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Nonprofiteer
← PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2022

Filed by PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$139,698,915
Total expenses
$139,467,817
Contributions and grants received
$2,146,815
Grants paid
$22,200
Program service revenue
$137,408,177
Investment income
$143,923
Other revenue
$0
Total assets, end of year
$322,492,209
Total liabilities, end of year
$188,833,259
Net assets or fund balances, end of year
$133,658,950
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$139,467,817

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)

    $2,146,815

  • 2a · Program service revenue: ELECTRIC SALES

    total $132,035,967 · related or exempt $132,035,967

  • 2b · Program service revenue: PATRONAGE CREDITS

    total $3,400,808 · related or exempt $3,400,808

  • 2c · Program service revenue: COMMON USE POLE RENTAL

    total $1,208,921 · related or exempt $1,208,921

  • 2d · Program service revenue: TELECOM REVENUE

    total $762,481 · unrelated business $762,481

  • 3 · Investment income

    total $41,762 · excluded $41,762

  • 7a · Gross sales of assets other than inventory

    other assets $109,130

  • 7b · Less cost or other basis and sales expenses

    other assets $6,969

  • 7c · Gain or loss

    other assets $102,161

  • 7d · Net gain or loss

    total $102,161 · related or exempt $102,161

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $22,200

  • 4 · Benefits paid to or for members

    total $7,363,416

  • 5 · Compensation of officers, directors and key employees

    total $902,944

  • 7 · Other salaries and wages

    total $4,748,886

  • 8 · Pension plan contributions

    total $2,960,681

  • 9 · Other employee benefits

    total $4,014,634

  • 10 · Payroll taxes

    total $586,663

  • 11b · Fees: legal

    total $44,484

  • 11c · Fees: accounting

    total $122,753

  • 13 · Office expenses

    total $985,146

  • 17 · Travel

    total $126,972

  • 20 · Interest

    total $5,222,805

  • 22 · Depreciation, depletion and amortization

    total $7,768,938

  • 24a · Other expenses: COST OF POWER

    total $91,789,333

  • 24b · Other expenses: DISTRIBUTION- MAINTENAN

    total $7,504,023

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $1,750,750

  • 24d · Other expenses: CONSUMER ACCOUNTS EXPEN

    total $1,268,581

  • 24e · All other expenses

    total $2,284,608

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,711,454 · end of year $591,357

  • 4 · Accounts receivable

    beginning of year $10,912,015 · end of year $11,378,314

  • 8 · Inventories for sale or use

    beginning of year $7,591,590 · end of year $17,257,657

  • 9 · Prepaid expenses and deferred charges

    beginning of year $289,492 · end of year $353,407

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

    $337,187,116

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

    $106,664,098

  • 10c · Land, buildings and equipment, net

    beginning of year $192,685,697 · end of year $230,523,018

  • 15 · Other assets

    beginning of year $61,149,565 · end of year $62,388,456

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,720,998 · end of year $17,443,411

  • 19 · Deferred revenue

    beginning of year $2,775,417 · end of year $900,000

  • 23 · Secured mortgages and notes payable

    beginning of year $118,042,911 · end of year $148,873,609

  • 25 · Other liabilities

    beginning of year $38,092,614 · end of year $21,616,239

  • 29 · Capital stock, trust principal or current funds

    beginning of year $314,470 · end of year $312,710

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

    beginning of year $608,062 · end of year $608,062

  • 31 · Retained earnings, endowment or other funds

    beginning of year $109,785,341 · end of year $132,738,178

Mission and programs · 2022

Mission

THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CONSUMERS.

Activities or mission (Part I)

THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CUSTOMERS.

  • PRVEPA PROVIDED ELECTRIC POWER TO 52,678 CONSUMERS DURING 2022.

    Expenses $139,467,817 · Revenue $136,747,857

As filed on the 2022 return.

Listed in Part VII

  • Wa Kendrick

    SECRETARY/TREASURER

    Total calculated
    $28,526
    From this org
    $28,526
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.52

  • Lavell Bond

    VICE PRESIDENT

    Total calculated
    $29,519
    From this org
    $29,519
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.23

  • Bf Hudson Jr

    DIRECTOR

    Total calculated
    $28,246
    From this org
    $28,246
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.98

  • Hugh Gene Smith

    DIRECTOR

    Total calculated
    $28,204
    From this org
    $28,204
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.9

  • Danny Wilks

    PRESIDENT

    Total calculated
    $29,100
    From this org
    $29,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.83

  • Leslie Peters

    DIRECTOR

    Total calculated
    $23,094
    From this org
    $23,094
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.87

  • Jack Bradshaw

    DIRECTOR

    Total calculated
    $27,934
    From this org
    $27,934
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Matt Thomas

    DIRECTOR

    Total calculated
    $25,890
    From this org
    $25,890
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.75

  • Davis Wingo

    DIRECTOR

    Total calculated
    $29,014
    From this org
    $29,014
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.37

  • Jeff Tinnon

    DIRECTOR

    Total calculated
    $25,351
    From this org
    $25,351
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.92

  • Matthew Ware

    CEO/GENERAL MANAGER

    Total calculated
    $385,797
    From this org
    $331,043
    From related orgs
    $0
    Other
    $54,754
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $331,043
    Bonus
    $0
    Other
    $0
    Deferred
    $38,464
    Nontaxable benefits
    $16,290
    Filer's total
    $385,797

  • Jody Thornton

    CHIEF FINANCIAL OFFICER

    Total calculated
    $180,364
    From this org
    $153,310
    From related orgs
    $0
    Other
    $27,054
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,310
    Bonus
    $0
    Other
    $0
    Deferred
    $16,989
    Nontaxable benefits
    $10,065
    Filer's total
    $180,364

  • Erik Lavine

    MANAGER, ENGINEERING & OPE

    Total calculated
    $195,659
    From this org
    $163,041
    From related orgs
    $0
    Other
    $32,618
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,041
    Bonus
    $0
    Other
    $0
    Deferred
    $16,328
    Nontaxable benefits
    $16,290
    Filer's total
    $195,659

  • Anthony Harris

    MANAGER, ECON DEV & COMM R

    Total calculated
    $207,633
    From this org
    $168,507
    From related orgs
    $0
    Other
    $39,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,507
    Bonus
    $0
    Other
    $0
    Deferred
    $22,836
    Nontaxable benefits
    $16,290
    Filer's total
    $207,633

  • George Cutrer

    DISTRICT MANAGER

    Total calculated
    $202,108
    From this org
    $167,640
    From related orgs
    $0
    Other
    $34,468
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,640
    Bonus
    $0
    Other
    $0
    Deferred
    $18,178
    Nontaxable benefits
    $16,290
    Filer's total
    $202,108

  • William McCrary

    DISTRICT MANAGER

    Total calculated
    $190,396
    From this org
    $158,246
    From related orgs
    $0
    Other
    $32,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,246
    Bonus
    $0
    Other
    $0
    Deferred
    $15,860
    Nontaxable benefits
    $16,290
    Filer's total
    $190,396

  • James Armstrong

    MANAGER, PURCHASING & FACI

    Total calculated
    $182,979
    From this org
    $149,818
    From related orgs
    $0
    Other
    $33,161
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,818
    Bonus
    $0
    Other
    $0
    Deferred
    $16,871
    Nontaxable benefits
    $16,290
    Filer's total
    $182,979

  • Jeffrey Sloan

    IT MANAGER

    Total calculated
    $171,387
    From this org
    $146,117
    From related orgs
    $0
    Other
    $25,270
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,117
    Bonus
    $0
    Other
    $0
    Deferred
    $12,716
    Nontaxable benefits
    $12,554
    Filer's total
    $171,387

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 · 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

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.

  • PEARL RIVER VALLEY COMMUNICATIONS LLC

    TELECOMMUNICATIONS · MS · income $2,909,296 · assets $3,102,151

    Directly controlled by PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343199349303364

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