Clay Electric Cooperative Inc
100% goes to programs Strong reserves Growing revenue
Clay Electric Cooperative Inc is a 501(c)(12) organization based in Keystone Hgts, Florida, registered in 1959, with $453,755,388 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
7022 Cooperative Way, Keystone Hgts, FL, 32656 EIN 59-0196695 Since 1959
Revenue (FY2024)
$453.8M
▲ 6.8% vs prior year
Public Benefit median: $140K
Expenses (FY2024)
$453.8M
Net assets
$441.0M
Employees
507
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating100% to programs
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. For Clay Electric Cooperative Inc: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating12 mo reserves · +0% 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 Clay Electric Cooperative Inc: 12 mo reserves · +0% 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 Clay Electric Cooperative Inc: 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 Clay Electric Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To exceed the expectations of our members by providing excellent customer service and reliable electric services at competitive rates while maintaining the financial stability of the cooperative.
Contact & location
- Address
- 7022 Cooperative Way, Keystone Hgts, FL, 32656
- City
- Keystone Hgts
- State
- Florida
- Category
- Public & Societal Benefit
- Subcategory
- Public Utilities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $346.5M (FY2013) to $453.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $567.2MNet assets $441.0M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.0B
Total liabilities
$567.2M
Net assets
$441.0M
Salaries & benefits
$10.0M
2% of expenses
Board members
9
7 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $453,755,388▲6.8% | $453,755,388▲6.8% | $441,048,766▲4.9% | $1,008,245,447▲10.2% | 990 |
| 2023 | $424,680,482▼11.1% | $424,680,482▼11.1% | $420,616,092▲3.0% | $915,334,309▲6.2% | 990 |
| 2022 | $477,827,474▲27.6% | $477,827,474▲27.6% | $408,538,366▲4.1% | $862,101,039▲7.5% | 990 |
| 2021 | $374,561,378▼1.4% | $374,561,378▼1.4% | $392,609,606▲4.1% | $801,967,548▲3.5% | 990 |
| 2020 | $379,786,896▲0.6% | $379,786,896▲0.6% | $376,997,405▼1.9% | $775,188,816▲3.8% | 990 |
| 2019 | $377,488,353▼1.0% | $377,488,353▼1.0% | $384,197,225▲3.5% | $746,522,898▲6.1% | 990 |
| 2018 | $381,355,614▲4.6% | $381,355,614▲4.6% | $371,040,122▲1.2% | $703,472,874▲3.0% | 990 |
| 2017 | $364,428,530▼1.0% | $364,428,530▼1.0% | $366,773,137▲3.0% | $683,012,794▲6.6% | 990 |
| 2016 | $367,942,236▼1.2% | $367,942,236▼1.2% | $356,117,027▲5.3% | $640,853,714▲2.9% | 990 |
| 2015 | $372,327,733▼1.6% | $372,327,733▼1.6% | $338,145,759▲4.7% | $623,067,612▲1.7% | 990 |
| 2014 | $378,395,924▲9.2% | $378,395,924▲9.2% | $322,843,582▲8.8% | $612,442,854▲7.2% | 990 |
| 2013 | $346,478,523 | $346,478,523▲1.2% | $296,828,600▲2.5% | $571,366,574▲6.8% | 990 |
| 2012 | — | $342,401,468▼6.2% | $289,552,687▲1.0% | $535,053,473 | 990 |
| 2011 | — | $364,976,878▼3.0% | $286,710,480▲5.7% | $535,172,041▲2.0% | 990 |
| 2010 | — | $376,318,888 | $271,283,607 | $524,609,995 | 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: Richard K Davis — $931,414 (0.21% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Richard K Davis | General Manager/ceo | 41 | $931,414 |
| Sanford M Maxwell | Chief Financial Officer | 43 | $342,598 |
| Derick Thomas | Chief Public Relations Off | 45 | $300,394 |
| Daniel B Gunter | Director of Operations | 45 | $298,469 |
| Christopher E Bryan | Director of Engineering | 40 | $293,425 |
| Donald J Williams | Chief Officer Corp Svcs | 50 | $276,318 |
| Troy Adams | District Manager-gv/lc | 48 | $239,029 |
| Cheryl Rodgers | Chief Audit Officer | 50 | $227,856 |
| Louie A Chaff | District Manager-op | 45 | $225,530 |
| Michael Grantham | Division Manager - Operations | 50 | $221,686 |
| Brent Richardson | Chief Information Officer | 40 | $220,596 |
| Mark A Townsend | Division Manager-t&d Const | 46 | $217,212 |
| Joseph Johnson | Division Manager - Engineering | 42 | $216,230 |
| William D Hembree | District Manager-pk/ss | 40 | $213,424 |
| Jared Baldree | Service Worker | 53 | $189,309 |
| Kelley R Smith Jr | Trustee - President | 12 | $46,892 |
| John H Whitehead | Trustee | 12 | $41,673 |
| Joseph C Malphurs | Trustee | 12 | $33,503 |
| Cynthia Loose | Trustee | 12 | $32,571 |
| Karen Hastings | Trustee | 8 | $32,350 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Pike Electric LLC | Construction Services | $5,916,129 |
| Wbe Line Services LLC | Row Contractor | $4,127,520 |
| Asplundh Tree Expert LLC | R/w Labor | $3,931,664 |
| Baird Tree Company Inc | Row Labor | $3,104,409 |
| Utility Lines Construction Services LLC | Construction Services | $2,315,700 |
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Compare Clay Electric Cooperative Inc
Frequently asked questions
- Is Clay Electric Cooperative Inc a legitimate nonprofit?
- Yes. Clay Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 59-0196695, based in Keystone Hgts, Florida.
- What is Clay Electric Cooperative Inc's EIN?
- Clay Electric Cooperative Inc's Employer Identification Number (EIN) is 59-0196695.
- How much revenue does Clay Electric Cooperative Inc report?
- Clay Electric Cooperative Inc reported $453,755,388 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Clay Electric Cooperative Inc's spending goes to programs?
- Clay Electric Cooperative Inc spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Clay Electric Cooperative Inc have?
- CharityIndex grades Clay Electric Cooperative Inc A+, based on program efficiency and fundraising cost.
- How much does Clay Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Clay Electric Cooperative Inc's latest Form 990 is $931,414, paid to Richard K Davis (General Manager/ceo).
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Data for Clay Electric Cooperative Inc (EIN 59-0196695) 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.