2025-11-06T14:28:46-06:00 2024-12-31 363133136 LWG CPAS & ADVISORS 101 W OHIO ST STE 1401 INDIANAPOLIS IN 46204 990 2024-01-01 350672654 SOUTHERN INDIANA REC INC SOUT 8125472316 PO BOX 219 TELL CITY IN 47586 STEVE SEIBERT CEO 8125472316 2025-11-06 1 1 BRIAN D CHERRY P01355823 3176344747 2024 2025-03-06 01:10:19Z SOUTHERN INDIANA POWER STEVE SEIBERT PO BOX 219 TELL CITY IN 47586 46079288 0 X WWW.SINPWR.COM X 1939 IN TO PROVIDE SAFE, RELIABLE, AND AFFORDABLE POWER WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS 7 7 32 0 1461 461 0 0 42120643 43492893 800728 965370 1520635 1579352 44442006 46037615 0 0 2661540 2478079 2944706 3160360 0 0 0 38835760 40399176 44442006 46037615 0 0 84203592 84439254 35736080 34271081 48467512 50168173 TO PROVIDE SAFE, RELIABLE, AND AFFORDABLE POWER WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS 0 0 46010670 43492893 DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 7,556 MEMBERS ON A COOPERATIVE BASIS. 46010670 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 29 0 32 1 1 1 0 0 0 0 0 0 45067310 970305 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 IN X AMY RAMSEY 8125472316 1776 10TH STREET PO BOX 219 TELL CITY IN 47586 JEFF VOGEL CHAIRMAN 3.50 X X 10800 0 0 GARY WANINGER VICE CHAIRMAN 3.90 X X 9000 0 0 RANDALL KLEAVING DIRECTOR 3.20 X 13200 0 0 DIRK STEIN SECRETARY/TREASURER 4.20 X X 9800 0 0 DAVID LYNCH DIRECTOR 3.90 X 11800 0 0 CHRIS BURROUGHS DIRECTOR 3.20 X 10050 0 0 KYLE KNIERIEM DIRECTOR 3.50 X 10400 0 0 STEVEN SEIBERT PRESIDENT/CEO 50.00 X 250824 0 76914 STEPHEN FORTWENDEL MANAGER OF OPERATIONS 50.00 X 123669 0 46820 TODD HAMMOND MANAGER OF ENGINEERING 40.00 X 114051 0 49351 TRAVIS GOFFINET JOURNEYMAN LINEMAN 45.00 X 125352 0 41845 CLINT HEEKE JOURNEYMAN LINEMAN 44.00 X 116254 0 31018 JARRETT HAWHEE JOURNEYMAN LINEMAN 45.00 X 109050 0 20758 914250 0 266706 14 0 1 0 HOFFMAN TREE SERVICE LLC 2880 S 125 E WASHINGTON IN 47501 TREE TRIMMING 1777685 ELECTRICOM LLC 1660 W HOSPITAL RD PAOLI IN 47454 ELECTRIC CONSTRUCTION 1077081 NISC PO BOX 1147 MANDAN ND 58554 SOFTWARE PROVIDER 258093 TERRY ELECTRICAL SERVICES 8721 STATE RD 37 TELL CITY IN 47586 FIBER CONSTRUCTION 236205 4 REVENUE-ELECTRIC SALES 221000 43492893 43492893 43492893 957241 957241 734246 0 734246 734246 734246 49802 41673 8129 8129 8129 PATRONAGE CAPITAL 221000 840171 840171 MISC 221000 3474 3474 MISC. INCOME/LOSS CO-OP ONE 221000 1461 1461 845106 46037615 44333064 1461 1703090 X 2478079 2478079 402788 402788 2757572 2757572 8492 8492 14140 14140 4313 4313 21607 21607 96414 96414 1122833 1122833 2514346 2514346 71762 71762 PURCHASED POWER 33026683 33026683 MAINTENANCE EXPENSE 1972605 1972605 ADMINISTRATIVE & GENERA 459477 459477 OPERATIONS EXPENSE 319912 319912 766592 766592 46037615 46010670 26945 0 1262505 578357 4814479 2500000 4497936 4412830 264526 105754 604784 635515 218477 106184 77954966 22590796 52050026 55364170 20490859 20736444 84203592 84439254 5092897 5581835 29907139 27889620 736044 799626 35736080 34271081 X 0 0 2001912 2068185 46465600 48099988 48467512 50168173 84203592 84439254 X 0 1700661 X X 0 1 X 1 0 2000 1 INDIANA ELECTRIC COOPERATIVES STATE PAC 11805 N PENNSYLVANIA ST CARMEL IN 46032 351998087 2000 45004 45004 2693980 1606761 1087219 15589014 4262618 11326396 59626968 16721417 42905551 55364170 PATRONAGE CAPITAL - OTHER 6138214 C PATRONAGE CAPITAL - HOOSIER ENERGY 14598230 C 20736444 CONSUMER DEPOSITS 103598 ACCUM PROVISION FOR MEDICAL LEAVE 665555 CUSTOMER ADVANCES-CONSTRUCTION 30473 799626 X 46037615 0 46037615 0 46037615 43559536 0 43559536 2478079 2478079 46037615 PART X, LINE 2: THE REC FOLLOWS "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES." THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLE PROVIDES DETAILED GUIDANCE FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS. THE ACCOUNTING PRINCIPLE REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. THE ADOPTION OF THIS ACCOUNTING PRINCIPLE DOES NOT HAVE A MATERIAL EFFECT ON ITS FINANCIAL POSITION, RESULTS OF OPERATIONS, OR CASH FLOWS AS THE REC DOES NOT BELIEVE THEY ARE TAKING ANY UNCERTAIN TAX POSITIONS. PART XII, LINE 4B - OTHER ADJUSTMENTS: 2024 MARGINS ALLOCATED TO MEMBERS 2,478,079. X X X 0 0 0 STEVEN SEIBERT PRESIDENT/CEO 250824 0 0 0 0 0 53623 0 23291 0 327738 0 0 0 STEPHEN FORTWENDEL MANAGER OF OPERATIONS 123669 0 0 0 0 0 18431 0 28389 0 170489 0 0 0 TRAVIS GOFFINET JOURNEYMAN LINEMAN 125352 0 0 0 0 0 21964 0 19881 0 167197 0 0 0 TODD HAMMOND MANAGER OF ENGINEERING 114051 0 0 0 0 0 21015 0 28336 0 163402 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 SOUTHERN INDIANA POWER IS A COOPERATIVE OWNED BY APPROXIMATELY 7,500 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS AT AN ANNUAL MEETING DEPENDING ON THE DISTRICT THEY LIVE IN. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS TO BE MADE BY THE BOARD OF DIRECTORS MUST BE APPROVED BY MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS DISTRIBUTED TO THE REC BOARD PRIOR TO FILING FOR REVIEW AND COMMENTS FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE PRESIDENT/CEO. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS HAS A WAGE AND SALARY COMMITTEE THAT SETS THE PRESIDENT/CEO'S SALARY BASED ON AN ANNUAL PERFORRMANCE REVIEW AND THE NRECA ANNUAL COMPENSATION SURVEY FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 7-10 AS AN ELECTRIC COOPERATIVE THAT FOLLOWS RUS ACCOUNTING, WE EITHER CAPITALIZE OR EXPENSE THE COST OF PAYROLL (PAYROLL, TAXES, AND EMPLOYEE BENEFITS). THEREFORE, THE AMOUNT CANNOT BE BROKEN DOWN LINE BY LINE ON THE STATEMENT OF FUNCTIONAL EXPENSES. THE AMOUNT OF PAYROLL THAT HAS BEEN CAPITALIZED ALSO INCLUDES PAYROLL TAXES AND EMPLOYEE BENEFITS, WHICH IS INCLUDED IN THE BALANCE SHEET. IN ADDITION, THE AMOUNT FROM YEAR TO YEAR TO BE CAPITALIZED VS EXPENSED VARIES BASED ON THE WORK BEING PERFORMED. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ASSIGNABLE MARGINS 2,478,079. PATRONAGE REFUNDS -843,691. UNCLAIMED CAPITAL CHECKS 66,273. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN THE PROCESS REGARDING OVERSIGHT OF THE AUDIT FROM PRIOR YEAR.