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Nonprofiteer
← MERIWETHER LEWIS ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by MERIWETHER LEWIS ELECTRIC COOPERATIVE.

Totals

Total revenue
$132,689,305
Total expenses
$128,647,989
Contributions and grants received
$543,163
Grants paid
$0
Program service revenue
$131,913,117
Investment income
$233,025
Other revenue
$0
Total assets, end of year
$191,483,163
Total liabilities, end of year
$116,520,806
Net assets or fund balances, end of year
$74,962,357
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.

  • 1e · Government grants (contributions)

    $543,163

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $120,010,725 · related or exempt $120,010,725

  • 2b · Program service revenue: SERVICE REVENUE - ML CONNECT

    total $9,651,394 · related or exempt $9,651,394

  • 2c · Program service revenue: POLE RENTALS

    total $2,166,388 · excluded $2,166,388

  • 2d · Program service revenue: FIBER LEASE

    total $84,610 · excluded $84,610

  • 3 · Investment income

    total $233,025 · excluded $233,025

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,972,041

  • 11b · Fees: legal

    total $31,821

  • 11c · Fees: accounting

    total $29,050

  • 11g · Fees: other

    total $49,381

  • 12 · Advertising and promotion

    total $90,468

  • 13 · Office expenses

    total $71,946

  • 16 · Occupancy

    total $452,458

  • 19 · Conferences, conventions and meetings

    total $75,356

  • 20 · Interest

    total $2,257,614

  • 22 · Depreciation, depletion and amortization

    total $9,912,843

  • 23 · Insurance

    total $107,418

  • 24a · Other expenses: COST OF POWER PURCHASED

    total $89,850,019

  • 24b · Other expenses: DISTRIBUTION EXPENSE - MA

    total $7,855,925

  • 24c · Other expenses: OPERATING EXP. - ML CONNE

    total $7,400,375

  • 24d · Other expenses: DISTRIBUTION EXPENSE - OP

    total $2,286,572

  • 24e · All other expenses

    total $6,204,702

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $838,921 · end of year $1,204,784

  • 2 · Savings and temporary cash investments

    beginning of year $402,269 · end of year $428,764

  • 4 · Accounts receivable

    beginning of year $7,605,673 · end of year $10,789,672

  • 7 · Other notes and loans receivable

    beginning of year $2,551,916 · end of year $2,573,484

  • 8 · Inventories for sale or use

    beginning of year $1,119,251 · end of year $1,778,735

  • 9 · Prepaid expenses and deferred charges

    beginning of year $54,458 · end of year $122,765

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

    $268,868,439

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

    $99,482,721

  • 10c · Land, buildings and equipment, net

    beginning of year $161,713,818 · end of year $169,385,718

  • 12 · Investments: other securities

    beginning of year $1,300,414 · end of year $1,312,790

  • 15 · Other assets

    beginning of year $3,899,531 · end of year $3,886,451

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,979,047 · end of year $27,587,563

  • 23 · Secured mortgages and notes payable

    beginning of year $72,999,190 · end of year $81,447,746

  • 25 · Other liabilities

    beginning of year $7,078,096 · end of year $7,485,497

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $144,535 · end of year $147,370

  • 31 · Retained earnings, endowment or other funds

    beginning of year $71,285,383 · end of year $74,814,987

Mission and programs · 2022

Mission

NONE

Activities or mission (Part I)

RURAL ELECTRICITY DISTRIBUTION AND BROADBAND INTERNET AND COMMUNICATION SERVICES.

  • RURAL ELECTRICITY DISTRIBUTION TO 35,973 MEMBERS LOCATED IN HICKMAN, HOUSTON, HUMPHREYS, LEWIS, AND PERRY COUNTIES IN MIDDLE TENNESSEE.

  • PROVISION OF BROADBAND INTERNET AND COMMUNICATION SERVICES VIA A FIBER OPTIC NETWORK TO RURAL HOMES AND BUSINESSES IN THE COOPERATIVE'S SERVICE AREA. THE ORGANIZATION HAS CONNECTED 14,142 CUSTOMERS AS OF 6/30/2023.

As filed on the 2022 return.

Listed in Part VII

  • Johnnie Ruth Elrod

    DIRECTOR

    Total calculated
    $28,672
    From this org
    $28,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.2

  • David Wayne Qualls

    DIRECTOR

    Total calculated
    $29,444
    From this org
    $29,444
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.39

  • Bill Webb

    DIRECTOR

    Total calculated
    $29,808
    From this org
    $29,359
    From related orgs
    $0
    Other
    $449
    Hours/week
    2.63

  • Jeffrey D Peery DDS

    DIRECTOR

    Total calculated
    $29,722
    From this org
    $29,722
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.94

  • Jessie Wallace

    DIRECTOR

    Total calculated
    $27,472
    From this org
    $27,472
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.67

  • David Daniel

    BOARD CHAIR

    Total calculated
    $28,531
    From this org
    $28,531
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.07

  • Larry D Mayberry

    DIRECTOR

    Total calculated
    $28,179
    From this org
    $26,948
    From related orgs
    $0
    Other
    $1,231
    Hours/week
    1.49

  • Cass Rye

    DIRECTOR

    Total calculated
    $26,403
    From this org
    $26,403
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.61

  • Zachary Hutchens

    DIRECTOR

    Total calculated
    $28,259
    From this org
    $24,322
    From related orgs
    $0
    Other
    $3,937
    Hours/week
    1.63

  • Andrew Porch

    DIRECTOR

    Total calculated
    $29,159
    From this org
    $24,322
    From related orgs
    $0
    Other
    $4,837
    Hours/week
    2.01

  • Raymond H Fussell

    DIRECTOR

    Total calculated
    $27,842
    From this org
    $24,247
    From related orgs
    $0
    Other
    $3,595
    Hours/week
    1.94

  • Tommy Graham

    VICE CHAIR

    Total calculated
    $29,729
    From this org
    $24,213
    From related orgs
    $0
    Other
    $5,516
    Hours/week
    1.26

  • Ronald Averett

    DIRECTOR

    Total calculated
    $5,154
    From this org
    $5,154
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.75

  • Keith Carnahan

    PRESIDENT AN

    Total calculated
    $375,089
    From this org
    $290,402
    From related orgs
    $0
    Other
    $84,687
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $241,514
    Bonus
    $1,600
    Other
    $47,288
    Deferred
    $57,708
    Nontaxable benefits
    $26,979
    Filer's total
    $375,089

  • Ken Little

    VP-EMERG. TE

    Total calculated
    $275,397
    From this org
    $162,127
    From related orgs
    $0
    Other
    $113,270
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $151,312
    Bonus
    $1,600
    Other
    $9,215
    Deferred
    $85,917
    Nontaxable benefits
    $27,353
    Filer's total
    $275,397

  • Shane McCrory

    VP-INFO TECH

    Total calculated
    $272,036
    From this org
    $164,580
    From related orgs
    $0
    Other
    $107,456
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $142,459
    Bonus
    $1,600
    Other
    $20,521
    Deferred
    $80,895
    Nontaxable benefits
    $26,561
    Filer's total
    $272,036

  • Miranda McCaleb

    VP-EMPLOYEE/

    Total calculated
    $293,343
    From this org
    $162,715
    From related orgs
    $0
    Other
    $130,628
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,134
    Bonus
    $1,600
    Other
    $15,981
    Deferred
    $101,244
    Nontaxable benefits
    $29,384
    Filer's total
    $293,343

  • Edward W Greenwell

    VP-OPER. & E

    Total calculated
    $209,703
    From this org
    $146,153
    From related orgs
    $0
    Other
    $63,550
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,230
    Bonus
    $1,500
    Other
    $2,423
    Deferred
    $36,977
    Nontaxable benefits
    $26,573
    Filer's total
    $209,703

  • Blake Harper

    VP - ADMIN S

    Total calculated
    $174,651
    From this org
    $145,262
    From related orgs
    $0
    Other
    $29,389
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $126,434
    Bonus
    $1,600
    Other
    $17,228
    Deferred
    $17,808
    Nontaxable benefits
    $11,581
    Filer's total
    $174,651

  • Melissa Sanderson

    CORPORATE SE

    Total calculated
    $154,684
    From this org
    $71,382
    From related orgs
    $0
    Other
    $83,302
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $68,797
    Bonus
    $1,600
    Other
    $985
    Deferred
    $57,412
    Nontaxable benefits
    $25,890
    Filer's total
    $154,684

  • John L Williams

    GENERAL COUN

    Total calculated
    $24,186
    From this org
    $24,186
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jason Graves

    EMPLOYEE

    Total calculated
    $206,902
    From this org
    $129,622
    From related orgs
    $0
    Other
    $77,280
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $117,863
    Bonus
    $1,600
    Other
    $10,159
    Deferred
    $50,474
    Nontaxable benefits
    $26,806
    Filer's total
    $206,902

  • Derle Hill

    EMPLOYEE

    Total calculated
    $173,097
    From this org
    $144,812
    From related orgs
    $0
    Other
    $28,285
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $118,809
    Bonus
    $1,600
    Other
    $24,403
    Deferred
    $2,425
    Nontaxable benefits
    $25,860
    Filer's total
    $173,097

  • William Blackwell

    EMPLOYEE

    Total calculated
    $232,476
    From this org
    $136,386
    From related orgs
    $0
    Other
    $96,090
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $126,004
    Bonus
    $1,600
    Other
    $8,782
    Deferred
    $69,683
    Nontaxable benefits
    $26,407
    Filer's total
    $232,476

  • Barry Wilson

    EMPLOYEE

    Total calculated
    $194,973
    From this org
    $129,408
    From related orgs
    $0
    Other
    $65,565
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $119,364
    Bonus
    $1,500
    Other
    $8,544
    Deferred
    $40,061
    Nontaxable benefits
    $25,504
    Filer's total
    $194,973

  • Joseph M Bradley

    EMPLOYEE

    Total calculated
    $183,039
    From this org
    $127,593
    From related orgs
    $0
    Other
    $55,446
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $123,745
    Bonus
    $1,500
    Other
    $2,348
    Deferred
    $29,091
    Nontaxable benefits
    $26,355
    Filer's total
    $183,039

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 · 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

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.

  • MERIWETHER LEWIS CONNECT LLC

    BROADBAND · TN · income $10,218,073 · assets $4,209,766

    Directly controlled by MLEC

Provenance

Return type
form_990
Tax year
2022
Filed
3 January 2024
IRS schema version
2022v5.0
Source object
202400239349301135

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