Navasota Valley Electric Cooperative Inc
- Assets
- $109.4m
- Revenue
- $60.6m
- Investments
- $0.0
- Employees
- 74
- Location
- Franklin, TX
- Founding
- 01/1943
- Data as of
- 12/2022
- EIN
- 74-0866703
Organization Overview
Navasota Valley Electric Cooperative Inc is located in Franklin, TX. The organization was established in 1943. 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, Navasota Valley Electric Cooperative Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Navasota 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 12/2022, Navasota Valley Electric Cooperative Inc generated $60.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $60.6m during the year ending 12/2022. While expenses have increased by 5.7% 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 ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC POWER TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 21,142 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Perry Director | Trustee | 1 | $4,500 |
Jeff Gonzales President | OfficerTrustee | 3.6 | $12,294 |
Ken Elliott Secretary/treasurer | OfficerTrustee | 3.6 | $13,794 |
Charlie Carrigan Director | Trustee | 3.1 | $12,130 |
Jerry Robertson Vice President | OfficerTrustee | 1.7 | $8,197 |
Jerry Hubbard Director | Trustee | 2.7 | $10,182 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
S&h Power Line Line Construction | 12/30/22 | $1,298,154 |
Johnny Coulter Dba Jcs Tree Service Tree Trimming | 12/30/22 | $878,111 |
Cold Creek Construction Tree Trimming | 12/30/22 | $854,739 |
D & J Power Line Construction | 12/30/22 | $498,896 |
Row Line Construction Tree Trimming | 12/30/22 | $418,950 |
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 | $60,220,187 |
| Investment income | $37,243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,275 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,586,411 |
| 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 | $5,162,913 |
| Compensation of current officers, directors, key employees. | $348,889 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,382,309 |
| Pension plan accruals and contributions | $795,603 |
| Other employee benefits | $884,427 |
| Payroll taxes | $574,202 |
| 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 | $212,934 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,929,816 |
| Insurance | $0 |
| All other expenses | $379,122 |
| Total functional expenses | $60,586,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,280,153 |
| Savings and temporary cash investments | $10,960 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,542,663 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $26,140 |
| Prepaid expenses and deferred charges | $100,478 |
| Net Land, buildings, and equipment | $74,265,180 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $26,193,701 |
| Intangible assets | $0 |
| Other assets | $6,718 |
| Total assets | $109,425,993 |
| Accounts payable and accrued expenses | $5,174,038 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $55,925 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,446,201 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,741,042 |
| Total liabilities | $22,417,206 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $479,180 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $86,529,607 |
| Total liabilities and net assets/fund balances | $109,425,993 |