Skip to content
Nonprofiteer
← SALT RIVER ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2025

Filed by SALT RIVER ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$148,380,526
Total expenses
$148,380,526
Contributions and grants received
$474,096
Grants paid
$10,000
Program service revenue
$141,322,000
Investment income
$1,018,944
Other revenue
$5,565,486
Total assets, end of year
$226,824,146
Total liabilities, end of year
$80,962,181
Net assets or fund balances, end of year
$145,861,965
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$148,380,526

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.

  • 1e · Government grants (contributions)

    $474,096

  • 2a · Program service revenue: ELECTRIC SERVICE

    total $141,158,257 · related or exempt $141,158,257

  • 2b · Program service revenue: ELECTRIC MERCHANDISE

    total $163,743 · related or exempt $163,743

  • 3 · Investment income

    total $1,018,944 · excluded $1,018,944

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $4,229,340 · related or exempt $4,229,340

  • 11b · Other revenue: JOINT USE POLE RENTALS

    total $896,972 · excluded $896,972

  • 11c · Other revenue: CAPITAL CREDITS ALLOCATED

    total $437,077 · related or exempt $437,077

  • 11d · All other revenue

    total $2,097 · unrelated business $180,436 · excluded -$178,339

  • 11e · Other revenue, total

    $5,565,486

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,000

  • 4 · Benefits paid to or for members

    total $7,312,496

  • 5 · Compensation of officers, directors and key employees

    total $682,269

  • 7 · Other salaries and wages

    total $6,679,574

  • 8 · Pension plan contributions

    total $2,262,134

  • 9 · Other employee benefits

    total $1,616,589

  • 10 · Payroll taxes

    total $548,077

  • 11b · Fees: legal

    total $20,946

  • 11c · Fees: accounting

    total $18,250

  • 13 · Office expenses

    total $667,078

  • 20 · Interest

    total $2,652,738

  • 22 · Depreciation, depletion and amortization

    total $5,773,838

  • 23 · Insurance

    total $158,756

  • 24a · Other expenses: COST OF POWER

    total $118,180,287

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $5,377,257

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $3,663,474

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $3,309,034

  • 24e · All other expenses

    total -$10,552,271

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,080,985 · end of year $17,399,128

  • 4 · Accounts receivable

    beginning of year $13,756,420 · end of year $12,852,500

  • 7 · Other notes and loans receivable

    beginning of year $630,672 · end of year $1,944,866

  • 8 · Inventories for sale or use

    beginning of year $1,602,492 · end of year $1,544,563

  • 9 · Prepaid expenses and deferred charges

    beginning of year $190,011 · end of year $162,925

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

    $202,135,309

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

    $122,307,605

  • 10c · Land, buildings and equipment, net

    beginning of year $80,850,384 · end of year $79,827,704

  • 13 · Investments: program-related

    beginning of year $79,701,662 · end of year $83,929,551

  • 15 · Other assets

    beginning of year $24,209,442 · end of year $29,162,909

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,095,335 · end of year $13,809,808

  • 23 · Secured mortgages and notes payable

    beginning of year $62,599,136 · end of year $59,658,057

  • 25 · Other liabilities

    beginning of year $7,530,787 · end of year $7,494,316

  • 29 · Capital stock, trust principal or current funds

    beginning of year $2,731,130 · end of year $2,795,955

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

    beginning of year $3,923,233 · end of year $6,184,209

  • 31 · Retained earnings, endowment or other funds

    beginning of year $132,142,447 · end of year $136,881,801

Mission and programs · 2025

Mission

DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO AN AVERAGE OF APPROXIMATELY 57,596 CONSUMERS MONTHLY.

  • PROVIDE DISTRIBUTION SALES OF ELECTRICITY TO AN AVERAGE OF APPROXIMATELY 57,596 CONSUMERS MONTHLY ON A PATRONAGE BASIS.

    Expenses $148,380,526 · Grants $10,000 · Revenue $145,988,417

As filed on the 2025 return.

Listed in Part VII

  • Darrell Tingle

    TREASURER

    Total calculated
    $18,700
    From this org
    $18,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Linda West

    CHAIRMAN

    Total calculated
    $17,040
    From this org
    $17,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Stevens

    VICE CHAIRMAN

    Total calculated
    $18,017
    From this org
    $18,017
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • George Maddox

    SECRETARY

    Total calculated
    $20,246
    From this org
    $20,246
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • John Hutchins

    DIRECTOR

    Total calculated
    $22,046
    From this org
    $22,046
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joseph Osborne

    DIRECTOR

    Total calculated
    $21,446
    From this org
    $21,446
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Tim Sharp

    PRESIDENT & CEO

    Total calculated
    $468,347
    From this org
    $410,754
    From related orgs
    $0
    Other
    $57,593
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $410,754
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $57,593
    Filer's total
    $468,347

  • Jaime Roby

    CFO

    Total calculated
    $187,582
    From this org
    $155,020
    From related orgs
    $0
    Other
    $32,562
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $155,020
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,562
    Filer's total
    $187,582

  • William Clements

    LINEMAN

    Total calculated
    $200,926
    From this org
    $167,080
    From related orgs
    $0
    Other
    $33,846
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $167,080
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $33,846
    Filer's total
    $200,926

  • William Tucker

    LINEMAN

    Total calculated
    $181,270
    From this org
    $148,235
    From related orgs
    $0
    Other
    $33,035
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $148,235
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $33,035
    Filer's total
    $181,270

  • Chase Mills

    COO

    Total calculated
    $214,010
    From this org
    $171,262
    From related orgs
    $0
    Other
    $42,748
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $171,262
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $42,748
    Filer's total
    $214,010

  • Richard Hoops

    LINEMAN

    Total calculated
    $184,702
    From this org
    $151,454
    From related orgs
    $0
    Other
    $33,248
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $151,454
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $33,248
    Filer's total
    $184,702

  • Damien Ballard

    LINEMAN

    Total calculated
    $180,787
    From this org
    $147,866
    From related orgs
    $0
    Other
    $32,921
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,866
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,921
    Filer's total
    $180,787

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 · Independent compensation consultant
  • 3 · Written employment contract
  • 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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • LOCK 7 HYDRO PARTNERS LLC

    HYDRO ELECT · KY · 50% owned · share of income -$178,339 · share of assets $183,003 · general or managing partner

Provenance

Return type
form_990
Tax year
2025
Filed
29 April 2026
IRS schema version
2025v4.1
Source object
202611249349301811

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

The source document this was parsed from is served over the API, which is where bulk and document access live.