Electric Reliability Council Of Texas Inc 10-10-90
- Assets
- $1.8b
- Revenue
- $260.2m
- Investments
- $0.0
- Employees
- 813
- Location
- Austin, TX
- Founding
- 04/2008
- Data as of
- 12/2019
- EIN
- 74-2587416
Organization Overview
Electric Reliability Council Of Texas Inc 10-10-90, operating under the name Ercot, is located in Austin, TX. The organization was established in 2008. 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 12/2019, Ercot employed 813 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Ercot generated $260.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $225.6m during the year ending 12/2019. While expenses have increased by 4.2% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
ERCOT SUCCESSFULLY MANAGES THE FLOW OF ELECTRICITY TO APPROXIMATELY 26 MILLION CUSTOMERS IN THE STATE OF TEXAS, WHICH INCLUDES THE MANAGEMENT OF FINANCIAL SETTLEMENT FOR THE COMPETITIVE WHOLESALE BULK-POWER MARKET AND THE ADMINISTRATION OF ELECTRIC PROVIDER ACCOUNT SWITCHING IN COMPETITIVE CHOICE AREAS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Magness Board Member; President & CEO | OfficerTrustee | 40 | $876,334 |
Cheryl Mele Sr. VP & COO | Officer | 40 | $548,005 |
Jerry Dreyer Svp, & Cio | Officer | 40 | $479,410 |
Jeyant Tamby Sr. VP And Cao | Officer | 40 | $476,198 |
Chad Seely Sr. Vp, General Counsel & Gov | Officer | 40 | $452,185 |
Michael Petterson VP And CFO | Officer | 40 | $412,535 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allegis Group Services Inc Contingent Workforce | 12/30/19 | $9,678,601 |
Abb Inc It Consulting | 12/30/19 | $2,334,433 |
Persistent Systems Inc It Consulting | 12/30/19 | $1,264,180 |
Potomac Economics Ltd Independent Mkt Monitor | 12/30/19 | $3,783,336 |
Integral Gis Inc It Consulting | 12/30/19 | $1,144,601 |
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 | $239,814,233 |
| Investment income | $20,405,583 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $260,219,816 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $7,553,816 |
| Compensation of current officers, directors, key employees. | $4,230,003 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,825,117 |
| Pension plan accruals and contributions | $12,122,611 |
| Other employee benefits | $9,670,552 |
| Payroll taxes | $6,576,581 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $262,340 |
| Fees for services: Accounting | $288,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,484,120 |
| Advertising and promotion | $0 |
| Office expenses | $1,329,246 |
| Information technology | $3,411,673 |
| Royalties | $0 |
| Occupancy | $4,870,757 |
| Travel | $1,220,291 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,631,733 |
| Interest | $1,743,785 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,015,764 |
| Insurance | $2,232,775 |
| All other expenses | $0 |
| Total functional expenses | $225,554,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,750,228 |
| Savings and temporary cash investments | $1,577,206,635 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,373,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $29,594,655 |
| Net Land, buildings, and equipment | $133,370,460 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,750,295,213 |
| Accounts payable and accrued expenses | $13,304,702 |
| Grants payable | $0 |
| Deferred revenue | $5,693,525 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,051,258,859 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $50,829,664 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $504,168,950 |
| Total liabilities | $1,625,255,700 |
| Net assets without donor restrictions | $125,039,513 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,750,295,213 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $1,808,003,892 | $621,215,918 |
South Texas Electric Cooperative Inc Nursery, TX | $1,404,192,450 | $525,803,887 |
Denton County Electric Cooperative Inc Corinth, TX | $1,336,367,088 | $559,966,199 |
Rayburn Country Electric Cooperative Inc Rockwall, TX | $450,181,484 | $369,113,869 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,042,127,187 | $337,586,474 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,105,215,137 | $342,796,786 |
Tri-County Electric Cooperative Inc Aledo, TX | $596,876,863 | $268,674,913 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $492,236,085 | $237,932,929 |
Southwest Louisiana Electric Lafayette, LA | $470,481,035 | $236,191,537 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $1,750,295,213 | $260,219,816 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $571,072,083 | $223,080,010 |
Northeast Texas Electric Coop Inc Longview, TX | $249,366,062 | $217,648,634 |