Southern Indiana Power
- Assets
- $70.5m
- Revenue
- $39.5m
- Investments
- $0.0
- Employees
- 32
- Location
- Tell City, IN
- Founding
- 11/1942
- Data as of
- 12/2021
- EIN
- 35-0672654
Organization Overview
Southern Indiana Power is located in Tell City, IN. The organization was established in 1942. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Southern Indiana Power employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Indiana Power is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Southern Indiana Power generated $39.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $39.5m during the year ending 12/2021. While expenses have increased by 0.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SAFE, RELIABLE, AND AFFORDABLE POWER WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 7,533 MEMBERS ON A COOPERATIVE BASIS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Seibert President/ceo | Officer | 50 | $217,050 |
Stephen Fortwendel Manager Of Operations | 50 | $107,038 | |
Todd Hammond Manager Of Engineering | 40 | $101,423 | |
Clint Heeke Journeyman Lineman | 43 | $100,176 | |
Randall Kleaving Director | Trustee | 3.6 | $10,390 |
Jeff Vogel Chairman | Trustee | 3.6 | $8,950 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hoffman Tree Service Tree Trimming | 12/30/21 | $520,876 |
Delta Services Electric Construction | 12/30/21 | $502,837 |
Electricom Llc Fiber Construction | 12/30/21 | $4,731,048 |
K&k Dirtworks Inc Tree Trimming | 12/30/21 | $239,132 |
Townsend Tree Service Tree Trimming | 12/30/21 | $234,214 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $38,151,160 |
| Investment income | $322,459 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $116,533 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,497,094 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,170,718 |
| Compensation of current officers, directors, key employees. | $352,508 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,124,019 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $753,510 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,063,344 |
| Total functional expenses | $39,497,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,636,929 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,767,810 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $582,070 |
| Inventories for sale or use | $403,598 |
| Prepaid expenses and deferred charges | $174,739 |
| Net Land, buildings, and equipment | $44,755,067 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,133,524 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $70,453,737 |
| Accounts payable and accrued expenses | $5,589,125 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,579,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $655,445 |
| Total liabilities | $24,823,605 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,692,477 |
| Retained earnings, endowment, accumulated income, or other funds | $43,937,655 |
| Total liabilities and net assets/fund balances | $70,453,737 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeastern Rural Electric Membership Corporation Columbia City, IN | $154,005,839 | $126,158,719 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |
South Central Indiana Rural Electric Membership Corporation Martinsville, IN | $273,130,010 | $92,514,436 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
West Kentucky Rural Electric Cooperative Corporation Mayfield, KY | $175,044,197 | $94,020,746 |
Southeastern Illinois Electric Carrier Mills, IL | $211,832,578 | $85,978,289 |
Corn Belt Electric Cooperative Inc Bloomington, IL | $225,280,163 | $84,317,914 |
Nolin Rural Electric Cooperative Corporation Elizabethtown, KY | $169,060,241 | $80,995,142 |
Fleming-Mason Energy Cooperative Inc Flemingsburg, KY | $142,667,683 | $79,467,396 |