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Nonprofiteer
← PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2023

Filed by PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$149,565,482
Total expenses
$149,918,901
Contributions and grants received
$2,576,178
Grants paid
$33,019
Program service revenue
$146,898,635
Investment income
$90,669
Other revenue
$0
Total assets, end of year
$387,763,546
Total liabilities, end of year
$248,600,904
Net assets or fund balances, end of year
$139,162,642
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$140,152,789

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)

    $2,576,178

  • 2a · Program service revenue: ELECTRIC SALES

    total $135,873,740 · related or exempt $135,873,740

  • 2b · Program service revenue: TELECOM REVENUE

    total $5,134,460 · unrelated business $5,134,460

  • 2c · Program service revenue: PATRONAGE CREDITS

    total $4,618,480 · related or exempt $4,618,480

  • 2d · Program service revenue: COMMON USE POLE RENTAL

    total $1,271,955 · related or exempt $1,271,955

  • 3 · Investment income

    total $42,365 · excluded $42,365

  • 7a · Gross sales of assets other than inventory

    other assets $170,765

  • 7b · Less cost or other basis and sales expenses

    other assets $122,461

  • 7c · Gain or loss

    other assets $48,304

  • 7d · Net gain or loss

    total $48,304 · related or exempt $48,304

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $33,019

  • 4 · Benefits paid to or for members

    total $9,766,112

  • 5 · Compensation of officers, directors and key employees

    total $975,551

  • 7 · Other salaries and wages

    total $5,436,035

  • 8 · Pension plan contributions

    total $2,120,769

  • 9 · Other employee benefits

    total $4,126,461

  • 10 · Payroll taxes

    total $663,399

  • 11b · Fees: legal

    total $46,688

  • 11c · Fees: accounting

    total $144,050

  • 13 · Office expenses

    total $1,082,591

  • 17 · Travel

    total $132,913

  • 20 · Interest

    total $10,279,577

  • 22 · Depreciation, depletion and amortization

    total $8,268,891

  • 24a · Other expenses: UNRELATED BUSINESS INCO

    total $65,894

  • 24b · Other expenses: COST OF POWER

    total $91,243,372

  • 24c · Other expenses: DISTRIBUTION- MAINTENAN

    total $9,075,738

  • 24d · Other expenses: ADMINISTRATIVE & GENERA

    total $2,080,882

  • 24e · All other expenses

    total $4,376,959

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $591,357 · end of year $1,246,654

  • 4 · Accounts receivable

    beginning of year $11,378,314 · end of year $12,670,145

  • 8 · Inventories for sale or use

    beginning of year $17,257,657 · end of year $22,984,310

  • 9 · Prepaid expenses and deferred charges

    beginning of year $353,407 · end of year $337,164

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

    $397,507,465

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

    $110,233,622

  • 10c · Land, buildings and equipment, net

    beginning of year $230,523,018 · end of year $287,273,843

  • 13 · Investments: program-related

    end of year $255,485

  • 15 · Other assets

    beginning of year $62,388,456 · end of year $62,995,945

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,443,411 · end of year $18,394,158

  • 19 · Deferred revenue

    beginning of year $900,000 · end of year $3,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $148,873,609 · end of year $206,069,381

  • 25 · Other liabilities

    beginning of year $21,616,239 · end of year $21,137,365

  • 29 · Capital stock, trust principal or current funds

    beginning of year $312,710 · end of year $310,880

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

    beginning of year $608,062 · end of year $608,062

  • 31 · Retained earnings, endowment or other funds

    beginning of year $132,738,178 · end of year $138,243,700

Mission and programs · 2023

Mission

THE ASSOCIATION'S MISSION IS IMPROVING THE FUTURE FOR ALL OF ITS MEMBERS IN SOUTH MISSISSIPPI. THE FIRST STEP IS BRINGING SAFE AND DEPENDABLE ENERGY AT THE LOWEST POSSIBLE COST.

Activities or mission (Part I)

THE ASSOCIATION'S MISSION IS IMPROVING THE FUTURE FOR ALL OF OUR MEMBERS IN SOUTH MISSISSIPPI. THE FIRST STEP IS BRINGING SAFE AND DEPENDABLE ENERGY AT THE LOWEST POSSIBLE COST.

  • PRVEPA PROVIDED ELECTRIC POWER TO 53,323 CONSUMERS DURING 2023.

    Expenses $140,152,789 · Revenue $141,812,479

As filed on the 2023 return.

Listed in Part VII

  • Wa Kendrick

    SECRETARY/TREASURER

    Total calculated
    $25,214
    From this org
    $25,214
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.95

  • Lavell Bond

    VICE PRESIDENT

    Total calculated
    $30,165
    From this org
    $30,165
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.56

  • Bf Hudson Jr

    DIRECTOR

    Total calculated
    $28,074
    From this org
    $28,074
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.29

  • Hugh Gene Smith

    DIRECTOR

    Total calculated
    $28,461
    From this org
    $28,461
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.44

  • Danny Wilks

    PRESIDENT

    Total calculated
    $29,563
    From this org
    $29,563
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.65

  • Leslie Peters

    DIRECTOR

    Total calculated
    $24,073
    From this org
    $24,073
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.71

  • Jack Bradshaw

    DIRECTOR

    Total calculated
    $26,653
    From this org
    $26,653
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.19

  • Matt Thomas

    DIRECTOR

    Total calculated
    $26,768
    From this org
    $26,768
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.37

  • Davis Wingo

    DIRECTOR

    Total calculated
    $25,159
    From this org
    $25,159
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Jeff Tinnon

    DIRECTOR

    Total calculated
    $26,307
    From this org
    $26,307
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Matthew Ware

    CEO/GENERAL MANAGER

    Total calculated
    $403,682
    From this org
    $346,748
    From related orgs
    $0
    Other
    $56,934
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $346,748
    Bonus
    $0
    Other
    $0
    Deferred
    $40,644
    Nontaxable benefits
    $16,290
    Filer's total
    $403,682

  • Jody Thornton

    CHIEF FINANCIAL OFFICER

    Total calculated
    $206,619
    From this org
    $182,595
    From related orgs
    $0
    Other
    $24,024
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $182,595
    Bonus
    $0
    Other
    $0
    Deferred
    $13,879
    Nontaxable benefits
    $10,145
    Filer's total
    $206,619

  • Erik Lavine

    MANAGER, ENGINEERING & OPE

    Total calculated
    $227,892
    From this org
    $193,259
    From related orgs
    $0
    Other
    $34,633
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $193,259
    Bonus
    $0
    Other
    $0
    Deferred
    $18,265
    Nontaxable benefits
    $16,368
    Filer's total
    $227,892

  • Anthony Harris

    MANAGER, ECON DEV & COMM R

    Total calculated
    $206,417
    From this org
    $172,805
    From related orgs
    $0
    Other
    $33,612
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,805
    Bonus
    $0
    Other
    $0
    Deferred
    $17,244
    Nontaxable benefits
    $16,368
    Filer's total
    $206,417

  • George Cutrer

    DISTRICT MANAGER

    Total calculated
    $214,852
    From this org
    $181,160
    From related orgs
    $0
    Other
    $33,692
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,160
    Bonus
    $0
    Other
    $0
    Deferred
    $17,324
    Nontaxable benefits
    $16,368
    Filer's total
    $214,852

  • William McCrary

    DISTRICT MANAGER

    Total calculated
    $198,954
    From this org
    $166,228
    From related orgs
    $0
    Other
    $32,726
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,228
    Bonus
    $0
    Other
    $0
    Deferred
    $16,358
    Nontaxable benefits
    $16,368
    Filer's total
    $198,954

  • James Armstrong

    MANAGER, PURCHASING & FACI

    Total calculated
    $204,928
    From this org
    $170,601
    From related orgs
    $0
    Other
    $34,327
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,601
    Bonus
    $0
    Other
    $0
    Deferred
    $17,959
    Nontaxable benefits
    $16,368
    Filer's total
    $204,928

  • Jeffrey Sloan

    IT MANAGER

    Total calculated
    $181,095
    From this org
    $156,377
    From related orgs
    $0
    Other
    $24,718
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,377
    Bonus
    $0
    Other
    $0
    Deferred
    $12,084
    Nontaxable benefits
    $12,634
    Filer's total
    $181,095

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 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

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.

  • PEARL RIVER VALLEY COMMUNICATIONS LLC

    TELECOMMUNICATIONS · MS · income $7,710,638 · assets $8,457,234

    Directly controlled by PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202443199349304904

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