Overview
What is Clay-Union Electric Corporation?
Clay-Union Electric Corporation is a nonprofit organization based in Vermillion, South Dakota. With a postal address of PO Box 317, this entity primarily focuses on providing electricity to rural communities. It serves approximately 2,904 members and is dedicated to ensuring that the electric service it provides is safe, reliable, and affordable for its members now and into the future. As part of its operations, the corporation has retired 18 miles of overhead lines and 3 miles of underground lines while simultaneously adding 28 miles of underground lines. The organization is staffed by 17 employees.
Official website here: www.clayunionelectric.coop
Is Clay-Union Electric Corporation legitimate?
Clay-Union Electric Corporation is a legitimate nonprofit organization registered as a 501(c)(12) entity. Clay-Union Electric Corporation 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: $225,330
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,227,512
For more financial information, click here
Official website here: www.clayunionelectric.coop
What is the mission statement of Clay-Union Electric Corporation?
Clay-Union Electric Corporation's mission is centered around providing electricity to rural communities. Specifically, their objective is to deliver safe, reliable, and affordable electric service to their members, ensuring this continuity well into the future. The corporation has served around 2,904 members, demonstrating its commitment to rural electricity provision. In addition, they have undertaken infrastructure improvements, retiring 18 miles of overhead lines and 3 miles of underground lines, while also expanding their underground line network by 28 miles.
Official website here: www.clayunionelectric.coop
Who is the CEO of Clay-Union Electric Corporation?
Christopher Larson is the Vice President of Clay-Union Electric Corporation.
Official website here: www.clayunionelectric.coop
What is the revenue of Clay-Union Electric Corporation?
Clay-Union Electric Corporation's revenue in 2022 was $9,543,341.
Official website here: www.clayunionelectric.coop
Who are the executives of Clay-Union Electric Corporation and what are their salaries?
The average compensation at Clay-Union Electric Corporation during 2022 was $85,461. There are 17 employees at Clay-Union Electric Corporation.
Here are 7 key members and their salaries:
- Compensation: $6,095
- Related: $0
- Other: $0
- Compensation: $7,276
- Related: $0
- Other: $0
- Compensation: $6,677
- Related: $0
- Other: $0
- Compensation: $8,420
- Related: $0
- Other: $0
- Compensation: $4,845
- Related: $0
- Other: $0
- Compensation: $131,701
- Related: $0
- Other: $124,777
- Compensation: $102,350
- Related: $0
- Other: $37,444
Official website here: www.clayunionelectric.coop
Where can I find the form 990 for Clay-Union Electric Corporation?
Clay-Union Electric Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.clayunionelectric.coop
Learn more at the official website: www.clayunionelectric.coop
Mission Statement of Clay-Union Electric Corporation
Clay-Union Electric Corporation, a prominent entity, is committed to providing electricity to rural communities. Their primary mission is to ensure the delivery of safe, reliable, and affordable electric service to their members, both now and in the future. This mission is geared towards meeting the energy needs of approximately 2,904 members, ensuring they have a steady power supply to support their daily lives.
To achieve this mission, Clay-Union Electric Corporation has undertaken various initiatives. This includes retiring 18 miles of overhead lines and 3 miles of underground lines, as well as adding 28 miles of underground lines. These actions demonstrate their dedication to maintaining and improving their infrastructure, ensuring a consistent and reliable supply of electricity to their members. By doing so, they are able to contribute to the quality of life in these rural communities, supporting various activities and services that rely on a reliable power source.
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Impact
October, 2024
Clay-Union Electric Corporation plays a vital role in enhancing the quality of life for rural communities by delivering safe, reliable, and affordable electricity to its members. Serving approximately 2,904 members, the organization has made significant infrastructural improvements, including the retirement of 18 miles of overhead power lines and 3 miles of underground lines, while also adding 28 miles of new underground lines. This commitment to upgrading and maintaining electrical infrastructure not only ensures a consistent power supply but also supports the development and sustainability of rural areas in Vermillion, SD, and surrounding regions. The mission emphasizes long-term reliability and safety, ensuring that members have access to essential services that foster economic growth and community well-being.
This information is meant to be a general summary of Clay-Union Electric Corporation. 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: $98,673
- Program Service Revenue: $9,417,091
- Gross Receipts: $9,928,891
Assets and Liabilities:
- Total Assets: $40,338,882
- Total Liabilities: $22,895,871
- Net Assets: $17,443,011
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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
$8,713,576
CAPITAL CREDITS
Revenue
$703,515
Organization Details
Founding Year
1935
Phone
(605) 624-2673Principal Officer
Christopher Larson
Main Address
PO BOX 317, VERMILLION, SD, 57069
Website
www.clayunionelectric.coopNTEE Category
Code: W80 - Public benefit
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