CENTRAL FLORIDA ELECTRIC COOPERATIVE INC

EIN: 590188973

CHIEFLAND, FL

Total Revenue
$106,494,859
Total Expenses
$100,803,200
Total Assets
$344,068,984
Net Assets
$74,515,662
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1939
Legal Domicile
FL
Principal Officer
DENNY GEORGE
Phone
8002271302
Tax Period
2025-01-01 to 2025-12-31

CENTRAL FLORIDA ELECTRIC COOPERATIVE INC, founded in 1939, is a major nonprofit that reported $106.5M in total revenue in fiscal year 2025. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $100.8M left a modest 5% surplus.

Mission

CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC. (CFEC) IS A COMMUNITY ORIENTED,MEMBER-OWNED COOPERATIVE THAT PROVIDES RELIABLE SERVICE TO ITS MEMBERS-OWNERS AT THE LOWEST RATE POSSIBLE, WHILE BEING FISCALLY AND ENVIRONMENTALLY RESPONSIBLE. TO BE THE FINEST EXAMPLE OF AN ELECTRIC COOPERATIVE WHERE EXCELLENT SERVICE, COMPETITIVE RATES AND CONCERN FOR THE CONSUMER, COMMUNITY AND ENVIRONMENT GUIDE OUR EVERY ACTION.

Program Service Accomplishments

Program 1

SALE OF ELECTRICITY TO APPROXIMATELY 28,000 COOPERATIVE MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $105,078,438
Investment Income $1,416,421
Other Revenue $0
TOTAL REVENUE $106,494,859

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,279,715
Fundraising Expenses $0
Other Expenses $99,372,574
TOTAL EXPENSES $100,803,200

Year-over-Year Comparison

2025 2024 Change
Revenue $106,494,859 $84,243,478 +0.3%
Expenses $100,803,200 $84,549,237 +0.2%
Net Income $5,691,659 $-305,759 -19.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
121
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$1,069,586
Total Directors
9
$335,090
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HOUSTON MARKHAM TRUSTEE 8.00
Director
$29,708 $0 $29,708
KYLE QUINCEY TRUSTEE/VICE PRESIDENT 5.00
Officer Director
$41,777 $0 $41,777
MELISSA LEWIS TRUSTEE 4.00
Director
$23,194 $0 $23,194
DONALD LANE TRUSTEE 10.00
Director
$35,334 $0 $35,334
ALAN MIKELL TRUSTEE/PRESIDENT 10.00
Officer Director
$36,458 $0 $36,458
JAMES MCCAIN TRUSTEE 8.00
Director
$31,958 $0 $31,958
LARRY THOMPSON TRUSTEE/SECRETARY 7.00
Officer Director
$46,727 $0 $46,727
JESSIE ROBINSON TRUSTEE 4.00
Director
$43,577 $0 $43,577
Tammy Bryan TRUSTEE 8.00
Director
$46,357 $0 $46,357
GEORGE BUCKNER CHIEF INFORMATION OFFICER 40.00
Officer
$155,706 $61,088 $216,794
JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 40.00
Officer
$382,460 $111,846 $494,306
ROBERT D KREFTING ENTERPRISE CFO 40.00
Officer
$186,478 $47,046 $233,524
KLINT WOOD CREW SUPERVISOR 40.00
Highest
$171,747 $47,975 $219,722
STEVEN STUDSTILL SUPERVISOR OF METERING/PROTECTION/SUBSTATION 40.00
Highest
$128,466 $42,976 $171,442
JAMES BEAUCHAMP VP OPERATIONS 40.00
Highest
$135,879 $58,727 $194,606
EDWIN RUTH SR. ENGINEERING TECHNICIAN 40.00
Highest
$131,226 $43,777 $175,003
DANIEL POWELL VP ENGINEERING 40.00
Highest
$139,950 $59,621 $199,571
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $106,494,859 $100,803,200 $344,068,984 $5,691,659
2024 No data No data No data No data
2023 $75,068,606 $73,789,133 $223,844,705 $1,279,473
2022 $82,660,488 $81,880,805 $182,366,640 $779,683
2021 $67,342,148 $67,197,098 $145,913,445 $145,050
2020 $66,469,784 $64,823,028 $141,542,916 $1,646,756
2019 $65,149,250 $64,849,335 $135,873,417 $299,915
2018 $66,530,908 $65,212,038 $131,685,159 $1,318,870
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