Golden Spread Electric Cooperative Inc
501(c)(12)
Strong reserves Growing revenue
Golden Spread Electric Cooperative Inc is a 501(c)(12) organization based in Amarillo, Texas, registered in 1991, with $545,165,927 in FY2024 revenue.
905 S Fillmore St Ste 300, Amarillo, TX, 79101 EIN 75-1941060 Since 1991
Revenue (FY2024)
$545.2M
▼ 29.4% vs prior year
Expenses (FY2024)
$545.2M
Net assets
$481.1M
Employees
104
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 Golden Spread 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 rating11 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 Golden Spread Electric Cooperative Inc: 11 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 Golden Spread 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 Golden Spread Electric Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
The organization is a consumer-owned wholesale electric power supplier cooperative.
Contact & location
Financial trends
Revenue grew from $258.0M (FY2013) to $545.2M (FY2024) across 10 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $885.1MNet assets $481.1M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.4B
Total liabilities
$885.1M
Net assets
$481.1M
Salaries & benefits
$24.7M
5% of expenses
Board members
31
31 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $545,165,927▼29.4% | $545,165,927▼28.3% | $481,122,859▲3.1% | $1,366,174,653▲7.3% | 990 |
| 2022 | $772,338,275▲9.8% | $760,503,573▲5.6% | $466,485,777▲0.8% | $1,273,810,870▲1.8% | 990 |
| 2021 | $703,244,105▲57.8% | $720,095,326▲61.0% | $462,705,355▲3.5% | $1,251,228,427▲7.0% | 990 |
| 2020 | $445,564,974▲30.0% | $447,291,036▲49.3% | $447,019,410▼1.4% | $1,169,444,657▲5.8% | 990 |
| 2018 | $342,796,786▲18.0% | $299,662,664▲9.8% | $453,492,565▲7.2% | $1,105,215,137▲0.5% | 990 |
| 2017 | $290,536,846▲12.3% | $272,965,360▲9.7% | $423,058,443▲1.2% | $1,099,366,909▼2.8% | 990 |
| 2016 | $258,795,626▲12.5% | $248,746,193▲23.4% | $417,986,957▲0.4% | $1,131,441,029▼3.2% | 990 |
| 2015 | $229,950,266▼21.4% | $201,626,611▼22.7% | $416,237,524▲5.1% | $1,169,224,046▲8.2% | 990 |
| 2014 | $292,664,414▲13.4% | $260,719,013▲17.6% | $395,913,869▲6.6% | $1,080,302,662▲4.2% | 990 |
| 2013 | $257,984,949 | $221,700,415▲35.6% | $371,468,468▲8.6% | $1,036,948,474▲10.4% | 990 |
| 2012 | — | $163,438,424▲33.1% | $342,183,934▲13.5% | $939,001,919▲0.3% | 990 |
| 2011 | — | $122,795,393▲166% | $301,483,478▲19.9% | $935,879,710▲90.3% | 990 |
| 2010 | — | $46,213,915 | $251,425,632 | $491,897,357 | 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: Kari Hollandsworth — $906,358 (0.17% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kari Hollandsworth | President & Chief Executive Officer | 45 | $906,358 |
| James Guy | Gen Counsel & Chief Legal/compliance Officer | 50 | $399,068 |
| John Eichelmann | Vp - Member Svcs & Power Delivery | 45 | $392,340 |
| Robert M Lowe | Chief Financial Officer & Asst Treasurer | 40 | $391,258 |
| Matthew Moore | Vp - Commerical & Assets Operations | 40 | $355,242 |
| Michael Wise | Senior Vp - Reg/mkt Strategy | 45 | $352,418 |
| Robert Mcminn | Director - Power Delivery | 40 | $257,878 |
| Bret Yeary | Director - Power Supply | 42 | $252,828 |
| David Marsh | Senior Production Asset Manager | 38 | $230,467 |
| Clifton Usleton | Executive It Director | 48 | $228,579 |
| Shad Mcdaniel | Director | 7.8 | $52,435 |
| Dale Ancell | Director | 7.2 | $49,729 |
| Albert Daniel | Director | 4.9 | $49,098 |
| Grace Subealdea | Director | 7.5 | $45,031 |
| David Sell | Director | 7.4 | $43,465 |
| David Marricle | Director | 6.2 | $43,012 |
| Andrew Keith Hicks | Director | 4 | $42,718 |
| Randy White | Director | 4.6 | $42,367 |
| David Mcclain | Secretary/treasurer | 7.6 | $41,705 |
| Zac Perkins | Director | 7.3 | $39,549 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Ge Vernova International LLC | Construction | $18,755,538 |
| Aces Power Marketing LLC | Purchase Power Services | $5,462,456 |
| The Industrial Company | Construction | $3,428,792 |
| Siemens Gamesa Renewable Energy Inc | Maintenance | $2,172,539 |
| Taw Miami Service Center Inc | Maintenance | $1,815,591 |
Grants made · $76K in FY2024
4 grants totaling $76K in FY2024. All grants made by Golden Spread Electric Cooperative Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Massachusetts Institute of Technology | Research scholarships | $40,000 |
| South Texas Electric Cooperative Inc | 2024 donation | $25,000 |
| Opportunity Plan Inc | Scholarships | $6,000 |
| Amarillo Area Foundation Inc | To assist in funding charitable organizations and programs supported by the foundation | $5,350 |
Frequently asked questions
- Is Golden Spread Electric Cooperative Inc a legitimate nonprofit?
- Yes. Golden Spread Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 75-1941060, based in Amarillo, Texas.
- What is Golden Spread Electric Cooperative Inc's EIN?
- Golden Spread Electric Cooperative Inc's Employer Identification Number (EIN) is 75-1941060.
- How much revenue does Golden Spread Electric Cooperative Inc report?
- Golden Spread Electric Cooperative Inc reported $545,165,927 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Golden Spread Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Golden Spread Electric Cooperative Inc's latest Form 990 is $906,358, paid to Kari Hollandsworth (President & Chief Executive Officer).
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Explore more
Data for Golden Spread Electric Cooperative Inc (EIN 75-1941060) 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.