Civic Intelligence

Cullman Electric Cooperative

990 • Fiscal year 2020 • EIN 63-0052772

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 15, 2020

Organization ProfileWWW.CULLMANEC.COM
PO Box 1168Cullman, AL 35056-1168

(256) 737-3200

Siviq Scores

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

Liabilities / Assets

26th percentile

0.44x

Higher debt load relative to assets than 26% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

16th percentile

0.81x

Higher debt load relative to revenue than 16% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Net Margin

68th percentile

2.2%

Higher net margin than 68% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$271,379

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Asset Growth

14th percentile

0.7%

Faster asset growth than 14% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

30th percentile

-3.9%

Faster revenue growth than 30% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$213,524,671

Up $1,509,683 (+0.7%) from 2019

Net Assets

Up

$118,879,210

Up $3,116,076 (+2.7%) from 2019

Liabilities

Down

$94,645,461

Down $1,606,393 (-1.7%) from 2019

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin68th percentile

Revenue

Down

$117,305,438

Down $4,782,174 (-3.9%) from 2019

Expenses

Down

$114,680,006

Down $1,746,368 (-1.5%) from 2019

Net Income

Down

$2,625,432

Down $3,035,806 (-54%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$400M$300M$200M$100M$0Assets 2010: $157,071,235Liabilities 2010: $90,081,622Net Assets 2010: $66,989,6132010Assets 2011: $171,855,087Liabilities 2011: $92,807,256Net Assets 2011: $79,047,8312011Assets 2012: $174,780,854Liabilities 2012: $90,428,939Net Assets 2012: $84,351,9152012Assets 2013: $182,929,740Liabilities 2013: $93,069,662Net Assets 2013: $89,860,0782013Assets 2014: $187,140,632Liabilities 2014: $95,277,821Net Assets 2014: $91,862,8112014Assets 2015: $188,007,449Liabilities 2015: $91,947,712Net Assets 2015: $96,059,7372015Assets 2016: $193,555,570Liabilities 2016: $93,150,628Net Assets 2016: $100,404,9422016Assets 2017: $202,022,718Liabilities 2017: $96,705,236Net Assets 2017: $105,317,4822017Assets 2018: $206,304,242Liabilities 2018: $96,207,556Net Assets 2018: $110,096,6862018Assets 2019: $212,014,988Liabilities 2019: $96,251,854Net Assets 2019: $115,763,1342019Assets 2020: $213,524,671Liabilities 2020: $94,645,461Net Assets 2020: $118,879,2102020Assets 2021: $231,310,688Liabilities 2021: $107,648,142Net Assets 2021: $123,662,5462021Assets 2022: $256,114,342Liabilities 2022: $127,013,880Net Assets 2022: $129,100,4622022Assets 2023: $276,811,469Liabilities 2023: $143,835,702Net Assets 2023: $132,975,7672023Assets 2024: $303,612,808Liabilities 2024: $164,823,306Net Assets 2024: $138,789,5022024Assets 2025: $340,062,839Liabilities 2025: $190,973,922Net Assets 2025: $149,088,9172025

Highlighted filing

2020

Assets$213,524,671
Liabilities$94,645,461
Net Assets$118,879,210
Open 2020 Filing

Operations Trend

Revenue Growth30th percentile

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

$200M$150M$100M$50M$0Expenses 2010: $101,546,4882010Expenses 2011: $112,866,2492011Expenses 2012: $103,183,1532012Revenue 2013: $110,101,180Expenses 2013: $104,558,120Net Income 2013: $5,543,0602013Revenue 2014: $59,053,595Expenses 2014: $56,504,502Net Income 2014: $2,549,0932014Revenue 2015: $115,662,800Expenses 2015: $111,472,744Net Income 2015: $4,190,0562015Revenue 2016: $110,502,860Expenses 2016: $106,140,787Net Income 2016: $4,362,0732016Revenue 2017: $115,561,460Expenses 2017: $110,620,734Net Income 2017: $4,940,7262017Revenue 2018: $119,843,246Expenses 2018: $115,307,129Net Income 2018: $4,536,1172018Revenue 2019: $122,087,612Expenses 2019: $116,426,374Net Income 2019: $5,661,2382019Revenue 2020: $117,305,438Expenses 2020: $114,680,006Net Income 2020: $2,625,4322020Revenue 2021: $119,158,465Expenses 2021: $114,213,338Net Income 2021: $4,945,1272021Revenue 2022: $129,698,192Expenses 2022: $129,698,192Net Income 2022: $02022Revenue 2023: $145,062,218Expenses 2023: $145,062,218Net Income 2023: $02023Revenue 2024: $150,626,956Expenses 2024: $150,626,956Net Income 2024: $02024Revenue 2025: $167,943,353Expenses 2025: $167,943,353Net Income 2025: $02025

Highlighted filing

2020

Revenue$117,305,438
Expenses$114,680,006
Net Income$2,625,432
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 15, 2020
Return Version
2019v5.0
Gross Receipts
$117,305,438
Mission and Program Overview

Mission

Cullman electric cooperative's mission is to provide electric service to its members located in four north alabama counties while adhering to the following values: commitment, accountability, reliability and efficiency.

Cullman electric cooperative's mission is to provide electric service to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$156,961,677$165,511,414▲ $8,549,737
Rtn Earn Endowment Incm Other Fnds$115,589,014$118,702,035▲ $3,113,021
Savings and Temporary Cash Investments$26,542,485$18,073,937▼ $8,468,548
Accounts Receivable$14,289,282$13,499,725▼ $789,557
Other Notes and Loans Receivable, Net$4,523,850$4,022,243▼ $501,607
Cash and Non-Interest-Bearing Accounts$2,319,064$3,736,060▲ $1,416,996
Inventories for Sale or Use$1,235,698$2,958,671▲ $1,722,973
Investments Other Securities$2,897,165$2,946,377▲ $49,212
Prepaid Expenses and Deferred Charges$2,997,844$2,517,056▼ $480,788
Cap Stk Tr Prin Current Funds$174,120$177,175▲ $3,055
Total Assets$212,014,988$213,524,671▲ $1,509,683
Other Assets Total$247,923$259,188▲ $11,265
Liabilities
Mortgage Notes Payable Secured by Investment Property$67,152,357$66,101,465▼ $1,050,892
Accounts Payable and Accrued Expenses$21,068,909$21,388,197▲ $319,288
Other Liabilities$8,030,588$7,155,799▼ $874,789
Total Liabilities$96,251,854$94,645,461▼ $1,606,393
Net Assets / Fund Balance
Total Net Assets Fund Balance$115,763,134$118,879,210▲ $3,116,076
Total Liabilities and Net Assets / Fund Balance$212,014,988$213,524,671▲ $1,509,683

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$156,562,164$81,807,307$238,369,471
Equipment$3,755,467$5,287,651$9,043,118
Buildings$4,129,534$4,459,510$8,589,044
Land$1,064,249-$1,064,249
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tim CulpepperCEOFT$217,651$53,728$271,379
Jerry WeathersbyCFOFT$150,857$60,958$211,815
Wade YarbroughManager of OFT$126,555$56,121$182,676
Wade YarbroughManager of Operation-$124,254$58,422$182,676
Terry GrahamManager, KeyFT$136,220$44,369$180,589
Terry GrahamManager, Key Account-$119,287$61,302$180,589
William LinkLinemanFT$120,744$33,016$153,760
Justin LeeManager of EFT$122,013$19,449$141,462
Robert Tidwell JrChairperson-$19,990-$19,990
David HembreeTrustee-$19,390-$19,390
Lynda CarterSecretary-$19,390-$19,390
James Fields JrVice Chairpe-$19,390-$19,390
Lisa WeeksTrustee-$19,390-$19,390
Chad AlexanderTreasurer-$19,390-$19,390
Daryl CalvertTrustee-$19,390-$19,390
Phillip GarrisonTrustee-$18,790-$18,790
Sheila SizemoreTrustee-$18,440-$18,440

Highest Paid Contractors

ContractorServicesLocationCompensation
Lee Electrical Construction INCOverhead ContraPO BOX 55, Aberdeen, NC 28315$3,198,181
Davey Tree Expert CoRight Of Way Cl1500 NORTH MANTUA STREET, Kent, OH 44240$2,028,867
Aubrey Silvey Enterprises INCSubstation ContPO BOX 890093, Charlotte, NC 28289$1,216,283
Evergreen Tree And Right Of Way ServRight Of Way Cl280 CARTBODY ROAD, Carrolton, GA 30116$727,082
Utility Lines Construction ServicesUnderground Con617 NORTH 13TH STREET, Birmingham, AL 35203$404,291
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$113,159,088
Investment Income
$666,702
Other Revenue
$3,479,648
Change in Net Assets
$2,625,432

Audited Revenue Reconciliation

Revenue per Audited Statements
$117,305,438
Total Revenue per Audited Statements
$117,305,438
Total Revenue per Form 990
$117,305,438
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$106,593,076
Salaries, Compensation, and Employee Benefits$8,086,930
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$7,682,939--$7,682,939
Other Salaries and Wages$5,955,283--$5,955,283
Other Expenses$4,122,392--$4,122,392
Interest$2,384,393--$2,384,393
Office Expenses$2,163,993--$2,163,993
Other Employee Benefits$2,131,647--$2,131,647
Advertising$58,972--$58,972
All Other Expenses$3,248--$3,248
Total Functional Expenses$114,680,006$0$0$114,680,006

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$114,680,006
Expenses per Audited Statements$113,826,626
Total Expenses per Audited Statements$113,826,626
Expenses Not Reported on Financial Statements$853,380
Other Expense Adjustments$853,380
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advance for Conservation Loans$3,945,927
Member Deposits$2,608,048
Post Retirement Health Benefits$601,824
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 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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“MEMBERS”

Form 990, Page 6, Part VI, Line 7A

“The members elect the board of trustees”

Form 990, Page 6, Part VI, Line 11B

“After the form 990 was prepared by the independent auditors, the chief financial officer and the controller performed the initial review. The cooperative's ceo reviewed the report. The cooperative's governing board was provided a copy of the report and reviewed the report at a regular board meeting.”

Form 990, Page 6, Part VI, Line 12C

“A copy of the conflict of interest policy and a questionnaire is provided annually to all trustees, applicable management team members and selected employees to be returned to the ceo or executive committee of the board of trustees.”

Form 990, Page 6, Part VI, Line 15A

“The board of trustees evaluates the performance of the ceo annually. During this time compensation is reviewed and the board, acting as the compensation committee, makes their recommendation.”

Form 990, Page 6, Part VI, Line 19

“Cullman electric cooperative's governing documents, conflict of interest policy, and financial statements are available upon request through the office of the chief financial officer.”

Filing and Contact Details

Filer

Filer Name
Cullman Electric Cooperative
EIN
63-0052772
Phone
2567373200
Address
PO BOX 1168, CULLMAN, AL 35056-1168

Signing Officer

Name
Tim Culpepper
Title
CEO
Phone
2567373265
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Culpepper
Formed
1936
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
108

Preparer

Firm
Wear Howell Strickland Quinn &lawllc
Address
1323 STRATFORD RD SE, DECATUR, AL 35601-6029
Preparer
Lynn Reeves
Phone
2563538902
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Post-retirement benefits adjustment 487,589 change in memberships 3,055 total 490,644”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

“Contract billing expenses 853,380”

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IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE CHAIRPE
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IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
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IRS990/MissionDesc0CULLMAN ELECTRIC COOPERATIVE'S MISSION IS TO PROVIDE ELECTRIC SERVICE TO ITS MEMBERS LOCATED IN FOUR NORTH ALABAMA COUNTIES WHILE ADHERING TO THE FOLLOWING VALUES: COMMITMENT, ACCOUNTABILITY, RELIABILITY AND EFFICIENCY.
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IRS990/OtherExpensesGrp/Desc2TAXES
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/EquipmentGrp/BookValueAmt03755467
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05287651
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09043118
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01064249
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CONTRACT BILLING EXPENSES 853,380
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$213,524,671
Liabilities
$94,645,461
Net assets
$118,879,210
Revenue
$117,305,438
Expenses
$114,680,006
Net income
$2,625,432
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$340$191$149$168$168$0.00
2024Detailed filing. Detailed filing data is available for this year.$304$165$139$151$151$0.00
2023Detailed filing. Detailed filing data is available for this year.$277$144$133$145$145$0.00
2022Detailed filing. Detailed filing data is available for this year.$256$127$129$130$130$0.00
2021Detailed filing. Detailed filing data is available for this year.$231$108$124$119$114$4.95
2020Detailed filing. Detailed filing data is available for this year.$214$94.6$119$117$115$2.63
2019Detailed filing. Detailed filing data is available for this year.$212$96.3$116$122$116$5.66
2018Detailed filing. Detailed filing data is available for this year.$206$96.2$110$120$115$4.54
2017Detailed filing. Detailed filing data is available for this year.$202$96.7$105$116$111$4.94
2016Detailed filing. Detailed filing data is available for this year.$194$93.2$100$111$106$4.36
2015Detailed filing. Detailed filing data is available for this year.$188$91.9$96.1$116$111$4.19
2014Summary only. Only limited summary data is available for this year.$187$95.3$91.9$59.1$56.5$2.55
2013Detailed filing. Detailed filing data is available for this year.$183$93.1$89.9$110$105$5.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$175$90.4$84.4$103
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$172$92.8$79.0$113
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$157$90.1$67.0$102