Denton County Electric Cooperative Inc

Organization Overview

Denton County Electric Cooperative Inc, operating under the name Coserv Electric, is located in Corinth, TX. The organization was established in 1938. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Coserv Electric employed 451 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coserv Electric is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.

For the year ending 12/2021, Coserv Electric generated $639.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $638.5m during the year ending 12/2021. While expenses have increased by 4.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SALES OF ELECTRICITY AND RELATED SERVICES TO MEMBERS WERE PROVIDED AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THE COOPERATIVE PROVIDED ELECTRICITY TO 280,324 ACTIVE MEMBER SERVICES AT YEAR END.


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Outside Vendors & Contractors

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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$637,249,543
Investment income $107,954
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $915,605
Net Gain/Loss on Asset Sales $358,387
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $639,082,515

Grants Awarded

Over the last fiscal year, Denton County Electric Cooperative Inc has awarded $246,380 in support to 12 organizations.

Grant RecipientAmount

COSERV CHARITABLE FOUNDATION

Org PageRecipient Profile

Corinth, TX

PURPOSE: TO SUPPORT THE FOUNDATION'S OPERATIONS.

$36,380

FRISCO EDUCATION FOUNDATION

Org PageRecipient Profile

Frisco, TX

PURPOSE: TO FUND AN ENDOWMENT TO REIMBURSE TEACHERS FOR OUT-OF-POCKET PURCHASES OF TEACHING SUPPLIES.

$35,000

DENTON PUBLIC SCHOOL FOUNDATION

Org PageRecipient Profile

Denton, TX

PURPOSE: TO FUND AN ENDOWMENT TO REIMBURSE TEACHERS FOR OUT-OF-POCKET PURCHASES OF TEACHING SUPPLIES.

$25,000

LEWISVILLE EDUCATION FOUNDATION INC

Org PageRecipient Profile

Lewisville, TX

PURPOSE: TO FUND AN ENDOWMENT TO REIMBURSE TEACHERS FOR OUT-OF-POCKET PURCHASES OF TEACHING SUPPLIES.

$25,000

NORTHWEST EDUCATIONAL FOUNDATION

Org PageRecipient Profile

Fort Worth, TX

PURPOSE: TO FUND AN ENDOWMENT TO REIMBURSE TEACHERS FOR OUT-OF-POCKET PURCHASES OF TEACHING SUPPLIES.

$25,000

LITTLE ELM INDEPENDENT SCHOOL DISTRICT

PURPOSE: TO FUND AN ENDOWMENT TO REIMBURSE TEACHERS FOR OUT-OF-POCKET PURCHASES OF TEACHING SUPPLIES.

$20,000
View Grant Profile

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