Bailey County Electric Cooperative Association
- Assets
- $98.3m
- Revenue
- $43.8m
- Investments
- $0.0
- Employees
- 50
- Location
- Muleshoe, TX
- Founding
- 12/1939
- Data as of
- 12/2022
- EIN
- 75-0124533
Organization Overview
Bailey County Electric Cooperative Association is located in Muleshoe, 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 12/2022, Bailey County Electric Cooperative Association employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bailey County Electric Cooperative Association 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, Bailey County Electric Cooperative Association generated $43.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $43.8m during the year ending 12/2022. While expenses have increased by 4.9% 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 POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALES OF ELECTRIC ENERGY TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 9,004 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Layton Director | Trustee | 2.8 | $26,629 |
Keith Hicks Chairman | OfficerTrustee | 1.2 | $24,081 |
Ronnie Barrett Director | Trustee | 1.2 | $24,081 |
Ronnie Altman Director | Trustee | 1.2 | $23,881 |
Larry Clawson Director | Trustee | 1.3 | $24,081 |
Jerry Nichols Secretary/treasurer | OfficerTrustee | 2 | $23,681 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brandon Elliott Pole Tech Services Pole Inspections | 12/30/21 | $226,591 |
Hi Range Electric Inc Work Order Construction/retirement | 12/30/21 | $171,965 |
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 | $43,564,028 |
| Investment income | $75,313 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,250 |
| Net Gain/Loss on Asset Sales | $125,723 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,198 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,773,512 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,900 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $974,432 |
| Compensation of current officers, directors, key employees. | $400,077 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,502,130 |
| Pension plan accruals and contributions | $573,358 |
| Other employee benefits | $545,787 |
| Payroll taxes | $197,831 |
| 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 | $1,816,748 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,556,235 |
| Insurance | $0 |
| All other expenses | $54,725 |
| Total functional expenses | $43,773,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,008,257 |
| Savings and temporary cash investments | $1,223,980 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,138,901 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,232,600 |
| Prepaid expenses and deferred charges | $2,212,296 |
| Net Land, buildings, and equipment | $55,643,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $31,841,944 |
| Intangible assets | $0 |
| Other assets | $2,018,830 |
| Total assets | $98,320,308 |
| Accounts payable and accrued expenses | $2,107,534 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $18,832 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $49,243,125 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $393,303 |
| Total liabilities | $51,762,794 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $7,380 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $46,550,134 |
| Total liabilities and net assets/fund balances | $98,320,308 |