Navarro County Electric Cooperative Inc
- Assets
- $103.0m
- Revenue
- $49.3m
- Investments
- $0.0
- Employees
- 42
- Location
- Corsicana, TX
- Founding
- 03/1939
- Data as of
- 12/2021
- EIN
- 75-0458545
Organization Overview
Navarro County Electric Cooperative Inc is located in Corsicana, 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 12/2021, Navarro County Electric Cooperative Inc employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Navarro County 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 12/2021, Navarro County Electric Cooperative Inc generated $49.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $47.5m during the year ending 12/2021. While expenses have increased by 2.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COOPERATIVE WAS ESTABLISHED TO PROVIDE ELECTRICITY TO OUR MEMBERS IN THE RURAL COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICITY TO OUR MEMBERS IN THE RURAL COMMUNITIES WE SERVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Billy P Jones General Manager/ceo | Officer | 45 | $217,673 |
Lindy Shaw Mgr Of Administrative Services | 45 | $151,789 | |
Jerad Taylor Construction Foreman | 53 | $128,566 | |
Jill Sadberry Office Manager/cfo | Officer | 40 | $122,667 |
Mark Rash Manager Of Member Services | 40 | $121,416 | |
Mike Lawrence Mgr Of Construction/operations | 40 | $119,661 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northeast Service Inc Tree Trimming | 12/30/21 | $1,628,113 |
Sh Powerline Construction Line Construction | 12/30/21 | $720,811 |
Electric Power Engineers Inc Engineering | 12/30/21 | $118,680 |
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 | $48,940,654 |
| Investment income | $289,880 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $48,296 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,278,830 |
| 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 | $1,434,996 |
| Compensation of current officers, directors, key employees. | $704,929 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $108,592 |
| Pension plan accruals and contributions | $544,698 |
| Other employee benefits | $793,225 |
| Payroll taxes | $279,379 |
| 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 | $371,008 |
| Advertising and promotion | $32,561 |
| Office expenses | $116,724 |
| Information technology | $26,573 |
| Royalties | $0 |
| Occupancy | $89,863 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,565 |
| Interest | $911,727 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,364,632 |
| Insurance | $38,050 |
| All other expenses | $182,426 |
| Total functional expenses | $47,476,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,277 |
| Savings and temporary cash investments | $5,570,496 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,765,284 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $677,566 |
| Prepaid expenses and deferred charges | $198,301 |
| Net Land, buildings, and equipment | $60,191,497 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $30,077,427 |
| Intangible assets | $0 |
| Other assets | $376,706 |
| Total assets | $102,970,554 |
| Accounts payable and accrued expenses | $5,406,242 |
| 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 | $23,674,014 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,288,308 |
| Total liabilities | $31,368,564 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $139,330 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $71,462,660 |
| Total liabilities and net assets/fund balances | $102,970,554 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beauregard Electric Cooperative Inc Deridder, LA | $317,710,520 | $130,661,746 |
Mid-South Electric Cooperative Association Navasota, TX | $452,923,341 | $112,304,236 |
Karnes Electric Cooperative Inc Karnes City, TX | $202,970,400 | $101,891,775 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |
Deep East Texas Electric Co-Operative Inc San Augustine, TX | $258,283,792 | $99,942,050 |
Upshur-Rural Electric Cooperative Corporation Gilmer, TX | $245,628,727 | $98,243,041 |
San Bernard Electric Cooperative Incorporated Bellville, TX | $290,497,219 | $97,543,303 |
Lea County Electric Cooperative Inc Lovington, NM | $232,536,118 | $95,597,033 |
Washington-St Tammany Electric Cooperative Inc 1570 Franklinton, LA | $266,667,290 | $97,380,073 |
Bandera Electric Cooperative Inc Bandera, TX | $290,540,608 | $89,188,257 |
Nueces Electric Cooperative Inc Robstown, TX | $212,095,793 | $88,707,765 |
Wood County Electric Cooperative Quitman, TX | $215,165,812 | $87,928,096 |