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← DIXIE ELECTRIC POWER ASSN

Form 990 for tax year 2023

Filed by DIXIE ELECTRIC POWER ASSN.

Totals

Total revenue
$128,490,396
Total expenses
$131,123,668
Contributions and grants received
$0
Grants paid
$37,320
Program service revenue
$122,382,878
Investment income
$836,990
Other revenue
$5,270,528
Total assets, end of year
$349,976,068
Total liabilities, end of year
$234,911,762
Net assets or fund balances, end of year
$115,064,306
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$131,123,668

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: SALE OF ELECTRICITY

    total $101,159,342 · related or exempt $101,159,342

  • 2b · Program service revenue: DE FASTLINK LLC

    total $14,162,974 · unrelated business $14,162,974

  • 2c · Program service revenue: FIBER LEASE

    total $5,072,484 · related or exempt $5,072,484

  • 2d · Program service revenue: PATRONAGE CAPITAL

    total $1,783,708 · related or exempt $1,783,708

  • 2e · Program service revenue: MEMBER FEES

    total $204,370 · related or exempt $204,370

  • 3 · Investment income

    total $428,490 · excluded $428,490

  • 6a · Gross rents

    real property $3,078,343

  • 6c · Rental income or loss

    real property $3,078,343

  • 6d · Net rental income or loss

    total $3,078,343 · related or exempt $3,078,343

  • 7a · Gross sales of assets other than inventory

    securities $408,500

  • 7c · Gain or loss

    securities $408,500

  • 7d · Net gain or loss

    total $408,500 · related or exempt $408,500

  • 11a · Other revenue: CAPITAL CREDITS FROM VENDORS

    total $2,192,185 · related or exempt $2,192,185

  • 11e · Other revenue, total

    $2,192,185

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $37,320

  • 4 · Benefits paid to or for members

    total $10,783,956

  • 7 · Other salaries and wages

    total $7,089,008

  • 8 · Pension plan contributions

    total $2,018,785

  • 9 · Other employee benefits

    total $2,330,169

  • 10 · Payroll taxes

    total $786,235

  • 11b · Fees: legal

    total $36,558

  • 11c · Fees: accounting

    total $51,904

  • 11g · Fees: other

    total $67,307

  • 12 · Advertising and promotion

    total $599,624

  • 13 · Office expenses

    total $1,062,690

  • 14 · Information technology

    total $811,319

  • 15 · Royalties

    total $66,166

  • 16 · Occupancy

    total $101,556

  • 17 · Travel

    total $93,889

  • 19 · Conferences, conventions and meetings

    total $48,645

  • 20 · Interest

    total $4,225,699

  • 22 · Depreciation, depletion and amortization

    total $12,317,755

  • 23 · Insurance

    total $239,956

  • 24a · Other expenses: COST OF ELECTRICITY

    total $70,556,472

  • 24b · Other expenses: DISTRIBUTION-MAINTENANCE

    total $6,016,840

  • 24c · Other expenses: FIBER LEASE

    total $5,074,484

  • 24d · Other expenses: OPERATING EXPENSES

    total $1,873,307

  • 24e · All other expenses

    total $4,834,024

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,340,554 · end of year $7,216,905

  • 4 · Accounts receivable

    beginning of year $6,372,189 · end of year $5,500,423

  • 8 · Inventories for sale or use

    beginning of year $27,835,898 · end of year $24,891,782

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,669,000 · end of year $9,383,277

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

    $331,510,363

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

    $77,001,359

  • 10c · Land, buildings and equipment, net

    beginning of year $231,425,251 · end of year $254,509,004

  • 15 · Other assets

    beginning of year $46,841,987 · end of year $48,474,677

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,174,939 · end of year $11,942,479

  • 23 · Secured mortgages and notes payable

    beginning of year $200,411,950 · end of year $215,886,644

  • 25 · Other liabilities

    beginning of year $7,363,421 · end of year $7,082,639

  • 31 · Retained earnings, endowment or other funds

    beginning of year $104,534,569 · end of year $115,064,306

Mission and programs · 2023

Mission

DIXIE ELECTRIC POWER ASSN. STRIVES TO: 1)PROVIDE AN EFFICIENT ELECTRICAL SYSTEM 2)SUPPORT THE COMMUNITY THROUGH LOCAL ACTIVITIES AND ENCOURAGE ECONOMIC GROWTH 3)OFFER A PRODUCTIVE WORK ENVIRONMENT FOR ITS EMPLOYEES 4)CONTINUE TO MEET THE EVER CHANGING NEEDS OF ITS MEMBERS THROUGH TECHNOLOGICAL ADVANCES.

  • RURAL ELECTRIC DISTRIBUTION COOPERATIVE THAT FURNISHED ELECTRIC SERVICE TO 46,961 ACCOUNTS AS OF 12/31/23

    Expenses $129,721,249 · Grants $37,320

  • RURAL ELECTRIC DISTRIBUTION COOPERATIVE THAT FURNISHED ELECTRIC SERVICE TO 46,961 ACCOUNTS AS OF 12/31/23

    Expenses $1,402,419

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

Listed in Part VII

  • Ralph R Smith

    GENERAL MANA

    Total calculated
    $522,468
    From this org
    $307,803
    From related orgs
    $0
    Other
    $214,665
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $307,803
    Bonus
    not reported
    Other
    not reported
    Deferred
    $195,483
    Nontaxable benefits
    $19,182
    Filer's total
    $522,468

  • Thomas McCarthy

    OPERATIONS M

    Total calculated
    $231,244
    From this org
    $174,453
    From related orgs
    $0
    Other
    $56,791
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,453
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,458
    Nontaxable benefits
    $14,333
    Filer's total
    $231,244

  • Aaron Zumwalt

    ADMIN & FINA

    Total calculated
    $227,584
    From this org
    $177,153
    From related orgs
    $0
    Other
    $50,431
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,153
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,249
    Nontaxable benefits
    $19,182
    Filer's total
    $227,584

  • Jeremy McAndrew

    SYSTEM ENGIN

    Total calculated
    $196,744
    From this org
    $154,645
    From related orgs
    $0
    Other
    $42,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,645
    Bonus
    not reported
    Other
    not reported
    Deferred
    $22,916
    Nontaxable benefits
    $19,183
    Filer's total
    $196,744

  • Floyd Herford

    SERVICEMAN

    Total calculated
    $195,226
    From this org
    $134,211
    From related orgs
    $0
    Other
    $61,015
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,211
    Bonus
    not reported
    Other
    not reported
    Deferred
    $54,764
    Nontaxable benefits
    $6,251
    Filer's total
    $195,226

  • James Grantham

    IT MANAGER

    Total calculated
    $184,351
    From this org
    $166,760
    From related orgs
    $0
    Other
    $17,591
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,760
    Bonus
    not reported
    Other
    not reported
    Deferred
    $3,258
    Nontaxable benefits
    $14,333
    Filer's total
    $184,351

  • Dale McKee

    DIRECTOR

    Total calculated
    $17,921
    From this org
    $17,921
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Robert Smith

    PRESIDENT

    Total calculated
    $17,801
    From this org
    $17,801
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Sears Ward

    ALT. SECRETA

    Total calculated
    $17,674
    From this org
    $17,674
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Allen Sledge

    VICE-PRESIDE

    Total calculated
    $16,767
    From this org
    $16,767
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Vickie Cooley

    DIRECTOR

    Total calculated
    $12,033
    From this org
    $12,033
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Linda Bonner

    SECRETARY-TR

    Total calculated
    $9,991
    From this org
    $9,991
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Stan Pickering

    DIRECTOR

    Total calculated
    $9,750
    From this org
    $9,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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 committee
  • 3 · Independent compensation consultant
  • 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

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.

  • DEFASTLINK LLC

    MS · income $12,020,782 · assets $19,279,612

Provenance

Return type
form_990
Tax year
2023
Filed
22 May 2024
IRS schema version
2023v5.0
Source object
202432419349300218

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