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← MIDDLE TENNESSEE ELECTRIC MEMBERSHI P CORPORATION

Form 990 for tax year 2024

Filed by MIDDLE TENNESSEE ELECTRIC MEMBERSHI P CORPORATION.

Totals

Total revenue
$991,192,614
Total expenses
$991,192,614
Contributions and grants received
$0
Grants paid
$331,963
Program service revenue
$977,795,129
Investment income
$2,681,756
Other revenue
$10,715,729
Total assets, end of year
$1,248,197,177
Total liabilities, end of year
$593,828,384
Net assets or fund balances, end of year
$654,368,793
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: Electric Revenues

    total $968,681,377 · related or exempt $968,681,377

  • 2b · Program service revenue: Miscellaneous Service

    total $4,887,305 · related or exempt $4,887,305

  • 2c · Program service revenue: Revenue from Late Paym

    total $4,161,884 · related or exempt $4,161,884

  • 2d · Program service revenue: Other Electric Revenue

    total $64,563 · related or exempt $64,563

  • 3 · Investment income

    total $2,861,996 · excluded $2,861,996

  • 6a · Gross rents

    real property $8,199,043

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $8,199,043

  • 6d · Net rental income or loss

    total $8,199,043 · excluded $8,199,043

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

    other assets $180,240

  • 7c · Gain or loss

    other assets -$180,240

  • 7d · Net gain or loss

    total -$180,240 · excluded -$180,240

  • 11a · Other revenue: Other income

    total $1,931,778 · related or exempt $1,931,778

  • 11b · Other revenue: Patronage Capital Cred

    total $584,908 · related or exempt $584,908

  • 11e · Other revenue, total

    $2,516,686

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $331,963

  • 4 · Benefits paid to or for members

    total $55,155,877

  • 5 · Compensation of officers, directors and key employees

    total $5,394,937

  • 20 · Interest

    total $11,695,892

  • 22 · Depreciation, depletion and amortization

    total $51,752,736

  • 24a · Other expenses: Cost of Power

    total $740,271,787

  • 24b · Other expenses: Dist Exp - Maintenance

    total $44,242,092

  • 24c · Other expenses: Dist Exp - Operations

    total $34,240,268

  • 24d · Other expenses: Customer Accounts Expen

    total $23,148,122

  • 24e · All other expenses

    total $24,958,940

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $35,576,801 · end of year $47,011,228

  • 2 · Savings and temporary cash investments

    beginning of year $200,000 · end of year $200,000

  • 4 · Accounts receivable

    beginning of year $61,633,691 · end of year $75,394,250

  • 7 · Other notes and loans receivable

    beginning of year $4,486,146 · end of year $4,810,437

  • 8 · Inventories for sale or use

    beginning of year $12,070,409 · end of year $12,678,508

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,755,373 · end of year $3,994,367

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

    $1,401,518,470

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

    $442,518,849

  • 10c · Land, buildings and equipment, net

    beginning of year $904,799,781 · end of year $958,999,621

  • 12 · Investments: other securities

    beginning of year $98,266,510 · end of year $116,272,698

  • 15 · Other assets

    beginning of year $27,328,865 · end of year $28,836,068

  • 17 · Accounts payable and accrued expenses

    beginning of year $111,826,961 · end of year $110,493,959

  • 23 · Secured mortgages and notes payable

    beginning of year $344,164,651 · end of year $387,370,363

  • 25 · Other liabilities

    beginning of year $92,446,702 · end of year $95,964,062

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $599,679,262 · end of year $654,368,793

Mission and programs · 2024

Mission

Middle Tennessee Electric Membership Corporation's mission is to provide affordable, reliable, safe electricity and outstanding member service.

  • Middle Tennessee Electric Membership Corporation distributes electricity to about 349,500 residential and commercial members located in Cannon, Rutherford, Williamson, and Wilson counties. This service area includes parts of Davidson, DeKalb, Marshall, Maury, Smith, and Trousdale counties as well.

As filed on the 2024 return.

Listed in Part VII

  • Ann Little

    Director

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • James E Mills

    Board Vice Chairman

    Total calculated
    $33,740
    From this org
    $33,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Ross Bradley

    Director

    Total calculated
    $34,740
    From this org
    $34,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Harold Gordon Bone Jr

    Director

    Total calculated
    $35,550
    From this org
    $35,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    13.5

  • Gloria O'Steen

    Director

    Total calculated
    $33,730
    From this org
    $33,730
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • David Lee

    Director

    Total calculated
    $35,710
    From this org
    $35,710
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Shervondalonn Brown

    Director

    Total calculated
    $17,850
    From this org
    $17,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Mike Woods

    Director

    Total calculated
    $54,330
    From this org
    $35,730
    From related orgs
    $18,600
    Other
    $0
    Hours/week
    14.5

  • Lynn Edwards

    Director

    Total calculated
    $14,450
    From this org
    $14,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Steve Seger

    Board Chairman

    Total calculated
    $66,940
    From this org
    $48,490
    From related orgs
    $18,450
    Other
    $0
    Hours/week
    18

  • Charles Bowman

    Director

    Total calculated
    $35,360
    From this org
    $35,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    13

  • Will Jordan

    Director

    Total calculated
    $50,970
    From this org
    $32,520
    From related orgs
    $18,450
    Other
    $0
    Hours/week
    18

  • Vanessa James Hickman

    Board Secretary/Treasurer

    Total calculated
    $34,330
    From this org
    $34,330
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Maureen Thornton

    Director

    Total calculated
    $24,250
    From this org
    $24,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.5

  • Chris Jones

    President/CEO

    Total calculated
    $1,373,754
    From this org
    $1,030,300
    From related orgs
    $0
    Other
    $343,454
    Hours/week
    58

    Schedule J breakdown matched by us

    Base
    $758,359
    Bonus
    $0
    Other
    $271,941
    Deferred
    $320,195
    Nontaxable benefits
    $23,259
    Filer's total
    $1,373,754

  • Cindy Layne

    CFO

    Total calculated
    $419,254
    From this org
    $319,623
    From related orgs
    $0
    Other
    $99,631
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $310,670
    Bonus
    $0
    Other
    $8,953
    Deferred
    $75,823
    Nontaxable benefits
    $23,808
    Filer's total
    $419,254

  • P D Mynatt

    Assistant General Manager

    Total calculated
    $358,601
    From this org
    $287,785
    From related orgs
    $0
    Other
    $70,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,751
    Bonus
    $0
    Other
    $26,034
    Deferred
    $62,479
    Nontaxable benefits
    $8,337
    Filer's total
    $358,601

  • Brad Gibson

    COO

    Total calculated
    $595,679
    From this org
    $440,712
    From related orgs
    $18,450
    Other
    $136,517
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $428,177 + $18,450 related
    Bonus
    $10,000
    Other
    $2,535
    Deferred
    $112,258
    Nontaxable benefits
    $24,259
    Filer's total
    $577,229 + $18,450 related

  • Robert White

    VP of Comm Rel & Mem Svcs

    Total calculated
    $374,691
    From this org
    $267,883
    From related orgs
    $0
    Other
    $106,808
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,759
    Bonus
    $0
    Other
    $8,124
    Deferred
    $84,101
    Nontaxable benefits
    $22,707
    Filer's total
    $374,691

  • Keith Thomason

    VP Engineering

    Total calculated
    $404,689
    From this org
    $236,848
    From related orgs
    $0
    Other
    $167,841
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $229,684
    Bonus
    $0
    Other
    $7,164
    Deferred
    $145,212
    Nontaxable benefits
    $22,629
    Filer's total
    $404,689

  • Gray Bateman

    CHRO

    Total calculated
    $488,982
    From this org
    $304,503
    From related orgs
    $0
    Other
    $184,479
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $296,105
    Bonus
    $0
    Other
    $8,398
    Deferred
    $160,574
    Nontaxable benefits
    $23,905
    Filer's total
    $488,982

  • Tuan Blank

    VP of Finance

    Total calculated
    $302,402
    From this org
    $249,998
    From related orgs
    $0
    Other
    $52,404
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $248,079
    Bonus
    $0
    Other
    $1,919
    Deferred
    $29,065
    Nontaxable benefits
    $23,339
    Filer's total
    $302,402

  • Dan Dement

    VP of Operations

    Total calculated
    $333,904
    From this org
    $245,308
    From related orgs
    $0
    Other
    $88,596
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $238,244
    Bonus
    $0
    Other
    $7,064
    Deferred
    $66,016
    Nontaxable benefits
    $22,580
    Filer's total
    $333,904

  • John Harris

    VP of IS and Tech

    Total calculated
    $339,881
    From this org
    $230,094
    From related orgs
    $0
    Other
    $109,787
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $224,863
    Bonus
    $0
    Other
    $5,231
    Deferred
    $87,541
    Nontaxable benefits
    $22,246
    Filer's total
    $339,881

  • Dan C Bonds

    Lineman

    Total calculated
    $295,487
    From this org
    $245,554
    From related orgs
    $0
    Other
    $49,933
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $243,875
    Bonus
    $0
    Other
    $1,679
    Deferred
    $25,755
    Nontaxable benefits
    $24,178
    Filer's total
    $295,487

  • Adam Fewell

    Working Foreman

    Total calculated
    $311,057
    From this org
    $233,049
    From related orgs
    $0
    Other
    $78,008
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $230,752
    Bonus
    $0
    Other
    $2,297
    Deferred
    $55,800
    Nontaxable benefits
    $22,208
    Filer's total
    $311,057

  • Lori Williams

    Special Proj Mgr

    Total calculated
    $452,275
    From this org
    $412,109
    From related orgs
    $0
    Other
    $40,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $410,222
    Bonus
    $0
    Other
    $1,887
    Deferred
    $28,782
    Nontaxable benefits
    $11,384
    Filer's total
    $452,275

  • Anthony Brown

    Asst Ops Supv

    Total calculated
    $315,428
    From this org
    $302,722
    From related orgs
    $0
    Other
    $12,706
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,251
    Bonus
    $0
    Other
    $2,471
    Deferred
    $1,454
    Nontaxable benefits
    $11,252
    Filer's total
    $315,428

  • Tim Mayo

    Ops Supv

    Total calculated
    $303,260
    From this org
    $290,327
    From related orgs
    $0
    Other
    $12,933
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $288,404
    Bonus
    $0
    Other
    $1,923
    Deferred
    $1,610
    Nontaxable benefits
    $11,323
    Filer's total
    $303,260

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 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

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.

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.

  • MTE Holdings LLC

    Holding company · TN · income $941,358 · assets $79,243,448

    Directly controlled by Middle Tennessee Electric Membership Corporation

Related corporations and trusts

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

  • United Communications Holdings LLC

    C · Telecommunications, Broadband, Ethernet, Wireless and Video Services · TN · 95.14% owned · share of income $73,486,581 · share of assets $198,550,117 · controlled entity

    Directly controlled by MTE Holdings LLC

  • MTRE LLC

    C · Solar Electricity · TN · 100% owned · share of income $122,726 · share of assets $138,983 · controlled entity

    Directly controlled by Middle Tennessee Electric Membership Corporation

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523219349304722

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