Southwest Arkansas Electric Coop Corp
- Assets
- $239.7m
- Revenue
- $75.1m
- Investments
- $24.3m
- Employees
- 87
- Location
- Texarkana, TX
- Founding
- 11/1944
- Data as of
- 12/2021
- EIN
- 71-0166791
Organization Overview
Southwest Arkansas Electric Coop Corp is located in Texarkana, TX. The organization was established in 1944. 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, Southwest Arkansas Electric Coop Corp employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Arkansas Electric Coop Corp 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, Southwest Arkansas Electric Coop Corp generated $75.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $75.1m during the year ending 12/2021. While expenses have increased by 2.1% 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
PROVIDE FIRST CLASS ELECTRIC SERVICE TO THE MEMBERSHIP AT A VALUED PRICE, AND TO PROVIDE OTHER SERVICES THAT ADD VALUE TO THE ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO 18,782 MEMBER ACCOUNTS, 30,030 METERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles W Whitaker President/ceo | 60 | $438,516 | |
Dion Cooper President/ceo | Officer | 60 | $180,512 |
George Wall Vice President Engineering | Officer | 40 | $166,723 |
Kecia Wolf VP Finance And Accounting, Mem | Officer | 45 | $150,718 |
Scott Kennedy Director Of Engineering | 40 | $139,994 | |
Glenn Hays Foreman | 45 | $133,179 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Texar Tree And Timber Right Of Way | 12/30/21 | $1,050,865 |
Aands Tree Service Right Of Way | 12/30/21 | $805,837 |
Pike Electric Inc Line Construction | 12/30/21 | $878,822 |
Mdr Construction Line Construction | 12/30/21 | $2,299,163 |
Conexon Fiber Construction | 12/30/21 | $1,671,220 |
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 | $73,963,571 |
| Investment income | $717,454 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $216,101 |
| Net Gain/Loss on Asset Sales | $38,250 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,107,900 |
| 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 | $4,539,832 |
| Compensation of current officers, directors, key employees. | $1,423,334 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,836,580 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $961,595 |
| 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 | $3,270,712 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,954,904 |
| Insurance | $0 |
| All other expenses | $59,150 |
| Total functional expenses | $75,107,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $493,198 |
| Savings and temporary cash investments | $18,507,168 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,002,164 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $348,354 |
| Inventories for sale or use | $6,084,607 |
| Prepaid expenses and deferred charges | $2,587,639 |
| Net Land, buildings, and equipment | $178,382,592 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,276,929 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,598 |
| Total assets | $239,684,249 |
| Accounts payable and accrued expenses | $13,993,109 |
| 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 | $112,360,963 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,879,757 |
| Total liabilities | $128,233,829 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $106,556,811 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$7,410 |
| Retained earnings, endowment, accumulated income, or other funds | $4,901,019 |
| Total liabilities and net assets/fund balances | $239,684,249 |
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 |