Pedernales Electric Cooperative Inc
- Assets
- $2.2b
- Revenue
- $882.8m
- Investments
- $0.0
- Employees
- 1,015
- Location
- Johnson City, TX
- Founding
- 09/1940
- Data as of
- 12/2023
- EIN
- 74-0828412
Organization Overview
Pedernales Electric Cooperative Inc is located in Johnson City, 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 12/2023, Pedernales Electric Cooperative Inc employed 1,015 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pedernales 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 12/2023, Pedernales Electric Cooperative Inc generated $882.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $879.4m during the year ending 12/2023. While expenses have increased by 4.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DELIVER LOW-COST, RELIABLE AND SAFE ELECTRIC ENERGY TO THE 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 403,712 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Lea Sj Akers Director | Trustee | 10 | $36,100 |
Travis Cox Secretary/treasurer | OfficerTrustee | 13 | $36,600 |
Mark Ekrut President | OfficerTrustee | 18 | $37,200 |
Paul Graf Vice President | OfficerTrustee | 14.3 | $37,200 |
James Oakley Director | Trustee | 8 | $36,100 |
Emily Pataki Director | Trustee | 14 | $36,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James Power Line Construction Electric Dist Line Construction | 12/30/23 | $15,294,295 |
Lambda Construction Ltd Construction | 12/30/23 | $11,101,911 |
Jrd Llc Construction | 12/30/23 | $6,716,101 |
Pannell Contracting Llc Construction | 12/30/23 | $8,628,439 |
Holder Construction Group Llc Construction | 12/30/23 | $6,664,402 |
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 | $877,807,193 |
| Investment income | $662,407 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$75,404 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $882,753,381 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $52,777,517 |
| Compensation of current officers, directors, key employees. | $5,628,312 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,456,105 |
| Pension plan accruals and contributions | $5,787,883 |
| Other employee benefits | $5,804,864 |
| Payroll taxes | $4,096,698 |
| 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 | $44,587,166 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,399,068 |
| Insurance | $0 |
| All other expenses | $6,869,333 |
| Total functional expenses | $879,429,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,387,692 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,246,836 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,380,454 |
| Prepaid expenses and deferred charges | $3,630,644 |
| Net Land, buildings, and equipment | $2,008,322,261 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,291,386 |
| Intangible assets | $0 |
| Other assets | $84,733,370 |
| Total assets | $2,211,992,643 |
| Accounts payable and accrued expenses | $113,421,533 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $96,425 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,125,382,139 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $91,988,582 |
| Total liabilities | $1,330,888,679 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $16,764,167 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $864,339,797 |
| Total liabilities and net assets/fund balances | $2,211,992,643 |