Bluebonnet Electric Cooperative Inc
- Assets
- $731.2m
- Revenue
- $304.6m
- Investments
- $0.0
- Employees
- 390
- Location
- Bastrop, TX
- Founding
- 10/1940
- Data as of
- 12/2022
- EIN
- 74-0754103
Organization Overview
Bluebonnet Electric Cooperative Inc is located in Bastrop, 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, Bluebonnet Electric Cooperative Inc employed 390 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bluebonnet 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, Bluebonnet Electric Cooperative Inc generated $304.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $302.6m during the year ending 12/2022. While expenses have increased by 4.7% 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.
Since 2014, Bluebonnet Electric Cooperative Inc has awarded 110 individual grants totaling $5,305,154. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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 123,388 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Byron Balke Asst Secretary/treasurer | OfficerTrustee | 8.5 | $43,330 |
Bryan Bracewell Director | Trustee | 9.2 | $44,178 |
Roderick Emanuel Vice Chairman | OfficerTrustee | 7.2 | $44,098 |
Ervin B Flencher Jr Chairman | OfficerTrustee | 11 | $48,786 |
Deborah Goertz Director | Trustee | 8.2 | $44,688 |
Russell Jurk Director | Trustee | 9.1 | $44,378 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Burlin Power Line Llc Construction Contractor | 12/30/22 | $5,512,061 |
Over & Under Llc Construction Contractor | 12/30/22 | $4,421,112 |
Linetec Services Llc Construction Contractor | 12/30/22 | $4,129,374 |
The Davey Tree Surgery Company Row Contractor | 12/30/22 | $3,626,429 |
D&j Power Inc Construction Contractor | 12/30/22 | $2,929,640 |
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 | $301,811,551 |
| Investment income | $265,574 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $31,923 |
| Net Rental Income | $600 |
| Net Gain/Loss on Asset Sales | $1,581,496 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $45,902 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $304,607,852 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $362,219 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $33,516,581 |
| Compensation of current officers, directors, key employees. | $3,865,701 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,201,099 |
| Pension plan accruals and contributions | $2,226,051 |
| Other employee benefits | $2,953,496 |
| Payroll taxes | $1,239,101 |
| 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 | $13,768,252 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,724,899 |
| Insurance | $0 |
| All other expenses | $388,363 |
| Total functional expenses | $302,622,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,017,712 |
| Savings and temporary cash investments | $13,996,265 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,629,295 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,294,749 |
| Prepaid expenses and deferred charges | $37,566,498 |
| Net Land, buildings, and equipment | $630,190,868 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,179,406 |
| Intangible assets | $0 |
| Other assets | $3,293,293 |
| Total assets | $731,168,086 |
| Accounts payable and accrued expenses | $36,160,655 |
| Grants payable | $0 |
| Deferred revenue | $516,189 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $606,548 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $347,854,945 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $38,484,693 |
| Total liabilities | $423,623,030 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $644,780 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $306,900,276 |
| Total liabilities and net assets/fund balances | $731,168,086 |
Grants Awarded
Over the last fiscal year, Bluebonnet Electric Cooperative Inc has awarded $100,003 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
LOCKHART CHAMBER OF COMMERCE PURPOSE: CHISHOLM TRAIL ROUNDUP, CHAMBER BANQUET, GOLF TOURNAMENT, VETERANS LUNCHEON | $5,310 |
BASTROP CHAMBER OF COMMERCE PURPOSE: CHAMBER BANQUET, GOLF TOURNAMENT, PATRIOTIC FESTIVAL, 2022 MUSIC FESTIVAL | $5,670 |
CAMP FOR ALL FOUNDATION PURPOSE: 2022 ALOHA BRENHAM GALA TABLE SPONSOR AND CAMP GALA SILENT AND LIVE AUCTION | $5,210 |
HEALING WITH HORSES RANCH PURPOSE: SHARING SUCCESS PROGRAM, LIVE AUCTION, 2022 BARN BASH, AND VETERAN'S GALA | $5,126 |
TRAVIS COUNTY HEALTH & HUMAN SERVICES PURPOSE: PROVIDE HOME ENERGY ASSISTANCE TO LOW-INCOME HOUSEHOLDS | $12,000 |
MANOR CHAMBER OF COMMERCE PURPOSE: 150TH CELEBRATION GOLF TOURNAMENT AND CHAMBER EVENT RECOGNITION SPONSORSHIPS | $5,646 |