Northeast Texas Electric Coop Inc
- Assets
- $329.5m
- Revenue
- $288.7m
- Investments
- $0.0
- Employees
- 5
- Location
- Longview, TX
- Founding
- 02/1979
- Data as of
- 12/2021
- 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 12/2021, Northeast Texas Electric Coop Inc employed 5 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 12/2021, Northeast Texas Electric Coop Inc generated $288.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $286.0m during the year ending 12/2021. While expenses have increased by 3.5% 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
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
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Ray Gm/ceo | Officer | 40 | $248,379 |
Caleb Head CFO | Officer | 40 | $169,541 |
Richard Tyler Former Gm/ceo | Officer | 40 | $125,663 |
Frankie B King President | OfficerTrustee | 4 | $22,500 |
Mark Boyd Vice President | OfficerTrustee | 4 | $16,300 |
Trey Teaff Asst Sec/tres | OfficerTrustee | 6 | $15,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Holland & Knight Llp Legal | 12/30/21 | $727,513 |
Gds & Associates Inc Engineering | 12/30/21 | $723,956 |
Psi Services Communications Svcs | 12/30/21 | $544,364 |
General Electric International Inc Lt Maintenance Svcs | 12/30/21 | $342,654 |
Entergy Power Operations Us Management Svcs | 12/30/21 | $441,959 |
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 | $288,187,986 |
| Investment income | $231,863 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $254,421 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $288,674,270 |
| 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. | $860,136 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,166 |
| Pension plan accruals and contributions | $66,547 |
| Other employee benefits | $47,492 |
| Payroll taxes | $42,401 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,148,916 |
| Fees for services: Accounting | $487,101 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $702,888 |
| Advertising and promotion | $0 |
| Office expenses | $78,819 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,108 |
| Travel | $23,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,035 |
| Interest | $5,231,134 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,964,297 |
| Insurance | $170,091 |
| All other expenses | $33,939,489 |
| Total functional expenses | $285,980,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,596,053 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,215,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,429,491 |
| Prepaid expenses and deferred charges | $107,559,604 |
| Net Land, buildings, and equipment | $121,032,588 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,651,065 |
| Total assets | $329,483,821 |
| Accounts payable and accrued expenses | $17,640,883 |
| 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 | $184,522,999 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,551,196 |
| Total liabilities | $206,715,078 |
| 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 | $122,738,743 |
| Total liabilities and net assets/fund balances | $329,483,821 |
Peer Organizations
| 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 |