Southern Illinois Power Cooperative
- Assets
- $684.4m
- Revenue
- $167.6m
- Investments
- $524.7k
- Employees
- 86
- Location
- Marion, IL
- Founding
- 09/1965
- Data as of
- 12/2021
- EIN
- 37-0801403
Organization Overview
Southern Illinois Power Cooperative is located in Marion, IL. The organization was established in 1965. 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, Southern Illinois Power Cooperative employed 86 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Illinois Power Cooperative 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, Southern Illinois Power Cooperative generated $167.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $161.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 7 years. 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
TO DELIVER TO OUR MEMBER SYSTEMS, HIGHLY RELIABLE, REASONABLY-PRICED AND ENVIRONMENTALLY RESPONSIBLE WHOLESALE POWER, FOR THE BENEFIT OF THEIR MEMBERS AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERATE AND TRANSMIT ELECTRICITY TO MEMBER DISTRIBUTION COOPERATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Gulley President & CEO | Officer | 60 | $736,352 |
Robert Gallenbach VP Power Production | 60 | $246,513 | |
Paul Furtak VP Admin & Finance | Officer | 50 | $205,097 |
William G Hutchison VP Transmission & Systems | 50 | $204,566 | |
Wendell Ray Watson Director Of Environmental | 50 | $195,372 | |
Robert Conn Manager Generation & Fuel | 50 | $178,223 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
St Cotter Turbine Services Inc Mechanical Labor / Repairs | 12/30/21 | $845,561 |
Scheck Industrial Corp Mechanical Labor / Repairs | 12/30/21 | $598,805 |
Bbc Electric High Voltage Mechanical Labor / Repairs | 12/30/21 | $976,355 |
Big D Electric Mechanical Labor / Repairs | 12/30/21 | $3,609,332 |
Greg's Truck Service Trucking | 12/30/21 | $2,538,743 |
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 | $167,151,592 |
| Investment income | $30,918 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$57,333 |
| Net Gain/Loss on Asset Sales | -$31,384 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $167,555,011 |
| 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. | $1,378,103 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,669,261 |
| Pension plan accruals and contributions | $4,055,901 |
| Other employee benefits | $2,712,874 |
| Payroll taxes | $709,477 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $260,110 |
| Fees for services: Accounting | $114,779 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,131,751 |
| Advertising and promotion | $30,669 |
| Office expenses | $556,528 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,784,427 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,927 |
| Interest | $25,893,337 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,724,718 |
| Insurance | $1,398,592 |
| All other expenses | $0 |
| Total functional expenses | $160,964,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,069,494 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,007,295 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,489,687 |
| Prepaid expenses and deferred charges | $72,611,370 |
| Net Land, buildings, and equipment | $537,533,048 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $524,684 |
| Investments—program-related | $10,129,757 |
| Intangible assets | $0 |
| Other assets | $11,022,167 |
| Total assets | $684,387,502 |
| Accounts payable and accrued expenses | $15,209,553 |
| Grants payable | $0 |
| Deferred revenue | $10,070,160 |
| 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 | $511,570,689 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,452,861 |
| Total liabilities | $553,303,263 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $700 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $131,083,539 |
| Total liabilities and net assets/fund balances | $684,387,502 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Dairyland Power Cooperative La Crosse, WI | $1,543,973,952 | $466,517,279 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
Warren Rural Electric Cooperative Corporation Bowling Green, KY | $321,679,939 | $226,511,221 |
Central Iowa Power Cooperative Cedar Rapids, IA | $899,434,034 | $189,203,690 |
Owen Electric Cooperative Inc Owenton, KY | $280,661,277 | $184,758,521 |
National Electrical Contractors Association Inc Kansas City, MO | $2,543,076 | $175,759,939 |
Corn Belt Power Cooperative Humboldt, IA | $515,608,745 | $168,893,187 |
Southern Illinois Power Cooperative Marion, IL | $684,387,502 | $167,555,011 |