Southeastern Illinois Electric
- Assets
- $221.1m
- Revenue
- $88.0m
- Investments
- $0.0
- Employees
- 80
- Location
- Carrier Mills, IL
- Founding
- 01/1940
- Data as of
- 12/2022
- EIN
- 37-0524860
Organization Overview
Southeastern Illinois Electric is located in Carrier Mills, IL. The organization was established in 1940. 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 12/2022, Southeastern Illinois Electric employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Illinois Electric 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 12/2022, Southeastern Illinois Electric generated $88.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $88.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION SALES OF ELECTRICITY TO APPROX 24,000 MEMBER OWNERS ON A PATRONAGE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF 24,696 PER MONTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Bramlet Sec/trea | OfficerTrustee | 2.41 | $15,710 |
Shane Croslin Vice Chairman | OfficerTrustee | 0.9 | $9,010 |
Gary Hise Trustee | Trustee | 3.35 | $8,406 |
Brian Joyner Trustee | Trustee | 2.52 | $10,810 |
Victor Knight Trustee | Trustee | 5.17 | $8,106 |
Joseph Marlo Trustee | Trustee | 5.33 | $16,560 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nreca Employee Benefits | 12/30/22 | $3,215,726 |
Endrizzi Contracting Right Of Way Clearing | 12/30/22 | $2,362,981 |
Lineco Medical Insurance Premiums | 12/30/22 | $1,391,114 |
Federated Insurance | 12/30/22 | $540,810 |
Sipc Operations | 12/30/22 | $428,122 |
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 | $87,920,668 |
| Investment income | $87,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $88,029,423 |
| 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 | $4,747,008 |
| Compensation of current officers, directors, key employees. | $1,005,780 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,874,452 |
| Pension plan accruals and contributions | $3,851,511 |
| Other employee benefits | $1,495,149 |
| Payroll taxes | $579,423 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $103,954 |
| Fees for services: Accounting | $16,075 |
| 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 | $2,646,222 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,632,714 |
| Insurance | $0 |
| All other expenses | -$7,574,764 |
| Total functional expenses | $88,029,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,032,969 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,663,752 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,420,239 |
| Prepaid expenses and deferred charges | $314,087 |
| Net Land, buildings, and equipment | $140,631,304 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $69,804,897 |
| Intangible assets | $0 |
| Other assets | $3,239,985 |
| Total assets | $221,107,233 |
| Accounts payable and accrued expenses | $7,031,064 |
| 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 | $60,562,379 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,809,414 |
| Total liabilities | $93,402,857 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $93,790 |
| Paid-in or capital surplus, or land, building, or equipment fund | $826,953 |
| Retained earnings, endowment, accumulated income, or other funds | $126,783,633 |
| Total liabilities and net assets/fund balances | $221,107,233 |