Skip to content
Nonprofiteer
← SOUTHWEST MISSISSIPPI ELECTRIC

Form 990 for tax year 2023

Filed by SOUTHWEST MISSISSIPPI ELECTRIC.

Totals

Total revenue
$63,057,088
Total expenses
$63,057,088
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$61,565,624
Investment income
$208,013
Other revenue
$1,283,451
Total assets, end of year
$137,193,681
Total liabilities, end of year
$67,629,411
Net assets or fund balances, end of year
$69,564,270
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: OPERATING REVENUES-MEMBER

    total $60,879,067 · related or exempt $60,879,067

  • 2b · Program service revenue: QUALIFIED POLE RENTAL INCOME

    total $686,557 · excluded $686,557

  • 3 · Investment income

    total $208,013 · excluded $208,013

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $1,268,656 · related or exempt $1,268,656

  • 11b · Other revenue: OTHER MEMBER INCOME

    total $14,795 · related or exempt $14,795

  • 11e · Other revenue, total

    $1,283,451

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,071,595

  • 5 · Compensation of officers, directors and key employees

    total $593,481

  • 11b · Fees: legal

    total $114,920

  • 11c · Fees: accounting

    total $29,437

  • 11g · Fees: other

    total $18,997

  • 12 · Advertising and promotion

    total $196,192

  • 14 · Information technology

    total $17,194

  • 17 · Travel

    total $78,507

  • 20 · Interest

    total $2,291,925

  • 22 · Depreciation, depletion and amortization

    total $3,800,985

  • 24a · Other expenses: COST OF POWER

    total $38,521,663

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $8,285,870

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $2,710,704

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $1,810,910

  • 24e · All other expenses

    total $1,514,708

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,340,297 · end of year $1,707,860

  • 2 · Savings and temporary cash investments

    end of year $4,600,000

  • 4 · Accounts receivable

    beginning of year $3,290,814 · end of year $3,670,866

  • 8 · Inventories for sale or use

    beginning of year $1,204,289 · end of year $2,028,683

  • 9 · Prepaid expenses and deferred charges

    beginning of year $306,194 · end of year $353,917

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

    $134,926,036

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

    $39,875,847

  • 10c · Land, buildings and equipment, net

    beginning of year $92,593,613 · end of year $95,050,189

  • 15 · Other assets

    beginning of year $30,373,383 · end of year $29,782,166

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,909,755 · end of year $8,924,585

  • 19 · Deferred revenue

    end of year $1,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $53,375,013 · end of year $56,410,154

  • 25 · Other liabilities

    beginning of year $1,431,508 · end of year $1,294,672

  • 29 · Capital stock, trust principal or current funds

    beginning of year $101,450 · end of year $100,645

  • 31 · Retained earnings, endowment or other funds

    beginning of year $67,290,864 · end of year $69,463,625

Mission and programs · 2023

Mission

MEMBER OWNED ELECTRIC COOPERATIVE.

  • DISTRIBUTION OF ELECTRIC POWER TO MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Kevin Bonds

    GENERAL MANA

    Total calculated
    $367,694
    From this org
    $294,695
    From related orgs
    $0
    Other
    $72,999
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,695
    Bonus
    not reported
    Other
    not reported
    Deferred
    $48,957
    Nontaxable benefits
    $24,042
    Filer's total
    $367,694

  • William Newell

    CREW LEADER

    Total calculated
    $203,135
    From this org
    $165,294
    From related orgs
    $0
    Other
    $37,841
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,294
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,668
    Nontaxable benefits
    $22,173
    Filer's total
    $203,135

  • Darryl Hassell

    MGR OF ENGIN

    Total calculated
    $185,251
    From this org
    $143,070
    From related orgs
    $0
    Other
    $42,181
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,070
    Bonus
    not reported
    Other
    not reported
    Deferred
    $24,032
    Nontaxable benefits
    $18,149
    Filer's total
    $185,251

  • Ernie Orcutt

    SERVICEMAN

    Total calculated
    $184,079
    From this org
    $155,430
    From related orgs
    $0
    Other
    $28,649
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,430
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,168
    Nontaxable benefits
    $14,481
    Filer's total
    $184,079

  • Kevin Cotten

    MGR. OF OPER

    Total calculated
    $175,963
    From this org
    $130,775
    From related orgs
    $0
    Other
    $45,188
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,775
    Bonus
    not reported
    Other
    not reported
    Deferred
    $22,374
    Nontaxable benefits
    $22,814
    Filer's total
    $175,963

  • Kevin Britt

    SERVICEMAN

    Total calculated
    $152,013
    From this org
    $114,714
    From related orgs
    $0
    Other
    $37,299
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,714
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,716
    Nontaxable benefits
    $22,583
    Filer's total
    $152,013

  • Virgil Scott

    CFO

    Total calculated
    $151,615
    From this org
    $122,321
    From related orgs
    $0
    Other
    $29,294
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,321
    Bonus
    not reported
    Other
    not reported
    Deferred
    $20,591
    Nontaxable benefits
    $8,703
    Filer's total
    $151,615

  • Stanley Rucker

    PRESIDENT

    Total calculated
    $11,985
    From this org
    $11,700
    From related orgs
    $0
    Other
    $285
    Hours/week
    6

  • Diane Davual

    DIRECTOR

    Total calculated
    $9,935
    From this org
    $9,600
    From related orgs
    $0
    Other
    $335
    Hours/week
    5

  • Randy Wooley

    VICE PRESIDE

    Total calculated
    $7,835
    From this org
    $7,500
    From related orgs
    $0
    Other
    $335
    Hours/week
    3.75

  • Betsy Mosby

    SECRETARY

    Total calculated
    $7,235
    From this org
    $6,900
    From related orgs
    $0
    Other
    $335
    Hours/week
    3.5

  • Robert Jones

    DIRECTOR

    Total calculated
    $6,935
    From this org
    $6,600
    From related orgs
    $0
    Other
    $335
    Hours/week
    3.25

  • James A Ventress

    DIRECTOR

    Total calculated
    $6,750
    From this org
    $6,600
    From related orgs
    $0
    Other
    $150
    Hours/week
    3.25

  • Paul Arnold- Began 323

    DIRECTOR

    Total calculated
    $6,279
    From this org
    $6,000
    From related orgs
    $0
    Other
    $279
    Hours/week
    3.5

  • John Brady

    ASSIST SECRE

    Total calculated
    $6,135
    From this org
    $5,800
    From related orgs
    $0
    Other
    $335
    Hours/week
    3

  • Edward Edwards

    DIRECTOR

    Total calculated
    $5,835
    From this org
    $5,500
    From related orgs
    $0
    Other
    $335
    Hours/week
    2.75

  • John Hilbert-Resigned 823

    DIRECTOR

    Total calculated
    $4,223
    From this org
    $4,000
    From related orgs
    $0
    Other
    $223
    Hours/week
    3

  • James P Mullins-Resigned 223

    DIRECTOR

    Total calculated
    $1,025
    From this org
    $1,000
    From related orgs
    $0
    Other
    $25
    Hours/week
    3

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.

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.

  • SOUTHWEST FIBER LLC

    MS

Provenance

Return type
form_990
Tax year
2023
Filed
21 March 2024
IRS schema version
2023v5.0
Source object
202410939349300616

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.