Skip to content
Nonprofiteer
← MERIWETHER LEWIS ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by MERIWETHER LEWIS ELECTRIC COOPERATIVE.

Totals

Total revenue
$133,216,158
Total expenses
$124,635,068
Contributions and grants received
$543,163
Grants paid
$0
Program service revenue
$132,414,506
Investment income
$258,489
Other revenue
$0
Total assets, end of year
$196,267,923
Total liabilities, end of year
$113,234,806
Net assets or fund balances, end of year
$83,033,117
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.

  • 1e · Government grants (contributions)

    $543,163

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $117,515,523 · related or exempt $117,515,523

  • 2b · Program service revenue: SERVICE REVENUE - ML CONNECT

    total $12,367,933 · related or exempt $12,367,933

  • 2c · Program service revenue: POLE RENTALS

    total $2,121,327 · excluded $2,121,327

  • 2d · Program service revenue: FIBER LEASE

    total $409,723 · excluded $409,723

  • 3 · Investment income

    total $258,489 · excluded $258,489

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,121,401

  • 11b · Fees: legal

    total $13,933

  • 11c · Fees: accounting

    total $39,585

  • 11g · Fees: other

    total $48,931

  • 12 · Advertising and promotion

    total $111,489

  • 13 · Office expenses

    total $76,383

  • 16 · Occupancy

    total $476,663

  • 19 · Conferences, conventions and meetings

    total $58,507

  • 20 · Interest

    total $2,531,108

  • 22 · Depreciation, depletion and amortization

    total $10,660,335

  • 23 · Insurance

    total $107,448

  • 24a · Other expenses: COST OF POWER PURCHASED

    total $85,281,874

  • 24b · Other expenses: OPERATING EXP. - ML CONNE

    total $9,096,890

  • 24c · Other expenses: DISTRIBUTION EXPENSE - MA

    total $6,720,213

  • 24d · Other expenses: CUSTOMER ACCOUNTS EXPENSE

    total $2,060,854

  • 24e · All other expenses

    total $5,229,454

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,204,784 · end of year $647,669

  • 2 · Savings and temporary cash investments

    beginning of year $428,764 · end of year $1,332,964

  • 4 · Accounts receivable

    beginning of year $10,789,672 · end of year $7,999,767

  • 7 · Other notes and loans receivable

    beginning of year $2,573,484 · end of year $2,342,376

  • 8 · Inventories for sale or use

    beginning of year $1,778,735 · end of year $1,440,801

  • 9 · Prepaid expenses and deferred charges

    beginning of year $122,765 · end of year $288,291

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

    $282,730,340

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

    $106,045,592

  • 10c · Land, buildings and equipment, net

    beginning of year $169,385,718 · end of year $176,684,748

  • 12 · Investments: other securities

    beginning of year $1,312,790 · end of year $1,337,720

  • 15 · Other assets

    beginning of year $3,886,451 · end of year $4,193,587

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,587,563 · end of year $27,602,064

  • 23 · Secured mortgages and notes payable

    beginning of year $81,447,746 · end of year $78,037,800

  • 25 · Other liabilities

    beginning of year $7,485,497 · end of year $7,594,942

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

    beginning of year $147,370 · end of year $148,750

  • 31 · Retained earnings, endowment or other funds

    beginning of year $74,814,987 · end of year $82,884,367

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

RURAL ELECTRICITY DISTRIBUTION AND BROADBAND INTERNET AND COMMUNICATION SERVICES.

  • RURAL ELECTRICITY DISTRIBUTION TO 36,524 MEMBERS LOCATED IN HICKMAN, HOUSTON, HUMPHREYS, LEWIS, AND PERRY COUNTIES IN MIDDLE TENNESSEE.

  • PROVISION OF BROADBAND INTERNET AND COMMUNICATION SERVICES VIA FIBER OPTIC NETWORK TO RURAL HOMES AND BUSINESSES IN THE COOPERATIVE'S SERVICE AREA. THE ORGANIZATION HAD CONNECTED 16,503 CUSTOMERS AS OF 6/30/2024.

As filed on the 2023 return.

Listed in Part VII

  • Tommy Graham

    CHAIR

    Total calculated
    $31,170
    From this org
    $24,931
    From related orgs
    $0
    Other
    $6,239
    Hours/week
    2.1

  • Jeffrey D Peery DDS

    VICE CHAIR

    Total calculated
    $30,295
    From this org
    $30,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.65

  • Johnnie Ruth Elrod

    DIRECTOR

    Total calculated
    $31,089
    From this org
    $31,089
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.86

  • David Wayne Qualls

    DIRECTOR

    Total calculated
    $31,834
    From this org
    $31,834
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.35

  • Bill Webb

    DIRECTOR

    Total calculated
    $33,365
    From this org
    $32,905
    From related orgs
    $0
    Other
    $460
    Hours/week
    3.44

  • Jessie Wallace

    DIRECTOR

    Total calculated
    $31,045
    From this org
    $31,045
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.42

  • David Daniel

    DIRECTOR

    Total calculated
    $29,995
    From this org
    $29,995
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.47

  • Larry D Mayberry

    DIRECTOR

    Total calculated
    $31,166
    From this org
    $29,905
    From related orgs
    $0
    Other
    $1,261
    Hours/week
    1.79

  • Cass Rye

    DIRECTOR

    Total calculated
    $15,415
    From this org
    $15,415
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.62

  • Zachary Hutchens

    DIRECTOR

    Total calculated
    $30,883
    From this org
    $25,039
    From related orgs
    $0
    Other
    $5,844
    Hours/week
    3.14

  • Andrew Porch

    DIRECTOR

    Total calculated
    $30,450
    From this org
    $25,045
    From related orgs
    $0
    Other
    $5,405
    Hours/week
    1.78

  • Raymond H Fussell

    DIRECTOR

    Total calculated
    $31,341
    From this org
    $24,943
    From related orgs
    $0
    Other
    $6,398
    Hours/week
    2.09

  • Ronald Averett

    DIRECTOR

    Total calculated
    $7,542
    From this org
    $7,542
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.01

  • Keith Carnahan

    PRESIDENT AN

    Total calculated
    $376,091
    From this org
    $301,246
    From related orgs
    $0
    Other
    $74,845
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $248,735
    Bonus
    $2,100
    Other
    $50,411
    Deferred
    $46,971
    Nontaxable benefits
    $27,874
    Filer's total
    $376,091

  • Ken Little

    VP-EMERG. TE

    Total calculated
    $263,516
    From this org
    $170,983
    From related orgs
    $0
    Other
    $92,533
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,779
    Bonus
    $2,100
    Other
    $13,104
    Deferred
    $64,251
    Nontaxable benefits
    $28,282
    Filer's total
    $263,516

  • Miranda McCaleb

    VP-EMPLOYEE/

    Total calculated
    $275,087
    From this org
    $169,514
    From related orgs
    $0
    Other
    $105,573
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $149,499
    Bonus
    $2,100
    Other
    $17,915
    Deferred
    $75,285
    Nontaxable benefits
    $30,288
    Filer's total
    $275,087

  • Shane McCrory

    VP-INFO TECH

    Total calculated
    $241,450
    From this org
    $168,545
    From related orgs
    $0
    Other
    $72,905
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,760
    Bonus
    $2,100
    Other
    $19,685
    Deferred
    $45,536
    Nontaxable benefits
    $27,369
    Filer's total
    $241,450

  • Edward W Greenwell

    VP-OPER. & E

    Total calculated
    $207,724
    From this org
    $151,084
    From related orgs
    $0
    Other
    $56,640
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,519
    Bonus
    $2,100
    Other
    $2,465
    Deferred
    $29,261
    Nontaxable benefits
    $27,379
    Filer's total
    $207,724

  • Blake Harper

    VP - ADMIN S

    Total calculated
    $176,298
    From this org
    $151,457
    From related orgs
    $0
    Other
    $24,841
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $135,271
    Bonus
    $2,100
    Other
    $14,086
    Deferred
    $12,867
    Nontaxable benefits
    $11,974
    Filer's total
    $176,298

  • Melissa Sanderson

    CORPORATE SE

    Total calculated
    $144,781
    From this org
    $73,711
    From related orgs
    $0
    Other
    $71,070
    Hours/week
    40

  • John L Williams

    GENERAL COUN

    Total calculated
    $24,907
    From this org
    $24,907
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Karl Reynen

    EMPLOYEE

    Total calculated
    $176,341
    From this org
    $140,127
    From related orgs
    $0
    Other
    $36,214
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $138,004
    Bonus
    $2,100
    Other
    $23
    Deferred
    $9,171
    Nontaxable benefits
    $27,043
    Filer's total
    $176,341

  • Barry Wilson

    EMPLOYEE

    Total calculated
    $194,750
    From this org
    $140,407
    From related orgs
    $0
    Other
    $54,343
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $132,536
    Bonus
    $2,100
    Other
    $5,771
    Deferred
    $28,057
    Nontaxable benefits
    $26,286
    Filer's total
    $194,750

  • Nicholas Edwards

    EMPLOYEE

    Total calculated
    $170,656
    From this org
    $135,821
    From related orgs
    $0
    Other
    $34,835
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $133,798
    Bonus
    $2,000
    Other
    $23
    Deferred
    $8,081
    Nontaxable benefits
    $26,754
    Filer's total
    $170,656

  • Joseph M Bradley

    EMPLOYEE

    Total calculated
    $179,591
    From this org
    $135,538
    From related orgs
    $0
    Other
    $44,053
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $133,354
    Bonus
    $2,100
    Other
    $84
    Deferred
    $16,891
    Nontaxable benefits
    $27,162
    Filer's total
    $179,591

  • William Blackwell

    EMPLOYEE

    Total calculated
    $210,004
    From this org
    $139,231
    From related orgs
    $0
    Other
    $70,773
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $129,810
    Bonus
    $2,100
    Other
    $7,321
    Deferred
    $43,574
    Nontaxable benefits
    $27,199
    Filer's total
    $210,004

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 · Written employment contract
  • 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

No itemized grants to organizations 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.

  • MERIWETHER LEWIS CONNECT LLC

    BROADBAND · TN · income $12,970,442 · assets $5,140,435

    Directly controlled by MLEC

Provenance

Return type
form_990
Tax year
2023
Filed
30 December 2024
IRS schema version
2023v6.0
Source object
202530159349303013

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.