Civic Intelligence

Franklin Electric Cooperative

990 • Fiscal year 2014 • EIN 63-0253927

Jul 01, 2013 to Jun 30, 2014 • Filed on Sep 30, 2014

Organization ProfileN/A

View Organization Page

PO Box 1035653-0010

(256) 332-2730

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.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

91st percentile

3.47x

Higher debt load relative to revenue than 91% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Net Margin

95th percentile

21%

Higher net margin than 95% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

33rd percentile

$141,642

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Asset Growth

55th percentile

2.8%

Faster asset growth than 55% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

66th percentile

5.2%

Faster revenue growth than 66% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$49,461,390

Up $1,340,491 (+2.8%) from 2013

Net Assets

Up

$20,665,751

Up $1,782,219 (+9.4%) from 2013

Liabilities

Down

$28,795,639

Down $441,728 (-1.5%) from 2013

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin95th percentile

Revenue

Up

$8,305,232

Up $413,517 (+5.2%) from 2013

Expenses

Down

$6,522,848

Down $60,527 (-0.9%) from 2013

Net Income

Up

$1,782,384

Up $474,044 (+36%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$60M$40M$20M$0Assets 2011: $48,057,594Liabilities 2011: $31,317,367Net Assets 2011: $16,740,2272011Assets 2012: $47,132,516Liabilities 2012: $29,557,099Net Assets 2012: $17,575,4172012Assets 2013: $48,120,899Liabilities 2013: $29,237,367Net Assets 2013: $18,883,5322013Assets 2014: $49,461,390Liabilities 2014: $28,795,639Net Assets 2014: $20,665,7512014Assets 2015: $50,258,140Liabilities 2015: $29,457,207Net Assets 2015: $20,800,9332015Assets 2016: $51,021,199Liabilities 2016: $30,690,076Net Assets 2016: $20,331,1232016Assets 2017: $50,164,298Liabilities 2017: $28,993,531Net Assets 2017: $21,170,7672017Assets 2018: $53,100,018Liabilities 2018: $30,357,822Net Assets 2018: $22,742,1962018Assets 2019: $51,743,985Liabilities 2019: $29,718,354Net Assets 2019: $22,025,6312019Assets 2020: $51,700,610Liabilities 2020: $28,869,703Net Assets 2020: $22,830,9072020Assets 2021: $52,441,660Liabilities 2021: $28,028,901Net Assets 2021: $24,412,7592021Assets 2022: $55,032,541Liabilities 2022: $28,941,472Net Assets 2022: $26,091,0692022Assets 2023: $54,446,867Liabilities 2023: $27,055,697Net Assets 2023: $27,391,1702023Assets 2024: $55,919,399Liabilities 2024: $26,403,575Net Assets 2024: $29,515,8242024Assets 2025: $58,710,186Liabilities 2025: $25,465,709Net Assets 2025: $33,244,4772025

Highlighted filing

2014

Assets$49,461,390
Liabilities$28,795,639
Net Assets$20,665,751
Open 2014 Filing

Operations Trend

Revenue Growth66th percentile

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

$15M$10M$5.0M$0Expenses 2011: $6,944,5022011Revenue 2012: $7,697,169Expenses 2012: $6,861,518Net Income 2012: $835,6512012Revenue 2013: $7,891,715Expenses 2013: $6,583,375Net Income 2013: $1,308,3402013Revenue 2014: $8,305,232Expenses 2014: $6,522,848Net Income 2014: $1,782,3842014Revenue 2015: $7,622,080Expenses 2015: $6,868,231Net Income 2015: $753,8492015Revenue 2016: $7,616,944Expenses 2016: $7,094,536Net Income 2016: $522,4082016Revenue 2017: $8,117,979Expenses 2017: $7,456,651Net Income 2017: $661,3282017Revenue 2018: $8,115,906Expenses 2018: $7,169,777Net Income 2018: $946,1292018Revenue 2019: $7,987,201Expenses 2019: $7,776,030Net Income 2019: $211,1712019Revenue 2020: $8,369,236Expenses 2020: $7,567,989Net Income 2020: $801,2472020Revenue 2021: $9,163,216Expenses 2021: $7,839,225Net Income 2021: $1,323,9912021Revenue 2022: $9,493,610Expenses 2022: $8,704,785Net Income 2022: $788,8252022Revenue 2023: $9,985,158Expenses 2023: $9,426,652Net Income 2023: $558,5062023Revenue 2024: $10,500,578Expenses 2024: $8,763,007Net Income 2024: $1,737,5712024Revenue 2025: $10,872,042Expenses 2025: $7,958,618Net Income 2025: $2,913,4242025

Highlighted filing

2014

Revenue$8,305,232
Expenses$6,522,848
Net Income$1,782,384
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Sep 30, 2014
Return Version
2013v3.1
Gross Receipts
$8,305,232
Mission and Program Overview

Mission

Rural electricity distribution

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$42,399,963$43,766,098▲ $1,366,135
Rtn Earn Endowment Incm Other Fnds$18,849,717$20,632,101▲ $1,782,384
Accounts Receivable$2,255,072$2,514,194▲ $259,122
Investments Other Securities$1,199,897$1,248,088▲ $48,191
Savings and Temporary Cash Investments$1,080,301$1,159,848▲ $79,547
Prepaid Expenses and Deferred Charges$591,101$505,043▼ $86,058
Cash and Non-Interest-Bearing Accounts$472,129$148,003▼ $324,126
Inventories for Sale or Use$122,436$120,116▼ $2,320
Cap Stk Tr Prin Current Funds$33,815$33,650▼ $165
Total Assets$48,120,899$49,461,390▲ $1,340,491
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,939,768$20,223,061▼ $716,707
Accounts Payable and Accrued Expenses$4,413,282$4,477,843▲ $64,561
Other Liabilities$3,884,317$4,094,735▲ $210,418
Total Liabilities$29,237,367$28,795,639▼ $441,728
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,883,532$20,665,751▲ $1,782,219
Total Liabilities and Net Assets / Fund Balance$48,120,899$49,461,390▲ $1,340,491

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$43,766,098$11,530,554$55,296,652
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ah AkinsGeneral ManaFT$141,642$141,642
Steve McguireTrustee-$4,420$4,420
Doyle TaylorTrustee-$4,410$4,410
Ross WhiteTrustee-$4,320$4,320
Azalee PageTrustee-$4,300$4,300
Bobby HooperTrustee-$4,300$4,300
Edward JonesTrustee-$4,300$4,300
James MckinneyTrustee-$4,300$4,300
Jimmy MontgomeryTrustee-$4,300$4,300
Stanley HollandTrustee-$4,300$4,300
John ShewbartTrustee-$300$300
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,177,391
Investment Income
$127,841
Other Revenue
$0
Change in Net Assets
$1,782,384

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,305,232
Total Revenue per Audited Statements
$8,305,232
Total Revenue per Form 990
$8,305,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,281,478
Salaries, Compensation, and Employee Benefits$241,370
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,859,494
Interest---$1,083,042
Other Expenses---$397,603
Other Salaries and Wages---$241,370
Total Functional Expenses$0$0$0$6,522,848

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,522,848
Total Expenses per Audited Statements$6,522,848
Total Expenses per Form 990$6,522,848
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
Accrued Post Retirement Benefits$3,328,690
Conservation - Tva$766,045
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Everyone who receives service from the cooperative is a member of the cooperative.”

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

“The governing body is elected by the members of the cooperative.”

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

“The form 990 is reviewed by the general manager and accountant.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
63-0253927
Phone
2563322730

Signing Officer

Name
Ah Akins
Title
General Manager
Phone
2563322730
Signed
2014-09-30

Organization Details

Formed
1945
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
27

Preparer

Preparer
Irvin R Strickland
Phone
2563538902
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Electric utility cooperative”

Form 990, Part XI, Line 9

“Change in investment of members 165”

Raw XML Appendix340 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED POST RETIREMENT BENEFITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CONSERVATION - TVA
IRS990ScheduleD/RevenueSubtotalAmt08305232
IRS990ScheduleD/TotalBookValueLandBuildingsAmt043766098
IRS990ScheduleD/TotalExpensesPerForm990Amt06522848
IRS990ScheduleD/TotalLiabilityAmt04094735
IRS990ScheduleD/TotalRevenuePerForm990Amt08305232
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08305232
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06522848
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0300
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN SHEWBART
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0300
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ELECTRIC UTILITY COOPERATIVE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EVERYONE WHO RECEIVES SERVICE FROM THE COOPERATIVE IS A MEMBER OF THE COOPERATIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BODY IS ELECTED BY THE MEMBERS OF THE COOPERATIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE GENERAL MANAGER AND ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CHANGE IN INVESTMENT OF MEMBERS 165
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt048120899
IRS990/TotalAssetsEOYAmt049461390
IRS990/TotalAssetsGrp/BOYAmt048120899
IRS990/TotalAssetsGrp/EOYAmt049461390
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt027
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06522848
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt029237367
IRS990/TotalLiabilitiesEOYAmt028795639
IRS990/TotalLiabilitiesGrp/BOYAmt029237367
IRS990/TotalLiabilitiesGrp/EOYAmt028795639
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt018883532
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt020665751
IRS990/TotalProgramServiceExpensesAmt06522848
IRS990/TotalProgramServiceRevenueAmt08177391
IRS990/TotalReportableCompFromOrgAmt0180892
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08305232
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08305232
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt048120899
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt049461390
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0AH AKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum02563322730
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-09-30
ReturnHeader/Filer/BusinessName/BusinessNameLine10FRANKLIN ELECTRIC COOPERATIVE
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0630253927
ReturnHeader/Filer/PhoneNum02563322730
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 10
ReturnHeader/Filer/USAddress/City0RUSSELLVILLE
ReturnHeader/Filer/USAddress/State0AL
ReturnHeader/Filer/USAddress/ZIPCode0356530010
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0630510739
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10WEAR HOWELL STRICKLAND QUINN &LAWLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine101323 STRATFORD RD SE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0DECATUR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0356016029
ReturnHeader/PreparerPersonGrp/PhoneNum02563538902
ReturnHeader/PreparerPersonGrp/PreparationDt02014-10-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRVIN R STRICKLAND
ReturnHeader/ReturnTs02014-10-15T10:07:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$49,461,390
Liabilities
$28,795,639
Net assets
$20,665,751
Revenue
$8,305,232
Expenses
$6,522,848
Net income
$1,782,384
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$58.7$25.5$33.2$10.9$7.96$2.91
2024Detailed filing. Detailed filing data is available for this year.$55.9$26.4$29.5$10.5$8.76$1.74
2023Detailed filing. Detailed filing data is available for this year.$54.4$27.1$27.4$9.99$9.43$0.56
2022Detailed filing. Detailed filing data is available for this year.$55.0$28.9$26.1$9.49$8.70$0.79
2021Detailed filing. Detailed filing data is available for this year.$52.4$28.0$24.4$9.16$7.84$1.32
2020Detailed filing. Detailed filing data is available for this year.$51.7$28.9$22.8$8.37$7.57$0.80
2019Detailed filing. Detailed filing data is available for this year.$51.7$29.7$22.0$7.99$7.78$0.21
2018Detailed filing. Detailed filing data is available for this year.$53.1$30.4$22.7$8.12$7.17$0.95
2017Detailed filing. Detailed filing data is available for this year.$50.2$29.0$21.2$8.12$7.46$0.66
2016Detailed filing. Detailed filing data is available for this year.$51.0$30.7$20.3$7.62$7.09$0.52
2015Detailed filing. Detailed filing data is available for this year.$50.3$29.5$20.8$7.62$6.87$0.75
2014Detailed filing. Detailed filing data is available for this year.$49.5$28.8$20.7$8.31$6.52$1.78
2013Summary only. Only limited summary data is available for this year.$48.1$29.2$18.9$7.89$6.58$1.31
2012Summary only. Only limited summary data is available for this year.$47.1$29.6$17.6$7.70$6.86$0.84
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.1$31.3$16.7$6.94