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Nonprofiteer
← NATCHEZ TRACE ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2023

Filed by NATCHEZ TRACE ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$42,913,936
Total expenses
$41,120,005
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$40,616,484
Investment income
$528,323
Other revenue
$1,769,129
Total assets, end of year
$115,745,416
Total liabilities, end of year
$46,956,655
Net assets or fund balances, end of year
$68,788,761
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 $37,909,206 · related or exempt $37,909,206

  • 2b · Program service revenue: LEASE AGREEMENT

    total $2,107,961 · unrelated business $2,107,961

  • 2c · Program service revenue: OTHER PROGRAM REVENUE

    total $268,497 · related or exempt $268,497

  • 2d · Program service revenue: SERVICE FEES

    total $237,804 · related or exempt $237,804

  • 2e · Program service revenue: PATRONAGE DIVIDENDS

    total $93,016 · related or exempt $93,016

  • 3 · Investment income

    total $528,323 · unrelated business $86,654 · excluded $441,669

  • 11a · Other revenue: POLE ATTACHMENT

    total $1,769,129 · excluded $1,769,129

  • 11e · Other revenue, total

    $1,769,129

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $483,418

  • 7 · Other salaries and wages

    total $3,127,557

  • 8 · Pension plan contributions

    total $469,330

  • 9 · Other employee benefits

    total $882,216

  • 10 · Payroll taxes

    total $278,938

  • 20 · Interest

    total $1,784,119

  • 22 · Depreciation, depletion and amortization

    total $4,580,908

  • 24a · Other expenses: PUCHASED POWER

    total $26,929,245

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $2,097,964

  • 24c · Other expenses: TAXES

    total $247,778

  • 24d · Other expenses: ADMIN & GENERAL EXPENSE

    total $157,636

  • 24e · All other expenses

    total $80,896

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,975,651 · end of year $707,922

  • 4 · Accounts receivable

    beginning of year $4,224,421 · end of year $6,888,339

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,148,870

  • 8 · Inventories for sale or use

    beginning of year $1,021,976 · end of year $1,074,289

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,489,260 · end of year $6,701,640

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

    $145,686,959

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

    $46,815,137

  • 10c · Land, buildings and equipment, net

    beginning of year $98,418,350 · end of year $98,871,822

  • 13 · Investments: program-related

    beginning of year -$1,160,267 · end of year $1,202,844

  • 15 · Other assets

    beginning of year $17,610 · end of year $298,560

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,974,625 · end of year $4,106,591

  • 19 · Deferred revenue

    beginning of year $58,966 · end of year $55,204

  • 23 · Secured mortgages and notes payable

    beginning of year $41,598,198 · end of year $39,200,383

  • 25 · Other liabilities

    beginning of year $3,643,483 · end of year $3,594,477

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $125,020

  • 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 $64,860,599 · end of year $68,663,741

Mission and programs · 2023

Mission

THE MISSION OF NATCHEZ TRACE ELECTRIC POWER ASSOCIATION SHALL BE TO PROVIDE HIGHLY RELIABLE ENERGY SERVICE TO ITS MEMBER-OWNERS AT THE LOWEST COST POSSIBLE, CONSISTENT WITH SOUND BUSINESS PRACTICES.

Activities or mission (Part I)

TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • SALE OF ELECTRIC POWER TO OUR MEMBERS AT COST ON COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 16,164 CONNECTED MEMBERS AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Kenneth Linton

    DIRECTOR

    Total calculated
    $10,725
    From this org
    $10,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mike Wade

    PRESIDENT

    Total calculated
    $12,425
    From this org
    $12,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jimmy Ball

    VICE PRESIDENT

    Total calculated
    $11,225
    From this org
    $11,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Earline Wilson

    DIRECTOR

    Total calculated
    $1,650
    From this org
    $1,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Terry Wills

    DIRECTOR

    Total calculated
    $10,725
    From this org
    $10,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Danny Ellison

    DIRECTOR

    Total calculated
    $11,225
    From this org
    $11,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Sheila Freely

    DIRECTOR

    Total calculated
    $11,725
    From this org
    $11,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jacqueline Strong

    DIRECTOR

    Total calculated
    $7,775
    From this org
    $7,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Robert Harrington

    DIRECTOR

    Total calculated
    $11,225
    From this org
    $11,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joe Hays

    DIRECTOR

    Total calculated
    $11,875
    From this org
    $11,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Shawn Edmondson

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $219,370
    From this org
    $179,663
    From related orgs
    $0
    Other
    $39,707
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $179,663
    Bonus
    $0
    Other
    $0
    Deferred
    $34,603
    Nontaxable benefits
    $5,104
    Filer's total
    $219,370

  • Miller Dendy

    CHIEF FINANCIAL OFFICER

    Total calculated
    $163,473
    From this org
    $129,779
    From related orgs
    $0
    Other
    $33,694
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $129,779
    Bonus
    $0
    Other
    $0
    Deferred
    $26,517
    Nontaxable benefits
    $7,177
    Filer's total
    $163,473

  • Matt Hodges

    SYSTEM ENGINEER

    Total calculated
    $137,078
    From this org
    $114,118
    From related orgs
    $0
    Other
    $22,960
    Hours/week
    55

  • Daryl Love

    DISTRICT MANAGER - CALHOUN CITY

    Total calculated
    $129,436
    From this org
    $107,277
    From related orgs
    $0
    Other
    $22,159
    Hours/week
    50

  • Brian Crump

    SAFETY DIRECTOR

    Total calculated
    $131,132
    From this org
    $103,910
    From related orgs
    $0
    Other
    $27,222
    Hours/week
    50

  • Craig McCluskey

    DISTRICT MANAGER - EUPHORA

    Total calculated
    $127,671
    From this org
    $102,444
    From related orgs
    $0
    Other
    $25,227
    Hours/week
    50

  • Thomas Whitten

    LINE FOREMAN

    Total calculated
    $117,808
    From this org
    $102,080
    From related orgs
    $0
    Other
    $15,728
    Hours/week
    55

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

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.

  • NT SPARK LLC

    C · ELECTRIC POWER DISTRIBUTOR · MS · 100% owned · share of income $6,435,138 · share of assets $1,322,811 · controlled entity

    Directly controlled by NATCHEZ TRACE ELECTRIC POWER ASSOCIATION

Provenance

Return type
form_990
Tax year
2023
Filed
2 May 2025
IRS schema version
2023v6.0
Source object
202521259349301967

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