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Nonprofiteer
← SOUTH ALABAMA ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by SOUTH ALABAMA ELECTRIC COOPERATIVE.

Totals

Total revenue
$59,251,788
Total expenses
$60,251,788
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$57,404,286
Investment income
$1,059,500
Other revenue
$788,002
Total assets, end of year
$177,655,969
Total liabilities, end of year
$97,488,548
Net assets or fund balances, end of year
$80,167,421
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 $56,469,483 · related or exempt $56,469,483

  • 2b · Program service revenue: Patronage Capital

    total $934,803 · related or exempt $934,803

  • 3 · Investment income

    total $1,036,264 · excluded $1,036,264

  • 6a · Gross rents

    personal property $433,665

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $433,665

  • 6d · Net rental income or loss

    total $433,665 · excluded $433,665

  • 7a · Gross sales of assets other than inventory

    other assets $144,928

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

    other assets $121,692

  • 7c · Gain or loss

    other assets $23,236

  • 7d · Net gain or loss

    total $23,236 · excluded $23,236

  • 11a · Other revenue: Contract Revenue

    total $323,614 · related or exempt $323,614

  • 11b · Other revenue: Non-operating Income

    total $30,723 · related or exempt $30,723

  • 11e · Other revenue, total

    $354,337

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,169,207

  • 5 · Compensation of officers, directors and key employees

    total $615,211

  • 20 · Interest

    total $2,563,403

  • 22 · Depreciation, depletion and amortization

    total $4,643,113

  • 24a · Other expenses: Cost of Power

    total $34,908,186

  • 24b · Other expenses: Dist Exp - Maintenance

    total $3,769,920

  • 24c · Other expenses: Dist Exp - Operation

    total $2,598,469

  • 24d · Other expenses: Admin & Gen Expense

    total $2,560,895

  • 24e · All other expenses

    total $2,423,384

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,724,107 · end of year $2,679,662

  • 2 · Savings and temporary cash investments

    beginning of year $589,544 · end of year $872,492

  • 4 · Accounts receivable

    beginning of year $5,698,501 · end of year $4,857,792

  • 8 · Inventories for sale or use

    beginning of year $677,731 · end of year $1,264,049

  • 9 · Prepaid expenses and deferred charges

    beginning of year $270,909 · end of year $297,504

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

    $154,748,878

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

    $24,947,848

  • 10c · Land, buildings and equipment, net

    beginning of year $124,473,385 · end of year $129,801,030

  • 11 · Investments: publicly traded securities

    beginning of year $10,149,868 · end of year $11,110,511

  • 13 · Investments: program-related

    beginning of year $23,054,494 · end of year $25,572,275

  • 15 · Other assets

    beginning of year $1,543,581 · end of year $1,200,654

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,512,500 · end of year $6,266,787

  • 19 · Deferred revenue

    beginning of year $3,309,475 · end of year $4,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $80,049,085 · end of year $82,948,620

  • 25 · Other liabilities

    beginning of year $3,881,216 · end of year $4,273,141

  • 29 · Capital stock, trust principal or current funds

    beginning of year $90,082 · end of year $95,262

  • 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 $75,339,762 · end of year $80,072,159

Mission and programs · 2024

Mission

The aim of South Alabama Electric Cooperative is to provide reliable, quality, electric energy and related services to meet the needs of our diverse consumer base at the lowest possible cost consistent with sound economy and good management.

Activities or mission (Part I)

To provide electric utility service to cooperative members.

  • Utilizing approximately 2,904 miles of distribution lines, South Alabama Electric Cooperative provided 408,957,040 Kilowatt-Hours of electric energy to its members located in the southern region of Alabama.

As filed on the 2024 return.

Listed in Part VII

  • Bf

    Trustee

    Total calculated
    $26,005
    From this org
    $26,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Crt

    Trustee

    Total calculated
    $28,675
    From this org
    $28,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Dk

    Trustee

    Total calculated
    $20,665
    From this org
    $20,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jg

    Trustee

    Total calculated
    $31,790
    From this org
    $31,790
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jhm

    Trustee

    Total calculated
    $33,125
    From this org
    $33,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Ndg

    Trustee

    Total calculated
    $21,015
    From this org
    $21,015
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Ts

    Trustee

    Total calculated
    $31,345
    From this org
    $31,345
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Bs

    Trustee

    Total calculated
    $35,795
    From this org
    $35,795
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Lri

    General Manager

    Total calculated
    $386,796
    From this org
    $301,701
    From related orgs
    $0
    Other
    $85,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $289,097
    Bonus
    $0
    Other
    $12,604
    Deferred
    $58,666
    Nontaxable benefits
    $26,429
    Filer's total
    $386,796

  • Rlb

    Employee

    Total calculated
    $175,492
    From this org
    $130,536
    From related orgs
    $0
    Other
    $44,956
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $129,821
    Bonus
    $0
    Other
    $715
    Deferred
    $20,313
    Nontaxable benefits
    $24,643
    Filer's total
    $175,492

  • Hmr

    Employee

    Total calculated
    $208,820
    From this org
    $152,638
    From related orgs
    $0
    Other
    $56,182
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,565
    Bonus
    $0
    Other
    $3,073
    Deferred
    $31,000
    Nontaxable benefits
    $25,182
    Filer's total
    $208,820

  • Jhr

    Employee

    Total calculated
    $169,523
    From this org
    $124,602
    From related orgs
    $0
    Other
    $44,921
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $123,920
    Bonus
    $0
    Other
    $682
    Deferred
    $20,308
    Nontaxable benefits
    $24,613
    Filer's total
    $169,523

  • Es

    Employee

    Total calculated
    $197,483
    From this org
    $142,703
    From related orgs
    $0
    Other
    $54,780
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,259
    Bonus
    $0
    Other
    $444
    Deferred
    $29,670
    Nontaxable benefits
    $25,110
    Filer's total
    $197,483

  • Www

    Employee

    Total calculated
    $255,667
    From this org
    $193,983
    From related orgs
    $0
    Other
    $61,684
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,197
    Bonus
    $0
    Other
    $3,786
    Deferred
    $36,124
    Nontaxable benefits
    $25,560
    Filer's total
    $255,667

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 · 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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 August 2025
IRS schema version
2024v5.2
Source object
202542259349300319

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