Overview
What is Franklin Electric Cooperative?
Franklin Electric Cooperative, located in Russellville, Alabama, is a nonprofit organization dedicated to the distribution of electricity in rural areas. Their operations encompass both electric utility cooperatives and public utilities, ensuring reliable power supply to underserved communities. The cooperative's primary objective is to bring electricity to rural areas, contributing significantly to the development and quality of life in these regions.
Is Franklin Electric Cooperative legitimate?
Franklin Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Franklin 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $286,080
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What is the mission statement of Franklin Electric Cooperative?
The Franklin Electric Cooperative, as a mission-driven entity, is dedicated to supplying rural electricity distribution. Their programs encompass both electric utility cooperative and public utilities operations. The cooperative's goal is to ensure reliable and sustainable energy solutions for its community, contributing to the overall development and well-being of the regional population.
Who is the CEO of Franklin Electric Cooperative?
Mark Stockton is the General Mana of Franklin Electric Cooperative.
What is the revenue of Franklin Electric Cooperative?
Franklin Electric Cooperative's revenue in 2023 was $9,985,158.
Who are the executives of Franklin Electric Cooperative and what are their salaries?
The average compensation at Franklin Electric Cooperative during 2023 was $11,920. There are 24 employees at Franklin Electric Cooperative.
Here are 10 key members and their salaries:
- Compensation: $182,756
- Related: $0
- Other: $0
- Compensation: $8,390
- Related: $0
- Other: $0
- Compensation: $8,390
- Related: $0
- Other: $0
- Compensation: $8,320
- Related: $0
- Other: $0
- Compensation: $8,300
- Related: $0
- Other: $0
- Compensation: $8,300
- Related: $0
- Other: $0
- Compensation: $8,300
- Related: $0
- Other: $0
- Compensation: $8,100
- Related: $0
- Other: $0
- Compensation: $7,800
- Related: $0
- Other: $0
- Compensation: $7,200
- Related: $0
- Other: $0
Where can I find the form 990 for Franklin Electric Cooperative?
Franklin Electric Cooperative's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Franklin Electric Cooperative
Franklin Electric Cooperative, as a mission-driven organization, is dedicated to the distribution of electricity in rural areas. This electric utility cooperative, based on its mission statement, seeks to provide reliable and sustainable electrical services to its community, with a focus on rural settings. The cooperative's programs encompass both electric utility cooperative operations and public utilities, ensuring that it caters to the diverse electrical needs of its clientele. The cooperative's mission is essential in bridging the gap in electricity access in rural areas, thereby contributing to the overall development and progress of these communities.
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Impact
October, 2024
Franklin Electric Cooperative plays a crucial role in enhancing the quality of life in its service area by providing reliable electricity distribution to rural communities in Russellville, AL. By focusing on rural electricity distribution, the cooperative ensures that residents and businesses in less populated areas have access to essential electrical services, fostering economic development and improving living conditions.
The cooperative's programs are designed to meet the specific needs of rural residents, offering public utility services that promote energy access and affordability. This commitment not only supports daily living but also enables growth opportunities for local businesses, contributing to the overall economic vitality of the region. Through its focus on public benefit, Franklin Electric Cooperative directly impacts the well-being of its members, empowering them with the reliable energy necessary for modern life.
This information is meant to be a general summary of Franklin 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: $110,605
- Program Service Revenue: $9,874,553
- Gross Receipts: $9,985,158
Assets and Liabilities:
- Total Assets: $54,446,867
- Total Liabilities: $27,055,697
- Net Assets: $27,391,170
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET OF POWER PURCHASED
Revenue
$9,874,553
Organization Details
Founding Year
1945
Phone
(256) 332-2730Principal Officer
Mark Stockton
Main Address
PO BOX 10, RUSSELLVILLE, AL, 356530010
NTEE Category
Code: W80 - Public benefit
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