2013: $2,670,4932013Revenue 2014: $48,656,556Expenses 2014: $46,009,507Net Income 2014: $2,647,0492014Revenue 2015: $48,174,167Expenses 2015: $44,705,793Net Income 2015: $3,468,3742015Revenue 2016: $47,364,682Expenses 2016: $44,322,432Net Income 2016: $3,042,2502016Revenue 2017: $48,016,969Expenses 2017: $45,965,531Net Income 2017: $2,051,4382017Revenue 2018: $48,596,277Expenses 2018: $45,836,641Net Income 2018: $2,759,6362018Revenue 2019: $50,893,126Expenses 2019: $48,656,522Net Income 2019: $2,236,6042019Revenue 2019: $50,893,126Expenses 2019: $48,656,522Net Income 2019: $2,236,6042019Revenue 2020: $55,070,890Expenses 2020: $47,176,519Net Income 2020: $7,894,3712020Revenue 2021: $58,878,465Expenses 2021: $49,114,306Net Income 2021: $9,764,1592021Revenue 2022: $58,628,084Expenses 2022: $55,115,909Net Income 2022: $3,512,1752022Revenue 2023: $64,847,113Expenses 2023: $60,240,049Net Income 2023: $4,607,0642023Revenue 2024: $76,127,715Expenses 2024: $64,119,018Net Income 2024: $12,008,6972024

Highlighted filing

2019

Revenue$50,893,126
Expenses$48,656,522
Net Income$2,236,604
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 6, 2020
Return Version
2019v5.0
Gross Receipts
$50,893,126
Mission and Program Overview

Mission

Providing electric services to members.

Providing electric sales to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$197,709,229$207,680,645▲ $9,971,416
Rtn Earn Endowment Incm Other Fnds$42,360,089$43,407,584▲ $1,047,495
Investments Program Related$24,495,120$25,474,918▲ $979,798
Pd in Cap Srpls Land Bldg Eqp Fund$7,716,930$8,547,095▲ $830,165
Cash and Non-Interest-Bearing Accounts$22,723,138$7,764,197▼ $14,958,941
Accounts Receivable$6,147,461$5,366,680▼ $780,781
Inventories for Sale or Use$5,233,012$3,451,992▼ $1,781,020
Savings and Temporary Cash Investments$1,865,051$2,063,183▲ $198,132
Prepaid Expenses and Deferred Charges$1,007,108$956,866▼ $50,242
Cap Stk Tr Prin Current Funds$83,355$84,300▲ $945
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$261,191,257$254,687,927▼ $6,503,330
Other Assets Total$2,011,138$1,929,446▼ $81,692
Liabilities
Mortgage Notes Payable Secured by Investment Property$136,390,756$150,979,959▲ $14,589,203
Other Liabilities$12,000,839$46,944,510▲ $34,943,671
Accounts Payable and Accrued Expenses$62,639,288$4,724,479▼ $57,914,809
Total Liabilities$211,030,883$202,648,948▼ $8,381,935
Net Assets / Fund Balance
Total Net Assets Fund Balance$50,160,374$52,038,979▲ $1,878,605
Total Liabilities and Net Assets / Fund Balance$261,191,257$254,687,927▼ $6,503,330

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,174,082--
Other Land Buildings$190,113,825$46,493,241-
Land$756,034--
Equipment$12,636,704--
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleFull / Part TimeBaseTotal
John BartleyCEO-gmFT$290,972$290,972
Leonard F HinsonCOOFT$255,383$255,383
Charles GleatonBoard MemberFT$129,943$129,943
Perry FlowersSecretaryFT$111,810$111,810
Justin BarnesSecretaryFT$111,255$111,255
Howard BrackinPresidentFT$104,048$104,048
Donald C GoodsonTreasurer-$18,100$18,100
Rupert BrownVice President-$17,750$17,750
Eddie JonesBoard Member-$16,650$16,650
Douglas BirminghamBoard Member-$14,900$14,900
Betty J MooreBoard Member-$14,600$14,600
Jimmy Black Jr--$14,250$14,250
Gary Edward Cox--$13,550$13,550
Robert L Byrd--$13,550$13,550
Kinneth Daniels--$13,200$13,200

Highest Paid Contractors

ContractorServicesLocationCompensation
Storm Services LLCEmergency Housing3949 HIGHWAY 93 SOUTH, Thomasville, GA 31792$15,054,319
Mid-Con Energy Service IncElectrical Line Work6478 E Hartford Avenue, Ponca City, OK 74604$6,054,200
Hulls Environmental Services INCEnvironmental Cleanup1810 INDUSTRIAL DRIVE, Panama City, FL 32405$4,673,738
One Source RestorationElectrical LinesP O BOX 1044, Oakland, FL 34760$4,622,685
Power Grid ServicesElectric Power Lines2350 HWY 31 NW, Hartselle, AL 35640$4,441,297
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$49,317,244
Investment Income
$0
Other Revenue
$1,575,882
Change in Net Assets
$2,236,604
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,516,561
Salaries, Compensation, and Employee Benefits$1,139,961
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$6,270,968--$6,270,968
Depreciation Depletion$4,762,180--$4,762,180
All Other Expenses$1,928,524--$1,928,524
Other Expenses$1,785,027--$1,785,027
Current Officers, Directors, Trustees, and Key Employees$1,139,961--$1,139,961
Total Functional Expenses$48,656,522$0$0$48,656,522
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Hurr Mich Fema$31,597,523
Deferred Credits$12,416,891
Cust Deposits$1,783,736
Post-retirement Benefit Liability$890,418
Ins Hur Mich$255,942
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The completed form 990 is reviewed for accuracy by he chief executive officer, then presented to the board of trustees for approval before being executed and filed each year.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Each member of the board of trustee completes a statement annually affirming that there have been no instances over the previous year making them out of compliance with the guidelines detailed in the cooperative conflict of interest policy.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Each year the chief executive officer performance is evaluated by the board of trustees, an independent body, using comparability pay data from other cooperatives. The chief executive officer evaluates the performance of the department managers and also uses comparability pay data from other cooperatives. The board of trustees approves the payroll increases to the department managers and employees.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Each year in the month of april the financial statements for the previous year are printed in the members' magazine prior to the member's annual meeting. Copies of the form 990, other governing documents and policies are maintained in each cooperative office and are available for public review, upon request.”

Filing and Contact Details

Filer

Filer Name
Gulf Coast Electric Cooperative
EIN
59-0543772
Phone
8506392216
Address
PO BOX 220, WEWAHITCHKA, FL 32465

Signing Officer

Name
John Bartley
Title
President
Signed
2020-08-06
Discuss with paid preparer
Yes

Organization Details

Formed
1941
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
83

Preparer

Firm
He Allen CPA
Address
131 THOMAS DR, AMERICUS, GA 31709
Preparer
Herbert E Allen
Phone
2299284008
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Consolidated entries = -$357999”

Raw XML AppendixShowing 400 of 486 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$254,687,927
Liabilities
$202,648,948
Net assets
$52,038,979
Revenue
$50,893,126
Expenses
$48,656,522
Net income
$2,236,604
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$269$179$89.7$76.1$64.1$12.0
2023Summary only. Only limited summary data is available for this year.$244$167$77.6$64.8$60.2$4.61
2022Summary only. Only limited summary data is available for this year.$234$161$73.1$58.6$55.1$3.51
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$224$155$69.6$58.9$49.1$9.76
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$263$203$59.9$55.1$47.2$7.89
2019Detailed filing. Detailed filing data is available for this year.$255$203$52.0$50.9$48.7$2.24
2019Summary only. Only limited summary data is available for this year.$255$203$52.0$50.9$48.7$2.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$261$211$50.2$48.6$45.8$2.76
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$166$118$47.7$48.0$46.0$2.05
2016Summary only. Only limited summary data is available for this year.$160$115$45.5$47.4$44.3$3.04
2015Detailed filing. Detailed filing data is available for this year.$161$118$42.7$48.2$44.7$3.47
2014Detailed filing. Detailed filing data is available for this year.$154$114$39.6$48.7$46.0$2.65
2013Detailed filing. Detailed filing data is available for this year.$153$115$37.3$46.8$44.1$2.67
2012Summary only. Only limited summary data is available for this year.$151$116$34.9$47.2$43.2$4.05
2011Summary only. Only limited summary data is available for this year.$140$109$31.1$47.3$43.2$4.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$99.4$72.0$27.4$43.7