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Nonprofiteer
← SATILLA RURAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by SATILLA RURAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$140,969,105
Total expenses
$140,969,105
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$137,712,945
Investment income
$586,950
Other revenue
$2,669,210
Total assets, end of year
$349,753,639
Total liabilities, end of year
$213,963,754
Net assets or fund balances, end of year
$135,789,885
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$140,969,105

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 ELECTRICITY

    total $135,917,284 · related or exempt $135,917,284

  • 2b · Program service revenue: POLE RENTAL

    total $1,088,823 · excluded $1,088,823

  • 2c · Program service revenue: ELECTRIC SYSTEM ACCESS REVENUE

    total $706,838 · excluded $706,838

  • 3 · Investment income

    total $384,778 · excluded $384,778

  • 5 · Royalties

    total $258,560 · related or exempt $258,560

  • 7a · Gross sales of assets other than inventory

    other assets $214,536

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

    other assets $12,364

  • 7c · Gain or loss

    other assets $202,172

  • 7d · Net gain or loss

    total $202,172 · related or exempt $202,172

  • 11a · Other revenue: CAPITAL CREDIT ALLOCATIONS

    total $2,381,995 · excluded $2,381,995

  • 11b · Other revenue: OTHER

    total $28,655 · related or exempt $28,655

  • 11e · Other revenue, total

    $2,410,650

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,972,765

  • 5 · Compensation of officers, directors and key employees

    total $2,080,655

  • 20 · Interest

    total $5,507,893

  • 22 · Depreciation, depletion and amortization

    total $8,373,385

  • 24a · Other expenses: COST OF PURCHASED POWER

    total $96,016,078

  • 24b · Other expenses: DISTR EXP - MAINTENANCE

    total $9,567,256

  • 24c · Other expenses: DISTR EXP - OPERATIONS

    total $6,734,212

  • 24d · Other expenses: CONSUMER ACCOUNTS EXPEN

    total $5,745,465

  • 24e · All other expenses

    total $2,971,396

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $7,004,390 · end of year $22,259,541

  • 4 · Accounts receivable

    beginning of year $4,421,959 · end of year $4,826,702

  • 8 · Inventories for sale or use

    beginning of year $4,494,296 · end of year $13,624,823

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,046,111 · end of year $3,068,731

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

    $295,606,357

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

    $55,681,742

  • 10c · Land, buildings and equipment, net

    beginning of year $196,713,702 · end of year $239,924,615

  • 13 · Investments: program-related

    beginning of year $43,731,751 · end of year $45,734,671

  • 15 · Other assets

    beginning of year $9,304,416 · end of year $20,314,556

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,696,112 · end of year $17,499,118

  • 23 · Secured mortgages and notes payable

    beginning of year $113,078,549 · end of year $174,939,781

  • 25 · Other liabilities

    beginning of year $25,576,232 · end of year $21,524,855

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $120,365,732 · end of year $135,789,885

Mission and programs · 2022

Mission

TO BE RECOGNIZED AS A COMPANY HAVING THE POWER TO MEET THE CHANGING NEEDS AND DEMANDS OF OUR CUSTOMERS BY PROVIDING SUPERIOR ENERGY AND NON-ENERGY RELATED PRODUCTS AND SERVICES.

  • TO FURNISH OUR MEMBERS WITH DEPENDABLE ELECTRIC SERVICE AT THE LOWEST COST POSSIBLE.

    Expenses $140,969,105

As filed on the 2022 return.

Listed in Part VII

  • Thomas J Morris

    DIRECTOR/VICE-CHAIRMAN

    Total calculated
    $11,922
    From this org
    $11,922
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James W Waters

    DIRECTOR/TREASURER

    Total calculated
    $12,822
    From this org
    $12,822
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Rl Lewis Jr

    DIRECTOR/CHAIRMAN

    Total calculated
    $35,532
    From this org
    $35,532
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • David H Bennett Jr

    DIRECTOR

    Total calculated
    $29,300
    From this org
    $29,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Scott Day

    DIRECTOR

    Total calculated
    $10,622
    From this org
    $10,622
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jerry Boatright

    DIRECTOR/SECRETARY

    Total calculated
    $12,822
    From this org
    $12,822
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Hugh L Brantley

    DIRECTOR

    Total calculated
    $14,622
    From this org
    $14,622
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • J Matt Bennett

    DIRECTOR

    Total calculated
    $11,472
    From this org
    $11,472
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Romeo A Reyes

    PRESIDENT/CEO

    Total calculated
    $381,104
    From this org
    $287,959
    From related orgs
    $0
    Other
    $93,145
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,918
    Bonus
    $12,041
    Other
    $0
    Deferred
    $57,215
    Nontaxable benefits
    $35,930
    Filer's total
    $381,104

  • Jennifer Lynn Gainey

    DIRECTOR, ADMIN SERVICES

    Total calculated
    $245,309
    From this org
    $175,342
    From related orgs
    $0
    Other
    $69,967
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,998
    Bonus
    $7,344
    Other
    $0
    Deferred
    $34,747
    Nontaxable benefits
    $35,220
    Filer's total
    $245,309

  • Mark A Johnson

    VP CORP & POWER SUPPLY SVC

    Total calculated
    $328,939
    From this org
    $244,684
    From related orgs
    $0
    Other
    $84,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,685
    Bonus
    $9,999
    Other
    $0
    Deferred
    $48,891
    Nontaxable benefits
    $35,364
    Filer's total
    $328,939

  • Robert K Bennett Jr

    DIRECTOR OF DISTRIBUTION S

    Total calculated
    $257,723
    From this org
    $188,705
    From related orgs
    $0
    Other
    $69,018
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,101
    Bonus
    $7,604
    Other
    $0
    Deferred
    $37,182
    Nontaxable benefits
    $31,836
    Filer's total
    $257,723

  • James Tucker Jr

    Director of Customer Servi

    Total calculated
    $256,119
    From this org
    $183,833
    From related orgs
    $0
    Other
    $72,286
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,229
    Bonus
    $7,604
    Other
    $0
    Deferred
    $37,106
    Nontaxable benefits
    $35,180
    Filer's total
    $256,119

  • John R Sweat

    DIRECTOR, SYSTEM SERVICES

    Total calculated
    $231,915
    From this org
    $167,717
    From related orgs
    $0
    Other
    $64,198
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,893
    Bonus
    $6,824
    Other
    $0
    Deferred
    $32,362
    Nontaxable benefits
    $31,836
    Filer's total
    $231,915

  • Earl B Williams

    IT MANAGER

    Total calculated
    $240,432
    From this org
    $173,040
    From related orgs
    $0
    Other
    $67,392
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,956
    Bonus
    $7,084
    Other
    $0
    Deferred
    $34,428
    Nontaxable benefits
    $32,964
    Filer's total
    $240,432

  • Jimmy C Deen

    LINE FOREMAN

    Total calculated
    $211,156
    From this org
    $154,540
    From related orgs
    $0
    Other
    $56,616
    Hours/week
    54.96

    Schedule J breakdown matched by us

    Base
    $150,286
    Bonus
    $4,254
    Other
    $0
    Deferred
    $23,436
    Nontaxable benefits
    $33,180
    Filer's total
    $211,156

  • Lonny Whitley

    SYSTEM SUPPORT MANAGER

    Total calculated
    $223,941
    From this org
    $159,182
    From related orgs
    $0
    Other
    $64,759
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,672
    Bonus
    $6,510
    Other
    $0
    Deferred
    $31,795
    Nontaxable benefits
    $32,964
    Filer's total
    $223,941

  • Bruce Rentz

    MEMBER SERVICES MGR

    Total calculated
    $224,148
    From this org
    $160,485
    From related orgs
    $0
    Other
    $63,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,975
    Bonus
    $6,510
    Other
    $0
    Deferred
    $31,827
    Nontaxable benefits
    $31,836
    Filer's total
    $224,148

  • Brian Scott Mikell

    LINE FOREMAN

    Total calculated
    $242,041
    From this org
    $181,305
    From related orgs
    $0
    Other
    $60,736
    Hours/week
    62.91

    Schedule J breakdown matched by us

    Base
    $177,051
    Bonus
    $4,254
    Other
    $0
    Deferred
    $24,806
    Nontaxable benefits
    $35,930
    Filer's total
    $242,041

  • Christie R Mauffray

    ACCT & FINANCE MGR

    Total calculated
    $238,203
    From this org
    $167,925
    From related orgs
    $0
    Other
    $70,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,880
    Bonus
    $7,045
    Other
    $0
    Deferred
    $34,348
    Nontaxable benefits
    $35,930
    Filer's total
    $238,203

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 · 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202313149349302166

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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