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Nonprofiteer
← SOUTHERN RIVERS ENERGY

Form 990 for tax year 2022

Filed by SOUTHERN RIVERS ENERGY.

Totals

Total revenue
$54,913,307
Total expenses
$54,913,307
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$54,521,517
Investment income
$250,176
Other revenue
$141,614
Total assets, end of year
$145,785,741
Total liabilities, end of year
$98,176,965
Net assets or fund balances, end of year
$47,608,776
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 REVENUE

    total $52,495,286 · related or exempt $52,495,286

  • 2b · Program service revenue: POLE RENTAL

    total $1,253,206 · excluded $1,253,206

  • 2c · Program service revenue: PATRONAGE CAPITAL

    total $773,025 · related or exempt $773,025

  • 3 · Investment income

    total $250,176 · excluded $250,176

  • 11a · Other revenue: NON-OPERATING - REVENUE SHARE

    total $62,205 · related or exempt $62,205

  • 11b · Other revenue: NON-OPERATING - RDOF SHARE

    total $47,650 · related or exempt $47,650

  • 11c · Other revenue: REVENUE FROM MDSE

    total $31,390 · related or exempt $31,390

  • 11d · All other revenue

    total $369 · related or exempt $369

  • 11e · Other revenue, total

    $141,614

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,192,121

  • 5 · Compensation of officers, directors and key employees

    total $592,607

  • 6 · Compensation of disqualified persons

    total $53,417

  • 9 · Other employee benefits

    total $97,716

  • 13 · Office expenses

    total $1,233,702

  • 20 · Interest

    total $1,963,978

  • 22 · Depreciation, depletion and amortization

    total $3,735,601

  • 24a · Other expenses: PURCHASED POWER

    total $32,719,695

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $5,813,483

  • 24c · Other expenses: ADMIN. & GENERAL EXP.

    total $2,681,392

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $2,677,511

  • 24e · All other expenses

    total $2,152,084

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,281,621 · end of year $1,279,671

  • 2 · Savings and temporary cash investments

    beginning of year $31,084,117 · end of year $7,109,098

  • 4 · Accounts receivable

    beginning of year $4,234,634 · end of year $6,261,954

  • 8 · Inventories for sale or use

    beginning of year $4,450,530 · end of year $12,213,586

  • 9 · Prepaid expenses and deferred charges

    beginning of year $326,845 · end of year $42,165

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

    $145,886,806

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

    $32,962,735

  • 10c · Land, buildings and equipment, net

    beginning of year $83,225,550 · end of year $112,924,071

  • 13 · Investments: program-related

    beginning of year $5,248,003 · end of year $5,955,196

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,983,020 · end of year $7,436,580

  • 23 · Secured mortgages and notes payable

    beginning of year $66,199,861 · end of year $76,942,903

  • 25 · Other liabilities

    beginning of year $13,168,886 · end of year $13,797,482

  • 29 · Capital stock, trust principal or current funds

    beginning of year $82,095 · end of year $83,505

  • 31 · Retained earnings, endowment or other funds

    beginning of year $46,417,438 · end of year $47,525,271

Mission and programs · 2022

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • STEPHEN GOODMAN

    CHAIRMAN

    Total calculated
    $35,809
    From this org
    $35,809
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.03

  • R BRIAN OGLETREE

    VICE CHAIRMA

    Total calculated
    $16,616
    From this org
    $16,616
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.03

  • HARRY N PARK

    SECRETARY

    Total calculated
    $16,448
    From this org
    $16,448
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.59

  • MILLIE ALEXANDER

    TREASURER

    Total calculated
    $16,616
    From this org
    $16,616
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.09

  • CHANDA THOMPSON

    DIRECTOR

    Total calculated
    $17,016
    From this org
    $17,016
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.03

  • ANDY BUSH

    DIRECTOR

    Total calculated
    $17,816
    From this org
    $17,816
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.54

  • JOHN POPE

    DIRECTOR

    Total calculated
    $15,216
    From this org
    $15,216
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • SAMUEL W SNIDER

    DIRECTOR

    Total calculated
    $2,612
    From this org
    $2,612
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.56

  • NEDAM WALKER

    DIRECTOR

    Total calculated
    $17,211
    From this org
    $17,211
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.48

  • SAUNEY PIPPEN

    DIRECTOR - F

    Total calculated
    $18,486
    From this org
    $18,486
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $18,486
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $18,486

  • JAMES SMITH SR

    DIRECTOR - F

    Total calculated
    $16,445
    From this org
    $16,445
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $16,445
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $16,445

  • WH AVERETT JR

    DIRECTOR - F

    Total calculated
    $18,486
    From this org
    $18,486
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $18,486
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $18,486

  • MICHAEL MCMILLAN

    PRESIDENT/CE

    Total calculated
    $437,247
    From this org
    $342,396
    From related orgs
    $0
    Other
    $94,851
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $293,750
    Bonus
    $17,204
    Other
    $31,442
    Deferred
    $80,605
    Nontaxable benefits
    $14,246
    Filer's total
    $437,247

  • STEVE CAISON

    COO

    Total calculated
    $275,860
    From this org
    $200,263
    From related orgs
    $0
    Other
    $75,597
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $181,726
    Bonus
    $4,441
    Other
    $14,096
    Deferred
    $52,928
    Nontaxable benefits
    $22,669
    Filer's total
    $275,860

  • ROBERT D HALL

    SERVICE SUPE

    Total calculated
    $183,688
    From this org
    $128,350
    From related orgs
    $0
    Other
    $55,338
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $115,622
    Bonus
    $2,563
    Other
    $10,165
    Deferred
    $34,669
    Nontaxable benefits
    $20,669
    Filer's total
    $183,688

  • TONY CALDWELL

    MANAGER FIN

    Total calculated
    $176,126
    From this org
    $123,962
    From related orgs
    $0
    Other
    $52,164
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $110,897
    Bonus
    $2,853
    Other
    $10,212
    Deferred
    $31,495
    Nontaxable benefits
    $20,669
    Filer's total
    $176,126

  • TIMOTHY L THOMPSON

    CREW LEADER

    Total calculated
    $187,381
    From this org
    $137,536
    From related orgs
    $0
    Other
    $49,845
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $97,958
    Bonus
    $39,261
    Other
    $317
    Deferred
    $29,176
    Nontaxable benefits
    $20,669
    Filer's total
    $187,381

  • MATT BOYT

    CREW LEADER

    Total calculated
    $172,364
    From this org
    $123,507
    From related orgs
    $0
    Other
    $48,857
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $94,305
    Bonus
    $28,928
    Other
    $274
    Deferred
    $28,188
    Nontaxable benefits
    $20,669
    Filer's total
    $172,364

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 · Form 990 of other organizations
  • 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
11 July 2023
IRS schema version
2022v5.0
Source object
202321929349300037

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