Southeastern Illinois Electric FY2020 filing

Not tax-deductible

Carrier Mills, ILMutual-benefit / member-servingSince 1938EIN 37-0524860Revenue $88.5M in FY2020

On file with the IRSseiec.com100 Cooperative Way, 62917-2275 · Carrier Mills, ILTax-exempt since Jan 1940

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Distribution sales of electricity to approx 24,000 member owners on a patronage basis.

100¢ of each $1 spent went to programs.
$1.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.4M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Fine: 0.1 months of spending in cash, plus $64.5M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$86.0M
42% of total assets
Looks good: liabilities are 42% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$88.5M
Spent
$88.5M
To programs
100%
Net assets
$120.6M
By yearFY2020–FY2024
Revenue
$88.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$88.5M
FY2021$86.0M
FY2022$88.0M
FY2023$93.1M
FY2024$96.1M
Expenses
$88.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$88.5M
FY2021$86.0M
FY2022$88.0M
FY2023$93.1M
FY2024$96.1M
Net assets
$120.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$120.6M
FY2021$124.7M
FY2022$127.7M
FY2023$138.6M
FY2024$142.0M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1940.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $88.5M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990; $1.4M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$358,891Pt VII · Sec A
$193,620Pt VII · Sec A
Mgr Row
$167,514Pt VII · Sec A
Asst Op Mgr
$162,463Pt VII · Sec A
Line Foreman
$150,652Pt VII · Sec A
Asst Op Mgr
$147,092Pt VII · Sec A
Serviceman
$146,493Pt VII · Sec A
$12,410Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Dustin Tripp$374,643$358,091$369,567$363,157$358,891
Gregory Cruse——$215,705$198,124$193,620
Jeffrey Crisp$182,885$175,046———
Jeffrey Neuman$176,741$182,101$152,725$146,579$147,092
Jeff Crisp——$176,821$166,757$167,514
William Sweat$150,238—$157,284$150,872$162,463
Robert Robinson$156,418—$131,487——
Maverick Marvel$154,374————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides electricity to about 24,000 member-owners.

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1 program · $88.5M · in their own filed words · FY2020
01

Provide electric service to member owners on a patronage basis. Serve an average of 24,438 per month.

$88.5Mprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$88.5M
Ln 12
Fees for servicesLn 2g$88.4M
Investment incomeLn 3$105K
Other incomeLn 4–11$20K
Money outPt IX
$88.5M
Ln 25
Programscol B$88.5M
Owns and owesPt X
$120.6M
net assets · Ln 32
Cash and savingsLn 1–2$639K
Total assetsLn 16$206.6M
LiabilitiesLn 26$86.0M
PeoplePt VI, VII
18
listed · VII A
PaidVII A18
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$88.4M
Investment incomeLn 3$105K
Other incomeLn 4–11$20K
Total revenueLn 12$88.5M
Assets in detailPt X, end of year
CashLn 1$639K
Cash and savings togetherLn 1–2$639K
InvestmentsLn 11–13$64.5M
Land, buildings, equipmentLn 10c$134.1M
Other assetsLn 15$2.2M
Total assetsLn 16$206.6M
LiabilitiesLn 26$86.0M
Net assetsLn 32$120.6M
OperationsPt I, VI
EmployeesI 577
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$630K$639K
InvestmentsLn 11–13$63.3M$64.5M
Land, buildings, equipmentLn 10c$131.9M$134.1M
Total assetsLn 16$201.1M$206.6M
LiabilitiesLn 26$83.4M$86.0M
Net assetsLn 32$117.8M$120.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$4.3M$4.3M
Pay of current officers, directors and key staffLn 5$1.0M$1.0M
Other salaries and wagesLn 7$6.5M$6.5M
Pension plan contributionsLn 8$3.5M$3.5M
Other employee benefitsLn 9$1.3M$1.3M
Payroll taxesLn 10$547K$547K
Legal feesLn 11b$101K$101K
Accounting feesLn 11c$14K$14K
InterestLn 20$2.6M$2.6M
Depreciation, depletion and amortizationLn 22$5.4M$5.4M
Other expenses (24a–d)Ln 24$69.6M$69.6M
All other expensesLn 24e−$6.4M−$6.4M
Total functional expensesLn 25$88.5M$88.5M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $96.1M$96.1M$0$142.0M 990 PDF
FY2023 $93.1M$93.1M$0$138.6M 990 PDF
FY2022 $88.0M$88.0M$0$127.7M 990 PDF
FY2021 $86.0M$86.0M$0$124.7M 990 PDF
FY2020 Viewing $88.5M$88.5M$0$120.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $88,520,237 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $104,846,132$88,395,545
I-10 Investment incomePrior year $105,727$104,660
I-11 Other revenuePrior year $27,373$20,032
I-12 Total revenuePrior year $104,979,232$88,520,237
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $6,996,863$4,268,580
I-15 Salaries and benefitsPrior year $12,595,614$12,878,022
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $85,386,755$71,373,635
I-18 Total expensesPrior year $104,979,232$88,520,237
I-19 Revenue less expensesPrior year $0$0
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $88,520,237 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $88,395,545$88,395,545
VIII-3 Investment incomeExcluded from tax $104,660$104,660
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $20,029 · Unrelated business $3$20,032
VIII-12 Total revenueRelated to mission $88,415,574 · Unrelated business $3 · Excluded from tax $104,660$88,520,237
Part IX · Statement of functional expenses $88,520,237 across 12 lines filed
IX-4 Benefits paid to or for membersPrograms $4,268,580$4,268,580
IX-5 Pay of current officers, directors and key staffPrograms $1,034,126$1,034,126
IX-7 Other salaries and wagesPrograms $6,513,263$6,513,263
IX-8 Pension plan contributionsPrograms $3,451,988$3,451,988
IX-9 Other employee benefitsPrograms $1,332,130$1,332,130
IX-10 Payroll taxesPrograms $546,515$546,515
IX-11b Legal feesPrograms $100,798$100,798
IX-11c Accounting feesPrograms $14,500$14,500
IX-20 InterestPrograms $2,637,266$2,637,266
IX-22 Depreciation, depletion and amortizationPrograms $5,440,514$5,440,514
IX-24 Other expenses (24a–d)Programs $69,613,037$69,613,037
IX-24e All other expensesPrograms −$6,432,480−$6,432,480
IX-25 Total functional expensesPrograms $88,520,237 · Management $0 · Fundraising $0$88,520,237
Part X · Balance sheet $206,583,855 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $629,883$639,217
X-4 Accounts receivableStart of year $583,591$2,568,375
X-8 Inventories for sale or useStart of year $1,692,039$2,206,665
X-9 Prepaid expenses and deferred chargesStart of year $353,311$354,602
X-10c Land, buildings and equipment, netStart of year $131,887,861$134,119,353
X-13 Program-related investmentsStart of year $63,300,798$64,500,527
X-15 Other assetsStart of year $2,689,960$2,195,116
X-16 Total assetsStart of year $201,137,443$206,583,855
X-17 Accounts payable and accrued expensesStart of year $3,248,942$6,255,010
X-25 Other liabilitiesStart of year $23,569,921$26,142,476
X-26 Total liabilitiesStart of year $83,369,579$86,007,068
X-32 Total net assets or fund balancesStart of year $117,767,864$120,576,787
X-33 Total liabilities and net assetsStart of year $201,137,443$206,583,855
Part XI · Reconciliation of net assets $120,576,787 net assets at year end
XI-1 Total revenue$88,520,237
XI-2 Total expenses$88,520,237
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$117,767,864
XI-9 Other changes in net assets$2,808,923
XI-10 Net assets at end of year$120,576,787

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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