Central Texas Electric Cooperative Inc
- Assets
- $241.9m
- Revenue
- $70.8m
- Investments
- $0.0
- Employees
- 149
- Location
- Fredericksburg, TX
- Founding
- 09/1951
- Data as of
- 12/2022
- EIN
- 74-1095072
Organization Overview
Central Texas Electric Cooperative Inc is located in Fredericksburg, TX. The organization was established in 1951. 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, Central Texas Electric Cooperative Inc employed 149 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Texas 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, Central Texas Electric Cooperative Inc generated $70.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $70.8m during the year ending 12/2022. While expenses have increased by 2.2% 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 QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.
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 45,518 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Hahn President | OfficerTrustee | 12.9 | $18,240 |
Joseph Wieser Vice President | OfficerTrustee | 5.5 | $16,140 |
Connie Stockbridge Treasurer | OfficerTrustee | 4.3 | $17,640 |
Doylene Bode Secretary | OfficerTrustee | 5.1 | $16,890 |
Mark Reeve Direcotr | Trustee | 7.6 | $14,390 |
Tim Lehmberg Director | Trustee | 3.6 | $15,090 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James Power Line Construction Line Construction | 12/30/22 | $4,078,714 |
Townsend Tree Service Row Clearing | 12/30/22 | $2,634,139 |
Lambda Construction I Ltd Contract Labor Substation | 12/30/22 | $2,055,547 |
Das Underground Utilities Llc Line Construction | 12/30/22 | $1,235,177 |
Schneider Engineering Ltd Engineering Services | 12/30/22 | $648,334 |
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 | $69,995,692 |
| Investment income | $285,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,921 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $138,372 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,828,639 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,626 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,291,546 |
| Compensation of current officers, directors, key employees. | $1,380,341 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,829,885 |
| Pension plan accruals and contributions | $688,172 |
| Other employee benefits | $1,232,834 |
| Payroll taxes | $364,638 |
| 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 | $4,038,032 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,451,797 |
| Insurance | $0 |
| All other expenses | $2,293,627 |
| Total functional expenses | $70,828,639 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,507,206 |
| Savings and temporary cash investments | $10,133,863 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,678,036 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,114,992 |
| Prepaid expenses and deferred charges | $6,103,033 |
| Net Land, buildings, and equipment | $198,470,298 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,897,155 |
| Intangible assets | $0 |
| Other assets | $1,037,249 |
| Total assets | $241,941,832 |
| Accounts payable and accrued expenses | $8,797,840 |
| Grants payable | $0 |
| Deferred revenue | $4,350,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $204,040 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $99,176,053 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,021,809 |
| Total liabilities | $138,549,742 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $680,620 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $102,711,470 |
| Total liabilities and net assets/fund balances | $241,941,832 |
Grants Awarded
Over the last fiscal year, Central Texas Electric Cooperative Inc has awarded $35,207 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COOPERATIVE FINANCE CORPORATION PURPOSE: INTEGRITY FUND CONTRIBUTION | $8,087 |
LLANO COUNTY VOLUNTEER FIRE DEPARTMENT PURPOSE: POLE DONATION | $27,120 |