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Nonprofiteer
← SOUTHWEST ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by SOUTHWEST ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$81,663,498
Total expenses
$75,261,420
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$73,750,510
Investment income
$733,365
Other revenue
$7,179,623
Total assets, end of year
$206,213,219
Total liabilities, end of year
$65,887,743
Net assets or fund balances, end of year
$140,325,476
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRICITY SALES

    total $73,750,510 · related or exempt $73,750,510

  • 3 · Investment income

    total $569,098 · related or exempt $525,470 · excluded $43,628

  • 6a · Gross rents

    real property $594,691

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $594,691

  • 6d · Net rental income or loss

    total $594,691 · related or exempt $559,740 · unrelated business $34,951

  • 7a · Gross sales of assets other than inventory

    other assets $213,300

  • 7b · Less cost or other basis and sales expenses

    other assets $49,033

  • 7c · Gain or loss

    other assets $164,267

  • 7d · Net gain or loss

    total $164,267 · related or exempt $164,267

  • 10a · Gross sales of inventory

    $369,396

  • 10b · Cost of goods sold

    $273,537

  • 10c · Net income from sales of inventory

    total $95,859 · unrelated business $95,859

  • 11a · Other revenue: CAPITAL CREDITS

    total $4,788,260 · related or exempt $4,788,260

  • 11b · Other revenue: OTHER REVENUE RELATED OR EXEMPT

    total $1,020,476 · related or exempt $1,020,476

  • 11c · Other revenue: REVENE-SW FIBER COMM, LLC

    total $680,337 · unrelated business $680,337

  • 11e · Other revenue, total

    $6,489,073

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $651,480

  • 7 · Other salaries and wages

    total $5,817,919

  • 8 · Pension plan contributions

    total $978,377

  • 9 · Other employee benefits

    total $1,181,802

  • 10 · Payroll taxes

    total $415,861

  • 11b · Fees: legal

    total $9,634

  • 11c · Fees: accounting

    total $18,270

  • 12 · Advertising and promotion

    total $179,679

  • 13 · Office expenses

    total $211,204

  • 16 · Occupancy

    total $184,713

  • 17 · Travel

    total $171,443

  • 19 · Conferences, conventions and meetings

    total $128,077

  • 20 · Interest

    total $1,306,994

  • 22 · Depreciation, depletion and amortization

    total $7,666,580

  • 24a · Other expenses: PURCHASED POWER

    total $45,154,632

  • 24b · Other expenses: DISTRIB OPERATIONS

    total $6,453,800

  • 24c · Other expenses: DISTRIB MAINTENANCE

    total $2,918,312

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $859,740

  • 24e · All other expenses

    total $952,903

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,150 · end of year $4,150

  • 2 · Savings and temporary cash investments

    beginning of year $3,096,986 · end of year $1,336,214

  • 4 · Accounts receivable

    beginning of year $5,081,111 · end of year $6,084,167

  • 7 · Other notes and loans receivable

    beginning of year $7,934 · end of year $7,934

  • 8 · Inventories for sale or use

    beginning of year $3,319,558 · end of year $3,086,701

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,051,053 · end of year $4,093,479

  • 10a · Land, buildings and equipment: cost or other basis

    $234,106,582

  • 10b · Land, buildings and equipment: accumulated depreciation

    $89,076,727

  • 10c · Land, buildings and equipment, net

    beginning of year $140,045,199 · end of year $145,029,855

  • 12 · Investments: other securities

    beginning of year $43,997,410 · end of year $46,570,719

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,816,447 · end of year $12,856,800

  • 23 · Secured mortgages and notes payable

    beginning of year $46,935,624 · end of year $45,301,338

  • 25 · Other liabilities

    beginning of year $9,106,114 · end of year $7,729,605

  • 29 · Capital stock, trust principal or current funds

    beginning of year $14,358,671 · end of year $14,698,758

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $120,386,545 · end of year $125,626,718

Mission and programs · 2024

Mission

SOUTHWEST ELECTRIC COOPERATIVE CAME INTO EXISTENCE IN OCTOBER OF 1939 AND HAS BEEN PROVIDING ELECTRICAL SERVICE TO RURAL MEMBERS EVER SINCE. SWEC OWNS 5,565 MILES OF LINE AND SERVES JUST OVER 44,698 METERS IN ELEVEN COUNTIES. SWEC HAS THREE DISTRICT OFFICES. ONE OFFICE IS LOCATED PRESTON, MISSOURI AND A SECOND IS LOCATED JUST NORTH OF SPRINGFIELD, MISSOURI. THE THIRD OFFICE IS SITUATED AT THE JUNCTION OF J AND 7 HIGHWAYS IN CAMDEN COUNTY. SOUTHWEST ELECTRIC IS DEDICATED TO PROVIDING ITS MEMBERS WITH THE BEST SERVICE POSSIBLE.

Activities or mission (Part I)

TO PROVIDE ELECTRIC SERVICE

  • PROVIDE ELECTRIC SERVICE TO OVER 40,000 METERS

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jack Bybee

    SECRETARY/TREASURER

    Total calculated
    $24,855
    From this org
    $2,275
    From related orgs
    $0
    Other
    $22,580
    Hours/week
    9.33

  • Lowell Hill

    DIRECTOR

    Total calculated
    $25,153
    From this org
    $2,575
    From related orgs
    $0
    Other
    $22,578
    Hours/week
    14.19

  • Chris Jewell

    DIRECTOR

    Total calculated
    $29,547
    From this org
    $2,775
    From related orgs
    $0
    Other
    $26,772
    Hours/week
    3.92

  • Mike Frieze

    DIRECTOR

    Total calculated
    $24,828
    From this org
    $3,700
    From related orgs
    $0
    Other
    $21,128
    Hours/week
    1.73

  • Ed Dority

    DIRECTOR

    Total calculated
    $15,467
    From this org
    $3,425
    From related orgs
    $0
    Other
    $12,042
    Hours/week
    12.29

  • Nancy Erickson

    PRESIDENT

    Total calculated
    $29,722
    From this org
    $2,950
    From related orgs
    $0
    Other
    $26,772
    Hours/week
    9.88

  • Daniel Mauss

    VICE PRESIDENT

    Total calculated
    $5,406
    From this org
    $5,400
    From related orgs
    $0
    Other
    $6
    Hours/week
    5.38

  • Carl Button

    DIRECTOR

    Total calculated
    $24,703
    From this org
    $3,575
    From related orgs
    $0
    Other
    $21,128
    Hours/week
    4.35

  • Barry Edwards

    ASST. SECRETARY/TREASURER

    Total calculated
    $25,728
    From this org
    $4,600
    From related orgs
    $0
    Other
    $21,128
    Hours/week
    5.58

  • James Ashworth

    CEO/GENERAL MANAGER

    Total calculated
    $446,072
    From this org
    $338,873
    From related orgs
    $0
    Other
    $107,199
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $338,873
    Bonus
    $0
    Other
    $0
    Deferred
    $90,578
    Nontaxable benefits
    $16,621
    Filer's total
    $446,072

  • Jason Carver

    CHIEF ENGINEER

    Total calculated
    $245,252
    From this org
    $179,858
    From related orgs
    $0
    Other
    $65,394
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,858
    Bonus
    $0
    Other
    $0
    Deferred
    $48,773
    Nontaxable benefits
    $16,621
    Filer's total
    $245,252

  • Leslie Cantrell

    MANAGER, FINANCE AND ACC

    Total calculated
    $229,728
    From this org
    $162,870
    From related orgs
    $0
    Other
    $66,858
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $162,870
    Bonus
    $0
    Other
    $0
    Deferred
    $44,592
    Nontaxable benefits
    $22,266
    Filer's total
    $229,728

  • Joshua Wolfe

    OPERATIONS MANAGER

    Total calculated
    $220,413
    From this org
    $156,342
    From related orgs
    $0
    Other
    $64,071
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,342
    Bonus
    $0
    Other
    $0
    Deferred
    $41,805
    Nontaxable benefits
    $22,266
    Filer's total
    $220,413

  • Alva Rains

    JOURNEYMAN

    Total calculated
    $190,687
    From this org
    $146,322
    From related orgs
    $0
    Other
    $44,365
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,322
    Bonus
    $0
    Other
    $0
    Deferred
    $27,744
    Nontaxable benefits
    $16,621
    Filer's total
    $190,687

  • Benjamin Gerke

    JOURNEYMAN

    Total calculated
    $195,689
    From this org
    $145,679
    From related orgs
    $0
    Other
    $50,010
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,679
    Bonus
    $0
    Other
    $0
    Deferred
    $27,744
    Nontaxable benefits
    $22,266
    Filer's total
    $195,689

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOUTHWEST FIBER COMMUNICATIONS LLC

    FIBER OPTICS · MO · income $100,511 · assets $821,270

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SHO-ME POWER ELECTRIC COOPERATIVE

    C · UTILITIES · MO

  • KAMO ELECTRIC COOPERATIVE INC

    C · UTILITIES · OK

Provenance

Return type
form_990
Tax year
2024
Filed
2 September 2025
IRS schema version
2024v5.2
Source object
202502839349300130

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