Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 74-0758801

MAGIC VALLEY ELECTRIC COOPERATIVE INC

Tax-exempt · MERCEDES, TX 78570

Financials

$311.4M$311.2M2023$310.9M$310.7M2024
Revenue Expenses · by fiscal year end
Financials of MAGIC VALLEY ELECTRIC COOPERATIVE INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$310,898,025$310,709,025$189,000$685,887,460$337,226,922$348,660,538
December 31, 2023990$311,413,338$311,236,338$177,000$636,948,801$304,034,043$332,914,758
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$308,747,788
Investment income
$774,694
Net rental income
$6,000
Net gain from sales of assets
$47,208
Other revenue
$1,375,543

Expenses

Grants and similar amounts paid
$106,768
Benefits paid to members
$20,634,195
Compensation of officers, directors and key employees
$870,102
Other salaries and wages
$15,272,102
Salaries, compensation and benefits (total)
$21,684,855
Professional fundraising fees
$0
Depreciation
$17,194,923

Balance sheet and other

Total assets, start of year
$636,948,801
Total assets, end of year
$685,887,460
Total liabilities, end of year
$337,226,922
Net assets, end of year
$348,660,538
Land, buildings and equipment
$440,682,041
Gross receipts
$310,898,025
Employees
316
Volunteers
0
Year formed
1937
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.

NameTitleHours / weekCompensationOther / benefits
BRIAN ACOSTAGENERAL MANAGER
Officer
50$298,272$154,320
ROLANDO RAMONWESTERN OPERATIONS OFFICER
Highest-paid employee
40$149,337$62,574
ABRAHAM QUIROGACENTRAL OPERATIONS OFFICER
Highest-paid employee
40$174,370$36,288
DOMITILO CANTUTECHNICAL SERVICES OFFICER
Highest-paid employee
40$168,606$30,853
SONIA SALAZAR-RANGELFINANCIAL SERVICES OFFICER
Officer
45$157,062$38,448
ELENO TORRES JRLINEMAN A
Highest-paid employee
59$166,833$27,451
HORACIO PEQUENOEASTERN OPERATIONS OFFICER
Highest-paid employee
40$151,302$31,130
DAVID MORALESDIRECTOR
Trustee or director
6.6$42,500$0
BARBARA S MILLERPRESIDENT
Trustee or director, Officer
8.6$37,000$0
ADRIENNE PENA-GARZADIRECTOR
Trustee or director
6.8$33,250$0
ROLANDO ALANIZVICE PRESIDENT
Trustee or director, Officer
5.5$32,000$0
FRANK FERRISASST SECRETARY/TREASURER
Trustee or director, Officer
3.8$27,000$0
DOUGLAS MARTINSECRETARY/TREASURER
Trustee or director, Officer
3.2$26,250$0
JOSHUA KLOSTERMANNDIRECTOR
Trustee or director
3.7$24,000$0
990 for the year ended December 31, 2023: 14 people
NameTitleHours / weekCompensationOther / benefits
BRIAN ACOSTAGENERAL MANAGER
Officer
50$275,075$138,725
ABRAHAM QUIROGACENTRAL DIVISION MANAGER
Highest-paid employee
40$164,463$39,344
DOMITILO CANTUTECHNICAL SERVICES DIVISON MANAGER
Highest-paid employee
40$157,276$29,311
RENE SAENZINFORMATION TECHNOLOGY MANAGER
Highest-paid employee
40$139,634$42,570
DEBORAH ZARATE BOCANEGRAHUMAN RESOURCES MANAGER
Highest-paid employee
40$144,478$37,521
SONIA SALAZAR-RANGELSERVICES DIVISION MANAGER
Officer
45$147,687$33,523
ELENO TORRES JRLINEMAN A
Highest-paid employee
57$151,081$28,997
BARBARA S MILLERPRESIDENT
Trustee or director, Officer
7.4$38,500$0
ROLANDO ALANIZVICE PRESIDENT
Trustee or director, Officer
5.6$34,000$0
DAVID MORALESDIRECTOR
Trustee or director
5.6$34,000$0
ADRIENNE PENA-GARZADIRECTOR
Trustee or director
2.6$33,500$0
FRANK FERRISASST SECRETARY/TREASURER
Trustee or director, Officer
5.3$29,500$0
JOSHUA KLOSTERMANNDIRECTOR
Trustee or director
4$28,000$0
DOUGLAS MARTINSECRETARY/TREASURER
Trustee or director, Officer
3.5$26,750$0

Address and contacts

Address (IRS master file)
PO BOX 267, MERCEDES, TX 78570-0267
Principal officer (990 for 2024)
BRIAN R ACOSTA, PO BOX 267, MERCEDES, TX 785700267
Signed the 990
BRIAN R ACOSTA, GENERAL MANAGER
Phone
(956) 514-1200
Return prepared by
BOLINGER SEGARS GILBERT AND MOSS LLP

Mission

TO ENHANCE PEOPLE'S LIVES BY SAFELY PROVIDING THE MOST RELIABLE AND AFFORDABLE ELECTRIC SERVICE BY KEEPING OUR MEMBERS' BEST INTEREST IN MIND.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 158,435 ACTIVE SERVICES 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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
74-0758801
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1939
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$685,887,460
Income (IRS master file)
$310,898,025

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$310,898,025$310,709,025$685,887,460XML
990December 2023$311,413,338$311,236,338$636,948,801XML
990December 2022$320,139,415$320,112,415$584,754,679IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 74-0758801).

Questions about MAGIC VALLEY ELECTRIC COOPERATIVE INC

What is the EIN of MAGIC VALLEY ELECTRIC COOPERATIVE INC?
The employer identification number (EIN) of MAGIC VALLEY ELECTRIC COOPERATIVE INC is 74-0758801.
Is MAGIC VALLEY ELECTRIC COOPERATIVE INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1939.
Are donations to MAGIC VALLEY ELECTRIC COOPERATIVE INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MAGIC VALLEY 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 MAGIC VALLEY 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 MAGIC VALLEY 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 MAGIC VALLEY ELECTRIC COOPERATIVE INC?
The 990 for the year ended December 31, 2024 names BRIAN R ACOSTA.
Who are the officers and directors of MAGIC VALLEY ELECTRIC COOPERATIVE INC?
The 990 for the year ended December 31, 2024 lists 14 people; 14 received compensation from the organization, the highest $298,272 (BRIAN ACOSTA, GENERAL MANAGER).
How much revenue does MAGIC VALLEY ELECTRIC COOPERATIVE INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $310,898,025, expenses of $310,709,025 and total assets of $685,887,460 at year end.

Other nonprofits in MERCEDES

All nonprofits in MERCEDES · Texas