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Nonprofiteer
← SINGING RIVER ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by SINGING RIVER ELECTRIC COOPERATIVE.

Totals

Total revenue
$174,969,099
Total expenses
$177,028,773
Contributions and grants received
$0
Grants paid
$15,198
Program service revenue
$172,762,170
Investment income
$394,430
Other revenue
$1,812,499
Total assets, end of year
$450,362,452
Total liabilities, end of year
$227,153,513
Net assets or fund balances, end of year
$223,208,939
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 $168,589,803 · related or exempt $168,589,803

  • 2b · Program service revenue: Patronage Capital

    total $4,172,367 · related or exempt $4,172,367

  • 3 · Investment income

    total $361,953 · excluded $361,953

  • 6a · Gross rents

    real property $928,566 · personal property $2,943,426

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $928,566 · personal property $2,943,426

  • 6d · Net rental income or loss

    total $3,871,992 · unrelated business $928,566 · excluded $2,943,426

  • 7a · Gross sales of assets other than inventory

    other assets $35,897

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

    other assets $3,420

  • 7c · Gain or loss

    other assets $32,477

  • 7d · Net gain or loss

    total $32,477 · excluded $32,477

  • 10a · Gross sales of inventory

    $48,162

  • 10b · Cost of goods sold

    $47,982

  • 10c · Net income from sales of inventory

    total $180 · related or exempt $180

  • 11a · Other revenue: Loss from Subsidiary

    total -$2,059,673 · related or exempt -$2,059,673

  • 11e · Other revenue, total

    -$2,059,673

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,198

  • 4 · Benefits paid to or for members

    total $5,489,120

  • 5 · Compensation of officers, directors and key employees

    total $1,261,280

  • 20 · Interest

    total $5,073,208

  • 22 · Depreciation, depletion and amortization

    total $11,025,678

  • 24a · Other expenses: Cost of Power

    total $124,165,484

  • 24b · Other expenses: Provision for Deferred

    total -$192,484

  • 24c · Other expenses: Dist Exp-Maintenance

    total $11,970,891

  • 24d · Other expenses: Admin & Gen Expenses

    total $7,074,619

  • 24e · All other expenses

    total $11,145,779

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,204,217 · end of year $13,208,344

  • 2 · Savings and temporary cash investments

    beginning of year $1,728,000

  • 4 · Accounts receivable

    beginning of year $27,864,423 · end of year $31,719,493

  • 7 · Other notes and loans receivable

    beginning of year $162,050 · end of year $60,340

  • 8 · Inventories for sale or use

    beginning of year $9,394,783 · end of year $12,696,570

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,474,388 · end of year $310,999

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

    $430,390,295

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

    $112,511,827

  • 10c · Land, buildings and equipment, net

    beginning of year $279,024,581 · end of year $317,878,468

  • 13 · Investments: program-related

    beginning of year $75,652,769 · end of year $74,138,641

  • 15 · Other assets

    beginning of year $147,650 · end of year $349,597

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,773,522 · end of year $22,712,370

  • 23 · Secured mortgages and notes payable

    beginning of year $154,668,425 · end of year $182,946,655

  • 25 · Other liabilities

    beginning of year $25,786,074 · end of year $21,494,488

  • 29 · Capital stock, trust principal or current funds

    beginning of year $309,245 · end of year $312,665

  • 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 $218,115,595 · end of year $222,896,274

Mission and programs · 2022

Mission

To provide safe and reliable electric service at the lowest possible cost while promoting energy efficiency and enhancing the lives of the members and communities we serve.

  • Singing River Electric Cooperative is an electric distribution cooperative that provided 78,858 services to its members in southeast Mississippi and southwest Alabama in 2022. Singing River Electric maintained distribution lines in Jackson, George, Greene, Harrison, Perry, Stone and Wayne counties in Mississippi as well as Mobile and Washington counties in Alabama. Utilizing its 7,703 miles of electric distribution lines, Singing River Electric sold 1,449,056,912 kilowatt hours of electric energy to its members.

As filed on the 2022 return.

Listed in Part VII

  • Ronald Wilson

    Director

    Total calculated
    $20,460
    From this org
    $20,460
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Mark LaSalle

    Director

    Total calculated
    $19,860
    From this org
    $19,860
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Robert Steele

    Director

    Total calculated
    $21,956
    From this org
    $21,956
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Edward Thornton

    Director/Secretary

    Total calculated
    $21,560
    From this org
    $21,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Stanley Busby

    Director

    Total calculated
    $8,754
    From this org
    $8,754
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Roy Grafe

    Director

    Total calculated
    $20,360
    From this org
    $20,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Howard Davis

    Director

    Total calculated
    $17,910
    From this org
    $17,910
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Cary Williams

    Director/Treasurer

    Total calculated
    $32,082
    From this org
    $32,082
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Travis Baxter

    Director/Vice President

    Total calculated
    $25,537
    From this org
    $25,537
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kristal Sisson

    Director/Board President

    Total calculated
    $33,737
    From this org
    $33,737
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brian K Hughey

    General Manager & CEO

    Total calculated
    $689,185
    From this org
    $361,116
    From related orgs
    $0
    Other
    $328,069
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $354,051
    Bonus
    $0
    Other
    $7,065
    Deferred
    $301,654
    Nontaxable benefits
    $26,415
    Filer's total
    $689,185

  • Tammy Y Hultz

    Manager of Accounting & Fi

    Total calculated
    $349,879
    From this org
    $192,301
    From related orgs
    $0
    Other
    $157,578
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,311
    Bonus
    $0
    Other
    $2,990
    Deferred
    $132,401
    Nontaxable benefits
    $25,177
    Filer's total
    $349,879

  • Christopher L Guillotte

    Serviceman

    Total calculated
    $140,857
    From this org
    $132,729
    From related orgs
    $0
    Other
    $8,128
    Hours/week
    53

  • Annette K Riley

    Manager of Human Resources

    Total calculated
    $227,002
    From this org
    $140,444
    From related orgs
    $0
    Other
    $86,558
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $138,513
    Bonus
    $0
    Other
    $1,931
    Deferred
    $62,953
    Nontaxable benefits
    $23,605
    Filer's total
    $227,002

  • William T Davis

    Manager of Engineering

    Total calculated
    $187,013
    From this org
    $157,564
    From related orgs
    $0
    Other
    $29,449
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $154,151
    Bonus
    $0
    Other
    $3,413
    Deferred
    $4,648
    Nontaxable benefits
    $24,801
    Filer's total
    $187,013

  • Oscar T Evans

    Serviceman

    Total calculated
    $234,380
    From this org
    $133,660
    From related orgs
    $0
    Other
    $100,720
    Hours/week
    58

    Schedule J breakdown matched by us

    Base
    $133,140
    Bonus
    $0
    Other
    $520
    Deferred
    $78,849
    Nontaxable benefits
    $21,871
    Filer's total
    $234,380

  • Lorri M Freeman

    Manager of Public Relation

    Total calculated
    $216,694
    From this org
    $135,343
    From related orgs
    $0
    Other
    $81,351
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $133,200
    Bonus
    $0
    Other
    $2,143
    Deferred
    $57,582
    Nontaxable benefits
    $23,769
    Filer's total
    $216,694

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 · 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.

  • Singing River Connect LLC

    C · Broadband · MS · 100% owned · share of income $848,310 · share of assets $5,277,066 · controlled entity

    Directly controlled by Singing River Electric Cooperative

Provenance

Return type
form_990
Tax year
2022
Filed
4 August 2023
IRS schema version
2022v5.0
Source object
202322219349301187

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