Nonprofit · EIN 75-0481385
PANOLA-HARRISON ELECTRIC
Tax-exempt · MARSHALL, TX 75671
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $38,001,256 | $38,001,256 | $0 | $70,834,513 | $28,927,283 | $41,907,230 |
| December 31, 2023 | 990 | $41,068,710 | $41,068,710 | $0 | $68,891,397 | $26,399,880 | $42,491,517 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $37,417,853
- Investment income
- $180,408
- Royalties
- $3,365
- Net gain from sales of assets
- $15,500
- Other revenue
- $402,995
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- -$238,142
- Compensation of officers, directors and key employees
- $1,356,891
- Other salaries and wages
- $2,465,948
- Salaries, compensation and benefits (total)
- $5,181,804
- Professional fundraising fees
- $0
- Legal fees
- $42,037
- Accounting fees
- $20,525
- Occupancy
- $250,954
- Travel
- $18,499
- Depreciation
- $2,231,576
Balance sheet and other
- Total assets, start of year
- $68,891,397
- Total assets, end of year
- $70,834,513
- Total liabilities, end of year
- $28,927,283
- Net assets, end of year
- $41,907,230
- Land, buildings and equipment
- $45,125,100
- Gross receipts
- $38,001,256
- Employees
- 41
- 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 |
|---|---|---|---|---|
| M AUSTIN HAYNES | GENERAL MANAGER Officer, Key employee, Highest-paid employee | 50 | $184,983 | $77,015 |
| CODIE STEWART | SERVICEMAN/SERVICE LINEMAN Highest-paid employee | 50 | $151,727 | $55,450 |
| JAY KING | SERVICEMAN/SERVICE LINEMAN Highest-paid employee | 50 | $141,200 | $56,713 |
| PAUL DAVIDSON | CREW FOREMAN Highest-paid employee | 50 | $132,879 | $55,991 |
| TONY RATCLIFF | LINEMAN Highest-paid employee | 50 | $128,565 | $52,769 |
| JACOB PITTS | SERVICEMAN/SERVICE LINEMAN Highest-paid employee | 50 | $128,834 | $39,888 |
| ALBERT S TILLER | PRESIDENT / DIRECTOR Trustee or director, Officer | 7 | $35,170 | $0 |
| JAY GOSWICK | VICE PRESIDENT/DIRECTOR Trustee or director, Officer | 3 | $29,762 | $0 |
| PAUL FORTUNE | SECRETARY/TREASURER/DIRECTOR Trustee or director, Officer | 2 | $28,086 | $0 |
| H GENE STOUGH JR | DIRECTOR Trustee or director, Officer | 1 | $27,469 | $0 |
| ROBERT ORTIGO | DIRECTOR Trustee or director, Officer | 0 | $14,963 | $0 |
| DEBBIE BURCH | DIRECTOR Trustee or director, Officer | 2 | $9,000 | $0 |
| JERRY L HOLMES | DIRECTOR Trustee or director, Officer | 0 | $5,807 | $0 |
| ROGER CONNELL | DIRECTOR Trustee or director, Officer | 0 | $620 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| M AUSTIN HAYNES | GENERAL MANAGER Officer, Key employee, Highest-paid employee | 50 | $162,535 | $63,372 |
| JAY KING | SERVICEMAN/SERVICE LINEMAN Highest-paid employee | 50 | $138,438 | $53,742 |
| CODIE STEWART | LINEMAN Highest-paid employee | 50 | $132,982 | $52,463 |
| PAUL DAVIDSON | CREW FOREMAN Highest-paid employee | 50 | $130,272 | $53,003 |
| JASON BURSON | SERVICEMAN/SERVICE LINEMAN Highest-paid employee | 50 | $123,040 | $52,586 |
| TYLER WHITSETT | SERVICEMAN/SERVICE LINEMAN Highest-paid employee | 50 | $122,564 | $46,733 |
| ALBERT S TILLER | PRESIDENT / DIRECTOR Trustee or director, Officer | 7 | $33,672 | $0 |
| PAUL FORTUNE | DIRECTOR Trustee or director, Officer | 2 | $33,506 | $0 |
| ROBERT ORTIGO | DIRECTOR Trustee or director, Officer | 1 | $30,162 | $0 |
| JAY GOSWICK | SECRETARY/TREASURER/DIRECTOR Trustee or director, Officer | 3 | $30,121 | $0 |
| H GENE STOUGH JR | DIRECTOR Trustee or director, Officer | 1 | $26,534 | $0 |
| JERRY L HOLMES | VICE PRES/DIRECTOR Trustee or director, Officer | 4 | $26,309 | $0 |
| DEBBIE BURCH | DIRECTOR Trustee or director, Officer | 2 | $8,760 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1058, MARSHALL, TX 75671-1058
- Principal officer (990 for 2024)
- Michael Haynes, PO Box 1058, Marshall, TX 756711058
- Signed the 990
- Michael A Haynes, General Manager
- Phone
- (903) 935-7936
- Website
- WWW.PHEC.US
Mission
PANOLA-HARRISON ELECTRIC COOPERATIVE IS AN ELECTRIC DISTRIBUTION COOPERATIVE FORMED FOR THE PURPOSE OF PROVIDING ELECTRICITY TO RURAL CUSTOMERS IN PANOLA AND HARRISON COUNTIES IN TEXAS; CADDO AND DESOTO PARISHES IN LOUISIANA.
Program accomplishments
- SUPPLYING ELECTRIC SERVICE TO APPROXIMATELY 20,710 RURAL CUSTOMER METERS
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
- 75-0481385
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1941
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $70,834,513
- Income (IRS master file)
- $38,001,256
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $38,001,256 | $38,001,256 | $70,834,513 | XML |
| 990 | December 2023 | $41,068,710 | $41,068,710 | $68,891,397 | XML |
| 990 | December 2022 | $56,196,762 | $56,196,762 | $72,829,226 | 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 75-0481385).
Questions about PANOLA-HARRISON ELECTRIC
- What is the EIN of PANOLA-HARRISON ELECTRIC?
- The employer identification number (EIN) of PANOLA-HARRISON ELECTRIC is 75-0481385.
- Is PANOLA-HARRISON ELECTRIC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1941.
- Are donations to PANOLA-HARRISON ELECTRIC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does PANOLA-HARRISON ELECTRIC 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 PANOLA-HARRISON ELECTRIC 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 PANOLA-HARRISON ELECTRIC 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 PANOLA-HARRISON ELECTRIC?
- The 990 for the year ended December 31, 2024 names Michael Haynes.
- Who are the officers and directors of PANOLA-HARRISON ELECTRIC?
- The 990 for the year ended December 31, 2024 lists 14 people; 14 received compensation from the organization, the highest $184,983 (M AUSTIN HAYNES, GENERAL MANAGER).
- How much revenue does PANOLA-HARRISON ELECTRIC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $38,001,256, expenses of $38,001,256 and total assets of $70,834,513 at year end.
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