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Nonprofiteer
← MITCHELL ELECTRIC MEMBERSHIP

Form 990 for tax year 2022

Filed by MITCHELL ELECTRIC MEMBERSHIP.

Totals

Total revenue
$71,421,657
Total expenses
$71,421,657
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$71,441,581
Investment income
$44,609
Other revenue
-$64,533
Total assets, end of year
$197,699,427
Total liabilities, end of year
$103,901,592
Net assets or fund balances, end of year
$93,797,835
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: ELECTRIC REVENUE

    total $68,764,396 · related or exempt $68,764,396

  • 2b · Program service revenue: G & T CAPITAL CREDITS

    total $1,116,901 · related or exempt $1,116,901

  • 2c · Program service revenue: POLE RENTAL

    total $928,366 · excluded $928,366

  • 2d · Program service revenue: OTHER CAPITAL CREDITS

    total $631,918 · related or exempt $631,918

  • 3 · Investment income

    total $44,609 · excluded $44,609

  • 11a · Other revenue: UNREALIZED GAIN OR LOSS

    total -$64,533 · related or exempt -$64,533

  • 11e · Other revenue, total

    -$64,533

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,171,412

  • 5 · Compensation of officers, directors and key employees

    total $647,754

  • 13 · Office expenses

    total $979,692

  • 20 · Interest

    total $2,923,787

  • 22 · Depreciation, depletion and amortization

    total $5,001,400

  • 24a · Other expenses: PURCHASED POWER

    total $39,966,845

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $6,459,346

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $3,984,343

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $2,670,272

  • 24e · All other expenses

    total $4,616,806

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,755,212 · end of year $2,626,237

  • 4 · Accounts receivable

    beginning of year $5,786,141 · end of year $7,165,287

  • 8 · Inventories for sale or use

    beginning of year $2,394,530 · end of year $4,447,174

  • 9 · Prepaid expenses and deferred charges

    beginning of year $156,254 · end of year $200,415

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

    $193,375,419

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

    $42,446,838

  • 10c · Land, buildings and equipment, net

    beginning of year $146,056,758 · end of year $150,928,581

  • 13 · Investments: program-related

    beginning of year $30,418,906 · end of year $31,955,932

  • 15 · Other assets

    beginning of year $382,033 · end of year $375,801

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,310,746 · end of year $9,727,841

  • 23 · Secured mortgages and notes payable

    beginning of year $66,862,886 · end of year $73,037,463

  • 25 · Other liabilities

    beginning of year $21,369,373 · end of year $21,136,288

  • 31 · Retained earnings, endowment or other funds

    beginning of year $90,406,829 · end of year $93,797,835

Mission and programs · 2022

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OR SERVICE.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • W Lucius Adkins Jr

    CHAIRMAN

    Total calculated
    $22,700
    From this org
    $22,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.75

  • John B Johnson Sr

    VICE CHAIRMA

    Total calculated
    $22,495
    From this org
    $22,495
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Doyle M Medders

    SEC-TREAS

    Total calculated
    $22,744
    From this org
    $22,744
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • T Ralph Davis Jr

    DIRECTOR

    Total calculated
    $24,264
    From this org
    $24,264
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Max R Lewis Jr

    DIRECTOR

    Total calculated
    $22,837
    From this org
    $22,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.5

  • Billy Senkbeil

    DIRECTOR

    Total calculated
    $26,264
    From this org
    $26,264
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Johnny Cochran

    DIRECTOR

    Total calculated
    $22,837
    From this org
    $22,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Joseph E Rackley IV

    DIRECTOR

    Total calculated
    $22,837
    From this org
    $22,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Larry Glow

    DIRECTOR

    Total calculated
    $22,837
    From this org
    $22,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Tony F Tucker

    PRESIDENT &

    Total calculated
    $437,939
    From this org
    $272,995
    From related orgs
    $0
    Other
    $164,944
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $251,300
    Bonus
    $3,072
    Other
    $18,623
    Deferred
    $122,035
    Nontaxable benefits
    $42,909
    Filer's total
    $437,939

  • Sarah E Worthy

    VP FIN & ACC

    Total calculated
    $263,042
    From this org
    $183,486
    From related orgs
    $0
    Other
    $79,556
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,907
    Bonus
    $3,044
    Other
    $7,535
    Deferred
    $65,081
    Nontaxable benefits
    $14,475
    Filer's total
    $263,042

  • Brian R Baggett

    CONSTRUCTION

    Total calculated
    $218,196
    From this org
    $159,660
    From related orgs
    $0
    Other
    $58,536
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,969
    Bonus
    $3,249
    Other
    $4,442
    Deferred
    $31,918
    Nontaxable benefits
    $26,618
    Filer's total
    $218,196

  • Derek J Jennings

    VP OF TECH S

    Total calculated
    $242,494
    From this org
    $167,760
    From related orgs
    $0
    Other
    $74,734
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,262
    Bonus
    $3,249
    Other
    $7,249
    Deferred
    $38,486
    Nontaxable benefits
    $36,248
    Filer's total
    $242,494

  • James Clifton

    VP OF ENGINE

    Total calculated
    $239,227
    From this org
    $166,750
    From related orgs
    $0
    Other
    $72,477
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,351
    Bonus
    $3,249
    Other
    $7,150
    Deferred
    $42,886
    Nontaxable benefits
    $29,591
    Filer's total
    $239,227

  • Charles Gilbert

    VP OF CORPOR

    Total calculated
    $240,235
    From this org
    $160,389
    From related orgs
    $0
    Other
    $79,846
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,815
    Bonus
    $3,249
    Other
    $18,325
    Deferred
    $62,653
    Nontaxable benefits
    $17,193
    Filer's total
    $240,235

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 · Form 990 of other organizations
  • 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
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202313039349300751

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