Suwannee Valley Electric Cooperative Inc
501(c)(12)
Strong reserves Growing revenue
Suwannee Valley Electric Cooperative Inc is a 501(c)(12) organization based in Live Oak, Florida, registered in 1947, with $77,933,533 in FY2024 revenue.
11340 100th St, Live Oak, FL, 32060 EIN 59-0472323 Since 1947
Revenue (FY2024)
$77.9M
▲ 11.4% vs prior year
Expenses (FY2024)
$77.9M
Net assets
$66.1M
Employees
101
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 Suwannee Valley 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 rating10 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 Suwannee Valley Electric Cooperative Inc: 10 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 Suwannee Valley 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 Suwannee Valley Electric Cooperative Inc: 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
The cooperative's responsibility and aim as a member owned organization is to provide excellent and reliable customer service with competitive rates while enhancing the quality of life of residents in the suwannee river valley.
Contact & location
Financial trends
Revenue grew from $54.3M (FY2013) to $77.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $279.1MNet assets $66.1M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$345.2M
Total liabilities
$279.1M
Net assets
$66.1M
Salaries & benefits
$1.2M
2% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $77,933,533▲11.4% | $77,933,533▲11.4% | $66,114,781▲5.6% | $345,183,409▲31.9% | 990 |
| 2023 | $69,962,003▼8.2% | $69,962,003▼8.2% | $62,629,776▲0.4% | $261,730,501▲74.1% | 990 |
| 2022 | $76,170,256▲27.9% | $76,170,256▲27.9% | $62,385,088▲0.1% | $150,357,185▲4.2% | 990 |
| 2021 | $59,543,683▲0.8% | $59,543,683▲0.8% | $62,293,963▲1.7% | $144,309,853▲0.5% | 990 |
| 2020 | $59,096,020▼4.6% | $59,096,020▼4.6% | $61,259,410▲3.5% | $143,600,601▲6.4% | 990 |
| 2019 | $61,942,177▼0.7% | $61,942,177▼0.7% | $59,175,512▲3.7% | $134,899,691▲2.5% | 990 |
| 2018 | $62,351,686▲4.9% | $62,351,686▲4.9% | $57,067,320▲4.9% | $131,547,461▲5.2% | 990 |
| 2017 | $59,432,832▼1.5% | $59,432,832▼1.5% | $54,410,537▲2.9% | $125,094,516▼0.7% | 990 |
| 2016 | $60,367,693▼0.4% | $60,367,693▼0.4% | $52,900,725▲6.0% | $125,960,874▲5.1% | 990 |
| 2015 | $60,632,839▲3.6% | $60,632,839▲3.6% | $49,910,450▲6.4% | $119,901,060▲4.5% | 990 |
| 2014 | $58,517,331▲7.8% | $58,517,331▲8.2% | $46,921,214▲5.1% | $114,694,207▲5.9% | 990 |
| 2013 | $54,282,254 | $54,068,418▲3.6% | $44,651,972▲4.7% | $108,289,734▲2.7% | 990 |
| 2012 | — | $52,191,384▼5.5% | $42,627,188▲2.0% | $105,460,917▲3.7% | 990 |
| 2011 | — | $55,246,066▼1.8% | $41,804,751▲8.8% | $101,707,760▲3.7% | 990 |
| 2010 | — | $56,237,129 | $38,425,394 | $98,109,310 | 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: Mike Mcwaters — $362,684 (0.47% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Mike Mcwaters | Ceo | 54 | $362,684 |
| Kurt Miller | Director of Engineering | 46 | $219,569 |
| Mark Mosley | Director of Safety | 45 | $204,095 |
| John Robinson | Director of Member Service | 45 | $163,949 |
| Christine Moor | Cfo | 42 | $159,795 |
| Trevor Touchton | Manager of Power Technical | 45 | $155,242 |
| Jodi Hughes | Journeyman Lineman | 54 | $151,796 |
| Jimmy Taylor Jr | General Foreman | 53 | $135,216 |
| Jason Carroll | Manager of Operations | 44 | $132,699 |
| Tyler Putnal | Director/trustee | 2.7 | $8,500 |
| Cynthia Boyette | Secretary | 0.8 | $7,750 |
| Charles Walker | Director/trustee | 2.7 | $7,500 |
| Francene Folsom | Treasurer | 0.9 | $7,000 |
| Hugh Hunter | Director/trustee | 1 | $6,500 |
| Laure Bee Roberson III | Director/trustee | 1 | $6,500 |
| Jerry Goff | Vice President | 1.6 | $6,000 |
| Michael Adams | President | 1 | $6,000 |
| Sidney Lord | Director/trustee | 0.7 | $3,500 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Blue Lake Services | Utility Construction & Storm Recovery | $19,267,653 |
| Tide Basin Government Consulting LLC | Emergency Management | $11,345,263 |
| Conexon | Fiber Project Manager | $5,889,028 |
| Spe Utility Contractors Fd LLC | Distribution Construction Contractor | $3,343,965 |
| Utility Lines Construction | Distribution Construction Contractor | $2,701,905 |
Frequently asked questions
- Is Suwannee Valley Electric Cooperative Inc a legitimate nonprofit?
- Yes. Suwannee Valley Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 59-0472323, based in Live Oak, Florida.
- What is Suwannee Valley Electric Cooperative Inc's EIN?
- Suwannee Valley Electric Cooperative Inc's Employer Identification Number (EIN) is 59-0472323.
- How much revenue does Suwannee Valley Electric Cooperative Inc report?
- Suwannee Valley Electric Cooperative Inc reported $77,933,533 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Suwannee Valley Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Suwannee Valley Electric Cooperative Inc's latest Form 990 is $362,684, paid to Mike Mcwaters (Ceo).
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Data for Suwannee Valley Electric Cooperative Inc (EIN 59-0472323) 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.