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Nonprofiteer
← LITTLE OCMULGEE ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by LITTLE OCMULGEE ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$25,249,689
Total expenses
$25,249,689
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$25,072,445
Investment income
$38,553
Other revenue
$138,691
Total assets, end of year
$66,749,310
Total liabilities, end of year
$40,277,450
Net assets or fund balances, end of year
$26,471,860
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$25,249,689

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: SALE OF ELECTRICITY

    total $24,960,362 · related or exempt $24,960,362

  • 2b · Program service revenue: G & T & OTHER CAPITAL CREDITS

    total $187,622 · related or exempt $187,622

  • 2c · Program service revenue: OTHER

    total -$75,539 · related or exempt -$75,539

  • 3 · Investment income

    total $38,553 · excluded $38,553

  • 6a · Gross rents

    real property $138,691

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $138,691

  • 6d · Net rental income or loss

    total $138,691 · related or exempt $138,691

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $703,315

  • 5 · Compensation of officers, directors and key employees

    total $363,938

  • 12 · Advertising and promotion

    total $3,374

  • 13 · Office expenses

    total $110,175

  • 20 · Interest

    total $699,000

  • 22 · Depreciation, depletion and amortization

    total $2,494,794

  • 24a · Other expenses: COST OF POWER

    total $17,031,786

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $2,159,096

  • 24c · Other expenses: ADMINISTRATIVE AND GENE

    total $690,559

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $488,076

  • 24e · All other expenses

    total $505,576

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,817,955 · end of year $3,152,280

  • 4 · Accounts receivable

    beginning of year $831,449 · end of year $987,702

  • 8 · Inventories for sale or use

    beginning of year $387,107 · end of year $713,738

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,173 · end of year $39,959

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

    $75,652,518

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

    $21,975,064

  • 10c · Land, buildings and equipment, net

    beginning of year $52,199,674 · end of year $53,677,454

  • 13 · Investments: program-related

    beginning of year $6,899,595 · end of year $7,046,279

  • 15 · Other assets

    beginning of year $922,722 · end of year $1,131,898

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,382,221 · end of year $1,741,246

  • 19 · Deferred revenue

    beginning of year $1,250,000 · end of year $750,000

  • 23 · Secured mortgages and notes payable

    beginning of year $29,035,765 · end of year $32,987,235

  • 25 · Other liabilities

    beginning of year $5,722,207 · end of year $4,798,969

  • 29 · Capital stock, trust principal or current funds

    beginning of year $39,745 · end of year $40,000

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,666,737 · end of year $26,431,860

Mission and programs · 2022

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARD OF SERVICE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARD OF SERVICE.

    Expenses $25,249,689 · Revenue $25,211,136

As filed on the 2022 return.

Listed in Part VII

  • Jimmy Grimes

    DIRECTOR

    Total calculated
    $19,261
    From this org
    $19,261
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • Wesley Yawn

    DIRECTOR

    Total calculated
    $24,489
    From this org
    $24,489
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4

  • George Best

    DIRECTOR

    Total calculated
    $7,335
    From this org
    $7,335
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Benny Evans

    DIRECTOR-SEC/TREASUR

    Total calculated
    $19,261
    From this org
    $19,261
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Larue Fountain

    DIRECTOR

    Total calculated
    $10,789
    From this org
    $10,789
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Fred Gilder

    DIRECTOR

    Total calculated
    $12,641
    From this org
    $12,641
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jim Knight

    DIRECTOR - VICE PRESIDENT

    Total calculated
    $13,139
    From this org
    $13,139
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • Carey Locke

    DIRECTOR - PRESIDENT

    Total calculated
    $19,261
    From this org
    $19,261
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Ronnie Bates

    DIRECTOR

    Total calculated
    $24,489
    From this org
    $24,489
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.2

  • Lewis Sheffield

    GENERAL MANAGER

    Total calculated
    $213,273
    From this org
    $178,147
    From related orgs
    $0
    Other
    $35,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,038
    Bonus
    $920
    Other
    $189
    Deferred
    $19,474
    Nontaxable benefits
    $15,652
    Filer's total
    $213,273

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 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.

Provenance

Return type
form_990
Tax year
2022
Filed
24 February 2023
IRS schema version
2022v4.1
Source object
202330659349300038

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