Swisher Electric Cooperative Inc
- Assets
- $72.4m
- Revenue
- $23.1m
- Investments
- $0.0
- Employees
- 47
- Location
- Tulia, TX
- Founding
- 10/1942
- Data as of
- 12/2021
- EIN
- 75-0594971
Organization Overview
Swisher Electric Cooperative Inc is located in Tulia, TX. The organization was established in 1942. 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 12/2021, Swisher Electric Cooperative Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swisher 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 12/2021, Swisher Electric Cooperative Inc generated $23.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $22.9m during the year ending 12/2021. While expenses have increased by 0.7% 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
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 7,989 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dwain Tipton General Manager | Officer | 52 | $156,935 |
Mary Ellen Mcmanus Director Of Engineering & Operations | 50 | $106,532 | |
Jasmine Dickson Director Of Fin. & Office Services | Officer | 40 | $98,884 |
Mace Middleton Vice President | OfficerTrustee | 1 | $25,427 |
Dwain Strange President | OfficerTrustee | 1.3 | $25,422 |
Ralph Frost Director | Trustee | 1.3 | $25,422 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Current Utility Services Llc Maintenance On Overhead Lines | 12/30/21 | $506,350 |
National Information Solutions Cooperati Software | 12/30/21 | $120,182 |
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 | $22,894,107 |
| Investment income | $94,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,564 |
| Net Gain/Loss on Asset Sales | $62,260 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$4,872 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,059,880 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,635 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $539,023 |
| Compensation of current officers, directors, key employees. | $529,334 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,771,875 |
| Pension plan accruals and contributions | $353,630 |
| Other employee benefits | $448,418 |
| Payroll taxes | $135,021 |
| 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 | $961,568 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,887,511 |
| Insurance | $0 |
| All other expenses | $85,411 |
| Total functional expenses | $22,880,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $267,054 |
| Savings and temporary cash investments | $4,074,343 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $975,631 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $605,597 |
| Prepaid expenses and deferred charges | $3,758,397 |
| Net Land, buildings, and equipment | $37,738,635 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $24,999,320 |
| Intangible assets | $0 |
| Other assets | $15,276 |
| Total assets | $72,434,253 |
| Accounts payable and accrued expenses | $1,583,045 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $77,492 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $27,322,786 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,836,518 |
| Total liabilities | $31,819,841 |
| 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 | $40,614,412 |
| Total liabilities and net assets/fund balances | $72,434,253 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jemez Mountains Electric Cooperative Inc Espanola, NM | $130,164,432 | $49,848,005 |
Navarro County Electric Cooperative Inc Corsicana, TX | $102,970,554 | $49,278,830 |
Rural Electric Co Op Inc Lindsay, OK | $94,050,768 | $47,989,459 |
Kiamichi Electric Cooperative Inc Wilburton, OK | $118,158,279 | $46,432,215 |
C & L Electric Cooperative Corporation Star City, AR | $139,600,891 | $49,154,793 |
Houston County Electric Cooperative Inc Crockett, TX | $158,669,671 | $45,143,222 |
North Plains Electric Cooperative Incorporated Perryton, TX | $109,565,276 | $41,899,328 |
Concho Valley Electric Cooperative Inc San Angelo, TX | $125,005,347 | $44,400,615 |
Navasota Valley Electric Cooperative Inc Franklin, TX | $102,144,082 | $44,111,524 |
Cooke County Electric Cooperative Association Muenster, TX | $91,559,642 | $43,344,905 |
Red River Valley Rural Electric Association Marietta, OK | $87,688,171 | $43,444,812 |
Farmers Electric Cooperative Inc Of New Mexico Clovis, NM | $139,799,971 | $42,708,107 |