Southern Indiana Power
- Assets
- $76.9m
- Revenue
- $46.7m
- Investments
- $0.0
- Employees
- 31
- Location
- Tell City, IN
- Founding
- 11/1942
- Data as of
- 12/2022
- EIN
- 35-0672654
Organization Overview
Southern Indiana Power is located in Tell City, IN. The organization was established in 1942. 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, Southern Indiana Power employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Indiana Power 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, Southern Indiana Power generated $46.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $46.7m during the year ending 12/2022. While expenses have increased by 2.8% per year over the past 5 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
TO PROVIDE SAFE, RELIABLE, AND AFFORDABLE POWER WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 7,533 MEMBERS ON A COOPERATIVE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Vogel Chairman | Trustee | 3.7 | $11,575 |
Philip Meyer Vice Chairman - 3 Months | Trustee | 2 | $3,375 |
Kevin Waninger Secretary - 5 Months | Trustee | 3.5 | $5,325 |
Randall Kleaving Director | Trustee | 3.6 | $9,600 |
Dirk Stein Secretary - 7 Months | Trustee | 4.2 | $9,950 |
Gary Waninger Vice Chairman - 9 Months | Trustee | 4.9 | $8,200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Electricom Llc Fiber Construction | 12/30/22 | $6,042,151 |
Hoffman Tree Service Tree Trimming | 12/30/22 | $929,639 |
Delta Services Llc Electric Construction | 12/30/22 | $373,900 |
K&k Dirtworks Inc Tree Trimming | 12/30/22 | $258,755 |
Nisc Software Provider | 12/30/22 | $222,126 |
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 | $45,512,301 |
| Investment income | $159,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $246,991 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,685,801 |
| 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 | $1,137,683 |
| Compensation of current officers, directors, key employees. | $378,944 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,295,695 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $839,547 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,236,240 |
| Total functional expenses | $46,685,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,684,967 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,501,244 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $423,298 |
| Inventories for sale or use | $486,843 |
| Prepaid expenses and deferred charges | $105,475 |
| Net Land, buildings, and equipment | $49,635,468 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,082,307 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $76,919,602 |
| Accounts payable and accrued expenses | $6,196,277 |
| 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 | $23,792,105 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $697,975 |
| Total liabilities | $30,686,357 |
| 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 | $1,844,586 |
| Retained earnings, endowment, accumulated income, or other funds | $44,388,659 |
| Total liabilities and net assets/fund balances | $76,919,602 |