NonprofitsConcho Valley Electric Cooperative Inc

Concho Valley Electric Cooperative Inc

SAN ANGELO, TX

Total revenue

$51.6M

Total expenses

$51.6M

Net assets

$65.7M

Grants received

$150K

1 grants

EIN

750204684

Tax year

2024

Mission

To provide electric energy to rural areas at cost on a cooperative basis.

Programs

1 program

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.

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue$51.4M
Investment income$94K
Other revenue$128K
Total revenue$51.6M

Expenses

Grants paid$28K
Salaries & benefits$6.4M
Fundraising
Other expenses$39.5M
Total expenses$51.6M
Total assets$162.2M
Net assets$65.7M

People

14 listed

NameRoleCompensation

KELLY LANKFORD

EXECUTIVE VP/CEO

Board

$374K

50.7 hrs/wk

DAVID KEMPEN

DIRECTOR

Board

$4K

6.1 hrs/wk

JEFF COPELAND

PRESIDENT

Board

$4K

27 hrs/wk

DARYL SCHNIERS

DIRECTOR

Board

$3K

4.5 hrs/wk

RALPH WILLBERG

DIRECTOR

Board

$2K

4.2 hrs/wk

WILLIAM WIGGINS

DIRECTOR

Board

$2K

3.8 hrs/wk

LARRY W KLATTENHOFF

VICE-PRESIDENT

Board

$2K

5.6 hrs/wk

THOMAS CARTER

SECRETARY/TREASURER

Board

$2K

12.6 hrs/wk

DUSTIN BROWN

DIR OF ENGINEERING & OPERATIONS

Staff

$166K

42.5 hrs/wk

TERRY WARD

ENGINEERING FOREMAN

Staff

$149K

47.3 hrs/wk

JONATHAN CUTRER

DIR OF INFORMATION TECHNOLOGY

Staff

$148K

40.1 hrs/wk

DAVID WATSON

DIR OF FINANCE & OFFICE SERVICES

Staff

$147K

41.4 hrs/wk

BUSTER MATHENY

LINE SUPERINTENDENT

Staff

$131K

42.6 hrs/wk

DOUGLAS CLARK

ENGINEERING SYSTEMS ADMINISTRATOR

Staff

$123K

43.6 hrs/wk

Independent contractors

TECHLINE CONSTRUCTION LLC

LINE CONSTRUCTION

$2.9M

RE CON COMPANY

ELECTRIC SUBSTATION CONSTRUCTION

$1.7M

POWER ENGINEERS INC

CONSULTING/ENGINEERING

$1.1M

RETURN MOUNTAIN LLC

ENERGY CONSULTING

$726K

CHAIN ELECTRIC COMPANY

LINE CONSTRUCTION

$527K

Grants received

Showing 1 of 1

FromAmountPurposeYear
$150K
INTEGRITY FUND-THREATENS EXISTENCE UNDER THE COOPERATIVE BUSINESS MODEL
2022

Funded by

$150K from 1 funder · 1 grant · 2022

National Rural Utilities Cooperative

$150K · 1 grant · 2022

Details

EIN750204684
Subsection12
Ruling date1942-06
Formed1940
Employees85
Volunteers0
CONCHO VALLEY ELECTRIC COOPERATIVE INC — Mission, Financials & Grants Received | Grantivo