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Nonprofiteer
← TISHOMINGO CO ELECTRIC POWER ASSN

Form 990 for tax year 2022

Filed by TISHOMINGO CO ELECTRIC POWER ASSN.

Totals

Total revenue
$13,519,440
Total expenses
$10,638,474
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$757,893
Other revenue
$12,761,547
Total assets, end of year
$60,930,122
Total liabilities, end of year
$22,602,117
Net assets or fund balances, end of year
$38,328,005
Program services expenses (Part IX)
$10,638,474
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$10,638,474

Program services were 100.0% 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.

  • 3 · Investment income

    total $757,893 · related or exempt $701,983 · unrelated business $55,910

  • 6a · Gross rents

    real property $1,311,564 · personal property $1,380,968

  • 6c · Rental income or loss

    real property $1,311,564 · personal property $1,380,968

  • 6d · Net rental income or loss

    total $2,692,532 · unrelated business $1,311,564 · excluded $1,380,968

  • 10a · Gross sales of inventory

    $35,405,274

  • 10b · Cost of goods sold

    $25,336,259

  • 10c · Net income from sales of inventory

    total $10,069,015 · related or exempt $10,069,015

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $687,265 · program services $687,265

  • 6 · Compensation of disqualified persons

    total $198,009 · program services $198,009

  • 7 · Other salaries and wages

    total $2,542,533 · program services $2,542,533

  • 9 · Other employee benefits

    total $129,004 · program services $129,004

  • 11b · Fees: legal

    total $3,304 · program services $3,304

  • 11c · Fees: accounting

    total $21,750 · program services $21,750

  • 13 · Office expenses

    total $151,486 · program services $151,486

  • 20 · Interest

    total $531,122 · program services $531,122

  • 22 · Depreciation, depletion and amortization

    total $3,020,577 · program services $3,020,577

  • 24a · Other expenses: MAINTENANCE-DISTRIBUTION

    total $1,181,562 · program services $1,181,562

  • 24b · Other expenses: DISTRIBUTION EXPENSE-OPER

    total $881,725 · program services $881,725

  • 24c · Other expenses: CUSTOMER ACCOUNTS EXPENSE

    total $793,706 · program services $793,706

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $221,549 · program services $221,549

  • 24e · All other expenses

    total $274,882 · program services $274,882

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,509,892 · end of year $4,050,728

  • 4 · Accounts receivable

    beginning of year $5,409,418 · end of year $6,235,876

  • 7 · Other notes and loans receivable

    beginning of year $132,893 · end of year $65,453

  • 8 · Inventories for sale or use

    beginning of year $730,982 · end of year $985,804

  • 9 · Prepaid expenses and deferred charges

    beginning of year $236,500 · end of year $274,606

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

    $79,774,721

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

    $37,405,317

  • 10c · Land, buildings and equipment, net

    beginning of year $40,904,546 · end of year $42,369,404

  • 15 · Other assets

    beginning of year $5,592,637 · end of year $6,948,251

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,906,124 · end of year $2,373,409

  • 19 · Deferred revenue

    beginning of year $139,970 · end of year $70,610

  • 23 · Secured mortgages and notes payable

    beginning of year $17,691,000 · end of year $16,762,369

  • 25 · Other liabilities

    beginning of year $5,214,884 · end of year $3,395,729

  • 31 · Retained earnings, endowment or other funds

    beginning of year $33,564,890 · end of year $38,328,005

Mission and programs · 2022

Mission

SALE AND DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

  • OPERATIONS OF ELECTRIC DISTRIBUTION COOPERATIVE

    Expenses $10,638,474

  • OPERATIONS OF ELECTRIC DISTRIBUTION COOPERATIVE

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gerald Barnes

    PRESIDENT

    Total calculated
    $5,520
    From this org
    $5,520
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Darrin Caldwell

    MEMBER

    Total calculated
    $400
    From this org
    $400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jimmy Hughes

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Janie Cummings

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ricky Davis

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeff Holt

    VICE PRES

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brett Malone

    TREASURER

    Total calculated
    $5,340
    From this org
    $5,340
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Ratliff

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Colton Sims

    MEMBER

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Harold Turner

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John Castleberry

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • David Whitfield

    MEMBER

    Total calculated
    $400
    From this org
    $400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeff Butler

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Josh Clark

    MEMBER

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Erik McDonald

    MEMBER

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tim Wigginton CPA

    RETIRED CEO

    Total calculated
    $198,009
    From this org
    $198,009
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,009
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $198,009

  • Cody Durham

    CEO

    Total calculated
    $139,016
    From this org
    $139,016
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

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

None.

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.

Related corporations and trusts

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

  • TISHOMINGO CONNECT LLC

    BROADBAND · MS

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202411349349308096

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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