Nonprofit · EIN 88-6793004
BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND
Also known as PAULA FARQUHAR TTEE
Tax-exempt · WACO, TX 76712
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $2,001,442 | $750,419 | $1,251,023 | $154,716,824 | $135,886 | $154,580,938 |
| December 31, 2024 | 990 | $1,290,362 | $688,362 | $602,000 | $145,632,591 | $80,777 | $145,551,814 |
| December 31, 2023 | 990 | $2,373,294 | $723,095 | $1,650,199 | $143,561,037 | $99,500 | $143,461,537 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $2,001,442
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $298,770
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $2,114
- Accounting fees
- $60,337
- Program services (functional)
- $541,195
- Management and general (functional)
- $209,224
Balance sheet and other
- Total assets, start of year
- $145,632,591
- Total assets, end of year
- $154,716,824
- Total liabilities, end of year
- $135,886
- Net assets, end of year
- $154,580,938
- Publicly traded securities
- $154,657,605
- Net assets with donor restrictions
- $154,580,938
- Gross receipts
- $2,001,442
- Employees
- 0
- Volunteers
- 7
- Year formed
- 2022
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RUSSELL YOUNG | PRESIDENT Trustee or director, Officer | 1 | $0 |
| STEPHEN MEERS | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| JIM BATES | SECRETARY Trustee or director, Officer | 1 | $0 |
| GLENDA HILL | TRUSTEE Trustee or director | 1 | $0 |
| RYAN FUHRMANN | TRUSTEE Trustee or director | 1 | $0 |
| JUSTIN STAPLETON | TRUSTEE Trustee or director | 1 | $0 |
| ANNA WALLACE | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAULA FARQUHAR | PRESIDENT Trustee or director, Officer | 1 | $0 |
| RUSSELL YOUNG | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| JILL SADBERRY | SECRETARY Trustee or director, Officer | 1 | $0 |
| JIM BATES | TRUSTEE Trustee or director | 1 | $0 |
| STEPHEN MEERS | TRUSTEE Trustee or director | 1 | $0 |
| JUSTIN STAPLETON | TRUSTEE Trustee or director | 1 | $0 |
| RYAN FUHRMANN | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAULA FARQUHAR | PRESIDENT Trustee or director, Officer | 1 | $0 |
| RUSSELL YOUNG | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| JILL SADBERRY | SECRETARY Trustee or director, Officer | 1 | $0 |
| JIM BATES | TRUSTEE Trustee or director | 1 | $0 |
| STEPHEN MEERS | TRUSTEE Trustee or director | 1 | $0 |
| JUSTIN STAPLETON | TRUSTEE Trustee or director | 1 | $0 |
| JANET VOTH 123-823 | TRUSTEE Trustee or director | 1 | $0 |
| RYAN FUHRMANN 1223-1223 | TRUSTEE Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 7616 BAGBY AVE, WACO, TX 76712-6924
- In care of
- % PAULA FARQUHAR TRUSTEE
- Principal officer (990 for 2025)
- RUSSELL YOUNG, 7616 BAGBY AVENUE, WACO, TX 76712
- Signed the 990
- RUSSELL YOUNG, PRESIDENT
- Phone
- (713) 651-3770
- Website
- WWW.BRAZOSHARDSHIPFUND.COM
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
THE PRINCIPAL PURPOSE OF THE TRUST IS TO MITIGATE THE IMPACT OF THE FEBRUARY 2021 WINTER STORM URI-RELATED SECURITIZATION CHARGES ON LOW INCOME COOPERATIVE RATEPAYERS OF THE PARTICIPATING 15 BRAZOS ELECTRIC MEMBER COOPERATIVES IN THIS TRUST.
Program accomplishments
- THERE ARE AN ESTIMATED 134,000 POTENTIALLY ELIGIBLE HOUSEHOLDS, BASED ON ELIGIBILITY CRITERIA , IN THE PARTICIPATING MEMBER COOPERATIVES (PMC) SERVICE AREA. CUSTOMERS MAY APPLY FOR THE BENEFITS THROUGH SOLIX, A THIRD PARTY SPECIALIZING IN ELIGIBILITY DETERMINATION, AND THOSE CUSTOMERS DEEMED ELIGIBLE WILL RECEIVE CREDITS FROM THE PMCS ON THEIR MONTHLY INVOICES FOR ELECTRIC SERVICE TO COVER SECURITIZATION CHARGES INCLUDED IN THOSE INVOICES. THE CREDITS ARE FUNDED FROM REIMBURSEMENTS THE HARDSHIP FUND PAYS THE PMCS AFTER THE LOW INCOME CUSTOMERS RECEIVE THE CREDIT ON THEIR BILLS. THE FUND WAS SET UP IN DECEMBER OF 2022 AND BEGAN DISBURSING FUNDS TO THE PMCS IN 2023. DURING 2025 APPROXIMATELY 1,213 PEOPLE RECEIVED BENEFITS.Expenses $541,195 · grants $298,770
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 | 990 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
- 88-6793004
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Mutual and membership benefit (Y12)
- Assets (IRS master file)
- $154,716,824
- Income (IRS master file)
- $2,001,442
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $2,001,442 | $750,419 | $154,716,824 | XML |
| 990 | December 2024 | $1,290,362 | $688,362 | $145,632,591 | XML |
| 990 | December 2023 | $2,373,294 | $723,095 | $143,561,037 | XML |
| 990 | December 2022 | $140,224,200 | $61,150 | $140,224,200 | 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 88-6793004).
Questions about BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND
- What is the EIN of BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND?
- The employer identification number (EIN) of BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND is 88-6793004.
- Is BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 2023.
- Are donations to BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND 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 BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND?
- The 990 for the year ended December 31, 2025 names RUSSELL YOUNG.
- Who are the officers and directors of BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND?
- The 990 for the year ended December 31, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $2,001,442, expenses of $750,419 and total assets of $154,716,824 at year end.
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