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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Public & Societal Benefit Clay Electric Cooperative Inc.

Clay Electric Cooperative Inc.

Fiscal year ending 2024. Filed on November 13, 2025.

PO Box 308
Keystone Heights, Florida 32656

Clay Electric Cooperative Inc. (EIN: 59-0196695) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, Clay Electric Cooperative Inc., a 501(c)(12) mutual or cooperative insurance or utility provider, reported compensation for 15 out of 507 total employees. Among the employees shown here, the average compensation is $388,458. The highest compensated employee at Clay Electric Cooperative Inc. is Richard K Davis with fiscal year 2024 compensation of $1,059,379.

Revenue, expenses, and employee compensation

Revenue

$453,755,388

Expenses

$453,755,388

Employee compensation

$10,038,959
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Richard K Davis
Chief Executive Officer and General Manager
$1,059,379
$931,414 No related comp$127,965
Donald J Williams
Chief Officer CORP SVCS
$488,359
$276,318 No related comp$212,041
Sanford M Maxwell
Chief Financial Officer
$456,010
$342,598 No related comp$113,412
Derick Thomas
Chief Public Relations OFF
$423,995
$300,394 No related comp$123,601
Daniel B Gunter
Operations Director
$391,171
$298,469 No related comp$92,702
Christopher E Bryan
Engineering Director
$386,836
$293,425 No related comp$93,411
Troy Adams
District Manager-Gv/Lc
$315,900
$239,029 No related comp$76,871
Mark A Townsend
Division Manager-T&D Const
$313,055
$217,212 No related comp$95,843
Michael Grantham
Division Manager - Operations
$299,913
$221,686 No related comp$78,227
Louie A Chaff
District Manager-Op
$298,481
$225,530 No related comp$72,951
Cheryl Rodgers
Chief Audit Officer
$293,215
$227,856 No related comp$65,359
William D Hembree
District Manager-Pk/Ss
$284,165
$213,424 No related comp$70,741

Benchmark Employee Compensation

Non-Employee Board Members

Kelley R Smith Jr
President and Trustee
$46,892
$46,892 No related compNo other comp
John H Whitehead
Trustee
$41,673
$41,673 No related compNo other comp
Joseph C Malphurs
Trustee
$33,503
$33,503 No related compNo other comp
Cynthia Loose
Trustee
$32,571
$32,571 No related compNo other comp
Karen Hastings
Trustee
$32,350
$32,350 No related compNo other comp
James D Wilson
Trustee
$26,919
$26,919 No related compNo other comp
Susan S Reeves
Trustee
$26,708
$26,708 No related compNo other comp
Joann R Smith
Trustee
$25,508
$25,508 No related compNo other comp
Clyde D Hersey
Trustee
$22,116
$22,116 No related compNo other comp

Contractors

Pike Electric LLC
Construction
$5,916,129
Wbe Line Services LLC
Row Contractor
$4,127,520
Asplundh Tree Expert CO
R/W Labor
$3,931,664
Baird Tree Company Inc.
Row Labor
$3,104,409
Utility Lines Construction Services Inc
Construction
$2,315,700

Mission Statement

TO EXCEED THE EXPECTATIONS OF OUR MEMBERS BY PROVIDING EXCELLENT CUSTOMER SERVICE AND RELIABLE ELECTRIC SERVICES AT COMPETITIVE RATES WHILE MAINTAINING THE FINANCIAL STABILITY OF THE COOPERATIVE.

Other organizations also named Clay Electric Cooperative

Clay Electric Cooperative Inc.
Flora, Illinois
Platte-Clay Electric Cooperative Inc
Kearney, Missouri

Revisions to this organization profile

November 13, 2025:
2024 Clay Electric Cooperative Inc. 990 filed
April 28, 2025:
2023 Clay Electric Cooperative Inc. 990 filed
November 15, 2023:
2022 Clay Electric Cooperative Inc. 990 filed

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