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Nonprofiteer
← SOUTHWESTERN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by SOUTHWESTERN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$26,682,791
Total expenses
$26,682,791
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$26,395,440
Investment income
$186,334
Other revenue
$101,017
Total assets, end of year
$57,656,627
Total liabilities, end of year
$25,441,815
Net assets or fund balances, end of year
$32,214,812
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 Sales

    total $25,044,296 · related or exempt $25,044,296

  • 2b · Program service revenue: Capital Credits

    total $1,317,110 · related or exempt $1,317,110

  • 2c · Program service revenue: Other Operating

    total $34,034 · related or exempt $34,034

  • 3 · Investment income

    total $186,334 · excluded $186,334

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Non-Operating

    total $101,017 · related or exempt $101,017

  • 11e · Other revenue, total

    $101,017

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,729,345

  • 5 · Compensation of officers, directors and key employees

    total $325,307

  • 20 · Interest

    total $798,986

  • 22 · Depreciation, depletion and amortization

    total $1,203,327

  • 24a · Other expenses: Cost of Power

    total $20,540,146 · program services $20,540,146

  • 24b · Other expenses: Distribution Expense

    total $1,004,359 · program services $1,004,359

  • 24c · Other expenses: Admin & General Expense

    total $733,205 · program services $733,205

  • 24d · Other expenses: Consumer Expense

    total $348,116 · program services $348,116

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,341,232 · end of year $1,782,215

  • 2 · Savings and temporary cash investments

    beginning of year $2,150,000

  • 4 · Accounts receivable

    beginning of year $2,731,344 · end of year $1,895,922

  • 7 · Other notes and loans receivable

    beginning of year $10,025 · end of year $10,148

  • 8 · Inventories for sale or use

    beginning of year $43,496 · end of year $343,194

  • 9 · Prepaid expenses and deferred charges

    beginning of year $371,243 · end of year $442,536

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

    $47,799,711

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

    $21,083,618

  • 10c · Land, buildings and equipment, net

    beginning of year $23,497,770 · end of year $26,716,093

  • 13 · Investments: program-related

    beginning of year $25,162,708 · end of year $26,466,519

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,376,302 · end of year $1,930,029

  • 19 · Deferred revenue

    end of year $86,768

  • 23 · Secured mortgages and notes payable

    beginning of year $21,179,147 · end of year $21,855,018

  • 24 · Unsecured notes and loans payable

    beginning of year $870,000 · end of year $1,570,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $30,882,369 · end of year $32,214,812

Mission and programs · 2024

Mission

TO PROVIDE ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • SALE OF ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE APPROXIMATELY 2,900 ACTIVE METERS/SERVICES AT YEAR END.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Travis Sullivan

    General Manager

    Total calculated
    $295,934
    From this org
    $191,568
    From related orgs
    $0
    Other
    $104,366
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $191,568
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,325
    Nontaxable benefits
    $38,041
    Filer's total
    $295,934

  • Joe Reeser

    Director

    Total calculated
    $11,632
    From this org
    $11,632
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joel Gilbert

    Director

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ron Green

    Director

    Total calculated
    $3,991
    From this org
    $3,991
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Chad Deason

    Director

    Total calculated
    $2,750
    From this org
    $2,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Roy Perschbacher

    Director

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mikael Nixon

    Director

    Total calculated
    $2,250
    From this org
    $2,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jack Chetfield

    Director

    Total calculated
    $2,250
    From this org
    $2,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 · 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.

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.

  • Southwestern Propane LLC

    C Corp · Propane · NM · 100% owned · share of income $174,987 · share of assets $435,392

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523219349315252

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