Nonprofit · EIN 74-0498072
BANDERA ELECTRIC COOPERATIVE INC
Tax-exempt · BANDERA, TX 78003
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $114,366,638 | $114,274,372 | $92,266 | $357,726,185 | $241,976,604 | $115,749,581 |
| December 31, 2023 | 990 | $110,428,725 | $110,134,246 | $294,479 | $336,575,781 | $231,000,694 | $105,575,087 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $113,666,293
- Investment income
- $92,574
- Net rental income
- $6,000
- Net gain from sales of assets
- -$36,300
- Net income from sales of inventory
- $176,431
- Other revenue
- $607,771
Expenses
- Grants and similar amounts paid
- $101,968
- Benefits paid to members
- $11,934,781
- Compensation of officers, directors and key employees
- $3,883,108
- Other salaries and wages
- $7,890,014
- Salaries, compensation and benefits (total)
- $14,707,738
- Professional fundraising fees
- $0
- Depreciation
- $11,443,461
Balance sheet and other
- Total assets, start of year
- $336,575,781
- Total assets, end of year
- $357,726,185
- Total liabilities, end of year
- $241,976,604
- Net assets, end of year
- $115,749,581
- Land, buildings and equipment
- $315,887,171
- Gross unrelated business income
- $2,168,833
- Gross receipts
- $114,562,237
- Employees
- 168
- Volunteers
- 0
- Year formed
- 1938
- 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 |
|---|---|---|---|---|
| WILLIAM HETHERINGTON | CHIEF EXECUTIVE OFFICER/GM Officer | 50 | $817,452 | $148,084 |
| JOHN PADALINO | GENERAL COUNSEL/CHIEF ADMIN OFFICER Officer | 60 | $366,292 | $80,012 |
| SHANE SCHMIDT | CHIEF OPERATIONS OFFICER Officer | 52 | $343,468 | $77,783 |
| JOHN RUSH | DIRECTOR OF ELECTRIC OPERATIONS Key employee | 50 | $218,967 | $78,541 |
| MARK BUSBY | T&D OPERATIONS MANAGER Key employee | 50 | $154,676 | $125,285 |
| THILO JANSSEN | DIRECTOR OF ENGINEERING Key employee | 52 | $193,999 | $63,534 |
| STEPHANIE PANKRATZ | CHIEF FINANCIAL OFFICER Officer | 45 | $224,698 | $30,550 |
| ALLEN MARSHALL | DIRECTOR OF BROADBAND OPERATIONS Key employee | 50 | $179,185 | $55,436 |
| JOHNNY OLIBAS | DIRECTOR OF INFORMATION TECHNOLOGY Key employee | 40 | $161,125 | $71,504 |
| JOHN HERNANDEZ | LINE FOREMAN Highest-paid employee | 51 | $163,762 | $66,334 |
| MICHAEL SHULTS | NETWORK OPERATIONS MANAGER Key employee | 46 | $163,624 | $44,368 |
| BILLY SIMPSON | MANAGER OF PRODUCTS & SERV Highest-paid employee | 50 | $148,862 | $52,039 |
| GARRETT CLARK | LINE FOREMAN Highest-paid employee | 49 | $151,554 | $48,146 |
| WILLIAM DOWNUM | LINE FOREMAN Highest-paid employee | 48 | $153,184 | $41,802 |
| JOSEPH SAUCE | INFORMATION TECHNOLOGY MANAGER Highest-paid employee | 45 | $143,810 | $26,131 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHRIS BLAKEMORE | DIRECTOR Trustee or director | 6.9 | $35,500 |
| ANNEGRETH NIEMANN | DIRECTOR Trustee or director | 12.5 | $34,725 |
| JEREMY DILLER | VICE CHAIRMAN Trustee or director, Officer | 6.8 | $34,000 |
| MICHAEL EDWARDS | CHAIRMAN Trustee or director, Officer | 4.8 | $31,700 |
| KURT SOLIS | SECRETARY/TREASURER Trustee or director, Officer | 5.5 | $31,100 |
| ROBERT AGUIRRE | DIRECTOR Trustee or director | 6 | $31,000 |
| FRANCES LAUE | DIRECTOR Trustee or director | 6.3 | $30,000 |
| JEFFERY SLOCUM | DIRECTOR Trustee or director | 6 | $28,500 |
| RICHARD EARNEST | DIRECTOR Trustee or director | 5.4 | $28,000 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| WILLIAM HETHERINGTON | CEO/GENERAL MANAGER Officer | 50 | $723,849 | $139,835 |
| JOHN PADALINO | GENERAL COUNSEL/CHIEF ADMIN OFFICER Officer | 60 | $330,890 | $73,067 |
| SHANE SCHMIDT | VP OF BEC FIBER Key employee | 50 | $326,043 | $73,504 |
| BECKY BRADBURN | CFO Officer | 51 | $250,524 | $85,759 |
| JOHNNY OLIBAS | DIRECTOR OF INFORMATION TECHNOLOGY Key employee | 45 | $217,237 | $82,556 |
| JOHN RUSH | DIRECTOR OF ELECTRIC OPERATIONS Key employee | 50 | $190,033 | $78,436 |
| MARK BUSBY | T&D LINE SUPERINTENDENT Highest-paid employee | 50 | $130,697 | $116,333 |
| THILO JANSSEN | DIRECTOR OF ENGINEERING Key employee | 52 | $180,270 | $59,665 |
| JOHN HERNANDEZ | LINE FOREMAN Highest-paid employee | 54 | $163,823 | $63,063 |
| ALLEN MARSHALL | MANAGER OF OUTSIDE PLANT OPERATIONS Key employee | 50 | $158,463 | $55,952 |
| MICHAEL SHULTS | NETWORK OPERATIONS MANAGER Key employee | 46 | $160,441 | $42,222 |
| BILLY SIMPSON | MANAGER OF PRODUCTS & SERVICES Highest-paid employee | 55 | $149,936 | $50,426 |
| JESSE SALAZAR | LINE FOREMAN Highest-paid employee | 46 | $139,298 | $46,530 |
| JUSTIN MCKENZIE | VP OF APOLLOWARE & ENERGY SERVICES Key employee | 55 | $158,735 | $24,275 |
| GARRETT CLARK | LINE FOREMAN Highest-paid employee | 47 | $131,367 | $46,181 |
| MICHAEL EDWARDS | CHAIRMAN Trustee or director, Officer | 6.3 | $38,100 | $0 |
| JEREMY DILLER | VICE CHAIRMAN Trustee or director, Officer | 7.1 | $36,000 | $0 |
| CHRIS BLAKEMORE | DIRECTOR Trustee or director | 7.4 | $35,000 | $0 |
| ANNEGRETH NIEMANN | DIRECTOR Trustee or director | 16.3 | $34,500 | $0 |
| KURT SOLIS | SECRETARY/TREASURER Trustee or director, Officer | 7.5 | $33,250 | $0 |
| JEFFREY SLOCUM | DIRECTOR Trustee or director | 6.1 | $32,500 | $0 |
| ROBERT AGUIRRE | DIRECTOR Trustee or director | 9.4 | $32,500 | $0 |
| FRANCES LAUE | DIRECTOR Trustee or director | 7.5 | $32,000 | $0 |
| RICHARD EARNEST | DIRECTOR Trustee or director | 6.4 | $30,500 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 667, BANDERA, TX 78003-0667
- In care of
- % BANDERA
- Principal officer (990 for 2024)
- WILLIAM HETHERINGTON, PO BOX 667, BANDERA, TX 78003
- Signed the 990
- STEPHANIE PANKRATZ, CFO
- Phone
- (866) 226-3372
- Website
- WWW.BANDERAELECTRIC.COM
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
LIGHTING THE GRID TO EMPOWER OUR MEMBERS.
Program accomplishments
- ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 42,023 ACTIVE SERVICES AT YEAR END.
- FIBER DIVISION:PROVIDING FIBER OPTIC BROADBAND INTERNET SERVICES TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 13,617 BROADBAND SUBSCRIBERS AT YEAR END.
- ENERGY SERVICES DIVISION:PROVIDING SOLAR ENERGY AND ENERGY MANAGEMENT SOLUTIONS TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL WHEN CUMULATIVE NET MARGINS FROM THESE SERVICES EXCEEDS CUMULATIVE LOSSES. THERE WERE 870 SUBSCRIBERS AT YEAR END.
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
- 74-0498072
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1940
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $357,726,185
- Income (IRS master file)
- $114,562,237
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $114,366,638 | $114,274,372 | $357,726,185 | XML |
| 990 | December 2023 | $110,428,725 | $110,134,246 | $336,575,781 | XML |
| 990 | December 2022 | $101,364,554 | $103,436,072 | $313,922,320 | 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 74-0498072).
Questions about BANDERA ELECTRIC COOPERATIVE INC
- What is the EIN of BANDERA ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of BANDERA ELECTRIC COOPERATIVE INC is 74-0498072.
- Is BANDERA ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1940.
- Are donations to BANDERA ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BANDERA 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 BANDERA 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 BANDERA 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 BANDERA ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names WILLIAM HETHERINGTON.
- Who are the officers and directors of BANDERA ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 24 people; 24 received compensation from the organization, the highest $817,452 (WILLIAM HETHERINGTON, CHIEF EXECUTIVE OFFICER/GM).
- How much revenue does BANDERA ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $114,366,638, expenses of $114,274,372 and total assets of $357,726,185 at year end.
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