Civic Intelligence

Northeast Texas Electric Cooperative

990 • Fiscal year 2014 • EIN 75-1615421

Jan 01, 2014 to Dec 31, 2014 • Filed on May 14, 2015

Organization ProfileN/A
2221 H G Mosley ParkwayLongview, TX 75604

(903) 757-3282

Siviq Scores

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

Liabilities / Assets

49th percentile

0.63x

Higher debt load relative to assets than 49% of similar nonprofits.

2014 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

12th percentile

0.70x

Higher debt load relative to revenue than 12% of similar nonprofits.

2014 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2014

Net Margin

42nd percentile

0.0%

Higher net margin than 42% of similar nonprofits.

2014 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

18th percentile

$298,626

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2014 filings • $250M-$1B nonprofits • Source year 2014

Asset Growth

7th percentile

-4.4%

Faster asset growth than 7% of similar nonprofits.

2014 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Revenue Growth

55th percentile

5.5%

Faster revenue growth than 55% of similar nonprofits.

2014 filings • $250M-$1B nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$278,215,062

Down $12,883,602 (-4.4%) from 2013

Net Assets

Up

$104,317,902

Up $4,349,106 (+4.4%) from 2013

Liabilities

Down

$173,897,160

Down $17,232,708 (-9.0%) from 2013

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin42nd percentile

Revenue

Up

$250,005,881

Up $13,031,287 (+5.5%) from 2013

Expenses

Up

$250,005,881

Up $13,031,287 (+5.5%) from 2013

Net Income

Flat

$0

Flat from 2013

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$400M$300M$200M$100M$0Assets 2011: $296,804,649Liabilities 2011: $208,251,753Net Assets 2011: $88,552,8962011Assets 2012: $291,991,991Liabilities 2012: $196,861,079Net Assets 2012: $95,130,9122012Assets 2013: $291,098,664Liabilities 2013: $191,129,868Net Assets 2013: $99,968,7962013Assets 2014: $278,215,062Liabilities 2014: $173,897,160Net Assets 2014: $104,317,9022014Assets 2015: $279,743,512Liabilities 2015: $171,336,174Net Assets 2015: $108,407,3382015Assets 2016: $270,311,536Liabilities 2016: $159,467,942Net Assets 2016: $110,843,5942016Assets 2017: $271,564,445Liabilities 2017: $158,764,965Net Assets 2017: $112,799,4802017Assets 2018: $246,769,727Liabilities 2018: $131,306,956Net Assets 2018: $115,462,7712018Assets 2019: $249,366,062Liabilities 2019: $131,250,621Net Assets 2019: $118,115,4412019Assets 2020: $270,511,806Liabilities 2020: $150,099,957Net Assets 2020: $120,411,8492020Assets 2021: $329,483,821Liabilities 2021: $206,715,078Net Assets 2021: $122,768,7432021Assets 2022: $321,398,197Liabilities 2022: $195,922,102Net Assets 2022: $125,476,0952022Assets 2023: $303,655,928Liabilities 2023: $176,181,994Net Assets 2023: $127,473,9342023Assets 2024: $294,120,365Liabilities 2024: $162,071,260Net Assets 2024: $132,049,1052024

Highlighted filing

2014

Assets$278,215,062
Liabilities$173,897,160
Net Assets$104,317,902
Open 2014 Filing

Operations Trend

Revenue Growth55th percentile

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

$400M$300M$200M$100M$0Revenue 2011: $221,191,481Expenses 2011: $221,191,481Net Income 2011: $02011Revenue 2012: $212,845,601Expenses 2012: $212,845,601Net Income 2012: $02012Revenue 2013: $236,974,594Expenses 2013: $236,974,594Net Income 2013: $02013Revenue 2014: $250,005,881Expenses 2014: $250,005,881Net Income 2014: $02014Revenue 2015: $225,168,739Expenses 2015: $225,168,739Net Income 2015: $02015Revenue 2016: $224,160,898Expenses 2016: $224,160,898Net Income 2016: $02016Revenue 2017: $221,520,049Expenses 2017: $217,519,638Net Income 2017: $4,000,4112017Revenue 2018: $238,272,017Expenses 2018: $234,414,541Net Income 2018: $3,857,4762018Revenue 2019: $217,648,634Expenses 2019: $214,061,017Net Income 2019: $3,587,6172019Revenue 2020: $213,380,688Expenses 2020: $210,044,382Net Income 2020: $3,336,3062020Revenue 2021: $288,674,270Expenses 2021: $285,980,377Net Income 2021: $2,693,8932021Revenue 2022: $309,803,168Expenses 2022: $307,095,816Net Income 2022: $2,707,3522022Revenue 2023: $237,882,729Expenses 2023: $234,692,076Net Income 2023: $3,190,6532023Revenue 2024: $239,053,261Expenses 2024: $234,478,090Net Income 2024: $4,575,1712024

Highlighted filing

2014

Revenue$250,005,881
Expenses$250,005,881
Net Income$0
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 14, 2015
Return Version
2014v5.0
Gross Receipts
$250,005,881
Mission and Program Overview

Mission

NTEC Provides wholesale electric generating, purchasing, and transmission to its member electric cooperatives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$190,911,096$187,631,558▼ $3,279,538
Rtn Earn Endowment Incm Other Fnds$99,938,796$104,287,902▲ $4,349,106
Accounts Receivable$35,963,749$27,026,235▼ $8,937,514
Cash and Non-Interest-Bearing Accounts$11,633,040$15,854,558▲ $4,221,518
Inventories for Sale or Use$4,057,940$3,675,285▼ $382,655
Prepaid Expenses and Deferred Charges$4,344,149$3,041,712▼ $1,302,437
Investments in Publicly Traded Securities$547,000$0▼ $547,000
Savings and Temporary Cash Investments$314,709$331,966▲ $17,257
Pd in Cap Srpls Land Bldg Eqp Fund$30,000$30,000→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$291,098,664$278,215,062▼ $12,883,602
Other Assets Total$43,326,981$40,653,748▼ $2,673,233
Liabilities
Mortgage Notes Payable Secured by Investment Property$156,251,983$143,464,115▼ $12,787,868
Accounts Payable and Accrued Expenses$25,563,310$23,271,936▼ $2,291,374
Other Liabilities$9,314,575$7,161,109▼ $2,153,466
Total Liabilities$191,129,868$173,897,160▼ $17,232,708
Net Assets / Fund Balance
Total Net Assets Fund Balance$99,968,796$104,317,902▲ $4,349,106
Total Liabilities and Net Assets / Fund Balance$291,098,664$278,215,062▼ $12,883,602

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$187,631,558$151,136,150$338,767,708
Other Assets Org$435,754--
Compensation and Service Providers
Top Officer Pay18th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard M TylerGeneral ManagerFT$202,000$96,626$298,626
Jason AtwoodVP Engineering and OperationsFT$155,000$88,732$243,732
Frankie B KingPresidentPT$20,125$3$20,128
Pat LindleyDirector-$10,925$2$10,927
Steve DelaughterDirector-$10,350$3$10,353
J P DobbsDirector-$10,350$2$10,352
Sam AllisonDirector-$9,200$3$9,203
Basil GibbsDirector-$8,050$1$8,051
Debra RobinsonDirector--$3$3
Doug TurkDirector--$3$3
Kathy WoodSecretary--$3$3
Mark BoydVice President--$3$3
RICHARD McLEONASS'T SEC./TREA--$3$3
Rob WalkerDirector--$3$3

Highest Paid Contractors

ContractorServicesLocationCompensation
Gds & Associates INCEngineering1850 PARKWAY PLACE SUITE 800, Marietta, GA 30067$1,223,178
Holland & Knight LLPLegal Service800 17TH STREET NW SUITE 1100, Washington, DC 20006$535,482
Brickfield Burchette Ritts & Stone PCLegal Services1025 THOMAS JEFFERSON NW, Washington, DC 20007$465,656
Knuckols Duvall Hallum & CoAccounting204 S WELLINGTON ST, Marshall, TX 75670$267,056
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$248,254,890
Investment Income
$1,696,213
Other Revenue
$54,778
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$250,005,881
Total Revenue per Audited Statements
$250,005,881
Total Revenue per Form 990
$250,005,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$243,935,865
Salaries, Compensation, and Employee Benefits$720,910
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$24,933,673--$24,933,673
Depreciation Depletion$9,904,017--$9,904,017
Other Expenses$8,034,299--$8,034,299
Interest$7,637,162--$7,637,162
Benefits to Members$5,349,106--$5,349,106
Fees for Services Other$1,298,508--$1,298,508
Fees for Services Legal$1,001,138--$1,001,138
Insurance$693,840--$693,840
Current Officers, Directors, Trustees, and Key Employees$298,626--$611,390
Fees for Services Accounting$243,539--$243,539
Office Expenses$91,526--$91,526
Travel$73,097--$73,097
Other Salaries and Wages$46,175--$46,175
Occupancy$43,195--$43,195
Payroll Taxes$26,791--$26,791
Other Employee Benefits$26,100--$26,100
Conferences and Meetings$15,791--$15,791
Pension Plan Contributions$10,454--$10,454
Total Functional Expenses$249,693,117$0$0$250,005,881

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$250,005,881
Expenses per Audited Statements$244,656,775
Total Expenses per Audited Statements$244,656,775
Expenses Not Reported on Financial Statements$5,349,106
Other Expense Adjustments$5,349,106
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Aep - Power Cost Refund$4,759,532
Deferred Credit Pirkey Mine Closing$3,410,874
Power Costs Levelized Billings$-1,009,297
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
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, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The Organization is an Electric Power Generation & Transmission Cooperativethat furnishes electric power requirements to six Electric Distribution Cooperatives who are members of this organization.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“A copy of the Form 990 is mailed to each Director prior to its filing and is also reviewed and approved at the next Board of Directors meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The Conflict of Interests Policy requires that each official annually disclose interests to the Board that could create the appearance of a conflict of interest and certify that they have received and reviewed a copy of the Conflict of Interests Policy.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Board of Directors reviews and approves the officer compensation and benefits package on an annual basis with a decision based on the vote of the entire Board of Directors.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The Board of Directors reviews and approves the officers compensation and benefits package on an annual basis with the decision based on the advice of the General Manager and the vote of the Board of Directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Form 990 is available on requests at a convenient location and time.”

Filing and Contact Details

Filer

Filer Name
Northeast Texas Electric Cooperative
EIN
75-1615421
Phone
9037573282
Address
2221 H G MOSLEY PARKWAY, LONGVIEW, TX 75604

Signing Officer

Name
Frankie B King
Title
President
Signed
2015-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
1978
Legal Domicile
TX
Voting Board Members
12
Independent Board Members
12
Employees
3

Preparer

Firm
Knuckols Duvall Hallum & Co
Address
204 S Wellington, Marshall, TX 75670
Preparer
Robert L Duvall CPA
Phone
9039380331
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“2014 patronage capital to be allocated = $5349106”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Patronage capital paid = -$1000000”

Financial Statement Notes

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“2014 patronage capital to be allocated $5349106”

Raw XML AppendixShowing 400 of 522 raw XML fields

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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IRS990/Form990PartVIISectionAGrp/TitleTxt7President
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IRS990/MinutesOfCommitteesInd0true
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherAssetsTotalGrp/EOYAmt040653748
IRS990/OtherChangesInNetAssetsAmt04349106
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt026100
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IRS990/OtherExpensesGrp/Desc1FUEL COST - PIRKEY
IRS990/OtherExpensesGrp/Desc2TRANSMISSION COSTS
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IRS990/OtherExpensesGrp/ProgramServicesAmt119418788
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IRS990/OtherExpensesGrp/TotalAmt119418788
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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
$278,215,062
Liabilities
$173,897,160
Net assets
$104,317,902
Revenue
$250,005,881
Expenses
$250,005,881
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$294$162$132$239$234$4.58
2023Summary only. Only limited summary data is available for this year.$304$176$127$238$235$3.19
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$321$196$125$310$307$2.71
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$329$207$123$289$286$2.69
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$271$150$120$213$210$3.34
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$249$131$118$218$214$3.59
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$247$131$115$238$234$3.86
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$272$159$113$222$218$4.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$270$159$111$224$224$0.00
2015Detailed filing. Detailed filing data is available for this year.$280$171$108$225$225$0.00
2014Detailed filing. Detailed filing data is available for this year.$278$174$104$250$250$0.00
2013Detailed filing. Detailed filing data is available for this year.$291$191$100.0$237$237$0.00
2012Summary only. Only limited summary data is available for this year.$292$197$95.1$213$213$0.00
2011Summary only. Only limited summary data is available for this year.$297$208$88.6$221$221$0.00