Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: OPERATING REVENUES

  total $91,891,330 · related or exempt $91,891,330

• 3 · Investment income

  total $701,632 · unrelated business $385,783 · excluded $315,849

• 6a · Gross rents

  real property $10,823,530

• 6c · Rental income or loss

  real property $10,823,530

• 6d · Net rental income or loss

  total $10,823,530 · unrelated business $6,525,934 · excluded $4,297,596

• 10a · Gross sales of inventory

  $3,839,202

• 10b · Cost of goods sold

  $3,839,202

• 11a · Other revenue: BROADBAND ADMIN. FEES

  total $692,500 · unrelated business $692,500

• 11b · Other revenue: PATRONAGE CAPITAL

  total $644,746 · related or exempt $644,746

• 11c · Other revenue: NAVY PRIVATIZATION CONTRACT

  total $460,673 · related or exempt $460,673

• 11d · All other revenue

  total $196,018 · related or exempt $179,301 · unrelated business $16,717

• 11e · Other revenue, total

  $1,993,937

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $7,620,865

• 5 · Compensation of officers, directors and key employees

  total $899,351

• 7 · Other salaries and wages

  total $7,397,181

• 8 · Pension plan contributions

  total $2,231,960

• 9 · Other employee benefits

  total $2,641,020

• 10 · Payroll taxes

  total $912,385

• 11b · Fees: legal

  total $53,126

• 11c · Fees: accounting

  total $38,704

• 11g · Fees: other

  total $601

• 12 · Advertising and promotion

  total $517,241

• 20 · Interest

  total $7,620,757

• 22 · Depreciation, depletion and amortization

  total $10,816,658

• 24a · Other expenses: COST OF POWER

  total $55,229,044

• 24b · Other expenses: DISTRIBUTIONS - MAINTENAN

  total $3,749,245

• 24c · Other expenses: DISTRIBUTION - OPERATIONS

  total $2,840,779

• 24d · Other expenses: ADMINISTRATIVE & GENERAL

  total $1,240,843

• 24e · All other expenses

  total $1,600,669

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,652,797 · end of year $5,088,872

• 4 · Accounts receivable

  beginning of year $8,312,338 · end of year $8,615,481

• 7 · Other notes and loans receivable

  beginning of year $11,338,668 · end of year $11,096,872

• 8 · Inventories for sale or use

  beginning of year $12,143,017 · end of year $7,088,992

• 9 · Prepaid expenses and deferred charges

  beginning of year $442,620 · end of year $457,269

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

  $384,636,170

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

  $124,904,049

• 10c · Land, buildings and equipment, net

  beginning of year $246,571,809 · end of year $259,732,121

• 11 · Investments: publicly traded securities

  beginning of year $1,934,054 · end of year $2,360,001

• 12 · Investments: other securities

  beginning of year $4,765,124 · end of year $5,162,577

• 15 · Other assets

  beginning of year $6,249,678 · end of year $5,822,650

• 17 · Accounts payable and accrued expenses

  beginning of year $10,940,369 · end of year $11,067,564

• 23 · Secured mortgages and notes payable

  beginning of year $174,440,845 · end of year $174,965,822

• 25 · Other liabilities

  beginning of year $17,190,520 · end of year $15,417,415

• 31 · Retained earnings, endowment or other funds

  beginning of year $97,838,371 · end of year $103,974,034

The filer's explanations (Part III)

SCHEDULE J, PART III

COMPENSATION IS REVIEWED BY AN EXTERNAL ORGANIZATION AND COMPARED TO OTHER SIMILAR ORGANIZATIONS WITHIN THE ELECTRIC COOPERATIVE INDUSTRY.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• EAST MISSISSIPPI CONNECT LLC

  C CORP · BROADBAND · MS · 100% owned · share of income $18,276,766 · share of assets $13,416,360 · controlled entity