Southwestern Electric Cooperative Inc
- Assets
- $164.3m
- Revenue
- $63.4m
- Investments
- $0.0
- Employees
- 84
- Location
- Greenville, IL
- Founding
- 04/1941
- Data as of
- 12/2021
- EIN
- 37-0525575
Organization Overview
Southwestern Electric Cooperative Inc is located in Greenville, IL. The organization was established in 1941. 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, Southwestern Electric Cooperative Inc employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwestern Electric Cooperative Inc 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, Southwestern Electric Cooperative Inc generated $63.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $62.4m during the year ending 12/2021. While expenses have increased by 2.1% 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
AN ELECTRIC COOPERATIVE THAT PROVIDES ELECTRIC DISTRIBUTION SERVICE TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE PROVIDES ELECTRIC SERVICE TO 23,848 MEMBERS IN BOND, MADISON, AND FAYETTE COUNTIES IN ILLINOIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bobby Williams Jr CEO | Officer | 50 | $243,996 |
Andrew Jones VP Business Development | 50 | $162,502 | |
Mike Willman VP Of Operations | 50 | $154,909 | |
Joel Lafrance System-Wide Troubleman Foreman | 49.1 | $154,120 | |
Leo Dublo Construction Foreman | 48.8 | $151,301 | |
Richard Mersinger Maintenance Foreman | 48.4 | $151,168 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
L Keeley Construction Construction Contracting | 12/30/21 | $1,369,080 |
Asplundh Tree Expert Company Right Of Way Clearance | 12/30/21 | $1,143,715 |
Jf Electric Inc Electrical Contracting | 12/30/21 | $1,055,489 |
Gds Associates Inc Power Systems Consulting Services | 12/30/21 | $252,780 |
Usic Locating Services Locating Service | 12/30/21 | $119,740 |
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 | $61,893,176 |
| Investment income | $57,358 |
| 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 | $63,354,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,719 |
| Grants and other assistance to domestic individuals. | $11,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $9,290,776 |
| Compensation of current officers, directors, key employees. | $813,163 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $3,740,024 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,657,926 |
| Insurance | $0 |
| All other expenses | $3,788,833 |
| Total functional expenses | $62,397,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,633,727 |
| Savings and temporary cash investments | $368,657 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,510,296 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $590,888 |
| Inventories for sale or use | $1,631,910 |
| Prepaid expenses and deferred charges | $410,972 |
| Net Land, buildings, and equipment | $145,756,157 |
| Investments—publicly traded securities | $94,374 |
| Investments—other securities | $0 |
| Investments—program-related | $4,294,576 |
| Intangible assets | $0 |
| Other assets | $4,054,652 |
| Total assets | $164,346,209 |
| Accounts payable and accrued expenses | $4,358,632 |
| 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 | $89,658,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,773,562 |
| Total liabilities | $99,790,694 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $64,555,515 |
| Total liabilities and net assets/fund balances | $164,346,209 |
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 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
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 |