Nonprofit · EIN 75-0204684
CONCHO VALLEY ELECTRIC COOPERATIVE INC
Tax-exempt · SAN ANGELO, TX 76902
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $51,588,376 | $51,588,376 | $0 | $162,168,376 | $96,458,085 | $65,710,291 |
| December 31, 2023 | 990 | $51,035,614 | $51,035,614 | $0 | $163,180,402 | $101,257,635 | $61,922,767 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $51,365,698
- Investment income
- $94,183
- Net rental income
- $11,338
- Net income from sales of inventory
- $69,777
- Other revenue
- $128,495
Expenses
- Grants and similar amounts paid
- $28,308
- Benefits paid to members
- $5,627,098
- Compensation of officers, directors and key employees
- $742,211
- Other salaries and wages
- $3,716,029
- Salaries, compensation and benefits (total)
- $6,406,347
- Professional fundraising fees
- $0
- Depreciation
- $4,383,847
Balance sheet and other
- Total assets, start of year
- $150,690,134
- Total assets, end of year
- $162,168,376
- Total liabilities, end of year
- $96,458,085
- Net assets, end of year
- $65,710,291
- Land, buildings and equipment
- $115,534,566
- Gross unrelated business income
- $11,338
- Gross receipts
- $51,711,457
- Employees
- 85
- Volunteers
- 0
- Year formed
- 1940
- 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 |
|---|---|---|---|---|
| KELLY LANKFORD | EXECUTIVE VP/CEO Officer | 50.7 | $373,841 | $127,583 |
| DAVID WATSON | DIR OF FINANCE & OFFICE SERVICES Highest-paid employee | 41.4 | $146,885 | $92,921 |
| DUSTIN BROWN | DIR OF ENGINEERING & OPERATIONS Key employee | 42.5 | $166,287 | $54,250 |
| JONATHAN CUTRER | DIR OF INFORMATION TECHNOLOGY Highest-paid employee | 40.1 | $147,568 | $65,593 |
| TERRY WARD | ENGINEERING FOREMAN Highest-paid employee | 47.3 | $148,578 | $52,677 |
| BUSTER MATHENY | LINE SUPERINTENDENT Highest-paid employee | 42.6 | $131,293 | $47,415 |
| DOUGLAS CLARK | ENGINEERING SYSTEMS ADMINISTRATOR Highest-paid employee | 43.6 | $122,596 | $47,435 |
| DAVID KEMPEN | DIRECTOR Trustee or director | 6.1 | $4,450 | $0 |
| JEFF COPELAND | PRESIDENT Trustee or director, Officer | 27 | $3,500 | $0 |
| DARYL SCHNIERS | DIRECTOR Trustee or director | 4.5 | $3,300 | $0 |
| RALPH WILLBERG | DIRECTOR Trustee or director | 4.2 | $2,400 | $0 |
| WILLIAM WIGGINS | DIRECTOR Trustee or director | 3.8 | $2,400 | $0 |
| LARRY W KLATTENHOFF | VICE-PRESIDENT Trustee or director, Officer | 5.6 | $2,200 | $0 |
| THOMAS CARTER | SECRETARY/TREASURER Trustee or director, Officer | 12.6 | $2,000 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KELLY LANKFORD | EXECUTIVE VP/CEO Officer | 45.5 | $311,468 | $78,434 |
| DAVID WATSON | DIRECTOR OF FINANCE & OFFICE SERVICES Highest-paid employee | 41.8 | $139,181 | $85,044 |
| DUSTIN BROWN | DIRECTOR OF ENGINEERING & OPERATIONS Key employee | 42.5 | $157,900 | $51,477 |
| JONATHAN CUTRER | DIRECTOR OF INFORMATION TECHNOLOGY Highest-paid employee | 40.4 | $141,766 | $59,693 |
| TERRY WARD | ENGINEERING FOREMAN Highest-paid employee | 45.6 | $134,649 | $48,108 |
| BUSTER MATHENY | LINE SUPERINTENDENT Highest-paid employee | 45 | $134,543 | $45,885 |
| ZACHARY BRYAN | FOREMAN Highest-paid employee | 46.9 | $120,433 | $34,071 |
| DAVID KEMPEN | DIRECTOR Trustee or director | 6.4 | $5,250 | $0 |
| DARYL SCHNIERS | DIRECTOR Trustee or director | 4.6 | $4,100 | $0 |
| JEFF COPELAND | PRESIDENT Trustee or director, Officer | 20.4 | $2,900 | $0 |
| THOMAS CARTER | SECRETARY/TREASURER Trustee or director, Officer | 15 | $2,700 | $0 |
| LARRY W KLATTENHOFF | VICE-PRESIDENT Trustee or director, Officer | 5.9 | $2,400 | $0 |
| RALPH WILLBERG | DIRECTOR Trustee or director | 4.4 | $2,400 | $0 |
| WILL WIGGINS | DIRECTOR Trustee or director | 3.2 | $1,800 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 3388, SAN ANGELO, TX 76902-3388
- In care of
- % ISAI GARCIA
- Principal officer (990 for 2024)
- KELLY LANKFORD, PO BOX 3388, SAN ANGELO, TX 769023388
- Signed the 990
- KELLY LANKFORD, EXECUTIVE VP/CEO
- Phone
- (325) 655-6957
- Website
- WWW.CVEC.COOP
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
CONCHO VALLEY ELECTRIC COOPERATIVE, INC. DEDICATES ITSELF TO THE IMPROVEMENT OF ITS MEMBERS' LIFESTYLE AND THE ECONOMIC ENVRIONMENT OF ITS SERVICE AREA. THE COOPERATIVE IS COMMITTED TO PROVIDING SAFE, RELIABLE ELECTRIC SERVICE AT THE LOWEST PRACTICAL COST AND TO MEETING THE CHANGING NEEDS OF ITS MEMBERSHIP WITH A WELL-TRAINED, QUALITY WORKFORCE AND WITH THE USE OF SOUND BUSINESS PRACTICES.
Program accomplishments
- ELECTRIC DIVISION:SALES OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 16,114 ACTIVE SERVICES AT YEAR END.
- BROADBAND DIVISION:SALES OF FIBER BASED BROADBAND INTERNET SERVICES TO MEMBERS ON A COOPERATIVE BASIS. WHEN CUMULATIVE NET MARGINS DERIVED FROM MEMBER SALES OF BROADBAND INTERNET SERVICES EXCEED CUMULATIVE NET LOSSES FROM SUCH SALES, THE COOPERATIVE WILL ALLOCATE PATRONAGE CAPITAL TO THE MEMBER SUBSCRIBERS OF THIS DIVISION. THERE WERE 310 BROADBAND 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
- 75-0204684
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $162,168,376
- Income (IRS master file)
- $51,711,457
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $51,588,376 | $51,588,376 | $162,168,376 | XML |
| 990 | December 2023 | $51,035,614 | $51,035,614 | $163,180,402 | XML |
| 990 | December 2022 | $52,841,209 | $52,841,209 | $144,391,966 | 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 75-0204684).
Questions about CONCHO VALLEY ELECTRIC COOPERATIVE INC
- What is the EIN of CONCHO VALLEY ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of CONCHO VALLEY ELECTRIC COOPERATIVE INC is 75-0204684.
- Is CONCHO VALLEY ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1942.
- Are donations to CONCHO VALLEY ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CONCHO 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 CONCHO 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 CONCHO 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 CONCHO VALLEY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names KELLY LANKFORD.
- Who are the officers and directors of CONCHO VALLEY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 14 people; 14 received compensation from the organization, the highest $373,841 (KELLY LANKFORD, EXECUTIVE VP/CEO).
- How much revenue does CONCHO VALLEY ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $51,588,376, expenses of $51,588,376 and total assets of $162,168,376 at year end.
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