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Nonprofiteer
← SOUTHERN PINE ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by SOUTHERN PINE ELECTRIC COOPERATIVE.

Totals

Total revenue
$57,265,989
Total expenses
$57,265,989
Contributions and grants received
$0
Grants paid
$20,000
Program service revenue
$56,887,145
Investment income
$55,714
Other revenue
$323,130
Total assets, end of year
$105,894,035
Total liabilities, end of year
$19,964,233
Net assets or fund balances, end of year
$85,929,802
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: Sales of Electricity

    total $56,107,703 · related or exempt $56,107,703

  • 2b · Program service revenue: Patronage Capital

    total $779,442 · related or exempt $779,442

  • 3 · Investment income

    total $55,714 · excluded $55,714

  • 6a · Gross rents

    personal property $323,130

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $323,130

  • 6d · Net rental income or loss

    total $323,130 · excluded $323,130

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000

  • 4 · Benefits paid to or for members

    total $2,925,493

  • 5 · Compensation of officers, directors and key employees

    total $927,235

  • 20 · Interest

    total $127,832

  • 22 · Depreciation, depletion and amortization

    total $2,917,536

  • 24a · Other expenses: Cost of Power

    total $38,864,919

  • 24b · Other expenses: Dist Exp - Maintenance

    total $4,700,711

  • 24c · Other expenses: Dist Exp - Operations

    total $2,921,868

  • 24d · Other expenses: Customer Accounts Exp

    total $1,773,260

  • 24e · All other expenses

    total $2,087,135

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $900,773 · end of year $1,649,326

  • 4 · Accounts receivable

    beginning of year $6,146,937 · end of year $5,830,892

  • 8 · Inventories for sale or use

    beginning of year $836,835 · end of year $944,148

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,117 · end of year $14,093

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

    $105,607,576

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

    $34,127,627

  • 10c · Land, buildings and equipment, net

    beginning of year $68,693,308 · end of year $71,479,949

  • 12 · Investments: other securities

    beginning of year $1,000 · end of year $1,000

  • 13 · Investments: program-related

    beginning of year $25,322,083 · end of year $25,974,627

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,462,705 · end of year $6,397,926

  • 23 · Secured mortgages and notes payable

    beginning of year $3,251,023 · end of year $2,825,756

  • 25 · Other liabilities

    beginning of year $18,719,748 · end of year $10,740,551

  • 29 · Capital stock, trust principal or current funds

    beginning of year $103,504 · end of year $102,974

  • 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 $74,373,073 · end of year $85,826,828

Mission and programs · 2022

Mission

Southern Pine Electric Cooperative is a nonprofit organization that exists to provide reliable electric service to its members at the lowest possible cost.

Activities or mission (Part I)

To provide electric utility service to cooperative members.

  • Utilizing 3,425 miles of electric distribution lines, Southern Pine Electric Cooperative, Inc. provided 474,645,560 Kilowatt-Hours of electric energy to approximately 16,100 residential, commercial, and industrial members located in South Alabama.

As filed on the 2022 return.

Listed in Part VII

  • Allen Lang

    Trustee

    Total calculated
    $30,738
    From this org
    $30,738
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Dwight Maloy

    Trustee

    Total calculated
    $27,154
    From this org
    $27,154
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Lynn Powell

    Trustee

    Total calculated
    $25,995
    From this org
    $25,995
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.3

  • David Cook Jr

    Trustee

    Total calculated
    $28,584
    From this org
    $28,584
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Bobby Ballard

    Trustee

    Total calculated
    $13,782
    From this org
    $13,782
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • Hilbert Hall

    Trustee

    Total calculated
    $26,866
    From this org
    $26,866
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Keith Pugh

    Trustee

    Total calculated
    $28,593
    From this org
    $28,593
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Scotty White

    Trustee

    Total calculated
    $8,836
    From this org
    $8,836
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Rod Higdon

    Trustee

    Total calculated
    $28,881
    From this org
    $28,881
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Vince Johnson

    Chief Executive Officer

    Total calculated
    $304,994
    From this org
    $231,240
    From related orgs
    $0
    Other
    $73,754
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $231,240
    Bonus
    $0
    Other
    $0
    Deferred
    $52,296
    Nontaxable benefits
    $21,458
    Filer's total
    $304,994

  • Jason Jackson

    Chief Financial Officer

    Total calculated
    $185,832
    From this org
    $134,318
    From related orgs
    $0
    Other
    $51,514
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $134,318
    Bonus
    $0
    Other
    $0
    Deferred
    $30,056
    Nontaxable benefits
    $21,458
    Filer's total
    $185,832

  • Robert Cotten

    Superintendent of Operatio

    Total calculated
    $216,980
    From this org
    $159,334
    From related orgs
    $0
    Other
    $57,646
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,334
    Bonus
    $0
    Other
    $0
    Deferred
    $36,188
    Nontaxable benefits
    $21,458
    Filer's total
    $216,980

  • Johnny Jordan

    District Foreman

    Total calculated
    $194,564
    From this org
    $148,229
    From related orgs
    $0
    Other
    $46,335
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,229
    Bonus
    $0
    Other
    $0
    Deferred
    $24,877
    Nontaxable benefits
    $21,458
    Filer's total
    $194,564

  • Rodney Hildreth

    District Foreman

    Total calculated
    $172,656
    From this org
    $130,016
    From related orgs
    $0
    Other
    $42,640
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $130,016
    Bonus
    $0
    Other
    $0
    Deferred
    $21,182
    Nontaxable benefits
    $21,458
    Filer's total
    $172,656

  • Brian Richburg

    Construction Foreman

    Total calculated
    $169,072
    From this org
    $123,051
    From related orgs
    $0
    Other
    $46,021
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $123,051
    Bonus
    $0
    Other
    $0
    Deferred
    $24,563
    Nontaxable benefits
    $21,458
    Filer's total
    $169,072

  • Jeff Kirkland

    Director of Member Svcs

    Total calculated
    $167,209
    From this org
    $119,371
    From related orgs
    $0
    Other
    $47,838
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $119,371
    Bonus
    $0
    Other
    $0
    Deferred
    $26,380
    Nontaxable benefits
    $21,458
    Filer's total
    $167,209

  • Phillip Carter

    Lineman I

    Total calculated
    $165,692
    From this org
    $125,470
    From related orgs
    $0
    Other
    $40,222
    Hours/week
    57

    Schedule J breakdown matched by us

    Base
    $125,470
    Bonus
    $0
    Other
    $0
    Deferred
    $18,764
    Nontaxable benefits
    $21,458
    Filer's total
    $165,692

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 committee
  • 3 · Form 990 of other organizations
  • 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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

Related corporations and trusts

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

  • Southern Pine Services Inc

    C · Propane Sales · AL · 100% owned · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
8 August 2023
IRS schema version
2022v5.0
Source object
202302289349301500

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