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Nonprofit · EIN 71-0027635

CARROLL ELECTRIC COOPERATIVE CORPORATION

Tax-exempt · BERRYVILLE, AR 72616

Financials

$236.8M$236.8M2023$285.5M$284.1M2024
Revenue Expenses · by fiscal year end
Financials of CARROLL ELECTRIC COOPERATIVE CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$285,505,825$284,098,456$1,407,369$1,023,854,583$714,302,333$309,552,250
December 31, 2023990$236,762,389$236,762,389$0$884,921,248$603,555,280$281,365,968
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$278,045,417
Investment income
$5,963,398
Net rental income
$595
Net gain from sales of assets
$1,293,612
Net income from sales of inventory
-$4,620
Other revenue
$1,497,010

Expenses

Grants and similar amounts paid
$25,985
Benefits paid to members
$27,947,475
Compensation of officers, directors and key employees
$2,113,741
Other salaries and wages
$22,778,870
Salaries, compensation and benefits (total)
$35,201,036
Professional fundraising fees
$0
Depreciation
$27,833,742

Balance sheet and other

Total assets, start of year
$884,921,248
Total assets, end of year
$1,023,854,583
Total liabilities, end of year
$714,302,333
Net assets, end of year
$309,552,250
Land, buildings and equipment
$845,876,615
Gross receipts
$285,543,626
Employees
398
Volunteers
0
Year formed
1937
State of legal domicile
AR

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
ROBERT BOAZPRESIDENT/CEO
Officer
55$714,511$521,025
KEAN STEELYVP ENGINEERING & OPERATIONS
Highest-paid employee
45$389,883$220,638
MICHAEL DODGEVP BENTONVILLE DISTRICT
Highest-paid employee
45$326,609$236,013
JOHN WORLEYVP BENTON COUNTY LINE SERVICES
Highest-paid employee
60$272,175$263,367
CHAD ALLENVP FINANCIAL SERVICES
Officer
45$287,982$244,874
CORY SMITHVP CORPORATE RELATIONS
Highest-paid employee
45$306,555$126,432
TYLER ASHWORTHVP TEAM SERVICES
Highest-paid employee
50$289,319$117,716
DAVID GLASSDIRECTOR
Trustee or director
12$44,122$48
KRISTY NOBLE-TESCHDIRECTOR
Trustee or director
5.7$42,672$36
JOSEPH R SPIVEYDIRECTOR
Trustee or director
6$40,880$36
CHARLES R SHINNDIRECTOR
Trustee or director
6.7$39,174$45
BOBBY G RAULSTONDIRECTOR
Trustee or director
5.3$39,174$27
J NEFF BASOREDIRECTOR
Trustee or director
8.1$35,743$29
CARLA HATHORNVICE CHAIRMAN
Trustee or director, Officer
6.5$35,137$37
ALAN HUNNICUTTCHAIRMAN
Trustee or director, Officer
7.2$34,625$40
1 more people on this return
NameTitleHours / weekCompensation
WINFRED PRIERSECRETARY/TREASURER
Trustee or director, Officer
2.2$33,524
990 for the year ended December 31, 2023: 16 people
NameTitleHours / weekCompensationOther / benefits
ROBERT BOAZPRESIDENT/CEO
Officer
55$678,295$447,974
KEAN STEELYVP ENGINEERING & OPERATIONS
Highest-paid employee
45$352,936$203,247
MICHAEL DODGEVP BENTONVILLE DISTRICT
Highest-paid employee
45$297,222$210,770
JOHN WORLEYVP BENTON COUNTY LINE SERVICES
Highest-paid employee
60$245,534$256,859
CHAD ALLENVP FINANCIAL SERVICES
Officer
45$263,779$238,211
CORY SMITHVP CORPORATE RELATIONS
Highest-paid employee
45$275,251$117,141
TYLER ASHWORTHVP TEAM SERVICES
Highest-paid employee
50$264,246$114,675
DAVID GLASSDIRECTOR
Trustee or director
10$44,736$43
KRISTY NOBLE-TESCHDIRECTOR
Trustee or director
6.3$41,436$35
JOSEPH R SPIVEYDIRECTOR
Trustee or director
9.4$40,336$34
CHARLES R SHINNDIRECTOR
Trustee or director
6.4$38,136$43
BOBBY G RAULSTONDIRECTOR
Trustee or director
4.8$35,936$23
CARLA HATHORNVICE CHAIRMAN
Trustee or director, Officer
6.7$33,524$38
ALAN HUNNICUTTCHAIRMAN
Trustee or director, Officer
7.4$32,636$38
J NEFF BASOREDIRECTOR
Trustee or director
6.6$32,636$28
WINFRED PRIERSECRETARY/TREASURER
Trustee or director, Officer
2.2$31,720$0

Address and contacts

Address (IRS master file)
PO BOX 4000, BERRYVILLE, AR 72616-4000
Principal officer (990 for 2024)
ROBERT BOAZ, PO BOX 4000, BERRYVILLE, AR 72616
Signed the 990
ROBERT BOAZ, PRESIDENT/CEO
Phone
(870) 423-2161
Return prepared by
BOLINGER SEGARS GILBERT AND MOSS LLP

Mission

WE EXIST TO SERVE OUR MEMBERS WITH SAFE, RELIABLE, AND AFFORDABLE ELECTRICITY.

990 for the year ended December 31, 2024

Program accomplishments

  • SALES OF ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 121,243 ACTIVE SERVICES AT YEAR END.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
71-0027635
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1939
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,023,854,583
Income (IRS master file)
$285,543,626

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$285,505,825$284,098,456$1,023,854,583IRS
990December 2023$236,762,389$236,762,389$884,921,248XML
990December 2022$275,207,800$275,207,800$831,063,495IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 71-0027635).

Questions about CARROLL ELECTRIC COOPERATIVE CORPORATION

What is the EIN of CARROLL ELECTRIC COOPERATIVE CORPORATION?
The employer identification number (EIN) of CARROLL ELECTRIC COOPERATIVE CORPORATION is 71-0027635.
Is CARROLL ELECTRIC COOPERATIVE CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1939.
Are donations to CARROLL ELECTRIC COOPERATIVE CORPORATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does CARROLL ELECTRIC COOPERATIVE CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of CARROLL ELECTRIC COOPERATIVE CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did CARROLL ELECTRIC COOPERATIVE CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of CARROLL ELECTRIC COOPERATIVE CORPORATION?
The 990 for the year ended December 31, 2024 names ROBERT BOAZ.
Who are the officers and directors of CARROLL ELECTRIC COOPERATIVE CORPORATION?
The 990 for the year ended December 31, 2024 lists 16 people; 16 received compensation from the organization, the highest $714,511 (ROBERT BOAZ, PRESIDENT/CEO).
How much revenue does CARROLL ELECTRIC COOPERATIVE CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $285,505,825, expenses of $284,098,456 and total assets of $1,023,854,583 at year end.

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