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Nonprofiteer
← TISHOMINGO CO ELECTRIC POWER ASSN

Form 990 for tax year 2023

Filed by TISHOMINGO CO ELECTRIC POWER ASSN.

Totals

Total revenue
$15,508,196
Total expenses
$9,503,910
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$1,442,505
Other revenue
$14,065,691
Total assets, end of year
$66,928,311
Total liabilities, end of year
$22,951,391
Net assets or fund balances, end of year
$43,976,920
Program services expenses (Part IX)
$9,503,910
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$9,503,910

Program services were 100.0% 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.

  • 3 · Investment income

    total $1,442,505 · related or exempt $1,397,623 · unrelated business $44,882

  • 6a · Gross rents

    real property $1,456,884 · personal property $1,553,795

  • 6c · Rental income or loss

    real property $1,456,884 · personal property $1,553,795

  • 6d · Net rental income or loss

    total $3,010,679 · unrelated business $1,456,884 · excluded $1,553,795

  • 10a · Gross sales of inventory

    $39,283,803

  • 10b · Cost of goods sold

    $28,228,791

  • 10c · Net income from sales of inventory

    total $11,055,012 · related or exempt $11,055,012

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $725,182 · program services $725,182

  • 7 · Other salaries and wages

    total $2,584,417 · program services $2,584,417

  • 9 · Other employee benefits

    total $187,342 · program services $187,342

  • 11b · Fees: legal

    total $5,715 · program services $5,715

  • 11c · Fees: accounting

    total $36,813 · program services $36,813

  • 13 · Office expenses

    total $127,544 · program services $127,544

  • 20 · Interest

    total $480,693 · program services $480,693

  • 22 · Depreciation, depletion and amortization

    total $2,994,803 · program services $2,994,803

  • 24a · Other expenses: MAINTENANCE-DISTRIBUTION

    total $730,581 · program services $730,581

  • 24b · Other expenses: DISTRIBUTION EXPENSE-OPER

    total $720,232 · program services $720,232

  • 24c · Other expenses: CUSTOMER ACCOUNTS EXPENSE

    total $571,883 · program services $571,883

  • 24d · Other expenses: MUNICIPAL FRANCHISE TAX

    total $212,075 · program services $212,075

  • 24e · All other expenses

    total $126,630 · program services $126,630

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,050,728 · end of year $8,379,224

  • 4 · Accounts receivable

    beginning of year $6,235,876 · end of year $4,162,006

  • 7 · Other notes and loans receivable

    beginning of year $65,453 · end of year $14,696

  • 8 · Inventories for sale or use

    beginning of year $985,804 · end of year $1,997,238

  • 9 · Prepaid expenses and deferred charges

    beginning of year $274,606 · end of year $333,990

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

    $82,779,600

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

    $40,591,758

  • 10c · Land, buildings and equipment, net

    beginning of year $42,369,404 · end of year $42,187,842

  • 15 · Other assets

    beginning of year $6,948,251 · end of year $9,853,315

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,373,409 · end of year $3,280,186

  • 19 · Deferred revenue

    beginning of year $70,610 · end of year $16,836

  • 23 · Secured mortgages and notes payable

    beginning of year $16,762,369 · end of year $15,829,105

  • 25 · Other liabilities

    beginning of year $3,395,729 · end of year $3,825,264

  • 31 · Retained earnings, endowment or other funds

    beginning of year $38,328,005 · end of year $43,976,920

Mission and programs · 2023

Mission

SALE AND DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

  • OPERATIONS OF ELECTRIC DISTRIBUTION COOPERATIVE

    Expenses $9,503,910

  • OPERATIONS OF ELECTRIC DISTRIBUTION COOPERATIVE

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gerald Barnes

    MEMBER

    Total calculated
    $460
    From this org
    $460
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jimmy Hughes

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Janie Cummings

    VICE PRES

    Total calculated
    $4,930
    From this org
    $4,930
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ricky Davis

    SEC/TREASURE

    Total calculated
    $5,250
    From this org
    $5,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeff Holt

    PRESIDENT

    Total calculated
    $5,530
    From this org
    $5,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brett Malone

    MEMBER

    Total calculated
    $445
    From this org
    $445
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Ratliff

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Colton Sims

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Harold Turner

    MEMBER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John Castleberry

    MEMBER

    Total calculated
    $400
    From this org
    $400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeff Butler

    MEMBER

    Total calculated
    $4,930
    From this org
    $4,930
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Josh Clark

    MEMBER

    Total calculated
    $4,930
    From this org
    $4,930
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Erik McDonald

    MEMBER

    Total calculated
    $4,930
    From this org
    $4,930
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Cody Durham

    CEO

    Total calculated
    $165,101
    From this org
    $165,101
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,101
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $165,101

  • Mack Phifer

    MEMBER

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • James McDeavitt

    MEMBER

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ray Flanagan

    MEMBER

    Total calculated
    $4,530
    From this org
    $4,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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

None.

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.

Related corporations and trusts

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

  • TISHOMINGO CONNECT LLC

    BROADBAND · MS

Provenance

Return type
form_990
Tax year
2023
Filed
21 January 2025
IRS schema version
2023v6.0
Source object
202530239349300028

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