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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 2019. Filed on November 16, 2020.

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 2019 IRS Form 990 filing, Clay Electric Cooperative Inc., a 501(c)(12) mutual or cooperative insurance or utility provider, reported compensation for 11 out of 545 total employees. Among the employees shown here, the average compensation is $314,460. The highest compensated employee at Clay Electric Cooperative Inc. is Richard K Davis with fiscal year 2019 compensation of $735,519.

Revenue, expenses, and employee compensation

Revenue

$377,488,353

Expenses

$377,488,353

Employee compensation

$7,149,166
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Richard K Davis
Chief Executive Officer and General Manager
$735,519
$631,952 No related comp$103,567
Sanford M Maxwell
Chief Financial Officer
$359,103
$268,367 No related comp$90,736
Frank Holmes
Chief Operating Officer
$309,779
$232,712 No related comp$77,067
Derick Thomas
Chief Public Relations OFF
$286,326
$191,905 No related comp$94,421
Louie A Chaff
District Manager-Op
$279,975
$176,802 No related comp$103,173
Dale R Furlong
District Manager-Khd
$270,700
$185,925 No related comp$84,775
Thurman Lee Hicks
Human Resources Director
$265,102
$180,219 No related comp$84,883
Tobias Moss
Chief Information Officer
$256,265
$212,174 No related comp$44,091
Daniel B Gunter
Division Manager-Substatio
$241,715
$171,994 No related comp$69,721
Troy Adams
District Manager-Gv/Lc
$228,514
$185,442 No related comp$43,072
James R Beeler Jr
District Manager-Pk/Ss
$226,059
$181,019 No related comp$45,040

Benchmark Employee Compensation

Non-Employee Board Members

John H Whitehead
Trustee
$33,959
$33,959 No related compNo other comp
Susan S Reeves
Vice President and Trustee
$30,125
$30,125 No related compNo other comp
Joseph C Malphurs
Treasurer and Trustee
$28,160
$28,160 No related compNo other comp
Joann R Smith
Trustee
$26,474
$26,474 No related compNo other comp
James D Wilson
Secretary and Trustee
$25,973
$25,973 No related compNo other comp
Kelly R Smith Jr
Trustee
$25,251
$25,251 No related compNo other comp
Karen Hastings
Trustee
$22,829
$22,829 No related compNo other comp
Carl F Hagglund
President and Trustee
$20,350
$20,350 No related compNo other comp
Clyde D Hersey
Trustee
$18,100
$18,100 No related compNo other comp

Contractors

Landis Gyr Technology Inc.
Project Management
$13,897,886
Pike Electric Inc.
Construction
$4,653,586
Joyner Construction Inc.
Construction
$3,126,286
Musgrove Constructions LLC
Construction
$2,639,460
Asplundh Tree Expert Company LLC
R/W Labor
$2,292,654

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.

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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