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Nonprofiteer
← NORTHEAST TEXAS ELECTRIC COOP INC

Form 990 for tax year 2024

Filed by NORTHEAST TEXAS ELECTRIC COOP INC.

Totals

Total revenue
$239,053,261
Total expenses
$234,478,090
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$237,715,648
Investment income
$1,337,613
Other revenue
$0
Total assets, end of year
$294,120,365
Total liabilities, end of year
$162,071,260
Net assets or fund balances, end of year
$132,049,105
Program services expenses (Part IX)
$234,478,090
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: Patronage Captial Credits

    total $3,237,558 · related or exempt $3,237,558

  • 2b · Program service revenue: Wholesale Power Sales

    total $234,478,090 · related or exempt $234,478,090

  • 3 · Investment income

    total $1,337,613 · excluded $1,337,613

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

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

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 $0

  • 5 · Compensation of officers, directors and key employees

    total $528,950 · program services $528,950

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $73,861 · program services $73,861

  • 8 · Pension plan contributions

    total $17,129 · program services $17,129

  • 9 · Other employee benefits

    total $27,709 · program services $27,709

  • 10 · Payroll taxes

    total $19,731 · program services $19,731

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $1,687,329 · program services $1,687,329

  • 11c · Fees: accounting

    total $276,009 · program services $276,009

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $719,199 · program services $719,199

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $54,963 · program services $54,963

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $51,960 · program services $51,960

  • 17 · Travel

    total $25,904 · program services $25,904

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $33,970 · program services $33,970

  • 20 · Interest

    total $5,731,609 · program services $5,731,609

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $8,171,235 · program services $8,171,235

  • 23 · Insurance

    total $192,744 · program services $192,744

  • 24a · Other expenses: Purchased Power

    total $85,863,363 · program services $85,863,363

  • 24b · Other expenses: Fuel Cost - HCPP

    total $75,152,527 · program services $75,152,527

  • 24c · Other expenses: Transmission Costs

    total $36,272,652 · program services $36,272,652

  • 24d · Other expenses: Power Plant Operating Exp.

    total $14,151,193 · program services $14,151,193

  • 24e · All other expenses

    total $5,426,053 · program services $5,426,053

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $34,961,720 · end of year $33,587,199

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $42,420,162 · end of year $45,023,439

  • 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 $3,151,873 · end of year $3,225,414

  • 9 · Prepaid expenses and deferred charges

    beginning of year $79,473,236 · end of year $66,247,523

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

    $201,727,681

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

    $107,686,997

  • 10c · Land, buildings and equipment, net

    beginning of year $94,644,501 · end of year $94,040,684

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $49,004,436 · end of year $51,996,106

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,324,604 · end of year $21,053,366

  • 23 · Secured mortgages and notes payable

    beginning of year $146,706,416 · end of year $129,904,794

  • 25 · Other liabilities

    beginning of year $7,150,974 · end of year $11,113,100

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

    beginning of year $30,000 · end of year $30,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $127,443,934 · end of year $132,019,105

Mission and programs · 2024

Mission

NTEC Provides wholesale electric generating, purchasing, and transmission to its member electric cooperatives.

  • Costs incurred with providing wholesale electric energy to 6 electric distribution cooperative members who in turn provide electricity to over 165,000 retail members

As filed on the 2024 return.

Listed in Part VII

  • Caleb Head

    GM

    Total calculated
    $375,296
    From this org
    $262,546
    From related orgs
    $0
    Other
    $112,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,880
    Bonus
    not reported
    Other
    $666
    Deferred
    $84,201
    Nontaxable benefits
    $28,549
    Filer's total
    $375,296

  • Trey Teaff

    President

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mark Boyd

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Cathy Roberts

    Director

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • M Austin Haynes

    Vice President

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • William Speights

    Director

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Steve Delaughter

    Director

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Frankie B King

    Director

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Albert Tiller

    Director

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bryan Wood

    Director

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Rhett Reid

    Director

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Richard Hacker

    Sec/Treas

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Robert Walker

    Asst Sec/Treas

    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 · Compensation committee
  • 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
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202533219349322093

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