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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 2023. Filed on April 28, 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 2023 IRS Form 990 filing, Clay Electric Cooperative Inc., a 501(c)(12) mutual or cooperative insurance or utility provider, reported compensation for 14 out of 522 total employees. Among the employees shown here, the average compensation is $347,922. The highest compensated employee at Clay Electric Cooperative Inc. is Richard K Davis with fiscal year 2023 compensation of $890,595.

Revenue, expenses, and employee compensation

Revenue

$424,680,482

Expenses

$424,680,482

Employee compensation

$9,519,285
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Richard K Davis
Chief Executive Officer and General Manager
$890,595
$773,130 No related comp$117,465
Donald J Williams
Chief Officer CORP SVCS
$444,214
$236,186 No related comp$208,028
Derick Thomas
Chief Public Relations OFF
$386,657
$268,572 No related comp$118,085
Christopher E Bryan
Engineering Director
$337,902
$252,676 No related comp$85,226
Daniel B Gunter
Operations Director
$336,111
$252,709 No related comp$83,402
Sanford M Maxwell
Chief Financial Officer
$329,305
$223,935 No related comp$105,370
Mark A Townsend
Division Manager-T&D Const
$286,256
$199,535 No related comp$86,721
Troy Adams
District Manager-Gv/Lc
$280,019
$207,461 No related comp$72,558
Michael Grantham
Division Manager-Operations
$274,917
$204,026 No related comp$70,891
Louie A Chaff
District Manager-Op
$267,994
$202,811 No related comp$65,183
Cheryl Rogers
Chief Audit Officer
$264,832
$202,504 No related comp$62,328
Brent Richardson
Chief Information Officer
$260,485
$201,612 No related comp$58,873

Benchmark Employee Compensation

Non-Employee Board Members

Kelley R Smith Jr
Secretary and Trustee
$46,798
$46,798 No related compNo other comp
John H Whitehead
Trustee
$42,331
$42,331 No related compNo other comp
Karen Hastings
Vice President and Trustee
$35,859
$35,859 No related compNo other comp
Joseph C Malphurs
President and Trustee
$35,202
$35,202 No related compNo other comp
Cynthia Loose
Trustee
$31,044
$31,044 No related compNo other comp
James D Wilson
Trustee
$30,438
$30,438 No related compNo other comp
Susan S Reeves
Trustee
$29,232
$29,232 No related compNo other comp
Joann R Smith
Trustee
$23,493
$23,493 No related compNo other comp
Clyde D Hersey
Treasurer and Trustee
$23,100
$23,100 No related compNo other comp

Contractors

Musgrove Construction Inc.
Construction
$4,162,593
Pike Electric Inc.
Construction
$3,592,619
Asplundh Tree Expert CO
R/W Labor
$3,066,369
All Reliable Services Inc.
Row Labor
$2,826,267
Wbe Line Services LLC
Row Contractor
$2,466,852

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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Clay Electric Cooperative Inc.
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Platte-Clay Electric Cooperative Inc
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