2023-10-31T14:23:45-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2022-01-01 370525575 SOUTHWESTERN ELECTRIC COOPERATIVE INC SOUT 8006378667 525 US ROUTE 40 GREENVILLE IL 62246 REBECCA JACOBSON CFO 8006378667 2023-10-30 1 REBECCA JACOBSON 999009999 1 KATHERINE LUTZKE CPA P01760889 5072802300 2023-10-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BOBBY WILLIAMS JR 525 US ROUTE 40 GREENVILLE IL 62246 64321754 0 X WWW.SWECI.COM X 1939 IL AN ELECTRIC COOPERATIVE THAT PROVIDES ELECTRIC DISTRIBUTION SERVICE TO ITS MEMBERS. 9 9 85 0 0 0 0 0 61893176 63364855 57358 61414 1403952 895485 63354486 64321754 43719 30612 9290776 3510653 813163 1135923 0 0 0 52250128 59037518 62397786 63714706 956700 607048 164346209 186571705 99790694 120462733 64555515 66108972 X THE CORPORATE PURPOSE AND GOAL IS, IN ACCORDANCE WITH AND THROUGH THE AUTHORITY GRANTED BY THE LAWS OF THE STATE OF ILLINOIS AND THE COOPERATIVE'S ARTICLES OF INCORPORATION AND BYLAWS, TO PROVIDE ENERGY AND OTHER SERVICES TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH PRUDENT UTILITY PRACTICES. 0 0 THE COOPERATIVE PROVIDES ELECTRIC SERVICE TO 24,043 MEMBERS IN BOND, MADISON, AND FAYETTE COUNTIES IN ILLINOIS. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 33 0 85 1 0 0 0 0 0 62175421 6698238 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 0 1 1 0 X X X ANNETTE HARTLIEB 8006378667 525 US ROUTE 40 GREENVILLE IL 62246 ANN SCHWARM PRESIDENT 5.48 X X 25712 0 0 JERRY GAFFNER VICE PRESIDENT 6.37 X X 25612 0 0 ANNETTE HARTLIEB SECRETARY 5.77 X X 25412 0 0 SANDRA GRAPPERHAUS TREASURER 5.73 X X 25112 0 0 SANDRA NEVINGER DIRECTOR 5.47 X 24812 0 0 THEODORE WILLMAN DIRECTOR 2.50 X 24812 0 0 JARED STINE DIRECTOR 4.88 X 25612 0 0 WILLIAM JENNINGS DIRECTOR 7.17 X 25612 0 0 MARVIN WARNER DIRECTOR 3.44 X 5112 0 20500 BOBBY WILLIAMS JR CEO 50.00 X 262076 0 143948 MARVIN AYALA COO 50.00 X 196253 0 21314 REBECCA JACOBSON CFO 50.00 X 159398 0 62463 ANDREW JONES VP BUSINESS DEVELOPMENT 50.00 X 165636 0 34209 RICHARD MERSINGER MAINTENANCE FOREMAN 49.38 X 163669 0 107366 JOEL LAFRANCE SYSTEM-WIDE TROUBLMAN FOREMAN 49.28 X 163351 0 38725 ANDREW WESSEL CONSTRUCTION FOREMAN 49.10 X 162953 0 46377 MIKE WILLMAN VP OF OPERATIONS 50.00 X 162579 0 96894 BARBARA TEDRICK DIRECTOR - FORMER 0.00 X 26280 0 0 RANDY WOLF DIRECTOR - FORMER 0.00 X 35883 0 0 1705886 0 571796 40 1 1 0 JF ELECTRIC INC PO BOX 570 EDWARDSVILLE IL 62025 ELECTRICAL CONTRACTING 2005524 ASPLUNDH TREE EXPERT CO 1700 SOLUTIONS CENTER CHICAGO IL 60677 RIGHT OF WAY CLEARANCE 1360501 PROENERGY SERVICES LLC PO BOX 677066 DALLAS TX 75267 TURBINE ENGINE REPAIR SERVICES 885917 GDS ASSOCIATES INC 1850 PARKWAY PLACE SUITE 800 MARIETTA GA 30067 POWER SYSTEMS CONSULTING SERVICES 459095 DUNCAN WEINBERG GENZER & PEMBROKE PC 1667 K STREET NW SUITE 700 WASHINGTON DC DC 20006 UTILITY LEGAL SERVICES 134288 6 SALE OF POWER 221000 63364855 63364855 63364855 61414 61414 CAPITAL CREDITS 900099 932841 932841 FORFEITED DISCOUNTS & SERVICE REV 900099 349854 349854 MISC INCOME/TURBINE LOSS 221000 -387210 -387210 895485 64321754 64260340 0 61414 20612 10000 3510653 1135923 3968188 5771224 COST OF POWER 33289935 ADMIN & GENERAL EXPENSE 5491027 DISTRIBUTION EXPENSE - 5344517 DISTRIBUTION EXPENSE - 1747980 3424647 63714706 2633727 5300978 368657 1121329 4510296 6070644 590888 504664 1631910 2292354 410972 376520 208559802 59570341 145756157 148989461 94374 46544 4294576 4604350 4054652 17264861 164346209 186571705 4358632 6199577 89658500 107738556 5773562 6524600 99790694 120462733 X 0 0 0 0 64555515 66108972 64555515 66108972 164346209 186571705 X 607048 946409 X X 0 1 X 1 0 685988 685988 3850317 1103384 2746933 189646358 54346904 135299454 14377139 4120053 10257086 148989461 DEFERRED CHARGES 17250880 ACCRUED INTEREST 13981 17264861 ACCUMULATED PROVISION FOR PENSION & BENEFITS 46544 CONSUMER DEPOSITS 1128233 DEFERRED CREDITS 5349823 6524600 X 64321754 0 64321754 0 64321754 60204053 0 60204053 3510653 3510653 63714706 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (THE CODE). THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS ALLOCATED 3,510,653. 1 ANDERSON HOSPITAL FOUNDATION 6800 STATE ROUTE 162 MARYVILLE IL 62062 274548522 501(C)(3) 5500 0 THE COOPERATIVE SPONSORS A TABLE AT THE ANNUAL CHARITY AUCTION AND A TEAM AT THE ANNUAL GOLF TOURNAMENT. 1 0 ACADEMIC SCHOLARSHIPS 10 10000 PART I, LINE 2: SCHOLARSHIP FUNDS ARE GIVEN TO QUALIFYING RECIPIENTS SELECTED THROUGH AN EXTENSIVE APPLICATION PROCESS CONDUCTED BY THE BOARD OF DIRECTORS SCHOLARSHIP COMMITTEE. ONCE SELECTED, THE FUNDS ARE DISTRIBUTED TO THOSE THAT HAVE EFFECTIVE OVERSIGHT IN THE USE OF THE ASSISTANCE GIVEN, USUALLY THE COLLEGE OR UNIVERSITY. ANY OTHER ASSISTANCE IS PROVIDED FOR A SPECIFIC PURPOSE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. PART III, COLUMN (B): EACH SCHOLARSHIP IS $1,000 X X X X 0 0 0 BOBBY WILLIAMS JR CEO 260000 0 0 0 2076 0 122015 0 21933 0 406024 0 0 0 RICHARD MERSINGER MAINTENANCE FOREMAN 163153 0 0 0 516 0 75016 0 32350 0 271035 0 0 0 MIKE WILLMAN VP OF OPERATIONS 159657 0 0 0 2922 0 75425 0 21469 0 259473 0 0 0 REBECCA JACOBSON CFO 157568 0 0 0 1830 0 37014 0 25449 0 221861 0 0 0 MARVIN AYALA COO 194415 0 0 0 1838 0 0 0 21314 0 217567 0 0 0 ANDREW WESSEL CONSTRUCTION FOREMAN 162768 0 0 0 185 0 33745 0 12632 0 209330 0 0 0 JOEL LAFRANCE SYSTEM-WIDE TROUBLMAN FOREMAN 162425 0 0 0 926 0 5575 0 33150 0 202076 0 0 0 ANDREW JONES VP BUSINESS DEVELOPMENT 161904 0 0 0 3732 0 12725 0 21484 0 199845 0 0 0 RANDY WOLF DIRECTOR - FORMER 35883 0 0 0 0 0 0 0 0 0 35883 0 35883 0 BARBARA TEDRICK DIRECTOR - FORMER 26280 0 0 0 0 0 0 0 0 0 26280 0 26280 0 SCHEDULE J, PART II: DEFERRED COMPENSATION PAID OUT TO PRIOR BOARD MEMBERS BARB TEDERICK AND RANDY WOLF IN 2022 FOR THEIR PARTICIPATION ON THE BOARD OF DIRECTORS PRIOR TO 2022. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS REQUIRED. ANY PERSON WHO MEETS THE QUALIFICATIONS FOR MEMBERSHIP, AS OUTLINED IN SECTION 2 OF THE BYLAWS, HAS THE RIGHT TO PARTICIPATE IN THE ORGANIZATION'S GOVERNANCE OR TO RECEIVE DISTRIBUTION OF INCOME OR ASSETS FROM THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A PER SECTION 2(A)(2) OF THE BYLAWS "MEMBERS SHALL BE ENTITLED TO VOTE AT ANY MEETING OF THE COOPERATIVE AND SHALL BE ENTITLED TO BE ELECTED A DIRECTOR OF THE COOPERATIVE SUBJECT TO COMPLIANCE WITH THE QUALIFICATIONS STATED IN SECTION 5". FORM 990, PART VI, SECTION A, LINE 7B SECTION 4(C) OF THE BYLAWS COVERS VOTING ON ISSUES DULY PRESENTED TO THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE INDEPENDENT ACCOUNTING FIRM WITH ASSISTANCE BY THE CFO, REVIEWED AND APPROVED BY THE CEO AND CFO, AND THEN PRESENTED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BY THE INHERENT INTIMATE NATURE AMONG ITS MEMBERS, THE BOARD REGULARLY MONITORS THIS POLICY THROUGH DISCUSSION AND INTERACTION WITH THE PUBLIC AND THE MEMBERS OF THE COOPERATIVE. EACH BOARD MEMBER ALSO COMPLETES A CONFLICT OF INTEREST FORM ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COOPERATIVE PARTICIPATES ANNUALLY IN A NATIONAL COMPENSATION STUDY CONDUCTED BY NRECA IN ORDER TO MONITOR AND COMPARE THE RATE OF COMPENSATION FOR ITS CEO. ANNUALLY, EACH DIRECTOR COMPLETES AN EXTENSIVE PERFORMANCE EVALUATION ON THE CEO FOR REVIEW AND DISCUSSION WITH THE COMPLETE BOARD. THE BOARD THEN DETERMINES THE RATE OF COMPENSATION FOR THE CEO. THIS PROCESS IS DOCUMENTED IN THE BOARD MINUTES. THE CEO SETS THE STAFF SALARIES USING DATA FROM THE NATIONAL COMPENSATION STUDY CONDUCTED BY NRECA AND EVALUATION OF JOB PERFORMANCE. THIS PROCESS IS DOCUMENTED IN THE PERSONNEL FILES OBTAINABLE FROM HUMAN RESOURCES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES GOVERNING DOCUMENTS AND POLICIES AVAILABLE TO ITS MEMBERS UPON REQUEST AT THE CORPORATE HEADQUARTERS. THE COOPERATIVE ALSO PLACES BYLAWS/MEMBER GUIDES AND FINANCIALS ON ITS WEBSITE FOR INSPECTION. FORM 990, PART XI, LINE 9: CAPITAL CREDITS RETIRED -2,873,065. OTHER ADJUSTMENTS 308,821. PATRONAGE DIVIDENDS ALLOCATED 3,510,653. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT OF THE ANNUAL FINANCIAL STATEMENT AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990.