Panola-Harrison Electric
- Assets
- $66.3m
- Revenue
- $42.9m
- Investments
- $0.0
- Employees
- 45
- Location
- Marshall, TX
- Founding
- 07/1941
- Data as of
- 12/2021
- EIN
- 75-0481385
Organization Overview
Panola-Harrison Electric is located in Marshall, TX. The organization was established in 1941. According to its NTEE Classification (Y99) the organization is classified as: Mutual & Membership Benefit N.E.C., under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Panola-Harrison Electric employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Panola-Harrison Electric 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 12/2021, Panola-Harrison Electric generated $42.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $42.9m during the year ending 12/2021. While expenses have increased by 2.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF ELECTRICITY AND RELATED SERVICES TO RURAL CUSTOMERS / MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPLYING ELECTRIC SERVICE TO APPROXIMATELY 20,000 RURAL CUSTOMER METERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Austin Haynes General Manager | Officer | 50 | $108,020 |
Codie Stewart Lineman | 40 | $103,933 | |
Robert Fisher Director Of Outside Operations | 40 | $103,512 | |
Kathy Wood General Manager | Officer | 50 | $73,304 |
Albert S Tiller President / Director | OfficerTrustee | 8 | $31,483 |
Paul Fortune Director | OfficerTrustee | 2 | $31,463 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Echo Powerline Construction | 12/30/21 | $269,233 |
Tree Experts Right Of Way Clearing | 12/30/21 | $219,490 |
Texar Tree & Timber Right Of Way Clearing | 12/30/21 | $175,760 |
Arbor Resources Right Of Way Clearing | 12/30/21 | $651,175 |
Brexan Line Service Contractor | 12/30/21 | $281,330 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $831,962 |
| 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 | $831,962 |
| Total Program Service Revenue | $41,538,364 |
| Investment income | $37,008 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,782 |
| Net Rental Income | -$1,394 |
| Net Gain/Loss on Asset Sales | $4,962 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,875,581 |
| 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 | $1,712,980 |
| Compensation of current officers, directors, key employees. | $752,030 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,171,151 |
| Pension plan accruals and contributions | $435,907 |
| Other employee benefits | $710,770 |
| Payroll taxes | $209,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,220 |
| Fees for services: Accounting | $19,772 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,682,054 |
| Advertising and promotion | $69,222 |
| Office expenses | $46,189 |
| Information technology | $23,397 |
| Royalties | $0 |
| Occupancy | $235,823 |
| Travel | $4,715 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $451,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,941,103 |
| Insurance | $181,556 |
| All other expenses | $0 |
| Total functional expenses | $42,875,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,214 |
| Savings and temporary cash investments | $6,527,567 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,203,194 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,059,359 |
| Prepaid expenses and deferred charges | $335,555 |
| Net Land, buildings, and equipment | $30,539,568 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,801,185 |
| Intangible assets | $0 |
| Other assets | $6,805,980 |
| Total assets | $66,317,622 |
| Accounts payable and accrued expenses | $4,281,877 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,667,708 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,714,191 |
| Total liabilities | $20,663,776 |
| 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 | $45,653,846 |
| Total liabilities and net assets/fund balances | $66,317,622 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Altria Client Services Medical Dental & Retiree Life Veba Trust C/O Jpmc Bank Plano, TX | $0 | $110,296,405 |
Panola-Harrison Electric Marshall, TX | $66,317,622 | $42,875,581 |
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