Nueces Electric Cooperative Inc
- Assets
- $212.1m
- Revenue
- $88.7m
- Investments
- $30.1m
- Employees
- 103
- Location
- Robstown, TX
- Founding
- 05/1940
- Data as of
- 12/2021
- EIN
- 74-0811772
Organization Overview
Nueces Electric Cooperative Inc is located in Robstown, 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, Nueces Electric Cooperative Inc employed 103 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nueces 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, Nueces Electric Cooperative Inc generated $88.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $88.6m during the year ending 12/2021. While expenses have increased by 0.1% 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.
Since 2017, Nueces Electric Cooperative Inc has awarded 11 individual grants totaling $123,500. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS 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 49,036 ACTIVE SERVICES AT YEAR END.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Varzavand Irani CEO | Officer | 50 | $264,125 |
Sarah Fisher Coo/assistant General Manager | Officer | 50 | $181,718 |
Juan Rivera Journey Line Worker | 63 | $177,340 | |
Robert Holloway Journey Line Worker | 58 | $156,395 | |
Adriana Pena CFO | Officer | 46 | $150,585 |
Christopher Tiner Journey Line Worker | 55 | $142,818 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
South Texas Electric Co-op Inc Retail Billing | 12/30/21 | $1,646,011 |
Urban Electrical Services Inc Line Construction | 12/30/21 | $1,237,273 |
Morehead Dotts & Associates Advertising | 12/30/21 | $1,119,690 |
Energy Services Group Llc Retail Billing System | 12/30/21 | $557,426 |
Asplundh Tree Expert Co Tree Trimming | 12/30/21 | $544,424 |
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 | $87,521,103 |
| Investment income | $1,128,983 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,725 |
| Net Gain/Loss on Asset Sales | $3,872 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,362 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $88,707,765 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,584 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,438,361 |
| Compensation of current officers, directors, key employees. | $1,296,985 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,737,556 |
| Pension plan accruals and contributions | $428,636 |
| Other employee benefits | $832,010 |
| Payroll taxes | $330,245 |
| 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 | $3,280,309 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,383,335 |
| Insurance | $0 |
| All other expenses | $2,362,344 |
| Total functional expenses | $88,584,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,300,946 |
| Savings and temporary cash investments | $500,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,836,669 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,888,101 |
| Prepaid expenses and deferred charges | $997,180 |
| Net Land, buildings, and equipment | $118,909,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $30,064,010 |
| Investments—program-related | $47,962,137 |
| Intangible assets | $0 |
| Other assets | $2,637,560 |
| Total assets | $212,095,793 |
| Accounts payable and accrued expenses | $6,837,504 |
| Grants payable | $0 |
| Deferred revenue | $8,239,627 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $263,749 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $73,618,435 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,947,810 |
| Total liabilities | $94,907,125 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $514,135 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $116,674,533 |
| Total liabilities and net assets/fund balances | $212,095,793 |
Grants Awarded
Over the last fiscal year, Nueces Electric Cooperative Inc has awarded $30,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Corpus Christi, TX PURPOSE: 2021 BUC DAY MILITARY APPRECIATION AND 2021 BUD DAY SPONSORSHIP. | $20,500 |
Robstown, TX PURPOSE: CHARITIES DONATIONS 2021 | $10,000 |
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 |