Community Electric Cooperative

Community Electric Cooperative is a nonprofit organization registered as a 501(c)(12) entity, based in Virginia. It was established in 1938 through the efforts of local community leaders, primarily the Holland Ruritan Club, to provide electrical services to rural areas in Southeastern Virginia[4]. The cooperative serves more than 11,000 accounts across its 1,590 miles of distribution lines[4].

Mission and Principles

The mission of Community Electric Cooperative is to ensure the safe and efficient delivery of electricity to its member base. It operates on seven cooperative principles, including voluntary and open membership and democratic member control. This foundational structure allows members to participate actively in decision-making processes, ensuring accountability and community engagement[4].

Operations

Community Electric Cooperative focuses primarily on the cost of power, which comprises a significant portion of its expenses. Other key investments include employee salaries and depreciation of assets. The cooperative's operations are designed to provide reliable electricity and enhance the quality of life for its members by maintaining and upgrading infrastructure[1].

Financial Structure

The cooperative operates on a not-for-profit basis, returning any margins (profits) to its members in the form of capital credits. These credits are reinvested into the business to improve services and reduce the need for external borrowing, which helps maintain competitive electricity rates for members[2]. As of recent financial reports, the cooperative has total assets exceeding $58 million and liabilities of around $28 million[1].

Capital Credits

Capital credits are a key benefit for member-consumers, representing a return on their investment in the cooperative. These credits are allocated based on electricity usage and are returned to members over time, typically on a 15-year rotation[2]. Since its inception, Community Electric Cooperative has returned significant sums to its members, reflecting its commitment to returning value to the community it serves[2].

Environmental and Community Impact

The cooperative supports flexible environmental policies that encourage innovation and voluntary conservation, aiming to minimize financial impacts on its members while ensuring reliable and affordable power[4]. Through its operations, Community Electric Cooperative plays a vital role in enhancing the economic stability and well-being of rural regions, where it provides essential electricity services[1].

[1] https://givefreely.com/charity-directory/nonprofit/ein-540178963/ [2] https://www.comelec.coop/your-account/capital-credits/ [3] https://www.electric.coop/our-organization [4] https://www.comelec.coop/our-cooperative/our-mission-history/ [5] https://projects.propublica.org/nonprofits/organizations/540178963