Nonprofit · EIN 75-0569260
SOUTH PLAINS ELECTRIC COOPERATIVE INC
Tax-exempt · LUBBOCK, TX 79408
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $167,567,520 | $169,150,958 | -$1,583,438 | $563,842,361 | $333,380,160 | $230,462,201 |
| December 31, 2023 | 990 | $191,206,295 | $192,742,795 | -$1,536,500 | $528,128,446 | $299,574,211 | $228,554,235 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $168,855,331
- Investment income
- -$1,732,837
- Net rental income
- $109,430
- Net gain from sales of assets
- -$2,536,742
- Net income from sales of inventory
- $209,444
- Other revenue
- $445,026
Expenses
- Grants and similar amounts paid
- $296,818
- Benefits paid to members
- $3,463,753
- Compensation of officers, directors and key employees
- $1,911,548
- Other salaries and wages
- $12,076,356
- Salaries, compensation and benefits (total)
- $20,421,063
- Professional fundraising fees
- $0
- Depreciation
- $12,722,714
Balance sheet and other
- Total assets, start of year
- $528,128,446
- Total assets, end of year
- $563,842,361
- Total liabilities, end of year
- $333,380,160
- Net assets, end of year
- $230,462,201
- Land, buildings and equipment
- $364,026,974
- Gross unrelated business income
- $95,473
- Gross receipts
- $170,530,705
- Employees
- 205
- Volunteers
- 0
- Year formed
- 1943
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN RANDAL BAILEY | ASSISTANT GENERAL MANAGER Officer | 42 | $372,088 | $273,683 |
| LARRY DALE ANCELL | EXECUTIVE VP/GENERAL MANAG Officer | 42 | $440,456 | $116,835 |
| SHANE ADAMS | CHIEF FINANCIAL OFFICER Officer | 45 | $264,336 | $82,934 |
| RANDY MCGEE | MANAGER OF MEMBER SERVICES Highest-paid employee | 40 | $249,586 | $47,697 |
| LYNN SIMMONS | DIRECTOR OF COMMUNICATIONS Highest-paid employee | 40 | $228,228 | $63,783 |
| TAHNEE TRUITT | DIRECTOR OF HUMAN RESOURCE Highest-paid employee | 40 | $231,585 | $56,746 |
| JON HENSON | LUBBOCK DIVISION MANAGER Highest-paid employee | 40 | $212,641 | $72,084 |
| JAMEY PHILLIPS | GENERAL COUNSEL/DIRECTOR CORP AFFAIRS Highest-paid employee | 40 | $244,644 | $30,345 |
| LLOYD ARTHUR | DIRECTOR Trustee or director | 14.8 | $33,692 | $0 |
| DANNY STANTON | VICE PRESIDENT Trustee or director, Officer | 19.9 | $33,000 | $0 |
| BRENT WHITAKER | DIRECTOR Trustee or director | 13.7 | $32,892 | $0 |
| LARRY BROWNING | DIRECTOR Trustee or director | 13.7 | $30,600 | $0 |
| JOE MCFERRIN | DIRECTOR Trustee or director | 15.8 | $29,800 | $0 |
| SCOTT MARTIN | SECRETARY/TREASURER Trustee or director, Officer | 14.7 | $29,692 | $0 |
| RYNN TRUETT | ASSISTANT SECRETARY/TREASU Trustee or director, Officer | 15.5 | $29,540 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMIE MCNEILL | DIRECTOR Trustee or director | 13.5 | $29,000 |
| DAVID GOSSETT | DIRECTOR Trustee or director | 14.4 | $27,400 |
| BOBBY RICHEY | PRESIDENT Trustee or director, Officer | 21.4 | $27,000 |
| BENNY NIXON | DIRECTOR Trustee or director | 12.7 | $26,800 |
| RD MCCALLISTER | DIRECTOR (JAN-AUG) Trustee or director | 12.9 | $17,000 |
| DEWAYNE MCCALLISTER | DIRECTOR (AUG-DEC) Trustee or director | 19.8 | $14,800 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN RANDAL BAILEY | ASSISTANT GENERAL MANAGER Officer | 42 | $315,781 | $254,752 |
| LARRY DALE ANCELL | EXECUTIVE VP/GENERAL MANAGER Officer | 41 | $381,186 | $89,437 |
| SHANE ADAMS | CHIEF FINANCIAL OFFICER Officer | 45 | $224,212 | $72,407 |
| TAHNEE TRUITT | DIRECTOR OF HUMAN RESOURCES Highest-paid employee | 40 | $216,674 | $49,838 |
| LYNN SIMMONS | DIRECTOR OF COMMUNICATIONS Highest-paid employee | 40 | $210,429 | $55,979 |
| JON HENSON | LUBBOCK DIVISION MANAGER Highest-paid employee | 40 | $195,983 | $63,466 |
| STEVEN LATHAM | MANAGER OF INFORMATION TECHNOLOGY Highest-paid employee | 40 | $194,480 | $59,893 |
| JOE SALINAS | OPERATIONS SUPERINTENDENT Highest-paid employee | 40 | $197,439 | $45,663 |
| BRENT WHITAKER | DIRECTOR Trustee or director | 11.6 | $34,100 | $0 |
| LLOYD ARTHUR | DIRECTOR Trustee or director | 12.2 | $33,500 | $0 |
| SCOTT MARTIN | SECRETARY/TREASURER Trustee or director, Officer | 14.6 | $32,100 | $0 |
| DANNY STANTON | VICE PRESIDENT Trustee or director, Officer | 16.5 | $31,200 | $0 |
| LARRY BROWNING | DIRECTOR Trustee or director | 11.5 | $30,800 | $0 |
| RYNN TRUETT | ASSISTANT SECRETARY/TREASU Trustee or director, Officer | 13.3 | $30,400 | $0 |
| JOE MCFERRIN | DIRECTOR Trustee or director | 12.1 | $30,104 | $0 |
| BOBBY RICHEY | PRESIDENT Trustee or director, Officer | 19.2 | $29,400 | $0 |
| BENNY NIXON | DIRECTOR Trustee or director | 11.4 | $28,600 | $0 |
| DAVID GOSSETT | DIRECTOR Trustee or director | 11 | $27,600 | $0 |
| RD MCCALLISTER | DIRECTOR Trustee or director | 10.6 | $27,000 | $0 |
| GLEN JONES | DIRECTOR (JAN-AUG) Trustee or director | 12.8 | $18,350 | $0 |
| JAMIE MCNEILL | DIRECTOR (AUG-DEC) Trustee or director | 14.9 | $12,200 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1830, LUBBOCK, TX 79408-1830
- Principal officer (990 for 2024)
- DALE ANCELL, PO BOX 1830, LUBBOCK, TX 79408
- Signed the 990
- DALE ANCELL, EXECUTIVE VP/GENERAL MANAGER
- Phone
- (806) 775-7732
- Website
- WWW.SPEC.COOP
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
NONE
Program accomplishments
- SALES OF ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 75,399 ACTIVE SERVICES AT YEAR END.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 75-0569260
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1943
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $563,842,361
- Income (IRS master file)
- $170,530,705
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $167,567,520 | $169,150,958 | $563,842,361 | XML |
| 990 | December 2023 | $191,206,295 | $192,742,795 | $528,128,446 | XML |
| 990 | December 2022 | $208,235,314 | $209,462,049 | $486,202,083 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 75-0569260).
Questions about SOUTH PLAINS ELECTRIC COOPERATIVE INC
- What is the EIN of SOUTH PLAINS ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of SOUTH PLAINS ELECTRIC COOPERATIVE INC is 75-0569260.
- Is SOUTH PLAINS ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1943.
- Are donations to SOUTH PLAINS ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SOUTH PLAINS ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOUTH PLAINS ELECTRIC COOPERATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOUTH PLAINS ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SOUTH PLAINS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names DALE ANCELL.
- Who are the officers and directors of SOUTH PLAINS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 21 people; 21 received compensation from the organization, the highest $372,088 (JOHN RANDAL BAILEY, ASSISTANT GENERAL MANAGER).
- How much revenue does SOUTH PLAINS ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $167,567,520, expenses of $169,150,958 and total assets of $563,842,361 at year end.
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