East Texas Electric Cooperative Inc
- Assets
- $1.1b
- Revenue
- $496.7m
- Investments
- $0.0
- Employees
- 15
- Location
- Nacogdoches, TX
- Founding
- 12/1994
- Data as of
- 12/2022
- EIN
- 75-2187855
Organization Overview
East Texas Electric Cooperative Inc is located in Nacogdoches, TX. The organization was established in 1994. 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, East Texas Electric Cooperative Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Texas 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, East Texas Electric Cooperative Inc generated $496.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $486.0m during the year ending 12/2022. While expenses have increased by 7.1% 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
SALE OF WHOLESALE POWER TO ITS EIGHT MEMBERS ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES WHOLESALE POWER TO ITS ONE ELECTRIC GENERATING AND TRANSMISSION COOPERATIVE MEMBER AND SEVEN DISTRIBUTION COOPERATIVE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aj Goff CEO | Officer | 55 | $738,002 |
Joseph J Hayden VP Power Sup | Officer | 40 | $208,828 |
Lawrence Williams VP Engineeri | Officer | 40 | $167,503 |
Carrie Hawkins CFO | Officer | 40 | $178,589 |
Bobby Huckabay Manager Of I | 40 | $154,625 | |
James A Wagner Engineer | 40 | $181,468 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gds Associates Engineer Consul | 12/30/22 | $3,058,212 |
Holland & Knight Legal | 12/30/22 | $1,628,917 |
Ethosenergy Power Plant Services Power Plant Ser | 12/30/22 | $2,668,143 |
Meriplex Solutions Inc Consulting | 12/30/22 | $1,212,449 |
Volt Power Llc Utility Service | 12/30/22 | $596,234 |
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 | $469,581,946 |
| Investment income | $1,409,429 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $496,652,970 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $2,138,419 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $675,173 |
| Pension plan accruals and contributions | $140,856 |
| Other employee benefits | $232,535 |
| Payroll taxes | $112,945 |
| Fees for services: Management | $202,350 |
| Fees for services: Legal | $1,806,810 |
| Fees for services: Accounting | $130,413 |
| Fees for services: Lobbying | $222,675 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,521,934 |
| Advertising and promotion | $0 |
| Office expenses | $286,809 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $160,587 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,300,385 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,607,117 |
| Insurance | $292,134 |
| All other expenses | $5,423,654 |
| Total functional expenses | $486,039,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,614,643 |
| Savings and temporary cash investments | $10,069,031 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $69,510,404 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,248,543 |
| Prepaid expenses and deferred charges | $240,217,641 |
| Net Land, buildings, and equipment | $667,697,515 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $37,201,387 |
| Intangible assets | $0 |
| Other assets | $5,097,086 |
| Total assets | $1,077,656,250 |
| Accounts payable and accrued expenses | $51,292,747 |
| Grants payable | $0 |
| Deferred revenue | $5,487,350 |
| 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 | $800,872,253 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $857,652,350 |
| 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 | $220,003,900 |
| Total liabilities and net assets/fund balances | $1,077,656,250 |