Civic Intelligence

Caney Fork Electric Cooperative Inc

990 • Fiscal year 2015 • EIN 62-0148804

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 16, 2015

Organization ProfileN/A

View Organization Page

PO Box 272Mcminnville, TN 37111

(931) 473-3116

Siviq Scores

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

Liabilities / Assets

68th percentile

0.62x

Higher debt load relative to assets than 68% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

36th percentile

1.16x

Higher debt load relative to revenue than 36% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Net Margin

7th percentile

-0.9%

Higher net margin than 7% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Top Officer Pay

5th percentile

$165,838

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Asset Growth

19th percentile

-0.1%

Faster asset growth than 19% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

41st percentile

-1.8%

Faster revenue growth than 41% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$120,775,931

Down $134,684 (-0.1%) from 2014

Net Assets

Down

$46,352,999

Down $1,318,181 (-2.8%) from 2014

Liabilities

Up

$74,422,932

Up $1,183,497 (+1.6%) from 2014

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin7th percentile

Revenue

Down

$64,403,829

Down $1,153,301 (-1.8%) from 2014

Expenses

Up

$64,973,962

Up $1,028,250 (+1.6%) from 2014

Net Income

Down

-$570,133

Down $2,181,551 (-135%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$200M$150M$100M$50M$0Assets 2011: $106,135,765Liabilities 2011: $63,373,319Net Assets 2011: $42,762,4462011Assets 2012: $109,231,958Liabilities 2012: $65,627,220Net Assets 2012: $43,604,7382012Assets 2013: $113,492,868Liabilities 2013: $67,691,117Net Assets 2013: $45,801,7512013Assets 2014: $120,910,615Liabilities 2014: $73,239,435Net Assets 2014: $47,671,1802014Assets 2015: $120,775,931Liabilities 2015: $74,422,932Net Assets 2015: $46,352,9992015Assets 2016: $123,703,759Liabilities 2016: $79,418,223Net Assets 2016: $44,285,5362016Assets 2017: $128,814,250Liabilities 2017: $83,157,769Net Assets 2017: $45,656,4812017Assets 2018: $128,728,047Liabilities 2018: $77,286,609Net Assets 2018: $51,441,4382018Assets 2019: $131,845,775Liabilities 2019: $77,086,244Net Assets 2019: $54,759,5312019Assets 2020: $136,758,342Liabilities 2020: $76,501,685Net Assets 2020: $60,256,6572020Assets 2021: $140,728,513Liabilities 2021: $73,242,895Net Assets 2021: $67,485,6182021Assets 2022: $145,317,750Liabilities 2022: $70,911,445Net Assets 2022: $74,406,3052022Assets 2023: $146,308,723Liabilities 2023: $67,389,734Net Assets 2023: $78,918,9892023Assets 2024: $157,172,585Liabilities 2024: $64,314,430Net Assets 2024: $92,858,1552024Assets 2025: $174,812,650Liabilities 2025: $77,100,918Net Assets 2025: $97,711,7322025

Highlighted filing

2015

Assets$120,775,931
Liabilities$74,422,932
Net Assets$46,352,999
Open 2015 Filing

Operations Trend

Revenue Growth41st percentile

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

$100M$50M$0-$50MExpenses 2011: $63,613,3932011Expenses 2012: $60,291,3602012Expenses 2013: $60,928,4822013Revenue 2014: $65,557,130Expenses 2014: $63,945,712Net Income 2014: $1,611,4182014Revenue 2015: $64,403,829Expenses 2015: $64,973,962Net Income 2015: -$570,1332015Revenue 2016: $61,979,580Expenses 2016: $61,648,489Net Income 2016: $331,0912016Revenue 2017: $65,734,390Expenses 2017: $64,571,663Net Income 2017: $1,162,7272017Revenue 2018: $67,552,282Expenses 2018: $65,691,386Net Income 2018: $1,860,8962018Revenue 2019: $69,157,069Expenses 2019: $65,842,251Net Income 2019: $3,314,8182019Revenue 2020: $67,677,573Expenses 2020: $62,651,802Net Income 2020: $5,025,7712020Revenue 2021: $68,683,408Expenses 2021: $61,347,709Net Income 2021: $7,335,6992021Revenue 2022: $73,547,577Expenses 2022: $67,215,842Net Income 2022: $6,331,7352022Revenue 2023: $77,606,579Expenses 2023: $73,021,422Net Income 2023: $4,585,1572023Revenue 2024: $77,375,635Expenses 2024: $72,594,780Net Income 2024: $4,780,8552024Revenue 2025: $84,991,952Expenses 2025: $80,237,730Net Income 2025: $4,754,2222025

Highlighted filing

2015

Revenue$64,403,829
Expenses$64,973,962
Net Income-$570,133
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$64,403,829
Mission and Program Overview

Mission

To provide electric service in rural areas to the members of the Cooperative.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$86,980,776$89,798,181▲ $2,817,405
Rtn Earn Endowment Incm Other Fnds$47,524,820$46,205,389▼ $1,319,431
Other Notes and Loans Receivable, Net$9,086,857$8,945,890▼ $140,967
Cash and Non-Interest-Bearing Accounts$12,877,090$8,930,076▼ $3,947,014
Accounts Receivable$6,872,482$7,880,645▲ $1,008,163
Savings and Temporary Cash Investments$1,197,990$1,245,070▲ $47,080
Inventories for Sale or Use$838,526$766,925▼ $71,601
Prepaid Expenses and Deferred Charges$351,918$652,771▲ $300,853
Pledges and Grants Receivable-$472,635-
Cap Stk Tr Prin Current Funds$146,360$147,610▲ $1,250
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$120,910,615$120,775,931▼ $134,684
Other Assets Total$2,704,976$2,083,738▼ $621,238
Liabilities
Mortgage Notes Payable Secured by Investment Property$45,896,888$46,362,562▲ $465,674
Other Liabilities$13,276,424$14,157,266▲ $880,842
Accounts Payable and Accrued Expenses$14,066,123$13,903,104▼ $163,019
Total Liabilities$73,239,435$74,422,932▲ $1,183,497
Net Assets / Fund Balance
Total Net Assets Fund Balance$47,671,180$46,352,999▼ $1,318,181
Total Liabilities and Net Assets / Fund Balance$120,910,615$120,775,931▼ $134,684

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,061,953$1,247,725-
Other Land Buildings$1,282,796$974,282-
Land$259,914--
Equipment$87,193,518$24,170,868-
Compensation and Service Providers
Top Officer Pay5th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
William RogersManagerFT$128,921$36,917$165,838
Danny SuttonOperations DirectorFT$95,603$29,863$125,466
Don McbeeControllerFT$96,157$24,163$120,320
Michael BouldinPresident-$16,879-$16,879
Bobby LoveDirector-$14,450-$14,450
Bill S DavisDirector-$12,944-$12,944
Glen H PageDirector-$12,043-$12,043
Albert R DicusDirector-$11,991-$11,991
William R FloydVice President-$11,576-$11,576
J Steve RollerDirector-$8,940-$8,940
Johnny R CrainDirector-$4,900-$4,900
James H HillisDirector-$3,450-$3,450
Jeanette FranceSecretary/Treas-$3,000-$3,000

Highest Paid Contractors

ContractorServicesLocationCompensation
J & L Tree Service LLCTree Service9 WILLIAMS LANE SOUTH, Alexandria, TN 37012$1,045,737
T & M Distribution Power LLCConstruction247 MASON LANE, Woodbury, TN 37190$422,999
Mckenzie Tree Service INCTree ServicePO BOX 425, Parsons, TN 38363$388,121
G&g Tree Service LLCTree ServicePO BOX 214, Liberty, TN 37095$226,654
Chempro Services INCVegetation Service2953 BIENVILLE BLVD, Ocean Springs, MS 39564$129,931
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$63,896,529
Investment Income
$513,821
Other Revenue
$-6,521
Change in Net Assets
$-570,133

Audited Revenue Reconciliation

Revenue per Audited Statements
$64,403,829
Total Revenue per Audited Statements
$64,403,829
Total Revenue per Form 990
$64,403,829
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$64,553,108
Salaries, Compensation, and Employee Benefits$420,854
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$3,511,174--$3,511,174
Interest$1,960,388--$1,960,388
Current Officers, Directors, Trustees, and Key Employees$420,854--$420,854
Other Expenses$46,592--$46,592
Total Functional Expenses$64,973,962$0$0$64,973,962

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$64,973,962
Total Expenses per Audited Statements$64,973,962
Total Expenses per Form 990$64,973,962
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
Lobbying 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
Postretirement benefits$12,548,395
Customer deposits$1,476,557
Other current liabilities$132,314
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Members of the cooperative are individuals and businesses that are located within its service area and have electric service with the cooperative.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Directors serve three year terms. Members elect directors with expiring terms on an annual basis at an annual meeting.”

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

“The governing body reviews and approves the form 990 before filing.”

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

“The board members are requested yearly to complete a conflict of interest and disclosure form.”

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

“The board of directors review the performance of management employees on an annual basis and determine the compensation for these employees for the coming year.”

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

“Financial information is distributed annually to members through an industry publicaton. All documents, policies, and financial information required to be made public by i.r.c. 6104 are available upon request.”

Filing and Contact Details

Filer

Filer Name
Caney Fork Electric Cooperative Inc
EIN
62-0148804
Phone
9314733116
Address
PO BOX 272, MCMINNVILLE, TN 37111

Signing Officer

Name
William Rogers
Title
Manager
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Formed
1940
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
0
Employees
87

Preparer

Firm
Totherow Haile & Welch CPAs PLLC
Address
2355 South Chancery St, McMinnville, TN 37110
Preparer
Gentry Underhill Jr CPA
Phone
9316681272
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Comprehensive income associated with postretirement benefits = $19904”

Other Changes In Net Assets Or Fund Balances - Other Increases

“memberships received = $10911”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Memberships refunded = -$9661”

Raw XML AppendixShowing 400 of 502 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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IRS990/Form990PartVIISectionAGrp/PersonNm9JOHNNY R CRAIN
IRS990/Form990PartVIISectionAGrp/PersonNm10WILLIAM ROGERS
IRS990/Form990PartVIISectionAGrp/PersonNm11DON MCBEE
IRS990/Form990PartVIISectionAGrp/PersonNm12DANNY SUTTON
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$120,775,931
Liabilities
$74,422,932
Net assets
$46,352,999
Revenue
$64,403,829
Expenses
$64,973,962
Net income
-$570,133
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$175$77.1$97.7$85.0$80.2$4.75
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$157$64.3$92.9$77.4$72.6$4.78
2023Detailed filing. Detailed filing data is available for this year.$146$67.4$78.9$77.6$73.0$4.59
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$145$70.9$74.4$73.5$67.2$6.33
2021Detailed filing. Detailed filing data is available for this year.$141$73.2$67.5$68.7$61.3$7.34
2020Detailed filing. Detailed filing data is available for this year.$137$76.5$60.3$67.7$62.7$5.03
2019Detailed filing. Detailed filing data is available for this year.$132$77.1$54.8$69.2$65.8$3.31
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$129$77.3$51.4$67.6$65.7$1.86
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$129$83.2$45.7$65.7$64.6$1.16
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$124$79.4$44.3$62.0$61.6$0.33
2015Detailed filing. Detailed filing data is available for this year.$121$74.4$46.4$64.4$65.0$0.57
2014Detailed filing. Detailed filing data is available for this year.$121$73.2$47.7$65.6$63.9$1.61
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$113$67.7$45.8$60.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$65.6$43.6$60.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$63.4$42.8$63.6