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← PEDERNALES ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by PEDERNALES ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$882,753,381
Total expenses
$879,429,439
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$877,807,193
Investment income
$587,003
Other revenue
$4,359,185
Total assets, end of year
$2,211,992,643
Total liabilities, end of year
$1,330,888,679
Net assets or fund balances, end of year
$881,103,964
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 $829,599,651 · related or exempt $829,599,651

  • 2b · Program service revenue: TRANSMISSION ACCESS

    total $26,729,117 · related or exempt $26,729,117

  • 2c · Program service revenue: CUSTOMER SERVICE FEES

    total $9,811,639 · related or exempt $9,811,639

  • 2d · Program service revenue: TRANSMISSION LEASE

    total $4,783,618 · related or exempt $4,783,618

  • 2e · Program service revenue: PATRONAGE DIVIDENDS

    total $3,874,885 · related or exempt $3,874,885

  • 2f · All other program service revenue

    total $3,008,283 · related or exempt $3,008,283

  • 3 · Investment income

    total $662,407 · related or exempt $7,095 · excluded $655,312

  • 7a · Gross sales of assets other than inventory

    other assets $172,242

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

    other assets $247,646

  • 7c · Gain or loss

    other assets -$75,404

  • 7d · Net gain or loss

    total -$75,404 · related or exempt -$75,404

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $4,359,185 · excluded $4,359,185

  • 11e · Other revenue, total

    $4,359,185

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $52,777,517

  • 5 · Compensation of officers, directors and key employees

    total $5,628,312

  • 7 · Other salaries and wages

    total $53,456,105

  • 8 · Pension plan contributions

    total $5,787,883

  • 9 · Other employee benefits

    total $5,804,864

  • 10 · Payroll taxes

    total $4,096,698

  • 20 · Interest

    total $44,587,166

  • 22 · Depreciation, depletion and amortization

    total $91,399,068

  • 24a · Other expenses: PURCHASED POWER

    total $510,060,390

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $58,960,423

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $20,802,889

  • 24d · Other expenses: CONSUMER EXPENSE

    total $19,198,791

  • 24e · All other expenses

    total $6,869,333

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,091,355 · end of year $9,387,692

  • 2 · Savings and temporary cash investments

    beginning of year $5,000,000

  • 4 · Accounts receivable

    beginning of year $32,031,672 · end of year $33,246,836

  • 8 · Inventories for sale or use

    beginning of year $36,753,718 · end of year $52,380,454

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,025,596 · end of year $3,630,644

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

    $2,406,557,332

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

    $398,235,071

  • 10c · Land, buildings and equipment, net

    beginning of year $1,880,474,992 · end of year $2,008,322,261

  • 13 · Investments: program-related

    beginning of year $17,880,318 · end of year $20,291,386

  • 15 · Other assets

    beginning of year $97,038,177 · end of year $84,733,370

  • 17 · Accounts payable and accrued expenses

    beginning of year $92,671,979 · end of year $113,421,533

  • 21 · Escrow or custodial account liability

    beginning of year $101,037 · end of year $96,425

  • 23 · Secured mortgages and notes payable

    beginning of year $1,035,154,995 · end of year $1,125,382,139

  • 25 · Other liabilities

    beginning of year $111,092,426 · end of year $91,988,582

  • 29 · Capital stock, trust principal or current funds

    beginning of year $15,988,077 · end of year $16,764,167

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $820,287,314 · end of year $864,339,797

Mission and programs · 2023

Mission

WE ARE COMMITTED TO DELIVERING LOW-COST, RELIABLE, AND SAFE ENERGY FOR OUR MEMBERS.

Activities or mission (Part I)

TO DELIVER LOW-COST, RELIABLE AND SAFE ELECTRIC ENERGY TO THE MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 403,712 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Amy Lea Sj Akers

    DIRECTOR

    Total calculated
    $36,100
    From this org
    $36,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Travis Cox

    SECRETARY/TREASURER

    Total calculated
    $36,600
    From this org
    $36,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    13

  • Mark Ekrut

    PRESIDENT

    Total calculated
    $37,200
    From this org
    $37,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    18

  • Paul Graf

    VICE PRESIDENT

    Total calculated
    $37,200
    From this org
    $37,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    14.3

  • James Oakley

    DIRECTOR

    Total calculated
    $36,100
    From this org
    $36,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Emily Pataki

    DIRECTOR

    Total calculated
    $36,100
    From this org
    $36,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Milton Rister

    DIRECTOR

    Total calculated
    $36,600
    From this org
    $36,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Julie Parsley

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $880,777
    From this org
    $833,543
    From related orgs
    $0
    Other
    $47,234
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $651,017
    Bonus
    $160,962
    Other
    $21,564
    Deferred
    $33,000
    Nontaxable benefits
    $14,234
    Filer's total
    $880,777

  • Edward A Dauterive

    CHIEF OPERATIONS OFFICER

    Total calculated
    $605,227
    From this org
    $507,557
    From related orgs
    $0
    Other
    $97,670
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $389,057
    Bonus
    $97,671
    Other
    $20,829
    Deferred
    $56,893
    Nontaxable benefits
    $40,777
    Filer's total
    $605,227

  • Randy Kruger

    CHIEF FINANCIAL OFFICER

    Total calculated
    $610,588
    From this org
    $545,188
    From related orgs
    $0
    Other
    $65,400
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $392,919
    Bonus
    $131,515
    Other
    $20,754
    Deferred
    $33,000
    Nontaxable benefits
    $32,400
    Filer's total
    $610,588

  • Don Ballard

    GENERAL COUNSEL

    Total calculated
    $598,672
    From this org
    $551,531
    From related orgs
    $0
    Other
    $47,141
    Hours/week
    58

    Schedule J breakdown matched by us

    Base
    $398,073
    Bonus
    $131,510
    Other
    $21,948
    Deferred
    $33,000
    Nontaxable benefits
    $14,141
    Filer's total
    $598,672

  • John Urban

    EVP - EXTERNAL RELATIONS

    Total calculated
    $482,863
    From this org
    $412,492
    From related orgs
    $0
    Other
    $70,371
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $306,160
    Bonus
    $87,482
    Other
    $18,850
    Deferred
    $31,865
    Nontaxable benefits
    $38,506
    Filer's total
    $482,863

  • David Thompson

    VP - MARKETS

    Total calculated
    $427,362
    From this org
    $361,222
    From related orgs
    $0
    Other
    $66,140
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $271,991
    Bonus
    $69,748
    Other
    $19,483
    Deferred
    $28,269
    Nontaxable benefits
    $37,871
    Filer's total
    $427,362

  • Timothy Nance

    VP - MEMBER RELATIONS

    Total calculated
    $383,213
    From this org
    $314,272
    From related orgs
    $0
    Other
    $68,941
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,757
    Bonus
    $141,195
    Other
    $13,320
    Deferred
    $44,642
    Nontaxable benefits
    $24,299
    Filer's total
    $383,213

  • Stephen Maldonado

    VP - OPERATIONS

    Total calculated
    $524,488
    From this org
    $362,971
    From related orgs
    $0
    Other
    $161,517
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $273,768
    Bonus
    $80,280
    Other
    $8,923
    Deferred
    $125,428
    Nontaxable benefits
    $36,089
    Filer's total
    $524,488

  • Jose Trevino

    VP - ENGINEERING

    Total calculated
    $455,908
    From this org
    $397,040
    From related orgs
    $0
    Other
    $58,868
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $274,764
    Bonus
    $103,298
    Other
    $18,978
    Deferred
    $28,269
    Nontaxable benefits
    $30,599
    Filer's total
    $455,908

  • Nathaniel Fulmer

    VP - WORKFORCE & SAFETY OP

    Total calculated
    $403,314
    From this org
    $351,937
    From related orgs
    $0
    Other
    $51,377
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $275,888
    Bonus
    $57,154
    Other
    $18,895
    Deferred
    $28,504
    Nontaxable benefits
    $22,873
    Filer's total
    $403,314

  • Aisha Hagen

    ASSOCIATE GENERAL COUNSEL

    Total calculated
    $414,583
    From this org
    $364,466
    From related orgs
    $0
    Other
    $50,117
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,860
    Bonus
    $67,336
    Other
    $20,270
    Deferred
    $26,077
    Nontaxable benefits
    $24,040
    Filer's total
    $414,583

  • Christian Powell

    VP - COMPLIANCE & REGULATORY

    Total calculated
    $423,227
    From this org
    $360,439
    From related orgs
    $0
    Other
    $62,788
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $266,748
    Bonus
    $74,729
    Other
    $18,962
    Deferred
    $22,442
    Nontaxable benefits
    $40,346
    Filer's total
    $423,227

  • Katherine Jones

    CONTROLLER

    Total calculated
    $421,143
    From this org
    $355,950
    From related orgs
    $0
    Other
    $65,193
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $269,629
    Bonus
    $67,336
    Other
    $18,985
    Deferred
    $28,269
    Nontaxable benefits
    $36,924
    Filer's total
    $421,143

  • John Warren

    DIR OF TRANSMISSION CONTROL CENTER

    Total calculated
    $313,080
    From this org
    $258,688
    From related orgs
    $0
    Other
    $54,392
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $220,708
    Bonus
    $20,995
    Other
    $16,985
    Deferred
    $22,852
    Nontaxable benefits
    $31,540
    Filer's total
    $313,080

  • Paul Lochte

    DIR OF ENGINEERING AND PLANNING

    Total calculated
    $354,628
    From this org
    $253,014
    From related orgs
    $0
    Other
    $101,614
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $219,045
    Bonus
    $30,520
    Other
    $3,449
    Deferred
    $61,794
    Nontaxable benefits
    $39,820
    Filer's total
    $354,628

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 · 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.

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.

  • THE PEDERNALES ELECTRIC COOPERATIVE SCHOLARSHIP FUND

    501(C)(3) · TO PROVIDE SCHOLARSHIPS FOR POST-SECONDARY AND TECHNICAL EDUCATION · TX · controlled entity

    Directly controlled by PEDERNALES ELECTRIC COOPERATIVE INC

  • PEC UNITED CHARITIES INC

    501(C)(3) · TO SUPPORT CHARITABLE CAUSES OF OTHER 501(C)(3) ORGANIZATONS · TX · controlled entity

    Directly controlled by PEDERNALES ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202443139349300439

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