Brazos Electric Cooperative

Legal name: Brazos Electric Power Cooperative Inc

Nonprofit profile at a glance

EIN
740524729
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Waco, TX, US
Phone
254-750-6500
Rating confidence
Limited

Official website

Reported finances

Revenue
$312,124,623
Expenses
$295,608,811
Assets
$1,802,974,037
Liabilities
$1,594,004,607

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

36 people listed

Executive titles in this filing

  • AUDIE MORRIS (VICE PRESIDENT)
  • DENNIS MCWHORTER (PRESIDENT)
  • DAVID ALBERS (VICE PRESIDENT - ENGINEERING & SYSTEM PLANNING)
  • JOHNNY YORK (VICE PRESIDENT - TRANSMISSION THROUGH 10/31/2024)
  • JOSHUA CLEVENGER (FORMER VICE PRESIDENT - POWER SUPPLY)

Highest reported compensation

  • MARK FAGAN (EXECUTIVE VP & GM): $837,791 total reported compensation
  • JOHNNY YORK (VICE PRESIDENT - TRANSMISSION THROUGH 10/31/2024): $785,798 total reported compensation
  • CLIFTON KARNEI (FORMER EXECUTIVE VP & GM): $642,624 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Brazos Electric's purpose is to provide safe, reliable, and cost-effective transmission and distribution service to members and wholesale transmission customers, and to support the reliability of the bulk power system.

What it reported doing in 2024

BRAZOS ELECTRIC provides safe, reliable, and cost-effective transmission and distribution service to RURAL ELECTRIC DISTRIBUTION COOPERATIVES. BRAZOS SERVES SIXTEEN MEMBER COOPERATIVES.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 61
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.3%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 6.1; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 2.2%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 4th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $838K · 36 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $15.8M reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 30 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Fund balance restriction sum did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.