Texas Reliability Entity Inc
Nonprofit profile at a glance
- EIN
- 271582178
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Austin, TX, USA
- Phone
- 5125834900
- Rating
- 59
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Public Utilities
Reported finances
- Revenue
- $19,096,699
- Expenses
- $16,671,016
- Assets
- $17,806,444
- Liabilities
- $8,153,348
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- Jim Albright (President & CEO)
- Donna Bjornson (Vice President & CFO)
- Joseph Younger (Vice President & CPO)
Highest reported compensation
- Jim Albright (President & CEO): $661,717 total reported compensation
- Joseph Younger (Vice President & CPO): $410,800 total reported compensation
- Derrick Davis (General Counsel and Corporate Secretary): $383,645 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Texas reliability entity, inc. (Texas re) is a Texas non-profit corporation that is (a) one of the six regional entities under a delegation agreement with north american electric reliability corporation (nerc) as the ero (electric reliability organization), which was approved by the federal energy regulatory commission (ferc) on may 6, 2010, for a five-year period beginning january 1, 2011 and renewed for another five-year period beginning january 1, 2016; and under its regional entity contract, Texas re facilitates development of and oversees compliance with federal electric reliability standards by users, owners, and operators of the bulk power system (bps) in the electric reliability council of Texas, inc. (ercot) region in Texas. The agreement was extended for another five-year term effective january 1, 2021.
What it reported doing in 2024
Texas re lessens the burdens of government in several ways. Texas re's delegation agreement with nerc provides that nerc delegates to Texas re certain of the responsibilities delegated by ferc to nerc (as the certified electric reliability organization) under section 215 of the federal power act. These activities include monitoring and enforcement of compliance with mandatory electric reliability standards and facilitating the development of new or modified federal electric reliability standards. The monitoring, enforcement, and implementation or modification of standards is designed to help prevent or reduce outages, blackouts, security threats, and cyber attacks on the electric grid that could otherwise cause serious risk to human health, safety, and the economy.
Operating model
- Revenue model
- Donor-supported. 98% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 44
- Transparency & Controls: 79
- Accountability: 49
- Sustainability: 50
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 47.4%; rating input score 47
- Program expense ratio: 53%; rating input score 53
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 28.6%; rating input score 29; 7th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 12.7%; rating input score 73; 73rd percentile among comparable filings
- Total-asset coverage ratio: 1.07; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.46; rating input score 32; 32nd percentile among comparable filings
- Officer compensation ratio: 21%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 2% per year; rating input score 100; 20th percentile among comparable filings
- Revenue growth: 5.4% per year; rating input score 100; 47th percentile among comparable filings
- Asset growth: 6.5% per year; rating input score 100; 45th percentile among comparable filings
Details
- Where the money goes: 47.4% of revenue deployed · 53% of spending went to programs
- Governance: 2 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $8.8M in reported program spending
- Leadership: top reported pay $662K · 15 people listed · 2 of 6 pay-setting controls reported
- Consistency: 31 of 31 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 13 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
- High — Accountability: Independent voting board scored 29/100.
- Review — Financial Efficiency: Program expense ratio scored 53/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- High — Sustainability: Officer compensation ratio scored 3/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 32/100.