Upshur-Rural Electric Cooperative Corporation
- Assets
- $262.2m
- Revenue
- $129.7m
- Investments
- $0.0
- Employees
- 125
- Location
- Gilmer, TX
- Founding
- 07/1939
- Data as of
- 12/2022
- EIN
- 75-0628787
Organization Overview
Upshur-Rural Electric Cooperative Corporation is located in Gilmer, 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, Upshur-Rural Electric Cooperative Corporation employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upshur-Rural Electric Cooperative Corporation 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, Upshur-Rural Electric Cooperative Corporation generated $129.7m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $129.7m during the year ending 12/2022. While expenses have increased by 9.3% per year over the past 4 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
URECC PROVIDES AFFORDABLE, RELIABLE ELECTRIC ENERGY CONSISTENT WITH SOUND ECONOMY, SAFETY, AND QUALITY MANAGEMENT TO OUR MEMBERS AND THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
URECC PROVIDES AFFORDABLE, RELIABLE ELECTRIC ENERGY CONSISTENT WITH SOUND ECONOMY, SAFETY, AND QUALITY MANAGEMENT TO OUR MEMBERS AND THE COMMUNITIES WE SERVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert A Walker Jr CEO | Officer | 50 | $297,093 |
Billy J Schuler Serviceman | 58.4 | $149,459 | |
Damon G Means Director Of Financial Services | 45 | $135,365 | |
Melissa D Reeves Director Of Business Services | 45 | $134,584 | |
Jacob W Fielden Serviceman | 59.7 | $136,930 | |
Jonathan Hector Foreman | 50.9 | $129,788 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harris Line Service Row Services | 12/30/22 | $2,851,321 |
Brexan Llc Powerline Construction | 12/30/22 | $866,218 |
Northeast Texas Power Ltd Powerline Construction | 12/30/22 | $1,806,317 |
Diamond H Services Inc Powerline Construction | 12/30/22 | $2,061,461 |
East Texas Utility Service Inc Powerline Construction | 12/30/22 | $371,040 |
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 | $127,930,160 |
| Investment income | $67,415 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $147,093 |
| Net Gain/Loss on Asset Sales | $200,129 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $129,741,762 |
| 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 | $4,146,404 |
| Compensation of current officers, directors, key employees. | $1,426,278 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,816,170 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $157,584 |
| Fees for services: Accounting | $25,200 |
| 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 | $3,697,367 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,052,091 |
| Insurance | $0 |
| All other expenses | $402,166 |
| Total functional expenses | $129,741,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $801,262 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,252,628 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,036,349 |
| Prepaid expenses and deferred charges | $925,239 |
| Net Land, buildings, and equipment | $201,756,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $39,288,721 |
| Intangible assets | $0 |
| Other assets | $16,989 |
| Total assets | $262,178,131 |
| Accounts payable and accrued expenses | $40,138,418 |
| 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 | $87,293,616 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,724,421 |
| Total liabilities | $136,156,455 |
| 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 | $126,021,676 |
| Total liabilities and net assets/fund balances | $262,178,131 |