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Nonprofiteer
← SOUTHEASTERN ILLINOIS ELECTRIC

Form 990 for tax year 2022

Filed by SOUTHEASTERN ILLINOIS ELECTRIC.

Totals

Total revenue
$88,029,423
Total expenses
$88,029,423
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$87,920,668
Investment income
$87,380
Other revenue
$21,375
Total assets, end of year
$221,107,233
Total liabilities, end of year
$93,402,857
Net assets or fund balances, end of year
$127,704,376
Program services expenses (Part IX)
$88,029,423
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$88,029,423

Program services were 100.0% 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: SALE OF ELECTRIC ENERGY

    total $83,599,776 · related or exempt $83,599,776

  • 2b · Program service revenue: CAPITAL CREDITS REVENUE

    total $2,788,941 · related or exempt $2,788,941

  • 2c · Program service revenue: OTHER REVENUES

    total $1,531,951 · related or exempt $1,531,951

  • 3 · Investment income

    total $87,380 · related or exempt $87,380

  • 11a · Other revenue: WATER HEATERS

    total $21,632 · related or exempt $21,632

  • 11b · Other revenue: SOUTHERN SERVICES LLC

    total -$257 · unrelated business -$257

  • 11e · Other revenue, total

    $21,375

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,747,008 · program services $4,747,008

  • 5 · Compensation of officers, directors and key employees

    total $1,005,780 · program services $1,005,780

  • 7 · Other salaries and wages

    total $6,874,452 · program services $6,874,452

  • 8 · Pension plan contributions

    total $3,851,511 · program services $3,851,511

  • 9 · Other employee benefits

    total $1,495,149 · program services $1,495,149

  • 10 · Payroll taxes

    total $579,423 · program services $579,423

  • 11b · Fees: legal

    total $103,954 · program services $103,954

  • 11c · Fees: accounting

    total $16,075 · program services $16,075

  • 20 · Interest

    total $2,646,222 · program services $2,646,222

  • 22 · Depreciation, depletion and amortization

    total $5,632,714 · program services $5,632,714

  • 24a · Other expenses: COST OF POWER

    total $59,756,308 · program services $59,756,308

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $5,422,598 · program services $5,422,598

  • 24c · Other expenses: ADMINISTRATION & GENERA

    total $1,775,720 · program services $1,775,720

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $1,697,273 · program services $1,697,273

  • 24e · All other expenses

    total -$7,574,764 · program services -$7,574,764

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $557,185 · end of year $1,032,969

  • 4 · Accounts receivable

    beginning of year $1,389,672 · end of year $3,663,752

  • 8 · Inventories for sale or use

    beginning of year $2,210,015 · end of year $2,420,239

  • 9 · Prepaid expenses and deferred charges

    beginning of year $321,356 · end of year $314,087

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

    $207,037,774

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

    $66,406,470

  • 10c · Land, buildings and equipment, net

    beginning of year $138,043,805 · end of year $140,631,304

  • 13 · Investments: program-related

    beginning of year $67,176,807 · end of year $69,804,897

  • 15 · Other assets

    beginning of year $2,133,738 · end of year $3,239,985

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,407,062 · end of year $7,031,064

  • 23 · Secured mortgages and notes payable

    beginning of year $50,672,504 · end of year $60,562,379

  • 25 · Other liabilities

    beginning of year $32,024,522 · end of year $25,809,414

  • 29 · Capital stock, trust principal or current funds

    beginning of year $93,790 · end of year $93,790

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

    beginning of year $881,457 · end of year $826,953

  • 31 · Retained earnings, endowment or other funds

    beginning of year $123,753,243 · end of year $126,783,633

Mission and programs · 2022

Mission

DISTRIBUTION SALES OF ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS.

Activities or mission (Part I)

DISTRIBUTION SALES OF ELECTRICITY TO APPROX 24,000 MEMBER OWNERS ON A PATRONAGE BASIS.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF 24,696 PER MONTH.

    Expenses $88,029,423 · Revenue $87,942,300

As filed on the 2022 return.

Listed in Part VII

  • Pamela Bramlet

    SEC/TREA

    Total calculated
    $15,710
    From this org
    $15,710
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.41

  • Shane Croslin

    VICE CHAIRMAN

    Total calculated
    $9,010
    From this org
    $9,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Gary Hise

    TRUSTEE

    Total calculated
    $8,406
    From this org
    $8,406
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.35

  • Brian Joyner

    TRUSTEE

    Total calculated
    $10,810
    From this org
    $10,810
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.52

  • Victor Knight

    TRUSTEE

    Total calculated
    $8,106
    From this org
    $8,106
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.17

  • Joseph Marlo

    TRUSTEE

    Total calculated
    $16,560
    From this org
    $16,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.33

  • Richard Rister

    TRUSTEE

    Total calculated
    $9,010
    From this org
    $9,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.21

  • Jamie Scherrer

    TRUSTEE

    Total calculated
    $8,710
    From this org
    $8,710
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Dale Schierbaum

    CHAIRMAN

    Total calculated
    $14,210
    From this org
    $14,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.65

  • Tim Spivey

    TRUSTEE

    Total calculated
    $6,310
    From this org
    $6,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.67

  • Tiffany Morhet

    TRUSTEE

    Total calculated
    $12,309
    From this org
    $12,309
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.71

  • Dustin Tripp

    PRESIDENT & CEO

    Total calculated
    $565,805
    From this org
    $369,567
    From related orgs
    $0
    Other
    $196,238
    Hours/week
    40.77

    Schedule J breakdown matched by us

    Base
    $366,274
    Bonus
    $0
    Other
    $3,293
    Deferred
    $148,626
    Nontaxable benefits
    $47,612
    Filer's total
    $565,805

  • Gregory Cruse

    ADMIN, FINANCE & KEY ACCOUNT MANAGER

    Total calculated
    $320,824
    From this org
    $215,705
    From related orgs
    $0
    Other
    $105,119
    Hours/week
    45.85

    Schedule J breakdown matched by us

    Base
    $212,033
    Bonus
    $0
    Other
    $3,672
    Deferred
    $70,088
    Nontaxable benefits
    $35,031
    Filer's total
    $320,824

  • Jeff Crisp

    MGR ROW

    Total calculated
    $296,353
    From this org
    $176,821
    From related orgs
    $0
    Other
    $119,532
    Hours/week
    42.31

    Schedule J breakdown matched by us

    Base
    $172,745
    Bonus
    $0
    Other
    $4,076
    Deferred
    $81,856
    Nontaxable benefits
    $37,676
    Filer's total
    $296,353

  • Jeffrey Neuman

    ASST OP MGR

    Total calculated
    $263,823
    From this org
    $152,725
    From related orgs
    $0
    Other
    $111,098
    Hours/week
    40.77

    Schedule J breakdown matched by us

    Base
    $151,014
    Bonus
    $0
    Other
    $1,711
    Deferred
    $75,093
    Nontaxable benefits
    $36,005
    Filer's total
    $263,823

  • William Sweat

    ASST OP MGR

    Total calculated
    $268,157
    From this org
    $157,284
    From related orgs
    $0
    Other
    $110,873
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,897
    Bonus
    $0
    Other
    $5,387
    Deferred
    $75,093
    Nontaxable benefits
    $35,780
    Filer's total
    $268,157

  • Robert Robinson

    UTILITY SERVICEMAN

    Total calculated
    $197,152
    From this org
    $131,487
    From related orgs
    $0
    Other
    $65,665
    Hours/week
    45.83

    Schedule J breakdown matched by us

    Base
    $131,487
    Bonus
    $0
    Other
    $0
    Deferred
    $41,657
    Nontaxable benefits
    $24,008
    Filer's total
    $197,152

  • James Genet

    UTILITY SERVICEMAN

    Total calculated
    $213,873
    From this org
    $142,305
    From related orgs
    $0
    Other
    $71,568
    Hours/week
    48.15

    Schedule J breakdown matched by us

    Base
    $142,305
    Bonus
    $0
    Other
    $0
    Deferred
    $41,657
    Nontaxable benefits
    $29,911
    Filer's total
    $213,873

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

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
3 November 2023
IRS schema version
2022v5.0
Source object
202313079349302856

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