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Nonprofiteer
← MERIWETHER LEWIS ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by MERIWETHER LEWIS ELECTRIC COOPERATIVE.

Totals

Total revenue
$145,999,618
Total expenses
$136,532,296
Contributions and grants received
$569,171
Grants paid
$0
Program service revenue
$145,083,566
Investment income
$346,881
Other revenue
$0
Total assets, end of year
$206,439,138
Total liabilities, end of year
$114,448,703
Net assets or fund balances, end of year
$91,990,435
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)

    $569,171

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $128,645,842 · related or exempt $128,645,842

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

    total $13,811,171 · related or exempt $13,811,171

  • 2c · Program service revenue: POLE RENTALS

    total $2,204,645 · excluded $2,204,645

  • 2d · Program service revenue: FIBER LEASE

    total $421,908 · excluded $421,908

  • 3 · Investment income

    total $346,881 · excluded $346,881

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,258,117

  • 11b · Fees: legal

    total $19,294

  • 11c · Fees: accounting

    total $29,520

  • 11g · Fees: other

    total $52,777

  • 12 · Advertising and promotion

    total $113,376

  • 13 · Office expenses

    total $140,402

  • 16 · Occupancy

    total $514,920

  • 19 · Conferences, conventions and meetings

    total $44,463

  • 20 · Interest

    total $2,191,143

  • 22 · Depreciation, depletion and amortization

    total $11,386,195

  • 23 · Insurance

    total $127,807

  • 24a · Other expenses: COST OF POWER PURCHASED

    total $93,282,448

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

    total $10,703,043

  • 24c · Other expenses: DISTRIBUTION EXPENSE - MA

    total $8,392,664

  • 24d · Other expenses: CUSTOMER ACCOUNTS EXPENSE

    total $2,014,237

  • 24e · All other expenses

    total $5,261,890

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $647,669 · end of year $720,037

  • 2 · Savings and temporary cash investments

    beginning of year $1,332,964 · end of year $11,968,567

  • 4 · Accounts receivable

    beginning of year $7,999,767 · end of year $8,366,791

  • 7 · Other notes and loans receivable

    beginning of year $2,342,376 · end of year $2,384,386

  • 8 · Inventories for sale or use

    beginning of year $1,440,801 · end of year $1,358,597

  • 9 · Prepaid expenses and deferred charges

    beginning of year $288,291 · end of year $189,549

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

    $285,285,431

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

    $109,444,564

  • 10c · Land, buildings and equipment, net

    beginning of year $176,684,748 · end of year $175,840,867

  • 12 · Investments: other securities

    beginning of year $1,337,720 · end of year $1,386,028

  • 15 · Other assets

    beginning of year $4,193,587 · end of year $4,224,316

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,602,064 · end of year $28,549,843

  • 23 · Secured mortgages and notes payable

    beginning of year $78,037,800 · end of year $77,738,478

  • 25 · Other liabilities

    beginning of year $7,594,942 · end of year $8,160,382

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

    beginning of year $148,750 · end of year $150,455

  • 31 · Retained earnings, endowment or other funds

    beginning of year $82,884,367 · end of year $91,839,980

Mission and programs · 2024

Mission

NONE

Activities or mission (Part I)

RURAL ELECTRICITY DISTRIBUTION AND BROADBAND INTERNET AND COMMUNICATION SERVICES.

  • RURAL ELECTRICITY DISTRIBUTION TO 37,009 MEMBERS LOCATED IN HICKMAN, HOUSTON, HUMPHREYS, LEWIS, AND PERRY COUNTIES IN MIDDLE TENNESSEE.

  • PROVISION OF BROADBAND INTERNET AND COMMUNICATION SERVICES VIA FIBER OPTIC NETWORK TO RURAL HOMES AND BUSINESSES IN THE COOPERATIVE'S SERVICE AREA. THE ORGANIZATION HAD CONNECTED 18,429 CUSTOMERS AS OF 6/30/2025.

As filed on the 2024 return.

Listed in Part VII

  • Tommy Graham

    CHAIR

    Total calculated
    $37,991
    From this org
    $26,554
    From related orgs
    $0
    Other
    $11,437
    Hours/week
    1.39

  • Jeffrey D Peery DDS

    VICE CHAIR

    Total calculated
    $36,701
    From this org
    $36,701
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.89

  • Johnnie Ruth Elrod

    DIRECTOR

    Total calculated
    $35,363
    From this org
    $35,363
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.36

  • David Wayne Qualls

    DIRECTOR

    Total calculated
    $35,658
    From this org
    $35,658
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.75

  • Bill Webb

    DIRECTOR

    Total calculated
    $37,133
    From this org
    $36,178
    From related orgs
    $0
    Other
    $955
    Hours/week
    2.21

  • Jessie Wallace

    DIRECTOR

    Total calculated
    $33,868
    From this org
    $33,868
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.76

  • David Daniel

    DIRECTOR

    Total calculated
    $32,332
    From this org
    $32,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.01

  • Larry D Mayberry

    DIRECTOR

    Total calculated
    $33,397
    From this org
    $30,778
    From related orgs
    $0
    Other
    $2,619
    Hours/week
    1.27

  • Cass Rye

    DIRECTOR

    Total calculated
    $15,584
    From this org
    $15,584
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.53

  • Zachary Hutchens

    DIRECTOR

    Total calculated
    $38,841
    From this org
    $26,663
    From related orgs
    $0
    Other
    $12,178
    Hours/week
    1.61

  • Andrew Porch

    DIRECTOR

    Total calculated
    $35,113
    From this org
    $26,932
    From related orgs
    $0
    Other
    $8,181
    Hours/week
    1.93

  • Raymond H Fussell

    DIRECTOR

    Total calculated
    $36,762
    From this org
    $26,566
    From related orgs
    $0
    Other
    $10,196
    Hours/week
    2.38

  • Ronald Averett

    DIRECTOR

    Total calculated
    $8,944
    From this org
    $8,944
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.13

  • Keith Carnahan

    PRESIDENT AN

    Total calculated
    $372,458
    From this org
    $305,912
    From related orgs
    $0
    Other
    $66,546
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $257,944
    Bonus
    $100
    Other
    $47,868
    Deferred
    $37,278
    Nontaxable benefits
    $29,268
    Filer's total
    $372,458

  • Ken Little

    VP-EMERG. TE

    Total calculated
    $279,651
    From this org
    $182,025
    From related orgs
    $0
    Other
    $97,626
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,660
    Bonus
    $100
    Other
    $16,265
    Deferred
    $67,752
    Nontaxable benefits
    $29,874
    Filer's total
    $279,651

  • Miranda McCaleb

    VP-EMPLOYEE/

    Total calculated
    $291,920
    From this org
    $180,659
    From related orgs
    $0
    Other
    $111,261
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,910
    Bonus
    $100
    Other
    $20,649
    Deferred
    $79,372
    Nontaxable benefits
    $31,889
    Filer's total
    $291,920

  • Shane McCrory

    VP-INFO TECH

    Total calculated
    $254,827
    From this org
    $179,769
    From related orgs
    $0
    Other
    $75,058
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,506
    Bonus
    $100
    Other
    $22,163
    Deferred
    $46,155
    Nontaxable benefits
    $28,903
    Filer's total
    $254,827

  • Edward W Greenwell

    VP-OPER. & E

    Total calculated
    $206,138
    From this org
    $162,634
    From related orgs
    $0
    Other
    $43,504
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,726
    Bonus
    $100
    Other
    $3,808
    Deferred
    $14,597
    Nontaxable benefits
    $28,907
    Filer's total
    $206,138

  • Blake Harper

    VP - ADMIN S

    Total calculated
    $197,413
    From this org
    $172,503
    From related orgs
    $0
    Other
    $24,910
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,800
    Bonus
    $100
    Other
    $19,603
    Deferred
    $12,108
    Nontaxable benefits
    $12,802
    Filer's total
    $197,413

  • Melissa Sanderson

    CORPORATE SE

    Total calculated
    $143,014
    From this org
    $75,157
    From related orgs
    $0
    Other
    $67,857
    Hours/week
    40

  • John L Williams

    GENERAL COUN

    Total calculated
    $26,529
    From this org
    $26,529
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Karl Reynen

    EMPLOYEE

    Total calculated
    $185,892
    From this org
    $148,331
    From related orgs
    $0
    Other
    $37,561
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $148,206
    Bonus
    $100
    Other
    $25
    Deferred
    $9,022
    Nontaxable benefits
    $28,539
    Filer's total
    $185,892

  • Barry Wilson

    EMPLOYEE

    Total calculated
    $178,584
    From this org
    $135,892
    From related orgs
    $0
    Other
    $42,692
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $130,450
    Bonus
    $100
    Other
    $5,342
    Deferred
    $14,922
    Nontaxable benefits
    $27,770
    Filer's total
    $178,584

  • David Qualls

    EMPLOYEE

    Total calculated
    $202,918
    From this org
    $138,771
    From related orgs
    $0
    Other
    $64,147
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $137,572
    Bonus
    $100
    Other
    $1,099
    Deferred
    $36,371
    Nontaxable benefits
    $27,776
    Filer's total
    $202,918

  • Jason Graves

    EMPLOYEE

    Total calculated
    $198,536
    From this org
    $139,506
    From related orgs
    $0
    Other
    $59,030
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $127,364
    Bonus
    $100
    Other
    $12,042
    Deferred
    $29,882
    Nontaxable benefits
    $29,148
    Filer's total
    $198,536

  • William Blackwell

    EMPLOYEE

    Total calculated
    $217,119
    From this org
    $143,785
    From related orgs
    $0
    Other
    $73,334
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $136,142
    Bonus
    $100
    Other
    $7,543
    Deferred
    $44,614
    Nontaxable benefits
    $28,720
    Filer's total
    $217,119

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 $14,435,164 · assets $4,731,818

    Directly controlled by MLEC

Provenance

Return type
form_990
Tax year
2024
Filed
8 January 2026
IRS schema version
2024v5.0
Source object
202600149349301910

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