Jasper-Newton Electric Cooperative
- Assets
- $156.0m
- Revenue
- $65.2m
- Investments
- $0.0
- Employees
- 133
- Location
- Kirbyville, TX
- Founding
- 05/1944
- Data as of
- 12/2022
- EIN
- 74-0711255
Organization Overview
Jasper-Newton Electric Cooperative is located in Kirbyville, 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, Jasper-Newton Electric Cooperative employed 133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jasper-Newton Electric Cooperative 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, Jasper-Newton Electric Cooperative generated $65.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $65.2m during the year ending 12/2022. While expenses have increased by 2.3% 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 ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
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 23,630 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Biscamp President | OfficerTrustee | 2 | $10,001 |
Patrick Brown Director | Trustee | 6.2 | $14,001 |
Tracey Reagan Clotiaux Secretary/treasurer (jan-Aug) | OfficerTrustee | 1.5 | $6,134 |
David Jones Director | Trustee | 4.2 | $20,801 |
Dennis Muldrow Director | Trustee | 14 | $22,291 |
Mack Rose Vice President | OfficerTrustee | 30.4 | $15,601 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bright Star Solutions Inc Utility Contractor Work | 12/30/22 | $712,109 |
Hoffpauir Tree Service Inc Row Tree Trimming | 12/30/22 | $461,749 |
Power Engineers Inc Professional Engineering Services | 12/30/22 | $346,434 |
Clear View Unlimited Inc Row Tree Trimming | 12/30/22 | $311,059 |
Osmose Utilities Service Inc Pole Testing | 12/30/22 | $159,364 |
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 | $65,114,603 |
| Investment income | $68,520 |
| 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 | $10,132 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,226,638 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,685 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,665,373 |
| Compensation of current officers, directors, key employees. | $653,502 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,413,200 |
| Pension plan accruals and contributions | $1,378,204 |
| Other employee benefits | $1,589,254 |
| Payroll taxes | $413,084 |
| 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 | $2,321,060 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,910,511 |
| Insurance | $0 |
| All other expenses | $449,375 |
| Total functional expenses | $65,226,638 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,793,974 |
| Savings and temporary cash investments | $155,397 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,671,629 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,264,822 |
| Prepaid expenses and deferred charges | $3,079,181 |
| Net Land, buildings, and equipment | $114,378,839 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $27,812,811 |
| Intangible assets | $0 |
| Other assets | $4,826,300 |
| Total assets | $155,982,953 |
| Accounts payable and accrued expenses | $9,573,346 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $102,375 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $62,453,974 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,701,240 |
| Total liabilities | $80,830,935 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $352,800 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $74,799,218 |
| Total liabilities and net assets/fund balances | $155,982,953 |