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Nonprofiteer
← SOUTHERN INDIANA POWER

Form 990 for tax year 2022

Filed by SOUTHERN INDIANA POWER.

Totals

Total revenue
$46,685,801
Total expenses
$46,685,801
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$45,512,301
Investment income
$159,946
Other revenue
$1,013,554
Total assets, end of year
$76,919,602
Total liabilities, end of year
$30,686,357
Net assets or fund balances, end of year
$46,233,245
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$46,685,801

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: REVENUE-ELECTRIC SALES

    total $45,512,301 · related or exempt $45,512,301

  • 3 · Investment income

    total $159,946 · excluded $159,946

  • 6a · Gross rents

    personal property $246,991

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $246,991

  • 6d · Net rental income or loss

    total $246,991 · excluded $246,991

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $756,310 · related or exempt $756,310

  • 11b · Other revenue: MISC. INCOME/LOSS CO-OP ONE

    total $9,569 · unrelated business $9,569

  • 11c · Other revenue: MISC

    total $684 · related or exempt $684

  • 11e · Other revenue, total

    $766,563

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,137,683

  • 5 · Compensation of officers, directors and key employees

    total $378,944

  • 7 · Other salaries and wages

    total $2,295,695

  • 20 · Interest

    total $839,547

  • 24a · Other expenses: PURCHASED POWER

    total $36,577,896

  • 24b · Other expenses: DEPRECIATION EXPENSE

    total $2,171,056

  • 24c · Other expenses: MAINTENANCE EXPENSE

    total $1,548,658

  • 24d · Other expenses: TAXES

    total $500,082

  • 24e · All other expenses

    total $1,236,240

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,636,929 · end of year $5,684,967

  • 4 · Accounts receivable

    beginning of year $4,767,810 · end of year $5,501,244

  • 7 · Other notes and loans receivable

    beginning of year $582,070 · end of year $423,298

  • 8 · Inventories for sale or use

    beginning of year $403,598 · end of year $486,843

  • 9 · Prepaid expenses and deferred charges

    beginning of year $174,739 · end of year $105,475

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

    $69,770,988

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

    $20,135,520

  • 10c · Land, buildings and equipment, net

    beginning of year $44,755,067 · end of year $49,635,468

  • 13 · Investments: program-related

    beginning of year $15,133,524 · end of year $15,082,307

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,589,125 · end of year $6,196,277

  • 23 · Secured mortgages and notes payable

    beginning of year $18,579,035 · end of year $23,792,105

  • 25 · Other liabilities

    beginning of year $655,445 · end of year $697,975

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $1,692,477 · end of year $1,844,586

  • 31 · Retained earnings, endowment or other funds

    beginning of year $43,937,655 · end of year $44,388,659

Mission and programs · 2022

Mission

TO PROVIDE SAFE, RELIABLE, AND AFFORDABLE POWER WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS

  • DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 7,533 MEMBERS ON A COOPERATIVE BASIS.

    Expenses $46,685,801 · Revenue $46,685,801

As filed on the 2022 return.

Listed in Part VII

  • Jeff Vogel

    CHAIRMAN

    Total calculated
    $11,575
    From this org
    $11,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Philip Meyer

    VICE CHAIRMAN - 3 MONTHS

    Total calculated
    $3,375
    From this org
    $3,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kevin Waninger

    SECRETARY - 5 MONTHS

    Total calculated
    $5,325
    From this org
    $5,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Randall Kleaving

    DIRECTOR

    Total calculated
    $9,600
    From this org
    $9,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • Dirk Stein

    SECRETARY - 7 MONTHS

    Total calculated
    $9,950
    From this org
    $9,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Gary Waninger

    VICE CHAIRMAN - 9 MONTHS

    Total calculated
    $8,200
    From this org
    $8,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.9

  • David Lynch

    DIRECTOR

    Total calculated
    $10,125
    From this org
    $10,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.4

  • Chris Burroughs

    DIRECTOR

    Total calculated
    $5,700
    From this org
    $5,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Kyle Knieriem

    DIRECTOR

    Total calculated
    $5,150
    From this org
    $5,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Steven Seibert

    PRESIDENT/CEO

    Total calculated
    $309,944
    From this org
    $227,894
    From related orgs
    $0
    Other
    $82,050
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $227,894
    Bonus
    $0
    Other
    $0
    Deferred
    $61,757
    Nontaxable benefits
    $20,293
    Filer's total
    $309,944

  • Stephen Fortwendel

    MANAGER OF OPERATIONS

    Total calculated
    $160,147
    From this org
    $108,343
    From related orgs
    $0
    Other
    $51,804
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $108,343
    Bonus
    $0
    Other
    $0
    Deferred
    $26,371
    Nontaxable benefits
    $25,433
    Filer's total
    $160,147

  • Todd Hammond

    MANAGER OF ENGINEERING

    Total calculated
    $158,031
    From this org
    $105,991
    From related orgs
    $0
    Other
    $52,040
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,991
    Bonus
    $0
    Other
    $0
    Deferred
    $26,613
    Nontaxable benefits
    $25,427
    Filer's total
    $158,031

  • Clint Heeke

    JOURNEYMAN LINEMAN

    Total calculated
    $147,086
    From this org
    $107,730
    From related orgs
    $0
    Other
    $39,356
    Hours/week
    44

  • James Applegate

    JOURNEYMAN LINEMAN

    Total calculated
    $166,945
    From this org
    $101,994
    From related orgs
    $0
    Other
    $64,951
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $101,994
    Bonus
    $0
    Other
    $0
    Deferred
    $46,010
    Nontaxable benefits
    $18,941
    Filer's total
    $166,945

  • Mathew Glenn

    JOURNEYMAN LINEMAN

    Total calculated
    $138,882
    From this org
    $102,403
    From related orgs
    $0
    Other
    $36,479
    Hours/week
    42

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.

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202323079349302327

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