ELECTRIC RELIABILITY COUNCIL OF TE… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1990

Legal Domicile

Principal Officer

PABLO VEGAS

Phone

5122257000

Tax Period

2023-01-01 to 2023-12-31

ELECTRIC RELIABILITY COUNCIL OF TEXAS INC, founded in 1990, is a major nonprofit in the Public & Societal Benefit sector that reported $488.0M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $85.2M, a strong 17% operating margin.

Mission

WE SERVE THE PUBLIC BY ENSURING A RELIABLE GRID, EFFICIENT ELECTRICITY MARKETS, OPEN ACCESS AND RETAIL CHOICE.

Program Service Accomplishments

Program 1

Expenses: $216,153,919 Revenue: $371,269,856

ERCOT SUCCESSFULLY MANAGES THE FLOW OF ELECTRICITY TO MORE THAN 26 MILLION CUSTOMERS IN THE STATE OF TEXAS, WHICH INCLUDES THE MANAGEMENT OF FINANCIAL SETTLEMENT FOR THE COMPETITIVE WHOLESALE...

ERCOT SUCCESSFULLY MANAGES THE FLOW OF ELECTRICITY TO MORE THAN 26 MILLION CUSTOMERS IN THE STATE OF TEXAS, WHICH INCLUDES THE MANAGEMENT OF FINANCIAL SETTLEMENT FOR THE COMPETITIVE WHOLESALE BULK-POWER MARKET AND THE ADMINISTRATION OF ELECTRIC PROVIDER ACCOUNT SWITCHING IN COMPETITIVE CHOICE AREAS.

Program 2

Expenses: $102,121,687 Revenue: $102,121,687

ERCOT ACTS AS THE SERVICER AND ADMINISTRATOR FOR THE SUBCHAPTER N BONDS. UNDER THE ERCOT NODAL PROTOCOLS RELATING TO THE SUBCHAPTER N UPLIFT BALANCE SECURITIZATION, ERCOT BILLS MARKET PARTICIPANTS...

ERCOT ACTS AS THE SERVICER AND ADMINISTRATOR FOR THE SUBCHAPTER N BONDS. UNDER THE ERCOT NODAL PROTOCOLS RELATING TO THE SUBCHAPTER N UPLIFT BALANCE SECURITIZATION, ERCOT BILLS MARKET PARTICIPANTS DAILY IN AMOUNTS SUFFICIENT TO PROVIDE PAYMENTS OF DEBT SERVICE AND OTHER REQUIRED AMOUNTS AND REMITS THOSE FUNDS TO THE TRUSTEE.

Program 3

Expenses: $13,278,479 Revenue: $13,278,479

ERCOT ACTS AS THE SERVICER AND ADMINISTRATOR FOR THE SUBCHAPTER M BONDS. UNDER THE ERCOT NODAL PROTOCOLS RELATING TO THE SUBCHAPTER M DEFAULT BALANCE SECURITIZATION, ERCOT BILLS MARKET PARTICIPANTS MONTHLY IN AMOUNTS SUFFICIENT TO PROVIDE PAYMENTS OF DEBT SERVICE AND OTHER REQUIRED AMOUNTS AND REMITS THOSE FUNDS TO THE TRUSTEE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $374,865,926

Investment Income $113,162,041

Other Revenue $0

TOTAL REVENUE $488,027,967

Expense Breakdown

Grants Paid $0

Salaries & Benefits $169,622,944

Fundraising Expenses $0

Program Expenses $331,554,085

Other Expenses $233,168,114

TOTAL EXPENSES $402,791,058

Year-over-Year Comparison

	2023	2022	Change
Revenue	$488,027,967	$355,423,897	+0.4%
Expenses	$402,791,058	$328,536,901	+0.2%
Net Income	$85,236,909	$26,886,996	+2.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

959

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$9,376,262

Total Directors

$3,086,585

Key Employees

$344,815

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PABLO VEGAS	BOARD MEMBER; PRESIDENT AND CEO	40.00	Officer Director	$2,126,425	$75,754	$2,202,179
BILL FLORES	BOARD MEMBER	4.00	Director	$150,052	$0	$150,052
CARLOS AGUILAR	BOARD MEMBER	4.00	Director	$123,500	$0	$123,500
COURTNEY HJALTMAN	BOARD MEMBER	4.00	Director	$0	$0	$0
JOHN SWAINSON	BOARD MEMBER	4.00	Director	$129,750	$0	$129,750
JULIE ENGLAND	BOARD MEMBER	4.00	Director	$123,500	$0	$123,500
LINDA CAPUANO	BOARD MEMBER	4.00	Director	$80,000	$0	$80,000
PAUL FOSTER	BOARD MEMBER	4.00	Director	$0	$0	$0
PEGGY HEEG	BOARD MEMBER	4.00	Director	$138,802	$0	$138,802
ROBERT FLEXON	BOARD MEMBER	4.00	Director	$138,802	$0	$138,802
CHAD SEELY	SR. VP, GENERAL COUNSEL	40.00	Officer	$965,184	$77,103	$1,042,287
JEYANT TAMBY	SR. VP AND CAO & CHIEF OF STAFF	40.00	Officer	$638,708	$80,938	$719,646
SEAN TAYLOR	VP & CFO	40.00	Officer	$554,962	$73,285	$628,247
KENAN OGELMAN	VP, COMMERCIAL OPERATIONS	40.00	Officer	$552,368	$55,317	$607,685
MARA SPAK	VP, HUMAN RESOURCES	40.00	Officer	$544,802	$55,340	$600,142
JAYAPAL PARAKKUTH	VP & CIO	40.00	Officer	$515,684	$80,049	$595,733
DWAYNE RICKERSON	SVP & COO	40.00	Officer	$494,853	$75,213	$570,066
SALLIE BETTY DAY	VP, SECURITY & COMPLIANCE AND CCO	40.00	Officer	$443,420	$75,437	$518,857
DAN WOODFIN	VP, SYSTEM OPERATIONS	40.00	Officer	$448,177	$60,938	$509,115
ROBERT BLACK	VP, PUBLIC AFFAIRS	40.00	Officer	$432,176	$74,439	$506,615
KRISTI HOBBS	VP, SYSTEM PLANNING & WEATHERIZATION	40.00	Officer	$431,032	$71,327	$502,359
JONATHAN LEVINE	ASST. GC & ASST. CORP. SEC.	40.00	Officer	$301,666	$71,665	$373,331
LESLIE WILEY	DIRECTOR, TREASURER	40.00	Key Emp	$292,915	$51,900	$344,815
NATHAN BIGBEE	DEPUTY GENERAL COUNSEL	40.00	Highest	$397,477	$75,182	$472,659
BRANDON GLEASON	DEPUTY GENERAL COUNSEL	40.00	Highest	$379,416	$55,635	$435,051
JIMMY HARTMANN	DIRECTOR, CONTROL ROOM OPERATIONS	40.00	Highest	$338,717	$67,568	$406,285
DAVE MAGGIO	PRINCIPAL, COMMERICAL OPERATIONS	40.00	Highest	$316,760	$55,596	$372,356
BRYAN HANLEY	SR. DIRECTOR, IT INFRASTRUCTURE	40.00	Highest	$297,241	$71,288	$368,529
JOHN MESSER	DIRECTOR, MARKET APPLICATION SERVICES	40.00		$255,630	$54,871	$310,501
AJAY MANNEPALLI	DIRECTOR, IT ARCH. & STRATEGY	40.00		$239,178	$65,464	$304,642

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$488,027,967	$402,791,058	$6,635,694,003	$85,236,909
2022	$355,423,897	$328,536,901	$6,964,387,654	$26,886,996
2021	$252,635,175	$257,288,238	$3,229,605,813	$-4,653,063
2020	$242,749,480	$232,650,935	$1,930,199,146	$10,098,545
2019	$260,219,816	$225,554,307	$1,750,295,213	$34,665,509
2018	$244,963,920	$209,134,689	$1,529,764,219	$35,829,231

ELECTRIC RELIABILITY COUNCIL OF TEXAS INC