Overview
What is Southside Electric Cooperative Inc?
Southside Electric Cooperative Inc, based in Crewe, Virginia, serves as a trusted provider of electricity to its cooperative members. With a team of 156 employees, the organization is dedicated to ensuring the safe and reliable distribution of electrical power. The three largest programs, as indicated by expenses, include the cost of power, other salaries and wages, and depreciation and amortization. This nonprofit's primary mission revolves around delivering electricity efficiently and effectively to its members.
Official website here: www.sec.coop
Is Southside Electric Cooperative Inc legitimate?
Southside Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Southside Electric Cooperative Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $927,164
Professional Fundraising Fees: $0
Other Salaries and Wages: $14,989,439
For more financial information, click here
Official website here: www.sec.coop
What is the mission statement of Southside Electric Cooperative Inc?
Southside Electric Cooperative Inc is dedicated to ensuring the safe and reliable delivery of electricity to its members. This mission is reflected in the cooperative's daily operations, with a significant portion of its resources allocated towards the cost of power. Beyond the technical aspect of electricity distribution, the cooperative also invests in the well-being of its workforce, with substantial expenses going towards salaries and wages. Furthermore, the cooperative makes ongoing investments in its infrastructure, as evidenced by its considerable depreciation and amortization expenses. Overall, Southside Electric Cooperative Inc prioritizes the needs of its members by focusing on the safe and effective distribution of electricity.
Official website here: www.sec.coop
What is the revenue of Southside Electric Cooperative Inc?
Southside Electric Cooperative Inc's revenue in 2023 was $136,136,571.
Official website here: www.sec.coop
Who are the executives of Southside Electric Cooperative Inc and what are their salaries?
The average compensation at Southside Electric Cooperative Inc during 2023 was $102,688. There are 155 employees at Southside Electric Cooperative Inc.
Here are 17 key members and their salaries:
- Compensation: $402,669
- Related: $0
- Other: $174,478
- Compensation: $351,686
- Related: $0
- Other: $95,833
- Compensation: $247,757
- Related: $0
- Other: $83,211
- Compensation: $282,168
- Related: $0
- Other: $46,001
- Compensation: $220,371
- Related: $0
- Other: $63,066
- Compensation: $184,481
- Related: $0
- Other: $43,283
- Compensation: $120,799
- Related: $0
- Other: $9,329
- Compensation: $50,672
- Related: $0
- Other: $13,845
- Compensation: $45,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
Official website here: www.sec.coop
Where can I find the form 990 for Southside Electric Cooperative Inc?
Southside Electric Cooperative Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.sec.coop
Learn more at the official website: www.sec.coop
Mission Statement of Southside Electric Cooperative Inc
Southside Electric Cooperative Inc, a dedicated organization, is committed to ensuring the safe and effective delivery of electricity to its members. This cooperative prioritizes the needs of its community, focusing on the provision of reliable and uninterrupted power. The three largest program services, as indicated by expenses, include the cost of power, other salaries and wages, and depreciation and amortization.
At the heart of Southside Electric Cooperative Inc's operations is the mission to distribute electricity in a manner that ensures the safety and effectiveness for its members. The cooperative's team of professionals works tirelessly to maintain the electrical infrastructure, ensuring that power is delivered to homes and businesses in a dependable manner.
The cost of power is a significant investment for the cooperative, reflecting the expense of purchasing the electricity required to meet the demand of its members. The second largest expense, other salaries and wages, speaks to the cooperative's commitment to its workforce. By employing a well-trained and dedicated team, the cooperative is able to maintain a high level of service and respond promptly to any issues that may arise. The third largest expense, depreciation and amortization, represents the cost of maintaining and upgrading the cooperative's electrical infrastructure. This ongoing investment ensures that the cooperative's electrical systems remain efficient and reliable, enabling the cooperative to continue delivering safe and effective electricity to its members.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Southside Electric Cooperative Inc plays a crucial role in ensuring reliable and efficient access to electricity for its members. By focusing on safe and effective distribution, the cooperative maintains a stable power supply that supports the daily lives and economic activities of residents in the region.
The cooperative invests significantly in its operations, with the largest expenses directed towards the cost of power, which totals over $74 million. This investment underlines its commitment to providing quality service. Furthermore, the expenditure on salaries and wages approaches $15 million, reflecting a dedicated workforce that prioritizes member needs and operational efficiency. Additionally, the cooperative allocates around $13 million for depreciation and amortization, which underscores the focus on maintaining and upgrading infrastructure to meet growing demands.
In essence, Southside Electric Cooperative Inc not only facilitates energy access but also contributes to community development and economic stability in Crewe, VA, and surrounding areas. Its proactive approach in managing resources effectively enhances its impact on the local community, fostering a sustainable energy future.
This information is meant to be a general summary of Southside Electric Cooperative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $188,390
- Program Service Revenue: $135,345,450
- Gross Receipts: $136,266,322
Assets and Liabilities:
- Total Assets: $358,996,187
- Total Liabilities: $230,074,333
- Net Assets: $128,921,854
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE AND DIST. OF ELECT.
Revenue
$131,012,683
CONT. IN AID OF CONST.
Revenue
$4,022,245
CASH PATRONAGE REC.
Revenue
$310,522
Organization Details
Founding Year
1937
Principal Officer
Jason Loehr
Website
www.sec.coopNTEE Category
Code: W80 - Public benefit
If you are a representative of Southside Electric Cooperative Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.