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Nonprofiteer
← GIBSON ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by GIBSON ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$125,473,192
Total expenses
$118,370,561
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$124,370,565
Investment income
$315,742
Other revenue
$786,885
Total assets, end of year
$271,901,560
Total liabilities, end of year
$137,912,030
Net assets or fund balances, end of year
$133,989,530
Program services expenses (Part IX)
$112,330,921
Management and general expenses
$6,039,640
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 94.9% 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: Program Service Revenue

    total $124,370,565 · related or exempt $124,370,565

  • 3 · Investment income

    total $315,742 · related or exempt $315,742

  • 11a · Other revenue: Other Revenue

    total $786,885 · related or exempt $786,885

  • 11e · Other revenue, total

    $786,885

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $9,276,840 · program services $1,618,600 · management and general $7,658,240

  • 20 · Interest

    total $3,197,485 · program services $3,197,485

  • 22 · Depreciation, depletion and amortization

    total $12,135,054 · program services $12,135,054

  • 24a · Other expenses: Purchased Power

    total $75,927,696 · program services $75,927,696

  • 24b · Other expenses: Maintenance

    total $10,095,343 · program services $10,095,343

  • 24c · Other expenses: Transmission and Dist

    total $4,963,808 · program services $4,963,808

  • 24d · Other expenses: Customer Accounts

    total $4,412,619 · program services $4,412,619

  • 24e · All other expenses

    total -$1,638,284 · program services -$19,684 · management and general -$1,618,600

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $867,759 · end of year $986,790

  • 2 · Savings and temporary cash investments

    beginning of year $2,087,684 · end of year $3,083,198

  • 4 · Accounts receivable

    beginning of year $9,373,059 · end of year $12,323,339

  • 8 · Inventories for sale or use

    beginning of year $6,682,721 · end of year $5,666,220

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,088,030 · end of year $3,111,569

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

    $357,941,320

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

    $114,528,545

  • 10c · Land, buildings and equipment, net

    beginning of year $221,675,056 · end of year $243,412,775

  • 15 · Other assets

    beginning of year $3,511,663 · end of year $3,317,669

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,159,579 · end of year $22,745,155

  • 23 · Secured mortgages and notes payable

    beginning of year $92,653,661 · end of year $109,298,902

  • 25 · Other liabilities

    beginning of year $5,587,514 · end of year $5,867,973

  • 29 · Capital stock, trust principal or current funds

    beginning of year $258,960 · end of year $260,641

  • 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 $126,626,258 · end of year $133,728,889

Mission and programs · 2024

Mission

Gibson EMC is an electric cooperative owned by its members. Gibson EMC, and its wholly-owned subsidiary Gibson Connect, supply energy and fiber services throughout a 12-county service area in northwest Tennessee and southwest Kentucky.

Activities or mission (Part I)

Gibson EMC is an electric cooperative owned by its members. Gibson EMC, and its wholly-owned subsidiary Gibson Connect, supply energy and fiber services throughout a 12-county service area in the northwest Tennessee and southwest Kentucky

  • Gibson EMC has 3,567 miles of electric line and 39,385 meters in Crockett, Dyer, Gibson, Haywood, Lake, Lauderdale, Madison, and Obion Counties in Tennessee and Carlisle, Fulton, Graves and Hickman counties in Kentucky. Gibson Connect, Gibson EMC's wholly-owned subsidiary, provides fiber services to various accounts throughout Gibson EMC's service area with 3,562 miles of fiber lines and 20,009 customers. The Corporate office is located in Trenton, Tennessee with member service centers in Alamo, Tiptonville, Trenton, Medina, and Troy, Tennessee and Clinton, Kentucky.

  • N/A

  • N/A

As filed on the 2024 return.

Listed in Part VII

  • Steve Sanders

    Chairman

    Total calculated
    $10,200
    From this org
    $10,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Keith Heglar

    Vice Chairman

    Total calculated
    $5,600
    From this org
    $5,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bob McCurdy

    Asst. Sec.

    Total calculated
    $7,300
    From this org
    $2,900
    From related orgs
    $0
    Other
    $4,400
    Hours/week
    4

  • Tony Bargery

    Trustee

    Total calculated
    $8,800
    From this org
    $8,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jim Turner

    Trustee

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Wray Pulliam

    Trustee

    Total calculated
    $10,600
    From this org
    $10,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Joan Mouser

    Trustee

    Total calculated
    $11,200
    From this org
    $11,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Eric Dupree

    Trustee

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Rana Buchanan

    Trustee

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Keith Forrester

    Trustee

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bruce Kimbell

    Trustee

    Total calculated
    $6,600
    From this org
    $100
    From related orgs
    $0
    Other
    $6,500
    Hours/week
    3

  • Brian McDaniel

    Trustee

    Total calculated
    $10,200
    From this org
    $10,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Dan Rodamaker

    Pres. & CEO

    Total calculated
    $687,312
    From this org
    $550,310
    From related orgs
    $0
    Other
    $137,002
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $388,821
    Bonus
    $3,621
    Other
    $157,868
    Deferred
    $95,749
    Nontaxable benefits
    $41,253
    Filer's total
    $687,312

  • Barry Smith

    VP of Operations

    Total calculated
    $429,990
    From this org
    $289,903
    From related orgs
    $0
    Other
    $140,087
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $201,568
    Bonus
    $67,645
    Other
    $20,690
    Deferred
    $96,963
    Nontaxable benefits
    $43,124
    Filer's total
    $429,990

  • Charles Phillips

    VP of Technical Srvc

    Total calculated
    $421,069
    From this org
    $293,049
    From related orgs
    $0
    Other
    $128,020
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $199,643
    Bonus
    $75,020
    Other
    $18,386
    Deferred
    $91,691
    Nontaxable benefits
    $36,329
    Filer's total
    $421,069

  • Rita Alexander

    VP of HR/Member Services

    Total calculated
    $272,261
    From this org
    $185,193
    From related orgs
    $0
    Other
    $87,068
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,542
    Bonus
    $7,102
    Other
    $14,549
    Deferred
    $44,520
    Nontaxable benefits
    $42,548
    Filer's total
    $272,261

  • Richard BeDen

    CFO

    Total calculated
    $264,169
    From this org
    $178,545
    From related orgs
    $0
    Other
    $85,624
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $157,591
    Bonus
    $6,460
    Other
    $14,494
    Deferred
    $44,913
    Nontaxable benefits
    $40,711
    Filer's total
    $264,169

  • Randy Dotson

    Engineer

    Total calculated
    $224,185
    From this org
    $151,552
    From related orgs
    $0
    Other
    $72,633
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $140,489
    Bonus
    $3,186
    Other
    $7,877
    Deferred
    $46,050
    Nontaxable benefits
    $26,583
    Filer's total
    $224,185

  • Bret Taylor

    Crewleader

    Total calculated
    $168,126
    From this org
    $124,857
    From related orgs
    $0
    Other
    $43,269
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $124,068
    Bonus
    $522
    Other
    $267
    Deferred
    $10,707
    Nontaxable benefits
    $32,562
    Filer's total
    $168,126

  • Daniel Goode

    Operations

    Total calculated
    $201,190
    From this org
    $129,513
    From related orgs
    $0
    Other
    $71,677
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $125,828
    Bonus
    $2,380
    Other
    $1,305
    Deferred
    $37,199
    Nontaxable benefits
    $34,478
    Filer's total
    $201,190

  • Jeff Milam

    Crewleader

    Total calculated
    $182,071
    From this org
    $125,528
    From related orgs
    $0
    Other
    $56,543
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $124,310
    Bonus
    $522
    Other
    $696
    Deferred
    $24,634
    Nontaxable benefits
    $31,909
    Filer's total
    $182,071

  • Kendall Byassee

    Crewleader

    Total calculated
    $186,145
    From this org
    $127,235
    From related orgs
    $0
    Other
    $58,910
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $126,021
    Bonus
    $522
    Other
    $692
    Deferred
    $23,721
    Nontaxable benefits
    $35,189
    Filer's total
    $186,145

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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

The filer's explanations (Part III)

Form 990, Part II, Lines 1-10, Column C
Column C represents the estimated actuarial change in the vested retirement benefits which ARE NOT CASH CONTRIBUTIONS MADE BY THE COOPERATIVE.

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.

  • Gibson Connect CO Gibson Connect

    Internet · TN · income $13,598,853 · assets $20,730,673

    Directly controlled by Gibson Ele

Provenance

Return type
form_990
Tax year
2024
Filed
6 October 2025
IRS schema version
2024v5.2
Source object
202502829349300300

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