Bandera Electric Cooperative Inc
- Assets
- $290.5m
- Revenue
- $89.2m
- Investments
- $0.0
- Employees
- 143
- Location
- Bandera, TX
- Founding
- 01/1940
- Data as of
- 12/2021
- EIN
- 74-0498072
Organization Overview
Bandera Electric Cooperative Inc is located in Bandera, TX. The organization was established in 1940. 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, Bandera Electric Cooperative Inc employed 143 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bandera 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, Bandera Electric Cooperative Inc generated $89.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $89.7m during the year ending 12/2021. While expenses have increased by 4.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC, BROADBAND INTERNET AND OTHER RELATED GOODS AND SERVICES TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 39,239 ACTIVE SERVICES AT YEAR END.
FIBER DIVISION:PROVIDING FIBER OPTIC BROADBAND INTERNET SERVICES TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 9,760 BROADBAND SUBSCRIBERS AT YEAR END. THE FIRST CONNECTIONS BEGAN RECEIVING SERVICE IN 2017.
ENERGY SERVICES DIVISION:PROVIDING SOLAR ENERGY AND ENERGY MANAGEMENT SOLUTIONS TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL WHEN CUMULATIVE NET MARGINS FROM THESE SERVICES EXCEEDS CUMULATIVE LOSSES. THERE WERE 218 SUBSCRIBERS AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Hetherington Ceo/general Manager | Officer | 60 | $438,722 |
John Padalino General Counsel/admin Officer | Officer | 60 | $287,305 |
Shane Schmidt Manager Of Bec Fiber | Officer | 54 | $257,061 |
Becky Bradburn CFO | Officer | 50 | $225,642 |
Justin Mckenzie Manager Of Energy Services | Officer | 60 | $165,370 |
John Rush Manager Of Trans & Dist. Operations | 55 | $148,974 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K&s Electric Co Inc Fiber Contractor | 12/30/21 | $2,527,327 |
Das Underground Utilities Llc Underground Construction Contractor | 12/30/21 | $2,446,455 |
Pannell Contracting Llc Right Of Way Clearing Contractor | 12/30/21 | $2,109,038 |
Das Fiber Llc Fiber Contractor | 12/30/21 | $2,076,871 |
Presidio Networked Solutions Llc Software Development Contractor | 12/30/21 | $1,967,455 |
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 | $87,204,273 |
| Investment income | $67,558 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,034,653 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $124,913 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,188,257 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $97,275 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,025,429 |
| Compensation of current officers, directors, key employees. | $2,060,086 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,865,927 |
| Pension plan accruals and contributions | $792,787 |
| Other employee benefits | $1,016,199 |
| Payroll taxes | $457,518 |
| 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 | $5,546,499 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,219,422 |
| Insurance | $0 |
| All other expenses | $1,923,244 |
| Total functional expenses | $89,743,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,233,140 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,180,681 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,567,773 |
| Inventories for sale or use | $3,142,327 |
| Prepaid expenses and deferred charges | $498,182 |
| Net Land, buildings, and equipment | $272,288,493 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,156,450 |
| Intangible assets | $0 |
| Other assets | $2,473,562 |
| Total assets | $290,540,608 |
| Accounts payable and accrued expenses | $8,525,633 |
| Grants payable | $0 |
| Deferred revenue | $139,356 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $55,483 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $180,248,051 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,237,174 |
| Total liabilities | $193,205,697 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $686,760 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $96,648,151 |
| Total liabilities and net assets/fund balances | $290,540,608 |
Grants Awarded
Over the last fiscal year, Bandera Electric Cooperative Inc has awarded $18,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Boerne, TX PURPOSE: HELP PROVIDE FOOD TO NEEDY PEOPLE IN OUR SERVICE TERRITORY | $12,500 |
Bandera, TX PURPOSE: BUCK FEST TITLE SPONSORSHIP | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $3,229,605,813 | $252,635,175 |
Dixie Electric Membership Corporation Baton Rouge, LA | $725,178,434 | $239,155,259 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $657,902,626 | $247,741,918 |
Southwest Louisiana Electric Lafayette, LA | $508,237,761 | $245,337,577 |