Southwest Electric Cooperative Inc
- Assets
- $183.1m
- Revenue
- $66.6m
- Investments
- $40.1m
- Employees
- 97
- Location
- Bolivar, MO
- Founding
- 04/1941
- Data as of
- 12/2021
- EIN
- 44-0441450
Organization Overview
Southwest Electric Cooperative Inc is located in Bolivar, MO. The organization was established in 1941. 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 Electric Cooperative Inc employed 97 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Electric Cooperative Inc 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 Electric Cooperative Inc generated $66.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $63.8m during the year ending 12/2021. While expenses have increased by 1.6% 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
TO PROVIDE ELECTRIC SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO OVER 40,000 METERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Ashworth Ceo/general Manager | Officer | 50 | $257,331 |
Jason Carver Chief Engineer | 50 | $150,597 | |
Gary Stiles Operations Manager | 50 | $135,789 | |
Leslie Cantrell Manager, Finance And Acc | 50 | $133,516 | |
Adrian Choate Line Superintendent | 50 | $122,587 | |
Theodore Zeugin Manager, Member Services | 50 | $119,812 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asplundh Tree Service Right Way Clearing | 12/30/21 | $4,002,332 |
Consolidated Electric Services In Line Construction | 12/30/21 | $2,053,252 |
Gregory Line Construction Line Construction | 12/30/21 | $493,592 |
Rumfelt Tree Service Inc Right Way Clearing | 12/30/21 | $137,591 |
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 | $61,702,597 |
| Investment income | $201,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $417,559 |
| Net Gain/Loss on Asset Sales | $45,673 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $64,607 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,569,168 |
| 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. | $553,664 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,641,696 |
| Pension plan accruals and contributions | $857,678 |
| Other employee benefits | $1,027,240 |
| Payroll taxes | $362,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,789 |
| Fees for services: Accounting | $19,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $196,676 |
| Office expenses | $198,205 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $232,825 |
| Travel | $60,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,445 |
| Interest | $1,023,358 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,735,540 |
| Insurance | $0 |
| All other expenses | $823,573 |
| Total functional expenses | $63,832,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,451 |
| Savings and temporary cash investments | $7,199,318 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,484,364 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,934 |
| Inventories for sale or use | $2,337,281 |
| Prepaid expenses and deferred charges | $623,885 |
| Net Land, buildings, and equipment | $128,304,446 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $40,058,839 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,915 |
| Total assets | $183,064,433 |
| Accounts payable and accrued expenses | $6,406,351 |
| 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 | $40,106,195 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,365,554 |
| Total liabilities | $51,878,100 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $13,021,248 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $118,165,085 |
| Total liabilities and net assets/fund balances | $183,064,433 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Sequachee Valley Electric Cooperative South Pittsburg, TN | $165,775,520 | $105,669,415 |