Southeastern Electric Exchange Inc
Nonprofit profile at a glance
- EIN
- 580435110
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Atlanta, GA, USA
- Phone
- 4042331188
- Rating confidence
- Limited
Reported finances
- Revenue
- $4,729,440
- Expenses
- $3,023,590
- Assets
- $9,013,078
- Liabilities
- $1,069,198
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- BALT GAS ELECT CO (SECOND VICE PRESIDENT)
- CENTERPOINT ENERGY (PRESIDENT)
- TAMPA ELECTRIC COMP (FIRST VICE PRESIDENT)
Highest reported compensation
- SCOTT H SMITH (EXEC DIRECTOR & CORP SECRETARY): $425,890 total reported compensation
- AMY B BEKELE (ADMINISTRATOR): $194,196 total reported compensation
- JOSEPH E HAMMOND (ADMINISTRATOR): $193,541 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Southeastern electric exchange is a non-profit, non-political (non-lobbying) organization of investor-owned electric utility companies. The purpose of the organization is: to promote the common interest and growth of the investor-owned electric utility systems in the region; and to develop and enhance the human, operational and technical resources of member companies to the fullest. This purpose is accomplished through the activities of the association's working groups. In addition to their unique missions and objectives, these groups serve the membership by: facilitating the professional development and growth of individual members by providing new information and skills; developing leaders to represent the common interests of members on national-level organizations; providing a means to present consensus opinions to national standards-making organizations; developing and implementing appropriate research and survey activities; promoting continuous improvement in their fields; and by
What it reported doing in 2024
Conducted 35 working group meetings during the year which were attended by 759 individuals from member companies and provided training and continuing education in the fields of safety and accident prevention; claims administration; integrated resource planning; joint use of facilities and plant; metering and distribution service devices; ami system operations; emergency mutual assistance and logistics; underground distribution networks; overhead distribution; power quality & reliability; electric regulations; real estate & right-of-way mangement; substation maintenance & operations; fleet maintenance & management; transmission line operations; distribution operations control center; and, network underground distribution.
Operating model
- Revenue model
- Earned-program. 95% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 71
- Accountability: 95
- Sustainability: 69
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 36.1%; rating input score 87; 87th percentile among comparable filings
- Total-asset coverage ratio: 2.98; rating input score 73; 73rd percentile among comparable filings
- Liabilities to assets ratio: 0.12; rating input score 55; 55th percentile among comparable filings
- Officer compensation ratio: 31.6%; rating input score 5; 5th percentile among comparable filings
Growth
- Program expense growth: -16.6% per year; rating input score 0; 2nd percentile among comparable filings
- Revenue growth: 8% per year; rating input score 100; 60th percentile among comparable filings
- Asset growth: 10% per year; rating input score 100; 58th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 19 of 19 board members independent · 7 of 8 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $426K · 23 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $123K reported
- Consistency: 13 of 13 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 13 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 5/100.
- Review — Sustainability: Liabilities to assets ratio scored 55/100.