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← MONROE COUNTY ELECTRIC POWER ASSN

Form 990 for tax year 2024

Filed by MONROE COUNTY ELECTRIC POWER ASSN.

Totals

Total revenue
$33,746,355
Total expenses
$30,542,012
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$30,529,613
Investment income
$533,730
Other revenue
$2,683,012
Total assets, end of year
$86,834,510
Total liabilities, end of year
$36,731,402
Net assets or fund balances, end of year
$50,103,108
Program services expenses (Part IX)
$30,542,012
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$30,542,012

Program services were 100.0% 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 SALES

    total $28,859,710 · related or exempt $28,859,710

  • 2b · Program service revenue: POLE RENTAL

    total $1,669,903 · related or exempt $1,669,903

  • 3 · Investment income

    total $533,730 · related or exempt $533,730

  • 11a · Other revenue: OTHER NON-OPERATING INCOME

    total $1,361,474 · related or exempt $1,361,474

  • 11b · Other revenue: FIBER LEASE

    total $1,133,235 · unrelated business $1,133,235

  • 11c · Other revenue: OPEB INCOME

    total $184,303 · related or exempt $184,303

  • 11d · All other revenue

    total $4,000 · related or exempt $4,000

  • 11e · Other revenue, total

    $2,683,012

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,473,969 · program services $1,473,969

  • 8 · Pension plan contributions

    total $372,022 · program services $372,022

  • 9 · Other employee benefits

    total $160,325 · program services $160,325

  • 10 · Payroll taxes

    total $97,952 · program services $97,952

  • 13 · Office expenses

    total $40,453 · program services $40,453

  • 20 · Interest

    total $1,024,435 · program services $1,024,435

  • 22 · Depreciation, depletion and amortization

    total $3,437,513 · program services $3,437,513

  • 23 · Insurance

    total $11,393 · program services $11,393

  • 24a · Other expenses: ELECTRIC POWER COSTS

    total $21,003,232 · program services $21,003,232

  • 24b · Other expenses: DISTRIBUTION & MAINTENANC

    total $2,206,464 · program services $2,206,464

  • 24c · Other expenses: CUSTOMER ACCOUNTS

    total $356,101 · program services $356,101

  • 24d · Other expenses: GENERAL & ADMINISTRATIVE

    total $254,329 · program services $254,329

  • 24e · All other expenses

    total $103,824 · program services $103,824

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,013,143 · end of year $4,353,812

  • 4 · Accounts receivable

    beginning of year $5,014,691 · end of year $6,004,566

  • 8 · Inventories for sale or use

    beginning of year $1,763,666 · end of year $1,916,047

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,767,722 · end of year $5,744,189

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

    $101,766,003

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

    $40,419,049

  • 10c · Land, buildings and equipment, net

    beginning of year $61,796,023 · end of year $61,346,954

  • 12 · Investments: other securities

    beginning of year $1,914,507 · end of year $3,379,305

  • 15 · Other assets

    beginning of year $4,144,547 · end of year $4,089,637

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,734,267 · end of year $4,013,017

  • 23 · Secured mortgages and notes payable

    beginning of year $27,709,251 · end of year $26,660,100

  • 25 · Other liabilities

    beginning of year $6,081,346 · end of year $6,058,285

  • 31 · Retained earnings, endowment or other funds

    beginning of year $46,889,435 · end of year $50,103,108

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE ELECTRIC SERVICE TO THE ASSOCIATION WITH MORE THAN 12,000 MEMBERS.

Activities or mission (Part I)

PROVIDING ELECTRICAL POWER SERVICE TO RURAL AREAS.

  • PROVIDING ELECTRICAL POWER SERVICE TO RURAL AREAS.

    Expenses $30,542,012 · Revenue $30,529,613

As filed on the 2024 return.

Listed in Part VII

  • Barry Rowland

    GENERAL MANA

    Total calculated
    $247,131
    From this org
    $202,702
    From related orgs
    $0
    Other
    $44,429
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,702
    Bonus
    not reported
    Other
    not reported
    Deferred
    $44,429
    Nontaxable benefits
    not reported
    Filer's total
    $247,131

  • Ryan Payne

    SECRETARY/TR

    Total calculated
    $152,995
    From this org
    $118,284
    From related orgs
    $0
    Other
    $34,711
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,284
    Bonus
    not reported
    Other
    not reported
    Deferred
    $34,711
    Nontaxable benefits
    not reported
    Filer's total
    $152,995

  • Stanley Brumley

    DIRECTOR

    Total calculated
    $3,215
    From this org
    $3,000
    From related orgs
    $0
    Other
    $215
    Hours/week
    1

  • Phil Prewitt

    VICE PRESIDE

    Total calculated
    $3,215
    From this org
    $3,000
    From related orgs
    $0
    Other
    $215
    Hours/week
    1

  • Mechelle Welch

    DIRECTOR

    Total calculated
    $3,215
    From this org
    $3,000
    From related orgs
    $0
    Other
    $215
    Hours/week
    1

  • Brenda Willis

    DIRECTOR

    Total calculated
    $3,215
    From this org
    $3,000
    From related orgs
    $0
    Other
    $215
    Hours/week
    1

  • Frank Owen

    PRESIDENT

    Total calculated
    $3,133
    From this org
    $3,000
    From related orgs
    $0
    Other
    $133
    Hours/week
    1

  • Avery Duncan

    DIRECTOR

    Total calculated
    $2,715
    From this org
    $2,500
    From related orgs
    $0
    Other
    $215
    Hours/week
    1

  • Phil Sullivan

    DIRECTOR

    Total calculated
    $2,715
    From this org
    $2,500
    From related orgs
    $0
    Other
    $215
    Hours/week
    1

  • Ira Thomas Crook III

    DIRECTOR

    Total calculated
    $2,112
    From this org
    $2,000
    From related orgs
    $0
    Other
    $112
    Hours/week
    1

  • Roy Lee Lindsey

    DIRECTOR

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

  • Steven Reeves

    DIRECTOR

    Total calculated
    $1,072
    From this org
    $1,000
    From related orgs
    $0
    Other
    $72
    Hours/week
    1

  • Phyllis Lindsey

    DIRECTOR

    Total calculated
    $1,054
    From this org
    $1,000
    From related orgs
    $0
    Other
    $54
    Hours/week
    1

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

None.

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
2024
Filed
28 October 2025
IRS schema version
2024v5.0
Source object
202533189349311318

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