Central Texas Electric Cooperative INC

Not tax-deductible

Fredericksbrg, TXMutual-benefit / member-servingSince 1947EIN 74-1095072Revenue $86.9M in FY2024

On file with the IRSctec.coop386 Friendship Ln, 78624-5024 · Fredericksbrg, TXTax-exempt since Sep 1951

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To provide quality and reliable Electric service to members at cost on a Cooperative basis.

$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1.5M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$145.8M
57% of total assets
Fine: liabilities are 57% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$86.9M
+7% vs prior year
Spent
$86.9M
Net assets
$111.9M
By yearFY2020–FY2024
Revenue
$86.9M
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$69.9M
FY2021$61.3M
FY2022$70.8M
FY2023$81.6M
FY2024$86.9M
Expenses
$86.9M
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$69.9M
FY2021$61.3M
FY2022$70.8M
FY2023$81.6M
FY2024$86.9M
Net assets
$111.9M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$92.1M
FY2021$96.6M
FY2022$103.4M
FY2023$109.4M
FY2024$111.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1951.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

20 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
$267,462Pt VII · Sec A
$203,690Pt VII · Sec A
Director of Operations
$172,976Pt VII · Sec A
System Services Supervisor
$146,070Pt VII · Sec A
Director of Engineering
$142,123Pt VII · Sec A
$124,213Pt VII · Sec A
IT Manager
$122,513Pt VII · Sec A
$121,246Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Robert Loth III——$295,511$274,479$256,375
Atanacio Hinojosa$267,462$240,330$37,483——
Shawn Stanley$203,690$189,400$50,816——
Dennis Elmore—$193,373———
Mitch Elmore——$175,117$163,696$150,995
Steve Murrow$172,976$129,086$129,496$129,957$117,041
Janet Herber——$166,217$161,685$148,509
Patrick Stahl$146,070$120,350———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Deliver affordable, dependable electricity to members through a cooperative model.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Providing electric energy to our members on a cooperative basis through the allocation of patronage capital. There were 48,088 active services at year end.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 3 grants · $25K · 2021–2023

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$86.9M
Ln 12
Fees for servicesLn 2g$85.9M
Other incomeLn 4–11$593K
Investment incomeLn 3$381K
Money outPt IX
$86.9M
Ln 25
Owns and owesPt X
$111.9M
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$257.7M
LiabilitiesLn 26$145.8M
PeoplePt VI, VII
20
listed · VII A
PaidVII A20
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$85.9M
Investment incomeLn 3$381K
Other incomeLn 4–11$593K
Gains on assetsLn 7$52K
Total revenueLn 12$86.9M
Assets in detailPt X, end of year
CashLn 1$3.0M
SavingsLn 2$50K
Cash and savings togetherLn 1–2$3.1M
InvestmentsLn 11–13$7.4M
Land, buildings, equipmentLn 10c$227.0M
Other assetsLn 15$920K
Total assetsLn 16$257.7M
LiabilitiesLn 26$145.8M
Net assetsLn 32$111.9M
OperationsPt I, VI
EmployeesI 5148
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.8M$3.1M
InvestmentsLn 11–13$6.7M$7.4M
Land, buildings, equipmentLn 10c$213.1M$227.0M
Total assetsLn 16$244.9M$257.7M
LiabilitiesLn 26$135.5M$145.8M
Net assetsLn 32$109.4M$111.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K
Benefits paid to or for membersLn 4$2.4M
Pay of current officers, directors and key staffLn 5$1.0M
Other salaries and wagesLn 7$6.4M
Pension plan contributionsLn 8$983K
Other employee benefitsLn 9$1.3M
Payroll taxesLn 10$461K
InterestLn 20$4.6M
Depreciation, depletion and amortizationLn 22$9.1M
Other expenses (24a–d)Ln 24$60.1M
All other expensesLn 24e$491K
Total functional expensesLn 25$86.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $86.9M$86.9M$0$111.9M 990 PDF
FY2023 $81.6M$81.6M$0$109.4M 990 PDF
FY2022 $70.8M$70.8M$0$103.4M 990 PDF
FY2021 $61.3M$61.3M$0$96.6M 990 PDF
FY2020 $69.9M$69.9M$0$92.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $86,902,121 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $80,685,458$85,928,408
I-10 Investment incomePrior year $341,175$380,730
I-11 Other revenuePrior year $560,369$592,983
I-12 Total revenuePrior year $81,587,002$86,902,121
I-13 Grants and similar amounts paidPrior year $14,159$13,712
I-14 Benefits paid to membersPrior year $5,894,386$2,406,081
I-15 Salaries and benefitsPrior year $9,079,845$10,151,298
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $66,598,612$74,331,030
I-18 Total expensesPrior year $81,587,002$86,902,121
I-19 Revenue less expensesPrior year $0$0
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $86,902,121 across 5 lines filed
Lines not itemized here account for $151,981 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $85,928,408$85,928,408
VIII-3 Investment incomeExcluded from tax $328,541$328,541
VIII-7 Net gain or loss on sales of assetsRelated to mission $52,189$52,189
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $441,002$441,002
VIII-12 Total revenueRelated to mission $86,132,578 · Unrelated business $0 · Excluded from tax $769,543$86,902,121
Part IX · Statement of functional expenses $86,902,121 across 11 lines filed
IX-1 Grants to domestic organizations$13,712
IX-4 Benefits paid to or for members$2,406,081
IX-5 Pay of current officers, directors and key staff$1,019,357
IX-7 Other salaries and wages$6,357,631
IX-8 Pension plan contributions$983,112
IX-9 Other employee benefits$1,330,296
IX-10 Payroll taxes$460,902
IX-20 Interest$4,645,582
IX-22 Depreciation, depletion and amortization$9,076,443
IX-24 Other expenses (24a–d)$60,117,662
IX-24e All other expenses$491,343
IX-25 Total functional expenses$86,902,121
Part X · Balance sheet $257,653,207 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,206,323$3,003,796
X-2 Savings and temporary cash investmentsStart of year $591,073$50,000
X-4 Accounts receivableStart of year $11,009,783$11,449,335
X-8 Inventories for sale or useStart of year $5,478,440$3,649,130
X-9 Prepaid expenses and deferred chargesStart of year $4,857,239$4,206,099
X-10c Land, buildings and equipment, netStart of year $213,061,933$226,969,793
X-13 Program-related investmentsStart of year $6,690,026$7,405,056
X-15 Other assetsStart of year $1,036,024$919,998
X-16 Total assetsStart of year $244,930,841$257,653,207
X-17 Accounts payable and accrued expensesStart of year $9,894,448$10,923,842
X-25 Other liabilitiesStart of year $22,313,986$21,529,403
X-26 Total liabilitiesStart of year $135,547,918$145,761,063
X-32 Total net assets or fund balancesStart of year $109,382,923$111,892,144
X-33 Total liabilities and net assetsStart of year $244,930,841$257,653,207
Part XI · Reconciliation of net assets $111,892,144 net assets at year end
XI-1 Total revenue$86,902,121
XI-2 Total expenses$86,902,121
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$109,382,923
XI-9 Other changes in net assets$2,509,221
XI-10 Net assets at end of year$111,892,144

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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