Nonprofit · EIN 75-1941060
GOLDEN SPREAD ELECTRIC COOPERATIVE INC
Tax-exempt · AMARILLO, TX 79101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $545,165,927 | $545,165,927 | $0 | $1,366,174,653 | $885,051,794 | $481,122,859 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $531,186,069
- Investment income
- $14,147,137
- Net rental income
- -$167,279
- Other revenue
- -$167,279
Expenses
- Grants and similar amounts paid
- $149,346
- Benefits paid to members
- $37,933,177
- Compensation of officers, directors and key employees
- $4,600,826
- Other salaries and wages
- $12,768,026
- Salaries, compensation and benefits (total)
- $24,677,726
- Professional fundraising fees
- $0
- Depreciation
- $53,660,586
Balance sheet and other
- Total assets, start of year
- $1,377,698,574
- Total assets, end of year
- $1,366,174,653
- Total liabilities, end of year
- $885,051,794
- Net assets, end of year
- $481,122,859
- Land, buildings and equipment
- $811,925,655
- Gross receipts
- $546,142,520
- Employees
- 104
- Volunteers
- 0
- Year formed
- 1984
- 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 |
|---|---|---|---|---|
| KARI HOLLANDSWORTH | PRESIDENT & CHIEF EXECUTIVE OFFICER Officer | 45 | $906,358 | $452,585 |
| JAMES GUY | GEN COUNSEL & CHIEF LEGAL/COMPLIANCE OFFICER Officer | 50 | $399,068 | $123,071 |
| JOHN EICHELMANN | VP - MEMBER SVCS & POWER DELIVERY Key employee | 45 | $392,340 | $122,233 |
| MATTHEW MOORE | VP - COMMERICAL & ASSETS OPERATIONS Key employee | 40 | $355,242 | $153,447 |
| ROBERT M LOWE | CHIEF FINANCIAL OFFICER & ASST TREASURER Officer | 40 | $391,258 | $117,409 |
| MICHAEL WISE | SENIOR VP - REG/MKT STRATEGY Highest-paid employee | 45 | $352,418 | $147,839 |
| ROBERT MCMINN | DIRECTOR - POWER DELIVERY Highest-paid employee | 40 | $257,878 | $137,256 |
| BRET YEARY | DIRECTOR - POWER SUPPLY Highest-paid employee | 42 | $252,828 | $140,073 |
| DAVID MARSH | SENIOR PRODUCTION ASSET MANAGER Highest-paid employee | 38 | $230,467 | $85,682 |
| CLIFTON USLETON | EXECUTIVE IT DIRECTOR Highest-paid employee | 48 | $228,579 | $83,228 |
| DANNY HELMS | DIRECTOR Trustee or director | 4.5 | $38,402 | $15,000 |
| SHAD MCDANIEL | DIRECTOR Trustee or director | 7.8 | $52,435 | $0 |
| DAVID MCCLAIN | SECRETARY/TREASURER Trustee or director, Officer | 7.6 | $41,705 | $9,000 |
| DALE ANCELL | DIRECTOR Trustee or director | 7.2 | $49,729 | $0 |
| ALBERT DANIEL | DIRECTOR Trustee or director | 4.9 | $49,098 | $0 |
27 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID TIPTON | DIRECTOR Trustee or director | 5 | $36,983 | $10,000 |
| GRACE SUBEALDEA | DIRECTOR Trustee or director | 7.5 | $45,031 | $0 |
| DAVID SELL | DIRECTOR Trustee or director | 7.4 | $43,465 | $0 |
| DAVID MARRICLE | DIRECTOR Trustee or director | 6.2 | $43,012 | $0 |
| ANDREW KEITH HICKS | DIRECTOR Trustee or director | 4 | $42,718 | $0 |
| RANDY WHITE | DIRECTOR Trustee or director | 4.6 | $42,367 | $0 |
| ZAC PERKINS | DIRECTOR Trustee or director | 7.3 | $39,549 | $0 |
| KELLY LANKFORD | CHAIRMAN Trustee or director, Officer | 7.1 | $39,117 | $0 |
| SHAWN MARTINEZ | DIRECTOR Trustee or director | 10.4 | $37,096 | $0 |
| BEN FRANKLIN | DIRECTOR Trustee or director | 4.2 | $36,609 | $0 |
| VICK CHRISTIAN | DIRECTOR Trustee or director | 5.9 | $35,723 | $0 |
| WILLIAM WHITTEN | DIRECTOR Trustee or director | 4.1 | $35,156 | $0 |
| RYAN BARTLETT | DIRECTOR Trustee or director | 6.2 | $34,918 | $0 |
| JEFF COPELAND | DIRECTOR Trustee or director | 4.6 | $34,222 | $0 |
| GREG HENLEY | VICE CHAIRMAN Trustee or director, Officer | 3.8 | $33,960 | $0 |
| TIMOTHY J BURKHALTER | DIRECTOR Trustee or director | 5.9 | $33,378 | $0 |
| CECIL DAVIS | DIRECTOR Trustee or director | 4.1 | $32,645 | $0 |
| MARK HEGI | DIRECTOR Trustee or director | 4.5 | $31,526 | $0 |
| PAT JACKSON | DIRECTOR Trustee or director | 3.9 | $30,679 | $0 |
| BRENT LEE MCMILLIAN | DIRECTOR Trustee or director | 4.7 | $29,786 | $0 |
| RICHARD BLAKE MOORE | DIRECTOR Trustee or director | 4 | $29,556 | $0 |
| BENNY DEAN NIXON | DIRECTOR Trustee or director | 3.8 | $27,099 | $0 |
| KEVIN HUMPHREYS | DIRECTOR Trustee or director | 4.1 | $27,068 | $0 |
| SYNDA SMITH | DIRECTOR Trustee or director | 6.1 | $26,382 | $0 |
| RANDY MAHANNAH | DIRECTOR Trustee or director | 3.7 | $25,205 | $0 |
| MICHAEL SOUDER | DIRECTOR Trustee or director | 3.4 | $24,936 | $0 |
| DWAIN STRANGE | DIRECTOR Trustee or director | 3.9 | $24,260 | $0 |
Address and contacts
- Address (IRS master file)
- 905 S FILLMORE ST STE 300, AMARILLO, TX 79101-3541
- Principal officer (990 for 2024)
- KARI HOLLANDSWORTH, 905 S FILLMORE ST SUITE 300, AMARILLO, TX 79101
- Signed the 990
- ROBERT M LOWE, CFO & ASSISTANT TREASURER
- Phone
- (806) 379-7766
- Website
- WWW.GSEC.COOP
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
TO DELIVER COST EFFECTIVE, COMPETITIVE AND RELIABLE POWER TO PROVIDE A SECURE ENERGY FUTURE FOR GENERATIONS TO COME BY CREATING OPPORTUNITIES, CULTIVATING COOPERATION AND NAVIGATING INDUSTRY RISK.
Program accomplishments
- THE ORGANIZATION PROVIDES WHOLESALE ELECTRIC ENERGY UNDER LONG-TERM POWER PURCHASE AGREEMENTS WITH ITS 16 ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS. WHOLESALE POWER IS PROVIDED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
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 | Check at the IRS |
IRS record
- EIN
- 75-1941060
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1991
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,366,174,653
- Income (IRS master file)
- $546,142,520
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $545,165,927 | $545,165,927 | $1,366,174,653 | XML |
| 990 | December 2022 | $772,338,275 | $760,503,573 | $1,273,810,870 | 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 75-1941060).
Questions about GOLDEN SPREAD ELECTRIC COOPERATIVE INC
- What is the EIN of GOLDEN SPREAD ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of GOLDEN SPREAD ELECTRIC COOPERATIVE INC is 75-1941060.
- Is GOLDEN SPREAD ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1991.
- Are donations to GOLDEN SPREAD ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does GOLDEN SPREAD 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 GOLDEN SPREAD 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 GOLDEN SPREAD 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 GOLDEN SPREAD ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names KARI HOLLANDSWORTH.
- Who are the officers and directors of GOLDEN SPREAD ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 42 people; 42 received compensation from the organization, the highest $906,358 (KARI HOLLANDSWORTH, PRESIDENT & CHIEF EXECUTIVE OFFICER).
- How much revenue does GOLDEN SPREAD ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $545,165,927, expenses of $545,165,927 and total assets of $1,366,174,653 at year end.
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