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Nonprofiteer
← DIXIE ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by DIXIE ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$316,976,547
Total expenses
$308,931,133
Contributions and grants received
$0
Grants paid
$10,000
Program service revenue
$314,891,056
Investment income
$144,640
Other revenue
$1,940,851
Total assets, end of year
$737,870,324
Total liabilities, end of year
$618,576,049
Net assets or fund balances, end of year
$119,294,275
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALES OF ELECTRICITY

    total $309,799,601 · related or exempt $309,799,601

  • 2b · Program service revenue: SERVICE FEES

    total $4,296,846 · related or exempt $4,296,846

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $794,609 · related or exempt $794,609

  • 3 · Investment income

    total $144,640 · excluded $144,640

  • 6a · Gross rents

    personal property $140,543

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $140,543

  • 6d · Net rental income or loss

    total $140,543 · unrelated business $140,543

  • 10b · Cost of goods sold

    $845

  • 10c · Net income from sales of inventory

    total -$845 · related or exempt -$845

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $1,819,499 · excluded $1,819,499

  • 11b · Other revenue: MUTUAL AID ASSISTANCE

    total -$18,346 · related or exempt -$18,346

  • 11e · Other revenue, total

    $1,801,153

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000

  • 5 · Compensation of officers, directors and key employees

    total $1,470,996

  • 7 · Other salaries and wages

    total $15,427,734

  • 8 · Pension plan contributions

    total $2,912,599

  • 9 · Other employee benefits

    total $8,862,541

  • 10 · Payroll taxes

    total $1,027,982

  • 20 · Interest

    total $16,588,819

  • 22 · Depreciation, depletion and amortization

    total $23,734,720

  • 24a · Other expenses: PURCHASED POWER

    total $206,021,826

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $15,788,029

  • 24c · Other expenses: TAXES

    total $7,238,857

  • 24d · Other expenses: UNRELATED BUS. INC. TAX

    total $17,100

  • 24e · All other expenses

    total $9,829,930

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,098,396 · end of year $7,114,366

  • 2 · Savings and temporary cash investments

    beginning of year $5,390,000

  • 4 · Accounts receivable

    beginning of year $22,732,907 · end of year $27,241,899

  • 7 · Other notes and loans receivable

    beginning of year $294,760 · end of year $270,304

  • 8 · Inventories for sale or use

    beginning of year $7,705,171 · end of year $8,383,208

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,125,714 · end of year $14,355,785

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

    $826,243,613

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

    $203,146,841

  • 10c · Land, buildings and equipment, net

    beginning of year $610,258,901 · end of year $623,096,772

  • 13 · Investments: program-related

    beginning of year $12,390,362 · end of year $12,154,020

  • 15 · Other assets

    beginning of year $52,182,223 · end of year $45,253,970

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,098,432 · end of year $51,275,081

  • 23 · Secured mortgages and notes payable

    beginning of year $494,891,859 · end of year $521,408,355

  • 25 · Other liabilities

    beginning of year $61,175,542 · end of year $45,892,613

  • 29 · Capital stock, trust principal or current funds

    beginning of year $404,815 · end of year $374,625

  • 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 $110,607,786 · end of year $118,919,650

Mission and programs · 2022

Mission

DEMCO IS FOCUSED ON ENHANCING THE QUALITY OF LIFE FOR MEMBERS BY PROVIDING SAFE, RELIABLE AND COMPETITIVELY PRICED ENERGY SERVICES.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 115,977 ACTIVE SERVICES AT YEAR END.

As filed on the 2022 return.

Listed in Part VII

  • Leslie Falks

    DIRECTOR

    Total calculated
    $39,240
    From this org
    $39,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

  • Richard Sitman

    DIRECTOR

    Total calculated
    $38,190
    From this org
    $38,190
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Daniel Berthelot

    PRESIDENT

    Total calculated
    $37,440
    From this org
    $37,440
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • Randy Lorio

    VICE PRESIDENT

    Total calculated
    $35,665
    From this org
    $35,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Steve Irving

    DIRECTOR

    Total calculated
    $34,015
    From this org
    $34,015
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Edward Delee

    DIRECTOR

    Total calculated
    $33,865
    From this org
    $33,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Jill McGraw

    DIRECTOR

    Total calculated
    $29,531
    From this org
    $29,531
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

  • Tresa Byrd

    DIRECTOR

    Total calculated
    $20,592
    From this org
    $20,592
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Elinda Taillon

    DIRECTOR

    Total calculated
    $20,042
    From this org
    $20,042
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Dennis Lott

    SECRETARY/TREASURER

    Total calculated
    $16,426
    From this org
    $16,426
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Kevin Beachamp

    DIRECTOR

    Total calculated
    $16,096
    From this org
    $16,096
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.2

  • Melissa Dufreche

    DIRECTOR

    Total calculated
    $11,655
    From this org
    $11,655
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Mike Anderson

    DIRECTOR

    Total calculated
    $9,525
    From this org
    $9,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.4

  • Randall Pierce

    CEO & GENERAL MANAGER

    Total calculated
    $561,465
    From this org
    $388,806
    From related orgs
    $0
    Other
    $172,659
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $347,366
    Bonus
    $12,603
    Other
    $28,837
    Deferred
    $172,435
    Nontaxable benefits
    $224
    Filer's total
    $561,465

  • Peggy Maranan

    CFO

    Total calculated
    $262,061
    From this org
    $183,681
    From related orgs
    $0
    Other
    $78,380
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $178,077
    Bonus
    $456
    Other
    $5,148
    Deferred
    $65,219
    Nontaxable benefits
    $13,161
    Filer's total
    $262,061

  • Mark Phillips

    VP ENGINEERING & OPERATIONS

    Total calculated
    $305,188
    From this org
    $158,863
    From related orgs
    $0
    Other
    $146,325
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $148,598
    Bonus
    $529
    Other
    $9,736
    Deferred
    $121,211
    Nontaxable benefits
    $25,114
    Filer's total
    $305,188

  • Matt Gibson

    DIRECTOR OF ENGINEERING

    Total calculated
    $223,700
    From this org
    $154,070
    From related orgs
    $0
    Other
    $69,630
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,953
    Bonus
    $513
    Other
    $604
    Deferred
    $44,740
    Nontaxable benefits
    $24,890
    Filer's total
    $223,700

  • Pearl Overhultz

    CHIEF CS

    Total calculated
    $344,761
    From this org
    $145,053
    From related orgs
    $0
    Other
    $199,708
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,538
    Bonus
    $528
    Other
    $987
    Deferred
    $170,594
    Nontaxable benefits
    $29,114
    Filer's total
    $344,761

  • Patrick Mansfield

    IT MANAGER

    Total calculated
    $237,449
    From this org
    $143,866
    From related orgs
    $0
    Other
    $93,583
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,799
    Bonus
    $564
    Other
    $4,503
    Deferred
    $63,269
    Nontaxable benefits
    $30,314
    Filer's total
    $237,449

  • Kenneth Bailey

    FIELD STAKING TECHNICIAN

    Total calculated
    $211,869
    From this org
    $141,335
    From related orgs
    $0
    Other
    $70,534
    Hours/week
    57

    Schedule J breakdown matched by us

    Base
    $135,169
    Bonus
    $658
    Other
    $5,508
    Deferred
    $44,670
    Nontaxable benefits
    $25,864
    Filer's total
    $211,869

  • Veronica Claiborne

    KEY ACCOUNT MANAGER

    Total calculated
    $203,051
    From this org
    $141,029
    From related orgs
    $0
    Other
    $62,022
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $79,496
    Bonus
    $480
    Other
    $61,053
    Deferred
    $61,035
    Nontaxable benefits
    $987
    Filer's total
    $203,051

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 · Independent compensation consultant
  • 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

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. RANDALL PIERCE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 163,285 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,150 TOTAL REPORTED IN COLUMN C $ 172,435 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (163,285) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 81,801 EXPENSE TO THE COOPERATIVE $ 90,951 PEARL OVERHULTZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 166,018 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,576 TOTAL REPORTED IN COLUMN C $ 170,594 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (166,018) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,279 EXPENSE TO THE COOPERATIVE $ 43,855 MARK PHILLIPS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 116,593 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,618 TOTAL REPORTED IN COLUMN C $ 121,211 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (116,593) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,643 EXPENSE TO THE COOPERATIVE $ 44,261 PEGGY MARANAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,787 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,432 TOTAL REPORTED IN COLUMN C $ 65,219 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,787) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 46,935 EXPENSE TO THE COOPERATIVE $ 52,367 PATRICK MANSFIELD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,774 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,495 TOTAL REPORTED IN COLUMN C $ 63,269 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,774) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,366 EXPENSE TO THE COOPERATIVE $ 43,861 MATT GIBSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 40,313 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,427 TOTAL REPORTED IN COLUMN C $ 44,740 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,313) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,775 EXPENSE TO THE COOPERATIVE $ 43,202 KENNETH BAILEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,022 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,648 TOTAL REPORTED IN COLUMN C $ 44,670 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,022) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,686 EXPENSE TO THE COOPERATIVE $ 21,334 VERONICA CLAIBORNE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,635 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,400 TOTAL REPORTED IN COLUMN C $ 61,035 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,635) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,550 EXPENSE TO THE COOPERATIVE $ 22,950

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

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.

  • DIXIE BUSINESS DEVELOPMENT CENTER

    501(C)(4) · INCUBATOR PROGRAM TO HELP NEW BUSINESS DEVELOP, GROW, AND SUCCEED · LA · controlled entity

    Directly controlled by DIXIE ELECTRIC MEMBERSHIP CORPORATION

  • DEMCO FOUNDATION INC

    501(C)(3) · PROVIDES CHARITABLE ASSISTANCE TO INDIVIDUALS IN THE DEMCO SERVICE AREA · LA · controlled entity

    Directly controlled by DIXIE ELECTRIC MEMBERSHIP CORPORATION

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.

Related corporations and trusts

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

  • DEMCO ENERGY SERVICES LLC

    C · PROVIDES SURGE PROTECTION SERVICES IN SOUTHEASTERN LA · LA · 100% owned · share of income $446,361 · share of assets $847,839 · controlled entity

    Directly controlled by DIXIE ELECTRIC MEMEBERSHIP CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349316952

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