Overview
What is Franklin Rural Electric Cooperative?
Franklin Rural Electric Cooperative is a nonprofit organization situated in Hampton, Iowa. With approximately 1,444 members, they specialize in selling energy and related services. Their primary mission is to ensure the delivery of reliable and affordable electricity to their member base. This cooperative employs a team of 17 individuals, dedicated to serving their community.
Official website here: www.franklinrec.coop
Is Franklin Rural Electric Cooperative legitimate?
Franklin Rural Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Franklin Rural Electric Cooperative submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $404,818
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.franklinrec.coop
What is the mission statement of Franklin Rural Electric Cooperative?
Franklin Rural Electric Cooperative's mission is centered around providing its members with reliable and affordable electricity. This mission is carried out through the sale of energy and related services. The cooperative serves approximately 1,444 members, prioritizing affordability and reliability in their electrical supply.
Official website here: www.franklinrec.coop
Who is the CEO of Franklin Rural Electric Cooperative?
Garrett Thompson is the Board President of Franklin Rural Electric Cooperative.
Official website here: www.franklinrec.coop
What is the revenue of Franklin Rural Electric Cooperative?
Franklin Rural Electric Cooperative's revenue in 2022 was $8,423,010.
Official website here: www.franklinrec.coop
Who are the executives of Franklin Rural Electric Cooperative and what are their salaries?
The average compensation at Franklin Rural Electric Cooperative during 2022 was $23,813. There are 17 employees at Franklin Rural Electric Cooperative.
Here are 9 key members and their salaries:
- Compensation: $6,440
- Related: $0
- Other: $0
- Compensation: $6,195
- Related: $0
- Other: $0
- Compensation: $4,515
- Related: $0
- Other: $0
- Compensation: $5,145
- Related: $0
- Other: $0
- Compensation: $3,675
- Related: $0
- Other: $0
- Compensation: $3,880
- Related: $0
- Other: $0
- Compensation: $4,725
- Related: $0
- Other: $0
- Compensation: $117,170
- Related: $0
- Other: $47,575
- Compensation: $83,089
- Related: $0
- Other: $122,409
Official website here: www.franklinrec.coop
Where can I find the form 990 for Franklin Rural Electric Cooperative?
Franklin Rural Electric Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.franklinrec.coop
Learn more at the official website: www.franklinrec.coop
Mission Statement of Franklin Rural Electric Cooperative
Franklin Rural Electric Cooperative, as a dedicated organization, is committed to providing its members with reliable and affordable electricity. This mission is at the heart of their activities and operations. By selling energy and related services, the cooperative strives to cater to the needs of approximately 1,444 members, ensuring they have access to essential electric power. The cooperative's mission is not just about supplying electricity; it's about delivering a service that is both reliable and affordable, making a significant difference in the lives of its members.
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Impact
October, 2024
Franklin Rural Electric Cooperative significantly impacts the Hampton, Iowa community by delivering reliable and affordable electricity to approximately 1,444 members. By ensuring a steady supply of energy and related services, the cooperative fosters economic stability and growth in the area. Their commitment to providing essential power services enhances the quality of life for residents and supports local businesses, contributing to a stronger community overall. Through their efforts, they promote energy accessibility, helping to maintain a vibrant and sustainable environment for all members.
This information is meant to be a general summary of Franklin Rural Electric Cooperative. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $43,506
- Program Service Revenue: $7,468,479
- Gross Receipts: $8,453,405
Assets and Liabilities:
- Total Assets: $20,255,882
- Total Liabilities: $11,305,007
- Net Assets: $8,950,875
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE OF POWER
Revenue
$7,468,479
Organization Details
Founding Year
1936
Phone
(641) 456-2557Principal Officer
Garrett Thompson
Main Address
PO BOX 437, HAMPTON, IA, 50441
Website
www.franklinrec.coopNTEE Category
Code: W80 - Public benefit
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