Skip to content
Nonprofiteer
← DEEP EAST TEXAS ELECTRIC CO-OPERATIVE INC

Form 990 for tax year 2023

Filed by DEEP EAST TEXAS ELECTRIC CO-OPERATIVE INC.

Totals

Total revenue
$114,338,527
Total expenses
$114,338,527
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$113,980,942
Investment income
$184,517
Other revenue
$173,068
Total assets, end of year
$281,399,509
Total liabilities, end of year
$170,747,074
Net assets or fund balances, end of year
$110,652,435
Program services expenses (Part IX)
$114,338,527
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: SALE OF ELECTRICITY/FEES

    total $108,386,673 · related or exempt $108,386,673

  • 2b · Program service revenue: TRANSMISSION REVENUES

    total $2,824,651 · related or exempt $2,824,651

  • 2c · Program service revenue: PATRONAGE CAPITAL CREDITS

    total $2,769,618 · related or exempt $2,769,618

  • 3 · Investment income

    total $169,928 · excluded $169,928

  • 7a · Gross sales of assets other than inventory

    other assets $14,589

  • 7c · Gain or loss

    other assets $14,589

  • 7d · Net gain or loss

    total $14,589 · related or exempt $14,589

  • 10a · Gross sales of inventory

    $44,389

  • 10c · Net income from sales of inventory

    total $44,389 · excluded $44,389

  • 11a · Other revenue: QUALIFIED POLE RENTAL INC

    total $98,362 · excluded $98,362

  • 11b · Other revenue: OIL AND GAS ROYALTY INCOME

    total $30,317 · excluded $30,317

  • 11e · Other revenue, total

    $128,679

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,103,490 · program services $1,103,490

  • 5 · Compensation of officers, directors and key employees

    total $815,072 · program services $815,072

  • 20 · Interest

    total $4,938,541 · program services $4,938,541

  • 22 · Depreciation, depletion and amortization

    total $8,012,347 · program services $8,012,347

  • 24a · Other expenses: POWER COST

    total $78,240,033 · program services $78,240,033

  • 24b · Other expenses: DISTRIBUTION - MAINT

    total $9,810,732 · program services $9,810,732

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $4,254,645 · program services $4,254,645

  • 24d · Other expenses: ADMIN

    total $3,064,898 · program services $3,064,898

  • 24e · All other expenses

    total $4,098,769 · program services $4,098,769

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,487,321 · end of year $3,233,785

  • 2 · Savings and temporary cash investments

    beginning of year $961,446 · end of year $940,697

  • 4 · Accounts receivable

    beginning of year $13,882,327 · end of year $15,104,156

  • 7 · Other notes and loans receivable

    beginning of year $16,384 · end of year $20,831

  • 8 · Inventories for sale or use

    beginning of year $2,971,151 · end of year $4,989,488

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,510,030 · end of year $1,975,373

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

    $296,422,550

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

    $89,183,107

  • 10c · Land, buildings and equipment, net

    beginning of year $195,602,123 · end of year $207,239,443

  • 12 · Investments: other securities

    beginning of year $1,734,370 · end of year $1,725,099

  • 13 · Investments: program-related

    beginning of year $43,638,568 · end of year $46,144,251

  • 15 · Other assets

    beginning of year $21,219 · end of year $26,386

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,235,030 · end of year $20,218,342

  • 23 · Secured mortgages and notes payable

    beginning of year $135,640,719 · end of year $146,988,862

  • 25 · Other liabilities

    beginning of year $3,600,685 · end of year $3,539,870

  • 31 · Retained earnings, endowment or other funds

    beginning of year $108,348,505 · end of year $110,652,435

Mission and programs · 2023

Mission

DEEP EAST TEXAS ELECTRIC COOPERATIVE WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING ELECTRICITY AND RELATED SERVICES TO RURAL CONSUMERS IN EAST TEXAS.

  • DEEP EAST TEXAS ELECTRIC COOPERATIVE WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING ELECTRICITY AND RELATED SERVICES TO RURAL CONSUMERS IN EAST TEXAS.

As filed on the 2023 return.

Listed in Part VII

  • William A Speights

    PRESIDENT

    Total calculated
    $20,717
    From this org
    $20,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Micha Miller

    VICE-PRESIDE

    Total calculated
    $18,565
    From this org
    $18,565
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Ronnie Greer

    SECRETARY/TR

    Total calculated
    $19,517
    From this org
    $19,517
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.75

  • Bryan Wood

    GENERAL MANA

    Total calculated
    $405,568
    From this org
    $315,204
    From related orgs
    $0
    Other
    $90,364
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $299,261
    Bonus
    $11,079
    Other
    $4,864
    Deferred
    $68,956
    Nontaxable benefits
    $21,408
    Filer's total
    $405,568

  • Gina Evett

    ADMIN DIRECT

    Total calculated
    $204,267
    From this org
    $153,937
    From related orgs
    $0
    Other
    $50,330
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,873
    Bonus
    $5,794
    Other
    $1,270
    Deferred
    $36,172
    Nontaxable benefits
    $14,158
    Filer's total
    $204,267

  • Serica Wilkins

    DIRECTOR

    Total calculated
    $18,465
    From this org
    $18,465
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gregory P Grigsby

    DIRECTOR

    Total calculated
    $19,843
    From this org
    $19,843
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Michael G Lee

    DIRECTOR

    Total calculated
    $19,665
    From this org
    $19,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Paul S Alexander

    DIRECTOR

    Total calculated
    $17,640
    From this org
    $17,640
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Rodney Wooten

    DIRECTOR

    Total calculated
    $11,855
    From this org
    $11,855
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • John H Childs

    DIRECTOR

    Total calculated
    $20,740
    From this org
    $20,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Angela Kerr Smart

    DIRECTOR

    Total calculated
    $19,865
    From this org
    $19,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.75

  • Bennis P Steptoe

    DIRECTOR

    Total calculated
    $18,365
    From this org
    $18,365
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.75

  • Kelly Parker

    DIRECTOR OF

    Total calculated
    $225,483
    From this org
    $166,361
    From related orgs
    $0
    Other
    $59,122
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,938
    Bonus
    $6,010
    Other
    $1,413
    Deferred
    $37,461
    Nontaxable benefits
    $21,661
    Filer's total
    $225,483

  • Jessie Morgan

    DIRECTOR OF

    Total calculated
    $226,560
    From this org
    $167,755
    From related orgs
    $0
    Other
    $58,805
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,801
    Bonus
    $5,972
    Other
    $982
    Deferred
    $37,157
    Nontaxable benefits
    $21,648
    Filer's total
    $226,560

  • Charles C Bennefield

    AREA SVC TEC

    Total calculated
    $189,885
    From this org
    $149,844
    From related orgs
    $0
    Other
    $40,041
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,271
    Bonus
    $3,353
    Other
    $220
    Deferred
    $19,156
    Nontaxable benefits
    $20,885
    Filer's total
    $189,885

  • Michael Merchant

    LEAD AREA SV

    Total calculated
    $169,725
    From this org
    $135,252
    From related orgs
    $0
    Other
    $34,473
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,899
    Bonus
    $3,381
    Other
    $972
    Deferred
    $21,020
    Nontaxable benefits
    $13,453
    Filer's total
    $169,725

  • Michael P Jones

    LEAD AREA SV

    Total calculated
    $168,908
    From this org
    $131,875
    From related orgs
    $0
    Other
    $37,033
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,567
    Bonus
    $3,174
    Other
    $134
    Deferred
    $16,729
    Nontaxable benefits
    $20,304
    Filer's total
    $168,908

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
24 July 2024
IRS schema version
2023v5.0
Source object
202422139349302007

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.