Overview
What is Choctaw Electric Cooperative Inc?
Choctaw Electric Cooperative Inc is a nonprofit organization headquartered in Hugo, Oklahoma. With a team of 71 dedicated employees, they are committed to providing reliable, safe, and affordable electric energy to their members on a cooperative basis. They allocate patronage capital, ensuring cost-effectiveness. In total, there were 20,934 active services at the end of the year. Their mission is centered around delivering essential energy services to the community they serve.
Official website here: www.choctawelectric.net
What are the reviews and ratings of this charity?
Choctaw Electric Cooperative Inc is not currently rated by Charity Navigator. As a non-501(c)(3) organization, it falls outside the evaluation scope of Charity Navigator, which primarily assesses registered 501(c)(3) nonprofits. This absence of a rating does not imply a judgment on the organization's operations but reflects its nonprofit classification and available data constraints.
Given its independent status and lack of revenue and expense data, insights into Choctaw Electric Cooperative's financial health or operational transparency are limited. The organization’s foundation status further delineates it from traditional nonprofits typically evaluated by these metrics.
No user reviews from GreatNonprofits are available for Choctaw Electric Cooperative Inc, providing no additional public feedback on its services or reputation. Without these evaluations or reviews, potential stakeholders may need to rely on alternative information sources to assess the cooperative's impact or community presence.
This AI summary has been generated from information found on Charity Navigator.
Is Choctaw Electric Cooperative Inc legitimate?
Choctaw Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Choctaw Electric Cooperative Inc 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: $408,139
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,290,622
For more financial information, click here
Official website here: www.choctawelectric.net
What is the mission statement of Choctaw Electric Cooperative Inc?
Choctaw Electric Cooperative Inc is dedicated to delivering reliable, safe, and affordable energy services to the members it serves. The cooperative's primary goal is to provide electric energy at a cost basis, with profits allocated as patronage capital. At the end of the year, there were 20,934 active services being provided. The cooperative strives to ensure a consistent energy supply and maintains safety standards, making it a trusted energy provider for its members. By offering cooperative energy services, Choctaw Electric Cooperative Inc aims to foster a sense of community and commitment among its members.
Official website here: www.choctawelectric.net
Who is the CEO of Choctaw Electric Cooperative Inc?
Kooney Duncan is the Trustee of Choctaw Electric Cooperative Inc. The CEO's salary of Choctaw Electric Cooperative Inc is $197,163 and their total compensation is $351,489.
Official website here: www.choctawelectric.net
What is the revenue of Choctaw Electric Cooperative Inc?
Choctaw Electric Cooperative Inc's revenue in 2022 was $62,989,544.
Official website here: www.choctawelectric.net
Who are the executives of Choctaw Electric Cooperative Inc and what are their salaries?
The average compensation at Choctaw Electric Cooperative Inc during 2022 was $52,095. There are 71 employees at Choctaw Electric Cooperative Inc.
Here are 12 key members and their salaries (Choctaw Electric Cooperative Inc's CEO's salary is $197,163 and their total compensation is $351,489):
- Compensation: $6,750
- Related: $0
- Other: $0
- Compensation: $2,200
- Related: $0
- Other: $0
- Compensation: $7,150
- Related: $0
- Other: $0
- Compensation: $6,800
- Related: $0
- Other: $0
- Compensation: $6,700
- Related: $0
- Other: $0
- Compensation: $6,150
- Related: $0
- Other: $0
- Compensation: $7,850
- Related: $0
- Other: $0
- Compensation: $5,500
- Related: $0
- Other: $0
- Compensation: $7,550
- Related: $0
- Other: $0
- Compensation: $197,163
- Related: $0
- Other: $154,326
- Compensation: $100,376
- Related: $0
- Other: $61,228
- Compensation: $100,119
- Related: $0
- Other: $46,522
Official website here: www.choctawelectric.net
Where can I find the form 990 for Choctaw Electric Cooperative Inc?
Choctaw Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.choctawelectric.net
Learn more at the official website: www.choctawelectric.net
Mission Statement of Choctaw Electric Cooperative Inc
Choctaw Electric Cooperative Inc, a dedicated energy provider, strives to deliver reliable, safe, and affordable energy services to the community it serves. The cooperative's primary mission is to ensure a consistent energy supply for its members, ensuring their safety and well-being through uninterrupted power. With a strong commitment to affordability, Choctaw Electric Cooperative Inc offers electricity at reasonable costs, allowing its members to manage their energy expenses effectively.
Serving as a cooperative, Choctaw Electric Cooperative Inc goes beyond the typical energy provider role. By allocating patronage capital, the cooperative returns profits to its members, making it a unique and member-centric organization. At the end of the year, the cooperative catered to 20,934 active services, reflecting its extensive reach and impact within the community. The cooperative's unwavering dedication to providing reliable, safe, and affordable energy services has made it a trusted energy partner for its members.
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Impact
October, 2024
Choctaw Electric Cooperative Inc significantly enhances the quality of life for its members in Hugo, Oklahoma, by delivering reliable, safe, and affordable energy services. With a focus on providing electric energy on a cooperative basis, the organization ensures that its 20,934 active services benefit from access to electricity at cost through the allocation of patronage capital. This cooperative model not only prioritizes affordability but also fosters a sense of community, empowering its members and promoting local economic growth. Additionally, the commitment to safety and reliability reinforces the cooperative's role as a vital resource for the residents it serves, contributing to a stable and sustainable energy future for the region.
This information is meant to be a general summary of Choctaw Electric Cooperative Inc. 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: $176,591
- Program Service Revenue: $62,756,412
- Gross Receipts: $63,001,007
Assets and Liabilities:
- Total Assets: $143,071,795
- Total Liabilities: $61,031,108
- Net Assets: $82,040,687
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF ELECTRICITY
Revenue
$60,945,539
PATRONAGE DIVIDENDS
Revenue
$1,274,861
SERVICE FEES
Revenue
$532,716
OTHER PROGRAM REVENUE
Revenue
$3,296
Organization Details
Founding Year
1940
Phone
(580) 326-6486Principal Officer
Kooney Duncan
Main Address
PO BOX 758, HUGO, OK, 74743
Website
www.choctawelectric.netNTEE Category
Code: W50 - Public benefit
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