Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SYSTEM ADMINISTRATION

  total $247,479,363 · related or exempt $247,479,363

• 2b · Program service revenue: SECURITIZATION CHARGES

  total $114,541,781 · related or exempt $114,541,781

• 2c · Program service revenue: WEATHERIZATION INSPECT

  total $4,633,307 · related or exempt $4,633,307

• 2d · Program service revenue: CONNECTIVITY TO ERCOT

  total $4,557,721 · related or exempt $4,557,721

• 2e · Program service revenue: WAN

  total $2,469,608 · related or exempt $2,469,608

• 2f · All other program service revenue

  total $1,184,146 · related or exempt $1,184,146

• 3 · Investment income

  total $113,162,041 · related or exempt $111,804,096 · excluded $1,357,945

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $10,605,484 · program services $2,784,959 · management and general $7,820,525

• 7 · Other salaries and wages

  total $120,250,734 · program services $94,611,337 · management and general $25,639,397

• 8 · Pension plan contributions

  total $18,127,932 · program services $14,883,150 · management and general $3,244,782

• 9 · Other employee benefits

  total $10,921,327 · program services $8,577,201 · management and general $2,344,126

• 10 · Payroll taxes

  total $9,717,467 · program services $7,742,893 · management and general $1,974,574

• 11b · Fees: legal

  total $1,817,703 · program services $308,998 · management and general $1,508,705

• 11c · Fees: accounting

  total $307,050 · program services $66,000 · management and general $241,050

• 11f · Fees: investment management

  total $509,315 · management and general $509,315

• 11g · Fees: other

  total $16,550,049 · program services $13,938,708 · management and general $2,611,341

• 13 · Office expenses

  total $1,228,012 · program services $827,402 · management and general $400,610

• 14 · Information technology

  total $3,131,154 · program services $3,091,026 · management and general $40,128

• 16 · Occupancy

  total $5,432,832 · program services $173,850 · management and general $5,258,982

• 17 · Travel

  total $1,032,770 · program services $631,623 · management and general $401,147

• 19 · Conferences, conventions and meetings

  total $1,163,947 · program services $353,670 · management and general $810,277

• 20 · Interest

  total $116,178,913 · program services $114,997,722 · management and general $1,181,191

• 22 · Depreciation, depletion and amortization

  total $34,690,611 · program services $27,144,149 · management and general $7,546,462

• 23 · Insurance

  total $7,417,816 · management and general $7,417,816

• 24a · Other expenses: HARDWARE AND SOFTWARE

  total $40,284,359 · program services $38,629,069 · management and general $1,655,290

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $3,050,832 · program services $2,593,272 · management and general $457,560

• 24e · All other expenses

  total $372,751 · program services $199,056 · management and general $173,695

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $34,717,030 · end of year $57,081,151

• 2 · Savings and temporary cash investments

  beginning of year $4,195,436,322 · end of year $3,294,190,716

• 4 · Accounts receivable

  beginning of year $24,221,179 · end of year $30,031,126

• 9 · Prepaid expenses and deferred charges

  beginning of year $36,147,002 · end of year $41,701,109

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

  $1,090,384,267

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

  $906,143,021

• 10c · Land, buildings and equipment, net

  beginning of year $180,551,167 · end of year $184,241,246

• 11 · Investments: publicly traded securities

  beginning of year $0 · end of year $585,099,840

• 15 · Other assets

  beginning of year $2,493,314,954 · end of year $2,443,348,815

• 17 · Accounts payable and accrued expenses

  beginning of year $96,284,433 · end of year $100,098,110

• 19 · Deferred revenue

  beginning of year $7,669,988 · end of year $9,002,488

• 21 · Escrow or custodial account liability

  beginning of year $2,349,256,338 · end of year $3,776,151,267

• 23 · Secured mortgages and notes payable

  beginning of year $2,934,992,842 · end of year $2,499,167,946

• 25 · Other liabilities

  beginning of year $1,421,081,879 · end of year $878,617

• 27 · Net assets without donor restrictions

  beginning of year $155,102,174 · end of year $250,395,575

The filer's explanations (Part III)

PART I, LINE 7

SHORT-TERM INCENTIVE PLAN (STIP) - ALL ERCOT EMPLOYEES ARE ELIGIBLE PARTICIPANTS IN THE STIP. TARGET AMOUNTS ARE DETERMINED BY JOB LEVEL AND WEIGHTINGS DIFFER BETWEEN EXECUTIVE STAFF AND NON-EXECUTIVE STAFF. WEIGHTINGS ARE BASED ON THE COMPLETION OF CORPORATE GOALS AND EMPLOYEE PERFORMANCE GOALS. ANNUAL INCENTIVE PAYMENTS ARE GRANTED IN Q1 OF THE FOLLOWING YEAR IN WHICH EARNED. LONG TERM INCENTIVE PLAN (LTIP) - ERCOT EXECUTIVES, DIRECTORS, AND PRINCIPALS ARE ELIGIBLE PARTICIPANTS IN THE LTIP. THE LTIP PERFORMANCE PERIOD IS A THREE-YEAR DURATION AND PAYMENTS ARE PAID IN Q1 OF THE YEAR FOLLOWING THE PERFORMANCE PERIOD. TARGET AMOUNTS ARE DETERMINED BY JOB LEVEL AND WEIGHTS BASED ON THE COMPLETION OF CORPORATE GOALS FOR THE PERFORMANCE PERIOD.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• TEXAS ELECTRIC MARKET STABILIZATION FUNDING M LLC

  SECURITIZATION BOND SERVICING · DE · income $13,278,479 · assets $427,377,172

  Directly controlled by ERCOT

• TEXAS ELECTRIC MARKET STABILIZATION FUNDING N LLC

  SECURITIZATION BOND SERVICING · DE · income $102,121,687 · assets $2,126,349,120

  Directly controlled by ERCOT