SALT RIVER ELECTRIC COOPERATIVE CORPORATION: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- SALT RIVER ELECTRIC COOPERATIVE CORPORATION (EIN 61-0329022)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-05-16
- IRS object ID
- 202211369349301536
- Schema version
- 2021v4.2
- 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 | 2022-05-16T07:35:08-05:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 610420207 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JONES NALE & MATTINGLY PLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 WEST MAIN STREET SUITE 1100 | AddressLine1Txt |
| City | LOUISVILLE | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 610329022 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SALT RIVER ELECTRIC COOPERATIVE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SALT | BusinessNameControlTxt |
| Phone | 5023483931 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 609 | AddressLine1Txt |
| City | BARDSTOWN | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40004 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TIMOTHY J SHARP | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 5023483931 | PhoneNum |
| Signature | 2022-05-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | TIMOTHY | PersonFirstNm |
| Person Last | SHARP | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TRAVIS C FRICK | PreparerPersonNm |
| PTIN | P01728213 | PTIN |
| Phone | 5025830248 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | TIMOTHY J SHARP | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 609 | AddressLine1Txt |
| City | BARDSTOWN | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40004 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $114,408,015 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SRELECTRIC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1936 | FormationYr |
| Legal Domicile State | KY | LegalDomicileStateCd |
| Activity Or Mission | DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO AN AVERAGE OF APPROXIMATELY 54,465 CONSUMERS MONTHLY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 73 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $149,324 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $283,342 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $97,760,749 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $111,790,400 | CYProgramServiceRevenueAmt |
| PY Investment Income | $473,723 | PYInvestmentIncomeAmt |
| CY Investment Income | $109,532 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,868,521 | PYOtherRevenueAmt |
| CY Other Revenue | $2,508,083 | CYOtherRevenueAmt |
| PY Total Revenue | $103,102,993 | PYTotalRevenueAmt |
| CY Total Revenue | $114,408,015 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $4,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $6,728,742 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $4,549,157 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $9,370,976 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,627,405 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $87,003,275 | PYOtherExpensesAmt |
| CY Other Expenses | $99,227,453 | CYOtherExpensesAmt |
| PY Total Expenses | $103,102,993 | PYTotalExpensesAmt |
| CY Total Expenses | $114,408,015 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $184,280,715 | TotalAssetsBOYAmt |
| Total Assets EOY | $187,060,575 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $68,429,101 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $64,666,031 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $115,851,614 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $122,394,544 | NetAssetsOrFundBalancesEOYAmt |
| Mission | DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO AN AVERAGE OF APPROXIMATELY 54,465 CONSUMERS MONTHLY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $114,408,015 | ExpenseAmt |
| Revenue | $113,156,668 | RevenueAmt |
| Desc | PROVIDE DISTRIBUTION SALES OF ELECTRICITY TO AN AVERAGE OF APPROXIMATELY 54,465 CONSUMERS MONTHLY ON A PATRONAGE BASIS. | Desc |
| Total Program Service Expenses | $114,408,015 | TotalProgramServiceExpensesAmt |
| 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 | Yes (1) | 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 | 0 | 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 | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 21 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 73 | 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 | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Members And Shr Gross Income | $113,156,668 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,102,023 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | 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 | 0 | 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 | MECHONDA O'BRIEN CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5023483931 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 609 | AddressLine1Txt |
| City | BARDSTOWN | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40004 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| JIMMY LONGMIRE | |||||||||
| CHAIRMAN | 5.00 | Yes (X) | Yes (X) | $17,098 | $0 | $0 | |||
| DARRELL TINGLE | |||||||||
| TREASURER | 5.00 | Yes (X) | Yes (X) | $16,400 | $0 | $0 | |||
| ALBERT CAHOE | |||||||||
| DIRECTOR | 5.00 | Yes (X) | $17,698 | $0 | $0 | ||||
| LINDA WEST | |||||||||
| SECRETARY | 5.00 | Yes (X) | Yes (X) | $17,734 | $0 | $0 | |||
| DAVID STEVENS | |||||||||
| DIRECTOR | 5.00 | Yes (X) | $8,200 | $0 | $0 | ||||
| GEORGE MADDOX | |||||||||
| DIRECTOR | 5.00 | Yes (X) | $2,600 | $0 | $0 | ||||
| TIM SHARP | |||||||||
| PRESIDENT & CEO | 45.00 | $296,440 | $0 | $52,496 | Yes (X) | ||||
| NICKY RAPIER | |||||||||
| CHIEF INFO OFFICER | 45.00 | $158,921 | $0 | $32,005 | Yes (X) | ||||
| WILLIAM CLEMENTS | |||||||||
| LINEMAN | 45.00 | $150,932 | $0 | $32,363 | Yes (X) | ||||
| JAMES THORNSBERRY | |||||||||
| LINEMAN | 45.00 | $148,181 | $0 | $31,439 | Yes (X) | ||||
| WILLIAM TUCKER | |||||||||
| LINEMAN | 45.00 | $153,301 | $0 | $32,452 | Yes (X) | ||||
| RICHARD HOOPS | |||||||||
| LINEMAN | 45.00 | $145,066 | $0 | $32,170 | Yes (X) | ||||
| GAYLE TROUTMAN | |||||||||
| FORMER DIRECTOR | 5.00 | $13,600 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,146,171 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $212,925 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 22 | 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 |
|---|---|---|---|---|---|
| HAMILTON POWER LINE | |||||
| P O BOX 625 | BARDSTOWN | KY | 40004 | LINE CONSTRUCTION | $886,649 |
| A&G TREE SERVICE | |||||
| 1646 MORGANTOWN RD | BOWLING GREEN | KY | 42101 | TREE TRIMMING | $867,727 |
| DAVID ELLIOT CONSTUCTION | |||||
| P O BOX 37251 | BALTIMORE | MD | 21297 | LINE CONSTRUCTION | $318,149 |
| ALLIED UNDERGROUND | |||||
| 968 GRUNDY HOME RD | SPRINGFIELD | KY | 40069 | UNDERGROUND SERVICES | $223,154 |
| REDBIRD CONSTRUCTION | |||||
| 444 TERRY BLVD | LOUISVILLE | KY | 40229 | BLDG RENOVATIONS | $187,461 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| ELECTRIC SERVICE | 221000 | $111,497,810 | $111,497,810 |
| ELECTRIC MERCHANDISE | 221000 | $292,590 | $292,590 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $111,790,400 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $109,532 | TotalRevenueColumnAmt |
| Exclusion | $109,532 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| G&T CAPITAL CREDITS | 221000 | $1,099,800 | $1,099,800 | |
| JOINT USE POLE RENTALS | 221000 | $735,854 | $735,854 | |
| FLOW THRU ENTITY | 221000 | $256,637 | $256,637 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $415,792 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $266,468 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $149,324 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,508,083 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $114,408,015 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $113,156,668 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $149,324 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,102,023 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,000 | TotalAmt |
| Program Services | $4,000 | ProgramServicesAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,549,157 | TotalAmt |
| Program Services | $4,549,157 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $376,171 | TotalAmt |
| Program Services | $376,171 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,867,961 | TotalAmt |
| Program Services | $5,867,961 | ProgramServicesAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,223,128 | TotalAmt |
| Program Services | $2,223,128 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,689,062 | TotalAmt |
| Program Services | $1,689,062 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $471,083 | TotalAmt |
| Program Services | $471,083 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,030 | TotalAmt |
| Program Services | $34,030 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,950 | TotalAmt |
| Program Services | $15,950 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $548,382 | TotalAmt |
| Program Services | $548,382 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,033,350 | TotalAmt |
| Program Services | $1,033,350 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,585,922 | TotalAmt |
| Program Services | $6,585,922 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $157,445 | TotalAmt |
| Program Services | $157,445 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| UBIT TAX | $37,460 | $37,460 |
| COST OF POWER | $90,381,980 | $90,381,980 |
| ADMINISTRATIVE AND GENE | $3,458,962 | $3,458,962 |
| DISTRIBUTION - OPERATIO | $3,210,780 | $3,210,780 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$6,236,808 | TotalAmt |
| Program Services | -$6,236,808 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,408,015 | TotalAmt |
| Program Services | $114,408,015 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,107,444 | BOYAmt |
| EOY | $12,706,213 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,326,947 | BOYAmt |
| EOY | $16,697,932 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $177,164 | BOYAmt |
| EOY | $383,575 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $857,153 | BOYAmt |
| EOY | $1,426,400 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $148,483 | BOYAmt |
| EOY | $160,393 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $175,727,352 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $105,601,118 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $70,555,872 | BOYAmt |
| EOY | $70,126,234 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,287,039 | BOYAmt |
| EOY | $74,380,540 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,820,613 | BOYAmt |
| EOY | $11,179,288 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $184,280,715 | BOYAmt |
| EOY | $187,060,575 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,879,440 | BOYAmt |
| EOY | $10,872,135 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,403,993 | BOYAmt |
| EOY | $47,807,436 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,145,668 | BOYAmt |
| EOY | $5,986,460 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,429,101 | BOYAmt |
| EOY | $64,666,031 | 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 | $2,458,065 | BOYAmt |
| EOY | $2,530,390 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$8,006,644 | BOYAmt |
| EOY | -$3,578,193 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $121,400,193 | BOYAmt |
| EOY | $123,442,347 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $115,851,614 | BOYAmt |
| EOY | $122,394,544 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $184,280,715 | BOYAmt |
| EOY | $187,060,575 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $6,542,930 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| 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 | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $175,727,352 | OtherCostOrOtherBasisAmt |
| Depreciation | $105,601,118 | DepreciationAmt |
| Book Value | $70,126,234 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $70,126,234 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROGRAM RELATED INVESTMENTS | Desc |
| Book Value | $74,380,540 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $74,380,540 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| PREPAID PENSION ASSET | $9,988,595 |
| DEFERRED DEBITS | $1,190,693 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $11,179,288 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| CONSUMER DEPOSITS | $3,191,311 |
| ACCRUED EXPENSES | $1,356,234 |
| CONSUMER ADVANCES FOR CONSTRUCTION | $533,424 |
| ACCUMULATED POSTRETIREMENT BENEFITS | $905,491 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $5,986,460 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $114,408,015 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $114,408,015 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $114,408,015 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $114,408,015 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $114,408,015 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $114,408,015 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | SALT RIVER QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO SALT RIVER'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THERE WAS NO UNRELATED BUSINESS INCOME TAX FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020. ACCORDINGLY, THE FINANCIAL STATEMENTS OF SALT RIVER INCLUDE NO PROVISION FOR INCOME TAXES. SALT RIVER'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE/BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. SALT RIVER HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT. SALT RIVER'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX IS SUBJECT TO POSSIBLE EXAMINATION BY TAXING AUTHORITIES UNTIL THE EXPIRATION OF RELATED STATUTES OF LIMITATIONS ON THE RETURN, WHICH IS GENERALLY THREE YEARS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| 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 (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TIM SHARP | ||||||||||||||
| PRESIDENT & CEO | $296,440 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $52,496 | $0 | $348,936 | $0 | $0 | $0 |
| NICKY RAPIER | ||||||||||||||
| CHIEF INFO OFFICER | $158,921 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,005 | $0 | $190,926 | $0 | $0 | $0 |
| WILLIAM TUCKER | ||||||||||||||
| LINEMAN | $153,301 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,452 | $0 | $185,753 | $0 | $0 | $0 |
| WILLIAM CLEMENTS | ||||||||||||||
| LINEMAN | $150,932 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,363 | $0 | $183,295 | $0 | $0 | $0 |
| JAMES THORNSBERRY | ||||||||||||||
| LINEMAN | $148,181 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $31,439 | $0 | $179,620 | $0 | $0 | $0 |
| RICHARD HOOPS | ||||||||||||||
| LINEMAN | $145,066 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,170 | $0 | $177,236 | $0 | $0 | $0 |
| GAYLE TROUTMAN | ||||||||||||||
| FORMER DIRECTOR | $13,600 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $13,600 | $0 | $0 | $0 |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|
| LOCK 7 HYDRO PARTNERS | ||
| CEO IS A BOARD MEMBER | KEEP FINANCIAL RECORDS | 0 |
| LOCK 7 HYDRO PARTNERS | ||
| CFO IS SEC/TREASURER | KEEP FINANCIAL RECORDS | 0 |
| LOCK 7 HYDRO PARTNERS | ||
| DIRECTOR | DIRECTOR WEST IS DIRECTOR | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | LINE 6 EXPLANATION - MUST BE A MEMBER TO RECEIVE ELECTRIC SERVICE. EACH MEMBERS HAS 1 VOTE. MAY HAVE MORE THAN 1 SERVICE PER MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7A | LINE 7A EXPLANATION - NOMINATING COMMITTEE MEETS EVERY YEAR THERE IS AN ELECTION TO SELECT MEMBER TO RUN FOR DIRECTOR. MEMBER MAY RUN FOR DIRECTOR WITH PETITION SIGNED BY 100 OR MORE ELIGIBLE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | LINE 7B EXPLANATION - THE BY-LAWS MAY BE AMENDED BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS AT ANY REGULAR OR SPECIAL MEETING. |
| FORM 990, PART VI, SECTION B, LINE 11B | LINE 11B EXPLANATION - DIRECTORS ARE FURNISHED A DRAFT COPY OF THE 990 PRIOR TO FILING. MAY MAKE INQUIRIES OF INFORMATION CONTAINED IN THE FILING. ADDITIONALLY, IF REQUESTED, DIRECTORS MEET WITH THE INDEPENDENT AUDITOR IN A CLOSED SESSION AND ARE ABLE TO ASK QUESTION AT THAT TIME. |
| FORM 990, PART VI, SECTION B, LINE 12C | SALT RIVER HAS A BOARD POLICY ADDRESSING CONFLICTS OF INTEREST. THIS IS REVIEWED ON AN ANNUAL BASIS. |
| FORM 990, PART VI, SECTION B, LINE 15 | 15.A AND B. THE BOARD RECEIVES DATA FROM BOTH LOCAL AND NATIONAL SURVEYS. THE BOARD USES THIS DATA, ALONG WITH A PERFORMANCE REVIEW, TO SET COMPENSATION. THE BOARD HAS USED, AND OCCASSIONALLY DOES, USE AN INDEPENDENT HUMAN RESOURCE CONSULTING FIRM TO REVIEW THE COMPENSATION AND PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19 | BYLAWS ARE GIVEN TO EACH MEMBER. EACH YEAR FINANCIAL STATEMENETS ARE GIVEN TO MEMBERS AND AN ANNUAL MEETING OF MEMBERS IS HELD. |
| FORM 990, PART XI, LINE 9: | ACCUMULATED COMPREHENSIVE INCOME 4,428,451. MARGINS ALLOCATED TO MEMBERS 4,549,158. MEMBERSHIPS ISSUED 72,325. OTHER EQUITIES 316,233. RETIREMENT OF CAPITAL CREDITS -2,823,237. |
| FORM 990, PART XII, LINE 2C: | NO CHANGES FROM PRIOR YEAR. |
| FORM 990, PART IX, LINE 4 | BENEFITS PAID TO OR FOR MEMBERS REPRESENTS PATRONAGE CAPITAL CREDITS ALLOCATED TO MEMBERS IN ACCORDANCE WITH THE BYLAWS OF THE COOPERATIVE. THIS REPORTING RESULTS IN A DIFFERENCE BETWEEN BOOK INCOME AND INCOME REPORTED ON THE FORM 990 BY THE SAME AMOUNT. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LOCK 7 HYDRO PARTNERS LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 609 | AddressLine1Txt |
| City | BARDSTOWN | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40004 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 421671910 | EIN |
| Primary Activities | HYDRO ELECT | PrimaryActivitiesTxt |
| Legal Domicile State | KY | LegalDomicileStateCd |
| Share Of Total Income | $260,846 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $157,000 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | Yes (1) | GeneralOrManagingPartnerInd |
| Ownership | 0.50000 | OwnershipPct |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Comments