Overview
What is Rappahannock Electric Cooperative?
Rappahannock Electric Cooperative is a nonprofit organization headquartered at 247 Industrial Court, Fredericksburg, Virginia, 22408. With a team of 498 employees, they are dedicated to delivering safe and dependable electric power to their cooperative members in the area. Their primary focus is on the efficient and effective distribution of electricity. The organization's largest program expenditures include the cost of power, salaries and wages, and depreciation.
Official website here: www.myrec.coop
Is Rappahannock Electric Cooperative legitimate?
Rappahannock Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Rappahannock 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: $3,564,528
Professional Fundraising Fees: $0
Other Salaries and Wages: $48,257,083
For more financial information, click here
Official website here: www.myrec.coop
What is the mission statement of Rappahannock Electric Cooperative?
Rappahannock Electric Cooperative is dedicated to delivering safe and effective electricity to its members. This cooperative prioritizes the secure transmission of power to ensure the satisfaction and convenience of its community. The three largest areas of investment for this organization are the cost of power, salaries and wages, and depreciation. By focusing on these aspects, Rappahannock Electric Cooperative ensures reliable electricity services for its members.
Official website here: www.myrec.coop
Who is the CEO of Rappahannock Electric Cooperative?
John D Hewa is the President & of Rappahannock Electric Cooperative.
Official website here: www.myrec.coop
What is the revenue of Rappahannock Electric Cooperative?
Rappahannock Electric Cooperative's revenue in 2022 was $493,777,612.
Official website here: www.myrec.coop
Who are the executives of Rappahannock Electric Cooperative and what are their salaries?
The average compensation at Rappahannock Electric Cooperative during 2022 was $104,059. There are 498 employees at Rappahannock Electric Cooperative.
Here are 22 key members and their salaries:
- Compensation: $741,416
- Related: $0
- Other: $94,305
- Compensation: $379,522
- Related: $50,000
- Other: $93,918
- Compensation: $350,095
- Related: $0
- Other: $94,305
- Compensation: $330,200
- Related: $0
- Other: $94,305
- Compensation: $323,091
- Related: $0
- Other: $76,804
- Compensation: $273,391
- Related: $0
- Other: $67,515
- Compensation: $264,633
- Related: $0
- Other: $75,290
- Compensation: $255,854
- Related: $0
- Other: $70,639
- Compensation: $261,215
- Related: $0
- Other: $54,768
- Compensation: $246,837
- Related: $0
- Other: $55,538
- Compensation: $222,051
- Related: $0
- Other: $66,419
- Compensation: $144,756
- Related: $0
- Other: $49,419
- Compensation: $174,133
- Related: $0
- Other: $7,089
- Compensation: $40,750
- Related: $0
- Other: $0
- Compensation: $39,100
- Related: $0
- Other: $0
- Compensation: $36,000
- Related: $0
- Other: $0
- Compensation: $36,000
- Related: $0
- Other: $0
- Compensation: $35,400
- Related: $0
- Other: $0
- Compensation: $35,000
- Related: $0
- Other: $0
- Compensation: $34,150
- Related: $0
- Other: $0
- Compensation: $33,950
- Related: $0
- Other: $0
- Compensation: $32,350
- Related: $0
- Other: $0
Official website here: www.myrec.coop
Where can I find the form 990 for Rappahannock Electric Cooperative?
Rappahannock Electric Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.myrec.coop
Learn more at the official website: www.myrec.coop
Mission Statement of Rappahannock Electric Cooperative
Rappahannock Electric Cooperative, a dedicated organization, is committed to delivering safe and effective electricity to its members. Its primary mission revolves around ensuring the reliable transmission of power to each household and business connected to its network.
With a focus on safety and efficiency, Rappahannock Electric Cooperative puts in great effort to maintain its power infrastructure. The cooperative's operations are extensive, with the three largest program services, as outlined by expenses, being the cost of power, other salaries and wages, and depreciation. This significant investment in the provision of electricity demonstrates the cooperative's unwavering commitment to its members.
The cost of power refers to the expenses incurred in procuring the electricity that is ultimately distributed. Other salaries and wages reflect the cooperative's investment in its workforce, ensuring that qualified and skilled personnel maintain and enhance the electrical infrastructure. Lastly, depreciation represents the decrease in value of the cooperative's assets over time, such as power lines, transformers, and other equipment.
In summary, Rappahannock Electric Cooperative is a mission-driven organization that prioritizes the safe and effective delivery of electricity to its members. Its dedication to maintaining its infrastructure and investing in its workforce allows it to provide a reliable and consistent power supply.
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Impact
October, 2024
Rappahannock Electric Cooperative plays a crucial role in ensuring the safe and effective distribution of electricity to its members in Virginia. By focusing on reliable power delivery, the cooperative enhances the quality of life for individuals and businesses in the region. Its core mission emphasizes the importance of consistent energy availability, which is vital for daily activities and economic development.
The cooperative's significant investments in services, including the cost of power and operational expenses, underscore its commitment to maintaining and improving infrastructure. This attention to reliability not only supports residential and commercial needs but also contributes to local job creation and community growth. Through its operations, Rappahannock Electric Cooperative fosters economic stability and supports public benefit initiatives, making a positive impact on the overall quality of life for its members.
This information is meant to be a general summary of Rappahannock 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: $660,109
- Program Service Revenue: $490,374,060
- Gross Receipts: $495,297,376
Assets and Liabilities:
- Total Assets: $1,122,357,083
- Total Liabilities: $687,582,267
- Net Assets: $434,774,816
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF ELECTRIC ENERGY
Revenue
$477,737,800
CONTRIB IN AID OF CONSTR
Revenue
$6,895,204
PATRONAGE ALLOCATIONS REC
Revenue
$3,417,890
OTHER ELECTRIC REVENUE
Revenue
$2,323,166
Organization Details
Founding Year
1980
Principal Officer
John D Hewa
Main Address
247 INDUSTRIAL CT, FREDERICKSBURG, VA, 22408
Website
www.myrec.coopNTEE Category
Code: W80 - Public benefit
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