Grayson-collin Electric Cooperative Inc
501(c)(12)
Only null% goes to programs Strong reserves Growing revenue
Grayson-collin Electric Cooperative Inc is a 501(c)(12) organization based in Van Alstyne, Texas, registered in 1939, with $261,559,164 in FY2024 revenue. CharityIndex grades it B+.
Po Box 548, Van Alstyne, TX, 75495 EIN 75-0300645 Since 1939
Revenue (FY2024)
$261.6M
▲ 30.9% vs prior year
Expenses (FY2024)
$258.2M
Net assets
$197.3M
Employees
157
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
—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 Grayson-collin 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 rating9 mo reserves · +1% 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 Grayson-collin Electric Cooperative Inc: 9 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
BGovernance25% of the rating4 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 Grayson-collin Electric Cooperative Inc: 4 of 6 checks met earns a B on this criterion. See the exact thresholds →
BTransparency10% of the rating3 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 Grayson-collin Electric Cooperative Inc: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
To provide quality and reliable electric service to members of the cooperative.
Contact & location
- Address
- Po Box 548, Van Alstyne, TX, 75495
- City
- Van Alstyne
- State
- Texas
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $104.7M (FY2013) to $261.6M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $541.6MNet assets $197.3M
Operating margin
1.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$738.9M
Total liabilities
$541.6M
Net assets
$197.3M
Salaries & benefits
$14.4M
6% of expenses
Board members
5
4 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $261,559,164▲30.9% | $258,249,552▲31.2% | $197,288,618▲32.5% | $738,913,822▲14.2% | 990 |
| 2023 | $199,747,533▼2.7% | $196,774,554▼3.2% | $148,844,344▲0.5% | $646,811,614▲17.3% | 990 |
| 2022 | $205,305,170▲43.4% | $203,332,128▲42.9% | $148,039,897▲5.0% | $551,504,092▲15.7% | 990 |
| 2021 | $143,205,485▲11.0% | $142,273,656▲10.4% | $141,044,296▲3.3% | $476,652,909▲10.4% | 990 |
| 2020 | $128,978,536▼10.0% | $128,836,095▼9.3% | $136,596,212▲0.3% | $431,935,374▲6.7% | 990 |
| 2019 | $143,326,160▲6.7% | $142,121,160▲5.7% | $136,242,914▲3.5% | $404,956,176▲6.1% | 990 |
| 2018 | $134,313,434▲12.5% | $134,413,434▲12.8% | $131,687,316▲4.9% | $381,734,801▲7.4% | 990 |
| 2017 | $119,390,920▲1.2% | $119,168,920▲1.1% | $125,528,620▲3.1% | $355,399,923▲10.8% | 990 |
| 2016 | $118,008,422▲0.7% | $117,819,422▲1.2% | $121,812,677▲6.7% | $320,642,607▲9.1% | 990 |
| 2015 | $117,153,523▲6.1% | $116,472,242▲6.2% | $114,194,785▲10.4% | $293,978,042▲6.7% | 990 |
| 2014 | $110,372,670▲5.4% | $109,703,200▲5.5% | $103,439,358▲5.9% | $275,497,316▲7.9% | 990 |
| 2013 | $104,737,700 | $103,967,002▲11.5% | $97,717,457▲12.9% | $255,399,497▲8.0% | 990 |
| 2012 | — | $93,228,879▼5.2% | $86,576,733▲10.2% | $236,414,610▲2.3% | 990 |
| 2011 | — | $98,351,208▲18.0% | $78,548,680▲14.1% | $230,990,806▲3.9% | 990 |
| 2010 | — | $83,369,692 | $68,845,909 | $222,246,121 | 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: David Mcginnis — $599,572 (0.23% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David Mcginnis | Ceo/gm | 60 | $599,572 |
| Kevin Stevens | Coo | 60 | $329,358 |
| Tracy Begley | Manager of Inside Ops | 45 | $279,317 |
| Mike Rolandt | Cfo | 45 | $273,272 |
| Chris Offill | Ceo/cfo Communications | 45 | $269,712 |
| Tyler Debey | Director of Engineering | 45 | $237,618 |
| Jeff Smith | Manager of It | 40 | $230,571 |
| Paul Yates | Manager of Operations | 40 | $224,747 |
| Leslie Simco | Manager of Operations | 40 | $221,718 |
| Marty Jones | Manager of Operations | 55 | $210,690 |
| William Mcginnis | Mgr of Bus. Development | 48 | $206,780 |
| Michael Lauer | Mgr of Bus. Development | 43 | $196,463 |
| Andy Hammer | Foreman | 50 | $196,371 |
| Shawn Wright | Manager Fo Operations | 45 | $192,745 |
| Eddy Reece | Substation Manager | 50 | $191,937 |
| David Ellis | Director | 4 | $43,886 |
| Jim Copeland | Secretary/treasurer | 4 | $43,286 |
| Dennis Ferguson | Director | 4 | $18,471 |
| Steve Robinson | President | 4 | $18,471 |
| Paul Kirkland | Vice President | 4 | $14,845 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Vaquero Underground Services LLC | Underground Construction | $23,141,534 |
| Techline Construction LLC | Overhead Construction | $5,739,215 |
| Apex Line Clearance LLC | Tree Trimming | $4,927,264 |
| Linetec Services LLC | Overhead Construction | $3,537,867 |
| Northstar Energy Solutions LLC | Substation Construction | $2,227,912 |
Grants made · $7,750 in FY2022
1 grant totaling $7,750 in FY2022. All grants made by Grayson-collin Electric Cooperative Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Texoma Exposition and Livestock Show Inc | Luncheon and buyer sponsorship | $7,750 |
Frequently asked questions
- Is Grayson-collin Electric Cooperative Inc a legitimate nonprofit?
- Yes. Grayson-collin Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 75-0300645, based in Van Alstyne, Texas.
- What is Grayson-collin Electric Cooperative Inc's EIN?
- Grayson-collin Electric Cooperative Inc's Employer Identification Number (EIN) is 75-0300645.
- How much revenue does Grayson-collin Electric Cooperative Inc report?
- Grayson-collin Electric Cooperative Inc reported $261,559,164 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Grayson-collin Electric Cooperative Inc have?
- CharityIndex grades Grayson-collin Electric Cooperative Inc B+, based on financial health (reserves and operating margin).
- How much does Grayson-collin Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Grayson-collin Electric Cooperative Inc's latest Form 990 is $599,572, paid to David Mcginnis (Ceo/gm).
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Data for Grayson-collin Electric Cooperative Inc (EIN 75-0300645) 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.