Lyntegar Electric Cooperative Inc
- Assets
- $281.9m
- Revenue
- $99.6m
- Investments
- $19.2m
- Employees
- 125
- Location
- Tahoka, TX
- Founding
- 09/1939
- Data as of
- 12/2022
- EIN
- 75-0405473
Organization Overview
Lyntegar Electric Cooperative Inc is located in Tahoka, 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, Lyntegar Electric Cooperative Inc employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lyntegar 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, Lyntegar Electric Cooperative Inc generated $99.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $98.5m during the year ending 12/2022. While expenses have increased by 5.8% 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 OF THE COOPERATIVE.
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 23,577 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Franklin President | OfficerTrustee | 8.9 | $29,943 |
Kevin Mitchell Vice President | OfficerTrustee | 8.9 | $24,241 |
Billy Weaver Secretary/treasurer | OfficerTrustee | 7 | $23,147 |
Hr Barron Director | Trustee | 7.2 | $23,288 |
Ricky Day Director | Trustee | 7.1 | $21,791 |
Theron Tidwell Director | Trustee | 7.1 | $28,823 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arrowhead Line Llc Construction Of Line | 12/30/22 | $3,140,204 |
Burns & Mcdonnell Engineering Inc Engineering Services | 12/30/22 | $147,817 |
Nix Electric Inc Transformer Repair Services | 12/30/22 | $256,680 |
Computer Transition Services Inc Computer/it Services | 12/30/22 | $147,294 |
Mccord Engineering Inc Engineering Services | 12/30/22 | $106,500 |
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 | $98,377,561 |
| Investment income | $1,131,659 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$10,115 |
| Net Gain/Loss on Asset Sales | $73,830 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $99,599,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,058 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,227,307 |
| Compensation of current officers, directors, key employees. | $1,269,458 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,686,488 |
| Pension plan accruals and contributions | $383,836 |
| Other employee benefits | $1,055,635 |
| Payroll taxes | $407,944 |
| 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 | $4,827,080 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,554,829 |
| Insurance | $0 |
| All other expenses | $66,331 |
| Total functional expenses | $98,545,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $857,917 |
| Savings and temporary cash investments | $113,058 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,769,351 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,529,509 |
| Prepaid expenses and deferred charges | $754,552 |
| Net Land, buildings, and equipment | $179,590,417 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $19,155,500 |
| Investments—program-related | $70,504,251 |
| Intangible assets | $0 |
| Other assets | $1,648,641 |
| Total assets | $281,923,196 |
| Accounts payable and accrued expenses | $9,611,477 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $122,805 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $122,617,321 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,679,631 |
| Total liabilities | $138,031,234 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $29,440 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $143,862,522 |
| Total liabilities and net assets/fund balances | $281,923,196 |