Jackson Electric Cooperative Inc
- Assets
- $172.1m
- Revenue
- $85.2m
- Investments
- $0.0
- Employees
- 105
- Location
- Edna, TX
- Founding
- 08/1940
- Data as of
- 12/2022
- EIN
- 74-0708876
Organization Overview
Jackson Electric Cooperative Inc is located in Edna, 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 12/2022, Jackson Electric Cooperative Inc employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jackson 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 12/2022, Jackson Electric Cooperative Inc generated $85.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $81.9m during the year ending 12/2022. While expenses have increased by 5.7% 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 17,184 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Elliott Director | Trustee | 1.8 | $9,750 |
Lh Cornelius Jr President | OfficerTrustee | 1.8 | $9,000 |
William Hansen Vice President | OfficerTrustee | 1.5 | $10,200 |
James Hoffmeister Director | Trustee | 3.5 | $10,050 |
Tom Hudgins Director | Trustee | 1.9 | $10,950 |
Michael Jacobs Secretary/treasurer | OfficerTrustee | 3 | $10,950 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Rural Telecommunications Coop Engineering Services, Metering | 12/30/22 | $532,782 |
Powerline Construction Inc Line Construction | 12/30/22 | $1,733,432 |
Quanta Telecom Svc Llc Fiber Construction | 12/30/22 | $392,759 |
Meridian Cooperative Inc Bill Printing And Computer Support | 12/30/22 | $372,765 |
Mcginnis Lochridge Legal | 12/30/22 | $316,181 |
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 | $77,600,722 |
| Investment income | $182,553 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $102,753 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $60,943 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,179,366 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,347 |
| 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. | $477,081 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,161,486 |
| Pension plan accruals and contributions | $766,844 |
| Other employee benefits | $802,388 |
| Payroll taxes | $355,884 |
| 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 | $3,431,882 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,594,605 |
| Insurance | $0 |
| All other expenses | $4,298,295 |
| Total functional expenses | $81,920,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,807,810 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,919,376 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $368,920 |
| Inventories for sale or use | $6,143,672 |
| Prepaid expenses and deferred charges | $274,508 |
| Net Land, buildings, and equipment | $118,995,218 |
| Investments—publicly traded securities | $4,563,590 |
| Investments—other securities | $0 |
| Investments—program-related | $34,649,589 |
| Intangible assets | $0 |
| Other assets | $327,803 |
| Total assets | $172,050,486 |
| Accounts payable and accrued expenses | $7,789,943 |
| Grants payable | $0 |
| Deferred revenue | $2,847,149 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $104,965 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $91,007,470 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,371,797 |
| Total liabilities | $103,121,324 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $219,580 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $68,709,582 |
| Total liabilities and net assets/fund balances | $172,050,486 |