J-A-C Electric Cooperative Inc
- Assets
- $43.0m
- Revenue
- $17.6m
- Investments
- $0.0
- Employees
- 18
- Location
- Henrietta, TX
- Founding
- 09/1940
- Data as of
- 12/2023
- EIN
- 75-0357146
Organization Overview
J-A-C Electric Cooperative Inc is located in Henrietta, 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, J-A-C Electric Cooperative Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. J-A-C 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, J-A-C Electric Cooperative Inc generated $17.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $17.6m during the year ending 12/2023. While expenses have increased by 9.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRICITY TO RURAL AND SURROUNDING COMMUNITIES ON A COOPERATIVE BASIS AND AT THE MOST REASONABLE PRICE POSSIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY TO OUR MEMBERS - 5,960 ACTIVE SERVICES AT YEAR-END (7,465 TOTAL SERVICES IN PLACE - 1,505 IDLE SERVICES)WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Troy S Wiley General Mana | Officer | 50 | $156,020 |
Bill Pursley Director/sec | OfficerTrustee | 4 | $29,540 |
Elaine Martin President | OfficerTrustee | 4 | $28,389 |
Marvin Joe Geis Director | Trustee | 4 | $27,276 |
Kendall Browning Director | Trustee | 4 | $21,561 |
Kenneth Teichman Director | Trustee | 4 | $20,632 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alliance Leasing Llc Pole Installs | 12/30/23 | $904,788 |
Hardin Tree Inc Tree Clearing | 12/30/23 | $730,459 |
Graham Poleline Ltd Pole Changes | 12/30/23 | $504,693 |
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 | $17,362,202 |
| Investment income | $59,955 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,220 |
| Net Gain/Loss on Asset Sales | $6,300 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $15,047 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,565,899 |
| 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 | $957,590 |
| Compensation of current officers, directors, key employees. | $408,837 |
| 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 | $637,496 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $891,922 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $17,565,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,920 |
| Savings and temporary cash investments | $593,512 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,804,879 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $631,815 |
| Prepaid expenses and deferred charges | $313,540 |
| Net Land, buildings, and equipment | $19,840,557 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,621,905 |
| Intangible assets | $0 |
| Other assets | $11,940,347 |
| Total assets | $43,030,475 |
| Accounts payable and accrued expenses | $1,378,472 |
| 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 | $12,903,399 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,898,294 |
| Total liabilities | $16,180,165 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $59,975 |
| Paid-in or capital surplus, or land, building, or equipment fund | $91,731 |
| Retained earnings, endowment, accumulated income, or other funds | $26,698,604 |
| Total liabilities and net assets/fund balances | $43,030,475 |