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Nonprofiteer
← SOUTHWEST ARKANSAS ELECTRIC COOP CORP

Form 990 for tax year 2022

Filed by SOUTHWEST ARKANSAS ELECTRIC COOP CORP.

Totals

Total revenue
$67,125,073
Total expenses
$86,469,995
Contributions and grants received
$26,292
Grants paid
$0
Program service revenue
$83,297,047
Investment income
$1,142,939
Other revenue
-$17,341,205
Total assets, end of year
$272,487,208
Total liabilities, end of year
$159,073,551
Net assets or fund balances, end of year
$113,413,657
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.

  • 1e · Government grants (contributions)

    $26,292

  • 2a · Program service revenue: Sales of Electric Energy

    total $82,139,805 · related or exempt $82,139,805

  • 2b · Program service revenue: G&T Capital Credits

    total $820,959 · related or exempt $820,959

  • 2c · Program service revenue: Other Capital Credits

    total $336,283 · related or exempt $336,283

  • 3 · Investment income

    total $1,027,677 · unrelated business $120,915 · excluded $906,762

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $1,521,474 · personal property $286,842

  • 6b · Less rental expenses

    real property $19,344,922

  • 6c · Rental income or loss

    real property -$17,823,448 · personal property $286,842

  • 6d · Net rental income or loss

    total -$17,536,606 · unrelated business -$17,823,448 · excluded $286,842

  • 7a · Gross sales of assets other than inventory

    other assets $115,262

  • 7c · Gain or loss

    other assets $115,262

  • 7d · Net gain or loss

    total $115,262 · excluded $115,262

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MANAGEMENT FEES FROM SWATT

    total $151,619 · unrelated business $151,619

  • 11b · Other revenue: SALES TAX DISCOUNT

    total $37,415 · excluded $37,415

  • 11c · Other revenue: REBATES

    total $5,967 · excluded $5,967

  • 11d · All other revenue

    total $400 · excluded $400

  • 11e · Other revenue, total

    $195,401

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $4,428,402

  • 5 · Compensation of officers, directors and key employees

    total $1,206,780

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $5,837,172

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $915,245

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $4,163,924

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $6,976,185

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Cost of Power

    total $55,261,636

  • 24b · Other expenses: Distribution Expense

    total $4,738,075

  • 24c · Other expenses: Admin & General

    total $1,611,747

  • 24d · Other expenses: Consumer Accounts

    total $1,050,588

  • 24e · All other expenses

    total $280,241

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $493,198 · end of year $2,241,235

  • 2 · Savings and temporary cash investments

    beginning of year $18,507,168 · end of year $13,096,646

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $9,002,164 · end of year $10,026,078

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $348,354 · end of year $353,155

  • 8 · Inventories for sale or use

    beginning of year $6,084,607 · end of year $9,051,835

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,587,639 · end of year $584,633

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

    $286,941,385

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

    $77,282,015

  • 10c · Land, buildings and equipment, net

    beginning of year $178,382,592 · end of year $209,659,370

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $24,276,929 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $25,072,524

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,598 · end of year $2,401,732

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,993,109 · end of year $18,813,869

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $112,360,963 · end of year $138,636,872

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,879,757 · end of year $1,622,810

  • 29 · Capital stock, trust principal or current funds

    beginning of year $106,556,811 · end of year $108,343,738

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

    beginning of year -$7,410 · end of year $276,757

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,901,019 · end of year $4,793,162

Mission and programs · 2022

Mission

PROVIDE FIRST CLASS ELECTRIC SERVICE TO THE MEMBERSHIP AT A VALUED PRICE, AND TO PROVIDE OTHER SERVICES THAT ADD VALUE TO THE ORGANIZATION.

  • DISTRIBUTION OF ELECTRICITY TO 18,929 MEMBER ACCOUNTS, 30,963 METER.

As filed on the 2022 return.

Listed in Part VII

  • Dion Cooper

    PRESIDENT & CEO

    Total calculated
    $338,477
    From this org
    $275,578
    From related orgs
    $0
    Other
    $62,899
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $201,797
    Bonus
    $0
    Other
    $73,781
    Deferred
    $42,973
    Nontaxable benefits
    $19,926
    Filer's total
    $338,477

  • George Wall

    VICE PRESIDENT OF OPERATIONS

    Total calculated
    $228,744
    From this org
    $165,769
    From related orgs
    $0
    Other
    $62,975
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $160,642
    Bonus
    $0
    Other
    $5,127
    Deferred
    $39,217
    Nontaxable benefits
    $23,758
    Filer's total
    $228,744

  • Kecia Wolf

    PRESIDENT AND CEO

    Total calculated
    $212,760
    From this org
    $154,792
    From related orgs
    $0
    Other
    $57,968
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $148,490
    Bonus
    $0
    Other
    $6,302
    Deferred
    $36,667
    Nontaxable benefits
    $21,301
    Filer's total
    $212,760

  • Kevin Kennedy

    DIRECTOR OF ENGINEERING

    Total calculated
    $191,380
    From this org
    $137,856
    From related orgs
    $0
    Other
    $53,524
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,911
    Bonus
    $0
    Other
    $7,945
    Deferred
    $31,685
    Nontaxable benefits
    $21,839
    Filer's total
    $191,380

  • Bobby Fenton

    DIRECTOR OF OPERATIONS

    Total calculated
    $184,842
    From this org
    $131,759
    From related orgs
    $0
    Other
    $53,083
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,562
    Bonus
    $0
    Other
    $7,197
    Deferred
    $31,288
    Nontaxable benefits
    $21,795
    Filer's total
    $184,842

  • Glenn Hays

    LINEMAN

    Total calculated
    $162,701
    From this org
    $121,107
    From related orgs
    $0
    Other
    $41,594
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $117,170
    Bonus
    $0
    Other
    $3,937
    Deferred
    $20,122
    Nontaxable benefits
    $21,472
    Filer's total
    $162,701

  • Jimmy McCoy

    FOREMAN

    Total calculated
    $162,550
    From this org
    $132,151
    From related orgs
    $0
    Other
    $30,399
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $126,340
    Bonus
    $0
    Other
    $5,811
    Deferred
    $20,122
    Nontaxable benefits
    $10,277
    Filer's total
    $162,550

  • Jeff Newton

    VICE PRESIDENT OF TECHNOLOGY,

    Total calculated
    $162,189
    From this org
    $124,326
    From related orgs
    $0
    Other
    $37,863
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $123,982
    Bonus
    $0
    Other
    $344
    Deferred
    $16,891
    Nontaxable benefits
    $20,972
    Filer's total
    $162,189

  • Cobie Bearden

    FOREMAN

    Total calculated
    $152,776
    From this org
    $117,322
    From related orgs
    $0
    Other
    $35,454
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $117,041
    Bonus
    $0
    Other
    $281
    Deferred
    $14,138
    Nontaxable benefits
    $21,316
    Filer's total
    $152,776

  • Russell Pendergraft

    CHAIRMAN

    Total calculated
    $35,833
    From this org
    $35,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Warren Plyler

    DIRECTOR

    Total calculated
    $35,333
    From this org
    $35,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jim Alford

    DIRECTOR

    Total calculated
    $33,333
    From this org
    $33,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Alan Green

    VICE CHAIRMAN

    Total calculated
    $32,833
    From this org
    $32,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Andy Youngblood

    TREASURER

    Total calculated
    $32,833
    From this org
    $32,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Rickie Barnard

    DIRECTOR

    Total calculated
    $31,833
    From this org
    $31,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Don Stemple

    DIRECTOR

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Tommy Isbell

    DIRECTOR

    Total calculated
    $17,010
    From this org
    $17,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jamie Stevens

    DIRECTOR

    Total calculated
    $15,717
    From this org
    $15,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brett Renfro

    DIRECTOR

    Total calculated
    $8,885
    From this org
    $8,885
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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 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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
SEE SCHEDULE O FOR EXPLANATION OF PRESIDENT/CEO'S COMPENSATION EVALUATION AND APPROVAL.

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.

  • SOUTHWEST ARKANSAS TELECOM AND TECH

    C CORP · TELECOMMUNICATION · AR · 100% owned · share of income $6,059,576 · share of assets $7,304,531 · controlled entity

    Directly controlled by SWAECC

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202323149349303587

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