Deaf Smith Electric Cooperative Inc
- Assets
- $130.9m
- Revenue
- $86.7m
- Investments
- $1.1k
- Employees
- 59
- Location
- Hereford, TX
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 75-0230385
Organization Overview
Deaf Smith Electric Cooperative Inc is located in Hereford, TX. The organization was established in 1937. 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, Deaf Smith Electric Cooperative Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Deaf Smith 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, Deaf Smith Electric Cooperative Inc generated $86.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $86.7m during the year ending 12/2022. While expenses have increased by 6.3% 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 ELECTRICITY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC ENERGY TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 15,159 CONNECTED METERS AT YEAR END.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Olson Vice Chairman | OfficerTrustee | 4 | $28,405 |
Vick Christian Director | Trustee | 5 | $34,157 |
Jim Hoelting Chairman | OfficerTrustee | 6 | $34,011 |
Danny Hand Secretary/treasurer | OfficerTrustee | 4.3 | $31,036 |
Melvin Betzen Director | Trustee | 4.5 | $32,680 |
Michael Carlson Director | Trustee | 5 | $34,195 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nisc Information Technology | 12/30/22 | $145,137 |
Tri-state General Contracting Group Llc Roof Repair Contractor | 12/30/22 | $308,977 |
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 | $86,450,606 |
| Investment income | $134,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $117,467 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,716,385 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,529 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,447,232 |
| Compensation of current officers, directors, key employees. | $496,063 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,015,837 |
| Pension plan accruals and contributions | $523,175 |
| Other employee benefits | $666,554 |
| Payroll taxes | $254,138 |
| 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 | $258,933 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,974,445 |
| Insurance | $0 |
| All other expenses | $294,831 |
| Total functional expenses | $86,716,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $706,624 |
| Savings and temporary cash investments | $5,550,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,041,286 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,717,269 |
| Prepaid expenses and deferred charges | $9,124,874 |
| Net Land, buildings, and equipment | $44,939,801 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,126 |
| Investments—program-related | $65,518,076 |
| Intangible assets | $0 |
| Other assets | $271,244 |
| Total assets | $130,870,300 |
| Accounts payable and accrued expenses | $3,830,960 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $63,599 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,069,242 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,953,037 |
| Total liabilities | $20,916,838 |
| Net assets without donor restrictions | $0 |
| 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 | $109,953,462 |
| Total liabilities and net assets/fund balances | $130,870,300 |