Grayson-Collin Electric Cooperative Inc
- Assets
- $551.5m
- Revenue
- $205.3m
- Investments
- $0.0
- Employees
- 141
- Location
- Van Alstyne, TX
- Founding
- 03/1939
- Data as of
- 12/2022
- EIN
- 75-0300645
Organization Overview
Grayson-Collin Electric Cooperative Inc is located in Van Alstyne, 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 12/2022, Grayson-Collin Electric Cooperative Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grayson-Collin 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, Grayson-Collin Electric Cooperative Inc generated $205.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $203.3m during the year ending 12/2022. While expenses have increased by 7.2% 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 75,221 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Ellis Director | Trustee | 4 | $44,066 |
Jim Copeland Secretary/treasurer | OfficerTrustee | 4 | $43,916 |
Paul Kirkland Vice President | OfficerTrustee | 4 | $30,363 |
Dennis Ferguson Director | Trustee | 4 | $17,432 |
Steve Robinson President | OfficerTrustee | 4 | $17,382 |
David Mcginnis General Manager/ceo | Officer | 60 | $420,947 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vaquero Underground Services Llc Underground Construction | 12/30/22 | $12,182,872 |
Apex Line Clearance Llc Tree Trimming | 12/30/22 | $2,359,248 |
Trees Inc Tree Trimming | 12/30/22 | $1,304,359 |
Cavender Dozer & Excavation Llc Substation Construction | 12/30/22 | $1,001,965 |
Techline Construction Llc Overhead Construction | 12/30/22 | $4,428,662 |
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 | $202,968,382 |
| Investment income | $890,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $159,650 |
| Net Gain/Loss on Asset Sales | $117,922 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,305,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $63,091 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $8,412,374 |
| Compensation of current officers, directors, key employees. | $2,838,057 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,783,539 |
| Pension plan accruals and contributions | $451,819 |
| Other employee benefits | $542,590 |
| Payroll taxes | $664,740 |
| 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 | $10,912,226 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,063,036 |
| Insurance | $0 |
| All other expenses | $223,582 |
| Total functional expenses | $203,332,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,380,555 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,268,141 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,897,619 |
| Inventories for sale or use | $278,632 |
| Prepaid expenses and deferred charges | $506,886 |
| Net Land, buildings, and equipment | $453,136,475 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $59,323,008 |
| Intangible assets | $0 |
| Other assets | $3,712,776 |
| Total assets | $551,504,092 |
| Accounts payable and accrued expenses | $29,782,430 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $309,769 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $355,845,941 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,526,055 |
| Total liabilities | $403,464,195 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,211,420 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $146,828,477 |
| Total liabilities and net assets/fund balances | $551,504,092 |
Grants Awarded
Over the last fiscal year, Grayson-Collin Electric Cooperative Inc has awarded $13,704 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VAN ALSTYNE HIGH SCHOOL PURPOSE: DONATION FOR ATHLETIC TEAMS. | $8,354 |
VAN ALSTYNE EDUCATION FOUNDATION PURPOSE: DONATION FOR EDUCATION. | $5,350 |