Southeastern Illinois Electric FY2023 filing

Not tax-deductible

Carrier Mills, ILMutual-benefit / member-servingSince 1938Mutual / membership EIN 37-0524860Revenue $93.1M in FY2023Latest return filed Nov 12, 2025

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.
$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
$1.5M
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
Plus $72.5M in investments, Pt X · Ln 11–13
Fine: 0.1 months of spending in cash, plus $72.5M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$87.8M
39% of total assets
Looks good: liabilities are 39% 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
$93.1M
+6% vs prior year
Spent
$93.1M
To programs
100%
Net assets
$138.6M
By yearFY2020–FY2024
Revenue
$93.1M
FY2023▲ +6%
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
$93.1M
FY2023▲ +6%
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
$138.6M
FY2023▲ +9%
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 FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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% · $93.1M

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

Something off? Claim to add context

Who runs it and what they're paid

19 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$358,091Pt VII · Sec A
Operations Manager
$182,101Pt VII · Sec A
Row & Fleet Manager
$175,046Pt VII · Sec A
Utility Serviceman
$135,409Pt VII · Sec A
Line Foreman
$132,033Pt VII · Sec A
Line Foreman
$131,384Pt VII · Sec A
Line Foreman
$129,272Pt VII · Sec A
Engineering & Purchasing Manager
$128,371Pt 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.

See Southeastern Illinois Electric executive salaries →

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.

Questions for Southeastern Illinois Electric

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1 program · $93.1M · in their own filed words · FY2023
01

Provide electric service to member-owners on a patronage basis. Serve an average of 25,013 per month.

$93.1Mprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$93.1M
Ln 12
Fees for servicesLn 2g$93.0M
Investment incomeLn 3$110K
Other incomeLn 4–11$41K
Money outPt IX
$93.1M
Ln 25
Programscol B$93.1M
Owns and owesPt X
$138.6M
net assets · Ln 32
Cash and savingsLn 1–2$652K
Total assetsLn 16$226.5M
LiabilitiesLn 26$87.8M
PeoplePt VI, VII
19
listed · VII A
PaidVII A19
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$93.0M
Investment incomeLn 3$110K
Other incomeLn 4–11$41K
Total revenueLn 12$93.1M
Assets in detailPt X, end of year
CashLn 1$652K
Cash and savings togetherLn 1–2$652K
InvestmentsLn 11–13$72.5M
Land, buildings, equipmentLn 10c$143.5M
Other assetsLn 15$3.1M
Total assetsLn 16$226.5M
LiabilitiesLn 26$87.8M
Net assetsLn 32$138.6M
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 FY23End FY23
Cash and savingsLn 1–2$1.0M$652K
InvestmentsLn 11–13$69.8M$72.5M
Land, buildings, equipmentLn 10c$140.6M$143.5M
Total assetsLn 16$221.1M$226.5M
LiabilitiesLn 26$93.4M$87.8M
Net assetsLn 32$127.7M$138.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$7.1M$7.1M
Pay of current officers, directors and key staffLn 5$896K$896K
Other salaries and wagesLn 7$7.1M$7.1M
Pension plan contributionsLn 8$3.4M$3.4M
Other employee benefitsLn 9$1.5M$1.5M
Payroll taxesLn 10$594K$594K
Legal feesLn 11b$88K$88K
Accounting feesLn 11c$102K$102K
InterestLn 20$3.1M$3.1M
Depreciation, depletion and amortizationLn 22$5.8M$5.8M
Other expenses (24a–d)Ln 24$70.6M$70.6M
All other expensesLn 24e−$7.2M−$7.2M
Total functional expensesLn 25$93.1M$93.1M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 12, 2025 $96.1M$96.1M$0$142.0M 990 PDF
FY2023 ViewingFiled with the IRS Nov 8, 2024 $93.1M$93.1M$0$138.6M 990 PDF
FY2022Filed with the IRS Nov 3, 2023 $88.0M$88.0M$0$127.7M 990 PDF
FY2021Filed with the IRS Jul 12, 2022 $86.0M$86.0M$0$124.7M 990 PDF
FY2020Filed with the IRS Sep 18, 2021 $88.5M$88.5M$0$120.6M 990 PDF

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 FY2023 990 (6 parts)
Part I · Summary $93,143,370 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $87,920,668$92,993,189
I-10 Investment incomePrior year $87,380$109,525
I-11 Other revenuePrior year $21,375$40,656
I-12 Total revenuePrior year $88,029,423$93,143,370
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $4,747,008$7,077,257
I-15 Salaries and benefitsPrior year $13,806,315$13,522,528
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $69,476,100$72,543,585
I-18 Total expensesPrior year $88,029,423$93,143,370
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 $93,143,370 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $92,993,189$92,993,189
VIII-3 Investment incomeRelated to mission $109,525$109,525
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $35,704 · Unrelated business $4,952$40,656
VIII-12 Total revenueRelated to mission $93,138,418 · Unrelated business $4,952 · Excluded from tax $0$93,143,370
Part IX · Statement of functional expenses $93,143,370 across 12 lines filed
IX-4 Benefits paid to or for membersPrograms $7,077,257$7,077,257
IX-5 Pay of current officers, directors and key staffPrograms $895,947$895,947
IX-7 Other salaries and wagesPrograms $7,108,538$7,108,538
IX-8 Pension plan contributionsPrograms $3,383,541$3,383,541
IX-9 Other employee benefitsPrograms $1,540,472$1,540,472
IX-10 Payroll taxesPrograms $594,030$594,030
IX-11b Legal feesPrograms $88,085$88,085
IX-11c Accounting feesPrograms $102,070$102,070
IX-20 InterestPrograms $3,129,615$3,129,615
IX-22 Depreciation, depletion and amortizationPrograms $5,828,636$5,828,636
IX-24 Other expenses (24a–d)Programs $70,555,415$70,555,415
IX-24e All other expensesPrograms −$7,160,236−$7,160,236
IX-25 Total functional expensesPrograms $93,143,370 · Management $0 · Fundraising $0$93,143,370
Part X · Balance sheet $226,470,638 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,032,969$651,552
X-4 Accounts receivableStart of year $3,663,752$3,913,786
X-8 Inventories for sale or useStart of year $2,420,239$2,450,859
X-9 Prepaid expenses and deferred chargesStart of year $314,087$376,021
X-10c Land, buildings and equipment, netStart of year $140,631,304$143,539,319
X-13 Program-related investmentsStart of year $69,804,897$72,469,880
X-15 Other assetsStart of year $3,239,985$3,069,221
X-16 Total assetsStart of year $221,107,233$226,470,638
X-17 Accounts payable and accrued expensesStart of year $7,031,064$5,378,051
X-25 Other liabilitiesStart of year $25,809,414$14,722,818
X-26 Total liabilitiesStart of year $93,402,857$87,846,076
X-32 Total net assets or fund balancesStart of year $127,704,376$138,624,562
X-33 Total liabilities and net assetsStart of year $221,107,233$226,470,638
Part XI · Reconciliation of net assets $138,624,562 net assets at year end
XI-1 Total revenue$93,143,370
XI-2 Total expenses$93,143,370
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$127,704,376
XI-9 Other changes in net assets$10,920,186
XI-10 Net assets at end of year$138,624,562

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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