Civic Intelligence

Claiborne Electric Cooperative Inc

990 • Fiscal year 2023 • EIN 72-0154371

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 28, 2024

Organization Profilewww.our.coop
PO Box 719Homer, LA 71040

(318) 927-3504

Siviq Scores

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

Liabilities / Assets

99th percentile

0.84x

Higher debt load relative to assets than 99% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

1.71x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Net Margin

1st percentile

-4.9%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

36th percentile

$326,709

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Asset Growth

45th percentile

3.5%

Faster asset growth than 45% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

37th percentile

1.0%

Faster revenue growth than 37% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$135,201,019

Up $4,633,016 (+3.5%) from 2022

Net Assets

Down

$21,611,239

Down $3,401,122 (-14%) from 2022

Liabilities

Up

$113,589,780

Up $8,034,138 (+7.6%) from 2022

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin1st percentile

Revenue

Up

$66,495,647

Up $652,960 (+1.0%) from 2022

Expenses

Up

$69,745,764

Up $2,116,617 (+3.1%) from 2022

Net Income

Down

-$3,250,117

Down $1,463,657 (-82%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

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

$150M$100M$50M$0Assets 2010: $76,956,054Liabilities 2010: $54,428,590Net Assets 2010: $22,527,4642010Assets 2011: $83,755,109Liabilities 2011: $62,290,110Net Assets 2011: $21,464,9992011Assets 2012: $88,521,503Liabilities 2012: $68,326,205Net Assets 2012: $20,195,2982012Assets 2013: $98,896,344Liabilities 2013: $77,159,326Net Assets 2013: $21,737,0182013Assets 2014: $100,517,967Liabilities 2014: $79,607,205Net Assets 2014: $20,910,7622014Assets 2015: $105,473,446Liabilities 2015: $84,084,361Net Assets 2015: $21,389,0852015Assets 2016: $112,198,693Liabilities 2016: $89,636,863Net Assets 2016: $22,561,8302016Assets 2017: $113,914,634Liabilities 2017: $91,580,813Net Assets 2017: $22,333,8212017Assets 2018: $116,321,619Liabilities 2018: $92,376,677Net Assets 2018: $23,944,9422018Assets 2019: $116,897,533Liabilities 2019: $90,398,694Net Assets 2019: $26,498,8392019Assets 2020: $122,907,315Liabilities 2020: $96,335,053Net Assets 2020: $26,572,2622020Assets 2021: $126,445,494Liabilities 2021: $100,540,600Net Assets 2021: $25,904,8942021Assets 2022: $130,568,003Liabilities 2022: $105,555,642Net Assets 2022: $25,012,3612022Assets 2023: $135,201,019Liabilities 2023: $113,589,780Net Assets 2023: $21,611,2392023Assets 2024: $134,238,722Liabilities 2024: $112,868,305Net Assets 2024: $21,370,4172024

Highlighted filing

2023

Assets$135,201,019
Liabilities$113,589,780
Net Assets$21,611,239
Open 2023 Filing

Operations Trend

Revenue Growth37th percentile

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $40,834,1132010Expenses 2011: $41,881,3732011Expenses 2012: $42,443,3322012Revenue 2013: $45,872,162Expenses 2013: $44,390,112Net Income 2013: $1,482,0502013Revenue 2014: $50,061,822Expenses 2014: $50,493,171Net Income 2014: -$431,3492014Revenue 2015: $53,370,992Expenses 2015: $53,370,992Net Income 2015: $02015Revenue 2016: $55,304,603Expenses 2016: $55,304,603Net Income 2016: $02016Revenue 2017: $54,990,463Expenses 2017: $55,127,907Net Income 2017: -$137,4442017Revenue 2018: $61,226,483Expenses 2018: $61,226,483Net Income 2018: $02018Revenue 2019: $58,687,235Expenses 2019: $58,687,235Net Income 2019: $02019Revenue 2020: $55,005,858Expenses 2020: $55,005,858Net Income 2020: $02020Revenue 2021: $58,416,473Expenses 2021: $58,633,788Net Income 2021: -$217,3152021Revenue 2022: $65,842,687Expenses 2022: $67,629,147Net Income 2022: -$1,786,4602022Revenue 2023: $66,495,647Expenses 2023: $69,745,764Net Income 2023: -$3,250,1172023Revenue 2024: $73,528,200Expenses 2024: $73,591,430Net Income 2024: -$63,2302024

Highlighted filing

2023

Revenue$66,495,647
Expenses$69,745,764
Net Income-$3,250,117
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 28, 2024
Return Version
2023v5.1
Gross Receipts
$66,495,647
Mission and Program Overview

Mission

The wholesale purchase, distribution, and retail sale of electricity to approximately 18,161 rural members.

The wholesale purchase, distribution, and retail sale of electricity to approximately 18,553 rural members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$104,636,474$109,172,818▲ $4,536,344
Rtn Earn Endowment Incm Other Fnds$25,012,361$21,611,239▼ $3,401,122
Accounts Receivable$14,717,789$11,206,550▼ $3,511,239
Inventories for Sale or Use$1,956,409$2,142,798▲ $186,389
Investments Other Securities-$1,215,479-
Cash and Non-Interest-Bearing Accounts$1,118,360$555,022▼ $563,338
Prepaid Expenses and Deferred Charges$337,459$309,583▼ $27,876
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$130,568,003$135,201,019▲ $4,633,016
Other Assets Total$7,801,512$10,598,769▲ $2,797,257
Liabilities
Mortgage Notes Payable Secured by Investment Property$93,663,498$99,290,601▲ $5,627,103
Accounts Payable and Accrued Expenses$6,464,865$7,904,292▲ $1,439,427
Other Liabilities$5,427,279$6,394,887▲ $967,608
Total Liabilities$105,555,642$113,589,780▲ $8,034,138
Net Assets / Fund Balance
Total Net Assets Fund Balance$25,012,361$21,611,239▼ $3,401,122
Total Liabilities and Net Assets / Fund Balance$130,568,003$135,201,019▲ $4,633,016

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$109,172,818$73,536,921$182,709,739
Other Assets Org$262,124--
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark BrownGm & CEOFT$249,113$77,596$326,709
Kathy TannerCFOFT$170,462$63,060$233,522
Rocky LachneyArea ServicemanFT$174,704$52,242$226,946
Caleb TempleForemanFT$167,608$51,912$219,520
Adam FlennikenArea ServicemanFT$156,277$50,224$206,501
Daniel KimbellOp & Maint ManagerFT$152,153$54,259$206,412
Jeremy ShawArea ServicemanFT$169,188$36,323$205,511
Philip FincherVice PresidentPT$21,000-$21,000
Lane DavidsonDirectorPT$13,000-$13,000
Leroy PerrittDirectorPT$11,000-$11,000
Rand KillgoreDirectorPT$10,000-$10,000
Ben AbshireDirectorPT$10,000-$10,000
Scott JonesSecretary/TreasPT$7,500-$7,500
Hez ElkinsPresidentPT$7,500-$7,500
Jody WoodardDirectorPT$7,500-$7,500
Willie SensleyDirectorPT$7,000-$7,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Echo Power LLCElectric ContractorPO BOX 539, Bunkie, LA 71322$3,460,992
Right Away Maintenance Co LLCTree-trim Contractor2545 WEST PARK AVE, Gray, LA 70359$1,874,722
Temptest Energy LLCElectric Contractor800 WINWARD DRIVE, Covington, LA 70433$450,789
NiscSoftware Support & SolutiPO BOX 1147, Mandan, ND 58554$370,087
Osmose Utilities Services INCPole InspectionPOBOX 117284, Atlanta, GA 30368$341,889
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$64,473,504
Investment Income
$1,563,867
Other Revenue
$458,276
Change in Net Assets
$-3,250,117

Audited Revenue Reconciliation

Revenue per Audited Statements
$66,495,647
Total Revenue per Audited Statements
$66,495,647
Total Revenue per Form 990
$66,495,647
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$69,091,033
Salaries, Compensation, and Employee Benefits$654,731
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$5,303,395--$5,303,395
Interest$3,738,693--$3,738,693
Other Expenses$1,870,802--$1,870,802
All Other Expenses$1,696,648--$1,696,648
Current Officers, Directors, Trustees, and Key Employees$654,731--$654,731
Total Functional Expenses$69,745,764$0$0$69,745,764

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$69,745,764
Total Expenses per Audited Statements$69,745,764
Total Expenses per Form 990$69,745,764
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Consumer Deposits$2,773,381
Other Deferred Credits-expense Reimburse$1,809,395
Retirement Plan Payable$734,400
Other Deferred Credit-consumer Energy Pr$594,914
Other Deferred Credit-other Salary Cont.$481,079
Other Deferred Credit-retired Emp. Ins.$1,718
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Member owned electric cooperative with each member having a vote.”

Form 990, Part VI, Section B, Line 11B

“Board of directors review annual tax filings”

Form 990, Part VI, Section B, Line 15A

“Managements' compensation is reviewed and approved annually by board of directors”

Form 990, Part VI, Section B, Line 15B

“Other management staff's compensation is reviewed and approved annually by ceo and board of directors.”

Form 990, Part VI, Section C, Line 19

“Governing documents are available upon request at cooperative office.”

Filing and Contact Details

Filer

Filer Name
Claiborne Electric Cooperative Inc
EIN
72-0154371
Phone
3189273504
Address
PO Box 719, Homer, LA 71040

Signing Officer

Name
Kathy Tanner
Title
CFO
Signed
2024-08-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Brown
Formed
1938
Legal Domicile
La
Voting Board Members
9
Independent Board Members
9
Employees
81

Preparer

Firm
Knuckols Duvall Hallum & Co
Address
204 S Wellington, Marshall, TX 75670
Preparer
Michael Hallum CPA
Phone
9039380331
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Decrease in Donated Capital and Capital Credit Gains = -$34285”

Form 990, Part XI, Line 9

“Retirement of capital credits = -$116720”

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IRS990/Form990PartVIISectionAGrp/PersonNm10BEN ABSHIRE
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IRS990/Form990PartVIISectionAGrp/PersonNm12HEZ ELKINS
IRS990/Form990PartVIISectionAGrp/PersonNm13SCOTT JONES
IRS990/Form990PartVIISectionAGrp/PersonNm14JODY WOODARD
IRS990/Form990PartVIISectionAGrp/PersonNm15WILLIE SENSLEY
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IRS990/Form990PartVIISectionAGrp/TitleTxt1CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2AREA SERVICEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3FOREMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4AREA SERVICEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5OP & MAINT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt6AREA SERVICEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12President
IRS990/Form990PartVIISectionAGrp/TitleTxt13Secretary/Treas
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/LocalChaptersInd0false
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IRS990/OtherExpensesGrp/ProgramServicesAmt23653016
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IRS990/OtherExpensesGrp/TotalAmt23653016
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED DEBIT-NRECA RS COST ADJUSTMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEFERRED DEBIT-NRECA RS PLAN PREPAYMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DEFERRED DEBIT-REG. ASSET-CLECO
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DEFERRED DEBIT-SERP
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5NON UTILITY PROPERTY
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1594914

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$135,201,019
Liabilities
$113,589,780
Net assets
$21,611,239
Revenue
$66,495,647
Expenses
$69,745,764
Net income
-$3,250,117
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$134$113$21.4$73.5$73.6$0.06
2023Detailed filing. Detailed filing data is available for this year.$135$114$21.6$66.5$69.7$3.25
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$131$106$25.0$65.8$67.6$1.79
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$126$101$25.9$58.4$58.6$0.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$123$96.3$26.6$55.0$55.0$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$117$90.4$26.5$58.7$58.7$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$116$92.4$23.9$61.2$61.2$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$114$91.6$22.3$55.0$55.1$0.14
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$112$89.6$22.6$55.3$55.3$0.00
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$105$84.1$21.4$53.4$53.4$0.00
2014Detailed filing. Detailed filing data is available for this year.$101$79.6$20.9$50.1$50.5$0.43
2013Detailed filing. Detailed filing data is available for this year.$98.9$77.2$21.7$45.9$44.4$1.48
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.5$68.3$20.2$42.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.8$62.3$21.5$41.9
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$77.0$54.4$22.5$40.8