Guadalupe Valley Electric Cooperative Inc
- Assets
- $960.0m
- Revenue
- $333.5m
- Investments
- $0.0
- Employees
- 432
- Location
- Gonzales, TX
- Founding
- 08/2004
- Data as of
- 12/2022
- EIN
- 74-3023938
Organization Overview
Guadalupe Valley Electric Cooperative Inc is located in Gonzales, TX. The organization was established in 2004. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Guadalupe Valley Electric Cooperative Inc employed 432 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Guadalupe Valley 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, Guadalupe Valley Electric Cooperative Inc generated $333.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $329.7m during the year ending 12/2022. While expenses have increased by 5.4% 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 RELIABLE ELECTRIC & INTERNET SERVICE ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC DIVISION:SALE OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 95,782 ACTIVE SERVICES AT YEAR END.
INTERNET/BROADBAND SERVICE DIVISION:PROVIDING FIBER INTERNET SERVICES TO ITS MEMBERS THROUGH A COMBINATION OF WIRELESS AND FIBER-TO-THE-HOME TECHNOLOGIES. SERVICES OF THIS DIVISION WILL BE PROVIDED TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL TO THE EXTENT OF MARGINS FOR SUCH DIVISION. FIBER AND WIRELESS INTERNET IS ALSO PROVIDED TO NON-MEMBERS ON A NON-PATRONAGE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Birdwell Chairman | OfficerTrustee | 20 | $51,542 |
Leo York Director | Trustee | 8.21 | $49,292 |
Henry Schmidt Vice President | OfficerTrustee | 10 | $41,192 |
Lewis Borgfeld Director | Trustee | 10 | $38,483 |
Morris Harvey Secretary/treasurer | OfficerTrustee | 6.8 | $35,792 |
Mark Roberts Director | Trustee | 5.2 | $30,486 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tlt Construction Co Inc Line Construction | 12/30/22 | $8,114,013 |
Lambda Construction Ltd Line Construction | 12/30/22 | $6,620,950 |
Source Power Llc Oh Construction | 12/30/22 | $5,207,681 |
Northstar Energy Solutions Electric Construction | 12/30/22 | $3,533,768 |
Amp Utility Company Llc Line Construction | 12/30/22 | $3,305,824 |
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 | $327,990,887 |
| Investment income | $654,716 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,602 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $333,516,518 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $121,214 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $23,699,117 |
| Compensation of current officers, directors, key employees. | $3,675,427 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,101,958 |
| Pension plan accruals and contributions | $1,874,883 |
| Other employee benefits | $2,990,021 |
| Payroll taxes | $1,583,949 |
| 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 | $10,747,706 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,208,317 |
| Insurance | $0 |
| All other expenses | $7,963,860 |
| Total functional expenses | $329,697,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,129,184 |
| Savings and temporary cash investments | $271,799 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,767,319 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,485,698 |
| Inventories for sale or use | $103,499 |
| Prepaid expenses and deferred charges | $184,802,461 |
| Net Land, buildings, and equipment | $697,439,627 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,326,230 |
| Intangible assets | $3,198,584 |
| Other assets | $11,522,485 |
| Total assets | $960,046,886 |
| Accounts payable and accrued expenses | $37,610,053 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $90,362 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $506,207,770 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,127,542 |
| Total liabilities | $565,035,727 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,010,181 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $389,000,978 |
| Total liabilities and net assets/fund balances | $960,046,886 |
Grants Awarded
Over the last fiscal year, Guadalupe Valley Electric Cooperative Inc has awarded $106,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TSTC FOUNDATION PURPOSE: CONTRIBUTION FOR DEVELOPMENT OF TRADE SKILLS | $100,000 |
GONZALES HEALTHCARE SYSTEMS FOUNDATION PURPOSE: 2022 CONTRIBUTION | $6,000 |