Form 990 for tax year 2023
Filed by MIDDLE TENNESSEE ELECTRIC MEMBERSHI P CORPORATION.
Totals
- Total revenue
- $897,322,235
- Total expenses
- $897,322,235
- Contributions and grants received
- $0
- Grants paid
- $388,443
- Program service revenue
- $885,790,215
- Investment income
- $2,270,295
- Other revenue
- $9,261,725
- Total assets, end of year
- $1,148,117,576
- Total liabilities, end of year
- $548,438,314
- Net assets or fund balances, end of year
- $599,679,262
- 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: ELECTRIC REVENUES
total $877,566,744 · related or exempt $877,566,744
-
2b · Program service revenue: MISCELLANEOUS SERVICE REVENUE
total $4,108,176 · related or exempt $4,108,176
-
2c · Program service revenue: REVENUE FROM LATE PAYMENTS
total $4,052,799 · related or exempt $4,052,799
-
2d · Program service revenue: OTHER ELECTRIC REVENUE
total $62,496 · related or exempt $62,496
-
3 · Investment income
total $2,872,646 · excluded $2,872,646
-
6a · Gross rents
personal property $7,375,465
-
6c · Rental income or loss
personal property $7,375,465
-
6d · Net rental income or loss
total $7,375,465 · excluded $7,375,465
-
7b · Less cost or other basis and sales expenses
other assets $602,351
-
7c · Gain or loss
other assets -$602,351
-
7d · Net gain or loss
total -$602,351 · excluded -$602,351
-
11a · Other revenue: OTHER INCOME
total $1,244,632 · related or exempt $1,244,632
-
11b · Other revenue: PATRONAGE CAPITAL CREDITS
total $641,628 · related or exempt $641,628
-
11e · Other revenue, total
$1,886,260
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $388,443
-
4 · Benefits paid to or for members
total $25,817,231
-
5 · Compensation of officers, directors and key employees
total $5,144,027
-
20 · Interest
total $8,542,123
-
22 · Depreciation, depletion and amortization
total $50,388,756
-
24a · Other expenses: COST OF POWER
total $690,654,388
-
24b · Other expenses: DISTIBUTION - MAINTENANCE
total $37,518,197
-
24c · Other expenses: DISTRIBUTION - OPERATING
total $32,910,716
-
24d · Other expenses: ADMINISTRATIVE AND GENERA
total $26,360,804
-
24e · All other expenses
total $19,597,550
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $39,234,229 · end of year $35,576,801
-
2 · Savings and temporary cash investments
beginning of year $200,000 · end of year $200,000
-
4 · Accounts receivable
beginning of year $64,899,248 · end of year $61,633,691
-
7 · Other notes and loans receivable
beginning of year $4,561,893 · end of year $4,486,146
-
8 · Inventories for sale or use
beginning of year $9,308,697 · end of year $12,070,409
-
9 · Prepaid expenses and deferred charges
beginning of year $3,508,120 · end of year $3,755,373
-
10a · Land, buildings and equipment: cost or other basis
$1,322,101,024
-
10b · Land, buildings and equipment: accumulated depreciation
$417,301,243
-
10c · Land, buildings and equipment, net
beginning of year $823,952,086 · end of year $904,799,781
-
12 · Investments: other securities
beginning of year $84,413,612 · end of year $98,266,510
-
15 · Other assets
beginning of year $30,514,545 · end of year $27,328,865
-
17 · Accounts payable and accrued expenses
beginning of year $102,396,686 · end of year $111,826,961
-
23 · Secured mortgages and notes payable
beginning of year $294,977,602 · end of year $344,164,651
-
25 · Other liabilities
beginning of year $86,554,332 · end of year $92,446,702
-
31 · Retained earnings, endowment or other funds
beginning of year $576,663,810 · end of year $599,679,262
Mission and programs · 2023
Mission
MIDDLE TENNESSEE ELECTRIC MEMBERSHIP CORPORATION'S MISSION IS TO PROVIDE AFFORDABLE, RELIABLE, SAFE ELECTRICITY AND OUTSTANDING MEMBER SERVICE.
-
MIDDLE TENNESSEE ELECTRIC MEMBERSHIP CORPORATION DISTRIBUTES ELECTRICITY TO ABOUT 339,729 RESIDENTIAL AND COMMERCIAL MEMBERS LOCATED IN CANNON, RUTHERFORD, WILLIAMSON, AND WILSON COUNTIES. THIS SERVICE AREA INCLUDES PARTS OF DAVIDSON, DEKALB, MARSHALL, MAURY, SMITH AND TROUSDALE COUNTIES AS WELL.
As filed on the 2023 return.
Listed in Part VII
-
Chris JonesCHRIS JONES
PRESIDENT/CE
- Total calculated
- $1,361,500
- From this org
- $1,029,800
- From related orgs
- $0
- Other
- $331,700
- Hours/week
- 54 + 4 related
Schedule J breakdown matched by us
- Base
- $672,390
- Bonus
- $1,800
- Other
- $355,610
- Deferred
- $303,726
- Nontaxable benefits
- $27,974
- Filer's total
- $1,361,500
-
Brad GibsonBRAD GIBSON
COO
- Total calculated
- $544,072
- From this org
- $392,803
- From related orgs
- $18,500
- Other
- $132,769
- Hours/week
- 55 + 5 related
Schedule J breakdown matched by us
- Base
- $390,343 + $18,500 related
- Bonus
- $750
- Other
- $1,710
- Deferred
- $104,962
- Nontaxable benefits
- $27,807
- Filer's total
- $525,572 + $18,500 related
-
Gray BatemanGRAY BATEMAN
CHRO/VP OF H
- Total calculated
- $435,451
- From this org
- $268,920
- From related orgs
- $0
- Other
- $166,531
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $261,507
- Bonus
- $2,025
- Other
- $5,388
- Deferred
- $139,957
- Nontaxable benefits
- $26,574
- Filer's total
- $435,451
-
Thomas SuggsTHOMAS SUGGS
COO
- Total calculated
- $407,856
- From this org
- $283,318
- From related orgs
- $0
- Other
- $124,538
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $273,162
- Bonus
- $3,500
- Other
- $6,656
- Deferred
- $99,147
- Nontaxable benefits
- $25,391
- Filer's total
- $407,856
-
Cindy LayneCINDY LAYNE
CFO
- Total calculated
- $405,824
- From this org
- $308,253
- From related orgs
- $0
- Other
- $97,571
- Hours/week
- 50 + 0.5 related
Schedule J breakdown matched by us
- Base
- $298,615
- Bonus
- $1,050
- Other
- $8,588
- Deferred
- $70,278
- Nontaxable benefits
- $27,293
- Filer's total
- $405,824
-
Daniel DementDANIEL DEMENT
VP OPERATION
- Total calculated
- $352,579
- From this org
- $228,977
- From related orgs
- $0
- Other
- $123,602
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $220,898
- Bonus
- $3,475
- Other
- $4,604
- Deferred
- $98,796
- Nontaxable benefits
- $24,806
- Filer's total
- $352,579
-
Keith ThomasonKEITH THOMASON
VP ENGINEERI
- Total calculated
- $379,322
- From this org
- $228,992
- From related orgs
- $0
- Other
- $150,330
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $221,112
- Bonus
- $3,100
- Other
- $4,780
- Deferred
- $125,403
- Nontaxable benefits
- $24,927
- Filer's total
- $379,322
-
P D MynattP D MYNATT
ASSISTANT GE
- Total calculated
- $387,672
- From this org
- $315,269
- From related orgs
- $0
- Other
- $72,403
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $298,316
- Bonus
- $2,475
- Other
- $14,478
- Deferred
- $61,491
- Nontaxable benefits
- $10,912
- Filer's total
- $387,672
-
Tuan BlankTUAN BLANK
VP FINANCE
- Total calculated
- $244,505
- From this org
- $214,591
- From related orgs
- $0
- Other
- $29,914
- Hours/week
- 50 + 1 related
Schedule J breakdown matched by us
- Base
- $213,068
- Bonus
- $375
- Other
- $1,148
- Deferred
- $3,988
- Nontaxable benefits
- $25,926
- Filer's total
- $244,505
-
Robert WhiteROBERT WHITE
VP OF COMM R
- Total calculated
- $356,706
- From this org
- $256,372
- From related orgs
- $0
- Other
- $100,334
- Hours/week
- 38 + 2 related
Schedule J breakdown matched by us
- Base
- $247,672
- Bonus
- $1,525
- Other
- $7,175
- Deferred
- $73,212
- Nontaxable benefits
- $27,122
- Filer's total
- $356,706
-
Robert S LongROBERT S LONG
INFORMATION
- Total calculated
- $321,360
- From this org
- $203,750
- From related orgs
- $0
- Other
- $117,610
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $198,059
- Bonus
- $1,800
- Other
- $3,891
- Deferred
- $91,516
- Nontaxable benefits
- $26,094
- Filer's total
- $321,360
-
Adam FewellADAM FEWELL
LINEMAN/SERV
- Total calculated
- $291,021
- From this org
- $225,861
- From related orgs
- $0
- Other
- $65,160
- Hours/week
- 69
Schedule J breakdown matched by us
- Base
- $223,706
- Bonus
- $1,725
- Other
- $430
- Deferred
- $41,379
- Nontaxable benefits
- $23,781
- Filer's total
- $291,021
-
Dan C BondsDAN C BONDS
LINEMAN/SERV
- Total calculated
- $271,768
- From this org
- $219,768
- From related orgs
- $0
- Other
- $52,000
- Hours/week
- 74
Schedule J breakdown matched by us
- Base
- $218,181
- Bonus
- $1,200
- Other
- $387
- Deferred
- $24,479
- Nontaxable benefits
- $27,521
- Filer's total
- $271,768
-
Phillip LimPHILLIP LIM
ANALYTICS AD
- Total calculated
- $269,428
- From this org
- $209,515
- From related orgs
- $0
- Other
- $59,913
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $198,142
- Bonus
- $675
- Other
- $10,698
- Deferred
- $50,333
- Nontaxable benefits
- $9,580
- Filer's total
- $269,428
-
Ryan StevensRYAN STEVENS
LINEMAN/SERV
- Total calculated
- $250,686
- From this org
- $199,536
- From related orgs
- $0
- Other
- $51,150
- Hours/week
- 67
Schedule J breakdown matched by us
- Base
- $197,756
- Bonus
- $1,350
- Other
- $430
- Deferred
- $27,370
- Nontaxable benefits
- $23,780
- Filer's total
- $250,686
-
Steve SegerSTEVE SEGER
BOARD CHAIR
- Total calculated
- $47,980
- From this org
- $29,480
- From related orgs
- $18,500
- Other
- $0
- Hours/week
- 12 + 4 related
-
Will JordanWILL JORDAN
DIRECTOR
- Total calculated
- $41,310
- From this org
- $22,810
- From related orgs
- $18,500
- Other
- $0
- Hours/week
- 8 + 10 related
-
Mike WoodsMIKE WOODS
DIRECTOR
- Total calculated
- $29,020
- From this org
- $27,020
- From related orgs
- $2,000
- Other
- $0
- Hours/week
- 9 + 1.5 related
-
Ann LittleANN LITTLE
DIRECTOR
- Total calculated
- $21,310
- From this org
- $21,310
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
-
James E MillsJAMES E MILLS
BOARD VICE C
- Total calculated
- $24,230
- From this org
- $24,230
- From related orgs
- $0
- Other
- $0
- Hours/week
- 9 + 1 related
-
Ross BradleyROSS BRADLEY
DIRECTOR
- Total calculated
- $24,430
- From this org
- $24,430
- From related orgs
- $0
- Other
- $0
- Hours/week
- 9 + 3.5 related
-
Gloria O'SteenGLORIA O'STEEN
DIRECTOR
- Total calculated
- $23,020
- From this org
- $23,020
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Charles BowmanCHARLES BOWMAN
DIRECTOR
- Total calculated
- $21,850
- From this org
- $21,850
- From related orgs
- $0
- Other
- $0
- Hours/week
- 12 + 0.5 related
-
David LeeDAVID LEE
DIRECTOR
- Total calculated
- $24,400
- From this org
- $24,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10 + 5 related
-
Harold Gordon Bone JrHAROLD GORDON BONE JR
DIRECTOR
- Total calculated
- $24,440
- From this org
- $24,440
- From related orgs
- $0
- Other
- $0
- Hours/week
- 9 + 1.5 related
-
Shervondalonn BrownSHERVONDALONN BROWN
DIRECTOR
- Total calculated
- $20,830
- From this org
- $20,830
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
-
Vanessa James HickmanVANESSA JAMES HICKMAN
BOARD SEC/TR
- Total calculated
- $23,520
- From this org
- $23,520
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8 + 1.5 related
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 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 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
-
MIDDLE TENNESSEE ELECTRIC SHARING C
$369,000
OPERATIONS
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.
-
MIDDLE TENNESSEE ELECTRIC SHARING C HANGE INC
501C3 · PART VII · TN · controlled entity
Directly controlled by NA
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.
-
MTE HOLDINGS LLC
PART VII · TN · income $490,345 · assets $62,036,462
Directly controlled by MIDDLE TEN NESSEE ELECTRIC MEMBERSHIP CORPORAT
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
UNITED COMMUNICATIONS HOLDINGS LLC
C CORP · PART VII · TN · 93.33% owned · share of income $44,808,203 · share of assets $149,857,388 · controlled entity
-
MIDDLE TENNESSEE RENEWABLE ENERGY LLC
C CORP · SOLAR PWER · TN · 100% owned · share of income $112,773 · share of assets $189,243 · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 30 October 2024
- IRS schema version
- 2023v5.0
- Source object
- 202443139349301409
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