SUMTER ELECTRIC COOPERATIVE INC: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- SUMTER ELECTRIC COOPERATIVE INC (EIN 59-0469125)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-05
- IRS object ID
- 202523099349301987
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-05T14:25:05-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 590548468 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PURVIS GRAY & COMPANY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2347 SE 17TH ST | AddressLine1Txt |
| City | OCALA | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 34471 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 590469125 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUMTER ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SUMT | BusinessNameControlTxt |
| Phone | 3527933801 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O BOX 301 | AddressLine1Txt |
| City | SUMTERVILLE | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 335850301 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CURTIS WYNN | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 3527933801 | PhoneNum |
| Signature | 2025-10-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TIMOTHY WESTGATE CPA | PreparerPersonNm |
| PTIN | P00631621 | PTIN |
| Phone | 3527323872 | PhoneNum |
| Preparation | 2025-10-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CURTIS WYNN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 301 | AddressLine1Txt |
| City | SUMTERVILLE | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 335850301 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $523,581,472 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SECOENERGY.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | AS A NOT-FOR-PROFIT COOPERATIVE, SECO ENERGY PROVIDES RELIABLE AND INNOVATIVE ENERGY SERVICES TO OUR MEMBERS AND COMMUNITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 501 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $30,472 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $26,425 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $482,323,611 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $522,892,624 | CYProgramServiceRevenueAmt |
| PY Investment Income | $634,321 | PYInvestmentIncomeAmt |
| CY Investment Income | $619,381 | CYInvestmentIncomeAmt |
| PY Other Revenue | $30,453 | PYOtherRevenueAmt |
| CY Other Revenue | $30,472 | CYOtherRevenueAmt |
| PY Total Revenue | $482,988,385 | PYTotalRevenueAmt |
| CY Total Revenue | $523,542,477 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $23,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $36,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $4,191,224 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $3,921,290 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,971,964 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $8,387,361 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $461,281,640 | PYOtherExpensesAmt |
| CY Other Expenses | $491,018,401 | CYOtherExpensesAmt |
| PY Total Expenses | $472,468,328 | PYTotalExpensesAmt |
| CY Total Expenses | $503,363,052 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $10,520,057 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $20,179,425 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,223,281,639 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,413,030,769 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $856,344,054 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,009,422,747 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $366,937,585 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $403,608,022 | NetAssetsOrFundBalancesEOYAmt |
| Mission | AS A NOT-FOR-PROFIT COOPERATIVE, SECO ENERGY PROVIDES RELIABLE AND INNOVATIVE ENERGY SERVICES TO OUR MEMBERS AND COMMUNITIES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SALE AND DISTRIBUTION OF ELECTRICITY TO 252,543 ACCOUNTS IN THE COOPERATIVE'S SERVICE AREA. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 108 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 501 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | Yes (1) | NondeductibleContributionsInd |
| Nondeductible Contri Discl | Yes (1) | NondeductibleContriDisclInd |
| Members And Shr Gross Income | $513,977,376 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $4,698,244 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANH REYNOLDS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3527933801 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 330 SOUTH HIGHWAY 301 | AddressLine1Txt |
| City | SUMTERVILLE | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33585 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (28 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| SHANNON WRIGHT | |||||||||
| TRUSTEE | 10.00 | Yes (X) | $45,929 | $0 | $0 | ||||
| SCOTT BOYATT | |||||||||
| TRUSTEE - VICE PRES | 10.00 | Yes (X) | $31,129 | $0 | $0 | Yes (X) | |||
| RICHARD DENNISON | |||||||||
| TRUSTEE - THRU 1/24 | 10.00 | Yes (X) | $751 | $0 | $0 | ||||
| WILLIAM JAMES JR | |||||||||
| TRUSTEE - THRU 2/24 | 10.00 | Yes (X) | $4,506 | $0 | $0 | ||||
| JOSEPH KUSIAK | |||||||||
| TRUSTEE | 10.00 | Yes (X) | $39,029 | $0 | $0 | ||||
| GERALD ANDERSON | |||||||||
| TRUSTEE - PRESIDENT | 15.00 | Yes (X) | $43,229 | $0 | $0 | Yes (X) | |||
| JOYCE ANDERSON | |||||||||
| TRUSTEE | 10.00 | Yes (X) | $35,279 | $0 | $0 | ||||
| MORGAN HATFIELD | |||||||||
| TRUSTEE - SEC/TREAS | 10.00 | Yes (X) | $38,129 | $0 | $0 | Yes (X) | |||
| MICHAEL MUFFETT | |||||||||
| TRUSTEE | 10.00 | Yes (X) | $36,779 | $0 | $0 | ||||
| JAMES LAMOTTE | |||||||||
| TRUSTEE - BEG 4/24 | 10.00 | Yes (X) | $24,777 | $0 | $0 | ||||
| MARTIN PROCTOR | |||||||||
| TRUSTEE - BEG 3/24 | 16.00 | Yes (X) | $28,524 | $0 | $0 | ||||
| CURTIS WYNN | |||||||||
| CEO | 60.00 | $1,077,366 | $0 | $156,534 | Yes (X) | ||||
| LONNIE W PENNINGTON | |||||||||
| VP RELIABILITY & OPERATIONS | 55.00 | $364,312 | $0 | $123,461 | Yes (X) | ||||
| JOHN LASELVA | |||||||||
| COO | 60.00 | $862,480 | $0 | $90,366 | Yes (X) | ||||
| GREGGORY H MORRELL | |||||||||
| CCSO | 60.00 | $705,913 | $0 | $95,551 | Yes (X) | ||||
| KATHRYN E GLORIA | |||||||||
| VP COR COMM & ENG SV | 50.00 | $255,418 | $0 | $16,622 | Yes (X) | ||||
| ANH REYNOLDS | |||||||||
| VP - FIN & ADMIN SVC | 65.00 | $409,388 | $0 | $91,744 | Yes (X) | ||||
| BENJAMIN DAWSON | |||||||||
| COO - INTERIM | 50.00 | $457,299 | $0 | $138,522 | Yes (X) | ||||
| TRACY DE LEMOS | |||||||||
| VP CORP GEN COUNSEL | 55.00 | $397,716 | $0 | $72,610 | Yes (X) | ||||
| APRIL BROWN | |||||||||
| VP OF HUMAN RESOURCES & CORP SVCS | 50.00 | $279,473 | $0 | $55,297 | Yes (X) | ||||
| RALPH LEE GRANT | |||||||||
| VP OF ENGINEERING | 45.00 | $226,584 | $0 | $63,455 | Yes (X) | ||||
| KATHY D JUDKINS | |||||||||
| VP OF COMMUNICATIONS, COMMUNITY & MEMBER EXP | 50.00 | $206,233 | $0 | $68,118 | Yes (X) | ||||
| RONALD V SUMMERS | |||||||||
| DIRECTOR OF TECHNICAL SERVICES | 40.00 | $262,944 | $0 | $139,567 | Yes (X) | ||||
| COREY JAMES PRICE | |||||||||
| LINE TECH-1ST CLASS | 60.00 | $289,437 | $0 | $29,294 | Yes (X) | ||||
| SHAUN T LAMAR | |||||||||
| MGR OF INF TECH | 50.00 | $222,093 | $0 | $82,101 | Yes (X) | ||||
| MARK R BOWLING | |||||||||
| DISTRIBUTION SUPERINTENDENT | 50.00 | $253,124 | $0 | $88,709 | Yes (X) | ||||
| JERRY T BROWN | |||||||||
| DIRECTOR OF SYSTEM OPERATIONS | 50.00 | $267,110 | $0 | $71,079 | Yes (X) | ||||
| JAMES P DUNCAN | |||||||||
| FORMER CEO | 0.00 | $139,385 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $7,004,336 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,383,030 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 221 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| IVY H SMITH COMPANY LLC | |||||
| PO BOX 860786 | ORLANDO | FL | 32886 | UNDERGROUND LINES | $24,127,475 |
| WRIGHT TREE SERVICE INC | |||||
| PO BOX 1718 | DES MOINES | IA | 50306 | VEGETATION MGMT | $18,207,317 |
| PIKE ELECTRIC LLC | |||||
| PO BOX 1000 DEPT 517 | MEMPHIS | TN | 38148 | OVERHEAD LINES | $11,655,061 |
| COLLECTIVE STRATEGIC RESOURCES LLC | |||||
| 2350 HWY 31 NW | HARTSELLE | AL | 35640 | OVERHEAD LINES | $4,555,050 |
| TEMPEST ENERGY LLC | |||||
| PO BOX 1370 | MADISONVILLE | LA | 70447 | VEGETATION MGMT/OVERHEAD LINES | $4,293,242 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 70 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| SALE OF ELECTRICITY | 221000 | $509,509,436 | $509,509,436 | |
| POLE RENTAL | 221000 | $4,691,921 | $4,691,921 | |
| SERVICE CHARGE INCOME | 221000 | $4,467,940 | $4,467,940 | |
| CAPITAL CREDITS - OTHER | 221000 | $4,223,327 | $4,223,327 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $522,892,624 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $420,802 | TotalRevenueColumnAmt |
| Exclusion | $420,802 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $54,114 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $23,642 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $30,472 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $30,472 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $30,472 | UnrelatedBusinessRevenueAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $213,932 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $15,353 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $198,579 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $198,579 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $198,579 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $523,542,477 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $514,175,955 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $30,472 | UnrelatedBusinessRevenueAmt |
| Exclusion | $9,336,050 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,000 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,921,290 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,542,523 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,385 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,705,453 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,382,521 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,081,739 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $310,529,639 |
| DISTRIBUTION EXPENSE - | $54,415,625 |
| ADMINISTRATIVE GENERAL | $23,015,353 |
| DISTRIBUTION EXPENSE - | $21,067,508 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,526,016 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $503,363,052 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,062,037 | BOYAmt |
| EOY | $2,170,952 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,865,764 | BOYAmt |
| EOY | $86,282,963 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,949,474 | BOYAmt |
| EOY | $68,163,570 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,332,618 | BOYAmt |
| EOY | $5,080,883 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,355,656,636 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $255,504,125 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $971,974,142 | BOYAmt |
| EOY | $1,100,152,511 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,097,604 | BOYAmt |
| EOY | $151,179,890 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,223,281,639 | BOYAmt |
| EOY | $1,413,030,769 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,334,207 | BOYAmt |
| EOY | $131,570,279 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $608,377,118 | BOYAmt |
| EOY | $809,491,083 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,583,945 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,048,784 | BOYAmt |
| EOY | $68,361,385 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $856,344,054 | BOYAmt |
| EOY | $1,009,422,747 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,068,175 | BOYAmt |
| EOY | $1,113,485 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,287,225 | BOYAmt |
| EOY | $9,247,766 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $357,582,185 | BOYAmt |
| EOY | $393,246,771 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $366,937,585 | BOYAmt |
| EOY | $403,608,022 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,223,281,639 | BOYAmt |
| EOY | $1,413,030,769 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $20,179,425 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $16,491,012 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $26,518,039 | OtherCostOrOtherBasisAmt |
| Book Value | $26,518,039 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $29,799,725 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,684,871 | DepreciationAmt |
| Book Value | $15,114,854 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $22,582,825 | OtherCostOrOtherBasisAmt |
| Book Value | $22,582,825 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $70,933,081 | OtherCostOrOtherBasisAmt |
| Depreciation | $52,898,129 | DepreciationAmt |
| Book Value | $18,034,952 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,205,822,966 | OtherCostOrOtherBasisAmt |
| Depreciation | $187,921,125 | DepreciationAmt |
| Book Value | $1,017,901,841 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,100,152,511 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PATRONAGE CAPITAL-G&T COOP&SUPP LEND | $147,738,681 | C |
| NRUCFC CAPITAL TERM CERTIFICATES | $2,265,925 | C |
| NRECA DEFERRED COMP ASSETS | $1,173,184 | F |
| MEMBERSHIP FEES IN ASSOC. ORG | $2,100 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $151,179,890 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CONSUMER DEPOSITS | $24,925,870 |
| DEFERRED CREDITS | $43,435,515 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $68,361,385 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $538,033,391 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $18,690,599 | OtherRevenueAmt |
| Revenue Not Reported | $18,690,599 | RevenueNotReportedAmt |
| Revenue Subtotal | $519,342,792 | RevenueSubtotalAmt |
| Other Revenues Not Included | $4,199,685 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $4,199,685 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $523,542,477 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $499,465,402 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $499,465,402 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $3,897,650 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $3,897,650 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $503,363,052 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COOPERATIVE IS A NONPROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(12). ACCORDINGLY,THERE IS NO PROVISION FOR INCOME TAXES IN THE FINANCIAL STATEMENTS. THE COOPERATIVE ADOPTED ACCOUNTING STANDARDS CODIFICATION (ASC) 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE COOPERATIVE'S FINANCIAL STATEMENTS. THE COOPERATIVE DOES NOT BELIEVE IT HAS TAKEN ANY UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. THE COOPERATIVE'S FORM 990'S FOR THE PAST THREE YEARS ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE COOPERATIVE HAS FILED FORM 990T FOR UNRELATED RENTAL INCOME ON COMMUNICATION TOWERS FOR THE YEAR ENDED DECEMBER 31, 2023, AND WILL FILE THE FORM FOR THE YEAR ENDED DECEMBER 31, 2024. THE AMOUNT PAID OR ACCRUED WAS $6,150 AND $5,550, RESPECTIVELY. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | ASSIGNED CAPITAL CREDITS ACCRUED, NOT PAID 18,690,599. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | CASH RECEIVED FROM CAPITAL CREDITS PREVIOUSLY ACCRUED 4,223,327. RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -23,642. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | RETIREMENT OF CAPITAL CREDITS 3,919,886. RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -23,642. ANGEL FUND EXPENSES 1,404. ROUNDING 2. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SEE SCHEDULE I, PART IV | GrantTypeTxt |
| Recipient | 12 | RecipientCnt |
| Cash Grant | $36,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PART III - OTHER ASSISTANCE TO INDIVIDUALS | FormAndLineReferenceDesc |
| Explanation | 12 EDUCATIONAL SCHOLARSHIPS WERE AWARDED TO HIGH SCHOOL SENIORS. APPLICANTS MUST RESIDE IN A HOUSEHOLD SERVED BY SECO ENERGY OR LIVE WITH A PARENT OR LEGAL GUARDIAN WHO IS AN ACTIVE SECO ENERGY MEMBER. SPECIAL EMPHASIS WAS GIVEN TO THOSE AIMING FOR DEGREES IN TECHNOLOGY, BUSINESS, ENGINEERING, OR MATHEMATICS, ESPECIALLY AS THEY RELATE TO THE ENERGY SECTOR. ELIGIBLE CANDIDATES MUST GRADUATE FROM HIGH SCHOOL BY THE END OF THE 2023-2024 ACADEMIC YEAR (MAY/JUNE) AND ENROLL IN A FLORIDA-BASED COLLEGE, UNIVERSITY, OR TECHNICAL SCHOOL BY THE CONCLUSION OF THE SAME YEAR. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (17 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CURTIS WYNN | ||||||||||||||
| CEO | $847,918 | $0 | $130,203 | $0 | $99,245 | $0 | $136,867 | $0 | $19,702 | $0 | $1,233,935 | $0 | $0 | $0 |
| JOHN LASELVA | ||||||||||||||
| COO | $549,000 | $0 | $80,727 | $0 | $232,753 | $0 | $62,208 | $0 | $28,193 | $0 | $952,881 | $0 | $0 | $0 |
| GREGGORY H MORRELL | ||||||||||||||
| CCSO | $410,896 | $0 | $71,218 | $0 | $223,799 | $0 | $75,097 | $0 | $20,489 | $0 | $801,499 | $0 | $0 | $0 |
| BENJAMIN DAWSON | ||||||||||||||
| COO - INTERIM | $360,737 | $0 | $49,343 | $0 | $47,219 | $0 | $109,598 | $0 | $28,959 | $0 | $595,856 | $0 | $0 | $0 |
| ANH REYNOLDS | ||||||||||||||
| VP - FIN & ADMIN SVC | $304,521 | $0 | $45,900 | $0 | $58,967 | $0 | $51,458 | $0 | $40,321 | $0 | $501,167 | $0 | $0 | $0 |
| LONNIE W PENNINGTON | ||||||||||||||
| VP RELIABILITY & OPERATIONS | $264,000 | $0 | $44,518 | $0 | $55,794 | $0 | $89,536 | $0 | $33,960 | $0 | $487,808 | $0 | $0 | $0 |
| TRACY DE LEMOS | ||||||||||||||
| VP CORP GEN COUNSEL | $322,884 | $0 | $49,113 | $0 | $25,719 | $0 | $28,364 | $0 | $44,281 | $0 | $470,361 | $0 | $0 | $0 |
| RONALD V SUMMERS | ||||||||||||||
| DIRECTOR OF TECHNICAL SERVICES | $212,901 | $0 | $31,977 | $0 | $18,066 | $0 | $125,390 | $0 | $14,177 | $0 | $402,511 | $0 | $0 | $0 |
| MARK R BOWLING | ||||||||||||||
| DISTRIBUTION SUPERINTENDENT | $131,715 | $0 | $37,319 | $0 | $84,090 | $0 | $57,634 | $0 | $31,075 | $0 | $341,833 | $0 | $0 | $0 |
| JERRY T BROWN | ||||||||||||||
| DIRECTOR OF SYSTEM OPERATIONS | $213,473 | $0 | $31,977 | $0 | $21,660 | $0 | $53,520 | $0 | $17,559 | $0 | $338,189 | $0 | $0 | $0 |
| APRIL BROWN | ||||||||||||||
| VP OF HUMAN RESOURCES & CORP SVCS | $230,010 | $0 | $28,259 | $0 | $21,204 | $0 | $26,016 | $0 | $29,316 | $0 | $334,805 | $0 | $0 | $0 |
| COREY JAMES PRICE | ||||||||||||||
| LINE TECH-1ST CLASS | $248,415 | $0 | $16,550 | $0 | $24,472 | $0 | $17,753 | $0 | $11,541 | $0 | $318,731 | $0 | $0 | $0 |
| SHAUN T LAMAR | ||||||||||||||
| MGR OF INF TECH | $166,348 | $0 | $30,924 | $0 | $24,821 | $0 | $59,532 | $0 | $22,569 | $0 | $304,194 | $0 | $0 | $0 |
| RALPH LEE GRANT | ||||||||||||||
| VP OF ENGINEERING | $188,108 | $0 | $0 | $0 | $38,476 | $0 | $55,217 | $0 | $8,273 | $0 | $290,074 | $0 | $0 | $0 |
| KATHY D JUDKINS | ||||||||||||||
| VP OF COMMUNICATIONS, COMMUNITY & ME | $171,415 | $0 | $9,273 | $0 | $25,545 | $0 | $54,465 | $0 | $13,688 | $0 | $274,386 | $0 | $0 | $0 |
| KATHRYN E GLORIA | ||||||||||||||
| VP COR COMM & ENG SV | $161,818 | $0 | $34,610 | $0 | $58,990 | $0 | $11,010 | $0 | $5,612 | $0 | $272,040 | $0 | $0 | $0 |
| JAMES P DUNCAN | ||||||||||||||
| FORMER CEO | $0 | $0 | $0 | $0 | $139,385 | $0 | $0 | $0 | $0 | $0 | $139,385 | $0 | $0 | $0 |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SEMINOLE ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | SEE PART V | RelationshipDescriptionTxt |
| Transaction | $310,529,639 | TransactionAmt |
| Transaction | PURCHASE POWER | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART V - ADDITIONAL INFORMATION | FormAndLineReferenceDesc |
| Explanation | CURTIS WYNN, CEO, SCOTT BOYATT, TRUSTEE, AND GERALD ANDERSON, TRUSTEE, SERVE ON SEMINOLE ELECTRIC COOPERATIVE, INC'S BOARD OF TRUSTEES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | CLASSES OF MEMBERS OR STOCKHOLDERS THE SUMTER ELECTRIC COOPERATIVE HAS MEMBERS COMPRISED OF ANY PERSON, FIRM, ASSOCIATION, CORPORATION OR SUBDIVISION WHO AGREES TO (1) PURCHASE UTILITY SERVICES FROM THE COOPERATIVE, (2) COMPLY WITH THE ARTICLES OF INCORPORATION AND BY-LAWS, AND (3) PAY THE MEMBERSHIP FEE. |
| FORM 990, PART VI, SECTION A, LINE 7A | ELECTION OF MEMBERS AND THEIR RIGHTS MEMBERS VOTE FOR A TRUSTEE TO REPRESENT THEIR DISTRICT. |
| FORM 990, PART VI, SECTION A, LINE 7B | DECISIONS SUBJECT TO APPROVAL OF MEMBERS THE BOARD OF TRUSTEES IS REQUIRED TO RECEIVE MEMBER APPROVAL ON ALL BY-LAW AND ARTICLE OF INCORPORATION CHANGES. MEMBER APPROVAL IS OBTAINED THROUGH A VOTE AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION B, LINE 11B | ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE BOARD FINANCE AND AUDIT COMMITTEE, CHIEF EXECUTIVE OFFICER, VICE PRESIDENT OF FINANCIAL & ADMINISTRATIVE SERVICES, AND CONTROLLER HAVE REVIEWED AND APPROVED THE 990. THE BOARD OF TRUSTEES RECEIVED AN ELECTRONIC COPY OF THE FINAL 990 PRIOR TO FILING. TRUSTEES WERE ASKED FOR COMMENTS PRIOR TO SUBMISSION. |
| FORM 990, PART VI, SECTION B, LINE 12C | ENFORCEMENT OF CONFLICT POLICY THE CONFLICT OF INTEREST POLICY COVERS ALL COOPERATIVE PERSONNEL, INCLUDING TRUSTEES AND EMPLOYEES. ANY CONFLICTS ARE REQUIRED TO BE REPORTED TO THE COMPLIANCE OFFICER OR THE BOARD OF TRUSTEES. WILLFUL VIOLATION OF THE POLICY MAY REQUIRE DRASTIC ACTION, INCLUDING DISMISSAL FROM THE BOARD OR TERMINATION OF EMPLOYMENT. |
| FORM 990, PART VI, SECTION B, LINE 15 | FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL THE BOARD OF TRUSTEES REVIEW, EVALUATE AND APPROVE ANNUALLY THE CEO'S COMPENSATION. A VARIETY OF SOURCES ARE UTILIZED TO DETERMINE SALARY: FORM 990 FROM OTHER ORGANIZATIONS AND REPUTABLE MARKET COMPENSATION SURVEYS. FORM 990, PART VI, LINE 15B - COMPENSATION PROCESS FOR OFFICERS THE CEO REVIEWS AND APPROVES ON AN ANNUAL BASIS SALARIES FOR ALL EMPLOYEES INCLUDING EXECUTIVES. VARIOUS REPUTABLE MARKET COMPENSATION SURVEYS, FORM 990 FROM OTHER COOPERATIVES ARE UTILIZED TO DETERMINE SALARIES. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS DISCLOSURE EXPLANATION NO DOCUMENTS AVAILABLE TO THE PUBLIC |
| FORM 990, PART IX, LINE 4 - BENEFITS PAID TO OR FOR MEMBERS | THE IRS' INSTRUCTIONS FOR THE 2024 VERSION OF THE FORM 990, PART IX, LINE 4 STATE: "ENTER THE PAYMENTS MADE BY THE ORGANIZATION TO PROVIDE BENEFITS TO MEMBERS (...PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS). STATEMENT OF FUNCTIONAL EXPENSES, LINE 4 IS ENTITLED "BENEFITS PAID TO OR FOR MEMBERS." FOR PURPOSES OF THIS FORM 990, THE AMOUNT REPORTED ON LINE 4 REPRESENTS THE AMOUNT REPORTED IN THE AUDITED STATEMENT OF REVENUE AND CHANGES IN PATRONAGE CAPITAL FOR THE YEAR ENDED DECEMBER 31, 2024 AND OTHER BENEFITS PAID TO MEMBER IN THE AMOUNT OF $3,919,886 AND $1,404 OF UTILITY ASSISTANCE PROVIDED TO VARIOUS MEMBERS. |
| FORM 990, PART IX, LINE 24 (E) - TAX EXPENSE DISCLOSURE | THE SOFTWARE USED TO PREPARE THE FORM 990 IS NOT CURRENTLY DESIGNED TO REPORT INCOME TAX EXPENSE FROM UNRELATED BUSINESS INCOME SEPARATELY ON LINE 24 AS REQUIRED BY THE INSTRUCTIONS FOR FORM 990. INCOME TAX EXPENSE FOR UNRELATED BUSINESS INCOME IS THEREFORE INCLUDED IN LINE 24(E). THE AMOUNT OF FEDERAL AND STATE INCOME TAX EXPENSE INCLUDED IN LINE 24(E) FROM UNRELATED BUSINESS INCOME IS $5,550. |
| FORM 990, PART XI, LINE 9: | INCREASE IN MEMBERSHIP 45,310. ASSIGNED CAPITAL CREDITS, NOT PAID 18,690,599. CHANGE IN OTHER EQUITIES 1,165,720. UNCLAIMED PATRONAGE CAPITAL 1,016,483. CHANGE IN AOCI -205,179. ANGEL FUNDS EXPENSES 1,404. CAPITAL CREDITS, CASH RECEIVED -4,223,327. ROUNDING 2. |