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Nonprofiteer
← SOUTHERN PINE ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by SOUTHERN PINE ELECTRIC COOPERATIVE.

Totals

Total revenue
$60,293,022
Total expenses
$60,293,022
Contributions and grants received
$0
Grants paid
$20,000
Program service revenue
$59,777,764
Investment income
$178,262
Other revenue
$336,996
Total assets, end of year
$110,891,507
Total liabilities, end of year
$19,177,911
Net assets or fund balances, end of year
$91,713,596
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 $59,043,118 · related or exempt $59,043,118

  • 2b · Program service revenue: Patronage Capital

    total $734,646 · related or exempt $734,646

  • 3 · Investment income

    total $178,262 · excluded $178,262

  • 6a · Gross rents

    personal property $336,996

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $336,996

  • 6d · Net rental income or loss

    total $336,996 · excluded $336,996

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000

  • 4 · Benefits paid to or for members

    total $6,123,759

  • 5 · Compensation of officers, directors and key employees

    total $912,893

  • 20 · Interest

    total $116,218

  • 22 · Depreciation, depletion and amortization

    total $3,014,744

  • 24a · Other expenses: Cost of Power

    total $38,832,826

  • 24b · Other expenses: Dist Exp - Maintenance

    total $5,017,144

  • 24c · Other expenses: Dist Exp - Operations

    total $2,948,645

  • 24d · Other expenses: Customer Accounts Exp

    total $1,668,518

  • 24e · All other expenses

    total $1,638,275

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,649,326 · end of year $1,594,818

  • 4 · Accounts receivable

    beginning of year $5,830,892 · end of year $6,625,823

  • 8 · Inventories for sale or use

    beginning of year $944,148 · end of year $1,018,417

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,093 · end of year $11,676

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

    $110,660,460

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

    $35,608,263

  • 10c · Land, buildings and equipment, net

    beginning of year $71,479,949 · end of year $75,052,197

  • 12 · Investments: other securities

    beginning of year $1,000 · end of year $1,000

  • 13 · Investments: program-related

    beginning of year $25,974,627 · end of year $26,587,576

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,397,926 · end of year $6,054,692

  • 23 · Secured mortgages and notes payable

    beginning of year $2,825,756 · end of year $2,305,953

  • 25 · Other liabilities

    beginning of year $10,740,551 · end of year $10,817,266

  • 29 · Capital stock, trust principal or current funds

    beginning of year $102,974 · end of year $99,969

  • 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 $85,826,828 · end of year $91,613,627

Mission and programs · 2023

Mission

Southern Pine Electric Cooperative is a nonprofit organization that exists to provide reliable electric service to its members at the lowest possible cost.

Activities or mission (Part I)

To provide electric utility service to cooperative members.

  • Utilizing 3,443 miles of electric distribution lines, Southern Pine Electric Cooperative, Inc. provided 466,481,288 Kilowatt-Hours of electric energy to approximately 16,187 residential, commercial, and industrial members located in South Alabama.

As filed on the 2023 return.

Listed in Part VII

  • Allen Lang

    Trustee

    Total calculated
    $36,011
    From this org
    $36,011
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Dwight Maloy

    Trustee

    Total calculated
    $32,515
    From this org
    $32,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Lynn Powell

    Trustee

    Total calculated
    $38,232
    From this org
    $38,232
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.3

  • David Cook Jr

    Trustee

    Total calculated
    $36,956
    From this org
    $36,956
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Bobby Ballard

    Trustee

    Total calculated
    $18,579
    From this org
    $18,579
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • Hilbert Hall

    Trustee

    Total calculated
    $33,459
    From this org
    $33,459
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Keith Pugh

    Trustee

    Total calculated
    $13,837
    From this org
    $13,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Scotty White

    Trustee

    Total calculated
    $14,269
    From this org
    $14,269
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Rod Higdon

    Trustee

    Total calculated
    $34,416
    From this org
    $34,416
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Kenny Bledsoe

    Trustee

    Total calculated
    $6,380
    From this org
    $6,380
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Vince Johnson

    Chief Executive Officer

    Total calculated
    $323,118
    From this org
    $243,108
    From related orgs
    $0
    Other
    $80,010
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $243,108
    Bonus
    $0
    Other
    $0
    Deferred
    $56,685
    Nontaxable benefits
    $23,325
    Filer's total
    $323,118

  • Jason Jackson

    Chief Financial Officer

    Total calculated
    $203,337
    From this org
    $146,977
    From related orgs
    $0
    Other
    $56,360
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $146,977
    Bonus
    $0
    Other
    $0
    Deferred
    $33,035
    Nontaxable benefits
    $23,325
    Filer's total
    $203,337

  • Robert Cotten

    Superintendent of Operatio

    Total calculated
    $235,251
    From this org
    $172,612
    From related orgs
    $0
    Other
    $62,639
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,612
    Bonus
    $0
    Other
    $0
    Deferred
    $39,314
    Nontaxable benefits
    $23,325
    Filer's total
    $235,251

  • Johnny Jordan

    District Foreman

    Total calculated
    $203,034
    From this org
    $152,742
    From related orgs
    $0
    Other
    $50,292
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,742
    Bonus
    $0
    Other
    $0
    Deferred
    $26,967
    Nontaxable benefits
    $23,325
    Filer's total
    $203,034

  • Rodney Hildreth

    District Foreman

    Total calculated
    $188,818
    From this org
    $142,022
    From related orgs
    $0
    Other
    $46,796
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,022
    Bonus
    $0
    Other
    $0
    Deferred
    $23,471
    Nontaxable benefits
    $23,325
    Filer's total
    $188,818

  • Brian Richburg

    Construction Foreman

    Total calculated
    $181,084
    From this org
    $131,135
    From related orgs
    $0
    Other
    $49,949
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $131,135
    Bonus
    $0
    Other
    $0
    Deferred
    $26,624
    Nontaxable benefits
    $23,325
    Filer's total
    $181,084

  • Jeff Kirkland

    Director of Member Svcs

    Total calculated
    $181,501
    From this org
    $128,867
    From related orgs
    $0
    Other
    $52,634
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $128,867
    Bonus
    $0
    Other
    $0
    Deferred
    $29,309
    Nontaxable benefits
    $23,325
    Filer's total
    $181,501

  • Phillip Carter

    Lineman I

    Total calculated
    $173,671
    From this org
    $129,513
    From related orgs
    $0
    Other
    $44,158
    Hours/week
    57

    Schedule J breakdown matched by us

    Base
    $129,513
    Bonus
    $0
    Other
    $0
    Deferred
    $20,833
    Nontaxable benefits
    $23,325
    Filer's total
    $173,671

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 · 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

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.

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.

  • Southern Pine Services Inc

    C · Propane Sales · AL · 100% owned · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
19 August 2024
IRS schema version
2023v5.1
Source object
202422359349300117

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