Florida Keys Electric Cooperative Assn Inc
Only null% goes to programs Strong reserves Growing revenue
Florida Keys Electric Cooperative Assn Inc is a 501(c)(12) organization based in Tavernier, Florida, registered in 1944, with $102,799,205 in FY2023 revenue. CharityIndex grades it A.
91630 Overseas Hwy, Tavernier, FL, 33070 EIN 59-0247095 Since 1944
Revenue (FY2023)
$102.8M
▼ 10.8% vs prior year
Membership median: $185K
Expenses (FY2023)
$102.8M
Net assets
$77.0M
Employees
131
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 Florida Keys Electric Cooperative Assn 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 rating9 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 Florida Keys Electric Cooperative Assn Inc: 9 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 Florida Keys Electric Cooperative Assn Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 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 Florida Keys Electric Cooperative Assn Inc: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
To provide quality and reliable electric service to members of the cooperative.
Contact & location
- Address
- 91630 Overseas Hwy, Tavernier, FL, 33070
- City
- Tavernier
- State
- Florida
- Category
- Mutual & Membership Benefit
- Subcategory
- Insurance Providers
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $78.9M (FY2013) to $102.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $145.9MNet assets $77.0M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$222.9M
Total liabilities
$145.9M
Net assets
$77.0M
Salaries & benefits
$13.1M
13% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $102,799,205▼10.8% | $102,799,205▼10.8% | $76,974,606▲2.9% | $222,888,499▲4.4% | 990 |
| 2022 | $115,190,628▲21.1% | $115,190,628▲21.1% | $74,800,685▲2.6% | $213,461,453▲6.5% | 990 |
| 2021 | $95,142,745▲9.7% | $95,142,745▲9.7% | $72,912,890▲5.5% | $200,443,071▲8.1% | 990 |
| 2020 | $86,737,218▼0.7% | $86,737,218▼0.7% | $69,086,356▲0.2% | $185,487,469▼1.4% | 990 |
| 2019 | $87,316,539▲6.1% | $87,316,539▲6.1% | $68,956,153▲8.9% | $188,174,652▲3.2% | 990 |
| 2018 | $82,313,812▲3.7% | $82,313,812▲3.7% | $63,346,870▲4.8% | $182,423,565▲4.2% | 990 |
| 2017 | $79,410,506▲2.4% | $79,410,506▲2.4% | $60,437,977▲2.4% | $175,047,182▲15.7% | 990 |
| 2016 | $77,579,509▼11.1% | $77,579,509▼11.1% | $59,001,446▼1.0% | $151,313,188▲2.9% | 990 |
| 2015 | $87,282,388▲1.2% | $87,282,388▲1.2% | $59,582,402▲6.3% | $147,053,190▲0.9% | 990 |
| 2014 | $86,256,568▲9.4% | $86,256,568▲9.4% | $56,041,349▲4.0% | $145,765,294▲2.3% | 990 |
| 2013 | $78,875,292 | $78,875,292▲3.2% | $53,863,767▲4.0% | $142,456,734▲5.6% | 990 |
| 2012 | — | $76,429,884▼5.8% | $51,793,156▲5.3% | $134,952,378▲4.2% | 990 |
| 2011 | — | $81,161,091▲4.2% | $49,208,909▲8.5% | $129,451,328▲2.4% | 990 |
| 2010 | — | $77,914,441 | $45,365,885 | $126,393,397 | 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 (FY2023)
Highest-paid: Scott Newberry — $386,958 (0.38% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Scott Newberry | Chief Executive Officer | 40 | $386,958 |
| John Stuart | Chief Operating Officer | 40 | $247,264 |
| Cris Beaty | Chief Financial Officer | 40 | $244,417 |
| Adam Secor | Soc Operator | 59 | $226,583 |
| Charles Hughes | Soc Operator | 51 | $205,609 |
| Thomas Anthony | Director of Power Supply A | 40 | $198,228 |
| Sheri Bulkiewicz | Director of Human Resource | 40 | $190,665 |
| William Lee | Director of Distribution Ops | 40 | $190,558 |
| Dorsey C Belcher | Director | 3.6 | $37,850 |
| Gretchen Holland | Secretary | 4.3 | $35,050 |
| Karl M Wagner | President | 5.2 | $33,850 |
| David C Ritz | Director | 5.7 | $33,600 |
| Cale Smith | Treasurer | 6.4 | $31,200 |
| Joseph H Roth III | Director | 5.9 | $28,750 |
| George D Hertel | Director | 5.2 | $28,650 |
| Michael H Puto | Vice President | 17.5 | $28,450 |
| James J Boilini | Director | 5.1 | $28,400 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Pike Electric LLC | Transmission Pole Line Replacement Contr | $6,358,055 |
| Haugland Energy Group LLC | Distribution Conductor & Pole Replacemen | $2,377,016 |
| The Le Meyers Company | Substation Upgrade Contractor - Kl Sub | $2,155,747 |
| Michels Corporation | Transmission Insulator Replacement Contr | $1,148,421 |
| Dave Tree Expert Co | Tree Trimming | $1,030,851 |
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Compare Florida Keys Electric Cooperative Assn Inc
Frequently asked questions
- Is Florida Keys Electric Cooperative Assn Inc a legitimate nonprofit?
- Yes. Florida Keys Electric Cooperative Assn Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 59-0247095, based in Tavernier, Florida.
- What is Florida Keys Electric Cooperative Assn Inc's EIN?
- Florida Keys Electric Cooperative Assn Inc's Employer Identification Number (EIN) is 59-0247095.
- How much revenue does Florida Keys Electric Cooperative Assn Inc report?
- Florida Keys Electric Cooperative Assn Inc reported $102,799,205 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- What financial grade does Florida Keys Electric Cooperative Assn Inc have?
- CharityIndex grades Florida Keys Electric Cooperative Assn Inc A, based on financial health (reserves and operating margin).
- How much does Florida Keys Electric Cooperative Assn Inc's highest-paid employee make?
- The highest reported compensation on Florida Keys Electric Cooperative Assn Inc's latest Form 990 is $386,958, paid to Scott Newberry (Chief Executive Officer).
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Data for Florida Keys Electric Cooperative Assn Inc (EIN 59-0247095) 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.