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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 2020. Filed on November 15, 2021.

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 2020 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 534 total employees. Among the employees shown here, the average compensation is $353,470. The highest compensated employee at Clay Electric Cooperative Inc. is Richard K Davis with fiscal year 2020 compensation of $856,079.

Revenue, expenses, and employee compensation

Revenue

$379,786,896

Expenses

$379,786,896

Employee compensation

$7,936,814
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Richard K Davis
Chief Executive Officer and General Manager
$856,079
$740,958 No related comp$115,121
Sanford M Maxwell
Chief Financial Officer
$384,743
$289,802 No related comp$94,941
Frank Holmes
Chief Operating Officer
$347,522
$245,892 No related comp$101,630
Thurman Lee Hicks
Human Resources Director
$321,608
$201,098 No related comp$120,510
Louie A Chaff
District Manager-Op
$313,344
$184,369 No related comp$128,975
Derick Thomas
Chief Public Relations OFF
$310,705
$199,319 No related comp$111,386
Tobias Moss
Chief Information Officer
$286,938
$226,964 No related comp$59,974
Dale R Furlong
District Manager-Khd
$285,998
$187,699 No related comp$98,299
Troy Adams
District Manager-Gv/Lc
$274,962
$195,057 No related comp$79,905
Christopher E Bryan
Division Manager-Engineering
$260,988
$175,752 No related comp$85,236
Cheryl B Rogers
Chief Audit Officer
$245,287
$175,981 No related comp$69,306

Benchmark Employee Compensation

Non-Employee Board Members

Kelly R Smith Jr
Trustee
$32,298
$32,298 No related compNo other comp
John H Whitehead
Trustee
$29,629
$29,629 No related compNo other comp
Susan S Reeves
Vice President and Trustee
$26,623
$26,623 No related compNo other comp
Karen Hastings
Trustee
$25,758
$25,758 No related compNo other comp
Joseph C Malphurs
Treasurer and Trustee
$22,813
$22,813 No related compNo other comp
James D Wilson
Secretary and Trustee
$22,542
$22,542 No related compNo other comp
Joann R Smith
Trustee
$22,304
$22,304 No related compNo other comp
Clyde D Hersey
Trustee
$14,950
$14,950 No related compNo other comp
Carl F Hagglund
President and Trustee
$14,500
$14,500 No related compNo other comp

Contractors

All Reliable Services Inc.
R/W Labor
$4,175,647
Pike Electric Inc.
Construction
$2,945,765
Asplundh Tree Expert Company LLC
R/W Labor
$2,653,379
Landis Gyr Technology Inc.
Project Management
$2,384,397
Musgrove Construction LLC
Construction
$2,349,312

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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