Pedernales Electric Cooperative Inc
- Assets
- $2.0b
- Revenue
- $830.4m
- Investments
- $0.0
- Employees
- 936
- Location
- Johnson City, TX
- Founding
- 09/1940
- Data as of
- 12/2021
- EIN
- 74-0828412
Organization Overview
Pedernales Electric Cooperative Inc is located in Johnson City, TX. The organization was established in 1940. 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, Pedernales Electric Cooperative Inc employed 936 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pedernales 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, Pedernales Electric Cooperative Inc generated $830.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $832.6m during the year ending 12/2021. While expenses have increased by 5.0% 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
TO DELIVER LOW-COST, RELIABLE AND SAFE ELECTRIC ENERGY TO THE 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 367,147 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Parsley Chief Executive Officer | Officer | 52 | $752,423 |
Edward A Dauterive Chief Operations Officer | Officer | 65 | $443,694 |
Don Ballard General Counsel | Officer | 50 | $437,616 |
Mauricio Viesca Jan-Sep Evp - Public Affairs | 40 | $433,594 | |
Randy Kruger Chief Financial Officer | Officer | 50 | $433,589 |
Wayne Mckee VP - Safety & Technical Training | 40 | $329,123 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Volt Power Llc Construction | 12/30/21 | $9,462,484 |
James Power Line Construction Electric Dist Line Construction | 12/30/21 | $10,497,369 |
Pannell Contracting Construction | 12/30/21 | $6,909,467 |
Lamar Technical Services Inc Construction, Engineering Services | 12/30/21 | $4,836,592 |
Hyde Construction Inc Construction | 12/30/21 | $4,061,094 |
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 | $825,694,904 |
| Investment income | $155,844 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $258,191 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $830,415,690 |
| 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 | $35,124,360 |
| Compensation of current officers, directors, key employees. | $4,402,928 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,688,276 |
| Pension plan accruals and contributions | $7,056,073 |
| Other employee benefits | $6,772,031 |
| Payroll taxes | $4,089,249 |
| 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 | $38,439,075 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,171,010 |
| Insurance | $0 |
| All other expenses | $4,197,683 |
| Total functional expenses | $832,551,138 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,038,687 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,416,668 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $29,608,981 |
| Prepaid expenses and deferred charges | $2,007,032 |
| Net Land, buildings, and equipment | $1,826,245,198 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,879,801 |
| Intangible assets | $0 |
| Other assets | $120,673,817 |
| Total assets | $2,029,870,184 |
| Accounts payable and accrued expenses | $84,629,834 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $187,911 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,028,876,823 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $125,175,448 |
| Total liabilities | $1,238,870,016 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $15,184,321 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $775,815,847 |
| Total liabilities and net assets/fund balances | $2,029,870,184 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pedernales Electric Cooperative Inc has recieved totaling $105,608.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $105,608 |
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 |