Overview
What is Lighthouse Electric Cooperative Inc?
Lighthouse Electric Cooperative Inc is a nonprofit organization located in Floydada, Texas. They provide electric power to rural communities on a cooperative basis, as stated in their mission to empower members with the safest, most reliable, and affordable energy solutions. The cooperative reported 9,462 active services at the end of the year and employed 48 individuals. The organization allocates patronage capital for the sale of electric power and aims to deliver electricity at cost, ensuring access to energy for rural areas.
Official website here: www.lighthouse.coop
What are the reviews and ratings of this charity?
Lighthouse Electric Cooperative Inc is not currently rated by Charity Navigator. The absence of a rating is neither positive nor negative, as Charity Navigator only evaluates 501(c)(3) organizations. Lighthouse Electric Cooperative is not a 501(c)(3), so traditional evaluation methods for accountability and finance, nor impact assessment, are inapplicable.
The organization is identified as an independent entity and shows some administrative data in the IRS Business Master File. Despite being unrateable by Charity Navigator, lack of data on total revenue, expenses, or key person salaries also contributes to its unrated status. Lighthouse Electric’s structure as a cooperative may account for its ineligibility for traditional nonprofit evaluation.
There are no user reviews available for Lighthouse Electric Cooperative Inc on GreatNonprofits. Consequently, there is no user-generated feedback to provide additional insight into the organization's community impact or client experience.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Lighthouse Electric Cooperative Inc?
100% of the four reviews on Facebook express positive sentiments about Lighthouse Electric Cooperative Inc. Here’s a brief summary of the feedback:
Customers feel fortunate to have the cooperative’s dedicated team, highlighting their commitment to going above and beyond. The appreciation for the service quality suggests that the organization successfully fulfills its promise of exceptional customer care. Overall, users seem to be quite pleased with their experience, indicating strong community support for the cooperative.
This AI summary has been generated from reviews found on Facebook.
Is Lighthouse Electric Cooperative Inc legitimate?
Lighthouse Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lighthouse 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: $459,186
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,258,754
For more financial information, click here
Official website here: www.lighthouse.coop
What is the mission statement of Lighthouse Electric Cooperative Inc?
Lighthouse Electric Cooperative Inc is dedicated to supplying electric energy to rural communities on a cooperative basis. By providing the safest, most reliable, and affordable energy solutions, the cooperative empowers its members. The cooperative's mission goes beyond just selling electric power; it ensures safe practices and informed planning are in place. In 2021, the cooperative served 9,462 active services, demonstrating its commitment to its members' energy needs. Through the allocation of patronage capital, members become part-owners of the cooperative, contributing to its collective success. The cooperative's primary goal is to create a sustainable and dependable energy infrastructure, enabling its members to thrive in their communities.
Official website here: www.lighthouse.coop
Who is the CEO of Lighthouse Electric Cooperative Inc?
Albert Daniel is the President of Lighthouse Electric Cooperative Inc.
Official website here: www.lighthouse.coop
What is the revenue of Lighthouse Electric Cooperative Inc?
Lighthouse Electric Cooperative Inc's revenue in 2022 was $36,666,400.
Official website here: www.lighthouse.coop
Who are the executives of Lighthouse Electric Cooperative Inc and what are their salaries?
The average compensation at Lighthouse Electric Cooperative Inc during 2022 was $56,624. There are 48 employees at Lighthouse Electric Cooperative Inc.
Here are 15 key members and their salaries:
- Compensation: $21,730
- Related: $0
- Other: $0
- Compensation: $21,170
- Related: $0
- Other: $0
- Compensation: $21,380
- Related: $0
- Other: $0
- Compensation: $21,170
- Related: $0
- Other: $0
- Compensation: $21,660
- Related: $0
- Other: $0
- Compensation: $21,240
- Related: $0
- Other: $0
- Compensation: $21,100
- Related: $0
- Other: $0
- Compensation: $21,450
- Related: $0
- Other: $0
- Compensation: $21,170
- Related: $0
- Other: $0
- Compensation: $164,547
- Related: $0
- Other: $102,569
- Compensation: $121,992
- Related: $0
- Other: $43,974
- Compensation: $113,379
- Related: $0
- Other: $78,067
- Compensation: $105,614
- Related: $0
- Other: $49,020
- Compensation: $107,590
- Related: $0
- Other: $28,567
- Compensation: $105,132
- Related: $0
- Other: $70,965
Official website here: www.lighthouse.coop
Where can I find the form 990 for Lighthouse Electric Cooperative Inc?
Lighthouse Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lighthouse.coop
Learn more at the official website: www.lighthouse.coop
Mission Statement of Lighthouse Electric Cooperative Inc
Lighthouse Electric Cooperative Inc, a cooperative dedicated to empowering its members, strives to provide the safest, most reliable, and affordable electric energy solutions. By selling electricity cooperatively, the organization ensures that its practices are informed by the needs and input of its members. At the end of the year, Lighthouse Electric Cooperative Inc served 9,462 active services.
In fulfilling its mission, Lighthouse Electric Cooperative Inc goes beyond just providing electricity. It ensures that the energy solutions it offers are safe and reliable, ensuring that its members can rely on a consistent power supply. The cooperative's commitment to safety and reliability is reflected in its approach to operations, which prioritizes careful planning and adherence to best practices.
Moreover, Lighthouse Electric Cooperative Inc's commitment to affordability sets it apart. By selling electricity on a cooperative basis, the organization is able to allocate patronage capital to its members, allowing them to share in the cooperative's profits and reducing the overall cost of electricity. This approach not only benefits the members financially but also fosters a sense of community and shared ownership. By providing electric energy in a cooperative manner, Lighthouse Electric Cooperative Inc empowers its members, ensuring that they have access to the essential resource they need to thrive.
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Impact
October, 2024
Lighthouse Electric Cooperative Inc plays a crucial role in delivering electric energy to rural areas, ensuring that communities have access to reliable and affordable power. With 9,462 active services, it meets the needs of its members by prioritizing safety, reliability, and cost-effective solutions. The cooperative model allows it to operate on a non-profit basis, facilitating the sale of electric power while allocating patronage capital back to its members. This structure not only enhances economic empowerment within the community but also encourages informed planning and safe practices in energy consumption. By focusing on rural electrification, Lighthouse Electric Cooperative Inc significantly contributes to the quality of life and economic development in Floydada, Texas, and surrounding areas.
This information is meant to be a general summary of Lighthouse 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: $78,395
- Program Service Revenue: $36,561,124
- Gross Receipts: $36,804,813
Assets and Liabilities:
- Total Assets: $102,333,599
- Total Liabilities: $47,303,936
- Net Assets: $55,029,663
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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
$34,985,884
PATRONAGE DIVIDENDS
Revenue
$845,382
SERVICE FEES
Revenue
$729,858
Organization Details
Founding Year
1939
Phone
(806) 983-2814Principal Officer
Albert Daniel
Main Address
PO BOX 600, FLOYDADA, TX, 79235
Website
www.lighthouse.coopNTEE Category
Code: W50 - Public benefit
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