Liabilities / Assets
48th percentile
Higher debt load relative to assets than 48% of similar nonprofits.
Covington Electric Cooperative Inc
990 • Fiscal year 2017 • EIN 63-0462077
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.56x
Liabilities / Revenue
68th percentile
Higher debt load relative to revenue than 68% of similar nonprofits.
Net Margin
69th percentile
Higher net margin than 69% of similar nonprofits.
Top Officer Pay
52nd percentile
Higher top officer pay than 52% of similar nonprofits.
Top officer pay equals 0.6% of source-year revenue.
Asset Growth
51st percentile
Faster asset growth than 51% of similar nonprofits.
Revenue Growth
23rd percentile
Faster revenue growth than 23% of similar nonprofits.
Balance Sheet
Assets
Up$153,059,601
Up $4,672,267 (+3.1%) from 2016
Net Assets
Up$67,457,219
Up $2,334,763 (+3.6%) from 2016
Liabilities
Up$85,602,382
Up $2,337,504 (+2.8%) from 2016
Revenue And Expenses
Revenue
Down$54,721,428
Down $880,241 (-1.6%) from 2016
Expenses
Up$53,381,769
Up $324,097 (+0.6%) from 2016
Net Income
Down$1,339,659
Down $1,204,338 (-47%) from 2016
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2017 to Dec 31, 2017
- Signed
- Jun 25, 2018
- Return Version
- 2017v2.3
- Gross Receipts
- $54,721,428
Mission and Program Overview
Mission
The cooperative's primary mission is provide electric service to its approximately 22,400 member-owners in southern alabama.
The cooperative operates as an electric distribution cooperative.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $101,365,222 | $104,808,746 | ▲ $3,443,524 |
| Rtn Earn Endowment Incm Other Fnds | $65,029,608 | $67,364,366 | ▲ $2,334,758 |
| Investments Program Related | $23,843,539 | $23,545,572 | ▼ $297,967 |
| Savings and Temporary Cash Investments | $12,700,000 | $12,700,000 | → $0 |
| Prepaid Expenses and Deferred Charges | $3,742,770 | $4,199,240 | ▲ $456,470 |
| Cash and Non-Interest-Bearing Accounts | $2,456,891 | $3,560,451 | ▲ $1,103,560 |
| Inventories for Sale or Use | $942,557 | $979,742 | ▲ $37,185 |
| Accounts Receivable | $591,010 | $767,359 | ▲ $176,349 |
| Other Notes and Loans Receivable, Net | $446,519 | $524,465 | ▲ $77,946 |
| Cap Stk Tr Prin Current Funds | $92,848 | $92,853 | ▲ $5 |
| Total Assets | $148,387,334 | $153,059,601 | ▲ $4,672,267 |
| Other Assets Total | $2,298,826 | $1,974,026 | ▼ $324,800 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $67,747,150 | $70,413,519 | ▲ $2,666,369 |
| Other Liabilities | $8,488,309 | $7,640,626 | ▼ $847,683 |
| Accounts Payable and Accrued Expenses | $7,029,419 | $7,548,237 | ▲ $518,818 |
| Total Liabilities | $83,264,878 | $85,602,382 | ▲ $2,337,504 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $65,122,456 | $67,457,219 | ▲ $2,334,763 |
| Total Liabilities and Net Assets / Fund Balance | $148,387,334 | $153,059,601 | ▲ $4,672,267 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Investment Program Related Org | $23,545,572 | - | - |
| Other Land Buildings | $104,808,746 | $33,951,817 | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Charles E Short | President & | FT | $299,863 | $10,051 | $309,914 |
| Charles E Short | President & CEO | - | $176,647 | $133,267 | $309,914 |
| Alan J Thrash | VP Operation | FT | $238,362 | $16,701 | $255,063 |
| Alan J Thrash | VP Operations | - | $152,626 | $102,437 | $255,063 |
| Mark G Parker | VP of It | FT | $133,652 | $92,326 | $225,978 |
| Kimberly M Carter | VP Finance | FT | $125,787 | $68,848 | $194,635 |
| Bert L Champion | Tech Serv Ma | FT | $122,341 | $50,577 | $172,918 |
| Bert L Champion | Tech Serv Manager | - | $99,743 | $73,175 | $172,918 |
| Gregory D Fleming | Member Serv | FT | $105,704 | $46,940 | $152,644 |
| Gregory D Fleming | Member Serv Manager | - | $83,826 | $68,818 | $152,644 |
| Steven R Walker | Engineer | FT | $102,219 | $47,726 | $149,945 |
| James M Kyser | Operations M | FT | $107,231 | $14,506 | $121,737 |
| Gary H Harris | Trustee | PT | $25,265 | - | $25,265 |
| C Heflin Smith | Vice Chairma | - | $24,065 | - | $24,065 |
| Patricia C Janasky | Trustee | - | $23,690 | - | $23,690 |
| William G King Jr | Trustee | - | $23,240 | - | $23,240 |
| Willie B Smith Jr | Chairman | - | $21,665 | - | $21,665 |
| James F Martin Jr | Secretary/tr | - | $21,365 | - | $21,365 |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Bailey-harris Construction Company | Bldg Renovation | 1552 BAILEY HARRIS DRIVE, Auburn, AL 36830 | $470,143 |
| Lunsford Construction Co | Line Constr. | 114 S CONNER ST, Enterprise, AL 36330 | $202,198 |
| Earl V Johnson | - | PO BOX 1636, Andalusia, AL 36420 | $106,411 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $52,637,723
- Investment Income
- $1,891,350
- Other Revenue
- $192,355
- Change in Net Assets
- $1,339,659
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $49,328,315 |
| Salaries, Compensation, and Employee Benefits | $1,431,968 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| All Other Expenses | - | - | - | $4,151,015 |
| Depreciation Depletion | - | - | - | $3,887,805 |
| Interest | - | - | - | $3,079,492 |
| Benefits to Members | - | - | - | $2,621,486 |
| Other Expenses | - | - | - | $1,784,430 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $994,474 |
| Other Salaries and Wages | - | - | - | $437,494 |
| Total Functional Expenses | $0 | $0 | $0 | $53,381,769 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Benefits | $3,476,600 |
| Deferred Credits | $2,255,950 |
| Customer Deposits | $1,908,076 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- 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
- 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, Page 6, Part VI, Line 6
“Form 990, part vi, section a, line 6: covington electric cooperative, inc. Is an electric distribution cooperative consisting of approximately 23,400 members. Each customer of the cooperative receiving electric service is a member.”
Form 990, Page 6, Part VI, Line 7A
“Form 990, part vi, section a, line 7a: the cooperative is divided into 6 districts. The members are allowed to vote for the election of a director for each district.”
Form 990, Page 6, Part VI, Line 7B
“Form 990, part vi, section a, 7b: members are allowed to vote on proposed by-law changes during the annual membership meeting.”
Form 990, Page 6, Part VI, Line 11B
“Form 990, part vi, section b, line 11b: the form 990 is prepared by the cooperative's independent auditor. It is presented for review before it is filed. If discrepancies are found, corresponding corrections are made prior to its filing.”
Form 990, Page 6, Part VI, Line 12C
“Form 990, part vi, section b, line 12c: policy no. 154, conflict of interest policy has been enacted by the cooperative to outline the conduct of trustees and employees in regards to conflicts of interest. Each trustee and employee signs an agreement.”
Form 990, Page 6, Part VI, Line 15A
“Form 990, part vi, section b, line 15: salaries of management and key personnel are reviewed by the board using comparable data from others in the industry. Periodically, positions and salaries are reviewed by an outside consultant.”
Form 990, Page 6, Part VI, Line 19
“Form 990, part vi, section c, line 19: all new members are provided with a copy of the bylaws. The cooperative provides all active members condensed financial statements at the annual meeting of members. Policies and other financial information is available to members upon request.”
Filing and Contact Details
Filer
- Filer Name
- Covington Electric Cooperative Inc
- EIN
- 63-0462077
- Phone
- 3342224121
- Address
- 18836 US HWY 84, ANDALUSIA, AL 36421
Signing Officer
- Name
- Charles E Short
- Title
- President & CEO
- Phone
- 3342224121
- Signed
- 2018-06-25
Organization Details
- Principal Officer
- Charles E Short
- Formed
- 1944
- Legal Domicile
- Al
- Voting Board Members
- 6
- Independent Board Members
- 6
- Employees
- 91
Preparer
- Firm
- Gruenloh & Associates Pc
- Address
- PO BOX 895, ROBERTSDALE, AL 36567
- Preparer
- Wayne a Gruenloh
- Phone
- 2519471040
Supplemental Narrative
Additional Explanations
Form 990
“Part ix, line 4- retirement of patronage capital credits disclosed represent the retirement of patronage capital allocated in prior years which were paid to members in the current year.”
Form 990, Page 2, Part III, Line 4D
“Salaries of management and key personnel are reviewed by the board using comparable data from others in the industry. Periodically, positions and salaries are reviewed by an outside consultant.”
Form 990, Part XI, Line 9
“Gains on capital credits retired and changes 0 in other equities 995,104 total 995,104”
Raw XML AppendixShowing 400 of 469 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/TitleTxt | 3 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | CHAIRMAN |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | SECRETARY/TR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | PRESIDENT & |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | VP OPERATION |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | VP OF IT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | VP FINANCE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | TECH SERV MA |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | OPERATIONS M |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | MEMBER SERV |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | ENGINEER |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | false |
| IRS990/FormationYr | 0 | 1944 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedInd | 0 | false |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 6 |
| IRS990/GrantsToIndividualsInd | 0 | false |
| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 54721428 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IndependentAuditFinclStmtInd | 0 | false |
| IRS990/IndependentVotingMemberCnt | 0 | 6 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 8 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InterestGrp/TotalAmt | 0 | 3079492 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 942557 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 979742 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 1891350 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 1891350 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 23843539 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 23545572 |
| IRS990/IRPDocumentCnt | 0 | 20 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 33951817 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 101365222 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 104808746 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 138760563 |
| IRS990/LegalDomicileStateCd | 0 | AL |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersAndShrGrossIncomeAmt | 0 | 51876802 |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | THE COOPERATIVE'S PRIMARY MISSION IS TO PROVIDE SERVICE TO ITS APPROXIMATELY 23,000 MEMBER-OWNERS IN SOUTHERN ALABAMA. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 67747150 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 70413519 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 65122456 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 67457219 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 2298826 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 1974026 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 995104 |
| IRS990/OtherExpensesGrp/Desc | 0 | COST OF POWER |
| IRS990/OtherExpensesGrp/Desc | 1 | DIST EXP - MAINTENANCE |
| IRS990/OtherExpensesGrp/Desc | 2 | ADMIN & GENERAL EXP |
| IRS990/OtherExpensesGrp/Desc | 3 | TAXES |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 29215602 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 4407933 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 2802038 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 1784430 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 8488309 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 7640626 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 221000 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER NON-OPERATING REVENUE |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 192355 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 192355 |
| IRS990/OtherRevenueTotalAmt | 0 | 192355 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 437494 |
| IRS990/OtherSourcesGrossIncomeAmt | 0 | 760921 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 446519 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 524465 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 3742770 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 4199240 |
| IRS990/PrincipalOfficerNm | 0 | CHARLES E SHORT |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | SALES OF ELECTRICITY |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | POLE RENTALS |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | OTHER SALES TO MEMBERS |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 0 | 760921 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 51238659 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 638143 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 51238659 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 760921 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 638143 |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | SALARIES OF MANAGEMENT AND KEY PERSONNEL ARE REVIEWED BY THE BOARD USING COMPARABLE DATA FROM OTHERS IN THE INDUSTRY. PERIODICALLY, POSITIONS AND SALARIES ARE REVIEWED BY AN OUTSIDE CONSULTANT. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 4210418 |
| IRS990/PYInvestmentIncomeAmt | 0 | 1760624 |
| IRS990/PYOtherExpensesAmt | 0 | 42785911 |
| IRS990/PYOtherRevenueAmt | 0 | 15539 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 53825506 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 2543997 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 6061343 |
| IRS990/PYTotalExpensesAmt | 0 | 53057672 |
| IRS990/PYTotalRevenueAmt | 0 | 55601669 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 1339659 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | true |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 65029608 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 67364366 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 12700000 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 12700000 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 0 | 23545572 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 0 | INVESTMENTS IN ASSOCIATED ORG. |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 0 | C |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 104808746 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 33951817 |
| IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt | 0 | 138760563 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 3476600 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 2255950 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 1908076 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | BENEFITS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DEFERRED CREDITS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | CUSTOMER DEPOSITS |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 104808746 |
| IRS990ScheduleD/TotalBookValueProgramRltdAmt | 0 | 23545572 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 7640626 |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | false |
| IRS990/ScheduleJRequiredInd | 0 | true |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 176647 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 1 | 152626 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 2 | 133652 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 3 | 125787 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 4 | 99743 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 5 | 83826 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 96643 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 1 | 60939 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 2 | 11601 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 3 | 7775 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 4 | 6786 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 5 | 5585 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 2113 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 1 | 1478 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 2 | 44265 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 3 | 37979 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 4 | 37246 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 5 | 33699 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 7938 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 1 | 15223 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 2 | 14608 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 3 | 6802 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 4 | 13331 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 5 | 13241 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 26573 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 1 | 24797 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 2 | 21852 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 3 | 16292 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 4 | 15812 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 5 | 16293 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | CHARLES E SHORT |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 1 | ALAN J THRASH |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 2 | MARK G PARKER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 3 | KIMBERLY M CARTER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 4 | BERT L CHAMPION |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 5 | GREGORY D FLEMING |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | PRESIDENT & CEO |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 1 | VP OPERATIONS |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 2 | VP OF IT |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 3 | VP FINANCE |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 4 | TECH SERV MANAGER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 5 | MEMBER SERV MANAGER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 309914 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 1 | 255063 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 2 | 225978 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 3 | 194635 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 4 | 172918 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 5 | 152644 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | false |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | PART IX, LINE 4- RETIREMENT OF PATRONAGE CAPITAL CREDITS DISCLOSED REPRESENT THE RETIREMENT OF PATRONAGE CAPITAL ALLOCATED IN PRIOR YEARS WHICH WERE PAID TO MEMBERS IN THE CURRENT YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | SALARIES OF MANAGEMENT AND KEY PERSONNEL ARE REVIEWED BY THE BOARD USING COMPARABLE DATA FROM OTHERS IN THE INDUSTRY. PERIODICALLY, POSITIONS AND SALARIES ARE REVIEWED BY AN OUTSIDE CONSULTANT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | FORM 990, PART VI, SECTION A, LINE 6: COVINGTON ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC DISTRIBUTION COOPERATIVE CONSISTING OF APPROXIMATELY 23,400 MEMBERS. EACH CUSTOMER OF THE COOPERATIVE RECEIVING ELECTRIC SERVICE IS A MEMBER. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | FORM 990, PART VI, SECTION A, LINE 7A: THE COOPERATIVE IS DIVIDED INTO 6 DISTRICTS. THE MEMBERS ARE ALLOWED TO VOTE FOR THE ELECTION OF A DIRECTOR FOR EACH DISTRICT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | FORM 990, PART VI, SECTION A, 7B: MEMBERS ARE ALLOWED TO VOTE ON PROPOSED BY-LAW CHANGES DURING THE ANNUAL MEMBERSHIP MEETING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 IS PREPARED BY THE COOPERATIVE'S INDEPENDENT AUDITOR. IT IS PRESENTED FOR REVIEW BEFORE IT IS FILED. IF DISCREPANCIES ARE FOUND, CORRESPONDING CORRECTIONS ARE MADE PRIOR TO ITS FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | FORM 990, PART VI, SECTION B, LINE 12C: POLICY NO. 154, CONFLICT OF INTEREST POLICY HAS BEEN ENACTED BY THE COOPERATIVE TO OUTLINE THE CONDUCT OF TRUSTEES AND EMPLOYEES IN REGARDS TO CONFLICTS OF INTEREST. EACH TRUSTEE AND EMPLOYEE SIGNS AN AGREEMENT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | FORM 990, PART VI, SECTION B, LINE 15: SALARIES OF MANAGEMENT AND KEY PERSONNEL ARE REVIEWED BY THE BOARD USING COMPARABLE DATA FROM OTHERS IN THE INDUSTRY. PERIODICALLY, POSITIONS AND SALARIES ARE REVIEWED BY AN OUTSIDE CONSULTANT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | FORM 990, PART VI, SECTION C, LINE 19: ALL NEW MEMBERS ARE PROVIDED WITH A COPY OF THE BYLAWS. THE COOPERATIVE PROVIDES ALL ACTIVE MEMBERS CONDENSED FINANCIAL STATEMENTS AT THE ANNUAL MEETING OF MEMBERS. POLICIES AND OTHER FINANCIAL INFORMATION IS AVAILABLE TO MEMBERS UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 9 | GAINS ON CAPITAL CREDITS RETIRED AND CHANGES 0 IN OTHER EQUITIES 995,104 TOTAL 995,104 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 9 | FORM 990, PART XI, LINE 9 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TempOrPermanentEndowmentsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2017 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $153,059,601
- Liabilities
- $85,602,382
- Net assets
- $67,457,219
- Revenue
- $54,721,428
- Expenses
- $53,381,769
- Net income
- $1,339,659