Southwest Texas Electric Cooperative Inc
- Assets
- $86.4m
- Revenue
- $28.0m
- Investments
- $175.0
- Employees
- 59
- Location
- Eldorado, TX
- Founding
- 10/1948
- Data as of
- 12/2023
- EIN
- 75-0696759
Organization Overview
Southwest Texas Electric Cooperative Inc is located in Eldorado, TX. The organization was established in 1948. 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, Southwest Texas Electric Cooperative Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Texas 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, Southwest Texas Electric Cooperative Inc generated $28.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $27.9m during the year ending 12/2023. While expenses have increased by 1.4% 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
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 9,918 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Jackson President | OfficerTrustee | 3 | $22,987 |
Steve Williams Vice President | OfficerTrustee | 2.8 | $11,758 |
Mary Buchholz Secretary | OfficerTrustee | 1.3 | $32,536 |
Eugene Vinson Treasurer | OfficerTrustee | 1.5 | $9,775 |
Dawson Owens Director | Trustee | 1 | $12,587 |
Keith Wallace Director | Trustee | 1.2 | $32,536 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James Power Line Construction Powerline Construction | 12/30/23 | $1,972,220 |
Panhandle Power Pole Protection Llc Pole Testing/treatment | 12/30/23 | $123,118 |
Schneider Engineering Ltd Electrical Engineers | 12/30/23 | $108,652 |
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 | $28,805,021 |
| Investment income | $389,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,000 |
| Net Gain/Loss on Asset Sales | -$1,281,734 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $63,793 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,005,270 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,196 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,525,836 |
| Compensation of current officers, directors, key employees. | $385,483 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,250,988 |
| Pension plan accruals and contributions | $320,528 |
| Other employee benefits | $655,021 |
| Payroll taxes | $157,737 |
| 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 | $992,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,649,635 |
| Insurance | $0 |
| All other expenses | $137,017 |
| Total functional expenses | $27,913,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,161,545 |
| Savings and temporary cash investments | $7,500,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,796,318 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,378,383 |
| Prepaid expenses and deferred charges | $2,175,150 |
| Net Land, buildings, and equipment | $52,385,206 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $175 |
| Investments—program-related | $18,095,702 |
| Intangible assets | $0 |
| Other assets | $887,007 |
| Total assets | $86,379,486 |
| Accounts payable and accrued expenses | $1,918,827 |
| 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 | $24,028,841 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,932,269 |
| Total liabilities | $28,879,937 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $13,055 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $57,486,494 |
| Total liabilities and net assets/fund balances | $86,379,486 |