Overview
What is South Plains Electric Cooperative Inc?
South Plains Electric Cooperative Inc is a cooperative that supplies electric energy to its 66,578 active members at cost. Based on the given information, their primary objective is to function as the preferred electric utility provider within their service area by delivering value-based services to their membership. The cooperative achieves this by allocating patronage capital, which allows them to sell electricity to their members. Through this cooperative approach, they aim to maintain a strong connection with their members and meet their energy needs effectively.
Official website here: www.spec.coop
Is South Plains Electric Cooperative Inc legitimate?
South Plains Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. South Plains 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 not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $1,645,163
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,063,951
For more financial information, click here
What is the mission statement of South Plains Electric Cooperative Inc?
South Plains Electric Cooperative is dedicated to delivering electric energy to its members at a cost-effective price, functioning under a cooperative business model. Its mission is to be the preferred electric utility provider by catering to the desired services of its membership. The cooperative allocates patronage capital to sell electricity to approximately 66,000 active services at the end of the year. By focusing on providing value-based services to its members, South Plains Electric Cooperative strives to maintain a strong and reliable energy supply within its community.
Official website here: www.spec.coop
Who is the CEO of South Plains Electric Cooperative Inc?
Dale Ancell is the Director of South Plains Electric Cooperative Inc.
Official website here: www.spec.coop
What is the revenue of South Plains Electric Cooperative Inc?
South Plains Electric Cooperative Inc's revenue in 2022 was $208,235,314.
Official website here: www.spec.coop
Who are the executives of South Plains Electric Cooperative Inc and what are their salaries?
The average compensation at South Plains Electric Cooperative Inc during 2022 was $50,996. There are 210 employees at South Plains Electric Cooperative Inc.
Here are 20 key members and their salaries:
- John Randal Bailey (Assistant General Manager)
- Larry Dale Ancell (Executive Vp/General Manager)
- Shane Adams (Chief Financial Officer)
- Tahnee Truitt (Director Of Human Resources)
- Lynn Simmons (Director Of Communications)
- Steven Latham (Manager Of Information Technology)
- Jon Henson (Lubbock Division Manager)
- Randy Mcgee (Manager Of Member Services)
- Glen Jones (Director)
- Lloyd Arthur (Director)
- Brent Whitaker (Director)
- Danny Stanton (Vice President) [Trustee/Director]
- Rd Mccallister (Director)
- Bobby Richey (President) [Trustee/Director]
- David Gossett (Director)
- Larry Browning (Director)
- Scott Martin (Secretary/Treasurer) [Trustee/Director]
- Rynn Truett (Assistant Secretary/Treasurer) [Trustee/Director]
- Benny Nixon (Director)
- Joe Mcferrin (Director)
Official website here: www.spec.coop
Where can I find the form 990 for South Plains Electric Cooperative Inc?
The South Plains Electric Cooperative Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.spec.coop
Learn more at the official website: www.spec.coop
Mission Statement of South Plains Electric Cooperative Inc
South Plains Electric Cooperative, a leading electric utility provider, is dedicated to delivering cost-effective electric energy to its members on a cooperative basis. This mission-driven cooperative prioritizes being the preferred choice for its membership by offering value-added services that cater to the needs and expectations of its customers.
Through the cooperative business model, South Plains Electric Cooperative allocates patronage capital and sells electric energy to its 66,578 active services. By focusing on affordability and value, the cooperative strives to provide reliable and essential electric energy to its members, fostering strong community connections and ensuring the long-term success and satisfaction of its customer base.
Impact
This information is meant to be a general summary of South Plains Electric Cooperative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
South Plains Electric Cooperative Inc provides electric energy to its members at cost on a cooperative basis, aiming to be the preferred electric utility provider in its service area. By offering value-based services desired by its membership, the cooperative serves 66,578 active services as of year-end. This directly impacts the community by ensuring reliable and affordable electricity for residents and businesses in the area, contributing to the overall economic well-being and quality of life of those it serves in Lubbock, TX.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF ELECTRICITY
Revenue
$204,304,036
PATRONAGE DIVIDENDS
Revenue
$4,881,748
Organization Details
Founding Year
1943
Phone
(806) 775-7732
Principal Officer
Dale Ancell
Main Address
PO BOX 1830, LUBBOCK, TX, 79408
Website
www.spec.coop
NTEE Category
Code: W80 - Public benefit
If you are a representative of South Plains Electric Cooperative Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.