South Plains Electric Trust
- Assets
- $204.7k
- Revenue
- $233.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 05/1993
- Data as of
- 12/2022
- EIN
- 75-6440983
Organization Overview
South Plains Electric Trust is located in Lubbock, TX. The organization was established in 1993. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Plains Electric Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, South Plains Electric Trust generated $233.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $267.7k during the year ending 12/2022. While expenses have increased by 17.5% per year over the past 8 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
TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS AND THEIR FAMILIES THROUGH SCHOLARSHIPS, SPECIFIC ASSISTANCE, AND CONTRIBUTIONS TO LOCAL CHARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIFIC ASSISTANCE TO INDIVIDUALS WITHIN THE SERVICE AREA WITH ELECTRIC BILLS, CASUALTY LOSSES, AND MEDICAL NEEDS.
SCHOLARSHIPS TO MEMBERS OR THE CHILDREN OF MEMBERS OF SOUTH PLAINS ELECTRIC COOPERATIVE TO ATTEND ACCREDITED COLLEGES OR UNIVERSITIES.
GRANTS AND CONTRIBUTIONS TO AREA CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ginger Whetzel President | OfficerTrustee | 1 | $0 |
Rita Tucker Secretary | OfficerTrustee | 1 | $0 |
Patrica Reynolds Vice President | OfficerTrustee | 1 | $0 |
Brenda Karr Treasurer | OfficerTrustee | 1 | $0 |
Angela Arthur Trustee | Trustee | 1 | $0 |
Kyle Benson Trustee | Trustee | 1 | $0 |
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 | $232,611 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $232,611 |
| Total Program Service Revenue | $0 |
| Investment income | $449 |
| 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 | $233,060 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $174,962 |
| Grants and other assistance to domestic individuals. | $92,735 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $267,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,673 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $204,673 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $20,500 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,500 |
| Net assets without donor restrictions | $184,173 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $204,673 |
Grants Awarded
Over the last fiscal year, South Plains Electric Trust has awarded $69,462 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Austin, TX PURPOSE: TO PROVIDE FUNDS FOR EMERGENCY ASSISTANCE, INCLUDING PROVIDING FOOD VOUCHERS, HYGIENE PRODUCTS, PRESCRIPTIONS AND UTILITY ASSISTANCE. | $44,917 |
TEXAS ELECTRIC COOPERATIVES INC PURPOSE: TO PROVIDE FUNDS TO SEND HIGH SCHOOL STUDENTS TO WASHINGTON DC FOR A YOUTH TOUR. | $14,400 |
Lubbock, TX PURPOSE: TO PROVIDE FUNDS FOR THE ABC RODEO FUNDRAISER. | $10,145 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Social Service Of The South Inc Austin, TX | $61,046,286 | $96,832,412 |
El Centro Del Barrio Inc San Antonio, TX | $91,252,083 | $101,246,096 |
Community Action Project Of Tulsa County Inc Tulsa, OK | $75,774,694 | $60,674,476 |
St Hope Foundation Inc Houston, TX | $24,463,545 | $68,716,621 |
South Plains Community Action Association Inc Levelland, TX | $29,457,762 | $62,394,779 |
Community Action Corporation Of South Texas Alice, TX | $17,286,971 | $61,888,354 |
Catholic Charities Of Dallas Inc Dallas, TX | $38,189,744 | $60,557,267 |
Goodwill Industries Of San Antonio Contract Services San Antonio, TX | $23,203,084 | $40,622,954 |
Texas Pregnancy Care Network Austin, TX | $10,724,863 | $36,961,915 |
West Texas Opportunities Lamesa, TX | $6,432,231 | $36,739,532 |
Catholic Charities Diocese Of Fort Worth Fort Worth, TX | $33,220,571 | $32,415,025 |
Louisiana United Methodist Children And Family Services Inc Ruston, LA | $89,566,145 | $35,567,717 |