Texas Reliability Entity Inc
- Assets
- $14.8m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 74
- Location
- Austin, TX
- Founding
- 06/2010
- Data as of
- 12/2022
- EIN
- 27-1582178
Organization Overview
Texas Reliability Entity Inc is located in Austin, TX. The organization was established in 2010. 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 12/2022, Texas Reliability Entity Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Reliability Entity Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Texas Reliability Entity Inc generated $15.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $14.8m during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 8 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Albright President & CEO | OfficerTrustee | 40 | $481,380 |
Joseph Younger Vice President & COO | Officer | 40 | $285,769 |
Derrick Davis General Counsel & Secretary | Officer | 40 | $272,489 |
William Crews Director, Compliance | 40 | $259,248 | |
Mark Henry Director, Reliability Srvcs | 40 | $224,955 | |
Judy Foppiano CFO & Dir Of Corp Srvcs | Officer | 40 | $235,769 |
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 | $15,003,365 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,003,365 |
| Total Program Service Revenue | $851,912 |
| Investment income | $50,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,905,747 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,826,527 |
| Compensation of current officers, directors, key employees. | $1,826,527 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,995,692 |
| Pension plan accruals and contributions | $1,085,246 |
| Other employee benefits | $1,068,867 |
| Payroll taxes | $544,954 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $748 |
| Fees for services: Accounting | $52,712 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $421,040 |
| Advertising and promotion | $0 |
| Office expenses | $670,320 |
| Information technology | $587,722 |
| Royalties | $0 |
| Occupancy | $1,079,329 |
| Travel | $175,538 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,845 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $127,998 |
| Insurance | $91,774 |
| All other expenses | $0 |
| Total functional expenses | $14,802,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,728,853 |
| Savings and temporary cash investments | $903,382 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $509,937 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $536,727 |
| Net Land, buildings, and equipment | $10,132,162 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,811,061 |
| Accounts payable and accrued expenses | $1,630,787 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,046,777 |
| Total liabilities | $9,677,564 |
| Net assets without donor restrictions | $5,133,497 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,811,061 |