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Nonprofiteer
← SOUTHEASTERN ILLINOIS ELECTRIC

Form 990 for tax year 2023

Filed by SOUTHEASTERN ILLINOIS ELECTRIC.

Totals

Total revenue
$93,143,370
Total expenses
$93,143,370
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$92,993,189
Investment income
$109,525
Other revenue
$40,656
Total assets, end of year
$226,470,638
Total liabilities, end of year
$87,846,076
Net assets or fund balances, end of year
$138,624,562
Program services expenses (Part IX)
$93,143,370
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$93,143,370

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: SALE OF ELECTRIC ENERGY

    total $86,122,241 · related or exempt $86,122,241

  • 2b · Program service revenue: OTHER REVENUES

    total $4,021,330 · related or exempt $4,021,330

  • 2c · Program service revenue: CAPITAL CREDITS REVENUE

    total $2,849,618 · related or exempt $2,849,618

  • 3 · Investment income

    total $109,525 · related or exempt $109,525

  • 11a · Other revenue: WATER HEATERS

    total $35,704 · related or exempt $35,704

  • 11b · Other revenue: SOUTHERN SERVICES LLC

    total $4,952 · unrelated business $4,952

  • 11e · Other revenue, total

    $40,656

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,077,257 · program services $7,077,257

  • 5 · Compensation of officers, directors and key employees

    total $895,947 · program services $895,947

  • 7 · Other salaries and wages

    total $7,108,538 · program services $7,108,538

  • 8 · Pension plan contributions

    total $3,383,541 · program services $3,383,541

  • 9 · Other employee benefits

    total $1,540,472 · program services $1,540,472

  • 10 · Payroll taxes

    total $594,030 · program services $594,030

  • 11b · Fees: legal

    total $88,085 · program services $88,085

  • 11c · Fees: accounting

    total $102,070 · program services $102,070

  • 20 · Interest

    total $3,129,615 · program services $3,129,615

  • 22 · Depreciation, depletion and amortization

    total $5,828,636 · program services $5,828,636

  • 24a · Other expenses: COST OF POWER

    total $61,649,293 · program services $61,649,293

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $5,683,957 · program services $5,683,957

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $1,620,494 · program services $1,620,494

  • 24d · Other expenses: ADMINISTRATION & GENERA

    total $1,601,671 · program services $1,601,671

  • 24e · All other expenses

    total -$7,160,236 · program services -$7,160,236

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,032,969 · end of year $651,552

  • 4 · Accounts receivable

    beginning of year $3,663,752 · end of year $3,913,786

  • 8 · Inventories for sale or use

    beginning of year $2,420,239 · end of year $2,450,859

  • 9 · Prepaid expenses and deferred charges

    beginning of year $314,087 · end of year $376,021

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

    $212,892,944

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

    $69,353,625

  • 10c · Land, buildings and equipment, net

    beginning of year $140,631,304 · end of year $143,539,319

  • 13 · Investments: program-related

    beginning of year $69,804,897 · end of year $72,469,880

  • 15 · Other assets

    beginning of year $3,239,985 · end of year $3,069,221

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,031,064 · end of year $5,378,051

  • 23 · Secured mortgages and notes payable

    beginning of year $60,562,379 · end of year $67,745,207

  • 25 · Other liabilities

    beginning of year $25,809,414 · end of year $14,722,818

  • 29 · Capital stock, trust principal or current funds

    beginning of year $93,790 · end of year $93,790

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

    beginning of year $826,953 · end of year $6,187,179

  • 31 · Retained earnings, endowment or other funds

    beginning of year $126,783,633 · end of year $132,343,593

Mission and programs · 2023

Mission

DISTRIBUTION SALES OF ELECTRICITY TO MEMBER-OWNERS ON A PATRONAGE BASIS.

Activities or mission (Part I)

DISTRIBUTION SALES OF ELECTRICITY TO APPROX 25,000 MEMBER-OWNERS ON A PATRONAGE BASIS.

  • PROVIDE ELECTRIC SERVICE TO MEMBER-OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF 25,013 PER MONTH.

    Expenses $93,143,370 · Revenue $92,957,485

As filed on the 2023 return.

Listed in Part VII

  • Dale Schierbaum

    CHAIRMAN

    Total calculated
    $13,010
    From this org
    $13,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.81

  • Shane Croslin

    VICE CHAIRMAN

    Total calculated
    $7,510
    From this org
    $7,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.02

  • Pamela Bramlet

    SECRETARY/TREASURER

    Total calculated
    $14,510
    From this org
    $14,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.52

  • Tiffany Morhet

    TRUSTEE

    Total calculated
    $9,510
    From this org
    $9,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Jamie Scherrer

    TRUSTEE

    Total calculated
    $9,510
    From this org
    $9,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.97

  • Richard Rister

    TRUSTEE

    Total calculated
    $12,510
    From this org
    $12,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.19

  • Gary Hise

    TRUSTEE

    Total calculated
    $7,006
    From this org
    $7,006
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.35

  • Brian Joyner

    TRUSTEE

    Total calculated
    $8,510
    From this org
    $8,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.95

  • Joseph Marlo

    TRUSTEE

    Total calculated
    $21,310
    From this org
    $21,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.98

  • Victor Knight

    TRUSTEE

    Total calculated
    $8,006
    From this org
    $8,006
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.15

  • Tim Spivey

    TRUSTEE

    Total calculated
    $7,510
    From this org
    $7,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.46

  • Dustin Tripp

    PRESIDENT & CEO

    Total calculated
    $591,114
    From this org
    $358,091
    From related orgs
    $0
    Other
    $233,023
    Hours/week
    40.77

    Schedule J breakdown matched by us

    Base
    $354,746
    Bonus
    $0
    Other
    $3,345
    Deferred
    $181,707
    Nontaxable benefits
    $51,316
    Filer's total
    $591,114

  • Jeffrey Neuman

    OPERATIONS MANAGER

    Total calculated
    $319,264
    From this org
    $182,101
    From related orgs
    $0
    Other
    $137,163
    Hours/week
    48.46

    Schedule J breakdown matched by us

    Base
    $180,578
    Bonus
    $0
    Other
    $1,523
    Deferred
    $96,483
    Nontaxable benefits
    $40,680
    Filer's total
    $319,264

  • Jeffrey Crisp

    ROW & FLEET MANAGER

    Total calculated
    $318,941
    From this org
    $175,046
    From related orgs
    $0
    Other
    $143,895
    Hours/week
    42.31

    Schedule J breakdown matched by us

    Base
    $171,579
    Bonus
    $0
    Other
    $3,467
    Deferred
    $103,730
    Nontaxable benefits
    $40,165
    Filer's total
    $318,941

  • Donald Basinger

    UTILITY SERVICEMAN

    Total calculated
    $227,499
    From this org
    $135,409
    From related orgs
    $0
    Other
    $92,090
    Hours/week
    50.39

    Schedule J breakdown matched by us

    Base
    $135,409
    Bonus
    $0
    Other
    $0
    Deferred
    $61,168
    Nontaxable benefits
    $30,922
    Filer's total
    $227,499

  • Corey Lewis

    LINE FOREMAN

    Total calculated
    $210,080
    From this org
    $132,033
    From related orgs
    $0
    Other
    $78,047
    Hours/week
    45.52

    Schedule J breakdown matched by us

    Base
    $132,033
    Bonus
    $0
    Other
    $0
    Deferred
    $45,540
    Nontaxable benefits
    $32,507
    Filer's total
    $210,080

  • Jonathan Hays

    LINE FOREMAN

    Total calculated
    $223,322
    From this org
    $131,384
    From related orgs
    $0
    Other
    $91,938
    Hours/week
    44.46

    Schedule J breakdown matched by us

    Base
    $131,384
    Bonus
    $0
    Other
    $0
    Deferred
    $62,498
    Nontaxable benefits
    $29,440
    Filer's total
    $223,322

  • Anthony Jordan

    LINE FOREMAN

    Total calculated
    $247,836
    From this org
    $129,272
    From related orgs
    $0
    Other
    $118,564
    Hours/week
    46.05

    Schedule J breakdown matched by us

    Base
    $129,272
    Bonus
    $0
    Other
    $0
    Deferred
    $82,400
    Nontaxable benefits
    $36,164
    Filer's total
    $247,836

  • Travis Jones

    ENGINEERING & PURCHASING MANAGER

    Total calculated
    $220,744
    From this org
    $128,371
    From related orgs
    $0
    Other
    $92,373
    Hours/week
    41.54

    Schedule J breakdown matched by us

    Base
    $124,442
    Bonus
    $0
    Other
    $3,929
    Deferred
    $62,498
    Nontaxable benefits
    $29,875
    Filer's total
    $220,744

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

  • 3 · Compensation survey or study
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202433139349303808

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