Overview
What is Farmers Electric Cooperative Inc?
Farmers Electric Cooperative Inc, based in Greenville, Texas, is a nonprofit organization dedicated to providing electric energy to its member-owners on a cooperative basis. With a workforce of 191 employees, they allocate patronage capital to ensure quality electric service at reasonable costs. Their mission encompasses delivering electricity to their members efficiently and effectively, as stated in their 88,070 active services at year end.
Official website here: www.farmerselectric.coop
What are the reviews and ratings of this charity?
Farmers Electric Cooperative Inc is not currently rated by Charity Navigator due to its status as a non-501(c)(3) entity. Charity Navigator's evaluations typically require nonprofits to have an Accountability & Finance beacon or an Impact & Measurement beacon for a formal rating, which Farmers Electric Cooperative does not possess. Thus, the lack of rating does not inherently suggest a negative or positive status.
Historically, evaluations reflected an Accountability and Finance score model, but Farmers Electric Cooperative cannot be assessed under this method even historically since it does not fall under the 501(c)(3) category. Thus, meaningful financial data, such as total revenue, expenses, and salaries, remain unavailable for this organization through Charity Navigator.
No user reviews are available from GreatNonprofits, limiting the external qualitative data on Farmers Electric Cooperative. The absence of user feedback does not provide insights into the cooperative's direct community impact or member sentiments.
This AI summary has been generated from information found on Charity Navigator.
Is Farmers Electric Cooperative Inc legitimate?
Farmers Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Farmers 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: $4,742,547
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,248,002
For more financial information, click here
Official website here: www.farmerselectric.coop
What is the mission statement of Farmers Electric Cooperative Inc?
Farmers Electric Cooperative Inc is dedicated to delivering quality electric service to its member-owners at a reasonable cost. They allocate patronage capital on a cooperative basis to provide electric energy to their members. With over 88,000 active services, the cooperative prioritizes supplying reliable and affordable electric power to its community. Their mission underscores the commitment to maintaining a cooperative business model, ensuring that the needs of the members are met in an equitable manner.
Official website here: www.farmerselectric.coop
Who is the CEO of Farmers Electric Cooperative Inc?
Mark Stubbs is the CEO of Farmers Electric Cooperative Inc The CEO's salary of Farmers Electric Cooperative Inc is $662,418 and their total compensation is $843,342.
Official website here: www.farmerselectric.coop
What is the revenue of Farmers Electric Cooperative Inc?
Farmers Electric Cooperative Inc's revenue in 2023 was $205,067,907.
Official website here: www.farmerselectric.coop
Who are the executives of Farmers Electric Cooperative Inc and what are their salaries?
The average compensation at Farmers Electric Cooperative Inc during 2023 was $62,455. There are 208 employees at Farmers Electric Cooperative Inc.
Here are 27 key members and their salaries (Farmers Electric Cooperative Inc's CEO's salary is $662,418 and their total compensation is $843,342):
- Compensation: $26,007
- Related: $0
- Other: $0
- Compensation: $28,465
- Related: $0
- Other: $0
- Compensation: $26,993
- Related: $0
- Other: $0
- Compensation: $31,142
- Related: $0
- Other: $0
- Compensation: $25,873
- Related: $0
- Other: $0
- Compensation: $28,229
- Related: $0
- Other: $0
- Compensation: $26,007
- Related: $0
- Other: $0
- Compensation: $28,479
- Related: $0
- Other: $0
- Compensation: $30,083
- Related: $0
- Other: $0
- Compensation: $662,418
- Related: $0
- Other: $180,924
- Compensation: $300,358
- Related: $0
- Other: $122,800
- Compensation: $367,166
- Related: $0
- Other: $91,139
- Compensation: $366,131
- Related: $0
- Other: $123,979
- Compensation: $298,423
- Related: $0
- Other: $109,553
- Compensation: $199,617
- Related: $0
- Other: $63,065
- Compensation: $187,392
- Related: $0
- Other: $85,666
- Compensation: $172,613
- Related: $0
- Other: $62,232
- Compensation: $162,563
- Related: $0
- Other: $71,965
- Compensation: $161,783
- Related: $0
- Other: $79,229
- Compensation: $158,164
- Related: $0
- Other: $41,248
- Compensation: $158,156
- Related: $0
- Other: $61,836
- Compensation: $156,787
- Related: $0
- Other: $46,062
- Compensation: $146,732
- Related: $0
- Other: $58,870
- Compensation: $140,877
- Related: $0
- Other: $35,116
- Compensation: $140,619
- Related: $0
- Other: $46,126
- Compensation: $136,081
- Related: $0
- Other: $68,436
- Compensation: $135,888
- Related: $0
- Other: $41,278
Official website here: www.farmerselectric.coop
Where can I find the form 990 for Farmers Electric Cooperative Inc?
Farmers Electric Cooperative Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.farmerselectric.coop
Learn more at the official website: www.farmerselectric.coop
Mission Statement of Farmers Electric Cooperative Inc
Farmers Electric Cooperative Inc, a mission-driven organization, strives to deliver top-notch electric services to its member-owners at reasonable costs. By focusing on cooperative principles, the cooperative goes beyond just providing electricity, allocating patronage capital to enhance the overall value for its members.
With a strong commitment to quality, Farmers Electric Cooperative Inc serves approximately 88,070 active services, ensuring a reliable source of electricity that powers homes and businesses. The cooperative's dedication extends beyond the power lines, working to keep costs reasonable and accessible for its member-owners.
As a cooperative, Farmers Electric Cooperative Inc is more than just a utility company. It's a community-focused organization that prioritizes the well-being of its members. By staying true to its mission, the cooperative not only delivers essential electric services but also fosters a strong sense of partnership and collaboration among its members.
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Impact
October, 2024
Farmers Electric Cooperative Inc plays a significant role in delivering quality electric service to its member-owners, ensuring access to reliable energy at reasonable costs. With a focus on cooperative principles, it fosters a sense of community among its 88,070 active services, contributing to the economic stability and growth of Greenville, TX, and surrounding areas. By allocating patronage capital, the cooperative supports its members directly, empowering them with ownership stakes in the energy services they utilize. This model not only enhances energy access but also promotes transparency, accountability, and member engagement, thus reinforcing the cooperative ethos that values collective benefit and public welfare.
This information is meant to be a general summary of Farmers 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 2023.
- Investment Income: $200,724
- Program Service Revenue: $203,936,861
- Gross Receipts: $205,060,128
Assets and Liabilities:
- Total Assets: $432,838,169
- Total Liabilities: $244,494,947
- Net Assets: $188,343,222
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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
$175,413,421
SERVICE FEES
Revenue
$18,585,948
PATRONAGE DIVIDENDS
Revenue
$8,258,223
OTHER PROGRAM REVENUE
Revenue
$919,650
TRANSMISSION WHEELING
Revenue
$759,619
Organization Details
Founding Year
1937
Principal Officer
Mark Stubbs
Website
www.farmerselectric.coopNTEE Category
Code: W80 - Public benefit
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