Magic Valley Electric Cooperative Inc

Organization Overview

Magic Valley Electric Cooperative Inc is located in Mercedes, 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 12/2021, Magic Valley Electric Cooperative Inc employed 307 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic Valley 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 12/2021, Magic Valley Electric Cooperative Inc generated $266.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $266.7m during the year ending 12/2021. While expenses have increased by 3.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 139,423 ACTIVE SERVICES AT YEAR END.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cooperative Building Solutions
Facility Consulting And Construction Ser
$6,951,138
Meridian Cooperative Inc
Enterprise Software, Financial Services,
$3,188,458
Abc Professional Tree Services Inc
Tree Trimming
$1,371,654
Volt Power
Construction Contractor
$9,704,335
Axis Power Llc
Construction
$911,600
View All Vendors

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$262,147,543
Investment income $74,536
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $6,000
Net Gain/Loss on Asset Sales $57,294
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $266,758,522

Grants Awarded

Over the last fiscal year, Magic Valley Electric Cooperative Inc has awarded $31,200 in support to 3 organizations.

Grant RecipientAmount

TEXAS ELECTRIC COOPERATIVES

PURPOSE: 2020 YOUTH TOUR

$12,200

Waco, TX

PURPOSE: LINEMAN SCHOLARSHIP PROGRAM

$10,000

RIO GRANDE VALLEY LIVESTOCK SHOW

Org PageRecipient Profile

Mercedes, TX

PURPOSE: 2020 SPONSORSHIP

$9,000
View Grant Profile

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