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← DIXIE ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by DIXIE ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$255,138,584
Total expenses
$255,029,811
Contributions and grants received
$0
Grants paid
$20,588
Program service revenue
$253,473,042
Investment income
$220,605
Other revenue
$1,444,937
Total assets, end of year
$712,484,022
Total liabilities, end of year
$592,808,886
Net assets or fund balances, end of year
$119,675,136
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALES OF ELECTRICITY

    total $248,553,434 · related or exempt $248,553,434

  • 2b · Program service revenue: SERVICE FEES

    total $3,616,222 · related or exempt $3,616,222

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $1,303,386 · related or exempt $1,303,386

  • 3 · Investment income

    total $213,061 · excluded $213,061

  • 6a · Gross rents

    personal property $125,655

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $125,655

  • 6d · Net rental income or loss

    total $125,655 · unrelated business $125,655

  • 7a · Gross sales of assets other than inventory

    other assets $7,544

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $7,544

  • 7d · Net gain or loss

    total $7,544 · related or exempt $7,544

  • 10a · Gross sales of inventory

    $546

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $546 · unrelated business $546

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $1,367,304 · excluded $1,367,304

  • 11b · Other revenue: MUTUAL AID ASSISTANCE

    total -$48,568 · related or exempt -$48,568

  • 11e · Other revenue, total

    $1,318,736

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,588

  • 5 · Compensation of officers, directors and key employees

    total $1,868,955

  • 7 · Other salaries and wages

    total $16,631,524

  • 8 · Pension plan contributions

    total $3,059,224

  • 9 · Other employee benefits

    total $10,284,869

  • 10 · Payroll taxes

    total $1,121,498

  • 20 · Interest

    total $16,324,941

  • 22 · Depreciation, depletion and amortization

    total $24,915,109

  • 24a · Other expenses: PURCHASED POWER

    total $147,941,102

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $15,840,836

  • 24c · Other expenses: TAXES

    total $7,002,077

  • 24d · Other expenses: UNRELATED BUS. INC. TAX

    total $15,800

  • 24e · All other expenses

    total $10,003,288

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,114,366 · end of year $6,488,986

  • 4 · Accounts receivable

    beginning of year $27,241,899 · end of year $37,154,013

  • 7 · Other notes and loans receivable

    beginning of year $270,304 · end of year $323,447

  • 8 · Inventories for sale or use

    beginning of year $8,383,208 · end of year $8,890,429

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,355,785 · end of year $10,151,001

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

    $820,352,436

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

    $213,102,176

  • 10c · Land, buildings and equipment, net

    beginning of year $623,096,772 · end of year $607,250,260

  • 13 · Investments: program-related

    beginning of year $12,154,020 · end of year $12,790,543

  • 15 · Other assets

    beginning of year $45,253,970 · end of year $29,435,343

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,275,081 · end of year $29,340,473

  • 23 · Secured mortgages and notes payable

    beginning of year $521,408,355 · end of year $528,342,503

  • 25 · Other liabilities

    beginning of year $45,892,613 · end of year $35,125,910

  • 29 · Capital stock, trust principal or current funds

    beginning of year $374,625 · end of year $356,040

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $118,919,650 · end of year $119,319,096

Mission and programs · 2023

Mission

DEMCO IS COMMITTED TO SAFELY PROVIDING ITS MEMBER-OWNERS WITH ECONOMICAL AND RELIABLE ELECTRIC POWER AND RELATED SERVCES.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 117,458 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Daniel Berthelot

    PRESIDENT

    Total calculated
    $38,603
    From this org
    $38,603
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Randy Lorio

    VICE PRESIDENT

    Total calculated
    $36,265
    From this org
    $36,265
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Dennis Lott

    SECRETARY/TREASURER

    Total calculated
    $17,988
    From this org
    $17,988
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Leslie Falks

    DIRECTOR

    Total calculated
    $39,978
    From this org
    $39,978
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.1

  • Steve Irving

    DIRECTOR

    Total calculated
    $34,278
    From this org
    $34,278
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.1

  • Richard Sitman

    DIRECTOR

    Total calculated
    $38,628
    From this org
    $38,628
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Jill McGraw

    DIRECTOR

    Total calculated
    $22,534
    From this org
    $22,534
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Melissa Dufreche

    DIRECTOR

    Total calculated
    $11,175
    From this org
    $11,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • Edward Delee

    DIRECTOR

    Total calculated
    $33,865
    From this org
    $33,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.9

  • Kevin Beachamp

    DIRECTOR

    Total calculated
    $16,388
    From this org
    $16,388
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Tresa Byrd

    DIRECTOR

    Total calculated
    $20,267
    From this org
    $20,267
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Mike Anderson

    DIRECTOR

    Total calculated
    $9,975
    From this org
    $9,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.8

  • Elinda Taillon

    DIRECTOR

    Total calculated
    $21,467
    From this org
    $21,467
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Randall Pierce

    GENERAL MANAGER/CHIEF EXECUTIVE OFFICER

    Total calculated
    $644,532
    From this org
    $457,241
    From related orgs
    $0
    Other
    $187,291
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $376,085
    Bonus
    $76,008
    Other
    $5,148
    Deferred
    $156,091
    Nontaxable benefits
    $31,200
    Filer's total
    $644,532

  • Peggy Maranan

    CHIEF FINANCIAL OFFICER

    Total calculated
    $271,050
    From this org
    $208,177
    From related orgs
    $0
    Other
    $62,873
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $197,925
    Bonus
    $529
    Other
    $9,723
    Deferred
    $52,865
    Nontaxable benefits
    $10,008
    Filer's total
    $271,050

  • Pearl Overhultz

    CHIEF CORPORATE SERVICES OFFICER

    Total calculated
    $319,839
    From this org
    $162,603
    From related orgs
    $0
    Other
    $157,236
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,265
    Bonus
    $1,221
    Other
    $1,117
    Deferred
    $132,016
    Nontaxable benefits
    $25,220
    Filer's total
    $319,839

  • Mark Phillips

    CHIEF ENGINEERING & OPERATIONS OFFICER

    Total calculated
    $292,123
    From this org
    $178,525
    From related orgs
    $0
    Other
    $113,598
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $166,786
    Bonus
    $601
    Other
    $11,138
    Deferred
    $87,598
    Nontaxable benefits
    $26,000
    Filer's total
    $292,123

  • Melvin Parker

    SUBSTATION TECHNICIAN CREW LEADER

    Total calculated
    $248,540
    From this org
    $183,851
    From related orgs
    $0
    Other
    $64,689
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $137,584
    Bonus
    $1,051
    Other
    $45,216
    Deferred
    $33,419
    Nontaxable benefits
    $31,270
    Filer's total
    $248,540

  • Kevin Commander

    CONTROLLER

    Total calculated
    $180,150
    From this org
    $170,376
    From related orgs
    $0
    Other
    $9,774
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $93,163
    Bonus
    $265
    Other
    $76,948
    Deferred
    $975
    Nontaxable benefits
    $8,799
    Filer's total
    $180,150

  • Matt Gibson

    DIRECTOR OF ENGINEERING

    Total calculated
    $219,151
    From this org
    $166,353
    From related orgs
    $0
    Other
    $52,798
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,101
    Bonus
    $541
    Other
    $711
    Deferred
    $27,802
    Nontaxable benefits
    $24,996
    Filer's total
    $219,151

  • Patrick Mansfield

    INFORMATION TECHNOLOGY MANAGER

    Total calculated
    $240,190
    From this org
    $157,751
    From related orgs
    $0
    Other
    $82,439
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,327
    Bonus
    $565
    Other
    $10,859
    Deferred
    $52,019
    Nontaxable benefits
    $30,420
    Filer's total
    $240,190

  • Scott Delee

    CREW LEADER

    Total calculated
    $180,585
    From this org
    $148,540
    From related orgs
    $0
    Other
    $32,045
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,273
    Bonus
    $1,304
    Other
    $963
    Deferred
    $4,317
    Nontaxable benefits
    $27,728
    Filer's total
    $180,585

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 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

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. RANDALL PIERCE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 146,191 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,900 TOTAL REPORTED IN COLUMN C $ 156,091 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (146,191) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 101,032 EXPENSE TO THE COOPERATIVE $ 110,932 PEARL OVERHULTZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 127,036 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,980 TOTAL REPORTED IN COLUMN C $ 132,016 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (127,036) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,521 EXPENSE TO THE COOPERATIVE $ 52,501 MARK PHILLIPS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 82,412 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,186 TOTAL REPORTED IN COLUMN C $ 87,598 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (82,412) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,960 EXPENSE TO THE COOPERATIVE $ 53,146 PEGGY MARANAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,978 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,887 TOTAL REPORTED IN COLUMN C $ 52,865 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (46,978) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,257 EXPENSE TO THE COOPERATIVE $ 62,144 MELVIN PARKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,379 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,040 TOTAL REPORTED IN COLUMN C $ 33,419 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,379) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,122 EXPENSE TO THE COOPERATIVE $ 25,162 PATRICK MANSFIELD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,295 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,724 TOTAL REPORTED IN COLUMN C $ 52,019 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,295) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 46,286 EXPENSE TO THE COOPERATIVE $ 51,010 MATT GIBSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,031 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,771 TOTAL REPORTED IN COLUMN C $ 27,802 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,031) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,591 EXPENSE TO THE COOPERATIVE $ 50,362 SCOTT DELEE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,317 TOTAL REPORTED IN COLUMN C $ 4,317 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,044 EXPENSE TO THE COOPERATIVE $ 26,361 KEVIN COMMANDER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 975 TOTAL REPORTED IN COLUMN C $ 975 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 12,323 EXPENSE TO THE COOPERATIVE $ 13,298

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • DIXIE BUSINESS DEVELOPMENT CENTER

    501(C)(4) · INCUBATOR PROGRAM TO HELP NEW BUSINESS DEVELOP, GROW, AND SUCCEED · LA · controlled entity

    Directly controlled by DIXIE ELECTRIC MEMBERSHIP CORPORATION

  • DEMCO FOUNDATION INC

    501(C)(3) · PROVIDES CHARITABLE ASSISTANCE TO INDIVIDUALS IN THE DEMCO SERVICE AREA · LA · controlled entity

    Directly controlled by DIXIE ELECTRIC MEMBERSHIP CORPORATION

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • DEMCO ENERGY SERVICES LLC

    C · PROVIDES SURGE PROTECTION SERVICES IN SOUTHEASTERN LA · LA · 100% owned · share of income $453,991 · share of assets $778,826 · controlled entity

    Directly controlled by DIXIE ELECTRIC MEMEBERSHIP CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413219349301206

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