Civic Intelligence

Franklin Electric Cooperative

990 • Fiscal year 2019 • EIN 63-0253927

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

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

68th percentile

0.57x

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

2019 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

97th percentile

3.72x

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

2019 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2019

Net Margin

67th percentile

2.6%

Higher net margin than 67% of similar nonprofits.

2019 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

10th percentile

$141,464

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2019 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2019

Asset Growth

3rd percentile

-2.6%

Faster asset growth than 3% of similar nonprofits.

2019 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

32nd percentile

-1.6%

Faster revenue growth than 32% of similar nonprofits.

2019 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$51,743,985

Down $1,356,033 (-2.6%) from 2018

Net Assets

Down

$22,025,631

Down $716,565 (-3.2%) from 2018

Liabilities

Down

$29,718,354

Down $639,468 (-2.1%) from 2018

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin67th percentile

Revenue

Down

$7,987,201

Down $128,705 (-1.6%) from 2018

Expenses

Up

$7,776,030

Up $606,253 (+8.5%) from 2018

Net Income

Down

$211,171

Down $734,958 (-78%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth3rd 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

2019

Assets$51,743,985
Liabilities$29,718,354
Net Assets$22,025,631
Open 2019 Filing

Operations Trend

Revenue Growth32nd 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

2019

Revenue$7,987,201
Expenses$7,776,030
Net Income$211,171
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 15, 2019
Return Version
2018v3.2
Gross Receipts
$7,987,201
Mission and Program Overview

Mission

Rural electricity distribution

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$44,793,449$45,345,903▲ $552,454
Rtn Earn Endowment Incm Other Fnds$22,708,916$21,992,496▼ $716,420
Accounts Receivable$2,805,606$2,481,914▼ $323,692
Cash and Non-Interest-Bearing Accounts$1,370,571$1,897,654▲ $527,083
Investments Other Securities$1,416,373$1,457,902▲ $41,529
Prepaid Expenses and Deferred Charges$361,935$281,165▼ $80,770
Inventories for Sale or Use$129,578$143,857▲ $14,279
Savings and Temporary Cash Investments$2,222,506$135,590▼ $2,086,916
Cap Stk Tr Prin Current Funds$33,280$33,135▼ $145
Total Assets$53,100,018$51,743,985▼ $1,356,033
Liabilities
Mortgage Notes Payable Secured by Investment Property$19,054,163$18,135,653▼ $918,510
Accounts Payable and Accrued Expenses$6,456,053$5,868,164▼ $587,889
Other Liabilities$4,847,606$5,714,537▲ $866,931
Total Liabilities$30,357,822$29,718,354▼ $639,468
Net Assets / Fund Balance
Total Net Assets Fund Balance$22,742,196$22,025,631▼ $716,565
Total Liabilities and Net Assets / Fund Balance$53,100,018$51,743,985▼ $1,356,033

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$45,345,903$18,244,737$63,590,640
Compensation and Service Providers
Top Officer Pay10th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mark StocktonGeneral ManaFT$141,464$141,464
Bobby HooperTrustee-$9,509$9,509
Doyle TaylorTrustee-$9,245$9,245
James MckinneyTrustee-$7,947$7,947
Stanley HollandTrustee-$7,469$7,469
Edward JonesTrustee-$7,455$7,455
Steve McguireTrustee-$6,700$6,700
Donna HesterTrustee-$6,600$6,600
Jimmy MontgomeryTrustee-$6,600$6,600
John ShewbertTrustee-$6,600$6,600
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,877,576
Investment Income
$109,625
Other Revenue
$0
Change in Net Assets
$211,171

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,987,201
Total Revenue per Audited Statements
$7,987,201
Total Revenue per Form 990
$7,987,201
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,448,581
Salaries, Compensation, and Employee Benefits$327,449
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$2,290,057
Interest---$913,645
Other Expenses---$432,590
Other Salaries and Wages---$327,449
Total Functional Expenses$0$0$0$7,776,030

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,776,030
Total Expenses per Audited Statements$7,776,030
Total Expenses per Form 990$7,776,030
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$5,386,183
Conservation - Tva$328,354
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
Mark Stockton
Title
General Manager
Phone
2563322730
Signed
2019-01-15

Organization Details

Principal Officer
Mark Stockton
Formed
1945
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
29

Preparer

Firm
Wear Howell Strickland Quinn &lawllc
Address
1323 STRATFORD RD SE, DECATUR, AL 35601-6029
Preparer
Steven 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

“Changes in accumulated other comprehensive income -927,591 change in investment of members -145 total -927,736”

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/TotalLiabilityAmt05714537
IRS990ScheduleD/TotalRevenuePerForm990Amt07987201
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07987201
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07776030
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/ExplanationTxt5CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME -927,591 CHANGE IN INVESTMENT OF MEMBERS -145 TOTAL -927,736
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt053100018
IRS990/TotalAssetsEOYAmt051743985
IRS990/TotalAssetsGrp/BOYAmt053100018
IRS990/TotalAssetsGrp/EOYAmt051743985
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt029
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt07776030
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt030357822
IRS990/TotalLiabilitiesEOYAmt029718354
IRS990/TotalLiabilitiesGrp/BOYAmt030357822
IRS990/TotalLiabilitiesGrp/EOYAmt029718354
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt022742196
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt022025631
IRS990/TotalProgramServiceExpensesAmt07776030
IRS990/TotalProgramServiceRevenueAmt07877576
IRS990/TotalReportableCompFromOrgAmt0209589
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07987201
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07987201
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt053100018
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt051743985
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 10
IRS990/USAddress/CityNm0RUSSELLVILLE
IRS990/USAddress/StateAbbreviationCd0AL
IRS990/USAddress/ZIPCd035653
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK STOCKTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum02563322730
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-01-15
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/FilingSecurityInformation/AtSubmissionCreationDeviceId004853B4DBCF67880A8CF5AA20108FE4D39C8667A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId070D92782A0C266E05A9A88B1EF7280712BACB387
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.27.151.146
ReturnHeader/FilingSecurityInformation/IPDt02020-02-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm006:14:15
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/PreparationDt02020-01-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN R STRICKLAND
ReturnHeader/ReturnTs02020-02-04T06:14:15-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$51,743,985
Liabilities
$29,718,354
Net assets
$22,025,631
Revenue
$7,987,201
Expenses
$7,776,030
Net income
$211,171
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