Northeast Texas Electric Coop Inc
- Assets
- $321.4m
- Revenue
- $309.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Longview, TX
- Founding
- 02/1979
- Data as of
- 12/2022
- EIN
- 75-1615421
Organization Overview
Northeast Texas Electric Coop Inc is located in Longview, TX. The organization was established in 1979. 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, Northeast Texas Electric Coop Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Texas Electric Coop 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, Northeast Texas Electric Coop Inc generated $309.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $307.1m during the year ending 12/2022. While expenses have increased by 4.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NTEC PROVIDES WHOLESALE ELECTRIC GENERATING, PURCHASING, AND TRANSMISSION TO ITS MEMBER ELECTRIC COOPERATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COSTS INCURRED WITH PROVIDING WHOLESALE ELECTRIC ENERGY TO 6 ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS WHO IN TURN PROVIDE ELECTRICITY TO OVER 165,000 RETAIL MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Ray Gm/ceo | Officer | 40 | $303,781 |
Caleb Head CFO | Officer | 40 | $190,626 |
Bryan Wood President | OfficerTrustee | 7 | $18,900 |
Frankie B King Director | OfficerTrustee | 2 | $18,600 |
Trey Teaff Sec/treasurer | OfficerTrustee | 2 | $16,100 |
Cathy Roberts Director | Trustee | 3 | $16,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gds & Associates Inc Engineering | 12/30/22 | $747,279 |
Psi Services Communications Svcs | 12/30/22 | $562,284 |
General Electric International Inc Lt Maintenance Svcs | 12/30/22 | $486,769 |
Holland & Knight Llp Legal | 12/30/22 | $395,447 |
Entergy Power Operations Us Management Svcs | 12/30/22 | $469,994 |
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 | $309,515,620 |
| Investment income | $287,548 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $309,803,168 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $847,938 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,557 |
| Pension plan accruals and contributions | $14,270 |
| Other employee benefits | $27,712 |
| Payroll taxes | $31,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $859,785 |
| Fees for services: Accounting | $334,871 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $683,009 |
| Advertising and promotion | $0 |
| Office expenses | $76,828 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,108 |
| Travel | $31,687 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,292 |
| Interest | $6,019,866 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,582,452 |
| Insurance | $188,428 |
| All other expenses | $17,744,900 |
| Total functional expenses | $307,095,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,828,458 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $47,220,056 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,722,260 |
| Prepaid expenses and deferred charges | $93,652,032 |
| Net Land, buildings, and equipment | $116,131,913 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,843,478 |
| Total assets | $321,398,197 |
| Accounts payable and accrued expenses | $21,958,076 |
| 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 | $167,004,789 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,959,237 |
| Total liabilities | $195,922,102 |
| 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 | $30,000 |
| Retained earnings, endowment, accumulated income, or other funds | $125,446,095 |
| Total liabilities and net assets/fund balances | $321,398,197 |