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Nonprofiteer
← SOUTHSIDE ELECTRIC COOPERATIVE INCORPORATED

Form 990 for tax year 2024

Filed by SOUTHSIDE ELECTRIC COOPERATIVE INCORPORATED.

Totals

Total revenue
$145,238,799
Total expenses
$140,581,559
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$143,751,143
Investment income
$795,178
Other revenue
$692,478
Total assets, end of year
$363,846,379
Total liabilities, end of year
$233,711,846
Net assets or fund balances, end of year
$130,134,533
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: SALE AND DIST. OF ELECT.

    total $137,823,379 · related or exempt $137,823,379

  • 2b · Program service revenue: CONT. IN AID OF CONST.

    total $5,617,720 · related or exempt $5,617,720

  • 2c · Program service revenue: CASH PATRONAGE REC.

    total $310,044 · related or exempt $310,044

  • 3 · Investment income

    total $795,178 · excluded $795,178

  • 6a · Gross rents

    personal property $783,837

  • 6b · Less rental expenses

    personal property $91,359

  • 6c · Rental income or loss

    personal property $692,478

  • 6d · Net rental income or loss

    total $692,478 · unrelated business $226,262 · excluded $466,216

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,425,365

  • 5 · Compensation of officers, directors and key employees

    total $1,200,119

  • 7 · Other salaries and wages

    total $16,028,767

  • 8 · Pension plan contributions

    total $4,083,772

  • 10 · Payroll taxes

    total $1,344,102

  • 11b · Fees: legal

    total $132,025

  • 17 · Travel

    total $3,134,517

  • 19 · Conferences, conventions and meetings

    total $399,406

  • 20 · Interest

    total $7,947,580

  • 22 · Depreciation, depletion and amortization

    total $14,045,217

  • 24a · Other expenses: COST OF POWER

    total $79,834,028

  • 24b · Other expenses: DIST. MAINTENANCE

    total $11,415,282

  • 24c · Other expenses: ADMIN & GENERAL

    total $3,489,377

  • 24d · Other expenses: DISTRIBUTION OPERATION

    total $2,224,271

  • 24e · All other expenses

    total -$8,122,269

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,169,765 · end of year $10,748,992

  • 2 · Savings and temporary cash investments

    beginning of year $1,491,224 · end of year $8,919,955

  • 4 · Accounts receivable

    beginning of year $42,870,209 · end of year $32,732,872

  • 8 · Inventories for sale or use

    beginning of year $4,843,436 · end of year $4,222,474

  • 9 · Prepaid expenses and deferred charges

    beginning of year $222,829 · end of year $489,711

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

    $417,591,713

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

    $168,625,028

  • 10c · Land, buildings and equipment, net

    beginning of year $250,504,201 · end of year $248,966,685

  • 13 · Investments: program-related

    beginning of year $56,119,399 · end of year $57,068,934

  • 15 · Other assets

    beginning of year $702,937 · end of year $696,756

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,191,696 · end of year $14,860,345

  • 23 · Secured mortgages and notes payable

    beginning of year $221,363,603 · end of year $211,715,695

  • 25 · Other liabilities

    beginning of year $6,899,505 · end of year $7,135,806

  • 31 · Retained earnings, endowment or other funds

    beginning of year $129,469,196 · end of year $130,134,533

Mission and programs · 2024

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF SOUTHSIDE ELECTRIC COOPERATIVE.

  • SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 79,834,028 OTHER SALARIES AND WAGES 16,028,767 DEPRECIATION AND AMORTIZATION 14,045,217

As filed on the 2024 return.

Listed in Part VII

  • George Felts

    VP ENGINEERI

    Total calculated
    $604,518
    From this org
    $431,287
    From related orgs
    $0
    Other
    $173,231
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $415,964
    Bonus
    $6,428
    Other
    $8,895
    Deferred
    $149,462
    Nontaxable benefits
    $23,769
    Filer's total
    $604,518

  • Jason Loehr

    PRESIDENT &

    Total calculated
    $477,464
    From this org
    $373,801
    From related orgs
    $0
    Other
    $103,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $365,664
    Bonus
    $797
    Other
    $7,340
    Deferred
    $73,749
    Nontaxable benefits
    $29,914
    Filer's total
    $477,464

  • Ronald White

    VP MEMBER SE

    Total calculated
    $343,139
    From this org
    $260,381
    From related orgs
    $0
    Other
    $82,758
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,360
    Bonus
    $746
    Other
    $16,275
    Deferred
    $75,807
    Nontaxable benefits
    $6,951
    Filer's total
    $343,139

  • Louis Urbine

    DIRECTOR OF

    Total calculated
    $337,719
    From this org
    $179,904
    From related orgs
    $0
    Other
    $157,815
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,235
    Bonus
    $744
    Other
    $6,925
    Deferred
    $136,539
    Nontaxable benefits
    $21,276
    Filer's total
    $337,719

  • Jacob McCann

    VP HUMAN RES

    Total calculated
    $295,363
    From this org
    $230,739
    From related orgs
    $0
    Other
    $64,624
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,690
    Bonus
    $746
    Other
    $9,303
    Deferred
    $37,492
    Nontaxable benefits
    $27,132
    Filer's total
    $295,363

  • Sheena Lankford

    VP MEMBER EN

    Total calculated
    $283,228
    From this org
    $234,468
    From related orgs
    $0
    Other
    $48,760
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,882
    Bonus
    $746
    Other
    $12,840
    Deferred
    $25,750
    Nontaxable benefits
    $23,010
    Filer's total
    $283,228

  • Carly Bullock

    CFO

    Total calculated
    $265,485
    From this org
    $226,592
    From related orgs
    $0
    Other
    $38,893
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,232
    Bonus
    $6,355
    Other
    $9,005
    Deferred
    $16,479
    Nontaxable benefits
    $22,414
    Filer's total
    $265,485

  • Daniel Dufour

    FORMER CFO

    Total calculated
    $177,169
    From this org
    $172,108
    From related orgs
    $0
    Other
    $5,061
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,929
    Bonus
    not reported
    Other
    $1,179
    Deferred
    not reported
    Nontaxable benefits
    $5,061
    Filer's total
    $177,169

  • Frank W Bacon

    CHAIRMAN

    Total calculated
    $45,000
    From this org
    $45,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    24.98

  • Paul S Bennett

    SECRETARY

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.05

  • Charles J Friedl

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.05

  • Brenda Johnson

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.63

  • Clive Pettis

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.56

  • Sarah Saunders

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.76

  • William White

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.81

  • Kristie Martin Wallace

    DIRECTOR

    Total calculated
    $27,500
    From this org
    $27,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.02

  • Earl C Currin Jr

    VICE CHAIRMA

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.75

  • Tracy M Gee

    DIRECTOR

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.75

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 · Independent compensation consultant
  • 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
2024
Filed
15 November 2025
IRS schema version
2024v5.0
Source object
202543189349310284

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