Civic Intelligence

Southwestern Power Resources Association Inc

EIN 73-0999766 • 501(c)6 • Tulsa, OK

Profile

An association of consumer and member-owners receive a preference in the purchase of federal power from the southwestern power administration.

15 West 6th St STE 1310Tulsa, OK 74119

www.sprahydro.com

Siviq Scores

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

Liabilities / Assets

98th percentile

1.00x

Higher debt load relative to assets than 98% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

204.17x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Source year 2024

Net Margin

11th percentile

-17%

Higher net margin than 11% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

66th percentile

11%

Faster asset growth than 66% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

80th percentile

27%

Faster revenue growth than 80% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$162,445,742

Up $16,006,446 (+11%) from 2023

Liabilities

Up

$162,322,347

Up $16,144,667 (+11%) from 2023

Net Assets

Down

$123,395

Down $138,221 (-53%) from 2023

Revenue

Up

$795,033

Up $168,050 (+27%) from 2023

Expenses

Up

$928,750

Up $68,622 (+8.0%) from 2023

Net Income

Up

-$133,717

Up $99,428 (+43%) from 2023

Trend Graphs

Balance Sheet Trend

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

$200M$150M$100M$50M$0-$50MAssets 2010: $419,559Liabilities 2010: $1,469Net Assets 2010: $418,0902010Assets 2011: $321,211Liabilities 2011: $1,437Net Assets 2011: $319,7742011Assets 2012: $334,505Liabilities 2012: $1,488Net Assets 2012: $333,0172012Assets 2013: $315,657Liabilities 2013: $2,600Net Assets 2013: $313,0572013Assets 2014: $302,934Liabilities 2014: -$6,577Net Assets 2014: $309,5112014Assets 2015: $203,555Liabilities 2015: -$6,404Net Assets 2015: $209,9592015Assets 2016: $283,305Liabilities 2016: $1,994Net Assets 2016: $281,3112016Assets 2017: $432,288Liabilities 2017: $3,289Net Assets 2017: $428,9992017Assets 2018: $529,414Liabilities 2018: $6,530Net Assets 2018: $522,8842018Assets 2019: $610,443Liabilities 2019: $1,416Net Assets 2019: $609,0272019Assets 2020: $155,009,324Liabilities 2020: $154,381,545Net Assets 2020: $627,7792020Assets 2021: $162,770,018Liabilities 2021: $162,133,180Net Assets 2021: $636,8382021Assets 2022: $159,254,833Liabilities 2022: $158,771,243Net Assets 2022: $483,5902022Assets 2023: $146,439,296Liabilities 2023: $146,177,680Net Assets 2023: $261,6162023Assets 2024: $162,445,742Liabilities 2024: $162,322,347Net Assets 2024: $123,3952024

Highlighted filing

2024

Assets$162,445,742
Liabilities$162,322,347
Net Assets$123,395

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2010: $516,917Expenses 2010: $513,467Net Income 2010: $3,4502010Revenue 2011: $405,174Expenses 2011: $500,000Net Income 2011: -$94,8262011Revenue 2012: $531,094Expenses 2012: $535,004Net Income 2012: -$3,9102012Revenue 2013: $528,270Expenses 2013: $556,139Net Income 2013: -$27,8692013Revenue 2014: $571,132Expenses 2014: $576,912Net Income 2014: -$5,7802014Revenue 2015: $507,413Expenses 2015: $602,711Net Income 2015: -$95,2982015Revenue 2016: $548,459Expenses 2016: $476,349Net Income 2016: $72,1102016Revenue 2017: $628,603Expenses 2017: $491,429Net Income 2017: $137,1742017Revenue 2018: $629,010Expenses 2018: $521,775Net Income 2018: $107,2352018Revenue 2019: $629,364Expenses 2019: $561,469Net Income 2019: $67,8952019Revenue 2020: $626,944Expenses 2020: $618,825Net Income 2020: $8,1192020Revenue 2021: $635,375Expenses 2021: $639,786Net Income 2021: -$4,4112021Revenue 2022: $633,880Expenses 2022: $740,931Net Income 2022: -$107,0512022Revenue 2023: $626,983Expenses 2023: $860,128Net Income 2023: -$233,1452023Revenue 2024: $795,033Expenses 2024: $928,750Net Income 2024: -$133,7172024

Highlighted filing

2024

Revenue$795,033
Expenses$928,750
Net Income-$133,717

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$162$162$0.12$0.80$0.93$0.13
2023Detailed filing. Detailed filing data is available for this year.$146$146$0.26$0.63$0.86$0.23
2022Detailed filing. Detailed filing data is available for this year.$159$159$0.48$0.63$0.74$0.11
2021Detailed filing. Detailed filing data is available for this year.$163$162$0.64$0.64$0.64$0.00
2020Detailed filing. Detailed filing data is available for this year.$155$154$0.63$0.63$0.62$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.61$0.00$0.61$0.63$0.56$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.53$0.01$0.52$0.63$0.52$0.11
2017Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.43$0.63$0.49$0.14
2016Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$0.55$0.48$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.20$0.01$0.21$0.51$0.60$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.31$0.57$0.58$0.01
2013Summary only. Only limited summary data is available for this year.$0.32$0.00$0.31$0.53$0.56$0.03
2012Summary only. Only limited summary data is available for this year.$0.33$0.00$0.33$0.53$0.54$0.00
2011Summary only. Only limited summary data is available for this year.$0.32$0.00$0.32$0.41$0.50$0.09
2010Summary only. Only limited summary data is available for this year.$0.42$0.00$0.42$0.52$0.51$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.1
Gross Receipts
$795,033
Mission and Program Overview

Mission

An association of consumer and member-owners receive a preference in the purchase of federal power from the southwestern power administration.

An association of consumer and member-owners receive a preference in the purchase of federal power from the southwestern power administration

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$145,776$61,049▼ $84,727
Savings and Temporary Cash Investments$43,220$47,195▲ $3,975
Cash and Non-Interest-Bearing Accounts$72,620$15,151▼ $57,469
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$146,439,296$162,445,742▲ $16,006,446
Other Assets Total$146,177,680$162,322,347▲ $16,144,667
Liabilities
Escrow Account Liability$146,177,680$162,322,347▲ $16,144,667
Other Liabilities$0$0→ $0
Total Liabilities$146,177,680$162,322,347▲ $16,144,667
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$261,616$123,395▼ $138,221
Total Net Assets Fund Balance$261,616$123,395▼ $138,221
Total Liabilities and Net Assets / Fund Balance$146,439,296$162,445,742▲ $16,006,446

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$14,098$14,098
Equipment$0$6,311$6,311
Other Assets Org$162,322,347--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicki FullerExecutive DirectorFT$232,295$87,516$319,811
Alice WiltseDirector of OperationsFT$68,608$28,418$97,026

Board Members and Trustees

NameTitle
Brian AckermanPresident
Andrew LachowskyDirector
Bill BachDirector
Bruce MintzDirector
Darrell CalhounDirector
Jake RiceDirector
James StriedelDirector
Jeff LittleDirector
Leslie FalksDirector
Marcus RenfrowDirector
Ryan TutorDirector
Mark BarbeeSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$778,262
Investment Income
$16,771
Other Revenue
$0
Change in Net Assets
$-133,717

Audited Revenue Reconciliation

Revenue per Audited Statements
$795,033
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-4,504
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$790,529
Total Revenue per Form 990
$795,033
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$487,383
Salaries, Compensation, and Employee Benefits$441,367
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$416,837
Fees for Services Other---$171,125
Fees for Services Lobbying---$85,594
Travel---$53,814
Conferences and Meetings---$53,765
Occupancy---$43,089
Fees for Services Accounting---$30,688
Payroll Taxes---$19,364
Fees for Services Legal---$17,000
Office Expenses---$12,095
Insurance---$8,863
Information Technology---$3,988
Other Employee Benefits---$3,422
Pension Plan Contributions---$1,744
Other Expenses---$1,405
Advertising---$928
Total Functional Expenses$0$0$0$928,750

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$928,750
Total Expenses per Audited Statements$928,750
Total Expenses per Form 990$928,750
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
Lobbying activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 6 Classes of members or stockholders

Any electric cooperative, public power system, state power generating agency or authority, reclamation district which generates electricity, or association thereof, located or doing business within the states of missouri, oklahoma, texas, arkansas, louisiana, or kansas shall be eligible to apply for membership subject to board approval. All members in good standing may vote.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Any member in good standing may vote to elect board positions as they become open during the annual meeting.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The organization uses an outside accounting firm to prepare form 990. Management reviews the 990 and provides it to the board and the executive committee before filing with the irs.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

Each year the executive committee reviews the actions and accomplishments of the executive director. They determine the salary of the executive director based on this extensive review. The board approves the salary in executive session when reviewing the annual budget.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The executive director reviews the director of operations' compensation annually, which is documented in personnel files. The board approves salary increases when reviewing the annual budget.

Form 990, Part VI, Line 19 Required documents available to the public

Governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Southwestern Power Resources Association Inc
EIN
73-0999766
Phone
9186227800
Address
15 West 6th St STE 1310, Tulsa, OK 74119

Signing Officer

Name
Alice Wiltse
Title
Director of Operations
Phone
9186227800
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1976
Legal Domicile
Ok
Voting Board Members
12
Independent Board Members
12
Employees
2
Volunteers
12

Preparer

Firm
Forvis Mazars LLP
Address
14221 Dallas Parkway Suite 400, Dallas, TX 75254
Preparer
Robert Ulloa
Phone
9727028262
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

MOA ENGINEERING CONSULTANT - Total Expense: 162555, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; CORPS CONSULTANT - Total Expense: 8570, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ;

Form 990, Part XII, Line 1 ACCOUNTING METHOD USED TO PREPARE THE FORM 990:

The return has been prepared using a modified cash basis of accounting. Modifications to the cash basis of accounting include recording property and equipment and related provisions for depreciation, certificates of deposit and investments and related unrealized gains and losses on marketable equity securities, and funds held for others.

Financial Statement Notes

Schedule D, Part X, Line 2 LIABILITY FOR UNCERTAIN TAX POSITIONS:

The association is a nonprofit organization, exempt from income taxes under section 501(c)(6) of the internal revenue code. Therefore, the accompanying financial statements contain no provision or liability for income taxes. The entity is liable for taxes to the extent of any unrelated business income as defined by internal revenue service (irs) regulations. Management has determined that the association has not engaged in any unrelated business income as defined by irs regulations and thus it is not subject to unrelated business income tax. Management believes that the association has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The association would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.

Schedule D, Part IV, Line 2B Explanation of escrow agreement

The association took ownership of a trust to hold funds on behalf of association members and to periodically disburse such funds to the corps of engineers in accordance with agreements among members, the association, southwestern power administration, and the corps of engineers for the purpose of participating in funding of certain corps of engineers maintenance projects. The trust is administered by centennial bank as trustee. While the association is owner of the related trust bank account and stated grantor and beneficiary of the trust, the association only serves as an agent and funds are held for the benefit of members and the corps of engineers. In accordance with fasb accounting standards codification 958-325, the association recognizes the funds held in the trust as both an asset and a liability on its financial statements.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION IS A NONPROFIT ORGANIZATION, EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. THEREFORE, THE ACCOMPANYING FINANCIAL STATEMENTS CONTAIN NO PROVISION OR LIABILITY FOR INCOME TAXES. THE ENTITY IS LIABLE FOR TAXES TO THE EXTENT OF ANY UNRELATED BUSINESS INCOME AS DEFINED BY INTERNAL REVENUE SERVICE (IRS) REGULATIONS. MANAGEMENT HAS DETERMINED THAT THE ASSOCIATION HAS NOT ENGAGED IN ANY UNRELATED BUSINESS INCOME AS DEFINED BY IRS REGULATIONS AND THUS IT IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX. MANAGEMENT BELIEVES THAT THE ASSOCIATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ASSOCIATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION TOOK OWNERSHIP OF A TRUST TO HOLD FUNDS ON BEHALF OF ASSOCIATION MEMBERS AND TO PERIODICALLY DISBURSE SUCH FUNDS TO THE CORPS OF ENGINEERS IN ACCORDANCE WITH AGREEMENTS AMONG MEMBERS, THE ASSOCIATION, SOUTHWESTERN POWER ADMINISTRATION, AND THE CORPS OF ENGINEERS FOR THE PURPOSE OF PARTICIPATING IN FUNDING OF CERTAIN CORPS OF ENGINEERS MAINTENANCE PROJECTS. THE TRUST IS ADMINISTERED BY CENTENNIAL BANK AS TRUSTEE. WHILE THE ASSOCIATION IS OWNER OF THE RELATED TRUST BANK ACCOUNT AND STATED GRANTOR AND BENEFICIARY OF THE TRUST, THE ASSOCIATION ONLY SERVES AS AN AGENT AND FUNDS ARE HELD FOR THE BENEFIT OF MEMBERS AND THE CORPS OF ENGINEERS. IN ACCORDANCE WITH FASB ACCOUNTING STANDARDS CODIFICATION 958-325, THE ASSOCIATION RECOGNIZES THE FUNDS HELD IN THE TRUST AS BOTH AN ASSET AND A LIABILITY ON ITS FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 LIABILITY FOR UNCERTAIN TAX POSITIONS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part IV, Line 2b Explanation of escrow agreement
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANY ELECTRIC COOPERATIVE, PUBLIC POWER SYSTEM, STATE POWER GENERATING AGENCY OR AUTHORITY, RECLAMATION DISTRICT WHICH GENERATES ELECTRICITY, OR ASSOCIATION THEREOF, LOCATED OR DOING BUSINESS WITHIN THE STATES OF MISSOURI, OKLAHOMA, TEXAS, ARKANSAS, LOUISIANA, OR KANSAS SHALL BE ELIGIBLE TO APPLY FOR MEMBERSHIP SUBJECT TO BOARD APPROVAL. ALL MEMBERS IN GOOD STANDING MAY VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY MEMBER IN GOOD STANDING MAY VOTE TO ELECT BOARD POSITIONS AS THEY BECOME OPEN DURING THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION USES AN OUTSIDE ACCOUNTING FIRM TO PREPARE FORM 990. MANAGEMENT REVIEWS THE 990 AND PROVIDES IT TO THE BOARD AND THE EXECUTIVE COMMITTEE BEFORE FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH YEAR THE EXECUTIVE COMMITTEE REVIEWS THE ACTIONS AND ACCOMPLISHMENTS OF THE EXECUTIVE DIRECTOR. THEY DETERMINE THE SALARY OF THE EXECUTIVE DIRECTOR BASED ON THIS EXTENSIVE REVIEW. THE BOARD APPROVES THE SALARY IN EXECUTIVE SESSION WHEN REVIEWING THE ANNUAL BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE DIRECTOR REVIEWS THE DIRECTOR OF OPERATIONS' COMPENSATION ANNUALLY, WHICH IS DOCUMENTED IN PERSONNEL FILES. THE BOARD APPROVES SALARY INCREASES WHEN REVIEWING THE ANNUAL BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MOA ENGINEERING CONSULTANT - Total Expense: 162555, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; CORPS CONSULTANT - Total Expense: 8570, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ;
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE RETURN HAS BEEN PREPARED USING A MODIFIED CASH BASIS OF ACCOUNTING. MODIFICATIONS TO THE CASH BASIS OF ACCOUNTING INCLUDE RECORDING PROPERTY AND EQUIPMENT AND RELATED PROVISIONS FOR DEPRECIATION, CERTIFICATES OF DEPOSIT AND INVESTMENTS AND RELATED UNREALIZED GAINS AND LOSSES ON MARKETABLE EQUITY SECURITIES, AND FUNDS HELD FOR OTHERS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6 Classes of members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a Process to establish compensation of top management official
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b Process to establish compensation of other employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 11g Other Fees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part XII, Line 1 ACCOUNTING METHOD USED TO PREPARE THE FORM 990:
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