2025 ANNUAL REPORT
Annual
BUILT BY GENERATIONS POWERED FOR THE FUTURE
Membership Meeting
Thursday, October 9th, 2025
Doors Open at 5:30 pm
Meeting Begins at 7:00 pm
Richard M Borchard Regional Fairgrounds
1213 Terry Shamsie Blvd, Robstown, TX
ANNUAL MEETING PROGRAM
REGISTRATION REGISTRATION
DINNER & ENTERTAINMENT
DINNER & ENTERTAINMENT BUSINESS MEETING BUSINESS MEETING
NEC CO-OP ENERGY WINNERS NEC CO-OP ENERGY WINNERS
CALL TO ORDER
BRIAN MENKING, BOARD PRESIDENT
INVOCATION
PRESENTATION OF COLORS
DOORS OPEN AT 5:30 PM
BBQ DINNER CATERED BY HOWARDS BBQ.
CHILDREN’S ENTERTAINMENT BY CUDDLES & CRITTERS. BOOTHS FOR: OPERATION ROUND UP, SAFETY, MEMBER SERVICES, SCHOLARSHIPS & YOUTH TOUR, HALO FLIGHT, MEET A LINEWORKER & MORE!
AT 7:00 PM THE BUSINESS MEETING WILL BE CALLED TO ORDER BY NEC BOARD PRESIDENT, BRIAN MENKING
1ST PRIZE $500 ELECTRIC BILL CREDIT
2ND PRIZE $250 ELECTRIC BILL CREDIT
REFERRAL PROGRAM WINNER PRIZE DRAWINGS
BOY SCOUTS OF AMERICA TROOP 65, CORPUS CHRISTI
NATIONAL ANTHEM
CALL FOR PLEDGE OF ALLEGIANCE
BRIAN MENKING, BOARD PRESIDENT
PRESENTATION OF BOARD MEMBERS AND COMMITTEE MEMBERS
BRIAN MENKING, BOARD PRESIDENT
PRESENTATION OF SPECIAL GUESTS
BRIAN MENKING, BOARD PRESIDENT
READING OF MINUTES AND TREASURER’S REPORT
BRIAN MENKING, BOARD PRESIDENT
DAVID ROSSE, SECRETARY/TREASURER
“BUILT BY GENERATIONS
POWERED FOR THE FUTURE” VIDEO
BRIAN MENKING, BOARD PRESIDENT
VARZAVAND “AVAN” IRANI, CHIEF EXECUTIVE OFFICER
ELECTION OF CANDIDATES BY ACCLAMATION
BRIAN MENKING, BOARD PRESIDENT
MEETING ADJOURNMENT
BRIAN MENKING, BOARD PRESIDENT
ANNUAL MEETING SURVEY
Please fill out the survey in your gift bag and drop it in the box by the exit on your way out.
TRANSPORTATION ASSISTANCE
Shuttle service is available for guests with disabilities. Thank you for your patience as we make every effort to assist you.
THESE PRINCIPLES ARE VALUES THAT COOPERATIVES UPHOLD WHICH SET US APART FROM OTHERS
Cooperatives, like Nueces Electric Cooperative, operate according to the same set of core principles and values. These principles are a key reason that electric cooperatives operate differently from other electric utilities, putting the needs of our member-owners and communities first.
VOLUNTARY &OPENMEMBERSHIP
EDUCATION, TRAINING,AND INFORMATION
Provideeducation &trainingformembers, representatives,andall employeestocontribute effectivelytoco-op development.
AUTONOMYAND INDEPENDENCE
Cooperativesare autonomous,selfhelporganizations controlled bytheir members.
Cooperativesarevoluntary organizations,opentoall personswillingtoaccept responsibilitiesofmembership.
MEMBERS’ECONOMICPARTICIPATION
Membersofthecooperative contributefairlyandcontrolits capitaldemocratically.
DEMOCRATIC MEMBERCONTROL
Cooperativesarecontrolled bytheirmembers, who activelyparticipatein makingpolicy decisions.
CONCERNFOR COMMUNITY
Cooperativeswork forthesustainable developmentoftheir communitiesthrough policiesacceptedby theirmembers.
COOPERATION AMONGCOOPERATIVES
Cooperativesstrengthenthecoopmovementby workingtogether fromlocalto international structures.
As we reflect on 2024, we do so with deep pride and gratitude For the generations who built this cooperative from the ground up, and for those who continue to power it forward. Nueces Electric Cooperative (NEC) was founded on strong roots: faith, grit, and community. That same spirit continues to guide every decision we make and every mile we serve.
This past year reminded us of what it means to be part of something greater. In 2024, NEC crews drove more than 767,849 miles with zero safety incidents or accidents That number isn’t just impressive, it represents a culture of care, responsibility, and a commitment to our members and to one another
Just as those before us invested in NEC’s future, we continue that legacy by investing in our people. Through ongoing training and leadership development, our employees gain the tools they need to grow and lead. When our team is empowered, the cooperative becomes stronger from the inside out. Each department, Accounting, Engineering, IT, Compliance, and many more contributed to this progress Together, we honor tradition while building momentum for the future
financial stewardship that builds on our legacy
Through strategic investments and strong financial performance, NEC allocated more than $7 million to members’ capital credit accounts. In 2024, $2.1 million in patronage capital was returned to members. Additionally, NEC Co-op Energy refunded $3.75 million in Power Perks to those who remained loyal throughout the year
NEC maintains a healthy balance between a sound capital structure, debt, and equity to ensure long-term viability and strong financial standing. Over $4 million was invested in utility plant assets, reflecting a continued commitment to financial strength and operational efficiency. Since June 2022, the organization has upheld its long-standing policy of operating without incurring additional long-term debt.
NEC Co-op Energy ensured reasonable and competitive rates, which helped attract new members while sustaining the loyalty of those we already serve This continued focus on affordability and value has resulted in a strong and resilient membership base.
operational excellence grounded in tradition
Our Operations team upheld NEC’s legacy of dependable service, achieving a 2% overall increase in meters across its service territory, while NEC Co-op Energy recorded a 6.7% increase in ESID growth. Though outages increased slightly due to weather, the average outage duration decreased thanks to efficient crew dispatching and the speed and skill of our line crews Our teams participated in ongoing emergency training, reinforcing readiness and continuous improvement for potential weather events
The IT Department made meaningful upgrades as well, restructuring roles for efficiency, enhancing cybersecruity, and managing vendor relationships to protect member data and support our mission.
Our strength has always come from those who came before us and those who pave the way forward Every safe mile, every member served, and every decision made in 2024 reflects both the legacy we honor and the future we are building. Thank you for trusting us to serve. Together, we carry this mission forward.
IAN MENKING, NEC PRESIDENT
LEADERSHIP MESSAGE
ROM OUR NEC PRESIDENT AND EC CHIEF EXECUTIVE OFFICER
POWERED FOR THE FUTURE serving members. strengthening communities.
While operations and technology move us forward, our members remain the reason we do this work In 2024, NEC achieved a member satisfaction score of 97, significantly above the national average of 75. That level of trust doesn’t happen by chance it’s the result of consistent, attentive service built on relationships, not transactions.
Beyond electricity, our greatest service is showing up for you With dedication and heart, our employees volunteered more than 505 hours to support causes that uplift and strengthen our communities That’s more than double from the previous year. Whether it was mentoring students at local career days, rolling up their sleeves at Agape Bed Builds to provide beds for children in foster care, or simply lending a hand where help was needed most, our team showed what it truly means to live the cooperative spirit. These moments remind us that at the heart of our mission is something greater than electricity: a deep, shared commitment to being neighbors serving neighbors.
BUILTBYGENERATIONS
empowering the next generation
That same spirit of giving extends into our scholarship program and charitable efforts. In 2024, we awarded approximately 14 scholarships totaling $34,000 to local students pursuing everything from college degrees to careers in the trades. Whether it is in memory of past leaders or through year-round opportunities like our lineman college scholarships, we are proud to support the next generation of professionals in our communities
Through the generosity of members participating in Operation Round Up, Nueces Electric Charities contributed $152,700 to local nonprofits last year, including organizations like Mission of Mercy and FOCUS Foundation. Every cent rounded up goes right back into the community, multiplying impact through small, steady acts of kindness.
At NEC, giving is not a seasonal campaign It’s our culture It’s part of who we are and it’s how we ensure that what was built by generations before us continues to make a difference today. rooted in legacy. ready for what’s next.
As we close out 2024, we carry forward a deep and enduring sense of gratitude for our dedicated employees, our loyal members, and the communities that continue to place their trust in us Together, we kept the lights on in times of need, opened doors to educational opportunities, safeguarded our systems with stronger cybersecurity, and reinvested in the people who make our mission possible.
Each achievement of 2024 stands on the shoulders of those who came before us visionaries who laid the groundwork for a cooperative built to last Their commitment lives on through every mile we travel, every member we serve, and every challenge we rise to meet
Looking ahead, we know the future is not something we wait for, it is something we build together—one decision, one innovation, and one act of service at a time. NEC is more than just a utility provider, we are a community, rooted in legacy, powered by purpose, and ready for what comes next.
Gladys Lippincott District 7 Retail
Donald Wayne Herrman District 4
Brian Menking District 6
Dr. Rumaldo
David Rosse District 3
BRIAN MENKING
Mr. Menking has been an NEC member since February 1977 and joined the Board of Directors in April 2007. He holds the NRECA Credentialed Cooperative Director, Board Leadership, and Director Gold certifications. As current Board President, he serves on the Budget and Finance, Building Study, District Boundary, Education, and Governance Committees. An engineer and business owner, Mr Menking is also active in Immanuel Lutheran Church He believes a director’s key role is to provide strong leadership in a rapidly evolving market and brings over 40 years of leadership and business experience to the board. He lives in Alice with his wife, Ann, and has two children, Heidi and Christopher.
adys Allen-Lippincott has been an NEC member since 55 and has served on the Board since 1986, continuing family legacy of leadership She holds the NRECA edentialed Cooperative Director, Board Leadership, and rector Gold certifications Over the years, she has rved on numerous committees and played a key role in EC’s transition into retail competition. A retired anager of Texas Legal Support Services, Gladys is active several community organizations and is a proud andmother of twenty. She remains committed to holding the trust of NEC members and working toward ntinued growth and affordable service.
san Stewart was born in Alice and raised on her family’s ranch in McMullen County. A licensed vocational nurse, she spent 26 years with San Miguel Electric Cooperative, gaining valuable insight into cooperative operations and member service. Her connection to NEC runs deep her late mother, Maxine Stewart, served on the Board until 2019 Susan followed in her footsteps, first serving on NEC’s Community Involvement Committee, then being elected to the Board in 2022. She currently serves on several committees, including Strategic Planning, Governance, Annual Meeting, and Education, and chairs the Retail Market Committee. With decades of cooperative experience and a strong sense of service, Susan is proud to represent NEC members.
CANDIDATES FOR ELECTION
SHEET
UTILITY PLANT AT COST
Electric Plant in Service
Right of Use Lease Assets
Construction Work in Progress
ASSETS
Less: Accumulated Provision for Depreciation
other property and investments
Investments in Associated Organizations
Investments in Treasury Strips
Other Investments - Special Funds
current assets
Cash - General
Temporary Cash Investments
Accounts Receivable (Less allowance for uncollectibles of $543,182)
Accrued Unbilled Revenue
Materials and Supplies
Other Current and Accrued Assets
Total Current Assets
DEFERRED CHARGES
TOTAL ASSETS
EQUITIES
Memberships
Patronage Capital
Other Equities
Other Comprehensive Loss LONG-TERM DEBT
CoBank Mortgage Notes
CFC Mortgage Notes Less: Current Maturities other long-term liabilities
EQUITIES AND LIABILITIES
Post-Retirement Benefits Less: Current Maturities current liabilities
Current Maturities of Long-Term Debt
Current Maturities of Post-Retirement Benefits
Accounts Payable - Purchased Power
Accounts Payable - Other
Consumer Deposits
Accrued Taxes Accrued Interest Patronage Capital Payable
Accrued Employee Compensated Absences Other Current and Accrued Liabilities Total Current Liabilities deferred credits total equities and liabilities Right of Use Lease Liability 2024 562,113 163,031,331 3,473,008 167,066,452 42,291,858 124,774,594 57,612,645 31,481,423 769,462 89,863,530 3,069,595 2,858,084 3,581,234 2,503,854 2,270,750 594,376 14,877,893 7,650 229,523,667 129,478,452 11,761,698 141,652,857 11,818,356 52,472,954 (3,656,191) 61,031,407 223,503 3,656,191 29,743 4,903,885 1,576,749 2,604,262 380,941 321,991 797,144 1,177,978 445,017 15,893,901 10,721,999 229,523,667 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 396,288 $ $ (229,413) 642,120
TREASURER’S REPORT
STATEMENTS OF INCOME AND PATRONAGE CAPITAL
operating revenues
Residential
Small Commercial and Industrial
Large Commercial and Industrial
Public Street and Highway
Unbilled Revenue
Late Payment Penalties
Rent from Electric Properties
Other Operating Revenues
Naval Base Net Margin (Loss)
Total Operating Revenues operating expenses
Purchased Power Distribution - Operation Distribution - Maintenance
Consumer Accounts
Customer Service and Information
Administrative and General Depreciation
Taxes
Other Interest
Other Deductions
Total Operating Expenses
OPERATING MARGINS - BEFORE FIXED CHARGES
FIXED CHARGES operating margins - after fixed charges
Interest on Long-Term Debt
G&T Captial Credits
Captial Credits
margins
Income
Nonoperating Income Gain on Disposition of Property net margins comprehensive income (loss)
Current Year APBO Valuation comprehensive income Less: Post-Retirment Benefit Adjustments patronage capital - beginning of year
Patronage Captial Retired
Unbilled Revenue Transferred to Other Equitites Nonoperating Margins Transferred to Other Equities
patronage capital - end of year 121,128,048 34,695 2,888,659 2024 6,991,858 13,138,530 72,612,340 $ 968,301 173,977 794,270 299,785 2,143,167 (100,817) 97,021,411 62,072,347 1,852,535 4,111,880 5,675,059 472,873 7,148,227 4,714,225 1,564,474 114,533 314,774 88,040,927 8,980,484 6,091,825 2,964,548 1,103,111 4,067,659 10,159,484 52,410 1,488,470 1,575,575 11,735,059 11,758,424 (23,365) (2,125,410) 316,330 (1,575,575) 129,478,452 $ $ $ $ $ $ $ $ $ $ $ $ $ $ 23,365
767,849 Miles
ROOTED IN SERVICE, DRIVEN BY PURPOSE.
At NEC, volunteering isn’t just something we do—it’s part of who we are. Our employees proudly carry forward a tradition of service that has been built by generations before them. By giving their time and talents, they’re creating stronger communities today and helping power a better tomorrow.
MINUTES OF THE ANNUAL MEETING
CALL TO ORDER
The 86th Annual Meeting was held October 10, 2024, at the Richard M. Borchard Regional Fairgrounds. President Brian Menking called the meeting to order at 7:00pm. Director David Rosse, Secretary/Treasurer certified that a quorum was present Alicia Carlisle from Immanuel Lutheran Church of Alice delivered the invocation
RECOGNITION OF YOUTH TOUR DELEGATES
Vice President, Dr. Rumaldo Juarez introduced the 2024 Washington D.C. Youth Tour Delegates who also received a $1000 college scholarship
RECOGNITION OF HALO-FLIGHT PROGRAM
President, Brian Menking recognized HALO-Flight, and their Guardian Program made available to NEC members for emergency air ambulance service HALO-Flight also received grant support from Nueces Electric Charities Community Grants
RECOGNITION OF EMPLOYEES
President, Brian Menking recognized all NEC employees for their dedicated service
READING OF PROOF OF MAILING OF MEETING NOTICE
President Menking stated that the meeting notice was published in the October 2024 Texas Co-op Power and mailed to members on September 30, 2024
MINUTES OF 2023 ANNUAL MEETING
President, Brian Menking stated that the minutes of the 2023 annual meeting had been provided in the October 2024 issue of the Texas Co-op Power Magazine and the Annual Report Booklet A motion was made, seconded, to dispense with the reading of the minutes and accept as printed. Motion carried.
TREASURER’S REPORT
President, Brian Menking stated that the Treasurer’s Report had been provided in the October 2024 issue of the Texas Co-op Power Magazine and the Annual Report booklet. A motion was made, seconded, to dispense with the reading of the Treasurer’s Report and accept as printed. Motion carried.
PRESIDENT AND CEO REPORTS
A video of staff and Board President Brian Menking was shown to our membership in attendance highlighting key events from 2024.
ELECTION OF DIRECTORS
With David Rosse being the only nomination for the position of Director for District 3, President Brian Menking, serving as chair, declared David Rosse elected by acclamation to a three-year term to District 3, in accordance with Article III, Section 6 of the Bylaws
ADJOURNMENT
There being no further business, a motion was made and seconded to adjourn the meeting at 7:32 p.m. Motion carried.
CLOSING ANNOUNCEMENTS
SURVEY COMPLETION
A reminder was made to fill out the survey inside the registration gift bag or if a digital survey is preferred a QR code was made available at tables and around the building
NEC RETAIL MEMBER REFERRAL PROGRAM WINNERS
Chief Retail Officer Frank Wilson announced the NEC Co-op Energy Referral Program winners. NEC Co-op Energy member Kang Wang received a $500 electric bill credit for first place and Derek Williams received a $250 electric bill credit for runner up
PRIZE DRAWINGS
Prize drawings were held after referral program winners were announced
David Rosse, Secretary - Treasurer
Approved: Brian Menking, President
NUECES ELECTRIC CHARITIES
2024 2024 GRANT RECIPIENTS GRANT RECIPIENTS
AGAPE RANCH
AMERICAN RED CROSS
BEN BOLT VOLUNTEER FIRE DEPARTMENT
BIG BROTHERS BIG SISTERS OF TEXAS COASTAL BEND
BILLIE TRIMBLE CHANDLER ARTS FOUNDATION
CALALLEN EDUCATION FOUNDATION
CAMP ARANZAZU
CASA OF KLEBERG COUNTY
CASA OF THE COASTAL BEND
CORPUS CHRISTI SYMPHONY SOCIETY
CHILDRENS ADVOCACY CENTER OF THE COASTAL BEND
CHILDRENS COALITION OF ARANSAS COUNTY
COASTAL BEND COMMUNITY FOUNDATION
CORPUS CHRISTI EDUCATION FOUNDATION
CORPUS CHRISTI METRO MINISTRIES
CORPUS CHRISTI PREGNANCY CENTER
EDUCATING CHILDREN’S FUTURE COMMUNITY CENTER
FAMILY COUNSELING SERVICE
FANNIE BLUNTZER NASON RENEWAL CENTER
FOCUS FOUNDATION
FOSTER ANGELS OF SOUTH TEXAS FOUNDATION
GULF COAST HUMANE SOCIETY
HALO FLIGHT
MISSION OF MERCY
NUECES COUNTY 4H TRAP & SKEET
NUECES COUNTY JUVENILE JUSTICE VOLUNTEERS INC
PROSPERA HOUSING & COMMUNITY SERVICES
REAL INC.
SOUTH TEXAS LIGHTHOUSE FOR THE BLIND
SOUTH TEXAS MISSION OF MERCY
STCH MINISTRIES
TENNIS SUCCESS
TEXAS STATE MUSEUM OF ASIAN CULTURES
THE JUNIOR LEAGUE OF CORPUS CHRISTI
TULOSO MIDWAY EDUCATION FOUNDATION
WALK WITH PRIDE FOUNDATION
WOMEN'S SHELTER OF SOUTH TEXAS DBA PURPLE DOOR
YOUTH ODYSSEY, INC.
YWCA CORPUS CHRISTI
Giving back to the communities we serve is a core part of who we are at NEC. Through NEC’s Operation Round-Up program, the co-op and our members are able to make a big impact with small change By rounding up your electric bill to the nearest dollar, you can contribute no more than 99 cents each month to support local organizations and families in need.
This program proves that small change adds up in a big way Thanks to your generosity, Nueces Electric Cooperative awarded to 39 community charities in 2024. NEC continues to invest in the people and organizations that keep our communities strong Together, we are building a brighter, more connected future that will last for generations to come
$152,700
START HERE START HERE
EMERY GRIGG
SANTA GERTRUDIS
ACADEMY
ALEXANDER
CADENA
2026 APPLICATIONS ARE NOW OPEN! DEADLINE TO APPLY IS FRIDAY, JANUARY 3OTH, 2026 SCAN FOR MORE INFORMATION.
NEC is proud to invest in the next generation of leaders. Each year, we sponsor two local high school juniors, who are dependents of NEC members, on the Government-in-Action Youth Leadership Tour. This all-expense-paid trip gives students the chance to explore historic sites, meet U.S. congressional leaders, and learn about electric cooperatives. Youth Tour participants also receive a $1,000 scholarship if they attend an accredited Texas college or university.
YOUTH LEADERSHIP TOUR
2024 2 0 2 4
AGUA DULCE HIGH SCHOOL
12 12 HIGH SCHOOL SENIORS
9 9 $32,000 $32,000 FROM LOCAL HIGH SCHOOLS AWARDED A TOTAL OF
Nueces Electric Cooperative proudly invests in the next generation through the Ramiro De La Paz and John L. Sims scholarship program. Funded by unclaimed capital credits, these scholarships help local high school seniors who are dependents of NEC members that plan on pursuing higher education at Texas universities, college, or trade schools.
Joshua Garcia Julianna Garcia Ian Mayberry Sarah Dupont
Riley Unterbrink Wyatt Hagedorn Sascha Stelker Kaylee Larson
Isabella Gonzales Rani Bhakta Kate Kennedy Sierra Gonzalez
SAVE A WATT
AN ENERGY EFFICIENCY & CONSERVATION EVENT
SCHOLARSHIPS SCHOLARSHIPS
JOIN
US!
Learn how to save on your monthly electric bill from NEC professionals! Learn how to save your monthly electric bill from NEC professionals!
DOOR PRIZES
Nueces Electric Cooperative - HQ Office 14353 Cooperative Ave, Robstown, TX November 1, 2025 9 am - 12 pm
YOUTH TOUR YOUTH TOUR
We are proud to support the next generation of local students. Each year, we award scholarships to graduating seniors who are dependents of our members and plan to pursue higher education at accredited Texas universities, two-year colleges, or line work programs
Deadline to apply is January 30, 2026!
SCAN TO APPLY FOR A SCHOLARSHIP!
NEC proudly invests in tomorrow’s leaders by sponsoring high school juniors on an all-expense-paid trip to Washington, D.C. This unique experience is open to dependents of NEC members and includes a $1,000 scholarship for those who pursue higher education at a Texas college or university.
Deadline to apply is February 10, 2026!
SCAN TO APPLY FOR YOUTH TOUR!