Civic Intelligence

Slash Pine Electric Membership Corporation

990 • Fiscal year 2019 • EIN 58-0428892

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 04, 2020

Organization Profile
PO Box 356Homerville, GA 31634

(912) 487-5201

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

59th percentile

0.54x

Higher debt load relative to assets than 59% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

38th percentile

1.21x

Higher debt load relative to revenue than 38% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Net Margin

41st percentile

0.0%

Higher net margin than 41% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

59th percentile

$211,370

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Asset Growth

90th percentile

12%

Faster asset growth than 90% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

56th percentile

1.4%

Faster revenue growth than 56% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$49,542,499

Up $5,272,026 (+12%) from 2018

Net Assets

Up

$22,853,101

Up $2,912,945 (+15%) from 2018

Liabilities

Up

$26,689,398

Up $2,359,081 (+9.7%) from 2018

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin41st percentile

Revenue

Up

$22,057,942

Up $301,951 (+1.4%) from 2018

Expenses

Up

$22,057,942

Up $301,951 (+1.4%) from 2018

Net Income

Flat

$0

Flat from 2018

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2011: $34,263,956Liabilities 2011: $21,081,712Net Assets 2011: $13,182,2442011Assets 2012: $33,753,869Liabilities 2012: $20,468,801Net Assets 2012: $13,285,0682012Assets 2013: $36,788,005Liabilities 2013: $22,315,393Net Assets 2013: $14,472,6122013Assets 2014: $36,636,338Liabilities 2014: $21,967,515Net Assets 2014: $14,668,8232014Assets 2015: $37,101,528Liabilities 2015: $21,911,722Net Assets 2015: $15,189,8062015Assets 2016: $39,848,930Liabilities 2016: $23,531,377Net Assets 2016: $16,317,5532016Assets 2017: $41,699,022Liabilities 2017: $24,745,343Net Assets 2017: $16,953,6792017Assets 2018: $44,270,473Liabilities 2018: $24,330,317Net Assets 2018: $19,940,1562018Assets 2019: $49,542,499Liabilities 2019: $26,689,398Net Assets 2019: $22,853,1012019Assets 2020: $52,200,646Liabilities 2020: $27,338,939Net Assets 2020: $24,861,7072020Assets 2021: $59,349,258Liabilities 2021: $33,055,461Net Assets 2021: $26,293,7972021Assets 2022: $62,272,892Liabilities 2022: $36,180,697Net Assets 2022: $26,092,1952022Assets 2023: $70,522,267Liabilities 2023: $39,046,991Net Assets 2023: $31,475,2762023Assets 2024: $100,329,130Liabilities 2024: $66,665,328Net Assets 2024: $33,663,8022024

Highlighted filing

2019

Assets$49,542,499
Liabilities$26,689,398
Net Assets$22,853,101
Open 2019 Filing

Operations Trend

Revenue Growth56th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0Revenue 2011: $19,588,653Expenses 2011: $19,588,653Net Income 2011: $02011Revenue 2012: $19,156,659Expenses 2012: $19,156,659Net Income 2012: $02012Revenue 2013: $19,576,080Expenses 2013: $19,576,080Net Income 2013: $02013Revenue 2014: $20,350,602Expenses 2014: $20,350,602Net Income 2014: $02014Revenue 2015: $21,005,509Expenses 2015: $21,005,509Net Income 2015: $02015Revenue 2016: $21,699,252Expenses 2016: $21,699,252Net Income 2016: $02016Revenue 2017: $20,992,807Expenses 2017: $20,992,807Net Income 2017: $02017Revenue 2018: $21,755,991Expenses 2018: $21,755,991Net Income 2018: $02018Revenue 2019: $22,057,942Expenses 2019: $22,057,942Net Income 2019: $02019Revenue 2020: $22,713,779Expenses 2020: $22,713,779Net Income 2020: $02020Revenue 2021: $22,571,407Expenses 2021: $22,571,407Net Income 2021: $02021Revenue 2022: $24,004,874Expenses 2022: $24,004,874Net Income 2022: $02022Revenue 2023: $27,262,892Expenses 2023: $27,262,892Net Income 2023: $02023Revenue 2024: $28,804,102Expenses 2024: $28,804,102Net Income 2024: $02024

Highlighted filing

2019

Revenue$22,057,942
Expenses$22,057,942
Net Income$0
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 4, 2020
Return Version
2019v5.0
Gross Receipts
$22,057,942
Mission and Program Overview

Mission

To provide the best possible electric service to all who desire it within the system area at a reasonable cost consistent with the highest standards of service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$33,171,945$34,849,872▲ $1,677,927
Rtn Earn Endowment Incm Other Fnds$19,908,921$22,821,586▲ $2,912,665
Investments Program Related$7,807,468$8,183,182▲ $375,714
Savings and Temporary Cash Investments$614,210$3,100,973▲ $2,486,763
Accounts Receivable$1,299,499$2,344,550▲ $1,045,051
Cash and Non-Interest-Bearing Accounts$526,645$481,169▼ $45,476
Inventories for Sale or Use$466,215$313,184▼ $153,031
Prepaid Expenses and Deferred Charges$380,997$266,075▼ $114,922
Cap Stk Tr Prin Current Funds$31,235$31,515▲ $280
Total Assets$44,270,473$49,542,499▲ $5,272,026
Other Assets Total$3,494$3,494→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,815,906$20,464,144▲ $1,648,238
Other Liabilities$3,592,734$4,076,372▲ $483,638
Accounts Payable and Accrued Expenses$1,921,677$2,148,882▲ $227,205
Total Liabilities$24,330,317$26,689,398▲ $2,359,081
Net Assets / Fund Balance
Total Net Assets Fund Balance$19,940,156$22,853,101▲ $2,912,945
Total Liabilities and Net Assets / Fund Balance$44,270,473$49,542,499▲ $5,272,026

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$34,778,436$10,134,413$44,912,849
Land$71,436-$71,436
Investment Program Related Org$51,100--
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
J Timothy RegisterGeneral ManaFT$176,841$34,529$211,370
J Timothy RegisterGeneral Manager-$176,680$34,690$211,370
Bob JoycePresidentPT$12,328-$12,328
Jerry SmithDirector-$9,212-$9,212
Louis CassottaVice PresidePT$8,546-$8,546
Kevin HartDirector-$8,035-$8,035
Lowell HerringDirector-$6,023-$6,023
Willis BennettSecretary-$5,941-$5,941
Charles CrumbleyTreasurer-$5,422-$5,422
Harold McleodDirector-$4,518-$4,518
Betsy CliftonDirector-$3,614-$3,614
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$22,002,418
Investment Income
$55,524
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,732,869
Salaries, Compensation, and Employee Benefits$275,009
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$3,050,064
Depreciation Depletion---$1,122,854
Other Expenses---$830,346
Interest---$794,744
All Other Expenses---$355,212
Current Officers, Directors, Trustees, and Key Employees---$275,009
Total Functional Expenses$0$0$0$22,057,942
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accum Prov for Postretire Benefits$1,570,689
Regulatory Liabilites - Asc 980$1,475,006
Consumer Deposits$1,008,440
Miscellaneous Operating Rev$22,237
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The cooperative has members as provided for in its bylaws which are included as a part of this return.”

Form 990, Page 6, Part VI, Line 7A

“The cooperative has members who elect members of the governing body as provided for in its bylaws which are included as a part of this return.”

Form 990, Page 6, Part VI, Line 7B

“Certain decisions of the governing body are subject to approval by members as provided for in its bylaws which are included as a part of this return.”

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

“Form 990 is reviewed by the board as provided for in the cooperative's policy which is included as a part of this return.”

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

“The cooperative regularly and consistently monitors and enforces compliance with their conflict of interest policy as provided for in its policy which is included as a part of this return.”

Form 990, Page 6, Part VI, Line 15A

“General manager compensation is reviewed and approved as provided for in the cooperative's policy which is included as a part of this return.”

Form 990, Page 6, Part VI, Line 15B

“Key employee compensation is reviewed and approved through the use of a performance review conducted by the general manager.”

Form 990, Page 6, Part VI, Line 19

“The cooperative makes its bylaws, conflict of interest policy, and financial statements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi, section c, line 18.”

Filing and Contact Details

Filer

Filer Name
Slash Pine Electric Membership
EIN
58-0428892
Phone
9124875201
Address
PO BOX 356, HOMERVILLE, GA 31634

Signing Officer

Name
J Timothy Register
Title
General Manager
Phone
9124875201
Signed
2020-06-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Timothy Register
Formed
1940
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
9
Employees
26

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
H Terrell Mcmichael Jr
Phone
4787466277
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Other comprehensive income -59,200 capital credits retirement -354,703 membership fees 280 retired capital credit gain 38,273 patronage capital 3,050,064 asc 980 revenue deferral -750,000 other equity 988,231 total 2,912,945”

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt354497
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt06119667
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1702511
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2308026
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3273425
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4252762
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt5176461
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2PAT CAP- CFC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3PAT CAP- GEC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4INVESTMENT IN- GTC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5CFC MEMBER CAPITAL SECURITIES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6OTHER
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7SEDC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc8SMARR EMC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc9OTHER CFC
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt071436
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21008440
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt322237
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCUM PROV FOR POSTRETIRE BENEFITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REGULATORY LIABILITES - ASC 980
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSUMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3MISCELLANEOUS OPERATING REV
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IRS990ScheduleD/TotalBookValueProgramRltdAmt08183182
IRS990ScheduleD/TotalLiabilityAmt04076372
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COOPERATIVE HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS REVIEWED BY THE BOARD AS PROVIDED FOR IN THE COOPERATIVE'S POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THEIR CONFLICT OF INTEREST POLICY AS PROVIDED FOR IN ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GENERAL MANAGER COMPENSATION IS REVIEWED AND APPROVED AS PROVIDED FOR IN THE COOPERATIVE'S POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6KEY EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED THROUGH THE USE OF A PERFORMANCE REVIEW CONDUCTED BY THE GENERAL MANAGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE COOPERATIVE MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI, SECTION C, LINE 18.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8OTHER COMPREHENSIVE INCOME -59,200 CAPITAL CREDITS RETIREMENT -354,703 MEMBERSHIP FEES 280 RETIRED CAPITAL CREDIT GAIN 38,273 PATRONAGE CAPITAL 3,050,064 ASC 980 REVENUE DEFERRAL -750,000 OTHER EQUITY 988,231 TOTAL 2,912,945
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02020-11-06 18:47:13Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0J TIMOTHY REGISTER
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ReturnHeader/BusinessOfficerGrp/PhoneNum09124875201
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SLASH PINE ELECTRIC MEMBERSHIP
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0SLAS
ReturnHeader/Filer/EIN0580428892
ReturnHeader/Filer/PhoneNum09124875201
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt098.175.202.218
ReturnHeader/FilingSecurityInformation/IPDt02020-06-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:57:04
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0581094351
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0POST OFFICE BOX ONE

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$49,542,499
Liabilities
$26,689,398
Net assets
$22,853,101
Revenue
$22,057,942
Expenses
$22,057,942
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$100$66.7$33.7$28.8$28.8$0.00
2023Detailed filing. Detailed filing data is available for this year.$70.5$39.0$31.5$27.3$27.3$0.00
2022Detailed filing. Detailed filing data is available for this year.$62.3$36.2$26.1$24.0$24.0$0.00
2021Detailed filing. Detailed filing data is available for this year.$59.3$33.1$26.3$22.6$22.6$0.00
2020Detailed filing. Detailed filing data is available for this year.$52.2$27.3$24.9$22.7$22.7$0.00
2019Detailed filing. Detailed filing data is available for this year.$49.5$26.7$22.9$22.1$22.1$0.00
2018Detailed filing. Detailed filing data is available for this year.$44.3$24.3$19.9$21.8$21.8$0.00
2017Summary only. Only limited summary data is available for this year.$41.7$24.7$17.0$21.0$21.0$0.00
2016Summary only. Only limited summary data is available for this year.$39.8$23.5$16.3$21.7$21.7$0.00
2015Summary only. Only limited summary data is available for this year.$37.1$21.9$15.2$21.0$21.0$0.00
2014Summary only. Only limited summary data is available for this year.$36.6$22.0$14.7$20.4$20.4$0.00
2013Summary only. Only limited summary data is available for this year.$36.8$22.3$14.5$19.6$19.6$0.00
2012Summary only. Only limited summary data is available for this year.$33.8$20.5$13.3$19.2$19.2$0.00
2011Summary only. Only limited summary data is available for this year.$34.3$21.1$13.2$19.6$19.6$0.00
Peer Organizations

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