South Alabama Electric Cooperative
- Assets
- $170.3m
- Revenue
- $49.3m
- Investments
- $0.0
- Employees
- 57
- Location
- Troy, AL
- Founding
- 01/1957
- Data as of
- 12/2021
- EIN
- 63-0193841
Organization Overview
South Alabama Electric Cooperative is located in Troy, AL. The organization was established in 1957. 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 Alabama Electric Cooperative employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Alabama Electric 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, South Alabama Electric Cooperative generated $49.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $49.3m during the year ending 12/2021. While expenses have increased by 2.6% 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 UTILITY SERVICE TO COOPERATIVE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTILIZING APPROXIMATELY 2,821 MILES OF DISTRIBUTION LINES, SOUTH ALABAMA ELECTRIC COOPERATIVE PROVIDED 378,920,416 KILOWATT-HOURS OF ELECTRIC ENERGY TO ITS MEMBERS LOCATED IN THE SOUTHERN REGION OF ALABAMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lri General Manager | Officer | 40 | $252,308 |
Www Employee | 40 | $169,657 | |
Hmr Employee | 40 | $123,459 | |
Fsc Employee | 40 | $121,762 | |
Ohn Employee | 44 | $121,502 | |
Es Employee | 40 | $115,393 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pro Sound Inc Audio, Video, And Data Cabling | 12/30/21 | $496,835 |
Kings Table Powerline Service Inc Construction | 12/30/21 | $239,775 |
Bailey Harris Construction Construction Of Headquarters | 12/30/21 | $5,314,162 |
Jackson Line Clearing Inc Right Of Way Clearing | 12/30/21 | $1,601,762 |
Troy Cablevision Inc Security For Headquarters | 12/30/21 | $253,150 |
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 | $45,877,293 |
| Investment income | $3,002,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $328,537 |
| Net Gain/Loss on Asset Sales | $22,382 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,282,613 |
| 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 | $4,403,842 |
| Compensation of current officers, directors, key employees. | $545,658 |
| 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 | $2,481,099 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,729,986 |
| Insurance | $0 |
| All other expenses | $1,723,322 |
| Total functional expenses | $49,282,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,713,908 |
| Savings and temporary cash investments | $284,129 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,276,070 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $577,364 |
| Prepaid expenses and deferred charges | $265,067 |
| Net Land, buildings, and equipment | $115,066,171 |
| Investments—publicly traded securities | $23,321,927 |
| Investments—other securities | $0 |
| Investments—program-related | $22,611,860 |
| Intangible assets | $0 |
| Other assets | $2,191,841 |
| Total assets | $170,308,337 |
| Accounts payable and accrued expenses | $6,318,118 |
| 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 | $88,387,612 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,991,514 |
| Total liabilities | $98,697,244 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $88,417 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $71,522,676 |
| Total liabilities and net assets/fund balances | $170,308,337 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that South Alabama Electric Cooperative has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
4-County Electric Power Association Columbus, MS | $315,642,901 | $133,649,967 |
Satilla Rural Electric Membership Corp Alma, GA | $268,716,625 | $122,190,964 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Diverse Power Incorporated Lagrange, GA | $239,882,222 | $117,829,336 |
Choctawhatchee Electric Cooperative Inc Defuniak Springs, FL | $360,891,875 | $124,274,504 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Northcentral Electric Cooperative Olive Branch, MS | $185,941,805 | $125,968,963 |
Tombigbee Electric Power Assn Tupelo, MS | $221,161,642 | $118,553,499 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Blue Ridge Mountain Electric Membership Corp 101-10 Irc Young Harris, GA | $245,553,260 | $112,097,199 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Peace River Electric Cooperative Inc Wauchula, FL | $298,485,094 | $110,943,049 |