Fayette Electric Cooperative Inc
- Assets
- $95.9m
- Revenue
- $35.4m
- Investments
- $0.0
- Employees
- 43
- Location
- La Grange, TX
- Founding
- 07/1939
- Data as of
- 12/2022
- EIN
- 74-0620793
Organization Overview
Fayette Electric Cooperative Inc is located in La Grange, TX. The organization was established in 1939. 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, Fayette Electric Cooperative Inc employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fayette 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 12/2022, Fayette Electric Cooperative Inc generated $35.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $35.6m during the year ending 12/2022. While expenses have increased by 1.1% 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 RELIABLE, COST EFFECTIVE ELECTRIC SERVICE TO OUR MEMBER-OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC ENERGY TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 15,912 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David G Lehmann President | OfficerTrustee | 3.1 | $17,901 |
Joseph C Kruppa Vice President | OfficerTrustee | 6.8 | $19,931 |
Bill Briscoe Secretary/treasurer | OfficerTrustee | 2 | $17,931 |
David A Stancik Director | Trustee | 6.7 | $19,111 |
Leo C Henke Jr Director | Trustee | 4.7 | $17,511 |
David Anderle Director | Trustee | 5.4 | $18,111 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Smith Power Line Construction Llc Construction And Row Contractor | 12/30/22 | $4,735,206 |
Schneider Engineering Inc Engineering Services | 12/30/22 | $260,336 |
Columbus Tree & Lawn Tree Trimming Contractor | 12/30/22 | $261,815 |
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 | $35,251,921 |
| Investment income | $45,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $382 |
| 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 | $81,460 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,384,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,009 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $903,998 |
| Compensation of current officers, directors, key employees. | $356,653 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,027,382 |
| Pension plan accruals and contributions | $317,458 |
| Other employee benefits | $603,799 |
| Payroll taxes | $168,288 |
| 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 | $2,114,862 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,201,540 |
| Insurance | $0 |
| All other expenses | $9,326 |
| Total functional expenses | $35,582,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,338 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,304,041 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,271,136 |
| Prepaid expenses and deferred charges | $4,389,878 |
| Net Land, buildings, and equipment | $81,647,562 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,464,534 |
| Intangible assets | $0 |
| Other assets | $651,791 |
| Total assets | $95,911,280 |
| Accounts payable and accrued expenses | $4,432,871 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $156,615 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $47,223,996 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,508,729 |
| Total liabilities | $59,322,211 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $237,450 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $36,351,619 |
| Total liabilities and net assets/fund balances | $95,911,280 |