Southern Illinois Power Cooperative
- Assets
- $667.8m
- Revenue
- $180.8m
- Investments
- $539.1k
- Employees
- 89
- Location
- Marion, IL
- Founding
- 09/1965
- Data as of
- 12/2023
- EIN
- 37-0801403
Organization Overview
Southern Illinois Power Cooperative is located in Marion, IL. The organization was established in 1965. 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 12/2023, Southern Illinois Power Cooperative employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Illinois Power Cooperative 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 12/2023, Southern Illinois Power Cooperative generated $180.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $174.3m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DELIVER TO OUR MEMBER SYSTEMS, HIGHLY RELIABLE, REASONABLY-PRICED AND ENVIRONMENTALLY RESPONSIBLE WHOLESALE POWER, FOR THE BENEFIT OF THEIR MEMBERS AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERATE AND TRANSMIT ELECTRICITY TO MEMBER DISTRIBUTION COOPERATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Liefer Director | Trustee | 2 | $0 |
Victor Knight Director | Trustee | 2 | $0 |
George Obernagel Director | Trustee | 1 | $0 |
William Littrell Director | Trustee | 5 | $0 |
James Scherrer Director | Trustee | 3 | $0 |
Frank Herman Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Power Services Group Inc Mechanical Labor / Repairs | 12/30/23 | $1,046,924 |
Scheck Industrial Corp Mechanical Labor / Repairs | 12/30/23 | $1,114,916 |
Greg's Truck Service Trucking | 12/30/23 | $2,564,521 |
St Cotter Turbine Services Inc Mechanical Labor / Repairs | 12/30/23 | $1,660,768 |
Bh Electric Llc Mechanical Labor / Repairs | 12/30/23 | $2,519,900 |
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 | $179,536,585 |
| Investment income | $1,095,058 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$47,552 |
| Net Gain/Loss on Asset Sales | -$66,795 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $180,838,082 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $2,375,548 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,267,464 |
| Pension plan accruals and contributions | $4,081,167 |
| Other employee benefits | $1,144,929 |
| Payroll taxes | $778,830 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $189,461 |
| Fees for services: Accounting | $104,942 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,712,696 |
| Advertising and promotion | $2,500 |
| Office expenses | $679,749 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,217,083 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,385 |
| Interest | $23,205,855 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,241,114 |
| Insurance | $1,367,665 |
| All other expenses | $0 |
| Total functional expenses | $174,260,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,546,496 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,749,373 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $28,818,999 |
| Prepaid expenses and deferred charges | $86,029,504 |
| Net Land, buildings, and equipment | $512,328,389 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $539,061 |
| Investments—program-related | $9,720,314 |
| Intangible assets | $0 |
| Other assets | $10,022,975 |
| Total assets | $667,755,111 |
| Accounts payable and accrued expenses | $15,432,317 |
| Grants payable | $0 |
| Deferred revenue | $20,891,360 |
| 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 | $467,711,789 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,537,456 |
| Total liabilities | $523,572,922 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $700 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $144,181,489 |
| Total liabilities and net assets/fund balances | $667,755,111 |