2023-05-15T15:43:00-05:00 2022-12-31 610420207 JONES NALE & MATTINGLY PLC 401 WEST MAIN STREET SUITE 1100 LOUISVILLE KY 40202 990 2022-01-01 610329022 SALT RIVER ELECTRIC COOPERATIVE SALT 5023483931 PO BOX 609 BARDSTOWN KY 40004 TIMOTHY J SHARP PRESIDENT & CEO 5023483931 2023-05-08 1 TIMOTHY SHARP 999009999 0 TRAVIS C FRICK P01728213 5025830248 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z TIMOTHY J SHARP PO BOX 609 BARDSTOWN KY 40004 141723833 0 X WWW.SRELECTRIC.COM X 1936 KY DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO AN AVERAGE OF APPROXIMATELY 55,226 CONSUMERS MONTHLY. 6 6 85 0 152224 252170 0 0 111790400 136103627 109532 319092 2508083 5301114 114408015 141723833 4000 4000 4549157 6900646 10627405 10855141 0 0 0 99227453 123964046 114408015 141723833 0 0 187060575 201692612 64666031 73168943 122394544 128523669 DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO AN AVERAGE OF APPROXIMATELY 55,226 CONSUMERS MONTHLY. 0 0 141723833 140272604 PROVIDE DISTRIBUTION SALES OF ELECTRICITY TO AN AVERAGE OF APPROXIMATELY 55,226 CONSUMERS MONTHLY ON A PATRONAGE BASIS. 141723833 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 0 0 1 22 0 1 85 1 1 1 0 0 0 0 0 0 140272604 1299005 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 X JAIME ROBY CFO 5023483931 PO BOX 609 BARDSTOWN KY 40004 DARRELL TINGLE TREASURER 5.00 X X 18800 0 0 LINDA WEST CHAIRMAN 5.00 X X 17459 0 0 DAVID STEVENS VICE CHAIRMAN 5.00 X X 17200 0 0 GEORGE MADDOX SECRETARY 5.00 X X 18800 0 0 JOHN HUTCHINS DIRECTOR 5.00 X 4100 0 0 JOSEPH OSBORNE DIRECTOR 5.00 X 20041 0 0 TIM SHARP PRESIDENT & CEO 45.00 X 320957 0 55917 WILLIAM CLEMENTS LINEMAN 45.00 X 135226 0 33609 WILLIAM TUCKER LINEMAN 45.00 X 155574 0 34462 CHASE MILLS LINEMAN 45.00 X 143866 0 41198 RICHARD HOOPS LINEMAN 45.00 X 135957 0 33697 MELISSA HITE LINEMAN 45.00 X 121124 0 39019 1109104 0 237902 6 0 1 0 DAVID ELLIOT CONSTUCTION P O BOX 37251 BALTIMORE MD 21297 LINE CONSTRUCTION 695085 LEWIS TREE SERVICE PO BOX 731897 DALLAS TX 75373 TREE TRIMMING 599971 A&G TREE SERVICE 1646 MORGANTOWN RD BOWLING GREEN KY 42101 TREE TRIMMING 528812 M&M ELECTRICAL 5081 HWY 431 NORTH SPRINGFIELD TN 37172 LINE CONSTRUCTION 491141 MOORE'S TREE SERVICE 161 CHAPLIN RD BLOOMFIELD KY 40008 TREE TRIMMING 376014 5 ELECTRIC SERVICE 221000 135728072 135728072 ELECTRIC MERCHANDISE 221000 375555 375555 136103627 319092 319092 G&T CAPITAL CREDITS 221000 3791040 3791040 JOINT USE POLE RENTALS 221000 765524 765524 CAPITAL CREDITS ALLOCATED 221000 274358 274358 470192 103579 152224 214389 5301114 141723833 140272604 152224 1299005 4000 4000 6900646 6900646 417357 417357 5975019 5975019 2221883 2221883 1745218 1745218 495664 495664 37242 37242 24325 24325 583046 583046 1344820 1344820 6099323 6099323 162454 162454 COST OF POWER 115036024 115036024 DISTRIBUTION - OPERATIO 3519421 3519421 ADMINISTRATIVE AND GENE 3516238 3516238 DISTRIBUTION - MAINTENA 2926479 2926479 -9285326 -9285326 141723833 141723833 0 0 12706213 16395172 16697932 20302431 383575 519466 1426400 1820006 160393 166108 181483518 109813374 70126234 71670144 74380540 76441278 11179288 14378007 187060575 201692612 10872135 13260790 47807436 53231721 5986460 6676432 64666031 73168943 X 2530390 2598040 -3578193 -1802395 123442347 127728024 122394544 128523669 187060575 201692612 0 6129125 X 0 1 X 1 0 181483518 109813374 71670144 71670144 PROGRAM RELATED INVESTMENTS 76441278 F 76441278 PREPAID PENSION ASSET 13437986 DEFERRED DEBITS 940021 14378007 CONSUMER DEPOSITS 3394582 ACCRUED EXPENSES 1740101 CONSUMER ADVANCES FOR CONSTRUCTION 649816 ACCUMULATED POSTRETIREMENT BENEFITS 891933 6676432 X 141723832 0 141723832 0 141723832 141723832 0 141723832 0 141723832 PART X, LINE 2: SALT RIVER QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO SALT RIVER'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. SALT RIVER'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE/BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. SALT RIVER HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT. SALT RIVER'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX IS SUBJECT TO POSSIBLE EXAMINATION BY TAXING AUTHORITIES UNTIL THE EXPIRATION OF RELATED STATUTES OF LIMITATIONS ON THE RETURN, WHICH IS GENERALLY THREE YEARS. X X X X 0 0 0 TIM SHARP PRESIDENT & CEO 320957 0 0 0 0 0 0 0 55917 0 376874 0 0 0 WILLIAM TUCKER LINEMAN 155574 0 0 0 0 0 0 0 34462 0 190036 0 0 0 CHASE MILLS LINEMAN 143866 0 0 0 0 0 0 0 41198 0 185064 0 0 0 RICHARD HOOPS LINEMAN 135957 0 0 0 0 0 0 0 33697 0 169654 0 0 0 WILLIAM CLEMENTS LINEMAN 135226 0 0 0 0 0 0 0 33609 0 168835 0 0 0 MELISSA HITE LINEMAN 121124 0 0 0 0 0 0 0 39019 0 160143 0 0 0 LOCK 7 HYDRO PARTNERS CEO IS A BOARD MEMBER KEEP FINANCIAL RECORDS 0 LOCK 7 HYDRO PARTNERS CFO IS SEC/TREASURER KEEP FINANCIAL RECORDS 0 LOCK 7 HYDRO PARTNERS DIRECTOR DIRECTOR WEST IS DIRECTOR 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - MUST BE A MEMBER TO RECEIVE ELECTRIC SERVICE. EACH MEMBERS HAS 1 VOTE. MAY HAVE MORE THAN 1 SERVICE PER MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - NOMINATING COMMITTEE MEETS EVERY YEAR THERE IS AN ELECTION TO SELECT MEMBER TO RUN FOR DIRECTOR. MEMBER MAY RUN FOR DIRECTOR WITH PETITION SIGNED BY 100 OR MORE ELIGIBLE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - THE BY-LAWS MAY BE AMENDED BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS AT ANY REGULAR OR SPECIAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - DIRECTORS ARE FURNISHED A DRAFT COPY OF THE 990 PRIOR TO FILING. MAY MAKE INQUIRIES OF INFORMATION CONTAINED IN THE FILING. ADDITIONALLY, IF REQUESTED, DIRECTORS MEET WITH THE INDEPENDENT AUDITOR IN A CLOSED SESSION AND ARE ABLE TO ASK QUESTION AT THAT TIME. FORM 990, PART VI, SECTION B, LINE 12C SALT RIVER HAS A BOARD POLICY ADDRESSING CONFLICTS OF INTEREST. THIS IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 15.A AND B. THE BOARD RECEIVES DATA FROM BOTH LOCAL AND NATIONAL SURVEYS. THE BOARD USES THIS DATA, ALONG WITH A PERFORMANCE REVIEW, TO SET COMPENSATION. THE BOARD HAS USED, AND OCCASSIONALLY DOES, USE AN INDEPENDENT HUMAN RESOURCE CONSULTING FIRM TO REVIEW THE COMPENSATION AND PROCESS. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS ARE GIVEN TO EACH MEMBER. EACH YEAR FINANCIAL STATEMENETS ARE GIVEN TO MEMBERS AND AN ANNUAL MEETING OF MEMBERS IS HELD. FORM 990, PART XI, LINE 9: ACCUMULATED COMPREHENSIVE INCOME 1,775,798. MARGINS ALLOCATED TO MEMBERS 6,900,646. MEMBERSHIPS ISSUED 67,650. OTHER EQUITIES 330,340. RETIREMENT OF CAPITAL CREDITS -2,945,309. FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS REPRESENTS PATRONAGE CAPITAL CREDITS ALLOCATED TO MEMBERS IN ACCORDANCE WITH THE BYLAWS OF THE COOPERATIVE. THIS REPORTING RESULTS IN A DIFFERENCE BETWEEN BOOK INCOME AND INCOME REPORTED ON THE FORM 990 BY THE SAME AMOUNT. LOCK 7 HYDRO PARTNERS LLC PO BOX 609 BARDSTOWN KY 40004 421671910 HYDRO ELECT KY 214389 371389 0 1 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0