Southwest Louisiana Electric
- Assets
- $508.2m
- Revenue
- $245.3m
- Investments
- $5.6m
- Employees
- 289
- Location
- Lafayette, LA
- Founding
- 12/1937
- Data as of
- 12/2021
- EIN
- 72-0323335
Organization Overview
Southwest Louisiana Electric is located in Lafayette, LA. The organization was established in 1937. 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, Southwest Louisiana Electric employed 289 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Louisiana 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 12/2021, Southwest Louisiana Electric generated $245.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $245.3m during the year ending 12/2021. While expenses have increased by 2.0% 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
DISTRIBUTION OF ELECTRIC SERVICE TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRIC SERVICE TO MEMBERS ON A COOPERATIVE BASIS.
DISTRIBUTION OF ELECTRIC SERVICE TO MEMBERS ON A COOPERATIVE BASIS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn A Tamporello General Mana | Officer | 50 | $368,776 |
Katherine H Domingue Officer | Officer | 50 | $252,927 |
James E Laque Jr Key Employee | Officer | 50 | $232,854 |
John B Meche Key Employee | Officer | 50 | $179,830 |
Glenn M Angelle Employee | 45 | $166,787 | |
Charles D Moore Employee | 45 | $155,085 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sparks Energy Inc Electric Constr | 12/30/21 | $5,112,803 |
Gresco Utility Supply Inc Electric Constr | 12/30/21 | $3,084,021 |
Echo Powerline Holdings Llc Electric Constr | 12/30/21 | $2,535,620 |
Linetec Services Llc Overhead Constr | 12/30/21 | $3,277,711 |
Stuart C Irby Co Electric Constr | 12/30/21 | $2,132,056 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,302,335 |
| 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 | $5,302,335 |
| Total Program Service Revenue | $237,870,940 |
| Investment income | $948,647 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $604,251 |
| Net Gain/Loss on Asset Sales | $611,404 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $245,337,577 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,733 |
| Grants and other assistance to domestic individuals. | $40,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,150,467 |
| Compensation of current officers, directors, key employees. | $1,687,404 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $6,892 |
| Other salaries and wages | $12,375,782 |
| Pension plan accruals and contributions | $3,270,536 |
| Other employee benefits | $5,645,545 |
| Payroll taxes | $1,032,008 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $458,838 |
| Fees for services: Accounting | $53,909 |
| 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 | $160,022 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,608,682 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,860,648 |
| Insurance | $0 |
| All other expenses | $2,548,515 |
| Total functional expenses | $245,313,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,215 |
| Savings and temporary cash investments | $8,951,630 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,587,451 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,281,013 |
| Prepaid expenses and deferred charges | $885,732 |
| Net Land, buildings, and equipment | $434,099,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,569,794 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,833,341 |
| Total assets | $508,237,761 |
| Accounts payable and accrued expenses | $19,198,475 |
| 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 | $194,044,738 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,518,128 |
| Total liabilities | $235,761,341 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $405,470 |
| Paid-in or capital surplus, or land, building, or equipment fund | $196,940 |
| Retained earnings, endowment, accumulated income, or other funds | $271,874,010 |
| Total liabilities and net assets/fund balances | $508,237,761 |
Grants Awarded
Over the last fiscal year, Southwest Louisiana Electric has awarded $25,333 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Lafayette, LA | | $17,000 |
LSUE FOUNDATION | | | $8,333 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $3,229,605,813 | $252,635,175 |
Dixie Electric Membership Corporation Baton Rouge, LA | $725,178,434 | $239,155,259 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $657,902,626 | $247,741,918 |