Overview
What is Sequachee Valley Electric Cooperative?
Sequachee Valley Electric Cooperative (SVEC) is a nonprofit rural electric utility based primarily in the southeastern Tennessee counties of Bledsoe, Grundy, Marion, and Sequatchie, with additional members in portions of Van Buren, Rhea, Cumberland, Franklin, Coffee, and Hamilton counties. Their mission is to provide electricity sales to their 38,213 members, and in return, they offer a monthly magazine and newsletter. As a service organization, SVEC focuses on meeting the energy and community needs of its members. Employing a team of 103 individuals, they deliver electricity to enhance the daily lives and wellbeing of residents in their service area.
Official website here: www.svalleyec.com
What are the reviews and ratings of this charity?
Sequachee Valley Electric Cooperative is not currently rated by Charity Navigator. The lack of a rating is primarily due to the Cooperative not being eligible for the evaluation as it is not a 501(c)(3) IRS registered nonprofit. This absence of a rating neither indicates a positive nor negative assessment but simply reflects the limitations in Charity Navigator’s evaluation criteria for certain types of organizations.
The Cooperative's historical ratings were mainly based on what today corresponds to the Accountability and Finance score. As a non-501(c)(3) organization, aspects such as Leadership & Adaptability, Culture & Community, and Impact & Measurement are also not assessed. This points to the Cooperative's independent status and operational autonomy but limits its evaluation under standard nonprofit rating systems.
In terms of user reviews, GreatNonprofits lists no available feedback for the Sequachee Valley Electric Cooperative. Thus, no sentiment from the general public or specific community insights can be presented based on that platform's data.
This AI summary has been generated from information found on Charity Navigator.
Is Sequachee Valley Electric Cooperative legitimate?
Sequachee Valley Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Sequachee Valley 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: $1,056,216
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,204,256
For more financial information, click here
Official website here: www.svalleyec.com
What is the mission statement of Sequachee Valley Electric Cooperative?
The Sequachee Valley Electric Cooperative (SVEC) is dedicated to fulfilling the energy requirements of its members. Their mission goes beyond just selling electricity; they also provide a monthly magazine and newsletter to their customers. SVEC operates as a service organization, catering to the energy and community needs of its members. With a customer base of approximately 38,000 members, the cooperative primarily serves the southeastern Tennessee counties of Bledsoe, Grundy, Marion, and Sequatchie, alongside portions of Van Buren, Rhea, Cumberland, Franklin, Coffee, and Hamilton Counties.
Official website here: www.svalleyec.com
Who is the CEO of Sequachee Valley Electric Cooperative?
Michael Jordan is the Board Chairm of Sequachee Valley Electric Cooperative.
Official website here: www.svalleyec.com
What is the revenue of Sequachee Valley Electric Cooperative?
Sequachee Valley Electric Cooperative's revenue in 2023 was $112,585,937.
Official website here: www.svalleyec.com
Who are the executives of Sequachee Valley Electric Cooperative and what are their salaries?
The average compensation at Sequachee Valley Electric Cooperative during 2023 was $80,199. There are 103 employees at Sequachee Valley Electric Cooperative.
Here are 22 key members and their salaries:
- Compensation: $11,050
- Related: $0
- Other: $0
- Compensation: $7,555
- Related: $0
- Other: $0
- Compensation: $9,770
- Related: $0
- Other: $0
- Compensation: $8,545
- Related: $0
- Other: $0
- Compensation: $7,740
- Related: $0
- Other: $0
- Compensation: $5,160
- Related: $0
- Other: $0
- Compensation: $7,740
- Related: $0
- Other: $0
- Compensation: $7,740
- Related: $0
- Other: $0
- Compensation: $7,265
- Related: $0
- Other: $0
- Compensation: $7,740
- Related: $0
- Other: $0
- Compensation: $9,215
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $272,264
- Related: $0
- Other: $166,473
- Compensation: $203,578
- Related: $0
- Other: $87,601
- Compensation: $115,952
- Related: $0
- Other: $22,042
- Compensation: $186,169
- Related: $0
- Other: $123,866
- Compensation: $207,206
- Related: $0
- Other: $4,372
- Compensation: $137,725
- Related: $0
- Other: $94,560
- Compensation: $131,273
- Related: $0
- Other: $15,203
- Compensation: $136,496
- Related: $0
- Other: $22,408
- Compensation: $143,043
- Related: $0
- Other: $37,064
- Compensation: $103,888
- Related: $0
- Other: $0
Official website here: www.svalleyec.com
Where can I find the form 990 for Sequachee Valley Electric Cooperative?
Sequachee Valley Electric Cooperative's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.svalleyec.com
Learn more at the official website: www.svalleyec.com
Mission Statement of Sequachee Valley Electric Cooperative
Sequachee Valley Electric Cooperative, also known as SVEC, is a mission-driven organization devoted to providing electric sales and essential communications to its members. Located primarily in the southeastern Tennessee counties of Bledsoe, Grundy, Marion, and Sequatchie, SVEC serves a community of 38,213 members.
In simple terms, SVEC's primary role is to ensure that electricity reaches its members' homes and businesses. However, it goes beyond just energy sales. The cooperative takes pride in its commitment to enhancing the community by delivering a monthly magazine and newsletter. By offering this additional service, SVEC aims to foster a stronger sense of connection among its members and keep them informed about the cooperative's initiatives and happenings.
SVEC is more than just a utility provider; it's a service organization that prioritizes meeting the energy and community needs of its member-customers. By focusing on the unique requirements and concerns of rural communities, SVEC successfully addresses the diverse needs of its members. This approach allows SVEC to make a positive impact on the lives of those it serves and contribute to a more sustainable and vibrant community.
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Impact
October, 2024
Sequachee Valley Electric Cooperative plays a vital role in providing essential electricity services to 38,213 members in the southeastern Tennessee region, primarily in Bledsoe, Grundy, Marion, and Sequatchie counties. Its mission centers around ensuring reliable energy distribution, which is crucial for both residential and business needs within these communities.
Through its dedicated efforts, SVEC not only supplies electricity but also fosters a sense of community by offering members a monthly magazine and newsletter, keeping them informed and engaged. By addressing both energy and community needs, the cooperative enhances the quality of life for its members and supports local development.
The organization’s impact extends beyond energy provision; it strengthens community ties and contributes to the overall well-being of its service area. By focusing on its members' needs, SVEC stands as a pillar of support in the regions it serves, ensuring that residents have access to reliable electricity and vital information.
This information is meant to be a general summary of Sequachee Valley 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 2023.
- Investment Income: $429,994
- Program Service Revenue: $112,006,272
- Gross Receipts: $112,588,354
Assets and Liabilities:
- Total Assets: $171,194,164
- Total Liabilities: $61,392,830
- Net Assets: $109,801,334
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ELECTRIC SERVICE REVENUE
Revenue
$103,212,950
SERVICE REVENUE - SV CONNECT
Revenue
$6,955,282
POLE RENTAL INCOME
Revenue
$1,823,040
LEASE OF FIBER
Revenue
$15,000
Organization Details
Founding Year
1939
Phone
(423) 837-8605Principal Officer
Michael Jordan
Main Address
PO BOX 31, SOUTH PITTSBURG, TN, 37380
Website
www.svalleyec.comNTEE Category
Code: W80 - Public benefit
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