Southwest Louisiana Electric
- Assets
- $535.2m
- Revenue
- $295.8m
- Investments
- $5.9m
- Employees
- 291
- Location
- Lafayette, LA
- Founding
- 12/1937
- Data as of
- 12/2022
- 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 12/2022, Southwest Louisiana Electric employed 291 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 12/2022, Southwest Louisiana Electric generated $295.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $296.0m during the year ending 12/2022. While expenses have increased by 3.9% 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
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 |
|---|---|---|---|
Katherine H Domingue Assistant Gm | Officer | 50 | $276,390 |
Glenn A Tamporello General Mana | Officer | 50 | $417,674 |
John B Meche Key Employee | Officer | 50 | $204,622 |
James E Laque Jr Key Employee | Officer | 50 | $260,525 |
Charles D Moore Employee | 50 | $165,773 | |
Nicole C Clements CFO | Officer | 50 | $131,655 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elster Solutions Llc-honeywell Meter Install | 12/30/22 | $6,183,246 |
Stuart C Irby Co Electric Constr | 12/30/22 | $4,337,030 |
Gresco Utility Supply Inc Electric Constr | 12/30/22 | $3,215,647 |
Wesco Distribution Co | 12/30/22 | $2,231,591 |
Asplundh Tree Expert Co Row Contractor | 12/30/22 | $1,943,689 |
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 | $293,882,456 |
| Investment income | $1,141,511 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $471,137 |
| Net Gain/Loss on Asset Sales | $286,470 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $295,781,574 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,540 |
| Grants and other assistance to domestic individuals. | $39,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,969,139 |
| Compensation of current officers, directors, key employees. | $2,103,932 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $3,491 |
| Other salaries and wages | $12,800,606 |
| Pension plan accruals and contributions | $3,396,820 |
| Other employee benefits | $5,585,480 |
| Payroll taxes | $1,096,995 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $854,591 |
| Fees for services: Accounting | $67,431 |
| 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 | $200,228 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,972,549 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,073,252 |
| Insurance | $0 |
| All other expenses | $2,694,195 |
| Total functional expenses | $296,044,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,450 |
| Savings and temporary cash investments | $20,589,881 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,978,955 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,755,488 |
| Prepaid expenses and deferred charges | $1,012,935 |
| Net Land, buildings, and equipment | $448,824,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,859,933 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,199,329 |
| Total assets | $535,248,299 |
| Accounts payable and accrued expenses | $26,106,349 |
| 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 | $208,307,725 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,070,392 |
| Total liabilities | $253,484,466 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $410,670 |
| Paid-in or capital surplus, or land, building, or equipment fund | $196,940 |
| Retained earnings, endowment, accumulated income, or other funds | $281,156,223 |
| Total liabilities and net assets/fund balances | $535,248,299 |
Grants Awarded
Over the last fiscal year, Southwest Louisiana Electric has awarded $25,333 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LSUE FOUNDATION | | | $8,333 |
CATHOLIC SERVICES OF ACADIANA INC | | | $17,000 |