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Nonprofiteer
← TAYLOR ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by TAYLOR ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$70,702,395
Total expenses
$72,819,484
Contributions and grants received
$0
Grants paid
$30,397
Program service revenue
$69,722,380
Investment income
$282,432
Other revenue
$697,583
Total assets, end of year
$234,317,038
Total liabilities, end of year
$141,670,419
Net assets or fund balances, end of year
$92,646,619
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALES OF ELECTRICITY

    total $61,121,216 · related or exempt $61,121,216

  • 2b · Program service revenue: FIBER INTERNET SERVICE REVENUE

    total $3,382,723 · related or exempt $3,382,723

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $2,546,920 · related or exempt $2,546,920

  • 2d · Program service revenue: TRANSMISSION ACCESS

    total $2,243,622 · related or exempt $2,243,622

  • 2e · Program service revenue: SERVICE FEES

    total $416,537 · related or exempt $416,537

  • 2f · All other program service revenue

    total $11,362 · related or exempt $11,362

  • 3 · Investment income

    total $173,859 · excluded $173,859

  • 6a · Gross rents

    real property $48,100 · personal property $260

  • 6b · Less rental expenses

    real property $0 · personal property $4,432

  • 6c · Rental income or loss

    real property $48,100 · personal property -$4,172

  • 6d · Net rental income or loss

    total $43,928 · related or exempt $48,100 · excluded -$4,172

  • 7a · Gross sales of assets other than inventory

    other assets $109,500

  • 7b · Less cost or other basis and sales expenses

    other assets $927

  • 7c · Gain or loss

    other assets $108,573

  • 7d · Net gain or loss

    total $108,573 · related or exempt $108,573

  • 10a · Gross sales of inventory

    $4,711

  • 10b · Cost of goods sold

    $10,134

  • 10c · Net income from sales of inventory

    total -$5,423 · related or exempt -$5,423

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $452,130 · excluded $452,130

  • 11b · Other revenue: MISC NON-OPERATING REVENUE

    total $190,603 · related or exempt $190,603

  • 11c · Other revenue: AIR EVAC REVENUE

    total $16,345 · unrelated business $16,345

  • 11e · Other revenue, total

    $659,078

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,397

  • 4 · Benefits paid to or for members

    total $9,302,679

  • 5 · Compensation of officers, directors and key employees

    total $1,451,203

  • 7 · Other salaries and wages

    total $5,098,743

  • 8 · Pension plan contributions

    total $1,120,954

  • 9 · Other employee benefits

    total $938,303

  • 10 · Payroll taxes

    total $404,368

  • 20 · Interest

    total $5,696,123

  • 22 · Depreciation, depletion and amortization

    total $8,922,666

  • 24a · Other expenses: PURCHASED POWER

    total $31,757,863

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $3,284,073

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $3,149,675

  • 24d · Other expenses: SALES EXPENSE

    total $707,683

  • 24e · All other expenses

    total $954,754

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,131,487 · end of year $2,306,739

  • 4 · Accounts receivable

    beginning of year $5,177,780 · end of year $5,414,816

  • 8 · Inventories for sale or use

    beginning of year $524 · end of year $524

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,992,156 · end of year $1,473,376

  • 10a · Land, buildings and equipment: cost or other basis

    $258,292,342

  • 10b · Land, buildings and equipment: accumulated depreciation

    $77,426,873

  • 10c · Land, buildings and equipment, net

    beginning of year $170,739,795 · end of year $180,865,469

  • 13 · Investments: program-related

    beginning of year $41,496,580 · end of year $42,895,109

  • 15 · Other assets

    beginning of year $1,549,800 · end of year $1,361,005

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,585,926 · end of year $5,490,243

  • 21 · Escrow or custodial account liability

    beginning of year $140,083 · end of year $176,296

  • 23 · Secured mortgages and notes payable

    beginning of year $121,579,141 · end of year $124,056,372

  • 25 · Other liabilities

    beginning of year $11,340,943 · end of year $11,947,508

  • 29 · Capital stock, trust principal or current funds

    beginning of year $137,625 · end of year $145,030

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $181,694 · end of year $181,694

  • 31 · Retained earnings, endowment or other funds

    beginning of year $86,122,710 · end of year $92,319,895

Mission and programs · 2024

Mission

NONE

Activities or mission (Part I)

TO PROVIDE ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 21,478 ACTIVE SERVICES AT YEAR END.

  • FIBER INTERNET DIVISION:A SEPARATE DIVISION OF THE COOPERATIVE WAS CREATED TO PROVIDE FIBER INTERNET SERVICE TO ITS MEMBERS THROUGH THE CONSTRUCTION OF A FIBER OPTIC NETWORK. FIBER INTERNET SERVICES ARE PROVIDED TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL TO THE EXTENT OF MARGINS FOR SUCH DIVISION. THERE WERE 4,582 ACTIVE SERVICES AT YEAR END.

As filed on the 2024 return.

Listed in Part VII

  • Cecil Davis

    CHAIRMAN

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • David McFall

    SECRETARY/TREASURER

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Garland Carter

    DIRECTOR

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Gayla Simmons

    DIRECTOR

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kathryn Rainey

    VICE CHAIRMAN

    Total calculated
    $21,500
    From this org
    $21,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Richard Petree

    DIRECTOR

    Total calculated
    $29,500
    From this org
    $29,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Craig Bessent

    DIRECTOR (FEB-DEC)

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Leland Robinson

    DIRECTOR (JAN)

    Total calculated
    $1,750
    From this org
    $1,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Ryan Bartlett

    PRESIDENT/CHIEF EXECUTIVE OFFICER

    Total calculated
    $453,073
    From this org
    $344,884
    From related orgs
    $0
    Other
    $108,189
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $280,792
    Bonus
    $39,438
    Other
    $24,654
    Deferred
    $71,548
    Nontaxable benefits
    $36,641
    Filer's total
    $453,073

  • Nancy Brisco

    CHIEF FINANCIAL OFFICER

    Total calculated
    $317,529
    From this org
    $227,857
    From related orgs
    $0
    Other
    $89,672
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $187,046
    Bonus
    $29,150
    Other
    $11,661
    Deferred
    $75,883
    Nontaxable benefits
    $13,789
    Filer's total
    $317,529

  • Wade Hatch

    VP OF ENGINEERING

    Total calculated
    $251,601
    From this org
    $172,134
    From related orgs
    $0
    Other
    $79,467
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $155,989
    Bonus
    $12,832
    Other
    $3,313
    Deferred
    $54,129
    Nontaxable benefits
    $25,338
    Filer's total
    $251,601

  • David Thomas

    DIRECTOR OF ELECTRIC OPERATIONS

    Total calculated
    $272,250
    From this org
    $158,019
    From related orgs
    $0
    Other
    $114,231
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $141,816
    Bonus
    $14,601
    Other
    $1,602
    Deferred
    $90,212
    Nontaxable benefits
    $24,019
    Filer's total
    $272,250

  • Joshua Foss

    WORKING FOREMAN

    Total calculated
    $223,696
    From this org
    $127,696
    From related orgs
    $0
    Other
    $96,000
    Hours/week
    48.7

    Schedule J breakdown matched by us

    Base
    $121,299
    Bonus
    $5,697
    Other
    $700
    Deferred
    $63,954
    Nontaxable benefits
    $32,046
    Filer's total
    $223,696

  • John Haspel

    CONST & ENERGY SERVICES MGR

    Total calculated
    $189,828
    From this org
    $126,703
    From related orgs
    $0
    Other
    $63,125
    Hours/week
    40.4

    Schedule J breakdown matched by us

    Base
    $111,634
    Bonus
    $12,669
    Other
    $2,400
    Deferred
    $39,196
    Nontaxable benefits
    $23,929
    Filer's total
    $189,828

  • Jason Cantu

    WORKING FOREMAN

    Total calculated
    $183,857
    From this org
    $126,581
    From related orgs
    $0
    Other
    $57,276
    Hours/week
    50.4

    Schedule J breakdown matched by us

    Base
    $122,863
    Bonus
    $3,282
    Other
    $436
    Deferred
    $24,049
    Nontaxable benefits
    $33,227
    Filer's total
    $183,857

  • Linda Hunt

    SR FINANCE PLANNING & ANALYSIS MGR

    Total calculated
    $157,930
    From this org
    $125,655
    From related orgs
    $0
    Other
    $32,275
    Hours/week
    41.3

    Schedule J breakdown matched by us

    Base
    $96,008
    Bonus
    $26,486
    Other
    $3,161
    Deferred
    $7,736
    Nontaxable benefits
    $24,539
    Filer's total
    $157,930

  • Denise Bernhardt

    MBR SERVICES/COMMUNICATION MGR

    Total calculated
    $207,871
    From this org
    $124,349
    From related orgs
    $0
    Other
    $83,522
    Hours/week
    40.3

    Schedule J breakdown matched by us

    Base
    $111,470
    Bonus
    $9,513
    Other
    $3,366
    Deferred
    $58,005
    Nontaxable benefits
    $25,517
    Filer's total
    $207,871

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. RYAN BARTLETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,848 EMPLOYER CONTRIBUTION TO 401(K) PLAN 20,700 TOTAL REPORTED IN COLUMN C $ 71,548 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,848) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 85,711 EXPENSE TO THE COOPERATIVE $106,411 NANCY BRISCO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,489 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,394 TOTAL REPORTED IN COLUMN C $ 75,883 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (62,489) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 58,179 EXPENSE TO THE COOPERATIVE $ 71,573 DAVID THOMAS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 80,472 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,740 TOTAL REPORTED IN COLUMN C $ 90,212 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (80,472) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,506 EXPENSE TO THE COOPERATIVE $ 54,246 WADE HATCH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,565 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,564 TOTAL REPORTED IN COLUMN C $ 54,129 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,565) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,744 EXPENSE TO THE COOPERATIVE $ 42,308 JOSHUA FOSS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 55,774 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,180 TOTAL REPORTED IN COLUMN C $ 63,954 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (55,774) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,926 EXPENSE TO THE COOPERATIVE $ 38,106 DENISE BERNHARDT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,153 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,852 TOTAL REPORTED IN COLUMN C $ 58,005 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,153) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,214 EXPENSE TO THE COOPERATIVE $ 27,066 JOHN HASPEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,302 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,894 TOTAL REPORTED IN COLUMN C $ 39,196 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,302) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,815 EXPENSE TO THE COOPERATIVE $ 43,709 JASON CANTU: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,013 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,036 TOTAL REPORTED IN COLUMN C $ 24,049 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,013) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,016 EXPENSE TO THE COOPERATIVE $ 36,052 LINDA HUNT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 0 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,736 TOTAL REPORTED IN COLUMN C $ 7,736 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 0 EXPENSE TO THE COOPERATIVE $ 7,736

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • WYLIE INDEPENDENT SCHOOL DISTRICT

    $1,000

    PROVIDED FOOD TO TEACHERS, ADMINISTRATORS, AND STAFF DURING IN-SERVICE.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • TAYLOR ELECTRIC TRUST

    501(C)(3) · CHARITY · TX · controlled entity

    Directly controlled by TAYLOR ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202503219349308060

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