Form 990 for tax year 2024
Filed by RAYBURN COUNTRY ELECTRIC COOPERATIVE INC.
Totals
- Total revenue
- $412,258,622
- Total expenses
- $412,235,596
- Contributions and grants received
- $0
- Grants paid
- $55,190
- Program service revenue
- $405,695,830
- Investment income
- $6,553,192
- Other revenue
- $9,600
- Total assets, end of year
- $1,169,520,032
- Total liabilities, end of year
- $981,108,785
- Net assets or fund balances, end of year
- $188,411,247
- 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 $403,586,435 · related or exempt $403,586,435
-
2b · Program service revenue: PATRONAGE DIVIDENDS
total $1,622,290 · related or exempt $1,622,290
-
2c · Program service revenue: OTHER PROGRAM REVENUE
total $487,105 · related or exempt $487,105
-
3 · Investment income
total $6,566,777 · excluded $6,566,777
-
6a · Gross rents
personal property $9,600
-
6b · Less rental expenses
personal property $0
-
6c · Rental income or loss
personal property $9,600
-
6d · Net rental income or loss
total $9,600 · unrelated business $9,600
-
7b · Less cost or other basis and sales expenses
other assets $13,585
-
7c · Gain or loss
other assets -$13,585
-
7d · Net gain or loss
total -$13,585 · related or exempt -$13,585
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $55,190
-
4 · Benefits paid to or for members
total $19,946,690
-
5 · Compensation of officers, directors and key employees
total $3,985,158
-
7 · Other salaries and wages
total $8,537,349
-
8 · Pension plan contributions
total $1,045,703
-
9 · Other employee benefits
total $2,334,743
-
10 · Payroll taxes
total $792,914
-
20 · Interest
total $25,460,812
-
22 · Depreciation, depletion and amortization
total $20,983,597
-
24a · Other expenses: PURCHASED POWER
total $240,482,590
-
24b · Other expenses: POWER GENERATION
total $40,939,989
-
24c · Other expenses: TRANSMISSION EXPENSE
total $30,195,719
-
24d · Other expenses: UNRELATED BUS. INC. TAX
total $890
-
24e · All other expenses
total $17,474,252
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $79,038,071 · end of year $53,967,586
-
4 · Accounts receivable
beginning of year $35,288,047 · end of year $34,214,905
-
8 · Inventories for sale or use
beginning of year $3,413,758 · end of year $6,441,807
-
9 · Prepaid expenses and deferred charges
beginning of year $63,612,766 · end of year $31,641,242
-
10a · Land, buildings and equipment: cost or other basis
$819,480,039
-
10b · Land, buildings and equipment: accumulated depreciation
$234,283,855
-
10c · Land, buildings and equipment, net
beginning of year $902,825,110 · end of year $585,196,184
-
13 · Investments: program-related
beginning of year $15,220,813 · end of year $457,976,135
-
15 · Other assets
beginning of year $93,762 · end of year $82,173
-
17 · Accounts payable and accrued expenses
beginning of year $42,418,456 · end of year $46,057,809
-
23 · Secured mortgages and notes payable
beginning of year $877,297,050 · end of year $909,134,859
-
25 · Other liabilities
beginning of year $11,310,154 · end of year $25,916,117
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $5,929,429 · end of year $5,929,429
-
31 · Retained earnings, endowment or other funds
beginning of year $162,537,238 · end of year $182,481,818
Mission and programs · 2024
Mission
TO MAXIMIZE THE VALUE OF OUR MEMBERS' INVESTMENT WHILE MAINTAINING COMPETITIVE WHOLESALE POWER COSTS AS WE EXEMPLIFY INTEGRITY AND EXCELLENCE.
Activities or mission (Part I)
TO PROVIDE WHOLESALE POWER SUPPLY AND REGULATORY REPRESENTATION ON BEHALF OF ITS MEMBERS.
-
PROVIDING WHOLESALE ELECTRIC ENERGY TO 4 DISTRIBUTION COOPERATIVE MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
As filed on the 2024 return.
Listed in Part VII
-
Bill SamuelsBILL SAMUELS
ALTERNATE DIRECTOR
- Total calculated
- $5,594
- From this org
- $5,594
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Howard TillisonHOWARD TILLISON
ALTERNATE DIRECTOR
- Total calculated
- $6,286
- From this org
- $6,286
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Jeff LaneJEFF LANE
SECRETARY/TREASURER
- Total calculated
- $9,600
- From this org
- $9,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2 + 1 related
-
John Ed ShinpaughJOHN ED SHINPAUGH
VICE CHAIRMAN
- Total calculated
- $7,502
- From this org
- $7,502
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2 + 1 related
-
Steve CollidaSTEVE COLLIDA
ALTERNATE DIRECTOR
- Total calculated
- $5,663
- From this org
- $5,663
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
David McGinnisDAVID MCGINNIS
CHAIRMAN
- Total calculated
- $10,750
- From this org
- $10,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Paul KirklandPAUL KIRKLAND
ALTERNATE DIRECTOR
- Total calculated
- $5,518
- From this org
- $5,518
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Mark StubbsMARK STUBBS
ALTERNATE DIRECTOR
- Total calculated
- $6,400
- From this org
- $6,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
David NaylorDAVID NAYLOR
PRESIDENT/CHIEF EXECUTIVE
- Total calculated
- $1,097,693
- From this org
- $1,011,974
- From related orgs
- $0
- Other
- $85,719
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $911,685
- Bonus
- $17,308
- Other
- $82,981
- Deferred
- $44,850
- Nontaxable benefits
- $40,869
- Filer's total
- $1,097,693
-
David BraunDAVID BRAUN
CHIEF FINANCIAL OFFICER(JAN-MAR)
- Total calculated
- $384,627
- From this org
- $318,403
- From related orgs
- $0
- Other
- $66,224
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $123,171
- Bonus
- $12,278
- Other
- $182,954
- Deferred
- $40,511
- Nontaxable benefits
- $25,713
- Filer's total
- $384,627
-
Christopher AndersonCHRISTOPHER ANDERSON
GENERAL COUNSEL
- Total calculated
- $618,895
- From this org
- $533,176
- From related orgs
- $0
- Other
- $85,719
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $514,493
- Bonus
- $10,577
- Other
- $8,106
- Deferred
- $44,850
- Nontaxable benefits
- $40,869
- Filer's total
- $618,895
-
Stephen GeigerSTEPHEN GEIGER
CHIEF OPERATING OFFICER
- Total calculated
- $677,309
- From this org
- $591,590
- From related orgs
- $0
- Other
- $85,719
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $532,662
- Bonus
- $10,894
- Other
- $48,034
- Deferred
- $44,850
- Nontaxable benefits
- $40,869
- Filer's total
- $677,309
-
Chase SnufferCHASE SNUFFER
CHIEF INFORMATION OFFICER
- Total calculated
- $638,208
- From this org
- $552,489
- From related orgs
- $0
- Other
- $85,719
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $516,055
- Bonus
- $10,577
- Other
- $25,857
- Deferred
- $44,850
- Nontaxable benefits
- $40,869
- Filer's total
- $638,208
-
Stephanie WeeksSTEPHANIE WEEKS
CHIEF FINANCIAL OFFICER (MAR-DEC)
- Total calculated
- $511,113
- From this org
- $427,503
- From related orgs
- $0
- Other
- $83,610
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $404,985
- Bonus
- $9,399
- Other
- $13,119
- Deferred
- $44,850
- Nontaxable benefits
- $38,760
- Filer's total
- $511,113
-
Christian NagleCHRISTIAN NAGLE
DIRECTOR OF POWER SUPPLY
- Total calculated
- $445,982
- From this org
- $361,845
- From related orgs
- $0
- Other
- $84,137
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $353,463
- Bonus
- $7,212
- Other
- $1,170
- Deferred
- $44,850
- Nontaxable benefits
- $39,287
- Filer's total
- $445,982
-
Donald CantrellDONALD CANTRELL
DIRECTOR OF POWER PLANT OPERATIONS
- Total calculated
- $418,050
- From this org
- $335,620
- From related orgs
- $0
- Other
- $82,430
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $327,302
- Bonus
- $6,510
- Other
- $1,808
- Deferred
- $43,396
- Nontaxable benefits
- $39,034
- Filer's total
- $418,050
-
Jennifer PulliamJENNIFER PULLIAM
ASST. GENERAL COUNSEL
- Total calculated
- $378,066
- From this org
- $300,469
- From related orgs
- $0
- Other
- $77,597
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $293,510
- Bonus
- $5,886
- Other
- $1,073
- Deferred
- $38,922
- Nontaxable benefits
- $38,675
- Filer's total
- $378,066
-
Frank OwensFRANK OWENS
DIRECTOR OF COMPLIANCE
- Total calculated
- $306,442
- From this org
- $238,358
- From related orgs
- $0
- Other
- $68,084
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $228,373
- Bonus
- $4,580
- Other
- $5,405
- Deferred
- $30,284
- Nontaxable benefits
- $37,800
- Filer's total
- $306,442
-
Scott DonhamSCOTT DONHAM
ENGINEERING MANAGER
- Total calculated
- $298,568
- From this org
- $231,671
- From related orgs
- $0
- Other
- $66,897
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $202,711
- Bonus
- $4,032
- Other
- $24,928
- Deferred
- $29,472
- Nontaxable benefits
- $37,425
- Filer's total
- $298,568
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 · 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
-
TEXAS ELECTRIC COOPERATIVES
$15,900
YOUTH TOUR SPONSORSHIP - 5 STUDENTS
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.
-
501(C)(3) · CHARITABLE ORGANIZATION · TX · controlled entity
Directly controlled by RAYBURN COUNTRY ELECTRIC COOPERATIVE INC
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C · POWER GENERATION · TX · 100% owned · share of income $154,941,000 · share of assets $452,740,535 · controlled entity
Directly controlled by RAYBURN COUNTRY ELECTRIC COOPERATIVE INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 2 December 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533429349300918
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