Bandera Electric Cooperative Inc
501(c)(12)
Only null% goes to programs Strong reserves Growing revenue
Bandera Electric Cooperative Inc is a 501(c)(12) organization based in Bandera, Texas, registered in 1940, with $114,366,638 in FY2024 revenue. CharityIndex grades it A.
Po Box 667, Bandera, TX, 78003 EIN 74-0498072 Since 1940
Revenue (FY2024)
$114.4M
▲ 3.6% vs prior year
Expenses (FY2024)
$114.3M
Net assets
$115.7M
Employees
168
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Bandera Electric Cooperative Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating12 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Bandera Electric Cooperative Inc: 12 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Bandera Electric Cooperative Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Bandera Electric Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To provide electric, broadband internet and other related goods and services to our members.
What they do
Fiber division:providing fiber optic broadband internet services to members on a patronage basis through the allocation of patronage capital. there were 13,617 broadband subscribers at year end.
Energy services division:providing solar energy and energy management solutions to members on a patronage basis through the allocation of patronage capital when cumulative net margins from these services exceeds cumulative losses. there were 870 subscribers at year end.
Contact & location
Financial trends
Revenue grew from $62.8M (FY2013) to $114.4M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $242.0MNet assets $115.7M
Operating margin
0.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$357.7M
Total liabilities
$242.0M
Net assets
$115.7M
Salaries & benefits
$14.7M
13% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $114,366,638▲3.6% | $114,274,372▲3.8% | $115,749,581▲9.6% | $357,726,185▲6.3% | 990 |
| 2023 | $110,428,725▲8.9% | $110,134,246▲6.5% | $105,575,087▲6.9% | $336,575,781▲7.2% | 990 |
| 2022 | $101,364,554▲13.7% | $103,436,072▲15.3% | $98,803,874▲1.5% | $313,922,320▲8.0% | 990 |
| 2021 | $89,188,257▲9.9% | $89,743,428▲10.3% | $97,334,911▲4.7% | $290,540,608▲7.3% | 990 |
| 2020 | $81,183,694▲0.8% | $81,387,836▲1.3% | $92,992,240▲8.9% | $270,892,866▲10.4% | 990 |
| 2019 | $80,569,947▲7.8% | $80,356,378▲7.4% | $85,373,740▲14.0% | $245,266,579▲19.5% | 990 |
| 2018 | $74,737,443▲9.6% | $74,854,330▲9.0% | $74,919,296▲9.6% | $205,162,185▲19.4% | 990 |
| 2017 | $68,165,392▲13.5% | $68,674,357▲14.4% | $68,351,087▲7.9% | $171,792,444▲6.9% | 990 |
| 2016 | $60,033,432▼6.8% | $60,017,539▼6.8% | $63,369,294▲13.3% | $160,704,961▲0.3% | 990 |
| 2015 | $64,392,917▼14.0% | $64,362,130▼14.0% | $55,909,170▲5.8% | $160,237,489▼4.6% | 990 |
| 2014 | $74,869,906▲19.2% | $74,869,906▲19.2% | $52,861,410▲6.0% | $168,007,330▲1.1% | 990 |
| 2013 | $62,818,004 | $62,818,004▲4.5% | $49,867,944▼0.4% | $166,169,241▲2.3% | 990 |
| 2012 | — | $60,104,648▼3.0% | $50,056,767▼1.9% | $162,402,670▲1.6% | 990 |
| 2011 | — | $61,950,847▲9.3% | $51,044,582▲5.5% | $159,830,012▲3.9% | 990 |
| 2010 | — | $56,688,487 | $48,386,809 | $153,831,619 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: William Hetherington — $817,452 (0.72% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| William Hetherington | Chief Executive Officer/gm | 50 | $817,452 |
| John Padalino | General Counsel/chief Admin Officer | 60 | $366,292 |
| Shane Schmidt | Chief Operations Officer | 52 | $343,468 |
| Stephanie Pankratz | Chief Financial Officer | 45 | $224,698 |
| John Rush | Director of Electric Operations | 50 | $218,967 |
| Thilo Janssen | Director of Engineering | 52 | $193,999 |
| Allen Marshall | Director of Broadband Operations | 50 | $179,185 |
| John Hernandez | Line Foreman | 51 | $163,762 |
| Michael Shults | Network Operations Manager | 46 | $163,624 |
| Johnny Olibas | Director of Information Technology | 40 | $161,125 |
| Mark Busby | T&d Operations Manager | 50 | $154,676 |
| William Downum | Line Foreman | 48 | $153,184 |
| Garrett Clark | Line Foreman | 49 | $151,554 |
| Billy Simpson | Manager of Products & Serv | 50 | $148,862 |
| Joseph Sauce | Information Technology Manager | 45 | $143,810 |
| Chris Blakemore | Director | 6.9 | $35,500 |
| Annegreth Niemann | Director | 12.5 | $34,725 |
| Jeremy Diller | Vice Chairman | 6.8 | $34,000 |
| Michael Edwards | Chairman | 4.8 | $31,700 |
| Kurt Solis | Secretary/treasurer | 5.5 | $31,100 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Burns & Mcdonnell Engineering Co Inc | Engineering Services | $8,094,377 |
| Das Underground Utilities LLC | Underground Construction | $3,168,961 |
| Pannell Contracting LLC | Right of Way Clearing | $1,849,377 |
| James Power Line | Power Line Construction | $1,531,448 |
| Hauer Brothers Ac & Heating LLC | Air Conditioner/heating | $1,292,737 |
Grants made · $25K in FY2022
1 grant totaling $25K in FY2022. All grants made by Bandera Electric Cooperative Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Das Greenhaus Inc | Founding partner contribution | $25,000 |
Frequently asked questions
- Is Bandera Electric Cooperative Inc a legitimate nonprofit?
- Yes. Bandera Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 74-0498072, based in Bandera, Texas.
- What is Bandera Electric Cooperative Inc's EIN?
- Bandera Electric Cooperative Inc's Employer Identification Number (EIN) is 74-0498072.
- How much revenue does Bandera Electric Cooperative Inc report?
- Bandera Electric Cooperative Inc reported $114,366,638 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Bandera Electric Cooperative Inc have?
- CharityIndex grades Bandera Electric Cooperative Inc A, based on financial health (reserves and operating margin).
- How much does Bandera Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Bandera Electric Cooperative Inc's latest Form 990 is $817,452, paid to William Hetherington (Chief Executive Officer/gm).
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Data for Bandera Electric Cooperative Inc (EIN 74-0498072) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.