Nonprofit · EIN 59-0472323
SUWANNEE VALLEY ELECTRIC COOPERATIVE INC
Tax-exempt · LIVE OAK, FL 32064
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $77,933,533 | $77,933,533 | $0 | $345,183,409 | $279,068,628 | $66,114,781 |
| December 31, 2023 | 990 | $69,962,003 | $69,962,003 | $0 | $261,730,501 | $199,100,725 | $62,629,776 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $77,537,700
- Investment income
- $772,261
- Net rental income
- $2,073,509
- Net gain from sales of assets
- $237,647
- Net income from sales of inventory
- $65,162
- Other revenue
- -$376,428
Expenses
- Grants and similar amounts paid
- $15,000
- Benefits paid to members
- $3,071,933
- Compensation of officers, directors and key employees
- $1,211,396
- Salaries, compensation and benefits (total)
- $1,211,396
- Professional fundraising fees
- $0
- Depreciation
- $7,218,756
Balance sheet and other
- Total assets, start of year
- $261,730,501
- Total assets, end of year
- $345,183,409
- Total liabilities, end of year
- $279,068,628
- Net assets, end of year
- $66,114,781
- Land, buildings and equipment
- $161,627,169
- Gross unrelated business income
- $2,441,549
- Gross receipts
- $77,941,598
- Employees
- 101
- Volunteers
- 0
- Year formed
- 1937
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Mike McWaters | CEO Officer | 54 | $362,684 | $103,583 |
| Kurt Miller | Director of Engineering Key employee | 46 | $219,569 | $67,396 |
| Mark Mosley | Director of Safety Key employee | 45 | $204,095 | $52,171 |
| Trevor Touchton | Manager of Power Technical Highest-paid employee | 45 | $155,242 | $53,273 |
| Christine Moor | CFO Officer | 42 | $159,795 | $42,103 |
| John Robinson | Director of Member Service Highest-paid employee | 45 | $163,949 | $36,383 |
| Jodi Hughes | Journeyman Lineman Highest-paid employee | 54 | $151,796 | $30,045 |
| Jimmy Taylor Jr | General Foreman Highest-paid employee | 53 | $135,216 | $32,932 |
| Jason Carroll | Manager of Operations Highest-paid employee | 44 | $132,699 | $33,632 |
| Tyler Putnal | Director/Trustee Trustee or director, Officer | 2.7 | $8,500 | $0 |
| Cynthia Boyette | Secretary Trustee or director | 0.8 | $7,750 | $0 |
| Charles Walker | Director/Trustee Trustee or director, Officer | 2.7 | $7,500 | $0 |
| Francene Folsom | Treasurer Trustee or director | 0.9 | $7,000 | $0 |
| Hugh Hunter | Director/Trustee Trustee or director | 1 | $6,500 | $0 |
| Laure Bee Roberson III | Director/Trustee Trustee or director, Officer | 1 | $6,500 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jerry Goff | Vice President Trustee or director | 1.6 | $6,000 |
| Michael Adams | President Trustee or director, Officer | 1 | $6,000 |
| Sidney Lord | Director/Trustee Trustee or director | 0.7 | $3,500 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Mike McWaters | CEO Officer | 50 | $310,312 | $179,441 |
| Kurt Miller | Director of Engineering Key employee | 40 | $195,598 | $98,807 |
| Mark Mosley | Director of Safety Key employee | 50 | $178,751 | $76,192 |
| John Robinson | Director of Member Service Highest-paid employee | 44 | $140,372 | $47,647 |
| Christine Moor | CFO Officer | 45 | $144,160 | $26,287 |
| Trevor Touchton | Manager of Power Technical Highest-paid employee | 45 | $130,401 | $34,803 |
| Jodi Hughes | Journeyman Lineman Highest-paid employee | 62 | $132,300 | $32,463 |
| Hunter Ash | Journeyman Lineman Highest-paid employee | 55 | $118,979 | $28,751 |
| Crystal Ecker | General Counsel Highest-paid employee | 45 | $124,693 | $13,947 |
| Cynthia Boyette | Secretary Trustee or director | 1 | $9,500 | $0 |
| Tyler Putnal | Director/Trustee Trustee or director, Officer | 2.4 | $9,500 | $0 |
| Charles Walker | Treasurer Trustee or director, Officer | 3.7 | $9,250 | $0 |
| Francene Folsom | Director/Trustee Trustee or director | 1.4 | $8,750 | $0 |
| Hugh Hunter | Director/Trustee Trustee or director | 1 | $7,750 | $0 |
| Laure Bee Roberson III | Director/Trustee Trustee or director, Officer | 1 | $7,250 | $0 |
| Michael Adams | President Trustee or director, Officer | 1 | $6,750 | $0 |
| Jerry Goff | Vice President Trustee or director | 1.6 | $6,500 | $0 |
| Sidney Lord | Director/Trustee Trustee or director | 0.9 | $5,500 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 160, LIVE OAK, FL 32064-0160
- Principal officer (990 for 2024)
- Michael S McWaters, PO Box 160, Live Oak, FL 320640160
- Signed the 990
- Michael S McWaters, CEO
- Phone
- (386) 362-2226
- Website
- www.svec-coop.com
- Return prepared by
- Jackson Thornton & Co PC
Mission
The Cooperative's responsibility and aim as a member owned organization is to provide excellent and reliable customer service with competitive rates while enhancing the quality of life of residents in the Suwannee River Valley.
Program accomplishments
- Suwannee Valley Electric Coop provides electric service to over 20,000 members in 4 counties in the state of Florida.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 59-0472323
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1947
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $345,183,409
- Income (IRS master file)
- $77,941,598
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $77,933,533 | $77,933,533 | $345,183,409 | XML |
| 990 | December 2023 | $69,962,003 | $69,962,003 | $261,730,501 | XML |
| 990 | December 2022 | $76,170,256 | $76,170,256 | $150,357,185 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 59-0472323).
Questions about SUWANNEE VALLEY ELECTRIC COOPERATIVE INC
- What is the EIN of SUWANNEE VALLEY ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of SUWANNEE VALLEY ELECTRIC COOPERATIVE INC is 59-0472323.
- Is SUWANNEE VALLEY ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1947.
- Are donations to SUWANNEE VALLEY ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SUWANNEE VALLEY ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SUWANNEE VALLEY ELECTRIC COOPERATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SUWANNEE VALLEY ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SUWANNEE VALLEY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names Michael S McWaters.
- Who are the officers and directors of SUWANNEE VALLEY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 18 people; 18 received compensation from the organization, the highest $362,684 (Mike McWaters, CEO).
- How much revenue does SUWANNEE VALLEY ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $77,933,533, expenses of $77,933,533 and total assets of $345,183,409 at year end.
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