Southeastern Electric Exchange Inc
- Assets
- $4.6m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Atlanta, GA
- Founding
- 02/1957
- Data as of
- 06/2022
- EIN
- 58-0435110
Organization Overview
Southeastern Electric Exchange Inc is located in Atlanta, GA. The organization was established in 1957. 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 06/2022, Southeastern Electric Exchange Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Electric Exchange Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Southeastern Electric Exchange Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 0.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE COMMON INTEREST AND GROWTH OF UTILITY SYSTEMS IN THE REGION; AND, TO DEVELOP AND ENHANCE THE HUMAN, OPERATIONAL,AND TECHNICAL RESOURCES OF MEMBER COMPANIES TO THE FULLEST
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TWO AND ONE HALF-DAY ANNUAL CONFERENCE ATTENDED BY 1,589 INDIVIDUALS FROM MEMBER COMPANIES AND TRADE PARTNERS. THE CONFERENCE PROVIDED CURRENT INFORMATION AND CONTINUING EDUCATION DURING SESSIONS ON ELECTRIC DISTRIBUTION; ENVIRONMENTAL; SUBSTATION; TRANSMISSION LINES; FLEET MANAGEMENT & MAINTENANCE; REAL ESTATE & RIGHT-OF-WAY MANAGEMENT; THE NATIONAL ELECTRICAL SAFETY CODE. THE CONFERENCE ALSO INCLUDED TRADE SHOW ALLOWING MEMBER COMPANY PERSONNEL TO LEARN ABOUT NEW PRODUCTS AND SERVICES IN THEIR FIELDS.
THE 32 WORKING GROUP MEETINGS HELD DURING THE YEAR SERVED 2,923 INDIVIDUALS FROM MEMBER COMPANIES AND PROVIDED TRAINING AND CONTINUING EDUCATION IN THE FIELDS OF SAFETY AND ACCIDENT PREVENTION; CLAIMS ADMINISTRATION; INTEGRATED RESOURCE PLANNING; JOINT USE OF FACILITIES AND PLANT; METERING AND DISTRIBUTION SERVICE DEVICES; AMI SYSTEM OPERATIONS; EMERGENCY MUTUAL ASSISTANCE; UNDERGROUND DISTRIBUTION NETWORKS; OVERHEAD DISTRIBUTION; POWER QUALITY & RELIABILITY; ELECTRIC REGULATIONS; REAL ESTATE & RIGHT-OF WAY MANAGEMENT; SUBSTATION MAINTENANCE & OPERATIONS; FLEET MAINTENANCE & MANAGEMENT; TRANSMISSION LINE OPERATIONS; DISTRIBUTION OPERATIONS CONTROL CENTER; AND, UNDERGROUND DISTRIBUTION.
MEMBERSHIP DUES ARE ASSESSED ANNUALLY BY THE BOARD OF DIRECTORS. AFFILIATE MEMBERS (SERVICE COMPANY MEMBERS) PAY THE CURRENT BASE DUES AMOUNT OF $3,200. ALL OTHER MEMBERS (OPERATING COMPANY MEMBERS) PAY BASE DUES EQUAL TO $3,000 PLUS A PROPORTIONATE AMOUNT OF THE REMAINING ASSESSMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott H Smith Exec Director & Corp Secretary | Officer | 50 | $319,981 |
Anita M Wilson Assistant Director | 50 | $143,400 | |
Amy B Bekele Sr. Conference Coordinator | 40 | $126,258 | |
Balt Gas Elect Co Board & 2nd VP | Trustee | 1 | $0 |
Cleco Power Llc Board | Trustee | 1 | $0 |
Dominion Vanc Board & 1st VP | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $214,138 |
| 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 | $214,138 |
| Total Program Service Revenue | $2,982,696 |
| Investment income | $59,671 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,104 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,269,496 |
| 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. | $341,639 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $332,903 |
| Pension plan accruals and contributions | $52,405 |
| Other employee benefits | $66,232 |
| Payroll taxes | $40,696 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,962 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $40,984 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,379 |
| Travel | $18,030 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $956,580 |
| Interest | $795 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,297 |
| Insurance | $6,076 |
| All other expenses | $0 |
| Total functional expenses | $1,993,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,453,237 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,970 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,828 |
| Net Land, buildings, and equipment | $22,758 |
| Investments—publicly traded securities | $2,751,928 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $291,670 |
| Total assets | $4,642,391 |
| Accounts payable and accrued expenses | $688,772 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $250,739 |
| Total liabilities | $939,511 |
| Net assets without donor restrictions | $3,702,880 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,642,391 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Middle Georgia Electric Membership Corporation Vienna, GA | $60,693,839 | $19,174,900 |
Davidson Water Inc Welcome, NC | $156,115,966 | $18,462,382 |
Tombigbee Electric Cooperative Inc Hamilton, AL | $70,534,555 | $17,768,087 |
Upson Electric Membership Corporation Thomaston, GA | $38,150,316 | $15,452,555 |
Marshall-Dekalb Electric Cooperative Boaz, AL | $96,065,726 | $18,545,582 |
Destin Water Users Inc Destin, FL | $116,857,681 | $20,467,236 |
St Johns Water Company Inc Johns Island, SC | $62,033,929 | $16,064,888 |
Electric Cooperatives Of South Carolina Cayce, SC | $5,304,727 | $13,048,925 |
Holley Navarre Water System Navarre, FL | $73,632,093 | $12,282,279 |
Pace Water Systems Inc Pace, FL | $100,740,740 | $12,498,088 |
South Walton Utility Company Inc Miramar Beach, FL | $77,529,965 | $12,379,659 |
Chickasaw Electric Cooperative Inc Somerville, TN | $53,475,417 | $11,540,498 |