Withlacoochee River Electric Cooperative Inc
501(c)(12)
Strong reserves Growing revenue
Withlacoochee River Electric Cooperative Inc is a 501(c)(12) organization based in Dade City, Florida, registered in 1959, with $601,244,559 in FY2024 revenue.
Po Box 278, Dade City, FL, 33526 EIN 59-0545223 Since 1959
Revenue (FY2024)
$601.2M
▲ 4.6% vs prior year
Expenses (FY2024)
$576.0M
Net assets
$707.3M
Employees
629
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 Withlacoochee River 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 rating15 mo reserves · +4% 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 Withlacoochee River Electric Cooperative Inc: 15 mo reserves · +4% 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 Withlacoochee River 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 Withlacoochee River Electric Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
The goal of the cooperative is to provide each of its members the best possible service at the lowest cost.
Contact & location
Financial trends
Revenue grew from $433.3M (FY2013) to $601.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $794.0MNet assets $707.3M
Operating margin
4.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.5B
Total liabilities
$794.0M
Net assets
$707.3M
Salaries & benefits
$3.7M
1% of expenses
Board members
9
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $601,244,559▲4.6% | $575,986,025▲7.4% | $707,263,728▲4.3% | $1,501,239,477▲12.0% | 990 |
| 2023 | $574,812,838▼1.6% | $536,323,840▼4.5% | $678,022,142▲5.8% | $1,340,349,704▲4.9% | 990 |
| 2022 | $584,081,760▲22.5% | $561,756,607▲20.7% | $640,645,887▲4.9% | $1,278,036,654▲5.0% | 990 |
| 2021 | $476,736,829▼2.3% | $465,604,862▼0.8% | $610,999,917▲2.0% | $1,217,179,383▲6.9% | 990 |
| 2020 | $487,757,302▲0.6% | $469,303,107▲1.7% | $599,184,363▲3.5% | $1,139,078,070▲0.8% | 990 |
| 2019 | $484,711,016▲0.4% | $461,563,148▲2.6% | $578,723,847▲4.2% | $1,129,965,078▲5.7% | 990 |
| 2018 | $482,819,489▲8.2% | $449,865,829▲6.6% | $555,472,154▲6.6% | $1,068,865,945▲7.7% | 990 |
| 2017 | $446,085,256▼2.7% | $422,092,777▼2.3% | $521,027,763▲4.8% | $992,113,914▼2.0% | 990 |
| 2016 | $458,345,184▼3.3% | $431,964,840▼4.0% | $497,257,318▲5.5% | $1,012,221,595▲4.9% | 990 |
| 2015 | $474,061,117▲3.1% | $449,771,374▲4.3% | $471,362,267▲5.3% | $964,909,609▲5.6% | 990 |
| 2014 | $459,635,593▲6.1% | $431,117,518▲3.5% | $447,685,336▲6.7% | $913,811,699▲2.3% | 990 |
| 2013 | $433,318,076 | $416,697,608▼0.7% | $419,393,184▲4.0% | $893,528,715▲3.3% | 990 |
| 2012 | — | $419,690,583▼0.9% | $403,097,733▲2.9% | $864,868,467▲4.1% | 990 |
| 2011 | — | $423,594,980▼4.4% | $391,585,291▲3.8% | $831,138,828▲4.8% | 990 |
| 2010 | — | $443,155,267 | $377,258,081 | $793,274,314 | 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 B Lambert II — $662,267 (0.11% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David B Lambert II | General Manager | 70 | $662,267 |
| Ronnie Deese | Manager | 50 | $382,154 |
| Joseph Marina | District Manager | 55 | $320,479 |
| Gary F Steele Jr | Manager-member Relat | 60 | $306,875 |
| David Gonzalez | District Manager | 55 | $296,665 |
| Marlin Sexton Jr | District Manager | 55 | $278,241 |
| Kristina S Walzak | Mgr Hr & Job Training & Safety | 55 | $277,236 |
| Alan Hengesbach | Sec'y/treasurer | 15 | $53,541 |
| Terrence Schrader | President | 15 | $52,191 |
| Paul Little | Trustee | 10 | $41,178 |
| Robert Barthle | Trustee | 10 | $40,941 |
| Desmond G Little | Trustee | 10 | $40,608 |
| Patricia P Bechtelheimer | Trustee | 10 | $35,235 |
| Kimberly Kinney | Trustee | 10 | $32,759 |
| Robert W Strickland | Vice President | 15 | $28,751 |
| David Hunnicutt | Trustee | 15 | $22,600 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Pike Electric LLC | Construction | $16,389,895 |
| The Davey Tree Expert | Row Cutting | $14,843,826 |
| Lintec Services LLC | Construction | $4,094,831 |
| J D Factors | Construction | $3,037,210 |
| Premium Utility | Construction | $1,704,970 |
Grants made · $115K in FY2024
10 grants totaling $115K in FY2024. All grants made by Withlacoochee River Electric Cooperative Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Pasco Economic Development Council Inc | General support | $25,000 |
| Woody Williams Foundation | General support | $12,500 |
| Boy Scouts of America | General support | $10,563 |
| Vincent Academy Adventure Coast Inc | General support | $10,000 |
| Sertoma Inc | General support | $10,000 |
| Pasco Hernando State College Foundation Inc | General support | $10,000 |
| Lake Sumter State College Foundation Inc | General support | $10,000 |
| Feeding Pascos Elderly Inc | General support | $10,000 |
| Citrus Community Support Foundation Inc | General support | $10,000 |
| Pasco County Sheriff's Department | General support | $6,699 |
Frequently asked questions
- Is Withlacoochee River Electric Cooperative Inc a legitimate nonprofit?
- Yes. Withlacoochee River Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 59-0545223, based in Dade City, Florida.
- What is Withlacoochee River Electric Cooperative Inc's EIN?
- Withlacoochee River Electric Cooperative Inc's Employer Identification Number (EIN) is 59-0545223.
- How much revenue does Withlacoochee River Electric Cooperative Inc report?
- Withlacoochee River Electric Cooperative Inc reported $601,244,559 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Withlacoochee River Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Withlacoochee River Electric Cooperative Inc's latest Form 990 is $662,267, paid to David B Lambert II (General Manager).
More nonprofits in Dade City
Explore more
Data for Withlacoochee River Electric Cooperative Inc (EIN 59-0545223) 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.