Southwest Arkansas Electric Coop Corp
- Assets
- $272.5m
- Revenue
- $67.1m
- Investments
- $0.0
- Employees
- 89
- Location
- Texarkana, TX
- Founding
- 11/1944
- Data as of
- 12/2022
- EIN
- 71-0166791
Organization Overview
Southwest Arkansas Electric Coop Corp is located in Texarkana, TX. The organization was established in 1944. 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, Southwest Arkansas Electric Coop Corp employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Arkansas Electric Coop Corp 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 12/2022, Southwest Arkansas Electric Coop Corp generated $67.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $86.5m during the year ending 12/2022. While expenses have increased by 3.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FIRST CLASS ELECTRIC SERVICE TO THE MEMBERSHIP AT A VALUED PRICE, AND TO PROVIDE OTHER SERVICES THAT ADD VALUE TO THE ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO 18,929 MEMBER ACCOUNTS, 30,963 METER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dion Cooper President & CEO | Officer | 60 | $275,578 |
George Wall Vice President Of Operations | Officer | 45 | $165,769 |
Kecia Wolf President And CEO | Officer | 45 | $154,792 |
Kevin Kennedy Director Of Engineering | 40 | $137,856 | |
Bobby Fenton Director Of Operations | 40 | $131,759 | |
Glenn Hays Lineman | 50 | $121,107 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aands Tree Service Right Of Way | 12/30/22 | $930,738 |
Texar Tree And Timber Right Of Way | 12/30/22 | $625,784 |
Double J Excavation Fiber Construction | 12/30/22 | $871,113 |
Conexon Fiber Construction | 12/30/22 | $2,659,974 |
Mdr Construction Line Construction | 12/30/22 | $3,620,228 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,292 |
| 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 | $26,292 |
| Total Program Service Revenue | $83,297,047 |
| Investment income | $1,027,677 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$17,536,606 |
| Net Gain/Loss on Asset Sales | $115,262 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,125,073 |
| 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 | $4,428,402 |
| Compensation of current officers, directors, key employees. | $1,206,780 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,837,172 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $915,245 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,163,924 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,976,185 |
| Insurance | $0 |
| All other expenses | $280,241 |
| Total functional expenses | $86,469,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,241,235 |
| Savings and temporary cash investments | $13,096,646 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,026,078 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $353,155 |
| Inventories for sale or use | $9,051,835 |
| Prepaid expenses and deferred charges | $584,633 |
| Net Land, buildings, and equipment | $209,659,370 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $25,072,524 |
| Intangible assets | $0 |
| Other assets | $2,401,732 |
| Total assets | $272,487,208 |
| Accounts payable and accrued expenses | $18,813,869 |
| 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 | $138,636,872 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,622,810 |
| Total liabilities | $159,073,551 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $108,343,738 |
| Paid-in or capital surplus, or land, building, or equipment fund | $276,757 |
| Retained earnings, endowment, accumulated income, or other funds | $4,793,162 |
| Total liabilities and net assets/fund balances | $272,487,208 |