South Plains Electric Cooperative Inc

Organization Overview

South Plains Electric Cooperative Inc is located in Lubbock, TX. The organization was established in 1943. 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, South Plains Electric Cooperative Inc employed 196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Plains Electric Cooperative Inc 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, South Plains Electric Cooperative Inc generated $159.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $161.6m during the year ending 12/2021. While expenses have increased by 2.9% 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 ENERGY TO MEMBERS AT COST ON A COOPERATIVE BASIS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SALES OF ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 66,578 ACTIVE SERVICES AT YEAR END.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
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Construction Contractor
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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$161,312,126
Investment income $387,268
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $106,262
Net Gain/Loss on Asset Sales -$2,464,332
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $252,713
Miscellaneous Revenue$0
Total Revenue $159,722,811

Grants Awarded

Over the last fiscal year, South Plains Electric Cooperative Inc has awarded $20,367 in support to 2 organizations.

Grant RecipientAmount

LUBBOCK AREA UNITED WAY

Org PageRecipient Profile

Lubbock, TX

PURPOSE: ANNUAL SUPPORT

$13,725

INSIDE OUT FOUNDATION

Org PageRecipient Profile

Lubbock, TX

PURPOSE: ANNUAL SUPPORT

$6,642
View Grant Profile

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