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Nonprofiteer
← EAST TEXAS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by EAST TEXAS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$406,106,180
Total expenses
$392,597,285
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$386,241,759
Investment income
$2,479,081
Other revenue
$17,385,340
Total assets, end of year
$1,029,168,672
Total liabilities, end of year
$795,359,642
Net assets or fund balances, end of year
$233,809,030
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: ELECTRIC ENERGY

    total $383,019,804 · related or exempt $383,019,804

  • 2b · Program service revenue: PATRONAGE CAPITAL

    total $3,221,955 · related or exempt $3,221,955

  • 3 · Investment income

    total $2,479,081 · excluded $2,479,081

  • 11a · Other revenue: TRANSMISSION REVENUE

    total $14,922,131 · related or exempt $14,922,131

  • 11b · Other revenue: OTHER INCOME

    total $2,463,209 · related or exempt $2,463,209

  • 11e · Other revenue, total

    $17,385,340

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,536,369

  • 7 · Other salaries and wages

    total $1,841,591

  • 8 · Pension plan contributions

    total $381,042

  • 9 · Other employee benefits

    total $571,420

  • 10 · Payroll taxes

    total $172,623

  • 11a · Fees: management

    total $176,460

  • 11b · Fees: legal

    total $1,412,120

  • 11c · Fees: accounting

    total $195,029

  • 11d · Fees: lobbying

    total $207,202

  • 11g · Fees: other

    total $1,702,779

  • 13 · Office expenses

    total $329,084

  • 17 · Travel

    total $153,217

  • 20 · Interest

    total $27,909,101

  • 22 · Depreciation, depletion and amortization

    total $45,824,815

  • 23 · Insurance

    total $291,618

  • 24a · Other expenses: PURCHASE OF ELECTRIC POWE

    total $133,342,512

  • 24b · Other expenses: TRANSMISSION

    total $72,261,919

  • 24c · Other expenses: PURCHASE OF FUEL

    total $66,819,609

  • 24d · Other expenses: OPERATING EXPENSES - PROD

    total $31,221,156

  • 24e · All other expenses

    total $6,247,619

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,614,643 · end of year $35,334,269

  • 2 · Savings and temporary cash investments

    beginning of year $10,069,031 · end of year $10,589,938

  • 4 · Accounts receivable

    beginning of year $69,510,404 · end of year $64,122,260

  • 8 · Inventories for sale or use

    beginning of year $23,248,543 · end of year $25,602,083

  • 9 · Prepaid expenses and deferred charges

    beginning of year $240,217,641 · end of year $207,142,919

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

    $1,133,972,674

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

    $490,990,262

  • 10c · Land, buildings and equipment, net

    beginning of year $667,697,515 · end of year $642,982,412

  • 13 · Investments: program-related

    beginning of year $37,201,387 · end of year $38,247,355

  • 15 · Other assets

    beginning of year $5,097,086 · end of year $5,147,436

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,292,747 · end of year $45,712,067

  • 19 · Deferred revenue

    beginning of year $5,487,350 · end of year $7,347,641

  • 23 · Secured mortgages and notes payable

    beginning of year $800,872,253 · end of year $742,299,934

  • 31 · Retained earnings, endowment or other funds

    beginning of year $220,003,900 · end of year $233,809,030

Mission and programs · 2023

Mission

SALE OF WHOLESALE POWER TO ITS EIGHT MEMBERS ON A COOPERATIVE BASIS.

  • PROVIDES WHOLESALE POWER TO ITS ONE ELECTRIC GENERATING AND TRANSMISSION COOPERATIVE MEMBER AND SEVEN DISTRIBUTION COOPERATIVE MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Aj Goff

    CEO

    Total calculated
    $902,099
    From this org
    $741,945
    From related orgs
    $0
    Other
    $160,154
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $619,833
    Bonus
    $120,000
    Other
    $2,112
    Deferred
    $123,509
    Nontaxable benefits
    $36,645
    Filer's total
    $902,099

  • Joseph J Hayden

    VP POWER SUP

    Total calculated
    $481,666
    From this org
    $311,976
    From related orgs
    $0
    Other
    $169,690
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $307,452
    Bonus
    not reported
    Other
    $4,524
    Deferred
    $130,259
    Nontaxable benefits
    $39,431
    Filer's total
    $481,666

  • Lawrence Williams

    VP ENGINEERI

    Total calculated
    $287,177
    From this org
    $177,570
    From related orgs
    $0
    Other
    $109,607
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,348
    Bonus
    not reported
    Other
    $4,222
    Deferred
    $74,323
    Nontaxable benefits
    $35,284
    Filer's total
    $287,177

  • Carrie Hawkins

    CFO

    Total calculated
    $282,376
    From this org
    $191,597
    From related orgs
    $0
    Other
    $90,779
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,076
    Bonus
    not reported
    Other
    $521
    Deferred
    $55,202
    Nontaxable benefits
    $35,577
    Filer's total
    $282,376

  • Bobby Huckabay

    MANAGER OF I

    Total calculated
    $257,872
    From this org
    $160,580
    From related orgs
    $0
    Other
    $97,292
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,104
    Bonus
    not reported
    Other
    $1,476
    Deferred
    $62,272
    Nontaxable benefits
    $35,020
    Filer's total
    $257,872

  • James A Wagner

    ENGINEER

    Total calculated
    $283,082
    From this org
    $184,841
    From related orgs
    $0
    Other
    $98,241
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,878
    Bonus
    not reported
    Other
    $963
    Deferred
    $61,953
    Nontaxable benefits
    $36,288
    Filer's total
    $283,082

  • Maggie Berry

    VP GENERAL C

    Total calculated
    $460,225
    From this org
    $319,439
    From related orgs
    $0
    Other
    $140,786
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $318,753
    Bonus
    not reported
    Other
    $686
    Deferred
    $103,885
    Nontaxable benefits
    $36,901
    Filer's total
    $460,225

  • Mark Tamplin

    VICE PRESIDE

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.75

  • Robert Boyd

    DIRECTOR

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.77

  • Trey Teaff

    MANAGER/DIRE

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.75

  • Mark Boyd

    MANAGER/DIRE

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.13

  • Greg Jones

    PRESIDENT

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.25

  • Kathi Calvert

    SEC/TREASURE

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Bryan Wood

    MANAGER/DIRE

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.75

  • Steve Delaughter

    DIRECTOR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.25

  • Frankie B King

    DIRECTOR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.38

  • Pat Brown

    DIRECTOR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Doug Turk

    MANAGER/DIRE

    Total calculated
    $19,000
    From this org
    $19,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.75

  • Kenneth Keeling

    DIRECTOR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.75

  • Rhett Reid

    ASST SECT/TR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.5

  • Austin Haynes

    MANAGER/DIRE

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Dan Courmier

    DIRECTOR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.25

  • Kenneth Langley

    DIRECTOR

    Total calculated
    $19,000
    From this org
    $19,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.75

  • Albert Tiller

    DIRECTOR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.38

  • Wes Barron

    DIRECTOR

    Total calculated
    $19,000
    From this org
    $19,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William Speights

    DIRECTOR

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kennon Kellum

    ADVISORY DIR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • William Emmons

    ADVISORY DIR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Henry Biscamp

    ADVISORY DIR

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

  • Paul Simmons

    ADVISORY DIR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.25

  • Robert Walker

    MANAGER/DIRE

    Total calculated
    $0
    Hours/week
    4.75

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 · 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
30 October 2024
IRS schema version
2023v5.0
Source object
202413119349300241

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