Skip to content
Nonprofiteer
← PONTOTOC ELECTRIC POWER ASSN

Form 990 for tax year 2023

Filed by PONTOTOC ELECTRIC POWER ASSN.

Totals

Total revenue
$14,299,984
Total expenses
$9,358,669
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$148,310
Other revenue
$14,151,674
Total assets, end of year
$96,896,747
Total liabilities, end of year
$13,520,968
Net assets or fund balances, end of year
$83,375,779
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.

  • 3 · Investment income

    total $148,310 · related or exempt $148,310

  • 6a · Gross rents

    real property $3,600

  • 6b · Less rental expenses

    real property $5,203

  • 6c · Rental income or loss

    real property -$1,603

  • 6d · Net rental income or loss

    total -$1,603 · related or exempt -$1,603

  • 10a · Gross sales of inventory

    $53,393,278

  • 10b · Cost of goods sold

    $41,114,449

  • 10c · Net income from sales of inventory

    total $12,278,829 · related or exempt $12,278,829

  • 11a · Other revenue: RENT - ELECTRIC PROPERTIES

    total $1,874,448 · related or exempt $1,874,448

  • 11e · Other revenue, total

    $1,874,448

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $510,418

  • 7 · Other salaries and wages

    total $1,572,894

  • 8 · Pension plan contributions

    total $1,425,870

  • 10 · Payroll taxes

    total $338,387

  • 20 · Interest

    total $4,600

  • 22 · Depreciation, depletion and amortization

    total $3,631,050

  • 23 · Insurance

    total $325,314

  • 24a · Other expenses: CUSTOMER RECORDS & COLLEC

    total $637,833

  • 24b · Other expenses: MISC GEN EXPENSE

    total $257,740

  • 24c · Other expenses: OFFICE SUPPLIES & EXP

    total $236,044

  • 24d · Other expenses: CUSTOMER SERVICE & INFO

    total $141,156

  • 24e · All other expenses

    total $277,363

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $585,733 · end of year $437,359

  • 2 · Savings and temporary cash investments

    beginning of year $2,036,610 · end of year $5,156,407

  • 4 · Accounts receivable

    beginning of year $5,375,646 · end of year $6,316,759

  • 7 · Other notes and loans receivable

    beginning of year $16,542 · end of year $2,349

  • 8 · Inventories for sale or use

    beginning of year $2,505,897 · end of year $2,232,395

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,998,712 · end of year $6,425,897

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

    $121,060,640

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

    $44,735,059

  • 10c · Land, buildings and equipment, net

    beginning of year $74,921,096 · end of year $76,325,581

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,573,297 · end of year $8,466,082

  • 19 · Deferred revenue

    beginning of year $421,321 · end of year $579,019

  • 25 · Other liabilities

    beginning of year $4,456,676 · end of year $4,475,867

  • 29 · Capital stock, trust principal or current funds

    beginning of year $938,171 · end of year $951,120

  • 31 · Retained earnings, endowment or other funds

    beginning of year $77,050,771 · end of year $82,424,659

Mission and programs · 2023

Mission

PROVISION OF ELECTRIC POWER TO RURAL CUSTOMERS.

  • PROVISION OF ELECTRICAL POWER TO 20,608 USERS AS OF JUNE 30, 2024

As filed on the 2023 return.

Listed in Part VII

  • Frankie Moorman

    GENERAL MGR

    Total calculated
    $268,297
    From this org
    $180,606
    From related orgs
    $0
    Other
    $87,691
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $180,606
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,786
    Nontaxable benefits
    $20,905
    Filer's total
    $268,297

  • Jeanna Sorto

    SECRETARY/AC

    Total calculated
    $212,079
    From this org
    $157,009
    From related orgs
    $0
    Other
    $55,070
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,009
    Bonus
    not reported
    Other
    not reported
    Deferred
    $46,463
    Nontaxable benefits
    $8,607
    Filer's total
    $212,079

  • James Elzie

    GENERAL FORE

    Total calculated
    $180,075
    From this org
    $113,513
    From related orgs
    $0
    Other
    $66,562
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,513
    Bonus
    not reported
    Other
    not reported
    Deferred
    $50,473
    Nontaxable benefits
    $16,089
    Filer's total
    $180,075

  • Benjamin Hogan

    BRUCE DISTRI

    Total calculated
    $139,308
    From this org
    $107,101
    From related orgs
    $0
    Other
    $32,207
    Hours/week
    40

  • John Cody Laster

    JOURNEYMAN L

    Total calculated
    $126,084
    From this org
    $101,485
    From related orgs
    $0
    Other
    $24,599
    Hours/week
    40

  • Robert Tedford

    DIRECTOR

    Total calculated
    $15,128
    From this org
    $15,128
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Randy Heard

    VICE PRESIDE

    Total calculated
    $14,578
    From this org
    $14,578
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jim Riddle Jr

    DIRECTOR

    Total calculated
    $14,559
    From this org
    $14,559
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeff Washington

    DIRECTOR

    Total calculated
    $14,559
    From this org
    $14,559
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Terry Chunn

    PRESIDENT

    Total calculated
    $14,500
    From this org
    $14,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David High

    DIRECTOR

    Total calculated
    $14,441
    From this org
    $14,441
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Bobby Duke

    DIRECTOR

    Total calculated
    $14,303
    From this org
    $14,303
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jackie Courson

    DIRECTOR

    Total calculated
    $14,211
    From this org
    $14,211
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Larry D Parker

    PRESIDENT

    Total calculated
    $7,002
    From this org
    $7,002
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dean Brummett

    DIRECTOR

    Total calculated
    $6,209
    From this org
    $6,209
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Thomas E Johnson Jr

    DIRECTOR

    Total calculated
    $0

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 · 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
14 November 2024
IRS schema version
2023v5.0
Source object
202443199349308694

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

The source document this was parsed from is served over the API, which is where bulk and document access live.