Hamilton County Electric Cooperative Association
- Assets
- $97.3m
- Revenue
- $43.0m
- Investments
- $0.0
- Employees
- 45
- Location
- Hamilton, TX
- Founding
- 10/1939
- Data as of
- 12/2022
- EIN
- 74-0667584
Organization Overview
Hamilton County Electric Cooperative Association is located in Hamilton, TX. The organization was established in 1939. 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, Hamilton County Electric Cooperative Association employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hamilton County Electric Cooperative Association 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, Hamilton County Electric Cooperative Association generated $43.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $44.4m during the year ending 12/2022. While expenses have increased by 7.5% 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
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 19,936 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Caldwell Director | Trustee | 3.4 | $7,470 |
Sam Campbell Director | Trustee | 3.5 | $7,265 |
Dustin Duncan Vice President | OfficerTrustee | 4.6 | $6,750 |
Brandon Haile Secretary/treasurer | OfficerTrustee | 2.8 | $7,835 |
Ervin Koerth Director | Trustee | 3.3 | $7,424 |
John Priddy Director | Trustee | 2.5 | $6,900 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northeast Services Inc Tree Trimming | 12/30/22 | $831,768 |
Nisc Billing & It Services | 12/30/22 | $272,741 |
Empact Engineering Llc Engineering & Staking Services | 12/30/22 | $203,966 |
Vinson & Elkins Llp Legal Services | 12/30/22 | $173,095 |
935 Group Llc Tree Trimming | 12/30/22 | $111,026 |
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 | $42,458,367 |
| Investment income | $140,524 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,833 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,983,209 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,325 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,157,242 |
| Compensation of current officers, directors, key employees. | $339,397 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,629,677 |
| Pension plan accruals and contributions | $302,905 |
| Other employee benefits | $223,118 |
| Payroll taxes | $133,384 |
| 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 | $1,377,183 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,647,143 |
| Insurance | $0 |
| All other expenses | $21,614 |
| Total functional expenses | $44,430,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,786,955 |
| Savings and temporary cash investments | $2,729,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,886,400 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $401,246 |
| Prepaid expenses and deferred charges | $388,743 |
| Net Land, buildings, and equipment | $66,347,147 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,667,361 |
| Intangible assets | $0 |
| Other assets | $2,084,517 |
| Total assets | $97,291,590 |
| Accounts payable and accrued expenses | $4,143,048 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $62,842 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $41,191,049 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,956,245 |
| Total liabilities | $49,353,184 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $129,837 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $47,808,569 |
| Total liabilities and net assets/fund balances | $97,291,590 |