San Patricio Electric Cooperative
- Assets
- $85.6m
- Revenue
- $33.6m
- Investments
- $0.0
- Employees
- 41
- Location
- Sinton, TX
- Founding
- 09/1940
- Data as of
- 12/2022
- EIN
- 74-0880813
Organization Overview
San Patricio Electric Cooperative is located in Sinton, 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, San Patricio Electric Cooperative employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Patricio 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, San Patricio Electric Cooperative generated $33.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $33.6m during the year ending 12/2022. While expenses have increased by 3.1% 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 12,893 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Mayo President | OfficerTrustee | 5.4 | $8,600 |
Jim Bassett Vice President | OfficerTrustee | 6.6 | $7,200 |
Clyde Stewart Secretary/treasurer | OfficerTrustee | 6.5 | $11,400 |
Bobby Bauch Director | Trustee | 6.9 | $9,300 |
Daren Wilder Director | Trustee | 4.8 | $10,500 |
Tyrne Mengers Director | Trustee | 4.2 | $9,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Urban Electrical Services Inc Electrical | 12/30/22 | $2,119,964 |
Asplundh Tree Expert Co Right Of Way Clearing | 12/30/22 | $752,123 |
Lamar Technical Services Inc Electrical Engineering | 12/30/22 | $202,136 |
Osmose Utilities Services Inc Pole Inspector | 12/30/22 | $199,177 |
Ivm Solutions Tree Trimming | 12/30/22 | $160,463 |
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 | $33,579,725 |
| Investment income | $120,601 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,413 |
| Net Gain/Loss on Asset Sales | -$43 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$161,380 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,604,198 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,701 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,554,695 |
| Compensation of current officers, directors, key employees. | $903,612 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,902,822 |
| Pension plan accruals and contributions | $170,417 |
| Other employee benefits | $504,489 |
| Payroll taxes | $183,263 |
| 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 | $1,015,918 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,173,278 |
| Insurance | $0 |
| All other expenses | $61,456 |
| Total functional expenses | $33,604,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,848,635 |
| Savings and temporary cash investments | $2,811,362 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,742,488 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,051 |
| Prepaid expenses and deferred charges | $193,119 |
| Net Land, buildings, and equipment | $54,476,268 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $23,939,391 |
| Intangible assets | $0 |
| Other assets | $598,741 |
| Total assets | $85,637,055 |
| Accounts payable and accrued expenses | $1,782,939 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $35,289,633 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $622,339 |
| Total liabilities | $37,694,911 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $26,690 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $47,915,454 |
| Total liabilities and net assets/fund balances | $85,637,055 |