Nonprofit · EIN 63-0193841
SOUTH ALABAMA ELECTRIC COOPERATIVE
Tax-exempt · TROY, AL 36081
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $59,251,788 | $60,251,788 | -$1,000,000 | $177,655,969 | $97,488,548 | $80,167,421 |
| December 31, 2023 | 990 | $55,703,765 | $58,703,765 | -$3,000,000 | $169,182,120 | $93,752,276 | $75,429,844 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $57,404,286
- Investment income
- $1,059,500
- Net rental income
- $433,665
- Net gain from sales of assets
- $23,236
- Other revenue
- $788,002
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $6,169,207
- Compensation of officers, directors and key employees
- $615,211
- Salaries, compensation and benefits (total)
- $615,211
- Professional fundraising fees
- $0
- Depreciation
- $4,643,113
Balance sheet and other
- Total assets, start of year
- $169,182,120
- Total assets, end of year
- $177,655,969
- Total liabilities, end of year
- $97,488,548
- Net assets, end of year
- $80,167,421
- Land, buildings and equipment
- $129,801,030
- Publicly traded securities
- $11,110,511
- Gross receipts
- $59,373,480
- Employees
- 62
- Volunteers
- 0
- Year formed
- 1937
- State of legal domicile
- AL
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 |
|---|---|---|---|---|
| LRI | General Manager Officer | 40 | $301,701 | $85,095 |
| WWW | Employee Highest-paid employee | 40 | $193,983 | $61,684 |
| HMR | Employee Highest-paid employee | 40 | $152,638 | $56,182 |
| ES | Employee Highest-paid employee | 40 | $142,703 | $54,780 |
| RLB | Employee Highest-paid employee | 47 | $130,536 | $44,956 |
| JHR | Employee Highest-paid employee | 46 | $124,602 | $44,921 |
| BS | Trustee Trustee or director | 9 | $35,795 | $0 |
| JHM | Trustee Trustee or director, Officer | 12 | $33,125 | $0 |
| JG | Trustee Trustee or director | 10 | $31,790 | $0 |
| TS | Trustee Trustee or director | 10 | $31,345 | $0 |
| CRT | Trustee Trustee or director, Officer | 9 | $28,675 | $0 |
| BF | Trustee Trustee or director, Officer | 7 | $26,005 | $0 |
| NDG | Trustee Trustee or director, Officer | 4 | $21,015 | $0 |
| DK | Trustee Trustee or director, Officer | 6 | $20,665 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LRI | General Manager Officer | 40 | $291,485 | $91,357 |
| WWW | Employee Highest-paid employee | 40 | $190,059 | $64,710 |
| HMR | Employee Highest-paid employee | 40 | $149,915 | $56,696 |
| ES | Employee Highest-paid employee | 40 | $137,062 | $49,698 |
| CMD | Employee Highest-paid employee | 45 | $131,524 | $44,965 |
| RLB | Employee Highest-paid employee | 45 | $127,732 | $42,549 |
| JHM | Trustee Trustee or director, Officer | 9 | $34,015 | $0 |
| TS | Trustee Trustee or director | 10 | $34,015 | $0 |
| CRT | Trustee Trustee or director, Officer | 9 | $32,680 | $0 |
| BF | Trustee Trustee or director | 8 | $30,455 | $0 |
| JG | Trustee Trustee or director | 8 | $30,010 | $0 |
| DK | Trustee Trustee or director, Officer | 8 | $27,340 | $0 |
| NDG | Trustee Trustee or director, Officer | 6 | $22,985 | $0 |
| BS | Trustee Trustee or director | 8 | $13,670 | $0 |
| JRS | Trustee Trustee or director, Officer | 3 | $3,370 | $0 |
Address and contacts
- Address (IRS master file)
- 13192 US HIGHWAY 231, TROY, AL 36081-9109
- Principal officer (990 for 2024)
- David Bailey, PO Box 449, Troy, AL 36081
- Signed the 990
- David Bailey, General Manager
- Phone
- (334) 566-2060
- Website
- www.southaec.com
- Return prepared by
- Jackson Thornton & Co PC
Mission
The aim of South Alabama Electric Cooperative is to provide reliable, quality, electric energy and related services to meet the needs of our diverse consumer base at the lowest possible cost consistent with sound economy and good management.
Program accomplishments
- Utilizing approximately 2,904 miles of distribution lines, South Alabama Electric Cooperative provided 408,957,040 Kilowatt-Hours of electric energy to its members located in the southern region of Alabama.
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
- 63-0193841
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1957
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $177,655,969
- Income (IRS master file)
- $59,373,480
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $59,251,788 | $60,251,788 | $177,655,969 | XML |
| 990 | December 2023 | $55,703,765 | $58,703,765 | $169,182,120 | XML |
| 990 | December 2022 | $53,297,437 | $53,297,437 | $169,905,878 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 63-0193841).
Questions about SOUTH ALABAMA ELECTRIC COOPERATIVE
- What is the EIN of SOUTH ALABAMA ELECTRIC COOPERATIVE?
- The employer identification number (EIN) of SOUTH ALABAMA ELECTRIC COOPERATIVE is 63-0193841.
- Is SOUTH ALABAMA ELECTRIC COOPERATIVE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1957.
- Are donations to SOUTH ALABAMA ELECTRIC COOPERATIVE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SOUTH ALABAMA ELECTRIC COOPERATIVE 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 SOUTH ALABAMA ELECTRIC COOPERATIVE 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 SOUTH ALABAMA ELECTRIC COOPERATIVE 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 SOUTH ALABAMA ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2024 names David Bailey.
- Who are the officers and directors of SOUTH ALABAMA ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2024 lists 14 people; 14 received compensation from the organization, the highest $301,701 (LRI, General Manager).
- How much revenue does SOUTH ALABAMA ELECTRIC COOPERATIVE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $59,251,788, expenses of $60,251,788 and total assets of $177,655,969 at year end.
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