Texas Reliability Entity Inc
- Assets
- $5.5m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 69
- Location
- Austin, TX
- Founding
- 06/2010
- Data as of
- 12/2020
- 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 12/2021, Texas Reliability Entity Inc employed 69 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 12/2020, Texas Reliability Entity Inc generated $14.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $14.5m during the year ending 12/2020. While expenses have increased by 4.1% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Albright President & CEO | OfficerTrustee | 40 | $393,481 |
Derrick Davis General Counsel & Secretary | Officer | 40 | $255,932 |
William Crews Director, Compliance | 40 | $249,241 | |
Joseph Younger Vice President & COO | Officer | 40 | $238,078 |
Judy Foppiano CFO & Dir Of Corp Srvcs | Officer | 40 | $223,804 |
Mark Henry Director, Reliability Srvcs | 40 | $214,046 |
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 | $14,156,756 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,156,756 |
| Total Program Service Revenue | $36,750 |
| Investment income | $14,590 |
| 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 | $14,208,096 |
| 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. | $2,027,887 |
| Compensation of current officers, directors, key employees. | $2,027,887 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,903,417 |
| Pension plan accruals and contributions | $1,140,973 |
| Other employee benefits | $1,187,414 |
| Payroll taxes | $576,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,653 |
| Fees for services: Accounting | $58,521 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $655,498 |
| Advertising and promotion | $0 |
| Office expenses | $258,217 |
| Information technology | $448,776 |
| Royalties | $0 |
| Occupancy | $949,629 |
| Travel | $81,459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,414 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,854 |
| Insurance | $81,727 |
| All other expenses | $0 |
| Total functional expenses | $14,514,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,764,585 |
| Savings and temporary cash investments | $206,098 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,350 |
| 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 | $510,595 |
| Net Land, buildings, and equipment | $20,981 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,509,609 |
| Accounts payable and accrued expenses | $1,017,900 |
| Grants payable | $0 |
| Deferred revenue | $1,919 |
| 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 | $0 |
| Total liabilities | $1,019,819 |
| Net assets without donor restrictions | $4,489,790 |
| 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 | $5,509,609 |
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