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Nonprofiteer
← MITCHELL ELECTRIC MEMBERSHIP

Form 990 for tax year 2023

Filed by MITCHELL ELECTRIC MEMBERSHIP.

Totals

Total revenue
$70,086,684
Total expenses
$70,086,684
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$69,885,751
Investment income
$44,609
Other revenue
$156,324
Total assets, end of year
$222,612,781
Total liabilities, end of year
$122,458,575
Net assets or fund balances, end of year
$100,154,206
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $66,345,595 · related or exempt $66,345,595

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $1,312,980 · related or exempt $1,312,980

  • 2c · Program service revenue: G & T CAPITAL CREDITS

    total $1,265,425 · related or exempt $1,265,425

  • 2d · Program service revenue: POLE RENTAL

    total $961,751 · excluded $961,751

  • 3 · Investment income

    total $44,609 · excluded $44,609

  • 11a · Other revenue: INTERNET REVENUE

    total $444,357 · related or exempt $444,357

  • 11b · Other revenue: UNREALIZED GAIN OR LOSS

    total $89,747 · related or exempt $89,747

  • 11c · Other revenue: FIBER REVENUE

    total $66,577 · related or exempt $66,577

  • 11d · All other revenue

    total -$444,357 · related or exempt -$444,357

  • 11e · Other revenue, total

    $156,324

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,933,284

  • 5 · Compensation of officers, directors and key employees

    total $717,061

  • 13 · Office expenses

    total $898,252

  • 20 · Interest

    total $3,462,554

  • 22 · Depreciation, depletion and amortization

    total $5,260,074

  • 24a · Other expenses: PURCHASED POWER

    total $31,913,625

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $6,735,074

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $4,699,770

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $2,861,456

  • 24e · All other expenses

    total $5,605,534

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,626,237 · end of year $1,823,661

  • 4 · Accounts receivable

    beginning of year $7,165,287 · end of year $6,879,522

  • 8 · Inventories for sale or use

    beginning of year $4,447,174 · end of year $11,999,445

  • 9 · Prepaid expenses and deferred charges

    beginning of year $200,415 · end of year $183,107

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

    $213,272,216

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

    $46,316,116

  • 10c · Land, buildings and equipment, net

    beginning of year $150,928,581 · end of year $166,956,100

  • 13 · Investments: program-related

    beginning of year $31,955,932 · end of year $34,294,758

  • 15 · Other assets

    beginning of year $375,801 · end of year $476,188

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,727,841 · end of year $12,634,436

  • 23 · Secured mortgages and notes payable

    beginning of year $73,037,463 · end of year $89,015,741

  • 25 · Other liabilities

    beginning of year $21,136,288 · end of year $20,808,398

  • 31 · Retained earnings, endowment or other funds

    beginning of year $93,797,835 · end of year $100,154,206

Mission and programs · 2023

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OR SERVICE.

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • W Lucius Adkins Jr

    CHAIRMAN

    Total calculated
    $24,623
    From this org
    $24,623
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.8

  • John B Johnson Sr

    VICE CHAIRMA

    Total calculated
    $24,417
    From this org
    $24,417
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Doyle M Medders

    SEC-TREAS

    Total calculated
    $24,791
    From this org
    $24,791
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.8

  • T Ralph Davis Jr

    DIRECTOR

    Total calculated
    $25,436
    From this org
    $25,436
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Max R Lewis Jr

    DIRECTOR

    Total calculated
    $24,759
    From this org
    $24,759
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.5

  • Billy Senkbeil

    DIRECTOR

    Total calculated
    $26,211
    From this org
    $26,211
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Johnny Cochran

    DIRECTOR

    Total calculated
    $24,759
    From this org
    $24,759
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Joseph E Rackley IV

    DIRECTOR

    Total calculated
    $25,259
    From this org
    $25,259
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Larry Glow

    DIRECTOR

    Total calculated
    $24,759
    From this org
    $24,759
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Tony F Tucker

    PRESIDENT &

    Total calculated
    $492,047
    From this org
    $301,196
    From related orgs
    $0
    Other
    $190,851
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $268,916
    Bonus
    $3,072
    Other
    $29,208
    Deferred
    $143,034
    Nontaxable benefits
    $47,817
    Filer's total
    $492,047

  • Sarah E Worthy

    VP FIN & ACC

    Total calculated
    $287,231
    From this org
    $197,886
    From related orgs
    $0
    Other
    $89,345
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,762
    Bonus
    $3,044
    Other
    $8,080
    Deferred
    $73,462
    Nontaxable benefits
    $15,883
    Filer's total
    $287,231

  • Otis Johnson

    CONSTRUCTION

    Total calculated
    $281,630
    From this org
    $199,821
    From related orgs
    $0
    Other
    $81,809
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,580
    Bonus
    $3,044
    Other
    $13,197
    Deferred
    $36,939
    Nontaxable benefits
    $44,870
    Filer's total
    $281,630

  • Chad Carden

    VP OF CUSTOM

    Total calculated
    $271,601
    From this org
    $179,992
    From related orgs
    $0
    Other
    $91,609
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,865
    Bonus
    $3,249
    Other
    $878
    Deferred
    $49,803
    Nontaxable benefits
    $41,806
    Filer's total
    $271,601

  • James Clifton

    VP OF ENGINE

    Total calculated
    $275,491
    From this org
    $187,163
    From related orgs
    $0
    Other
    $88,328
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,341
    Bonus
    $3,249
    Other
    $9,573
    Deferred
    $58,803
    Nontaxable benefits
    $29,525
    Filer's total
    $275,491

  • Derek J Jennings

    VP OF TECH S

    Total calculated
    $265,407
    From this org
    $179,998
    From related orgs
    $0
    Other
    $85,409
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,175
    Bonus
    $3,898
    Other
    $6,925
    Deferred
    $45,714
    Nontaxable benefits
    $39,695
    Filer's total
    $265,407

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 · Form 990 of other organizations
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 October 2024
IRS schema version
2023v5.0
Source object
202403039349301880

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