Wood County Electric Cooperative is located in Quitman, TX. The organization was established in 1942. 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, Wood County Electric Cooperative employed 110 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wood County Electric Cooperative 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, Wood County Electric Cooperative generated $87.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $87.9m during the year ending 12/2021. While expenses have increased by 2.7% 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
PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 38,802 METERS DURING THE YEAR ON A COOPERATIVE BASIS AT THE LOWEST COST CONSISTENT WITH SOUND BUSINESS PRINCIPLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY TO AN AVERAGE OF 38,802 METERS AT COST ON A COOPERATIVE NON-PROFIT BASIS FOR THE MUTUAL BENEFIT OF ITS MEMBERS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Trey Teaff General Manager/ceo | Officer | 40 | $189,738 |
Ch Campbell Chief Operating Officer | Officer | 40 | $173,625 |
Summer Coleman Director Of Accounting | Officer | 40 | $91,406 |
Brent Glenn Director | Trustee | 0.8 | $26,583 |
Cathy Roberts President | Trustee | 3.9 | $26,534 |
Jane Roberson Secretary/treasurer | Trustee | 1.7 | $14,814 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Harris Line Service Co Right Of Way Maintenance | 12/30/21 | $1,215,719 |
Northeast Texas Power Inc Distribution Line Construction | 12/30/21 | $1,063,844 |
Roest Construction Boring | 12/30/21 | $557,121 |
Jackson Right Of Way Service Right Of Way Maintenance | 12/30/21 | $478,489 |
Texar Tree And Timber Llc Right Of Way Maintenance | 12/30/21 | $535,002 |
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 | $85,949,207 |
Investment income | $99,664 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $282,187 |
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 | $22,234 |
Miscellaneous Revenue | $0 |
Total Revenue | $87,928,096 |
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 | $7,320,711 |
Compensation of current officers, directors, key employees. | $1,030,362 |
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 | $3,436,123 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $5,873,205 |
Insurance | $0 |
All other expenses | $478,620 |
Total functional expenses | $87,928,096 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,720,422 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $5,212,876 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $951,480 |
Prepaid expenses and deferred charges | $6,982,512 |
Net Land, buildings, and equipment | $163,219,060 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $33,174,983 |
Intangible assets | $84,000 |
Other assets | $2,820,479 |
Total assets | $215,165,812 |
Accounts payable and accrued expenses | $6,612,839 |
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 | $91,612,294 |
Unsecured mortgages and notes payable | $3,159,726 |
Other liabilities | $12,808,372 |
Total liabilities | $114,193,231 |
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 | $100,972,581 |
Total liabilities and net assets/fund balances | $215,165,812 |
Organization Name | Assets | Revenue |
---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $3,229,605,813 | $252,635,175 |
Dixie Electric Membership Corporation Baton Rouge, LA | $725,178,434 | $239,155,259 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $657,902,626 | $247,741,918 |
Southwest Louisiana Electric Lafayette, LA | $508,237,761 | $245,337,577 |