Nonprofit · EIN 75-0300645
GRAYSON-COLLIN ELECTRIC COOPERATIVE INC
Tax-exempt · VAN ALSTYNE, TX 75495
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $261,559,164 | $258,249,552 | $3,309,612 | $738,913,822 | $541,625,204 | $197,288,618 |
| December 31, 2023 | 990 | $199,747,533 | $196,774,554 | $2,972,979 | $646,811,614 | $497,967,270 | $148,844,344 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $259,095,404
- Investment income
- $1,770,293
- Net rental income
- $166,099
- Net gain from sales of assets
- $173,117
- Other revenue
- $693,467
Expenses
- Grants and similar amounts paid
- $67,421
- Benefits paid to members
- $49,991,630
- Compensation of officers, directors and key employees
- $3,573,251
- Other salaries and wages
- $8,761,399
- Salaries, compensation and benefits (total)
- $14,433,732
- Professional fundraising fees
- $0
- Depreciation
- $22,041,558
Balance sheet and other
- Total assets, start of year
- $646,811,614
- Total assets, end of year
- $738,913,822
- Total liabilities, end of year
- $541,625,204
- Net assets, end of year
- $197,288,618
- Land, buildings and equipment
- $643,202,541
- Gross receipts
- $261,731,545
- Employees
- 157
- 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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID MCGINNIS | CEO/GM Officer | 60 | $599,572 | $58,489 |
| KEVIN STEVENS | COO Officer | 60 | $329,358 | $54,592 |
| TRACY BEGLEY | MANAGER OF INSIDE OPS Key employee | 45 | $279,317 | $64,180 |
| MIKE ROLANDT | CFO Officer | 45 | $273,272 | $64,938 |
| CHRIS OFFILL | CEO/CFO COMMUNICATIONS Officer | 45 | $269,712 | $51,790 |
| TYLER DEBEY | DIRECTOR OF ENGINEERING Key employee | 45 | $237,618 | $62,160 |
| LESLIE SIMCO | MANAGER OF OPERATIONS Key employee | 40 | $221,718 | $59,699 |
| JEFF SMITH | MANAGER OF IT Key employee | 40 | $230,571 | $48,636 |
| PAUL YATES | MANAGER OF OPERATIONS Key employee | 40 | $224,747 | $47,705 |
| WILLIAM MCGINNIS | MGR OF BUS. DEVELOPMENT Highest-paid employee | 48 | $206,780 | $56,881 |
| MARTY JONES | MANAGER OF OPERATIONS Key employee | 55 | $210,690 | $45,528 |
| ANDY HAMMER | FOREMAN Highest-paid employee | 50 | $196,371 | $54,629 |
| EDDY REECE | SUBSTATION MANAGER Highest-paid employee | 50 | $191,937 | $58,207 |
| MICHAEL LAUER | MGR OF BUS. DEVELOPMENT Highest-paid employee | 43 | $196,463 | $45,357 |
| SHAWN WRIGHT | MANAGER FO OPERATIONS Highest-paid employee | 45 | $192,745 | $40,560 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID ELLIS | DIRECTOR Trustee or director | 4 | $43,886 |
| JIM COPELAND | SECRETARY/TREASURER Trustee or director, Officer | 4 | $43,286 |
| STEVE ROBINSON | PRESIDENT Trustee or director, Officer | 4 | $18,471 |
| DENNIS FERGUSON | DIRECTOR Trustee or director | 4 | $18,471 |
| PAUL KIRKLAND | VICE PRESIDENT Trustee or director, Officer | 4 | $14,845 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID MCGINNIS | GENERAL MANAGER/CEO Officer | 60 | $534,884 | $59,321 |
| KEVIN STEVENS | COO Officer | 60 | $288,367 | $54,079 |
| MIKE ROLANDT | CFO Officer | 45 | $243,097 | $64,988 |
| TRACY BEGLEY | MANAGER OF INSIDE OPERATIONS Key employee | 45 | $241,784 | $63,809 |
| CHRIS OFFILL | CEO/CFO COMMUNICATIONS Officer | 50 | $241,208 | $52,082 |
| PAUL YATES | MANAGER OF UNDERGROUND OPERATIONS Key employee | 40 | $226,484 | $49,291 |
| LESLIE SIMCO | MANAGER OF OPERATIONS Key employee | 45 | $192,398 | $59,714 |
| JEFF SMITH | MANAGER OF INFORMATION TECHNOLOGY Key employee | 40 | $202,614 | $48,633 |
| JASON SPROWL | MANAGER OF OPERATIONS - LOSS CONTROL Highest-paid employee | 43 | $188,601 | $59,392 |
| WILLIAM MCGINNIS | MANAGER OF BUS. DEVELOPMENT Highest-paid employee | 50 | $184,611 | $55,059 |
| MICHAEL LAUER | MANAGER OF BUS. DEVELOPMENT Highest-paid employee | 43 | $190,327 | $47,066 |
| MARC KARO | FOREMAN Highest-paid employee | 50 | $178,769 | $54,780 |
| EDDY REECE | MANAGER OF SUBSTATIONS Key employee | 60 | $171,272 | $58,588 |
| MARTY JONES | MANAGER OF OPERATIONS Key employee | 55 | $177,242 | $45,902 |
| SHAWN WRIGHT | LINE SUPERINTENDENT - SERVICE SUPERVISOR Highest-paid employee | 40 | $170,394 | $41,441 |
| JIM COPELAND | SECRETARY/TREASURER Trustee or director, Officer | 4 | $43,004 | $0 |
| DAVID ELLIS | DIRECTOR Trustee or director | 4 | $42,804 | $0 |
| DENNIS FERGUSON | DIRECTOR Trustee or director | 4 | $17,832 | $0 |
| STEVE ROBINSON | PRESIDENT Trustee or director, Officer | 4 | $17,732 | $0 |
| PAUL KIRKLAND | VICE PRESIDENT Trustee or director, Officer | 4 | $14,167 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 548, VAN ALSTYNE, TX 75495-0548
- Principal officer (990 for 2024)
- DAVID MCGINNIS, PO BOX 548, VAN ALSTYNE, TX 754950548
- Signed the 990
- MIKE ROLANDT, CFO
- Phone
- (903) 482-7100
- Website
- WWW.GCEC.NET
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
TO PROVIDE THE VERY BEST SERVICE POSSIBLE AT THE LEAST COST POSSIBLE.
Program accomplishments
- PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 95,519 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 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
- 75-0300645
- 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)
- $738,913,822
- Income (IRS master file)
- $261,731,545
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $261,559,164 | $258,249,552 | $738,913,822 | XML |
| 990 | December 2023 | $199,747,533 | $196,774,554 | $646,811,614 | XML |
| 990 | December 2022 | $205,305,170 | $203,332,128 | $551,504,092 | 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 75-0300645).
Questions about GRAYSON-COLLIN ELECTRIC COOPERATIVE INC
- What is the EIN of GRAYSON-COLLIN ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of GRAYSON-COLLIN ELECTRIC COOPERATIVE INC is 75-0300645.
- Is GRAYSON-COLLIN ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1939.
- Are donations to GRAYSON-COLLIN ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does GRAYSON-COLLIN 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 GRAYSON-COLLIN 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 GRAYSON-COLLIN 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 GRAYSON-COLLIN ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names DAVID MCGINNIS.
- Who are the officers and directors of GRAYSON-COLLIN ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 20 people; 20 received compensation from the organization, the highest $599,572 (DAVID MCGINNIS, CEO/GM).
- How much revenue does GRAYSON-COLLIN ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $261,559,164, expenses of $258,249,552 and total assets of $738,913,822 at year end.
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