Civic Intelligence

Franklin Electric Cooperative

990 • Fiscal year 2016 • EIN 63-0253927

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 15, 2016

Organization ProfileN/A

View Organization Page

PO Box 10Russellville, AL 35653-0010

(256) 332-2730

Siviq Scores

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

Liabilities / Assets

70th percentile

0.60x

Higher debt load relative to assets than 70% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

4.03x

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

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Net Margin

81st percentile

6.9%

Higher net margin than 81% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

9th percentile

$130,000

Higher top officer pay than 9% of similar nonprofits.

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

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Asset Growth

29th percentile

1.5%

Faster asset growth than 29% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

41st percentile

-0.1%

Faster revenue growth than 41% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$51,021,199

Up $763,059 (+1.5%) from 2015

Net Assets

Down

$20,331,123

Down $469,810 (-2.3%) from 2015

Liabilities

Up

$30,690,076

Up $1,232,869 (+4.2%) from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin81st percentile

Revenue

Down

$7,616,944

Down $5,136 (-0.1%) from 2015

Expenses

Up

$7,094,536

Up $226,305 (+3.3%) from 2015

Net Income

Down

$522,408

Down $231,441 (-31%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth29th 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

2016

Assets$51,021,199
Liabilities$30,690,076
Net Assets$20,331,123
Open 2016 Filing

Operations Trend

Revenue Growth41st 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

2016

Revenue$7,616,944
Expenses$7,094,536
Net Income$522,408
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 15, 2016
Return Version
2015v2.1
Gross Receipts
$7,616,944
Mission and Program Overview

Mission

Rural electricity distribution

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$43,912,551$44,322,038▲ $409,487
Rtn Earn Endowment Incm Other Fnds$20,767,658$20,297,993▼ $469,665
Accounts Receivable$2,557,351$2,535,524▼ $21,827
Savings and Temporary Cash Investments$1,375,512$1,533,784▲ $158,272
Investments Other Securities$1,290,790$1,332,695▲ $41,905
Cash and Non-Interest-Bearing Accounts$721,107$820,782▲ $99,675
Prepaid Expenses and Deferred Charges$290,587$353,619▲ $63,032
Inventories for Sale or Use$110,242$122,757▲ $12,515
Cap Stk Tr Prin Current Funds$33,275$33,130▼ $145
Total Assets$50,258,140$51,021,199▲ $763,059
Liabilities
Mortgage Notes Payable Secured by Investment Property$19,865,482$19,844,501▼ $20,981
Other Liabilities$4,655,403$5,681,501▲ $1,026,098
Accounts Payable and Accrued Expenses$4,936,322$5,164,074▲ $227,752
Total Liabilities$29,457,207$30,690,076▲ $1,232,869
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,800,933$20,331,123▼ $469,810
Total Liabilities and Net Assets / Fund Balance$50,258,140$51,021,199▲ $763,059

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$44,322,038$14,310,785$58,632,823
Compensation and Service Providers
Top Officer Pay9th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ah AkinsGeneral ManaFT$130,000$130,000
James MckinneyTrustee-$12,873$12,873
Bobby HooperTrustee-$11,996$11,996
Edward JonesTrustee-$9,035$9,035
Azalee PageTrustee-$8,160$8,160
Stanley HollandTrustee-$6,182$6,182
Doyle TaylorTrustee-$4,630$4,630
Steve McguireTrustee-$4,630$4,630
Jimmy MontgomeryTrustee-$4,500$4,500
John ShewbartTrustee-$4,500$4,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,503,276
Investment Income
$113,668
Other Revenue
$0
Change in Net Assets
$522,408

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,616,944
Total Revenue per Audited Statements
$7,616,944
Total Revenue per Form 990
$7,616,944
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,841,622
Salaries, Compensation, and Employee Benefits$252,914
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$2,058,086
Interest---$1,012,759
Other Expenses---$483,907
Other Salaries and Wages---$252,914
Total Functional Expenses$0$0$0$7,094,536

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,094,536
Total Expenses per Audited Statements$7,094,536
Total Expenses per Form 990$7,094,536
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$4,978,686
Conservation - Tva$702,815
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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

Filer Name
Franklin Electric Cooperative
EIN
63-0253927
Phone
2563322730
Address
PO BOX 10, RUSSELLVILLE, AL 35653-0010

Signing Officer

Name
Ah Akins
Title
General Manager
Phone
2563322730
Signed
2016-10-15

Organization Details

Principal Officer
Ah Akins
Formed
1945
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
27

Preparer

Firm
Wear Howell Strickland Quinn &lawllc
Address
1323 STRATFORD RD SE, DECATUR, AL 35601-6029
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 -145 prior period adjustment -992,073 total -992,218”

Raw XML Appendix326 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/TotalRevenuePerForm990Amt07616944
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07616944
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07094536
IRS990/ScheduleJRequiredInd0false
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 -145 PRIOR PERIOD ADJUSTMENT -992,073 TOTAL -992,218
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/TotalAssetsBOYAmt050258140
IRS990/TotalAssetsEOYAmt051021199
IRS990/TotalAssetsGrp/BOYAmt050258140
IRS990/TotalAssetsGrp/EOYAmt051021199
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt027
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt07094536
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt029457207
IRS990/TotalLiabilitiesEOYAmt030690076
IRS990/TotalLiabilitiesGrp/BOYAmt029457207
IRS990/TotalLiabilitiesGrp/EOYAmt030690076
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt020800933
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt020331123
IRS990/TotalProgramServiceExpensesAmt07094536
IRS990/TotalProgramServiceRevenueAmt07503276
IRS990/TotalReportableCompFromOrgAmt0196506
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07616944
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07616944
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt050258140
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt051021199
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0AH AKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum02563322730
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLIN ELECTRIC COOPERATIVE
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0630253927
ReturnHeader/Filer/PhoneNum02563322730
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 10
ReturnHeader/Filer/USAddress/CityNm0RUSSELLVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd0356530010
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0630510739
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WEAR HOWELL STRICKLAND QUINN &LAWLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01323 STRATFORD RD SE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DECATUR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0356016029
ReturnHeader/PreparerPersonGrp/PhoneNum02563538902
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRVIN R STRICKLAND
ReturnHeader/ReturnTs02016-12-02T08:46:13-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$51,021,199
Liabilities
$30,690,076
Net assets
$20,331,123
Revenue
$7,616,944
Expenses
$7,094,536
Net income
$522,408
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