Civic Intelligence

Caney Fork Electric Cooperative Inc

990 • Fiscal year 2019 • EIN 62-0148804

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 15, 2019

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

63rd percentile

0.58x

Higher debt load relative to assets than 63% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

32nd percentile

1.11x

Higher debt load relative to revenue than 32% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Net Margin

82nd percentile

4.8%

Higher net margin than 82% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

4th percentile

$171,763

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Asset Growth

39th percentile

2.4%

Faster asset growth than 39% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

70th percentile

2.4%

Faster revenue growth than 70% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$131,845,775

Up $3,117,728 (+2.4%) from 2018

Net Assets

Up

$54,759,531

Up $3,318,093 (+6.5%) from 2018

Liabilities

Down

$77,086,244

Down $200,365 (-0.3%) from 2018

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin82nd percentile

Revenue

Up

$69,157,069

Up $1,604,787 (+2.4%) from 2018

Expenses

Up

$65,842,251

Up $150,865 (+0.2%) from 2018

Net Income

Up

$3,314,818

Up $1,453,922 (+78%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth39th 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

2019

Assets$131,845,775
Liabilities$77,086,244
Net Assets$54,759,531
Open 2019 Filing

Operations Trend

Revenue Growth70th 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

2019

Revenue$69,157,069
Expenses$65,842,251
Net Income$3,314,818
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$69,157,069
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$97,848,263$103,189,171▲ $5,340,908
Rtn Earn Endowment Incm Other Fnds$51,285,753$54,600,571▲ $3,314,818
Cash and Non-Interest-Bearing Accounts$13,433,057$12,162,785▼ $1,270,272
Accounts Receivable$7,699,710$7,752,193▲ $52,483
Other Notes and Loans Receivable, Net$5,600,276$4,631,195▼ $969,081
Savings and Temporary Cash Investments$1,452,903$1,536,144▲ $83,241
Prepaid Expenses and Deferred Charges$733,141$881,458▲ $148,317
Inventories for Sale or Use$808,335$851,568▲ $43,233
Cap Stk Tr Prin Current Funds$155,685$158,960▲ $3,275
Pledges and Grants Receivable-$0-
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$128,728,047$131,845,775▲ $3,117,728
Other Assets Total$1,152,362$841,261▼ $311,101
Liabilities
Mortgage Notes Payable Secured by Investment Property$47,889,000$47,710,071▼ $178,929
Other Liabilities$15,567,206$16,776,407▲ $1,209,201
Accounts Payable and Accrued Expenses$13,830,403$12,599,766▼ $1,230,637
Total Liabilities$77,286,609$77,086,244▼ $200,365
Net Assets / Fund Balance
Total Net Assets Fund Balance$51,441,438$54,759,531▲ $3,318,093
Total Liabilities and Net Assets / Fund Balance$128,728,047$131,845,775▲ $3,117,728

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$928,286$1,465,018-
Other Land Buildings$1,056,613$965,225-
Land$282,414--
Equipment$100,921,858$32,260,428-
Compensation and Service Providers
Top Officer Pay4th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
William RogersManagerFT$125,024$46,739$171,763
Danny SuttonOperations DirectorFT$97,486$32,543$130,029
Kim HenryControllerFT$75,817$24,891$100,708
William R FloydDirector-$14,873-$14,873
Bill S DavisDirector-$13,706-$13,706
Glen H PageSecretary/Treas-$13,598-$13,598
Bobby LovePresident-$13,232-$13,232
Michael BouldinDirector-$12,556-$12,556
Albert R DicusVice President-$10,307-$10,307
J Steve RollerDirector-$9,460-$9,460
James H HillisDirector-$3,950-$3,950
Johnny R CrainDirector-$3,650-$3,650
Jeanette FranceDirector-$1,950-$1,950

Highest Paid Contractors

ContractorServicesLocationCompensation
J & L Tree Service LLCTree Service35 CHERRY CIRCLE, Brush Creek, TN 38547$1,355,574
Davis H Elliot INCUtility Services673 BLUE SKY PARKWAY, Lexington, KY 40580$1,091,001
T & M Distribution Power LLCConstruction247 MASON LANE, Woodbury, TN 37190$481,077
Mckenzie Tree Service INCTree ServicePO BOX 425, Parsons, TN 38363$415,020
G&g Tree Service LLCTree ServicePO BOX 214, Liberty, TN 37095$205,759
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$68,345,262
Investment Income
$807,816
Other Revenue
$3,991
Change in Net Assets
$3,314,818

Audited Revenue Reconciliation

Revenue per Audited Statements
$69,157,069
Total Revenue per Audited Statements
$69,157,069
Total Revenue per Form 990
$69,157,069
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$65,342,469
Salaries, Compensation, and Employee Benefits$499,782
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$4,099,571--$4,099,571
Interest$1,835,110--$1,835,110
Current Officers, Directors, Trustees, and Key Employees$499,782--$499,782
Other Expenses$8,854--$8,854
Total Functional Expenses$65,842,251$0$0$65,842,251

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$65,842,251
Total Expenses per Audited Statements$65,842,251
Total Expenses per Form 990$65,842,251
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
Postretirement benefits$14,527,838
Customer deposits$2,063,400
Other current liabilities$185,169
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 performance of management employees is reviewed by the general manager of the cooperative. Any cost of living adjustments are approved by the board of directors. Each year, the board of directors review the performance of the general manager and determine any adjustments to the manager's salary at this time.”

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

“Financial information is distributed annually to members through an industry publication. 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
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
1940
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
0
Employees
80

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

“memberships received = $16611”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Memberships refunded = -$13336”

Raw XML AppendixShowing 400 of 501 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/PersonNm12DANNY SUTTON
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Vice President
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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
$131,845,775
Liabilities
$77,086,244
Net assets
$54,759,531
Revenue
$69,157,069
Expenses
$65,842,251
Net income
$3,314,818
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