Nonprofit · EIN 20-5724955
HEART OF TEXAS ELECTRIC COOPERATIVE INC
Tax-exempt · MC GREGOR, TX 76657
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $68,683,784 | $68,683,784 | $0 | $118,485,448 | $38,994,080 | $79,491,368 |
| December 31, 2023 | 990 | $73,385,808 | $73,759,784 | -$373,976 | $116,421,421 | $37,209,344 | $79,212,077 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $71,343,072
- Investment income
- -$2,815,277
- Net rental income
- $137,259
- Net gain from sales of assets
- -$2,844,346
- Net income from sales of inventory
- -$1,707
- Other revenue
- $155,989
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $1,404,183
- Compensation of officers, directors and key employees
- $426,161
- Other salaries and wages
- $826,711
- Salaries, compensation and benefits (total)
- $1,252,872
- Professional fundraising fees
- $0
- Depreciation
- $4,038,195
Balance sheet and other
- Total assets, start of year
- $116,421,421
- Total assets, end of year
- $118,485,448
- Total liabilities, end of year
- $38,994,080
- Net assets, end of year
- $79,491,368
- Land, buildings and equipment
- $80,167,166
- Gross receipts
- $71,609,012
- Employees
- 73
- Year formed
- 2007
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRANDON YOUNG | GM/CEO Officer | 40 | $208,476 | $67,021 |
| BRYAN CHANDLER | OPERATIONS M Highest-paid employee | 40 | $138,935 | $64,502 |
| RANDY WESTERFIELD | LINE SUPERIN Highest-paid employee | 42.8 | $120,712 | $53,315 |
| JONATHAN WILDE | LINE SUPERIN Highest-paid employee | 52.2 | $127,612 | $32,010 |
| SHAWN ASHCRAFT | JOURNEYMAN L Highest-paid employee | 52.4 | $126,786 | $26,130 |
| TYRELL GREGER | JOURNEYMAN L Highest-paid employee | 50.4 | $120,163 | $16,546 |
| MICHAEL DANIEL | CFO Officer | 40 | $48,404 | $15,726 |
| KERMIT DREYER | DIRECTOR Trustee or director | 1 | $8,550 | $3,557 |
| BOBBY NAWARA | SECRETARY/TR Trustee or director | 1 | $9,350 | $521 |
| GARLAND COOK | PRESIDENT Trustee or director | 1 | $9,391 | $6 |
| PAUL EDGE | DIRECTOR Trustee or director | 1 | $9,377 | $4 |
| DAN FOSTER | DIRECTOR Trustee or director | 1 | $9,350 | $6 |
| ALLEN SHOWS | DIRECTOR Trustee or director | 1 | $9,350 | $6 |
| DAMON BONIFACE | DIRECTOR Trustee or director | 1 | $9,150 | $6 |
| LARRY STOCK | VICE-PRESIDE Trustee or director | 1 | $8,950 | $6 |
1 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KENNETH HOLLAS | DIRECTOR Trustee or director | 1 | $8,950 | $3 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRANDON YOUNG | GM/CEO Officer | 40 | $209,457 | $68,996 |
| BRYAN CHANDLER | OPERATIONS M Highest-paid employee | 40 | $137,302 | $54,498 |
| JIM BATES | ADMIN SERVIC Highest-paid employee | 40 | $111,605 | $40,812 |
| BARRY BALLARD | LEAD LINEMAN Highest-paid employee | 47.8 | $121,657 | $29,864 |
| SHAWN ASHCRAFT | LINEMAN 1ST Highest-paid employee | 47.9 | $114,952 | $22,772 |
| HOBIE WARD | LEAD LINEMAN Highest-paid employee | 46.5 | $115,223 | $14,656 |
| PAUL EDGE | DIRECTOR Trustee or director | 1 | $5,900 | $4 |
| KERMIT DREYER | DIRECTOR Trustee or director | 1 | $2,346 | $3,557 |
| BOBBY NAWARA | SECRETARY/TR Trustee or director | 1 | $5,382 | $521 |
| GARLAND COOK | PRESIDENT Trustee or director | 1 | $5,850 | $6 |
| ALLEN SHOWS | DIRECTOR Trustee or director | 1 | $5,750 | $6 |
| KENNETH HOLLAS | DIRECTOR Trustee or director | 1 | $5,750 | $3 |
| DAMON BONIFACE | DIRECTOR Trustee or director | 1 | $5,637 | $6 |
| DAN FOSTER | DIRECTOR Trustee or director | 1 | $5,600 | $6 |
| LARRY STOCK | VICE-PRESIDE Trustee or director | 1 | $5,600 | $6 |
Address and contacts
- Address (IRS master file)
- 1111 JOHNSON DR, MC GREGOR, TX 76657-1917
- In care of
- % BRANDON YOUNG
- Principal officer (990 for 2024)
- BRANDON YOUNG, 1111 S JOHNSON DRIVE, MCGREGOR, TX 76657
- Signed the 990
- BRANDON YOUNG, GM/CEO
- Phone
- (254) 840-2871
- Website
- WWW.HOTEC.COOP
- Return prepared by
- BRISCOE BURKE & GRIGSBY LLP
Mission
TO PROVIDE ELECTRICITY TO RURAL AREAS IN TEXAS ON A COOPERATIVE BASIS.
Program accomplishments
- TO PROVIDE ELECTRICITY TO OUR MEMBERS - 24,898 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-5724955
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 2009
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Mutual and membership benefit (Y22)
- Assets (IRS master file)
- $118,485,448
- Income (IRS master file)
- $71,609,012
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $68,683,784 | $68,683,784 | $118,485,448 | XML |
| 990 | December 2023 | $73,385,808 | $73,759,784 | $116,421,421 | XML |
| 990 | December 2022 | $38,245,612 | $38,329,991 | $119,447,821 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5724955).
Questions about HEART OF TEXAS ELECTRIC COOPERATIVE INC
- What is the EIN of HEART OF TEXAS ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of HEART OF TEXAS ELECTRIC COOPERATIVE INC is 20-5724955.
- Is HEART OF TEXAS ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 2009.
- Are donations to HEART OF TEXAS ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does HEART OF TEXAS ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HEART OF TEXAS ELECTRIC COOPERATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HEART OF TEXAS ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of HEART OF TEXAS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names BRANDON YOUNG.
- Who are the officers and directors of HEART OF TEXAS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 16 people; 16 received compensation from the organization, the highest $208,476 (BRANDON YOUNG, GM/CEO).
- How much revenue does HEART OF TEXAS ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $68,683,784, expenses of $68,683,784 and total assets of $118,485,448 at year end.
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