Overview
What is Lamb County Electric Cooperative Inc?
Lamb County Electric Cooperative Inc is a nonprofit organization dedicated to bringing affordable electric energy to rural areas on a cooperative basis. With a strong commitment to its community, the cooperative sells electric power to its members through the allocation of patronage capital. At the end of the year, they catered to 11,627 active services. Their mission remains focused on providing essential electric energy to rural residents in a cost-effective and cooperative manner.
Official website here: www.lcec.coop
What are the reviews and ratings of this charity?
Lamb County Electric Cooperative Inc is not currently rated by Charity Navigator. The lack of a rating does not suggest a positive or negative standing; it simply indicates the organization has not been evaluated due to its non-501(c)(3) status. Charity Navigator ratings primarily require an Accountability & Finance beacon or an Impact & Measurement beacon, which this entity lacks.
The organization does not fall under the typical 501(c)(3) criteria, meaning it's not eligible for some standard evaluations like Leadership & Adaptability or Culture & Community. Additionally, there is no available data on total revenue and expenses or salaries of key persons, rendering a financial evaluation incomplete.
No user reviews are available from GreatNonprofits for Lamb County Electric Cooperative Inc. Generally, this absence of feedback could result in a lack of public sentiment towards the organization, leaving potential stakeholders and donors without detailed insights. Without qualitative input or financial specifics, it's difficult to discern the true strengths or areas in need of improvement for this cooperative.
This AI summary has been generated from information found on Charity Navigator.
Is Lamb County Electric Cooperative Inc legitimate?
Lamb County Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lamb County 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: $360,416
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,636,606
For more financial information, click here
Official website here: www.lcec.coop
What is the mission statement of Lamb County Electric Cooperative Inc?
Lamb County Electric Cooperative is committed to delivering electric energy to rural communities on a cooperative basis, ensuring affordability for its members. The cooperative sells electricity through the distribution of patronage capital, serving a total of 11,627 active services at the end of the year. Its primary focus is on providing essential electric power to rural areas. By operating on a cooperative basis, the cooperative empowers its members to collectively own and control their energy source. This community-driven approach allows for a sustainable and cost-effective energy solution for rural residents.
Official website here: www.lcec.coop
Who is the CEO of Lamb County Electric Cooperative Inc?
Richard Moore is the President of Lamb County Electric Cooperative Inc. The CEO's salary of Lamb County Electric Cooperative Inc is $142,862 and their total compensation is $173,911.
Official website here: www.lcec.coop
What is the revenue of Lamb County Electric Cooperative Inc?
Lamb County Electric Cooperative Inc's revenue in 2022 was $41,506,938.
Official website here: www.lcec.coop
Who are the executives of Lamb County Electric Cooperative Inc and what are their salaries?
The average compensation at Lamb County Electric Cooperative Inc during 2022 was $66,600. There are 45 employees at Lamb County Electric Cooperative Inc.
Here are 13 key members and their salaries (Lamb County Electric Cooperative Inc's CEO's salary is $142,862 and their total compensation is $173,911):
- Compensation: $26,390
- Related: $0
- Other: $0
- Compensation: $26,640
- Related: $0
- Other: $0
- Compensation: $26,915
- Related: $0
- Other: $0
- Compensation: $26,957
- Related: $0
- Other: $0
- Compensation: $26,873
- Related: $0
- Other: $0
- Compensation: $26,390
- Related: $0
- Other: $0
- Compensation: $26,340
- Related: $0
- Other: $0
- Compensation: $142,862
- Related: $0
- Other: $31,049
- Compensation: $137,219
- Related: $0
- Other: $22,770
- Compensation: $135,778
- Related: $0
- Other: $21,495
- Compensation: $131,918
- Related: $0
- Other: $23,010
- Compensation: $127,950
- Related: $0
- Other: $22,805
- Compensation: $122,104
- Related: $0
- Other: $20,765
Official website here: www.lcec.coop
Where can I find the form 990 for Lamb County Electric Cooperative Inc?
Lamb County Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lcec.coop
Learn more at the official website: www.lcec.coop
Mission Statement of Lamb County Electric Cooperative Inc
Lamb County Electric Cooperative, a Cooperative-based energy provider, dedicates itself to supplying electric energy to rural communities at affordable costs. The organization sells electricity to its members, fostering a sense of cooperation and shared responsibility, with 11,627 active services recorded at the end of the year.
By offering electric power on a cooperative basis, Lamb County Electric Cooperative ensures that rural areas have access to essential energy resources. This commitment to affordability enables individuals and families in these communities to meet their basic energy needs. The cooperative structure allows members to have a stake in the company's financial success, with the allocation of patronage capital contributing to the provision of electric power.
Lamb County Electric Cooperative not only provides electric energy to its members but also plays a crucial role in strengthening the communities it serves. Through its cooperative business model, the organization fosters a sense of unity and shared responsibility, bringing people together in the pursuit of reliable and affordable energy. As a result, rural areas benefit from a reliable energy source that empowers them to thrive.
In summary, Lamb County Electric Cooperative, a leading Cooperative energy provider, is dedicated to bringing electric energy to rural communities at affordable costs. By selling electricity on a cooperative basis and allocating patronage capital, the organization fosters a spirit of unity and shared responsibility, ensuring that rural areas have access to essential energy resources.
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Impact
October, 2024
Lamb County Electric Cooperative Inc significantly impacts rural communities by providing essential electric energy services at cost. By focusing on cooperative principles, it ensures that its members—11,627 active services at year-end—have access to affordable electricity, which is vital for daily living and supports local economies. The cooperative model fosters a sense of community ownership and accountability, allowing members to benefit from their contributions through the allocation of patronage capital. This approach not only enhances the quality of life for residents but also supports sustainable energy practices within the region. Overall, the cooperative plays a crucial role in promoting public benefit in rural Texas, ensuring that electricity remains accessible and affordable for all members of the community.
This information is meant to be a general summary of Lamb County 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: $61,831
- Program Service Revenue: $41,426,677
- Gross Receipts: $41,515,715
Assets and Liabilities:
- Total Assets: $86,688,457
- Total Liabilities: $34,617,912
- Net Assets: $52,070,545
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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
$40,433,129
PATRONAGE CAPITAL
Revenue
$992,053
OTHER PROGRAM REVENUE
Revenue
$1,495
Organization Details
Founding Year
1938
Phone
(806) 385-5191Principal Officer
Richard Moore
Main Address
2415 PHELPS AVE, LITTLEFIELD, TX, 79339
Website
www.lcec.coopNTEE Category
Code: W50 - Public benefit
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