Civic Intelligence

South Central Arkansas Electric

990 • Fiscal year 2021 • EIN 71-0165740

Jan 01, 2021 to Dec 31, 2021 • Filed on May 11, 2022

Organization Profilewww.scaec.com
PO Box 476Arkadelphia, AR 71923

(870) 246-6701

Siviq Scores

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

Liabilities / Assets

88th percentile

0.67x

Higher debt load relative to assets than 88% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

88th percentile

2.25x

Higher debt load relative to revenue than 88% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Net Margin

72nd percentile

3.9%

Higher net margin than 72% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$219,159

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Asset Growth

83rd percentile

10.0%

Faster asset growth than 83% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

94th percentile

19%

Faster revenue growth than 94% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$118,999,056

Up $10,788,449 (+10.0%) from 2020

Net Assets

Up

$39,854,933

Up $1,842,272 (+4.8%) from 2020

Liabilities

Up

$79,144,123

Up $8,946,177 (+13%) from 2020

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin72nd percentile

Revenue

Up

$35,113,922

Up $5,647,137 (+19%) from 2020

Expenses

Up

$33,760,981

Up $5,955,873 (+21%) from 2020

Net Income

Down

$1,352,941

Down $308,736 (-19%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$150M$100M$50M$0Assets 2011: $58,662,152Liabilities 2011: $34,475,316Net Assets 2011: $24,186,8362011Assets 2012: $62,808,074Liabilities 2012: $36,317,270Net Assets 2012: $26,490,8042012Assets 2013: $65,460,613Liabilities 2013: $36,116,277Net Assets 2013: $29,344,3362013Assets 2014: $64,420,109Liabilities 2014: $33,395,209Net Assets 2014: $31,024,9002014Assets 2015: $63,731,239Liabilities 2015: $31,184,112Net Assets 2015: $32,547,1272015Assets 2016: $66,675,618Liabilities 2016: $33,588,462Net Assets 2016: $33,087,1562016Assets 2017: $68,120,745Liabilities 2017: $33,485,655Net Assets 2017: $34,635,0902017Assets 2018: $76,700,457Liabilities 2018: $40,766,127Net Assets 2018: $35,934,3302018Assets 2019: $92,927,756Liabilities 2019: $56,675,216Net Assets 2019: $36,252,5402019Assets 2020: $108,210,607Liabilities 2020: $70,197,946Net Assets 2020: $38,012,6612020Assets 2021: $118,999,056Liabilities 2021: $79,144,123Net Assets 2021: $39,854,9332021Assets 2023: $128,109,281Liabilities 2023: $87,800,206Net Assets 2023: $40,309,0752023Assets 2024: $125,990,484Liabilities 2024: $81,894,007Net Assets 2024: $44,096,4772024

Highlighted filing

2021

Assets$118,999,056
Liabilities$79,144,123
Net Assets$39,854,933
Open 2021 Filing

Operations Trend

Revenue Growth94th percentile

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

$40M$30M$20M$10M$0Revenue 2011: $21,814,883Expenses 2011: $19,979,501Net Income 2011: $1,835,3822011Revenue 2012: $22,154,683Expenses 2012: $19,740,161Net Income 2012: $2,414,5222012Revenue 2013: $24,753,045Expenses 2013: $21,762,608Net Income 2013: $2,990,4372013Revenue 2014: $24,758,168Expenses 2014: $22,820,194Net Income 2014: $1,937,9742014Revenue 2015: $24,140,292Expenses 2015: $22,447,331Net Income 2015: $1,692,9612015Revenue 2016: $24,644,553Expenses 2016: $23,334,116Net Income 2016: $1,310,4372016Revenue 2017: $25,560,753Expenses 2017: $23,993,094Net Income 2017: $1,567,6592017Revenue 2018: $26,610,034Expenses 2018: $25,255,104Net Income 2018: $1,354,9302018Revenue 2019: $28,849,743Expenses 2019: $28,366,918Net Income 2019: $482,8252019Revenue 2020: $29,466,785Expenses 2020: $27,805,108Net Income 2020: $1,661,6772020Revenue 2021: $35,113,922Expenses 2021: $33,760,981Net Income 2021: $1,352,9412021Revenue 2023: $29,318,440Expenses 2023: $27,652,741Net Income 2023: $1,665,6992023Revenue 2024: $34,430,241Expenses 2024: $28,265,681Net Income 2024: $6,164,5602024

Highlighted filing

2021

Revenue$35,113,922
Expenses$33,760,981
Net Income$1,352,941
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 11, 2022
Return Version
2021v4.0
Gross Receipts
$35,117,944
Mission and Program Overview

Mission

Electric distribution to members at minimal cost. 245,954,487 kWh were sold to an average of 10,198 consumers.

Electric distribution to members at minimal cost. 245,144,126 kWh were sold to an average of 10,419 consumers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$79,302,342$93,004,857▲ $13,702,515
Cap Stk Tr Prin Current Funds$35,821,923$37,569,620▲ $1,747,697
Investments Program Related$15,523,544$12,579,844▼ $2,943,700
Inventories for Sale or Use$4,924,186$6,417,249▲ $1,493,063
Accounts Receivable$2,931,132$3,017,810▲ $86,678
Rtn Earn Endowment Incm Other Fnds$2,074,363$2,169,403▲ $95,040
Savings and Temporary Cash Investments$3,420,000$1,190,000▼ $2,230,000
Prepaid Expenses and Deferred Charges$509,664$640,211▲ $130,547
Cash and Non-Interest-Bearing Accounts$305,901$375,473▲ $69,572
Pd in Cap Srpls Land Bldg Eqp Fund$116,375$115,910▼ $465
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$108,210,607$118,999,056▲ $10,788,449
Other Assets Total$1,293,838$1,773,612▲ $479,774
Liabilities
Mortgage Notes Payable Secured by Investment Property$63,494,279$68,490,910▲ $4,996,631
Other Liabilities$4,116,078$6,318,214▲ $2,202,136
Accounts Payable and Accrued Expenses$2,587,589$4,334,999▲ $1,747,410
Total Liabilities$70,197,946$79,144,123▲ $8,946,177
Net Assets / Fund Balance
Total Net Assets Fund Balance$38,012,661$39,854,933▲ $1,842,272
Total Liabilities and Net Assets / Fund Balance$108,210,607$118,999,056▲ $10,788,449

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$85,124,425$25,822,485$110,946,910
Equipment$1,976,128$4,718,218$6,694,346
Buildings$5,168,242$1,463,201$6,631,443
Land$736,062-$736,062
Compensation and Service Providers
Top Officer Pay9th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Colby WellsCEOFT$181,633$37,526$219,159
Walter IvyOperations CoordFT$104,342$24,831$129,173
Jeremy LeamonsLinemanFT$101,774$24,432$126,206
Shelly LoeDirector-$9,200$25,872$35,072
Brian KirkseyPresident-$8,400$20,951$29,351
Karen KirkpatrickSecretary/Treas-$8,400$20,703$29,103
Ricky FrancisDirector-$8,400$20,332$28,732
Danny BuckDirector-$6,400$20,703$27,103
Ronnie PenneyVice President-$7,600$15,188$22,788
Scott ClarkDirector-$5,200$10,952$16,152
Tim TroutSecretary/Treas-$4,800$8,370$13,170
Mark BatsonDirector-$4,800-$4,800

Highest Paid Contractors

ContractorServicesLocationCompensation
Ervin Cable Constructionconstruction contrPO Box 932157, Atlanta, GA 31193$4,866,686
MDR Constructionconstruction contractor621 East Baylis Chapel, Columbia, MS 39429$1,809,748
Barnett Right of Way Servicesright of way/constr contrPO Box 761, Hope, AR 71802$1,380,760
Conexon LLCproject mngr/consultant2001 Grand Blvd Ste 700, Kansas City, MO 64108$744,980
C2 Construction LLCconstruction contr250 Hempstead 157, Hope, AR 71801$358,453
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$27,011,842
Investment Income
$503,287
Other Revenue
$7,598,793
Change in Net Assets
$1,352,941

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,113,922
Total Revenue per Audited Statements
$35,113,922
Total Revenue per Form 990
$35,113,922
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$33,335,551
Salaries, Compensation, and Employee Benefits$425,430
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$3,466,222
Interest---$1,982,264
All Other Expenses---$1,944,182
Other Expenses---$1,700,331
Current Officers, Directors, Trustees, and Key Employees---$425,430
Total Functional Expenses$0$0$0$33,760,981

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$33,760,981
Total Expenses per Audited Statements$33,760,981
Total Expenses per Form 990$33,760,981
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Arkansas Electric Coop Copower providerpurchase whsl powerNo$16,629,985

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Current Liabilities$4,565,614
Provision for pension & benefits$819,180
Consumer deposits$735,486
Other Deferred Credits$197,934
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 will be reviewed and approved at the next board meeting”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Policy was adopted December 19, 2008 and requires directors to annually review and sign "Conflict and Interest Certification & Disclosure" form.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Cooperative uses compensation program to review and recommend wages.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Cooperative distributes financial statements to every member via US postal service prior to annual meeting in succeeding year. Governing documents are distributed when members join cooperative.”

Filing and Contact Details

Filer

Filer Name
South Central Arkansas Electric
EIN
71-0165740
Phone
8702466701
Address
PO Box 476, Arkadelphia, AR 71923

Signing Officer

Name
Colby Wells
Title
CEO
Signed
2022-05-11
Discuss with paid preparer
Yes

Organization Details

Formed
1941
Legal Domicile
Ar
Voting Board Members
9
Independent Board Members
9
Employees
52

Preparer

Firm
Curtis Blakely & Co Pc
Address
2403 JUDSON RD, LONGVIEW, TX 75605
Preparer
Rebecca VanNattan CPA
Phone
9037580734
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Decrease in membership fees = -$465”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Donated Capital = $90029”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“FAS158 Adjustment = -$0”

Other Changes In Net Assets Or Fund Balances - Other Increases

“FAS158 Adjustment = $399767”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Increase in membership fees = $0”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Prior Unclaimed capital credit check retirements = -$0”

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Vice President
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IRS990/OtherExpensesGrp/TotalAmt15708340
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$118,999,056
Liabilities
$79,144,123
Net assets
$39,854,933
Revenue
$35,113,922
Expenses
$33,760,981
Net income
$1,352,941
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$126$81.9$44.1$34.4$28.3$6.16
2023Detailed filing. Detailed filing data is available for this year.$128$87.8$40.3$29.3$27.7$1.67
2021Detailed filing. Detailed filing data is available for this year.$119$79.1$39.9$35.1$33.8$1.35
2020Detailed filing. Detailed filing data is available for this year.$108$70.2$38.0$29.5$27.8$1.66
2019Detailed filing. Detailed filing data is available for this year.$92.9$56.7$36.3$28.8$28.4$0.48
2018Detailed filing. Detailed filing data is available for this year.$76.7$40.8$35.9$26.6$25.3$1.35
2017Summary only. Only limited summary data is available for this year.$68.1$33.5$34.6$25.6$24.0$1.57
2016Summary only. Only limited summary data is available for this year.$66.7$33.6$33.1$24.6$23.3$1.31
2015Summary only. Only limited summary data is available for this year.$63.7$31.2$32.5$24.1$22.4$1.69
2014Summary only. Only limited summary data is available for this year.$64.4$33.4$31.0$24.8$22.8$1.94
2013Summary only. Only limited summary data is available for this year.$65.5$36.1$29.3$24.8$21.8$2.99
2012Summary only. Only limited summary data is available for this year.$62.8$36.3$26.5$22.2$19.7$2.41
2011Summary only. Only limited summary data is available for this year.$58.7$34.5$24.2$21.8$20.0$1.84