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Nonprofiteer
← YAZOO VALLEY ELECTRIC POWER ASSN

Form 990 for tax year 2023

Filed by YAZOO VALLEY ELECTRIC POWER ASSN.

Totals

Total revenue
$54,468,009
Total expenses
$54,468,009
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$53,050,694
Investment income
$224,672
Other revenue
$1,192,643
Total assets, end of year
$96,055,819
Total liabilities, end of year
$42,152,571
Net assets or fund balances, end of year
$53,903,248
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 REVENUE

    total $52,692,342 · related or exempt $52,692,342

  • 2b · Program service revenue: QUALIFIED POLE RENTAL

    total $358,352 · excluded $358,352

  • 3 · Investment income

    total $224,672 · excluded $224,672

  • 11a · Other revenue: G&T AND OTHER PATRONAGE

    total $1,153,698 · related or exempt $1,153,698

  • 11b · Other revenue: OTHER NON-OPERATING REVENUE

    total $38,945 · related or exempt $38,945

  • 11e · Other revenue, total

    $1,192,643

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,490,718

  • 5 · Compensation of officers, directors and key employees

    total $643,226

  • 11b · Fees: legal

    total $42,857

  • 11c · Fees: accounting

    total $23,000

  • 20 · Interest

    total $1,274,532

  • 22 · Depreciation, depletion and amortization

    total $2,993,019

  • 24a · Other expenses: COST OF POWER

    total $38,898,274

  • 24b · Other expenses: DISTRIBUTION- MAINTENANCE

    total $3,703,324

  • 24c · Other expenses: DISITRIBUTION-OPERATIONS

    total $1,638,933

  • 24d · Other expenses: ADMINISTRATIVE & GENERAL

    total $1,514,089

  • 24e · All other expenses

    total $1,246,037

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,007,519 · end of year $4,682,979

  • 2 · Savings and temporary cash investments

    beginning of year $2,666,000 · end of year $3,306,000

  • 4 · Accounts receivable

    beginning of year $4,348,715 · end of year $5,325,758

  • 8 · Inventories for sale or use

    beginning of year $541,689 · end of year $437,920

  • 9 · Prepaid expenses and deferred charges

    beginning of year $808,401 · end of year $551,881

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

    $95,532,020

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

    $37,680,131

  • 10c · Land, buildings and equipment, net

    beginning of year $57,400,804 · end of year $57,851,889

  • 13 · Investments: program-related

    beginning of year $23,428,567 · end of year $23,899,392

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,757,603 · end of year $3,293,783

  • 23 · Secured mortgages and notes payable

    beginning of year $31,670,968 · end of year $32,570,465

  • 25 · Other liabilities

    beginning of year $5,188,056 · end of year $6,288,323

  • 29 · Capital stock, trust principal or current funds

    beginning of year $188,969 · end of year $189,036

  • 31 · Retained earnings, endowment or other funds

    beginning of year $52,396,099 · end of year $53,714,212

Mission and programs · 2023

Mission

THE ASSOCIATION EXISTS FOR THE PURPOSE OF DISTRIBUTING ELECTRICAL POWER TO ITS MEMBERS AT THE LOWEST POSSIBLE COST.

Activities or mission (Part I)

THE ASSOCIATION EXISTS FOR THE PURPOSE OF DISTRIBUTING ELECTRICAL POWER TO ITS MEMBERS

  • YAZOO VALLEY ELECTRIC UTILIZES OVER 2100 MILES OF ELECTRICAL DISTRIBUTION LINES AND SUBSTATIONS TO DELIVER APPROXIMATELY 566,000,000 KWH OF ELECTRICAL ENERGY TO APPROXIMATELY 10,000 ACCOUNTS COMPRISED OF RESIDENTIAL, COMMERCIAL,AGRICULTURAL, AND INDUSTRIAL MEMBERS IN RURAL WEST-CENTRAL MISSISSIPPI.

As filed on the 2023 return.

Listed in Part VII

  • Michael K Neely Jr

    GENERAL MANA

    Total calculated
    $315,207
    From this org
    $228,560
    From related orgs
    $0
    Other
    $86,647
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $203,560
    Bonus
    $25,000
    Other
    not reported
    Deferred
    $65,017
    Nontaxable benefits
    $21,630
    Filer's total
    $315,207

  • Brian L Crawford

    CFO

    Total calculated
    $240,868
    From this org
    $176,430
    From related orgs
    $0
    Other
    $64,438
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,430
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,795
    Nontaxable benefits
    $22,643
    Filer's total
    $240,868

  • Benjamin B Rush

    MNGR-METERIN

    Total calculated
    $209,489
    From this org
    $133,437
    From related orgs
    $0
    Other
    $76,052
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $133,437
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,982
    Nontaxable benefits
    $18,070
    Filer's total
    $209,489

  • Jimmy Pettis

    FLEET MANAGE

    Total calculated
    $179,054
    From this org
    $129,342
    From related orgs
    $0
    Other
    $49,712
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $129,342
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,594
    Nontaxable benefits
    $7,118
    Filer's total
    $179,054

  • Charles R Bates

    MGR OF ENGIN

    Total calculated
    $176,138
    From this org
    $124,316
    From related orgs
    $0
    Other
    $51,822
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,316
    Bonus
    not reported
    Other
    not reported
    Deferred
    $35,253
    Nontaxable benefits
    $16,569
    Filer's total
    $176,138

  • Brett R Cerda

    MANAGER-OPER

    Total calculated
    $174,791
    From this org
    $129,627
    From related orgs
    $0
    Other
    $45,164
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,627
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,992
    Nontaxable benefits
    $21,172
    Filer's total
    $174,791

  • Rebecca M Yeates

    MANAGER-HUMA

    Total calculated
    $174,331
    From this org
    $126,868
    From related orgs
    $0
    Other
    $47,463
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $126,868
    Bonus
    not reported
    Other
    not reported
    Deferred
    $24,533
    Nontaxable benefits
    $22,930
    Filer's total
    $174,331

  • Louis S Thompson

    PRESIDENT

    Total calculated
    $16,442
    From this org
    $16,442
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Cindy M Shipp

    VICE PRESIDE

    Total calculated
    $13,274
    From this org
    $13,274
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Wf Anderson

    DIRECTOR

    Total calculated
    $12,001
    From this org
    $12,001
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • David S Wansley

    DIRECTOR

    Total calculated
    $11,902
    From this org
    $11,902
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Albert J Dornbusch

    ASST SEC/TRE

    Total calculated
    $11,792
    From this org
    $11,792
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gregory Moseley

    DIRECTOR

    Total calculated
    $11,169
    From this org
    $11,169
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Wm Link Jr

    SEC/TREAS

    Total calculated
    $10,571
    From this org
    $10,571
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · Written employment contract
  • 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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.0
Source object
202443179349308124

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