Covington Electric Cooperative Inc
501(c)(12)
Strong reserves Growing revenue
Covington Electric Cooperative Inc is a 501(c)(12) organization based in Andalusia, Alabama, registered in 1957, with $71,225,741 in FY2024 revenue.
18836 Us Highway 84, Andalusia, AL, 36421 EIN 63-0462077 Since 1957
Revenue (FY2024)
$71.2M
▲ 5.8% vs prior year
Expenses (FY2024)
$65.6M
Net assets
$97.0M
Employees
94
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
★★★★
Rated on 3 of 4 criteria — the rest aren't reported in this filing type.
Capped at A — the top grade requires the fuller disclosure of a complete Form 990.
How the rating works →—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 Covington Electric Cooperative Inc— 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 rating18 mo reserves · +8% 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 Covington Electric Cooperative Inc: 18 mo reserves · +8% 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 Covington Electric Cooperative Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Covington Electric Cooperative Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
The cooperative operates as an electric distribution cooperative.
What they do
Salaries of management and key personnel are reviewed by the board using comparable data from others in the industry. periodically, positions and salaries are reviewed by an outside consultant.
Contact & location
Financial trends
Revenue grew from $54.3M (FY2013) to $71.2M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $146.5MNet assets $97.0M
Operating margin
8.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$243.5M
Total liabilities
$146.5M
Net assets
$97.0M
Salaries & benefits
$1.4M
2% of expenses
Board members
6
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $71,225,741▲5.8% | $65,563,167▲7.2% | $96,980,935▲6.0% | $243,525,069▼0.8% | 990 |
| 2023 | $67,323,003▲5.7% | $61,179,217▲2.3% | $91,496,398▲7.5% | $245,434,365▲14.0% | 990 |
| 2022 | $63,715,088▲10.6% | $59,825,928▲10.2% | $85,146,503▲4.8% | $215,289,876▲19.5% | 990 |
| 2021 | $57,592,182▲2.5% | $54,275,475▲2.5% | $81,278,891▲3.5% | $180,159,805▲1.3% | 990 |
| 2020 | $56,187,543▼2.8% | $52,948,907▼2.6% | $78,547,930▲4.5% | $177,899,412▲0.1% | 990 |
| 2019 | $57,779,280▲1.5% | $54,352,198▲0.9% | $75,135,835▲4.9% | $177,644,857▲13.5% | 990 |
| 2018 | $56,928,436▲4.0% | $53,848,882▲0.9% | $71,595,194▲6.1% | $156,545,617▲2.3% | 990 |
| 2017 | $54,721,428▼1.9% | $53,381,769▼2.4% | $67,457,219▲13.1% | $153,059,601▲5.0% | 990 |
| 2015 | $55,762,866▼1.0% | $54,667,478▼5.0% | $59,662,607▲5.4% | $145,808,323▼0.1% | 990 |
| 2014 | $56,299,920▲3.7% | $57,567,574▲2.0% | $56,621,640▲3.3% | $145,995,977▲4.8% | 990 |
| 2013 | $54,289,647 | $56,415,322▲4.4% | $54,828,780▲5.3% | $139,359,269▲4.6% | 990 |
| 2012 | — | $54,051,117▲0.1% | $52,077,642▲11.3% | $133,203,323▲4.6% | 990 |
| 2011 | — | $53,976,464▲6.9% | $46,803,400▲6.9% | $127,402,719▲8.6% | 990 |
| 2010 | — | $50,501,970 | $43,799,031 | $117,292,836 | 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: Mark G Parker — $336,651 (0.51% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Mark G Parker | President & | 60 | $336,651 |
| Kimberly M Carter | Vp Finance | 55 | $202,313 |
| Bert L Champion | Vp Operation | 50 | $201,731 |
| Francis M Chirico | Director En | 40 | $170,261 |
| Anthony Willis | Director Tel | 60 | $147,609 |
| Randall Helms | Operations M | 45 | $143,006 |
| Patricia C Janasky | Secretary/tr | 5 | $28,212 |
| James F Martin Jr | Trustee | 4 | $26,863 |
| Willie B Smith Jr | Chairman | 5 | $26,862 |
| Charles Grace | Trustee | 5 | $25,962 |
| William G King Jr | Assistant Se | 6.2 | $25,062 |
| C Heflin Smith | Vice Chairma | 2 | $24,163 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Fiberrise Communication | Broadband Const | $3,385,245 |
| Htc LLC | Construction | $1,594,056 |
| Asplundh Tree Expert | Row Clearing | $1,165,219 |
| Southern States Utility | Contract Const | $1,024,801 |
| B & L Construction | Construction | $574,056 |
Grants received · $25K total
1 grant to Covington Electric Cooperative Inc totaling $25K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| National Rural Utilities Cooperative Finance Corp | Integrity fund - territory threat | 2015 | $25,000 |
Frequently asked questions
- Is Covington Electric Cooperative Inc a legitimate nonprofit?
- Yes. Covington Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 63-0462077, based in Andalusia, Alabama.
- What is Covington Electric Cooperative Inc's EIN?
- Covington Electric Cooperative Inc's Employer Identification Number (EIN) is 63-0462077.
- How much revenue does Covington Electric Cooperative Inc report?
- Covington Electric Cooperative Inc reported $71,225,741 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Covington Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Covington Electric Cooperative Inc's latest Form 990 is $336,651, paid to Mark G Parker (President &).
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Data for Covington Electric Cooperative Inc (EIN 63-0462077) 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.