2024-11-14T09:51:00+00:00 2023-12-31 440160260 Forvis Mazars LLP PO Box 3667 Little Rock AR 722033667 990 2023-01-01 740524729 Brazos Electric Power Cooperative Inc BRAZ 2547506500 7616 BAGBY AVE WACO TX 76712 KHAKI BORDOVSKY VP & CFO 2547506500 2024-11-14 true Amber Sherrill P00748683 5013721040 2024-11-14 2023 2024-10-15 13:58:12Z MARK FAGAN 7616 BAGBY AVE WACO TX 76712 292095733 false X WWW.BRAZOSELECTRIC.COM X 1941 TX TO PROVIDE VALUED SERVICE TO OUR MEMBERS AND CUSTOMERS BY GENERATING, PROCURING, AND TRANSMITTING RELIABLE POWER AT THE LOWEST COST. X 16 16 411 5 0 0 0 0 1959369342 283477538 2418 4331322 -88757256 4281375 1870614504 292090235 140000000 0 0 10017252 41955155 34464440 0 0 0 2454485153 231141678 2636440308 275623370 -765825804 16466865 2840038435 1676992262 2677039491 1487564921 162998944 189427341 BRAZOS ELECTRIC POWER COOPERATIVE WAS FORMED FOR THE PURPOSE OF FURNISHING DEPENDABLE AND ECONOMICAL WHOLESALE ELECTRIC POWER AND ENERGY FOR RURAL ELECTRIC DISTRIBUTION COOPERATIVES. BRAZOS SERVES SIXTEEN MEMBER COOPERATIVES. false false BRAZOS ELECTRIC POWER COOPERATIVE WAS FORMED FOR THE PURPOSE OF FURNISHING DEPENDABLE AND ECONOMICAL WHOLESALE ELECTRIC POWER AND ENERGY FOR RURAL ELECTRIC DISTRIBUTION COOPERATIVES. BRAZOS SERVES SIXTEEN MEMBER COOPERATIVES. 0 false false false false false false false false true false false false false false false true false false false false false false false false false false false true false false false false false false false false false true false true true true false true 171 0 true 411 true false false false false false 270179862 21699182 false false false X 16 16 false false false false true true true true true false false true true true true true true true true false CA AZ RI X MS KHAKI BORDOVSKY 2547506500 7616 BAGBEY AVE WACO TX 76712 AUDIE MORRIS VICE PRESIDENT 9.0 0.0 X X 46766 0 0 DENNIS MCWHORTER PRESIDENT 24.0 0.0 X X 47800 0 0 RICK ICKERT SECRETARY/TREASURER 10.0 0.0 X X 48756 0 0 BILLY JONES DIRECTOR 12.0 0.0 X 39738 0 0 BRANDON YOUNG DIRECTOR 4.0 0.0 X 0 0 0 CAMERON SMALLWOOD DIRECTOR 2.0 0.0 X 0 0 0 FRANKIE MARTIN DIRECTOR 4.0 0.0 X 40354 0 0 GLENN JONES DIRECTOR 7.0 0.0 X 26102 0 0 HENRY BRADFORD DIRECTOR 5.0 0.0 X 38899 0 0 JAMES LASATER DIRECTOR 3.0 0.0 X 0 0 0 KENNETH ALEXANDER DIRECTOR 6.0 0.0 X 40112 0 0 LARRY ANCELL DIRECTOR 2.0 0.0 X 1966 0 0 MONTY CARLISLE DIRECTOR 10.0 0.0 X 39522 0 0 NEIL HESSE DIRECTOR 3.5 0.0 X 0 0 0 SCOTT MARTIN DIRECTOR 2.0 0.0 X 15495 0 0 STEVE HARRIS DIRECTOR 6.0 0.0 X 0 0 0 STEVE JONES DIRECTOR 12.0 0.0 X 43693 0 0 WILLIAM ALLEN DIRECTOR 3.0 0.0 X 47511 0 0 WILLIAM RAGSDALE DIRECTOR 15.0 0.0 X 39579 0 0 CLIFTON KARNEI EXECUTIVE VP & GM THROUGH 3/31/2023 46.0 0.0 X 985287 0 323926 JOHNNY YORK INTERIM EVP & GM 4.1.23 - 8.31.23 47.0 0.0 X 511656 0 293352 KHAKI BORDOVSKY VICE PRESIDENT - SERVICES 41.0 0.0 X 470473 0 101475 MARK FAGAN EXECUTIVE VP & GM SINCE 9/1/2023 46.0 0.0 X 195970 0 15561 JOSHUA CLEVENGER VICE PRESIDENT - POWER SUPPLY 42.0 0.0 X 510846 0 103298 SHARI HEINO CHIEF COMPLIANCE OFFICER 42.0 0.0 X 261038 0 42351 TRAVIS THRALL VICE PRESIDENT - GENERATION 45.0 0.0 X 246604 0 49122 BRENT FOX MANAGER FISCAL SERVICES 48.0 0.0 X 223073 0 61995 DANIEL KUEKER MANAGER OF MARKET OPERATIONS AND SETTLEMENT 42.0 0.0 X 246191 0 34635 KYLE MINNIX MANAGER COMMUNICATION 43.0 0.0 X 236875 0 110952 MICHAEL EVANS MANAGER OF POWER SUPPLY 41.0 0.0 X 224678 0 34968 RODNEY LITTLE MANAGER NETWORK SERVICES 41.0 0.0 X 221737 0 49943 4850721 0 1221578 182 false true false Integrated Power Company LLC PO Box 1743 North Platte NE 69103 Transmission Construction 10054913 Michels Power Inc 1775 E Shady Lane Neenah WI 54956 Transmission Construction 10005011 Seimens Energy Inc 8615 Freeport Pkwy Suite 180 Irving TX 75063 Power Plant Maintenance 5994732 Primoris T&D Services LLC 1760 S Stemmons Fwy Suite 300 Lewisville TX 75067 Transmission Construction 2987482 Norton Rose Fulbright US LLP 1301 McKinney Suite 5100 Houston TX 77010 Legal 2716934 81 0 ELECTRIC ENERGY REVENUE 221000 282619278 282619278 OTHER MEMBER REVENUES 221000 1252266 1252266 TRANSMISSION EXPORT REVENUE 221000 251020 251020 SALE OF EXCESS NATURAL GAS 221000 233538 233538 CAPITAL CREDITS 221000 -878564 -878564 0 0 0 0 283477538 4107870 4107870 3179571 3179571 167477 0 167477 167477 167477 228950 5498 0 223452 223452 223452 GAIN ON DEFEASANCE 900099 934327 934327 0 0 0 0 934327 292090235 283477538 0 8612697 10017252 4627251 22443575 1833392 3632741 1927481 5127202 282660 7241538 1000 463540 978618 2555650 2597953 227694 41187765 49852204 2837262 OPERATING EXPENSE 109590839 BANK CHARGES 4882135 MAINTENANCE EXPENSE 2498085 MEMBERSHIP DUES & FEES 817533 0 275623370 145416617 63782146 87878843 2357028 176726562 35552630 0 0 0 116363112 70095583 135269739 12267348 2098871848 626160410 2144897597 1472711438 0 0 20226089 33485965 0 2840038435 1676992262 762394268 145064828 4006308 52480314 0 1903933151 1290019779 6705764 0 2677039491 1487564921 X 95 95 162998849 189427246 162998944 189427341 2840038435 1676992262 X 16466865 9961532 X false true X true false 176828386 176828386 42892424 9037474 33854950 1872544533 611616867 1260927666 6606505 5506069 1100436 1472711438 291211147 0 0 291211147 879088 879088 292090235 264782750 0 0 264782750 10840620 10840620 275623370 Schedule D, Part X, Line 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements EXPENSES NETTED WITH REVENUES IN AUDIT - 823368 ACES K-1 INCOME - 45424 EQUITY IN EARNINGS OF SUBSIDIARY - 10296 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements PATRONAGE CAPITAL ALLOCATION - 10017252 EXPENSES NETTED WITH REVENUES PER AUDIT - 823368 X X X X true false false CLIFTON KARNEI EXECUTIVE VP & GM THROUGH 3/31/2023 264818 0 0 0 720469 0 308234 0 15692 0 1309213 0 0 0 JOHNNY YORK INTERIM EVP & GM 4.1.23 - 8.31.23 417760 0 93896 0 0 0 266630 0 26722 0 805008 0 0 0 KHAKI BORDOVSKY VICE PRESIDENT - SERVICES 381290 0 89183 0 0 0 73308 0 28167 0 571948 0 0 0 MARK FAGAN EXECUTIVE VP & GM SINCE 9/1/2023 189862 0 6108 0 0 0 7200 0 8361 0 211531 0 0 0 JOSHUA CLEVENGER VICE PRESIDENT - POWER SUPPLY 193511 0 85500 0 231835 0 83353 0 19945 0 614144 0 0 0 SHARI HEINO CHIEF COMPLIANCE OFFICER 216512 0 44526 0 0 0 21956 0 20395 0 303389 0 0 0 TRAVIS THRALL VICE PRESIDENT - GENERATION 182049 0 64555 0 0 0 25121 0 24001 0 295726 0 0 0 KYLE MINNIX MANAGER COMMUNICATION 215552 0 14064 0 7259 0 84107 0 26845 0 347827 0 7259 0 BRENT FOX MANAGER FISCAL SERVICES 201155 0 13238 0 8680 0 32427 0 29568 0 285068 0 8680 0 DANIEL KUEKER MANAGER OF MARKET OPERATIONS AND SETTLEMENT 193065 0 47015 0 6111 0 19648 0 14987 0 280826 0 6111 0 RODNEY LITTLE MANAGER NETWORK SERVICES 206003 0 6409 0 9325 0 29024 0 20919 0 271680 0 9325 0 MICHAEL EVANS MANAGER OF POWER SUPPLY 103185 0 37612 0 83881 0 17124 0 17844 0 259646 0 7844 0 Schedule J, Part I, Line 4a Severance or change-of-control payment CLIFTON KARNEI, JOSHUA CLEVENGER, AND MICHAEL EVANS RECEIVED SEVERNCE PAYMENTS DURING 2023. CLIFTON KARNEI = $328,875 JOSHUA CLEVENGER = $118,384 MICHAEL EVANS = $50,631 Generation assets: power plant property, equipment, land, inventory 2023-06-12 749616653 Net purchase price 823040658 LS POWER EQUITY PARTNERS IV LP ONE TOWER CENTER BLVD FL 21 EAST BRUNSWICK NJ 08816 N/A false false false false Form 990, Part VI, Line 6 Classes of members or stockholders BRAZOS ELECTRIC IS OWNED BY 16 MEMBER ELECTRIC DISTRIBUTION COOPERATIVES. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body EACH MEMBER ELECTS THEIR REPRESENTATIVE TO SERVE AS A DIRECTOR ON THE BRAZOS ELECTRIC POWER COOPERATIVE BOARD. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders ANY COOPERATIVE MEMBER MAY BRING CHARGES AGAINST AN OFFICER, DIRECTOR OR ALTERNATE DIRECTOR BY FILING THEM IN WRITING WITH THE SECRETARY, TOGETHER WITH A PETITION SIGNED BY TEN PER CENT (10%) OF THE MEMBERS, REQUESTING THE REMOVAL OF THE OFFICER, DIRECTOR OR ALTERNATE DIRECTOR IN QUESTION. THE REMOVAL SHALL BE VOTED UPON AT THE NEXT REGULAR OR SPECIAL MEETING OF THE MEMBERS AND SHALL REQUIRE THE AFFIRMATIVE VOTE OF NOT LESS THAN TWO-THIRDS (2/3) OF ALL MEMBERS. ANY VACANCY CREATED BY SUCH REMOVAL MAY BE FILLED BY THE MEMBERS AT SUCH MEETING. ANY DIRECTOR OR ALTERNATE DIRECTOR REPRESENTING A CORPORATE MEMBER MAY BE REMOVED BY ACTION OF THE CORPORATE MEMBER. SUCH ACTION SHALL BE HONORED BY THE BOARD OF DIRECTORS UPON RECEIPT OF FORMAL NOTIFICATION. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS PREPARED BY FORVIS MAZARS. IT IS THEN REVIEWED BY THE MANAGER OF FISCAL SERVICES AND CONTROLLER; VICE PRESIDENT AND CHIEF FINANCIAL OFFICER; AND THE EXECUTIVE VICE PRESIDENT AND GENERAL MANAGER BEFORE IT IS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO ITS SUBMISSION TO THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy ON AN ANNUAL BASIS THE DIRECTORS FILL OUT A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. ON A MONTHLY BASIS THE BOARD IS PROVIDED A SCHEDULE OF PAYMENTS MADE FOR SERVICES AND GOODS PROVIDED THE COOPERATIVE. IF A BUSINESS DECISION INVOLVES A CONFLICT WITH A MEMBER, THAT MEMBER IS REQUESTED TO SIT OUT OF THE MEETING WHILE A DISCUSSION AND VOTE IS HELD. Form 990, Part VI, Line 15a Process to establish compensation of top management official CEO PAY IS DETERMINED BY THE BRAZOS ELECTRIC BOARD ALONG WITH WAGE SURVEY INFORMATION THAT IS PROVIDED FOR CEO SALARIES. THE BOARD MEMBERS MEET TO DISCUSS IF AN INCREASE SHOULD BE GIVEN BASED ON PERFORMANCE AND TENURE IN THE POSITION. THE 16 MEMBER BOARD IS RESPONSIBLE FOR DECIDING ON THE PAY OF THE CEO. Form 990, Part VI, Line 15b Process to establish compensation of other employees VICE PRESIDENT'S PAY IS DETERMINED BASED ON TWO COMPONENTS. EACH VICE PRESIDENT'S JOB TITLE IS PLACED IN A SALARY GRADE BASED ON WAGE SURVEY STUDIES. INDIVIDUAL INCREASES ARE BASED ON PERFORMANCE, TENURE, AND POSITION WITHIN THE SALARY GRADE. THE CEO OF BRAZOS ELECTRIC IS RESPONSIBLE FOR EVALUATING INCREASES FOR VICE PRESIDENTS. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. Form 990, Part XI, Line 9 Other changes in net assets or fund balances ACES LLC K-1 INCOME - -45424; PATRONAGE CAPITAL ALLOCATION - 10017252; LOSS ON INVESTMENT IN SUBSIDIARY - -10296; BRAZOS FUEL COMPANY PO BOX 2585 WACO TX 767022585 741787410 FUEL PRODUCTS TX BRAZOS ELECTRIC C Corporation 1 true false false false false false false false false false false false false false false false false false true false