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Nonprofiteer
← NATCHEZ TRACE ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2022

Filed by NATCHEZ TRACE ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$42,385,821
Total expenses
$40,623,381
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$42,066,679
Investment income
$319,142
Other revenue
$0
Total assets, end of year
$114,135,871
Total liabilities, end of year
$49,275,272
Net assets or fund balances, end of year
$64,860,599
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$40,623,381

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: Electricity Sales

    total $38,433,135 · related or exempt $38,433,135

  • 2b · Program service revenue: Other Income

    total $1,665,785 · related or exempt $98,098 · unrelated business $1,567,687

  • 2c · Program service revenue: Pole Attachments

    total $1,259,381 · excluded $1,259,381

  • 2d · Program service revenue: Penalties

    total $244,313 · related or exempt $244,313

  • 2e · Program service revenue: CIAC

    total $235,531 · related or exempt $235,531

  • 2f · All other program service revenue

    total $228,534 · related or exempt $228,534

  • 3 · Investment income

    total $319,142 · unrelated business $70,210 · excluded $248,932

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $425,749

  • 20 · Interest

    total $1,611,188

  • 22 · Depreciation, depletion and amortization

    total $4,037,646

  • 24a · Other expenses: Purchased Power

    total $28,229,904

  • 24b · Other expenses: Matintenance Expense

    total $2,862,675

  • 24c · Other expenses: Distribution Expense

    total $1,342,077

  • 24d · Other expenses: Customer Accounts

    total $1,045,045

  • 24e · All other expenses

    total $1,069,097

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,192,162 · end of year $1,975,651

  • 4 · Accounts receivable

    beginning of year $4,928,694 · end of year $4,224,421

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,510,578 · end of year $3,148,870

  • 8 · Inventories for sale or use

    beginning of year $1,253,698 · end of year $1,021,976

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,806,562 · end of year $6,489,260

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

    $141,784,078

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

    $43,365,728

  • 10c · Land, buildings and equipment, net

    beginning of year $89,547,086 · end of year $98,418,350

  • 13 · Investments: program-related

    beginning of year -$1,260,837 · end of year -$1,160,267

  • 15 · Other assets

    beginning of year $17,525 · end of year $17,610

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,437,746 · end of year $3,974,625

  • 19 · Deferred revenue

    beginning of year $36,853 · end of year $58,966

  • 23 · Secured mortgages and notes payable

    beginning of year $32,501,926 · end of year $41,598,198

  • 25 · Other liabilities

    beginning of year $3,670,952 · end of year $3,643,483

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $63,347,991 · end of year $64,860,599

Mission and programs · 2022

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)

Electric Power Distributor

  • To provide electricity and related services to approximately 11,800 members residing within its service area.

    Expenses $40,623,381 · Revenue $39,239,611

As filed on the 2022 return.

Listed in Part VII

  • Jimmy Ball

    Vice President

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Danny Ellison

    Director

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Sheila Freely

    Director

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Robert Harrington

    Director

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joe Hays

    Secretary

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenneth Linton

    Director

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael Wade

    Director

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Terry Wills

    President

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Earline Wilson

    Director

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Shawn Edmondson

    General Manager

    Total calculated
    $194,044
    From this org
    $153,194
    From related orgs
    $0
    Other
    $40,850
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $153,194
    Bonus
    $0
    Other
    $0
    Deferred
    $26,943
    Nontaxable benefits
    $13,907
    Filer's total
    $194,044

  • Miller Dendy

    CFO

    Total calculated
    $145,705
    From this org
    $111,296
    From related orgs
    $0
    Other
    $34,409
    Hours/week
    55

  • Matt Hodges

    System Engineer

    Total calculated
    $131,975
    From this org
    $101,934
    From related orgs
    $0
    Other
    $30,041
    Hours/week
    50

  • Daryl Love

    District Manager

    Total calculated
    $131,671
    From this org
    $100,360
    From related orgs
    $0
    Other
    $31,311
    Hours/week
    50

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 $5,109,944 · share of assets $1,203,381 · controlled entity

    Directly controlled by Natchez Trace Electric Power Association

Provenance

Return type
form_990
Tax year
2022
Filed
30 April 2024
IRS schema version
2022v5.0
Source object
202401229349302500

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