SOUTH PLAINS ELECTRIC COOPERATIVE INC
LUBBOCK, TX 79408 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $167,567,520 | $169,150,958 | $230,462,201 |
| FY2023 | $191,206,295 | $192,742,795 | $228,554,235 |
| FY2022 | $208,235,314 | $209,462,049 | $208,537,138 |
| FY2021 | $159,722,811 | $161,612,173 | $200,771,398 |
| FY2020 | $149,006,332 | $149,125,880 | $200,708,985 |
| FY2019 | $150,898,523 | $151,423,757 | $186,434,845 |
| FY2018 | $156,780,979 | $156,350,710 | $168,759,504 |
| FY2017 | $134,070,625 | $138,655,346 | $152,851,969 |
| FY2016 | $130,873,692 | $130,831,933 | $147,465,364 |
| FY2015 | $136,936,908 | $132,307,638 | $138,590,603 |
| FY2014 | $150,837,656 | $150,798,312 | $128,064,034 |
| FY2013 | $138,197,017 | $138,060,444 | $124,098,872 |
| FY2012 | $123,088,747 | $123,159,020 | $109,474,518 |
| FY2011 | $140,048,899 | $140,119,276 | $101,302,416 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $168,855,331 | 100% |
What the numbers show
- Program service revenue made up 100% of total revenue in FY2024.
- Net assets covered about 16.3 months of expenses at the end of the reporting year.
- Total revenue rose from $140,048,899 in FY2011 to $167,567,520 in FY2024, Revenue increased in 6 and decreased in 7 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 9 of 14 reported years (FY2011, FY2012, FY2017, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024).
- The highest revenue on record here is $208,235,314 in FY2022.
- Net assets grew from $101,302,416 to $230,462,201 between FY2011 and FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
TO PROVIDE ELECTRIC ENERGY TO MEMBERS AT COST ON A COOPERATIVE BASIS.
IRS status
| Ruling year | 1943 |
| Subsection | 501(c)(12) |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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