SOUTHERN INDIANA REC INC

EIN: 350672654 Public & Societal Benefit

TELL CITY, IN

Total Revenue
$44,442,006
Total Expenses
$44,442,006
Total Assets
$84,203,592
Net Assets
$48,467,512
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1939
Legal Domicile
IN
Principal Officer
STEVE SEIBERT
Phone
8125472316
Tax Period
2023-01-01 to 2023-12-31

SOUTHERN INDIANA REC INC, founded in 1939, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $44.4M in total revenue in fiscal year 2023.

Mission

TO PROVIDE SAFE, RELIABLE, AND AFFORDABLE POWER WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $42,120,643
Investment Income $800,728
Other Revenue $1,520,635
TOTAL REVENUE $44,442,006

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,944,706
Fundraising Expenses $0
Program Expenses $44,442,006
Other Expenses $38,835,760
TOTAL EXPENSES $44,442,006

Year-over-Year Comparison

2023 2022 Change
Revenue $44,442,006 $46,685,801 0.0%
Expenses $44,442,006 $46,685,801 0.0%
Net Income $0 $0 N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
7
Employees
32
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$312,101
Total Directors
7
$69,700
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF VOGEL CHAIRMAN 3.50
Director
$10,350 $0 $10,350
GARY WANINGER VICE CHAIRMAN 3.90
Director
$7,850 $0 $7,850
RANDALL KLEAVING DIRECTOR 3.40
Director
$9,950 $0 $9,950
DIRK STEIN SECRETARY 4.40
Director
$11,350 $0 $11,350
DAVID LYNCH DIRECTOR 3.10
Director
$9,250 $0 $9,250
CHRIS BURROUGHS DIRECTOR 3.80
Director
$9,600 $0 $9,600
KYLE KNIERIEM DIRECTOR 4.10
Director
$11,350 $0 $11,350
STEVEN SEIBERT PRESIDENT/CEO 50.00
Officer
$242,765 $69,336 $312,101
STEPHEN FORTWENDEL MANAGER OF OPERATIONS 50.00
Highest
$119,357 $43,414 $162,771
TODD HAMMOND MANAGER OF ENGINEERING 40.00
Highest
$113,942 $46,921 $160,863
MATHEW GLENN JOURNEYMAN LINEMAN 42.00
Highest
$108,810 $30,122 $138,932
TRAVIS GOFFINET JOURNEYMAN LINEMAN 45.00
Highest
$121,565 $36,442 $158,007
CLINT HEEKE JOURNEYMAN LINEMAN 45.00
Highest
$116,294 $30,650 $146,944
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $44,442,006 $44,442,006 $84,203,592 No data
2022 $46,685,801 $46,685,801 $76,919,602 No data
2021 $39,497,094 $39,497,094 $70,453,737 No data
2020 $35,101,049 $35,101,049 $64,779,410 No data
2019 $37,972,209 $37,972,209 $61,193,730 No data
2018 $40,643,623 $40,643,623 $60,785,325 No data
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