Overview
What is Hilco Electric Cooperative Inc?
Hilco Electric Cooperative Inc is a nonprofit organization based in Itasca, Texas. With a team of 96 employees, their primary mission is to provide high-quality and reliable electric service to the cooperative's members. They achieve this by distributing patronage capital and offering electric energy at the most affordable cost, ensuring sound economy and effective management. The cooperative, which had 32,757 active services at the end of the year, is dedicated to serving its community and focuses on delivering electric energy and associated goods and services to its members.
Official website here: www.hilco.coop
Is Hilco Electric Cooperative Inc legitimate?
Hilco Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Hilco Electric Cooperative Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,365,647
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,968,561
For more financial information, click here
Official website here: www.hilco.coop
What is the mission statement of Hilco Electric Cooperative Inc?
Hilco Electric Cooperative Inc is dedicated to delivering quality and reliable electric service to its cooperative members. The cooperative's primary objective is to provide electric energy and various other goods and services to its members at the most affordable cost, ensuring sound economy and efficient management. Through a cooperative business model, the cooperative returns profits to its members in the form of patronage capital. As of the year end, there were 32,757 active services being provided by the cooperative.
Official website here: www.hilco.coop
Who is the CEO of Hilco Electric Cooperative Inc?
Thomas Cheek is the Vice President of Hilco Electric Cooperative Inc. The CEO's salary of Hilco Electric Cooperative Inc is $193,973 and their total compensation is $362,706.
Official website here: www.hilco.coop
What is the revenue of Hilco Electric Cooperative Inc?
Hilco Electric Cooperative Inc's revenue in 2022 was $102,294,188.
Official website here: www.hilco.coop
Who are the executives of Hilco Electric Cooperative Inc and what are their salaries?
The average compensation at Hilco Electric Cooperative Inc during 2022 was $55,565. There are 96 employees at Hilco Electric Cooperative Inc.
Here are 16 key members and their salaries (Hilco Electric Cooperative Inc's CEO's salary is $193,973 and their total compensation is $362,706):
- Compensation: $34,498
- Related: $0
- Other: $0
- Compensation: $20,228
- Related: $0
- Other: $0
- Compensation: $28,275
- Related: $0
- Other: $0
- Compensation: $33,147
- Related: $0
- Other: $0
- Compensation: $33,362
- Related: $0
- Other: $0
- Compensation: $35,542
- Related: $0
- Other: $0
- Compensation: $15,741
- Related: $0
- Other: $0
- Compensation: $193,973
- Related: $0
- Other: $168,733
- Compensation: $196,306
- Related: $0
- Other: $112,786
- Compensation: $180,642
- Related: $0
- Other: $65,198
- Compensation: $190,380
- Related: $0
- Other: $56,836
- Compensation: $136,286
- Related: $0
- Other: $72,098
- Compensation: $146,843
- Related: $0
- Other: $138,073
- Compensation: $132,114
- Related: $0
- Other: $75,658
- Compensation: $118,533
- Related: $0
- Other: $55,938
- Compensation: $121,158
- Related: $0
- Other: $66,382
Official website here: www.hilco.coop
Where can I find the form 990 for Hilco Electric Cooperative Inc?
Hilco Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hilco.coop
Learn more at the official website: www.hilco.coop
Mission Statement of Hilco Electric Cooperative Inc
Hilco Electric Cooperative Inc is a mission-driven organization dedicated to supplying quality and dependable electric service to its cooperative members. Established with the goal of delivering electric energy and other desirable goods and services to its members at the most affordable cost possible, the cooperative operates based on sound economy and efficient management principles.
At the heart of Hilco Electric Cooperative Inc's operations is the provision of electric power on a cooperative basis, with members contributing to the cooperative through patronage capital. By the end of the year, there were 32,757 active services in operation. The cooperative's dedication to its members extends beyond electricity, as evidenced by its commitment to offering essential services at budget-friendly prices.
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Impact
October, 2024
Hilco Electric Cooperative Inc plays a vital role in enhancing the quality of life for its members by delivering reliable electric service. With 32,757 active services, the cooperative ensures that residents and businesses in Itasca, TX, have access to essential electricity, which underpins daily activities and economic growth. By operating on a cooperative model, Hilco Electric allocates patronage capital, allowing members to benefit directly from their contributions.
The cooperative focuses on maintaining affordable rates while adhering to sound economic principles and effective management practices. This commitment enables it to provide not just electricity, but also opportunities for additional goods and services that further support member needs. Hilco Electric's mission reflects a dedication to community support, creating a significant impact through the reliable energy supply that fosters stability and growth within the region.
This information is meant to be a general summary of Hilco Electric Cooperative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $253,740
- Program Service Revenue: $101,832,695
- Gross Receipts: $102,764,956
Assets and Liabilities:
- Total Assets: $206,251,275
- Total Liabilities: $114,311,658
- Net Assets: $91,939,617
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF ELECTRICITY
Revenue
$99,900,818
SERVICE FEES
Revenue
$1,400,933
PATRONAGE DIVIDENDS
Revenue
$530,944
Organization Details
Founding Year
1936
Phone
(254) 687-2331Principal Officer
Thomas Cheek
Main Address
115 E MAIN STREET, ITASCA, TX, 76055
Website
www.hilco.coopNTEE Category
Code: W80 - Public benefit
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