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Nonprofiteer
← DIVERSE POWER INCORPORATED

Form 990 for tax year 2024

Filed by DIVERSE POWER INCORPORATED.

Totals

Total revenue
$119,841,216
Total expenses
$119,841,216
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$119,515,114
Investment income
$218,696
Other revenue
$107,406
Total assets, end of year
$270,798,742
Total liabilities, end of year
$177,319,407
Net assets or fund balances, end of year
$93,479,335
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$119,841,216

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 $114,864,063 · related or exempt $114,864,063

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $2,769,944 · related or exempt $2,769,944

  • 2c · Program service revenue: POLE RENTAL

    total $1,881,107 · excluded $1,881,107

  • 3 · Investment income

    total $218,696 · excluded $218,696

  • 11a · Other revenue: GAIN ON DISPOSITION OF PROPER

    total $107,406 · related or exempt $107,406

  • 11e · Other revenue, total

    $107,406

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $8,435,645

  • 5 · Compensation of officers, directors and key employees

    total $812,930

  • 6 · Compensation of disqualified persons

    total $48,000

  • 20 · Interest

    total $6,963,826

  • 22 · Depreciation, depletion and amortization

    total $9,732,081

  • 24a · Other expenses: PURCHASED POWER

    total $72,507,830

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $9,565,543

  • 24c · Other expenses: ADMIN. & GENERAL EXP.

    total $3,358,252

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $2,732,236

  • 24e · All other expenses

    total $5,684,873

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,648,490 · end of year $6,115,707

  • 4 · Accounts receivable

    beginning of year $14,683,945 · end of year $13,263,977

  • 8 · Inventories for sale or use

    beginning of year $5,714,188 · end of year $5,829,729

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,137,374 · end of year $1,582,978

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

    $332,836,300

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

    $115,432,690

  • 10c · Land, buildings and equipment, net

    beginning of year $204,971,487 · end of year $217,403,610

  • 12 · Investments: other securities

    beginning of year $1,100,000 · end of year $2,100,000

  • 13 · Investments: program-related

    beginning of year $21,739,018 · end of year $22,755,357

  • 15 · Other assets

    beginning of year $1,502,883 · end of year $1,747,384

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,784,785 · end of year $11,396,271

  • 23 · Secured mortgages and notes payable

    beginning of year $145,636,521 · end of year $153,585,621

  • 25 · Other liabilities

    beginning of year $11,551,206 · end of year $12,337,515

  • 29 · Capital stock, trust principal or current funds

    beginning of year $146,457 · end of year $149,232

  • 31 · Retained earnings, endowment or other funds

    beginning of year $85,378,416 · end of year $93,330,103

Mission and programs · 2024

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 OF SERVICE.

  • 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 OF SERVICE.

    Expenses $119,841,216

As filed on the 2024 return.

Listed in Part VII

  • William Couch

    CHAIRMAN

    Total calculated
    $30,800
    From this org
    $30,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Kim Curry

    VICE CHAIRMA

    Total calculated
    $29,200
    From this org
    $29,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • David Murphy

    SECRETARY

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Charles Knight

    DIRECTOR

    Total calculated
    $28,400
    From this org
    $28,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jimmy G Bailey

    DIRECTOR

    Total calculated
    $28,200
    From this org
    $28,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Harrell Landreth

    DIRECTOR

    Total calculated
    $28,700
    From this org
    $28,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Brad Morgan

    DIRECTOR

    Total calculated
    $26,200
    From this org
    $26,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mack Reynolds Jr

    DIRECTOR

    Total calculated
    $15,800
    From this org
    $15,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Richard Williams

    DIRECTOR

    Total calculated
    $27,800
    From this org
    $27,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Larry Keith

    DIRECTOR EME

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $12,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,000

  • Roy Tollerson Jr

    DIRECTOR EME

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $12,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,000

  • Larry Williamson

    DIRECTOR EME

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $12,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,000

  • Cheryl Meadows

    DIRECTOR EME

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $12,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,000

  • R Wayne Livingston

    PRESIDENT/CE

    Total calculated
    $567,330
    From this org
    $504,946
    From related orgs
    $0
    Other
    $62,384
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $452,986
    Bonus
    $4,825
    Other
    $47,135
    Deferred
    $41,400
    Nontaxable benefits
    $20,984
    Filer's total
    $567,330

  • Randy Shepard

    SVP-CBO

    Total calculated
    $389,588
    From this org
    $320,235
    From related orgs
    $0
    Other
    $69,353
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $302,611
    Bonus
    $3,283
    Other
    $14,341
    Deferred
    $39,069
    Nontaxable benefits
    $30,284
    Filer's total
    $389,588

  • Andrew Kilgore

    SVP-CFO

    Total calculated
    $326,261
    From this org
    $250,317
    From related orgs
    $0
    Other
    $75,944
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $238,048
    Bonus
    $2,730
    Other
    $9,539
    Deferred
    $46,360
    Nontaxable benefits
    $29,584
    Filer's total
    $326,261

  • Jamin Blair

    SVP-CENGO

    Total calculated
    $315,507
    From this org
    $240,960
    From related orgs
    $0
    Other
    $74,547
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $228,659
    Bonus
    $2,735
    Other
    $9,566
    Deferred
    $44,063
    Nontaxable benefits
    $30,484
    Filer's total
    $315,507

  • Kirk King

    VP-CONSTRUCT

    Total calculated
    $242,203
    From this org
    $184,554
    From related orgs
    $0
    Other
    $57,649
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $175,209
    Bonus
    $2,294
    Other
    $7,051
    Deferred
    $23,039
    Nontaxable benefits
    $34,610
    Filer's total
    $242,203

  • Steve Tittle

    VP-IT

    Total calculated
    $260,135
    From this org
    $193,055
    From related orgs
    $0
    Other
    $67,080
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $183,662
    Bonus
    $2,320
    Other
    $7,073
    Deferred
    $36,596
    Nontaxable benefits
    $30,484
    Filer's total
    $260,135

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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.

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.

Related corporations and trusts

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

  • KUDZU NETWORKS INC

    C CORP · COMMUNICAT · GA · 100% owned · share of income -$739,278 · share of assets $3,553,603 · controlled entity

    Directly controlled by DIV POWER

Provenance

Return type
form_990
Tax year
2024
Filed
28 April 2025
IRS schema version
2024v5.0
Source object
202531199349301623

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