Nonprofit · EIN 74-0524729
BRAZOS ELECTRIC POWER COOPERATIVE INC
Tax-exempt · WACO, TX 76712
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $312,124,623 | $295,608,811 | $16,515,812 | $1,802,974,037 | $1,594,004,607 | $208,969,430 |
| December 31, 2023 | 990 | $292,090,235 | $275,623,370 | $16,466,865 | $1,676,992,262 | $1,487,564,921 | $189,427,341 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $302,244,796
- Investment income
- $4,730,648
- Royalties
- $1,471,437
- Net rental income
- $174,978
- Net gain from sales of assets
- $940,343
- Other revenue
- $5,149,179
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $3,130,605
- Compensation of officers, directors and key employees
- $4,440,891
- Other salaries and wages
- $17,524,326
- Salaries, compensation and benefits (total)
- $27,288,090
- Professional fundraising fees
- $0
- Legal fees
- $1,939,722
- Accounting fees
- $331,272
- Occupancy
- $160,053
- Travel
- $2,677,252
- Depreciation
- $53,901,323
Balance sheet and other
- Total assets, start of year
- $1,676,992,262
- Total assets, end of year
- $1,802,974,037
- Total liabilities, end of year
- $1,594,004,607
- Net assets, end of year
- $208,969,430
- Land, buildings and equipment
- $1,515,063,659
- Gross receipts
- $312,935,916
- Employees
- 306
- Volunteers
- 2
- Year formed
- 1941
- 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 |
|---|---|---|---|---|
| MARK FAGAN | EXECUTIVE VP & GM Officer | 50 | $758,684 | $79,107 |
| JOHNNY YORK | VICE PRESIDENT - TRANSMISSION THROUGH 10/31/2024 Key employee | 41 | $472,994 | $312,804 |
| CLIFTON KARNEI | FORMER EXECUTIVE VP & GM Former | 0 | $683,048 | -$40,424 |
| KHAKI BORDOVSKY | CFO - VP OF CORPORATE SERVICES Officer | 45 | $431,838 | $65,178 |
| KYLE MINNIX | DIRECTOR OF MEMBER SERVICES Key employee | 47 | $255,976 | $93,457 |
| SHARI HEINO | CHIEF RISK & COMPLIANCE OFFICER Key employee | 45 | $278,119 | $59,813 |
| ANTHONY KROSKEY | MANAGER TRANSMISSION SYSTEM OPERATIONS Highest-paid employee | 43 | $215,746 | $84,723 |
| DAVID ALBERS | VICE PRESIDENT - ENGINEERING & SYSTEM PLANNING Key employee | 42 | $216,146 | $75,126 |
| RODNEY LITTLE | CHIEF TECHNOLOGY OFFICER - VP OF IS Key employee | 41 | $249,036 | $40,607 |
| MARK PAVELKA | DIRECTOR OF PROJECT MGMT & BUS DEV Key employee | 48 | $224,957 | $60,931 |
| DAVID FOX | MANAGER FISCAL SERVICES & CONTROLLER Highest-paid employee | 47 | $226,426 | $56,445 |
| DAVID WEBB | COO - VP OF OPS & MAINT Key employee | 45 | $210,454 | $61,991 |
| DEBRA WENDROCK | MANAGER HUMAN RESOURCES Highest-paid employee | 43 | $197,858 | $58,237 |
| JEFFREY STEBBINS | MANAGER TRANSMISSION MAINTENANCE Highest-paid employee | 44 | $197,884 | $51,309 |
| TIMOTHY HARTZ | MANAGER TRANSMISSION ENGINEERING Highest-paid employee | 47 | $193,446 | $53,592 |
21 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSHUA CLEVENGER | FORMER VICE PRESIDENT - POWER SUPPLY Former | 0 | $223,615 | $1,184 |
| RICK ICKERT | SECRETARY/TREASURER Trustee or director, Officer | 8 | $44,007 | $0 |
| AUDIE MORRIS | VICE PRESIDENT Trustee or director, Officer | 9 | $43,573 | $0 |
| DENNIS MCWHORTER | PRESIDENT Trustee or director, Officer | 20 | $43,139 | $0 |
| FRANKIE MARTIN | DIRECTOR Trustee or director | 4 | $42,862 | $0 |
| SCOTT MARTIN | DIRECTOR Trustee or director | 4 | $41,824 | $0 |
| MONTY CARLISLE | DIRECTOR Trustee or director | 8 | $38,785 | $0 |
| HENRY BRADFORD | DIRECTOR Trustee or director | 4 | $38,158 | $0 |
| STEVE JONES | DIRECTOR Trustee or director | 12 | $38,110 | $0 |
| WILLIAM ALLEN | DIRECTOR Trustee or director | 8 | $38,013 | $0 |
| WILLIAM RAGSDALE | DIRECTOR Trustee or director | 15 | $37,843 | $0 |
| JILL SADBERRY | DIRECTOR Trustee or director | 1 | $34,958 | $0 |
| STEVEN VANN HARRIS | DIRECTOR Trustee or director | 6 | $29,327 | $0 |
| KENNETH ALEXANDER | DIRECTOR THROUGH 07/31/2024 Trustee or director | 6 | $19,992 | $0 |
| BILLY JONES | DIRECTOR THROUGH 01/31/2024 Trustee or director | 12 | $3,087 | $0 |
| BRANDON YOUNG | DIRECTOR Trustee or director | 4 | $0 | $0 |
| CAMERON SMALLWOOD | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CODY LASATER | DIRECTOR Trustee or director | 3 | $0 | $0 |
| DONNIE CLARY | DIRECTOR 03/01/2024 THROUGH 03/31/2024 Trustee or director | 6 | $0 | $0 |
| MELISSA WATTS | DIRECTOR THROUGH 03/31/2024 Trustee or director | 6 | $0 | $0 |
| NEIL J HESSE | DIRECTOR Trustee or director | 6 | $0 | $0 |
990 for the year ended December 31, 2023: 31 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CLIFTON KARNEI | EXECUTIVE VP & GM THROUGH 3/31/2023 Officer | 46 | $985,287 | $323,926 |
| JOHNNY YORK | INTERIM EVP & GM 4.1.23 - 8.31.23 Officer | 47 | $511,656 | $293,352 |
| JOSHUA CLEVENGER | VICE PRESIDENT - POWER SUPPLY Key employee | 42 | $510,846 | $103,298 |
| KHAKI BORDOVSKY | VICE PRESIDENT - SERVICES Officer | 41 | $470,473 | $101,475 |
| KYLE MINNIX | MANAGER COMMUNICATION Highest-paid employee | 43 | $236,875 | $110,952 |
| SHARI HEINO | CHIEF COMPLIANCE OFFICER Key employee | 42 | $261,038 | $42,351 |
| TRAVIS THRALL | VICE PRESIDENT - GENERATION Key employee | 45 | $246,604 | $49,122 |
| BRENT FOX | MANAGER FISCAL SERVICES Highest-paid employee | 48 | $223,073 | $61,995 |
| DANIEL KUEKER | MANAGER OF MARKET OPERATIONS AND SETTLEMENT Highest-paid employee | 42 | $246,191 | $34,635 |
| RODNEY LITTLE | MANAGER NETWORK SERVICES Highest-paid employee | 41 | $221,737 | $49,943 |
| MICHAEL EVANS | MANAGER OF POWER SUPPLY Highest-paid employee | 41 | $224,678 | $34,968 |
| MARK FAGAN | EXECUTIVE VP & GM SINCE 9/1/2023 Officer | 46 | $195,970 | $15,561 |
| RICK ICKERT | SECRETARY/TREASURER Trustee or director, Officer | 10 | $48,756 | $0 |
| DENNIS MCWHORTER | PRESIDENT Trustee or director, Officer | 24 | $47,800 | $0 |
| WILLIAM ALLEN | DIRECTOR Trustee or director | 3 | $47,511 | $0 |
| AUDIE MORRIS | VICE PRESIDENT Trustee or director, Officer | 9 | $46,766 | $0 |
| STEVE JONES | DIRECTOR Trustee or director | 12 | $43,693 | $0 |
| FRANKIE MARTIN | DIRECTOR Trustee or director | 4 | $40,354 | $0 |
| KENNETH ALEXANDER | DIRECTOR Trustee or director | 6 | $40,112 | $0 |
| BILLY JONES | DIRECTOR Trustee or director | 12 | $39,738 | $0 |
| WILLIAM RAGSDALE | DIRECTOR Trustee or director | 15 | $39,579 | $0 |
| MONTY CARLISLE | DIRECTOR Trustee or director | 10 | $39,522 | $0 |
| HENRY BRADFORD | DIRECTOR Trustee or director | 5 | $38,899 | $0 |
| GLENN JONES | DIRECTOR Trustee or director | 7 | $26,102 | $0 |
| SCOTT MARTIN | DIRECTOR Trustee or director | 2 | $15,495 | $0 |
| LARRY ANCELL | DIRECTOR Trustee or director | 2 | $1,966 | $0 |
| BRANDON YOUNG | DIRECTOR Trustee or director | 4 | $0 | $0 |
| CAMERON SMALLWOOD | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JAMES LASATER | DIRECTOR Trustee or director | 3 | $0 | $0 |
| NEIL HESSE | DIRECTOR Trustee or director | 3.5 | $0 | $0 |
| STEVE HARRIS | DIRECTOR Trustee or director | 6 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 7616 BAGBY AVE, WACO, TX 76712-6924
- In care of
- % MS KHAKI BORDOVSKY
- Principal officer (990 for 2024)
- MARK FAGAN, 7616 BAGBY AVE, WACO, TX 76712
- Signed the 990
- MARK FAGAN, EXECUTIVE VP & GM
- Phone
- (254) 750-6500
- Website
- WWW.BRAZOSELECTRIC.COM
- Return prepared by
- Forvis Mazars LLP
Mission
BRAZOS ELECTRIC provides safe, reliable, and cost-effective transmission and distribution service to RURAL ELECTRIC DISTRIBUTION COOPERATIVES. BRAZOS SERVES SIXTEEN MEMBER COOPERATIVES.
Program accomplishments
- BRAZOS ELECTRIC provides safe, reliable, and cost-effective transmission and distribution service to RURAL ELECTRIC DISTRIBUTION COOPERATIVES. BRAZOS SERVES SIXTEEN MEMBER COOPERATIVES.
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
- 74-0524729
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1969
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,802,974,037
- Income (IRS master file)
- $312,935,916
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $312,124,623 | $295,608,811 | $1,802,974,037 | XML |
| 990 | December 2023 | $292,090,235 | $275,623,370 | $1,676,992,262 | XML |
| 990 | December 2022 | $1,870,614,504 | $2,636,440,308 | $2,840,038,435 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 74-0524729).
Questions about BRAZOS ELECTRIC POWER COOPERATIVE INC
- What is the EIN of BRAZOS ELECTRIC POWER COOPERATIVE INC?
- The employer identification number (EIN) of BRAZOS ELECTRIC POWER COOPERATIVE INC is 74-0524729.
- Is BRAZOS ELECTRIC POWER COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1969.
- Are donations to BRAZOS ELECTRIC POWER COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BRAZOS ELECTRIC POWER 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 BRAZOS ELECTRIC POWER 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 BRAZOS ELECTRIC POWER 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 BRAZOS ELECTRIC POWER COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names MARK FAGAN.
- Who are the officers and directors of BRAZOS ELECTRIC POWER COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 36 people; 30 received compensation from the organization, the highest $758,684 (MARK FAGAN, EXECUTIVE VP & GM).
- How much revenue does BRAZOS ELECTRIC POWER COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $312,124,623, expenses of $295,608,811 and total assets of $1,802,974,037 at year end.
Other nonprofits in WACO
- BAYLOR UNIVERSITY EIN 74-1159753 · last filed 990-N for 2024
- METHODIST CHILDRENS HOME EIN 74-1109750 · last filed 990 for 2025
- HEART OF TEXAS COMMUNITY HEALTH CENTER INC EIN 74-2867580 · last filed 990 for 2024
- BRAZOS EDUCATION LOAN AUTHORITY INC EIN 20-3868073 · last filed 990 for 2025
- BRAZOS HIGHER EDUCATION AUTHORITY INC EIN 74-2099402 · last filed 990 for 2025
- EDUCATION SERVICE CENTER REGION XII OF TEXAS EIN 74-1586927 · last filed 990 for 2025
- TEXAS FARM BUREAU EIN 74-1145986 · last filed 990 for 2024
- BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC EIN 74-2129255 · last filed 990 for 2025