Golden Spread Electric Cooperative Inc

Organization Overview

Golden Spread Electric Cooperative Inc is located in Amarillo, TX. The organization was established in 1991. 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, Golden Spread Electric Cooperative Inc employed 101 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden Spread 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, Golden Spread Electric Cooperative Inc generated $703.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $720.1m during the year ending 12/2021. While expenses have increased by 23.6% per year over the past 6 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.

Since 2017, Golden Spread Electric Cooperative Inc has awarded 11 individual grants totaling $320,873. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION IS A CONSUMER-OWNED WHOLESALE ELECTRIC POWER SUPPLIER COOPERATIVE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION PROVIDES WHOLESALE ELECTRIC ENERGY UNDER LONG-TERM POWER PURCHASE AGREEMENTS WITH ITS 16 ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS. WHOLESALE POWER IS PROVIDED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
General Electric International
Construction & Material
$33,173,911
Nrg Energy Services Llc
Construction & Material
$11,371,772
Siemens Energy Inc
Maintenance & Materail
$7,468,551
Aces Power Marketing Llc
Purchase Power Services
$3,979,438
Wartsila North America Inc
Maintenance & Materail
$3,368,589
View All Vendors

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$700,899,667
Investment income $2,512,118
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$221,485
Net Gain/Loss on Asset Sales $53,805
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $703,244,105

Grants Awarded

Over the last fiscal year, Golden Spread Electric Cooperative Inc has awarded $191,642 in support to 3 organizations.

Grant RecipientAmount

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

Org PageRecipient Profile

Cambridge, MA

PURPOSE: RESEARCH SCHOLARSHIPS

$165,000

OPPORTUNITY PLAN INC

Org PageRecipient Profile

Canyon, TX

PURPOSE: SCHOLARSHIPS

$18,250

AMARILLO AREA FOUNDATION

Org PageRecipient Profile

Amarillo, TX

PURPOSE: TO ASSIST IN FUNDING CHARITABLE ORGANIZATIONS AND PROGRAMS SUPPORTED BY THE FOUNDATION

$8,392
View Grant Profile

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