Deep East Texas Electric Co-Operative Inc
- Assets
- $281.4m
- Revenue
- $114.3m
- Investments
- $1.7m
- Employees
- 144
- Location
- San Augustine, TX
- Founding
- 11/1939
- Data as of
- 12/2023
- EIN
- 75-0229997
Organization Overview
Deep East Texas Electric Co-Operative Inc is located in San Augustine, TX. The organization was established in 1939. 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, Deep East Texas Electric Co-Operative Inc employed 144 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Deep East Texas Electric Co-Operative 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, Deep East Texas Electric Co-Operative Inc generated $114.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $114.3m during the year ending 12/2023. While expenses have increased by 1.9% 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
DEEP EAST TEXAS ELECTRIC COOPERATIVE WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING ELECTRICITY AND RELATED SERVICES TO RURAL CONSUMERS IN EAST TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEEP EAST TEXAS ELECTRIC COOPERATIVE WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING ELECTRICITY AND RELATED SERVICES TO RURAL CONSUMERS IN EAST TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William A Speights President | OfficerTrustee | 9 | $20,717 |
Micha Miller Vice-Preside | OfficerTrustee | 3.5 | $18,565 |
Ronnie Greer Secretary/tr | OfficerTrustee | 4.75 | $19,517 |
Bryan Wood General Mana | Officer | 55 | $315,204 |
Gina Evett Admin Direct | Officer | 40 | $153,937 |
Serica Wilkins Director | Trustee | 5 | $18,465 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shelton Energy Solutions Pole Replacemnt | 12/30/23 | $1,944,239 |
Linetec Services Llc Line Contractor | 12/30/23 | $1,449,944 |
Hoffpauir Tree Service Inc Tree Trimming | 12/30/23 | $1,338,021 |
Treexperts Professional Service Llc Right Of Way | 12/30/23 | $1,231,772 |
Echo Powerline Holdings Llc Powerline Insta | 12/30/23 | $904,086 |
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 | $113,980,942 |
| Investment income | $169,928 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,589 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $44,389 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $114,338,527 |
| 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 | $1,103,490 |
| Compensation of current officers, directors, key employees. | $815,072 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $4,938,541 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,012,347 |
| Insurance | $0 |
| All other expenses | $4,098,769 |
| Total functional expenses | $114,338,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,233,785 |
| Savings and temporary cash investments | $940,697 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,104,156 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,831 |
| Inventories for sale or use | $4,989,488 |
| Prepaid expenses and deferred charges | $1,975,373 |
| Net Land, buildings, and equipment | $207,239,443 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,725,099 |
| Investments—program-related | $46,144,251 |
| Intangible assets | $0 |
| Other assets | $26,386 |
| Total assets | $281,399,509 |
| Accounts payable and accrued expenses | $20,218,342 |
| 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 | $146,988,862 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,539,870 |
| Total liabilities | $170,747,074 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $110,652,435 |
| Total liabilities and net assets/fund balances | $281,399,509 |