Civic Intelligence

Southern Maryland Elec Cooperative

EIN 52-1309853 • 501(c)4 • Hughesville, MD

Profile

The trust provides worker's compensation benefits through self and excess coverage insurance, as specified by the court and/or other authorities, to employees of the cooperative and/or their beneficiaries.

PO Box 1937Hughesville, MD 20637-1937

www.smeco.coop

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.39x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

1.32x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Net Margin

50th percentile

8.3%

Higher net margin than 50% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

100th percentile

$1,082,379

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 123.8% of source-year revenue.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Asset Growth

75th percentile

15%

Faster asset growth than 75% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

5th percentile

-48%

Faster revenue growth than 5% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$2,961,596

Up $387,811 (+15%) from 2023

Liabilities

Up

$1,153,014

Up $314,982 (+38%) from 2023

Net Assets

Up

$1,808,582

Up $72,829 (+4.2%) from 2023

Operations
Liabilities / Revenue89th percentileNet Margin50th percentile

Revenue

Down

$874,415

Down $817,629 (-48%) from 2023

Expenses

Up

$801,586

Up $57,640 (+7.7%) from 2023

Net Income

Down

$72,829

Down $875,269 (-92%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth75th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $374,581Liabilities 2010: $811,240Net Assets 2010: -$436,6592010Assets 2011: $475,595Liabilities 2011: $756,713Net Assets 2011: -$281,1182011Assets 2012: $502,397Liabilities 2012: $820,495Net Assets 2012: -$318,0982012Assets 2013: $570,481Liabilities 2013: $903,572Net Assets 2013: -$333,0912013Assets 2014: $586,512Liabilities 2014: $900,567Net Assets 2014: -$314,0552014Assets 2015: $992,876Liabilities 2015: $909,319Net Assets 2015: $83,5572015Assets 2016: $1,417,038Liabilities 2016: $858,374Net Assets 2016: $558,6642016Assets 2017: $1,537,793Liabilities 2017: $950,603Net Assets 2017: $587,1902017Assets 2018: $1,337,589Liabilities 2018: $1,182,193Net Assets 2018: $155,3962018Assets 2019: $1,466,502Liabilities 2019: $1,203,476Net Assets 2019: $263,0262019Assets 2020: $1,722,071Liabilities 2020: $1,065,229Net Assets 2020: $656,8422020Assets 2021: $2,123,389Liabilities 2021: $1,230,782Net Assets 2021: $892,6072021Assets 2022: $2,413,779Liabilities 2022: $1,626,124Net Assets 2022: $787,6552022Assets 2023: $2,573,785Liabilities 2023: $838,032Net Assets 2023: $1,735,7532023Assets 2024: $2,961,596Liabilities 2024: $1,153,014Net Assets 2024: $1,808,5822024

Highlighted filing

2024

Assets$2,961,596
Liabilities$1,153,014
Net Assets$1,808,582
Open 2024 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2010: $289,3072010Expenses 2011: $434,2492011Expenses 2012: $492,1092012Revenue 2013: $490,559Expenses 2013: $505,552Net Income 2013: -$14,9932013Revenue 2014: $570,199Expenses 2014: $551,163Net Income 2014: $19,0362014Revenue 2015: $783,292Expenses 2015: $385,680Net Income 2015: $397,6122015Revenue 2016: $794,610Expenses 2016: $319,503Net Income 2016: $475,1072016Revenue 2017: $499,173Expenses 2017: $470,647Net Income 2017: $28,5262017Revenue 2018: $498,033Expenses 2018: $929,827Net Income 2018: -$431,7942018Revenue 2019: $753,922Expenses 2019: $646,292Net Income 2019: $107,6302019Revenue 2020: $794,460Expenses 2020: $400,644Net Income 2020: $393,8162020Revenue 2021: $820,479Expenses 2021: $584,714Net Income 2021: $235,7652021Revenue 2022: $847,261Expenses 2022: $952,213Net Income 2022: -$104,9522022Revenue 2023: $1,692,044Expenses 2023: $743,946Net Income 2023: $948,0982023Revenue 2024: $874,415Expenses 2024: $801,586Net Income 2024: $72,8292024

Highlighted filing

2024

Revenue$874,415
Expenses$801,586
Net Income$72,829
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,961,596
Liabilities
$1,153,014
Net assets
$1,808,582
Revenue
$874,415
Expenses
$801,586
Net income
$72,829
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.96$1.15$1.81$0.87$0.80$0.07
2023Detailed filing. Detailed filing data is available for this year.$2.57$0.84$1.74$1.69$0.74$0.95
2022Detailed filing. Detailed filing data is available for this year.$2.41$1.63$0.79$0.85$0.95$0.10
2021Detailed filing. Detailed filing data is available for this year.$2.12$1.23$0.89$0.82$0.58$0.24
2020Detailed filing. Detailed filing data is available for this year.$1.72$1.07$0.66$0.79$0.40$0.39
2019Detailed filing. Detailed filing data is available for this year.$1.47$1.20$0.26$0.75$0.65$0.11
2018Detailed filing. Detailed filing data is available for this year.$1.34$1.18$0.16$0.50$0.93$0.43
2017Detailed filing. Detailed filing data is available for this year.$1.54$0.95$0.59$0.50$0.47$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.42$0.86$0.56$0.79$0.32$0.48
2015Detailed filing. Detailed filing data is available for this year.$0.99$0.91$0.08$0.78$0.39$0.40
2014Detailed filing. Detailed filing data is available for this year.$0.59$0.90$0.31$0.57$0.55$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.57$0.90$0.33$0.49$0.51$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.82$0.32$0.49
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.76$0.28$0.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.81$0.44$0.29
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.0
Gross Receipts
$874,415
Mission and Program Overview

Mission

The trust provides worker's compensation benefits through self and excess coverage insurance, as specified by the court and/or other authorities, to employees of the cooperative and/or their beneficiaries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,449,843$2,815,799▲ $365,956
Rtn Earn Endowment Incm Other Fnds$1,735,753$1,808,582▲ $72,829
Prepaid Expenses and Deferred Charges$123,942$145,797▲ $21,855
Total Assets$2,573,785$2,961,596▲ $387,811
Liabilities
Accounts Payable and Accrued Expenses$838,032$1,153,014▲ $314,982
Total Liabilities$838,032$1,153,014▲ $314,982
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,735,753$1,808,582▲ $72,829
Total Liabilities and Net Assets / Fund Balance$2,573,785$2,961,596▲ $387,811
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleOtherTotal
Sonja M CoxPresident &$1,082,379$1,082,379
W Rayner Blair IiiChairman$42,200$42,200
Richard a WinklerDirector$37,600$37,600
P Scott WhiteDirector$33,800$33,800
William R Cullins IiiComm. Chairm$29,800$29,800
Joseph Gilbert MurphyDirector$28,700$28,700
Daniel W DyerDirector$27,150$27,150

Board Members and Trustees

NameTitle
Sonja M CoxPresident & CEO
-Trustee
Beth a KennedySr VP & CFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Riggs Counselman Michaels & DownesIns., Admin Fee555 FAIRMOUNT AVENUE, Baltimore, MD 21286$290,739
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$856,839
Investment Income
$17,576
Other Revenue
$0
Change in Net Assets
$72,829

Audited Revenue Reconciliation

Revenue per Audited Statements
$874,415
Total Revenue per Audited Statements
$874,415
Total Revenue per Form 990
$874,415
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$656,410
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$145,176--$145,176
Other Expenses$263,044$36,405-$36,405
Total Functional Expenses$713,688$87,898$0$801,586

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$801,586
Total Expenses per Audited Statements$801,586
Total Expenses per Form 990$801,586
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A draft copy of the form 990 is provided to the cfo and controller. Once approved, the form 990 is then filed with the internal revenue service.”

Form 990, Page 6, Part VI, Line 12C

“This workers' compensation plan trust is set up for the exclusive purpose of providing workers' comp benefits. It is controlled by southern maryland electric cooperative (smeco), and therefore, falls under the governing policies of smeco. The conflict of interest policy, whistle blower policy and document retention policy are the same as those established by smeco.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and policies are available upon request. Financial data is provided to the membership at the annual meeting. Financial data is also included on the 990 which is available upon request.”

Form 990, Part VII

“Part vii, section a, column e southern maryland electric cooperative, inc. Workers compensation plan is considered a related party to southern maryland electric cooperative (smeco) for purposes of the 990. As a result, the compensation from smeco is required to be reported on this 990 under column e. This compensation is not related to the workers compensation plan and is by no means an expense of the workers compensation plan. It is only required to be reported based on the instructions of the current year 990.”

Filing and Contact Details

Filer

Filer Name
Southern Maryland Elec Cooperative
EIN
52-1309853
Phone
3012744328
Address
PO BOX 1937, HUGHESVILLE, MD 20637-1937

Signing Officer

Name
Beth a Kennedy
Title
Sr VP & CFO
Phone
3012744328
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Beth a Kennedy
Formed
1982
Legal Domicile
Md
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Adams Jenkins & Cheatham
Address
231 WYLDEROSE DR, MIDLOTHIAN, VA 23113
Preparer
G Steven Gilliam CPA
Phone
8043231313
Raw XML Appendix381 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt157485
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SONJA M COX
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1BETH A KENNEDY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SR VP & CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt01082379
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1495312
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0SONJA M. COX 0 375,046 0 BETH A. KENNEDY 0 56,085 0
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1CONTRIBUTIONS TO THE PLAN MADE BY SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PAGE 1, PART I, LINE 4
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE J, PART III
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE FORM 990 IS PROVIDED TO THE CFO AND CONTROLLER. ONCE APPROVED, THE FORM 990 IS THEN FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THIS WORKERS' COMPENSATION PLAN TRUST IS SET UP FOR THE EXCLUSIVE PURPOSE OF PROVIDING WORKERS' COMP BENEFITS. IT IS CONTROLLED BY SOUTHERN MARYLAND ELECTRIC COOPERATIVE (SMECO), AND THEREFORE, FALLS UNDER THE GOVERNING POLICIES OF SMECO. THE CONFLICT OF INTEREST POLICY, WHISTLE BLOWER POLICY AND DOCUMENT RETENTION POLICY ARE THE SAME AS THOSE ESTABLISHED BY SMECO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL DATA IS PROVIDED TO THE MEMBERSHIP AT THE ANNUAL MEETING. FINANCIAL DATA IS ALSO INCLUDED ON THE 990 WHICH IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PART VII, SECTION A, COLUMN E SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC. WORKERS COMPENSATION PLAN IS CONSIDERED A RELATED PARTY TO SOUTHERN MARYLAND ELECTRIC COOPERATIVE (SMECO) FOR PURPOSES OF THE 990. AS A RESULT, THE COMPENSATION FROM SMECO IS REQUIRED TO BE REPORTED ON THIS 990 UNDER COLUMN E. THIS COMPENSATION IS NOT RELATED TO THE WORKERS COMPENSATION PLAN AND IS BY NO MEANS AN EXPENSE OF THE WORKERS COMPENSATION PLAN. IT IS ONLY REQUIRED TO BE REPORTED BASED ON THE INSTRUCTIONS OF THE CURRENT YEAR 990.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VII
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SOUTHERN MARYLAND ELECTRIC COOP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0520492367
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C12
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DISTR ELEC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0HUGHESVILLE
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SOUTHERN MARYLAND ELECTRIC COOPERAT
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt02961596
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0713688
IRS990/TotalFunctionalExpensesGrp/TotalAmt0801586
IRS990/TotalGrossUBIAmt00
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IRS990/TypeOfOrganizationOtherInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1937
IRS990/USAddress/CityNm0HUGHESVILLE
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IRS990/WebsiteAddressTxt0WWW.SMECO.COOP
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BETH A KENNEDY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SR VP & CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum03012744328
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHERN MARYLAND ELEC COOPERATIVE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC WORKERS COMPENSATION PLAN
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0521309853
ReturnHeader/Filer/PhoneNum03012744328
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1937
ReturnHeader/Filer/USAddress/CityNm0HUGHESVILLE
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541320089
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ADAMS JENKINS & CHEATHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0231 WYLDEROSE DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIDLOTHIAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023113
ReturnHeader/PreparerPersonGrp/PhoneNum08043231313
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0G STEVEN GILLIAM CPA
ReturnHeader/ReturnTs02025-11-06T16:16:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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