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Nonprofiteer
← SOUTH TEXAS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by SOUTH TEXAS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$742,444,236
Total expenses
$755,296,598
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$738,981,148
Investment income
$1,616,758
Other revenue
$1,846,330
Total assets, end of year
$1,574,035,330
Total liabilities, end of year
$1,130,901,964
Net assets or fund balances, end of year
$443,133,366
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: CAPITAL CREDITS

    total $4,298,171 · related or exempt $4,298,171

  • 2b · Program service revenue: SALE OF ELECTRICITY-GROSS

    total $734,682,977 · related or exempt $734,682,977

  • 3 · Investment income

    total $1,611,422 · excluded $1,611,422

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    other assets $93,336

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

    other assets $88,000

  • 7c · Gain or loss

    other assets $5,336

  • 7d · Net gain or loss

    total $5,336 · related or exempt $5,336

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: INTERNET

    total $1,200 · related or exempt $1,200

  • 11b · Other revenue: MISC. NON-OPER. INCOME

    total $1,845,130 · related or exempt $1,845,130

  • 11e · Other revenue, total

    $1,846,330

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $31,385,071

  • 5 · Compensation of officers, directors and key employees

    total $2,684,245

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $20,191,095

  • 8 · Pension plan contributions

    total $7,314,675

  • 9 · Other employee benefits

    total $8,698,318

  • 10 · Payroll taxes

    total $1,751,557

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $36,726,802

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $57,474,730

  • 23 · Insurance

    total $1,511,207

  • 24a · Other expenses: OPERATION EXP-OTH POWER SUPPLY

    total $497,070,165

  • 24b · Other expenses: OPERATION EXP- PRODUCTION FUEL

    total $58,226,856

  • 24c · Other expenses: MAINTENANCE EXP- PRODUCTION

    total $8,596,712

  • 24d · Other expenses: PROPERTY TAXES

    total $6,383,776

  • 24e · All other expenses

    total $17,281,389

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $28,074,450 · end of year $41,738,043

  • 2 · Savings and temporary cash investments

    beginning of year $20,000,397 · end of year $50,025,500

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $69,087,410 · end of year $74,467,288

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $22,578,253 · end of year $25,423,244

  • 9 · Prepaid expenses and deferred charges

    beginning of year $36,705,011 · end of year $36,219,682

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

    $1,775,445,381

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

    $520,947,927

  • 10c · Land, buildings and equipment, net

    beginning of year $1,198,007,462 · end of year $1,254,497,454

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $84,443,658 · end of year $91,654,575

  • 14 · Intangible assets

    beginning of year $9,544 · end of year $9,544

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $72,345,524 · end of year $90,915,944

  • 23 · Secured mortgages and notes payable

    beginning of year $897,486,342 · end of year $858,235,147

  • 25 · Other liabilities

    beginning of year $77,326,027 · end of year $181,750,873

  • 29 · Capital stock, trust principal or current funds

    beginning of year $500 · end of year $500

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

    beginning of year $488 · end of year $488

  • 31 · Retained earnings, endowment or other funds

    beginning of year $411,747,304 · end of year $443,132,378

Mission and programs · 2022

Mission

Rural utility service cooperative for generation and transmission of electricity.

  • SOUTH TEXAS ELECTRIC COOPERATIVE, INC. (STEC) IS ORGANIZED FOR THE PURPOSE OF GENERATING AND TRANSMITTING ELECTRIC POWER. STEC HAS NINE (9) MEMBER COOPERATIVES. STEC SELLS ITS POWER PURSUANT TO WHOLESALE POWER CONTRACTS WITH ITS MEMBER-CUSTOMERS.

As filed on the 2022 return.

Listed in Part VII

  • MIKE KEZAR

    GENERAL MANAGER

    Total calculated
    $1,321,821
    From this org
    $1,164,274
    From related orgs
    $0
    Other
    $157,547
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $960,895
    Bonus
    not reported
    Other
    $203,379
    Deferred
    $126,981
    Nontaxable benefits
    $30,566
    Filer's total
    $1,321,821

  • CORY J ALLEN

    ASST. GENERAL MANAGER

    Total calculated
    $491,826
    From this org
    $344,766
    From related orgs
    $0
    Other
    $147,060
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $344,766
    Bonus
    not reported
    Other
    not reported
    Deferred
    $118,005
    Nontaxable benefits
    $29,055
    Filer's total
    $491,826

  • JOHN A PACKARD

    MGR - POWER SUPPLY

    Total calculated
    $448,490
    From this org
    $306,074
    From related orgs
    $0
    Other
    $142,416
    Hours/week
    50 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $306,074
    Bonus
    not reported
    Other
    not reported
    Deferred
    $112,507
    Nontaxable benefits
    $29,909
    Filer's total
    $448,490

  • CLIFTON E LANGE

    MGR-WHOLESALE MKT

    Total calculated
    $411,996
    From this org
    $281,585
    From related orgs
    $0
    Other
    $130,411
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $281,585
    Bonus
    not reported
    Other
    not reported
    Deferred
    $99,789
    Nontaxable benefits
    $30,622
    Filer's total
    $411,996

  • ROGER BISHOP

    PLANT MANAGER

    Total calculated
    $361,171
    From this org
    $253,918
    From related orgs
    $0
    Other
    $107,253
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $253,918
    Bonus
    not reported
    Other
    not reported
    Deferred
    $91,997
    Nontaxable benefits
    $15,256
    Filer's total
    $361,171

  • STEVEN W TAYLOR

    LINE SUPT

    Total calculated
    $355,113
    From this org
    $237,759
    From related orgs
    $0
    Other
    $117,354
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $237,759
    Bonus
    not reported
    Other
    not reported
    Deferred
    $87,133
    Nontaxable benefits
    $30,221
    Filer's total
    $355,113

  • WENDY OHRT

    MGR-CORPORATE

    Total calculated
    $325,371
    From this org
    $216,583
    From related orgs
    $0
    Other
    $108,788
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $216,583
    Bonus
    not reported
    Other
    not reported
    Deferred
    $78,841
    Nontaxable benefits
    $29,947
    Filer's total
    $325,371

  • PAUL PERSON

    MGR - ENGINEERING

    Total calculated
    $324,918
    From this org
    $217,719
    From related orgs
    $0
    Other
    $107,199
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $217,719
    Bonus
    not reported
    Other
    not reported
    Deferred
    $79,232
    Nontaxable benefits
    $27,967
    Filer's total
    $324,918

  • JANE KRAUSE

    CFO

    Total calculated
    $280,853
    From this org
    $196,250
    From related orgs
    $0
    Other
    $84,603
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $196,250
    Bonus
    not reported
    Other
    not reported
    Deferred
    $69,568
    Nontaxable benefits
    $15,035
    Filer's total
    $280,853

  • BARBARA S MILLER

    President

    Total calculated
    $18,600
    From this org
    $18,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.31

  • SAMMY CONDRA

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • BRUCE ELLIOTT

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • LARRY HUESSER

    ASST SEC-TREAS

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.95

  • BOBBY BAUCH

    Director

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • BRAD BIERSTEDT

    Director

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • PAUL BRYSCH JR

    SEC-TREAS

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.5

  • BRIAN ACOSTA

    Director

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • TREY GREBE

    Director

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • DONALD HERRMANN

    Director

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • RON HUGHES

    Vice President

    Total calculated
    $16,800
    From this org
    $16,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • MIKE ABLES

    Director

    Total calculated
    $16,800
    From this org
    $16,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • TREY RUSCHHAUPT

    Director

    Total calculated
    $16,800
    From this org
    $16,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • BLAINE WARZECHA

    Director

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • JIM HARTON

    Director

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • RICK GRAFF

    Director

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • JAMES COLEMAN-PD TO EMPR

    Director

    Total calculated
    $0
    Hours/week
    5

  • VARZAVAND IRANI-PD TO EMPR

    Director

    Total calculated
    $0
    Hours/week
    5

  • GARY RAYBON-PD TO EMPR

    Director

    Total calculated
    $0
    Hours/week
    5

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part III, Additional Information
In reference to Schedule J, Part I, Question 4b, Mike Kezar received a $203,379 distribution from a 457(f) plan during the tax year. Amount was included in taxable wages on Form W-2.

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.

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.

  • SOUTH TEXAS SOLAR POWER LLC

    C CORP · OPERATION OF SOLAR POWER GEN FAC · TX · 100% owned · share of income $805,744 · share of assets $347,680 · controlled entity

    Directly controlled by SOUTH TEXAS ELECTRIC

Provenance

Return type
form_990
Tax year
2022
Filed
25 July 2023
IRS schema version
2022v5.0
Source object
202302069349300940

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