Civic Intelligence

Wharton County Electric Cooperative Inc

990 • Fiscal year 2014 • EIN 74-0981915

Jan 01, 2014 to Dec 31, 2014 • Filed on Mar 29, 2015

Organization ProfileWWW.WCECNET.NET
P O Box 31El Campo, TX 77437

(979) 543-6271

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

32nd percentile

0.48x

Higher debt load relative to assets than 32% of similar nonprofits.

2014 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

44th percentile

1.21x

Higher debt load relative to revenue than 44% of similar nonprofits.

2014 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2014

Net Margin

53rd percentile

0.0%

Higher net margin than 53% of similar nonprofits.

2014 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

20th percentile

$173,274

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2014 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2014

Asset Growth

65th percentile

4.5%

Faster asset growth than 65% of similar nonprofits.

2014 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

77th percentile

12%

Faster revenue growth than 77% of similar nonprofits.

2014 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$61,621,266

Up $2,629,398 (+4.5%) from 2013

Net Assets

Up

$32,057,417

Up $2,105,289 (+7.0%) from 2013

Liabilities

Up

$29,563,849

Up $524,109 (+1.8%) from 2013

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin53rd percentile

Revenue

Up

$24,519,465

Up $2,531,355 (+12%) from 2013

Expenses

Up

$24,519,465

Up $2,531,355 (+12%) from 2013

Net Income

Flat

$0

Flat from 2013

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $48,124,546Liabilities 2010: $25,995,734Net Assets 2010: $22,128,8122010Assets 2011: $51,687,072Liabilities 2011: $26,743,306Net Assets 2011: $24,943,7662011Assets 2012: $55,000,205Liabilities 2012: $27,919,626Net Assets 2012: $27,080,5792012Assets 2013: $58,991,868Liabilities 2013: $29,039,740Net Assets 2013: $29,952,1282013Assets 2014: $61,621,266Liabilities 2014: $29,563,849Net Assets 2014: $32,057,4172014Assets 2015: $64,946,774Liabilities 2015: $30,215,026Net Assets 2015: $34,731,7482015Assets 2016: $68,541,934Liabilities 2016: $31,971,621Net Assets 2016: $36,570,3132016Assets 2017: $71,256,863Liabilities 2017: $32,268,051Net Assets 2017: $38,988,8122017Assets 2018: $75,391,504Liabilities 2018: $34,522,198Net Assets 2018: $40,869,3062018Assets 2019: $79,077,031Liabilities 2019: $35,951,517Net Assets 2019: $43,125,5142019Assets 2020: $81,619,701Liabilities 2020: $37,311,380Net Assets 2020: $44,308,3212020Assets 2021: $84,172,616Liabilities 2021: $38,717,838Net Assets 2021: $45,454,7782021Assets 2022: $86,677,432Liabilities 2022: $39,878,766Net Assets 2022: $46,798,6662022Assets 2023: $82,477,702Liabilities 2023: $40,013,155Net Assets 2023: $42,464,5472023Assets 2024: $86,459,491Liabilities 2024: $41,809,918Net Assets 2024: $44,649,5732024

Highlighted filing

2014

Assets$61,621,266
Liabilities$29,563,849
Net Assets$32,057,417
Open 2014 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0Expenses 2010: $17,030,7002010Expenses 2011: $17,744,6922011Expenses 2012: $21,456,9942012Revenue 2013: $21,988,110Expenses 2013: $21,988,110Net Income 2013: $02013Revenue 2014: $24,519,465Expenses 2014: $24,519,465Net Income 2014: $02014Revenue 2015: $22,378,748Expenses 2015: $22,378,748Net Income 2015: $02015Revenue 2016: $22,754,915Expenses 2016: $22,754,915Net Income 2016: $02016Revenue 2017: $23,036,185Expenses 2017: $23,036,185Net Income 2017: $02017Revenue 2018: $23,986,346Expenses 2018: $23,986,346Net Income 2018: $02018Revenue 2019: $23,428,968Expenses 2019: $23,428,968Net Income 2019: $02019Revenue 2020: $23,294,933Expenses 2020: $23,294,933Net Income 2020: $02020Revenue 2021: $23,582,053Expenses 2021: $23,582,053Net Income 2021: $02021Revenue 2022: $28,692,151Expenses 2022: $28,692,151Net Income 2022: $02022Revenue 2023: $28,410,342Expenses 2023: $28,410,342Net Income 2023: $02023Revenue 2024: $28,458,568Expenses 2024: $28,458,568Net Income 2024: $02024

Highlighted filing

2014

Revenue$24,519,465
Expenses$24,519,465
Net Income$0
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Mar 29, 2015
Return Version
2014v5.0
Gross Receipts
$24,519,465
Mission and Program Overview

Mission

To provide economical and reliable electric energy service to its members and to provide products, services, and leadership that will have a positive influence on the economy of the area that it serves.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$41,108,861$43,063,582▲ $1,954,721
Rtn Earn Endowment Incm Other Fnds$29,952,128$32,057,417▲ $2,105,289
Investments Other Securities$13,591,433$14,805,671▲ $1,214,238
Prepaid Expenses and Deferred Charges$1,633,154$1,538,417▼ $94,737
Accounts Receivable$1,848,036$1,535,772▼ $312,264
Cash and Non-Interest-Bearing Accounts$743,905$635,965▼ $107,940
Inventories for Sale or Use$66,479$41,859▼ $24,620
Total Assets$58,991,868$61,621,266▲ $2,629,398
Liabilities
Mortgage Notes Payable Secured by Investment Property$26,841,224$27,342,921▲ $501,697
Accounts Payable and Accrued Expenses$1,743,793$1,764,261▲ $20,468
Other Liabilities$454,723$456,667▲ $1,944
Total Liabilities$29,039,740$29,563,849▲ $524,109
Net Assets / Fund Balance
Total Net Assets Fund Balance$29,952,128$32,057,417▲ $2,105,289
Total Liabilities and Net Assets / Fund Balance$58,991,868$61,621,266▲ $2,629,398

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$40,606,845$2,524,436$43,131,281
Equipment$1,713,495$4,359,908$6,073,403
Buildings$713,320$573,949$1,287,269
Land$29,922-$29,922
Other Securities$14,805,671--
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gary RaybonGm / CEOFT$121,082$52,192$173,274
Wesley LangeElectric SysFT$117,128$49,169$166,297
Wesley LangeElectric System Mgr-$117,128$49,169$166,297
Cheryl RoachSec/treas-$6,200-$6,200
Leroy KasparPresidentPT$5,250-$5,250
Peggy GlazeAsst. Sec/tr-$5,000-$5,000
A J KrestaDirector-$4,600-$4,600
Paul Phillips JrDirector-$4,300-$4,300
Kenneth ChristensenVice Preside-$4,200-$4,200
Frankie J PeterDirector-$3,500-$3,500
Craig a BramDirector-$2,900-$2,900
Keith BramDirector-$2,300-$2,300
Dale KightDirector-$1,700-$1,700

Highest Paid Contractors

ContractorServicesLocationCompensation
Powerline Construction INCConstructionPO BOX 889, Edna, TX 77957$158,636
Asplundh Tree Expert CoTree TrimmingP O BOX 827464, Philadelphia, PA 19182$114,566
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$22,722,513
Investment Income
$1,423,593
Other Revenue
$373,359
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$24,519,465
Total Revenue per Audited Statements
$24,519,465
Total Revenue per Form 990
$24,519,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,777,343
Salaries, Compensation, and Employee Benefits$763,289
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$2,978,833
Depreciation Depletion---$1,500,225
Interest---$1,304,193
Pension Plan Contributions---$485,129
Other Expenses---$469,398
All Other Expenses---$285,630
Current Officers, Directors, Trustees, and Key Employees---$161,032
Other Salaries and Wages---$117,128
Total Functional Expenses$0$0$0$24,519,465

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$24,519,465
Expenses per Audited Statements$22,414,176
Total Expenses per Audited Statements$22,414,176
Expenses Not Reported on Financial Statements$2,105,289
Other Expense Adjustments$2,105,289
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$374,762
Pension Obligation$81,905
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Rural electric cooperative members”

Form 990, Page 6, Part VI, Line 7A

“The board of directors is elected by and accountable to the members”

Form 990, Page 6, Part VI, Line 11B

“Reviewed at board meeting with tax preparer prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Annual affidavits of compliance with conflict of interest policy are requi red of all directors.”

Form 990, Page 6, Part VI, Line 15A

“Comparison of compensation to other cooperatives of like size in the state”

Form 990, Page 6, Part VI, Line 15B

“Comparison of compensation to other cooperatives of like size in the state .”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Wharton County Electric Cooperative
EIN
74-0981915
Phone
9795436271
Address
P O BOX 31, EL CAMPO, TX 77437

Signing Officer

Name
Gary Raybon
Title
Gm/CEO
Phone
9795436271
Signed
2015-03-29
Discuss with paid preparer
Yes

Organization Details

Formed
1938
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
44

Preparer

Firm
Bumgardner Morrison & Co Llp
Address
PO BOX 3750, VICTORIA, TX 77903
Preparer
Jerome G Kotzur CPA
Phone
3615750271
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Patronage dividends allocated to members 2,978,833 retirement of patronage capital -871,094 increase in membership capital 145 decrease in donated capital -2,595”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

“Patronage dividends allocated to members 2,978,833 retirement of patronage capital -871,094 increase in membership capital 145 decrease in donated capital -2,595”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02524436
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt043131281
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt181905
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PENSION OBLIGATION
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENTS IN ASSOCIATED ORGA
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/RevenueSubtotalAmt024519465
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PATRONAGE DIVIDENDS ALLOCATED TO MEMBERS 2,978,833 RETIREMENT OF PATRONAGE CAPITAL -871,094 INCREASE IN MEMBERSHIP CAPITAL 145 DECREASE IN DONATED CAPITAL -2,595
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalBookValueSecuritiesAmt014805671
IRS990ScheduleD/TotalExpensesPerForm990Amt024519465
IRS990ScheduleD/TotalLiabilityAmt0456667
IRS990ScheduleD/TotalRevenuePerForm990Amt024519465
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt024519465
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt022414176
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IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1117128
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt032882
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt129859
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt019310
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt119310
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0GARY RAYBON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1WESLEY LANGE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0GM / CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1ELECTRIC SYSTEM MGR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1166297
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IRS990ScheduleJ/SubstantiationRequiredInd0true
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IRS990ScheduleJ/TravelForCompanionsInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RURAL ELECTRIC COOPERATIVE MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY AND ACCOUNTABLE TO THE MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED AT BOARD MEETING WITH TAX PREPARER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL AFFIDAVITS OF COMPLIANCE WITH CONFLICT OF INTEREST POLICY ARE REQUI RED OF ALL DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPARISON OF COMPENSATION TO OTHER COOPERATIVES OF LIKE SIZE IN THE STATE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPARISON OF COMPENSATION TO OTHER COOPERATIVES OF LIKE SIZE IN THE STATE .
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PATRONAGE DIVIDENDS ALLOCATED TO MEMBERS 2,978,833 RETIREMENT OF PATRONAGE CAPITAL -871,094 INCREASE IN MEMBERSHIP CAPITAL 145 DECREASE IN DONATED CAPITAL -2,595
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WCEC CHARTIABLE FUND INC
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
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IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt061621266
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IRS990/TotalGrossUBIAmt0373359
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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$61,621,266
Liabilities
$29,563,849
Net assets
$32,057,417
Revenue
$24,519,465
Expenses
$24,519,465
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$86.5$41.8$44.6$28.5$28.5$0.00
2023Detailed filing. Detailed filing data is available for this year.$82.5$40.0$42.5$28.4$28.4$0.00
2022Detailed filing. Detailed filing data is available for this year.$86.7$39.9$46.8$28.7$28.7$0.00
2021Detailed filing. Detailed filing data is available for this year.$84.2$38.7$45.5$23.6$23.6$0.00
2020Detailed filing. Detailed filing data is available for this year.$81.6$37.3$44.3$23.3$23.3$0.00
2019Detailed filing. Detailed filing data is available for this year.$79.1$36.0$43.1$23.4$23.4$0.00
2018Detailed filing. Detailed filing data is available for this year.$75.4$34.5$40.9$24.0$24.0$0.00
2017Detailed filing. Detailed filing data is available for this year.$71.3$32.3$39.0$23.0$23.0$0.00
2016Detailed filing. Detailed filing data is available for this year.$68.5$32.0$36.6$22.8$22.8$0.00
2015Detailed filing. Detailed filing data is available for this year.$64.9$30.2$34.7$22.4$22.4$0.00
2014Detailed filing. Detailed filing data is available for this year.$61.6$29.6$32.1$24.5$24.5$0.00
2013Detailed filing. Detailed filing data is available for this year.$59.0$29.0$30.0$22.0$22.0$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.0$27.9$27.1$21.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$51.7$26.7$24.9$17.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.1$26.0$22.1$17.0