Overview
What is Golden Spread Electric Cooperative Inc?
Golden Spread Electric Cooperative Inc, headquartered in Amarillo, Texas, is a consumer-owned wholesale electric power supplier cooperative with a mission to deliver affordable, competitive, and reliable power for a secure energy future. With a team of 103 employees, the cooperative provides wholesale electric energy under long-term power purchase agreements to its 16 electric distribution cooperative members. They allocate patronage capital on a cooperative basis to ensure cost-effective power solutions. The organization's primary activity revolves around supplying electricity in a cooperative manner, creating opportunities, fostering cooperation, and managing industry risks.
Official website here: www.gsec.coop
Is Golden Spread Electric Cooperative Inc legitimate?
Golden Spread Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Golden Spread 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: $4,928,923
Professional Fundraising Fees: $0
Other Salaries and Wages: $12,663,961
For more financial information, click here
Official website here: www.gsec.coop
What is the mission statement of Golden Spread Electric Cooperative Inc?
Golden Spread Electric Cooperative Inc is dedicated to delivering cost-effective, competitive, and reliable electric power to ensure a secure energy future. They create opportunities, foster cooperation, and navigate industry risks to provide wholesale electric energy under long-term power purchase agreements with their 16 electric distribution cooperative members. The organization operates on a cooperative basis and allocates patronage capital for the benefit of its members.
Official website here: www.gsec.coop
Who is the CEO of Golden Spread Electric Cooperative Inc?
Kari Hollandsworth is the President & Ceo of Golden Spread Electric Cooperative Inc. The CEO's salary of Golden Spread Electric Cooperative Inc is $840,114 and their total compensation is $1,397,433.
Official website here: www.gsec.coop
What is the revenue of Golden Spread Electric Cooperative Inc?
Golden Spread Electric Cooperative Inc's revenue in 2022 was $772,338,275.
Official website here: www.gsec.coop
Who are the executives of Golden Spread Electric Cooperative Inc and what are their salaries?
The average compensation at Golden Spread Electric Cooperative Inc during 2022 was $170,805. There are 103 employees at Golden Spread Electric Cooperative Inc.
Here are 44 key members and their salaries (Golden Spread Electric Cooperative Inc's CEO's salary is $840,114 and their total compensation is $1,397,433):
- Compensation: $45,824
- Related: $0
- Other: $0
- Compensation: $39,193
- Related: $0
- Other: $0
- Compensation: $31,327
- Related: $0
- Other: $0
- Compensation: $33,486
- Related: $0
- Other: $0
- Compensation: $32,794
- Related: $0
- Other: $0
- Compensation: $44,251
- Related: $0
- Other: $0
- Compensation: $31,825
- Related: $0
- Other: $0
- Compensation: $57,283
- Related: $0
- Other: $0
- Compensation: $38,954
- Related: $0
- Other: $10,250
- Compensation: $38,718
- Related: $0
- Other: $0
- Compensation: $53,093
- Related: $0
- Other: $0
- Compensation: $26,751
- Related: $0
- Other: $0
- Compensation: $36,140
- Related: $0
- Other: $7,800
- Compensation: $30,675
- Related: $0
- Other: $0
- Compensation: $10,570
- Related: $0
- Other: $0
- Compensation: $32,354
- Related: $0
- Other: $0
- Compensation: $38,968
- Related: $0
- Other: $0
- Compensation: $44,114
- Related: $0
- Other: $0
- Compensation: $26,475
- Related: $0
- Other: $0
- Compensation: $41,905
- Related: $0
- Other: $0
- Compensation: $40,572
- Related: $0
- Other: $0
- Compensation: $21,442
- Related: $0
- Other: $0
- Compensation: $33,434
- Related: $0
- Other: $0
- Compensation: $31,972
- Related: $0
- Other: $0
- Compensation: $40,446
- Related: $0
- Other: $0
- Compensation: $39,774
- Related: $0
- Other: $0
- Compensation: $44,504
- Related: $0
- Other: $9,900
- Compensation: $39,132
- Related: $0
- Other: $0
- Compensation: $35,465
- Related: $0
- Other: $0
- Compensation: $34,289
- Related: $0
- Other: $0
- Compensation: $32,348
- Related: $0
- Other: $0
- Compensation: $32,798
- Related: $0
- Other: $0
- Compensation: $36,094
- Related: $0
- Other: $0
- Compensation: $840,114
- Related: $0
- Other: $557,319
- Compensation: $370,639
- Related: $0
- Other: $139,449
- Compensation: $359,984
- Related: $0
- Other: $141,906
- Compensation: $195,541
- Related: $0
- Other: $104,045
- Compensation: $363,648
- Related: $0
- Other: $132,118
- Compensation: $333,261
- Related: $0
- Other: $165,980
- Compensation: $370,609
- Related: $0
- Other: $177,046
- Compensation: $330,095
- Related: $0
- Other: $146,815
- Compensation: $284,844
- Related: $0
- Other: $111,202
- Compensation: $245,860
- Related: $0
- Other: $151,434
- Compensation: $237,468
- Related: $0
- Other: $91,147
Official website here: www.gsec.coop
Where can I find the form 990 for Golden Spread Electric Cooperative Inc?
Golden Spread Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gsec.coop
Learn more at the official website: www.gsec.coop
Mission Statement of Golden Spread Electric Cooperative Inc
Golden Spread Electric Cooperative Inc, a consumer-owned wholesale electric power supplier cooperative, is dedicated to delivering cost-effective, competitive, and reliable power to ensure a secure energy future for generations to come. The organization achieves this mission by creating opportunities, fostering cooperation, and navigating industry risks.
Golden Spread Electric Cooperative Inc provides wholesale electric energy under long-term power purchase agreements to its 16 electric distribution cooperative members. The cooperative basis of the power supply is maintained through the allocation of patronage capital. The cooperative's mission is centered around ensuring a stable and sustainable energy future, providing an essential service to its members and the communities they serve.
By focusing on cost-effective solutions, Golden Spread Electric Cooperative Inc aims to keep electricity affordable and accessible for its members. Through a competitive approach, the cooperative strives to maintain a strong position in the electric power market and provide reliable power that meets the evolving needs of its members. The cooperative's commitment to reliability is demonstrated through its robust infrastructure and continuous investment in technology and innovation.
Moreover, Golden Spread Electric Cooperative Inc fosters cooperation among its members and within the electric cooperative community. By working together, the cooperative is able to pool resources and expertise, creating opportunities for mutual growth and success. The cooperative's risk management strategy is another key aspect of its mission, allowing it to navigate the complex and ever-changing electric power industry while maintaining financial stability and delivering on its promises to its members.
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Impact
October, 2024
Golden Spread Electric Cooperative Inc plays a crucial role in the energy landscape of its service area, primarily as a consumer-owned wholesale electric power supplier. By delivering wholesale electric energy through long-term power purchase agreements with its 16 member electric distribution cooperatives, it ensures that its members have access to reliable and competitively priced power.
The organization's commitment to providing cost-effective energy contributes significantly to the economic stability and growth of the communities it serves. By operating on a cooperative basis and allocating patronage capital among its members, Golden Spread fosters a sense of ownership and shared purpose among its stakeholders. This not only strengthens local economies but also empowers members with decision-making capabilities regarding their energy needs.
Golden Spread's mission highlights its focus on creating a secure energy future for generations to come. By cultivating cooperation and navigating industry risks, the cooperative positions itself to adapt to the changing energy landscape, ensuring sustainability and reliability in power supply. Overall, Golden Spread Electric Cooperative Inc enhances energy accessibility while promoting community involvement and economic development in the Texas region.
This information is meant to be a general summary of Golden Spread 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: $4,970,033
- Program Service Revenue: $767,542,523
- Gross Receipts: $773,354,123
Assets and Liabilities:
- Total Assets: $1,273,810,870
- Total Liabilities: $807,325,093
- Net Assets: $466,485,777
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WHOLESALE POWER
Revenue
$750,690,867
TRANSMISSION ACCESS & OTHER REV.
Revenue
$15,651,311
PATRONAGE DIVIDENDS
Revenue
$1,183,282
OTHER PROGRAM REVENUE
Revenue
$17,063
Organization Details
Founding Year
1984
Phone
(806) 379-7766Principal Officer
Kari Hollandsworth
Main Address
905 S FILLMORE ST SUITE 300, AMARILLO, TX, 79101
Website
www.gsec.coopNTEE Category
Code: W80 - Public benefit
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