South Central Power Company
- Assets
- $695.5m
- Revenue
- $353.0m
- Investments
- $0.0
- Employees
- 249
- Location
- Lancaster, OH
- Founding
- 12/1937
- Data as of
- 12/2021
- EIN
- 31-4311730
Organization Overview
South Central Power Company is located in Lancaster, OH. 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, South Central Power Company employed 249 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Central Power Company 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, South Central Power Company generated $353.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $353.0m during the year ending 12/2021. While expenses have increased by 2.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SOUTH CENTRAL POWER COMPANY EXISTS TO ADD VALUE TO THE LIVES OF OUR MEMBERS BY DELIVERING SAFE AND DEPENDABLE SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY AND OTHER SERVICES TO MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Lemonds President/ceo | Officer | 40 | $490,802 |
Thomas Musick VP Operations/engineering | Officer | 50 | $296,801 |
Allison Saffle VP Member Services | Officer | 50 | $276,015 |
Rebecca Witt Chief Financial Officer | Officer | 50 | $272,915 |
Chris Hall Senior Director Of Safety & Labor Relations | 45 | $168,632 | |
Aaron Shambrock Director Of Technical Services | 60 | $160,426 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corna Kokosing Building Construction | 12/30/21 | $23,049,748 |
Asplundh Right Of Way Clearing | 12/30/21 | $3,590,606 |
Davis H Elliot Company Inc Facilities Construction | 12/30/21 | $6,363,675 |
Penn Line Service Inc Right Of Way Clearing | 12/30/21 | $4,041,311 |
New River Electrical Corporation Facilities Construction | 12/30/21 | $3,057,783 |
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 | $338,452,366 |
| Investment income | $112,090 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$152,299 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $352,992,911 |
| 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 | $19,934,825 |
| Compensation of current officers, directors, key employees. | $2,368,489 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,706,281 |
| Pension plan accruals and contributions | $5,895,902 |
| Other employee benefits | $3,020,597 |
| Payroll taxes | $1,817,718 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $435,000 |
| Fees for services: Accounting | $65,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,028,686 |
| Advertising and promotion | $629,016 |
| Office expenses | $869,837 |
| Information technology | $2,351,424 |
| Royalties | $0 |
| Occupancy | $130,500 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $173,664 |
| Interest | $8,663,090 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,926,852 |
| Insurance | $451,157 |
| All other expenses | $2,025,164 |
| Total functional expenses | $352,992,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,877,962 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,923,095 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,693,948 |
| Prepaid expenses and deferred charges | $1,011,359 |
| Net Land, buildings, and equipment | $479,820,441 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $161,664,981 |
| Intangible assets | $0 |
| Other assets | $1,498,676 |
| Total assets | $695,490,462 |
| Accounts payable and accrued expenses | $45,963,512 |
| 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 | $262,125,238 |
| Unsecured mortgages and notes payable | $46,000,000 |
| Other liabilities | $8,254,324 |
| Total liabilities | $362,343,074 |
| 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 | $333,147,388 |
| Total liabilities and net assets/fund balances | $695,490,462 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Buckeye Power Inc Columbus, OH | $1,739,976,540 | $814,420,643 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Wolverine Power Supply Cooperative Inc Cadillac, MI | $963,621,114 | $556,306,485 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
South Central Power Company Lancaster, OH | $695,490,462 | $352,992,911 |
Great Lakes Energy Cooperative Boyne City, MI | $794,670,914 | $238,017,889 |
Warren Rural Electric Cooperative Corporation Bowling Green, KY | $321,679,939 | $226,511,221 |
Owen Electric Cooperative Inc Owenton, KY | $280,661,277 | $184,758,521 |
South Kentucky Rural Electric Cooperative Corp Somerset, KY | $324,255,253 | $141,398,452 |
Pennyrile Rural Electric Cooperative Corporation Hopkinsville, KY | $272,225,368 | $141,666,611 |