Carteret-craven Electric Cooperative
501(c)(12)
Strong reserves
Carteret-craven Electric Cooperative is a 501(c)(12) organization based in Newport, North Carolina, registered in 1961, with $75,188,403 in FY2024 revenue.
Po Box 1490, Newport, NC, 28570 EIN 56-0168825 Since 1961
Revenue (FY2024)
$75.2M
▲ 3.8% vs prior year
Expenses (FY2024)
$71.1M
Net assets
$67.5M
Employees
82
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Carteret-craven Electric Cooperative— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating11 mo reserves · +5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Carteret-craven Electric Cooperative: 11 mo reserves · +5% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Carteret-craven Electric Cooperative: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Carteret-craven Electric Cooperative: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Distribution of electricity to the membership of carteret-craven electric cooperative
Contact & location
- Address
- Po Box 1490, Newport, NC, 28570
- City
- Newport
- State
- North Carolina
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $64.3M (FY2013) to $75.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $73.4MNet assets $67.5M
Operating margin
5.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$140.8M
Total liabilities
$73.4M
Net assets
$67.5M
Salaries & benefits
$8.6M
12% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $75,188,403▲3.8% | $71,135,832▲4.0% | $67,480,860▲1.5% | $140,843,073▲4.9% | 990 |
| 2023 | $72,417,120▲3.3% | $68,415,516▲2.2% | $66,491,215▼0.2% | $134,267,975▲1.5% | 990 |
| 2022 | $70,087,411▲0.6% | $66,951,412▲5.2% | $66,651,781▼1.0% | $132,224,479▼3.7% | 990 |
| 2021 | $69,642,731▼1.9% | $63,628,368▼3.0% | $67,322,380▲3.5% | $137,343,864▲0.7% | 990 |
| 2020 | $70,996,772▼9.9% | $65,600,143▼11.0% | $65,039,698▼0.1% | $136,390,442▲2.8% | 990 |
| 2019 | $78,765,884▲8.6% | $73,724,323▲12.8% | $65,088,217▲5.4% | $132,668,457▼1.4% | 990 |
| 2018 | $72,525,227▲9.3% | $65,354,214▲7.2% | $61,743,825▲7.3% | $134,502,263▲4.5% | 990 |
| 2017 | $66,361,608▲0.4% | $60,979,950▲2.6% | $57,529,640▲0.3% | $128,695,843▼1.1% | 990 |
| 2016 | $66,089,824▼3.0% | $59,443,898▼4.2% | $57,382,282▲4.7% | $130,185,613▲4.7% | 990 |
| 2015 | $68,111,406▲0.7% | $62,061,910▼1.1% | $54,820,687▲5.6% | $124,326,103▲6.2% | 990 |
| 2014 | $67,624,587▲5.1% | $62,721,682▲4.2% | $51,921,455▲6.2% | $117,084,106▲0.1% | 990 |
| 2013 | $64,340,391 | $60,170,181▲0.3% | $48,893,897▲6.1% | $116,916,137▲7.9% | 990 |
| 2012 | — | $59,990,704▼3.4% | $46,069,629▲5.4% | $108,349,014▲3.2% | 990 |
| 2011 | — | $62,101,795▼2.5% | $43,707,459▲3.9% | $105,034,129▲0.6% | 990 |
| 2010 | — | $63,671,611 | $42,082,469 | $104,451,737 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Jake Joplin — $329,765 (0.46% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jake Joplin | Ceo | 45 | $329,765 |
| Will Pittman | Vp of Engineering | 45 | $181,030 |
| Cheryl Slater | Vp of Customer Services | 45 | $162,007 |
| Rex Larowe | Director of Engineering | 45 | $143,492 |
| Tara Alderman | Vp of Finance & Accounting | 45 | $140,770 |
| Michael Dowle Smith | Line/service Technician | 48.76 | $138,123 |
| Rodney B Williams | Line Crew Leader | 44.07 | $135,197 |
| Deloria Y Irby | Director | 6.6 | $19,300 |
| Amy L Lock | President | 4.8 | $18,050 |
| Ben S Ball | Treasurer | 2.7 | $16,700 |
| Douglas S Fulcher | Assistant Treasurer | 5.3 | $16,400 |
| Anthony Nelson | Director | 4.3 | $16,100 |
| James Schmitt | Vice President | 4.7 | $16,075 |
| Alvin West | Secretary | 5.5 | $14,300 |
| Thom Styron | Assistant Secretary | 1.8 | $13,800 |
| William Fred Fulcher | Director | 2.8 | $13,300 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| C Phase Services | Utility Construction(transmission/distribution) | $2,418,427 |
| Xylem Tree Experts | Right of Way Tree Trimming | $1,509,087 |
| Trc Engineers Inc | Engineering Services For Pole Attachments | $440,985 |
| Sunbelt Solomon Services LLC | Transformer Sales, Testing, Repair, Maintenance | $351,862 |
| Dw Hill Inc | Boring Services | $300,842 |
Grants received · $83K total
8 grants to Carteret-craven Electric Cooperative totaling $83K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| North Carolina Electric Membership Corporation | Educational assistance | 2024 | $10,086 |
| North Carolina Electric Membership Corporation | Educational assistance | 2023 | $10,086 |
| North Carolina Electric Membership Corporation | Educational assistance | 2022 | $10,086 |
| North Carolina Electric Membership Corporation | Educational assistance | 2021 | $9,316 |
| North Carolina Electric Membership Corporation | Educational assistance | 2020 | $9,316 |
| North Carolina Electric Membership Corporation | Educational assistance | 2019 | $9,316 |
| North Carolina Electric Membership Corporation | Educational assistance | 2018 | $15,000 |
| North Carolina Electric Membership Corporation | Educational assistance | 2017 | $9,316 |
Frequently asked questions
- Is Carteret-craven Electric Cooperative a legitimate nonprofit?
- Yes. Carteret-craven Electric Cooperative is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 56-0168825, based in Newport, North Carolina.
- What is Carteret-craven Electric Cooperative's EIN?
- Carteret-craven Electric Cooperative's Employer Identification Number (EIN) is 56-0168825.
- How much revenue does Carteret-craven Electric Cooperative report?
- Carteret-craven Electric Cooperative reported $75,188,403 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Carteret-craven Electric Cooperative's highest-paid employee make?
- The highest reported compensation on Carteret-craven Electric Cooperative's latest Form 990 is $329,765, paid to Jake Joplin (Ceo).
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Data for Carteret-craven Electric Cooperative (EIN 56-0168825) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.