Satilla Rural Electric Membership Corp
- Assets
- $268.7m
- Revenue
- $122.2m
- Investments
- $0.0
- Employees
- 176
- Location
- Alma, GA
- Founding
- 12/1941
- Data as of
- 12/2021
- EIN
- 58-0417350
Organization Overview
Satilla Rural Electric Membership Corp is located in Alma, GA. 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, Satilla Rural Electric Membership Corp employed 176 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Satilla Rural Electric Membership Corp 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, Satilla Rural Electric Membership Corp generated $122.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $122.2m during the year ending 12/2021. While expenses have increased by 0.8% 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
TO BE RECOGNIZED AS A COMPANY HAVING THE POWER TO MEET THE CHANGING NEEDS AND DEMANDS OF OUR CUSTOMERS BY PROVIDING SUPERIOR ENERGY AND NON-ENERGY RELATED PRODUCTS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FURNISH OUR MEMBERS WITH DEPENDABLE ELECTRIC SERVICE AT THE LOWEST COST POSSIBLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Romeo A Reyes President/ceo | Officer | 40 | $268,384 |
Mark A Johnson VP Corp & Power Supply Svcs | Officer | 40 | $235,679 |
Robert K Bennett Jr Director Of Distribution S | Officer | 40 | $181,861 |
Johnny D Allen Director Of Line Services | Officer | 40 | $179,289 |
James Tucker Jr Director Of Customer Servi | Officer | 40 | $176,342 |
Earl B Williams It Manager | 40 | $166,553 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Helena Chemical Company Line Maintenance | 12/30/21 | $1,441,531 |
Townsend Tree Service Co Inc Line Maintenance | 12/30/21 | $1,140,997 |
D&t Altman Right Of Way Contractors Inc Line Maintenance | 12/30/21 | $668,757 |
Pike Electric Inc Line Maintenance | 12/30/21 | $6,312,966 |
Asplundh Tree Expert Co Line Maintenance | 12/30/21 | $1,253,183 |
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 | $120,276,919 |
| Investment income | $71,193 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $155,938 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $122,190,964 |
| 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 | $5,972,515 |
| Compensation of current officers, directors, key employees. | $1,994,099 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $3,905,688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,943,365 |
| Insurance | $0 |
| All other expenses | $3,661,354 |
| Total functional expenses | $122,190,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,004,390 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,421,959 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,494,296 |
| Prepaid expenses and deferred charges | $3,046,111 |
| Net Land, buildings, and equipment | $196,713,702 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $43,731,751 |
| Intangible assets | $0 |
| Other assets | $9,304,416 |
| Total assets | $268,716,625 |
| Accounts payable and accrued expenses | $9,696,112 |
| 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 | $113,078,549 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,576,232 |
| Total liabilities | $148,350,893 |
| 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 | $120,365,732 |
| Total liabilities and net assets/fund balances | $268,716,625 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Lee County Electric Cooperative Inc North Fort Myers, FL | $850,449,864 | $497,387,726 |
Withlacoochee River Electric Cooperative Inc Dade City, FL | $1,217,179,383 | $476,736,829 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sumter Electric Cooperative Inc Sumterville, FL | $962,585,573 | $440,111,118 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Berkeley Electric Cooperative Inc Moncks Corner, SC | $676,271,341 | $408,085,738 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Clay Electric Cooperative Inc Keystone Heights, FL | $801,967,548 | $374,561,378 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |