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Nonprofiteer
← SOUTHWEST MISSISSIPPI ELECTRIC

Form 990 for tax year 2025

Filed by SOUTHWEST MISSISSIPPI ELECTRIC.

Totals

Total revenue
$69,633,634
Total expenses
$69,633,634
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$68,185,096
Investment income
$154,312
Other revenue
$1,294,226
Total assets, end of year
$151,442,589
Total liabilities, end of year
$81,374,256
Net assets or fund balances, end of year
$70,068,333
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: OPERATING REVENUES-MEMBER

    total $67,457,496 · related or exempt $67,457,496

  • 2b · Program service revenue: QUALIFIED POLE RENTAL INCOME

    total $727,600 · excluded $727,600

  • 3 · Investment income

    total $154,312 · excluded $154,312

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $1,273,045 · related or exempt $1,273,045

  • 11b · Other revenue: OTHER MEMBER INCOME

    total $21,181 · related or exempt $21,181

  • 11e · Other revenue, total

    $1,294,226

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,158,986

  • 5 · Compensation of officers, directors and key employees

    total $652,252

  • 11b · Fees: legal

    total $30,582

  • 11c · Fees: accounting

    total $29,261

  • 11g · Fees: other

    total $40,965

  • 12 · Advertising and promotion

    total $207,418

  • 14 · Information technology

    total $10,915

  • 17 · Travel

    total $105,512

  • 20 · Interest

    total $2,752,618

  • 22 · Depreciation, depletion and amortization

    total $4,206,581

  • 24a · Other expenses: COST OF POWER

    total $42,627,682

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $11,150,947

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $3,126,275

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $1,869,455

  • 24e · All other expenses

    total $1,664,185

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,696,810 · end of year $3,087,915

  • 4 · Accounts receivable

    beginning of year $3,499,535 · end of year $4,075,173

  • 8 · Inventories for sale or use

    beginning of year $2,094,987 · end of year $1,617,632

  • 9 · Prepaid expenses and deferred charges

    beginning of year $440,573 · end of year $548,959

  • 10a · Land, buildings and equipment: cost or other basis

    $154,341,900

  • 10b · Land, buildings and equipment: accumulated depreciation

    $42,680,222

  • 10c · Land, buildings and equipment, net

    beginning of year $100,278,938 · end of year $111,661,678

  • 15 · Other assets

    beginning of year $29,815,565 · end of year $30,451,232

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,111,630 · end of year $10,658,210

  • 19 · Deferred revenue

    beginning of year $900,000

  • 23 · Secured mortgages and notes payable

    beginning of year $58,646,951 · end of year $69,403,682

  • 25 · Other liabilities

    beginning of year $1,357,959 · end of year $1,312,364

  • 29 · Capital stock, trust principal or current funds

    beginning of year $100,520 · end of year $100,250

  • 31 · Retained earnings, endowment or other funds

    beginning of year $69,709,349 · end of year $69,968,083

Mission and programs · 2025

Mission

MEMBER OWNED ELECTRIC COOPERATIVE.

  • DISTRIBUTION OF ELECTRIC POWER TO MEMBERS.

As filed on the 2025 return.

Listed in Part VII

  • Kevin Bonds

    CEO

    Total calculated
    $419,469
    From this org
    $339,953
    From related orgs
    $0
    Other
    $79,516
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $339,953
    Bonus
    not reported
    Other
    not reported
    Deferred
    $54,874
    Nontaxable benefits
    $24,642
    Filer's total
    $419,469

  • William Newell

    SERVICEMAN

    Total calculated
    $214,151
    From this org
    $174,290
    From related orgs
    $0
    Other
    $39,861
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,290
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,025
    Nontaxable benefits
    $22,836
    Filer's total
    $214,151

  • Darryl Hassell

    MGR OF ENGIN

    Total calculated
    $200,497
    From this org
    $156,618
    From related orgs
    $0
    Other
    $43,879
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,618
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,134
    Nontaxable benefits
    $18,745
    Filer's total
    $200,497

  • Thomas J Floyd

    CREW LEADER

    Total calculated
    $198,136
    From this org
    $158,568
    From related orgs
    $0
    Other
    $39,568
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,568
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,325
    Nontaxable benefits
    $23,243
    Filer's total
    $198,136

  • Kevin Cotten

    MGR. OF OPER

    Total calculated
    $188,651
    From this org
    $141,475
    From related orgs
    $0
    Other
    $47,176
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,475
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,394
    Nontaxable benefits
    $23,782
    Filer's total
    $188,651

  • Virgil Scott

    MGR OF ACCOU

    Total calculated
    $165,391
    From this org
    $134,861
    From related orgs
    $0
    Other
    $30,530
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,861
    Bonus
    not reported
    Other
    not reported
    Deferred
    $21,681
    Nontaxable benefits
    $8,849
    Filer's total
    $165,391

  • Michael Johnson

    CREW LEADER

    Total calculated
    $163,370
    From this org
    $138,065
    From related orgs
    $0
    Other
    $25,305
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,065
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,816
    Nontaxable benefits
    $8,489
    Filer's total
    $163,370

  • Stanley Rucker

    PRESIDENT

    Total calculated
    $13,800
    From this org
    $13,500
    From related orgs
    $0
    Other
    $300
    Hours/week
    6

  • Paul Arnold

    DIRECTOR

    Total calculated
    $8,152
    From this org
    $7,800
    From related orgs
    $0
    Other
    $352
    Hours/week
    5

  • Mark Phillip Maher

    DIRECTOR

    Total calculated
    $8,152
    From this org
    $7,800
    From related orgs
    $0
    Other
    $352
    Hours/week
    5

  • Randy Wooley

    VICE PRESIDE

    Total calculated
    $7,852
    From this org
    $7,500
    From related orgs
    $0
    Other
    $352
    Hours/week
    4.5

  • John Brady

    ASSIST SECRE

    Total calculated
    $7,552
    From this org
    $7,200
    From related orgs
    $0
    Other
    $352
    Hours/week
    4

  • Betsy Mosby

    SECRETARY

    Total calculated
    $7,052
    From this org
    $6,700
    From related orgs
    $0
    Other
    $352
    Hours/week
    3.5

  • Diane Davaul

    DIRECTOR

    Total calculated
    $6,652
    From this org
    $6,300
    From related orgs
    $0
    Other
    $352
    Hours/week
    3.25

  • Edward Edwards

    DIRECTOR

    Total calculated
    $6,352
    From this org
    $6,000
    From related orgs
    $0
    Other
    $352
    Hours/week
    3

  • Robert Jones

    DIRECTOR

    Total calculated
    $6,352
    From this org
    $6,000
    From related orgs
    $0
    Other
    $352
    Hours/week
    3

  • Brian Dooley

    DIRECTOR

    Total calculated
    $2,088
    From this org
    $2,000
    From related orgs
    $0
    Other
    $88
    Hours/week
    3

  • James A Ventress-Retired 325

    DIRECTOR

    Total calculated
    $1,539
    From this org
    $1,500
    From related orgs
    $0
    Other
    $39
    Hours/week
    3.25

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOUTHWEST FIBER LLC

    MS

Provenance

Return type
form_990
Tax year
2025
Filed
19 March 2026
IRS schema version
2025v4.0
Source object
202640789349301519

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