Skip to content
Nonprofiteer
← SNAPPING SHOALS ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by SNAPPING SHOALS ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$249,582,310
Total expenses
$260,641,958
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$248,628,903
Investment income
$780,119
Other revenue
$173,288
Total assets, end of year
$306,647,045
Total liabilities, end of year
$205,062,023
Net assets or fund balances, end of year
$101,585,022
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: ELECTRIC REVENUE

    total $240,915,226 · related or exempt $240,915,226

  • 2b · Program service revenue: POLE RENTAL

    total $5,572,945 · excluded $5,572,945

  • 2c · Program service revenue: G & T CAPITAL CREDITS

    total $1,315,817 · related or exempt $1,315,817

  • 2d · Program service revenue: OTHER CAPITAL CREDITS

    total $824,915 · related or exempt $824,915

  • 3 · Investment income

    total $780,119 · excluded $780,119

  • 10a · Gross sales of inventory

    $234,210

  • 10b · Cost of goods sold

    $240,278

  • 10c · Net income from sales of inventory

    total -$6,068 · unrelated business -$6,068

  • 11a · Other revenue: GAIN (LOSS) ON SALE OF PROPER

    total $100,783 · related or exempt $100,783

  • 11b · Other revenue: MISCELLANEOUS NONOPERATING IN

    total $78,573 · related or exempt $78,573

  • 11e · Other revenue, total

    $179,356

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $940,244

  • 20 · Interest

    total $4,115,324

  • 22 · Depreciation, depletion and amortization

    total $12,058,802

  • 24a · Other expenses: PURCHASED POWER

    total $202,648,881

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $13,858,662

  • 24c · Other expenses: ADMIN. & GENERAL EXP.

    total $10,270,667

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $8,461,356

  • 24e · All other expenses

    total $8,288,022

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,661,486 · end of year $14,008,163

  • 2 · Savings and temporary cash investments

    beginning of year $7,300,000

  • 4 · Accounts receivable

    beginning of year $22,190,937 · end of year $29,986,180

  • 8 · Inventories for sale or use

    beginning of year $3,234,858 · end of year $3,794,922

  • 9 · Prepaid expenses and deferred charges

    beginning of year $30,629,840 · end of year $24,598,702

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

    $349,192,774

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

    $152,112,098

  • 10c · Land, buildings and equipment, net

    beginning of year $189,144,048 · end of year $197,080,676

  • 13 · Investments: program-related

    beginning of year $31,521,993 · end of year $33,103,105

  • 15 · Other assets

    beginning of year $16,244 · end of year $4,075,297

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,004,628 · end of year $38,850,493

  • 19 · Deferred revenue

    beginning of year $51,031,000 · end of year $36,020,000

  • 23 · Secured mortgages and notes payable

    beginning of year $97,767,426 · end of year $102,639,058

  • 25 · Other liabilities

    beginning of year $30,732,239 · end of year $27,552,472

  • 29 · Capital stock, trust principal or current funds

    beginning of year $925,521 · end of year $934,546

  • 31 · Retained earnings, endowment or other funds

    beginning of year $96,238,592 · end of year $100,650,476

Mission and programs · 2022

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • Frank Lineberger

    CHAIRMAN

    Total calculated
    $29,890
    From this org
    $29,890
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Jake Carter

    VICE CHAIRMA

    Total calculated
    $40,895
    From this org
    $40,895
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Lance Harper

    SEC.- TREASU

    Total calculated
    $41,210
    From this org
    $41,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jeanette Berry

    ASST SEC.-TR

    Total calculated
    $19,385
    From this org
    $19,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Gene Morris

    DIRECTOR

    Total calculated
    $45,695
    From this org
    $45,695
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Al Flanigan

    DIRECTOR

    Total calculated
    $24,935
    From this org
    $24,935
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Walter Johnson

    DIRECTOR

    Total calculated
    $14,765
    From this org
    $14,765
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Anthony Norton

    DIRECTOR

    Total calculated
    $32,544
    From this org
    $32,544
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Millard Ross

    DIRECTOR

    Total calculated
    $25,656
    From this org
    $25,656
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • James White

    DIRECTOR

    Total calculated
    $34,416
    From this org
    $34,416
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Ruby Woods

    DIRECTOR

    Total calculated
    $26,225
    From this org
    $26,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Shaun Mock

    PRESIDENT &

    Total calculated
    $604,628
    From this org
    $486,249
    From related orgs
    $0
    Other
    $118,379
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $427,886
    Bonus
    $18,333
    Other
    $40,030
    Deferred
    $89,125
    Nontaxable benefits
    $29,254
    Filer's total
    $604,628

  • Frank Askew

    COO

    Total calculated
    $445,569
    From this org
    $334,593
    From related orgs
    $0
    Other
    $110,976
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $297,157
    Bonus
    $9,587
    Other
    $27,849
    Deferred
    $86,755
    Nontaxable benefits
    $24,221
    Filer's total
    $445,569

  • Mike Milligan

    EVP-ENGINEER

    Total calculated
    $416,653
    From this org
    $303,625
    From related orgs
    $0
    Other
    $113,028
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $267,108
    Bonus
    $8,587
    Other
    $27,930
    Deferred
    $77,718
    Nontaxable benefits
    $35,310
    Filer's total
    $416,653

  • Donald Ritchey

    SVP-LINE SVC

    Total calculated
    $336,677
    From this org
    $292,739
    From related orgs
    $0
    Other
    $43,938
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $244,816
    Bonus
    $18,587
    Other
    $29,336
    Deferred
    $14,807
    Nontaxable benefits
    $29,131
    Filer's total
    $336,677

  • Katie Johnston

    CFO

    Total calculated
    $356,116
    From this org
    $266,515
    From related orgs
    $0
    Other
    $89,601
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $224,568
    Bonus
    $11,587
    Other
    $30,360
    Deferred
    $65,560
    Nontaxable benefits
    $24,041
    Filer's total
    $356,116

  • Robbie Young

    VP-ENGINEERI

    Total calculated
    $246,258
    From this org
    $211,443
    From related orgs
    $0
    Other
    $34,815
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $196,731
    Bonus
    $6,573
    Other
    $8,139
    Deferred
    $12,072
    Nontaxable benefits
    $22,743
    Filer's total
    $246,258

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 · Independent compensation consultant
  • 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

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 corporations and trusts

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

  • SNAPPING SHOALS ENERGY MANAGEMENT COMPANY

    C CORP · PAY MASTER · GA · 100% owned · share of income -$27,517 · share of assets $1,373,420 · controlled entity

    Directly controlled by SSEMC

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202333129349300513

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.