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Nonprofiteer
← SOUTHWEST ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by SOUTHWEST ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$70,745,586
Total expenses
$67,667,704
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$66,088,030
Investment income
$452,873
Other revenue
$4,204,683
Total assets, end of year
$196,615,354
Total liabilities, end of year
$64,585,548
Net assets or fund balances, end of year
$132,029,806
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: ELECTRICITY SALES

    total $66,088,030 · related or exempt $66,088,030

  • 3 · Investment income

    total $454,073 · related or exempt $410,455 · excluded $43,618

  • 6a · Gross rents

    real property $462,170

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $462,170

  • 6d · Net rental income or loss

    total $462,170 · related or exempt $427,793 · unrelated business $34,377

  • 7a · Gross sales of assets other than inventory

    other assets $77

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

    other assets $1,277

  • 7c · Gain or loss

    other assets -$1,200

  • 7d · Net gain or loss

    total -$1,200 · related or exempt -$1,200

  • 10a · Gross sales of inventory

    $393,296

  • 10b · Cost of goods sold

    $357,120

  • 10c · Net income from sales of inventory

    total $36,176 · unrelated business $36,176

  • 11a · Other revenue: CAPITAL CREDITS

    total $2,345,057 · related or exempt $2,345,057

  • 11b · Other revenue: OTHER REVENUE RELATED OR EXEMPT

    total $815,190 · related or exempt $815,190

  • 11c · Other revenue: REVENE-SW FIBER COMM, LLC

    total $546,090 · unrelated business $546,090

  • 11e · Other revenue, total

    $3,706,337

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $586,638

  • 7 · Other salaries and wages

    total $5,253,212

  • 8 · Pension plan contributions

    total $885,334

  • 9 · Other employee benefits

    total $1,187,499

  • 10 · Payroll taxes

    total $383,814

  • 11b · Fees: legal

    total $22,657

  • 11c · Fees: accounting

    total $31,905

  • 12 · Advertising and promotion

    total $214,240

  • 13 · Office expenses

    total $252,287

  • 16 · Occupancy

    total $168,389

  • 17 · Travel

    total $96,757

  • 19 · Conferences, conventions and meetings

    total $38,398

  • 20 · Interest

    total $1,199,820

  • 22 · Depreciation, depletion and amortization

    total $7,007,760

  • 24a · Other expenses: PURCHASED POWER

    total $40,675,047

  • 24b · Other expenses: DISTRIB MAINTENANCE

    total $5,720,636

  • 24c · Other expenses: DISTRIB OPERATIONS

    total $2,237,209

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $810,626

  • 24e · All other expenses

    total $895,476

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,451 · end of year $4,150

  • 2 · Savings and temporary cash investments

    beginning of year $7,199,318 · end of year $8,088,630

  • 4 · Accounts receivable

    beginning of year $4,484,364 · end of year $5,314,140

  • 7 · Other notes and loans receivable

    beginning of year $7,934 · end of year $7,934

  • 8 · Inventories for sale or use

    beginning of year $2,337,281 · end of year $3,687,609

  • 9 · Prepaid expenses and deferred charges

    beginning of year $623,885 · end of year $143,951

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

    $214,684,275

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

    $80,857,277

  • 10c · Land, buildings and equipment, net

    beginning of year $128,304,446 · end of year $133,826,998

  • 12 · Investments: other securities

    beginning of year $40,058,839 · end of year $45,541,942

  • 15 · Other assets

    beginning of year $43,915 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,406,351 · end of year $6,905,321

  • 23 · Secured mortgages and notes payable

    beginning of year $40,106,195 · end of year $48,318,608

  • 25 · Other liabilities

    beginning of year $5,365,554 · end of year $9,361,619

  • 29 · Capital stock, trust principal or current funds

    beginning of year $13,021,248 · end of year $13,816,872

  • 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 $118,165,085 · end of year $118,212,934

Mission and programs · 2022

Mission

SOUTHWEST ELECTRIC COOPERATIVE CAME INTO EXISTENCE IN OCTOBER OF 1939 AND HAS BEEN PROVIDING ELECTRICAL SERVICE TO RURAL MEMBERS EVER SINCE. SWEC OWNS 5,509 MILES OF LINE AND SERVES JUST OVER 43,797 METERS IN ELEVEN COUNTIES. SWEC HAS THREE DISTRICT OFFICES. ONE OFFICE IS LOCATED PRESTON, MISSOURI AND A SECOND IS LOCATED JUST NORTH OF SPRINGFIELD, MISSOURI. THE THIRD OFFICE IS SITUATED AT THE JUNCTION OF J AND 7 HIGHWAYS IN CAMDEN COUNTY. SOUTHWEST ELECTRIC IS DEDICATED TO PROVIDING ITS MEMBERS WITH THE BEST SERVICE POSSIBLE.

Activities or mission (Part I)

TO PROVIDE ELECTRIC SERVICE

  • PROVIDE ELECTRIC SERVICE TO OVER 40,000 METERS

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jack Bybee

    ASSISTANT SECRETARY/TREASU

    Total calculated
    $41,471
    From this org
    $2,425
    From related orgs
    $15,616
    Other
    $23,430
    Hours/week
    9.3

  • Lowell Hill

    DIRECTOR

    Total calculated
    $41,955
    From this org
    $3,325
    From related orgs
    $15,200
    Other
    $23,430
    Hours/week
    13.65

  • Chris Jewell

    DIRECTOR

    Total calculated
    $30,010
    From this org
    $2,775
    From related orgs
    $0
    Other
    $27,235
    Hours/week
    3.03

  • Mike Frieze

    DIRECTOR

    Total calculated
    $23,832
    From this org
    $2,300
    From related orgs
    $0
    Other
    $21,532
    Hours/week
    1.13

  • Ed Dority

    DIRECTOR AND PRESIDENT

    Total calculated
    $17,193
    From this org
    $4,575
    From related orgs
    $0
    Other
    $12,618
    Hours/week
    13.19

  • Nancy Erickson

    DIRECTOR AND VICE PRESIDEN

    Total calculated
    $29,835
    From this org
    $2,600
    From related orgs
    $0
    Other
    $27,235
    Hours/week
    6.88

  • Daniel Mauss

    SECRETARY/TREASU

    Total calculated
    $5,231
    From this org
    $5,225
    From related orgs
    $0
    Other
    $6
    Hours/week
    4.25

  • Carl Button

    DIRECTOR

    Total calculated
    $25,907
    From this org
    $4,375
    From related orgs
    $0
    Other
    $21,532
    Hours/week
    3

  • Barry Edwards

    DIRECTOR

    Total calculated
    $24,432
    From this org
    $2,900
    From related orgs
    $0
    Other
    $21,532
    Hours/week
    6.17

  • James Ashworth

    CEO/GENERAL MANAGER

    Total calculated
    $377,585
    From this org
    $279,011
    From related orgs
    $0
    Other
    $98,574
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $279,011
    Bonus
    $0
    Other
    $0
    Deferred
    $76,320
    Nontaxable benefits
    $22,254
    Filer's total
    $377,585

  • Jason Carver

    CHIEF ENGINEER

    Total calculated
    $228,052
    From this org
    $160,684
    From related orgs
    $0
    Other
    $67,368
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,684
    Bonus
    $0
    Other
    $0
    Deferred
    $44,640
    Nontaxable benefits
    $22,728
    Filer's total
    $228,052

  • Gary Stiles

    OPERATIONS MANAGER

    Total calculated
    $202,211
    From this org
    $145,441
    From related orgs
    $0
    Other
    $56,770
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,441
    Bonus
    $0
    Other
    $0
    Deferred
    $39,744
    Nontaxable benefits
    $17,026
    Filer's total
    $202,211

  • Leslie Cantrell

    MANAGER, FINANCE AND ACC

    Total calculated
    $202,003
    From this org
    $139,530
    From related orgs
    $0
    Other
    $62,473
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,530
    Bonus
    $0
    Other
    $0
    Deferred
    $39,744
    Nontaxable benefits
    $22,729
    Filer's total
    $202,003

  • Adrian Choate

    LINE SUPERINTENDENT

    Total calculated
    $180,981
    From this org
    $127,897
    From related orgs
    $0
    Other
    $53,084
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $127,897
    Bonus
    $0
    Other
    $0
    Deferred
    $36,058
    Nontaxable benefits
    $17,026
    Filer's total
    $180,981

  • Keith Bybee

    LINE SUPERINTENDENT

    Total calculated
    $195,171
    From this org
    $148,371
    From related orgs
    $0
    Other
    $46,800
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,371
    Bonus
    $0
    Other
    $0
    Deferred
    $26,448
    Nontaxable benefits
    $20,352
    Filer's total
    $195,171

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

  • 2 · Substantiation required before reimbursing expenses
  • 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOUTHWEST FIBER COMMUNICATIONS LLC

    FIBER OPTICS · MO · income -$8,005 · assets $722,065

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SHO-ME POWER ELECTRIC COOPERATIVE

    C · UTILITIES · MO

  • KAMO ELECTRIC COOPERATIVE INC

    C · UTILITIES · OK

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202333119349301703

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