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Nonprofiteer
← MISSISSIPPI COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by MISSISSIPPI COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$165,885,759
Total expenses
$169,927,509
Contributions and grants received
$0
Grants paid
$12,564
Program service revenue
$166,551,692
Investment income
$993,083
Other revenue
-$1,659,016
Total assets, end of year
$160,205,179
Total liabilities, end of year
$71,438,209
Net assets or fund balances, end of year
$88,766,970
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Sale of Electric Energy

    total $164,257,201 · related or exempt $164,257,201 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Patronage Capital

    total $2,294,491 · related or exempt $2,294,491 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $993,083 · related or exempt $0 · unrelated business $41,414 · excluded $951,669

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $1,155,065 · personal property $13,344

  • 6b · Less rental expenses

    real property $2,827,425 · personal property $0

  • 6c · Rental income or loss

    real property -$1,672,360 · personal property $13,344

  • 6d · Net rental income or loss

    total -$1,659,016 · related or exempt $0 · unrelated business -$1,672,360 · excluded $13,344

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,564

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $6,859,502

  • 5 · Compensation of officers, directors and key employees

    total $845,680

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,154,064

  • 8 · Pension plan contributions

    total $273,000

  • 9 · Other employee benefits

    total $36,305

  • 10 · Payroll taxes

    total $140,110

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $128,487

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $238,363

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $210,472

  • 14 · Information technology

    total $169,608

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $3,076

  • 20 · Interest

    total $1,695,473

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $2,416,777

  • 23 · Insurance

    total $3,369

  • 24a · Other expenses: COST OF POWER

    total $153,745,991

  • 24b · Other expenses: DIST. EXPENSE - MAINTENANCE

    total $1,152,444

  • 24c · Other expenses: DIST. EXPENSE - OPERATION

    total $400,570

  • 24d · Other expenses: CUSTOMER ACCOUNTS EXPENSE

    total $348,052

  • 24e · All other expenses

    total $93,602

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,631,526 · end of year $1,791,848

  • 2 · Savings and temporary cash investments

    beginning of year $4,191,758 · end of year $4,107,241

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $27,485,257 · end of year $21,451,695

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,100,000 · end of year $950,000

  • 8 · Inventories for sale or use

    beginning of year $3,138,936 · end of year $2,067,522

  • 9 · Prepaid expenses and deferred charges

    beginning of year $124,466 · end of year $137,026

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

    $112,186,462

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

    $20,017,583

  • 10c · Land, buildings and equipment, net

    beginning of year $84,335,681 · end of year $92,168,879

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $36,976,923 · end of year $37,530,968

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,782,679 · end of year $15,560,596

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $44,805,080 · end of year $49,161,156

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,414,833 · end of year $6,716,457

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 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 $85,981,955 · end of year $88,766,970

Mission and programs · 2023

Mission

TO PROVIDE ELECTRIC UTILITY SERVICE TO THE COOPERATIVE'S 2,893 MEMBERS AND ANY POTENTIAL MEMBERS WITHIN THE COOPERATIVE'S ALLOCATED TERRITORY.

Activities or mission (Part I)

IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS BY PROVIDING SAFE, RELIABLE, AND AFFORDABLE ELECTRICITY.

  • PROVIDED 3,330,946,348 KWH to 4,908 ACCOUNTS.

As filed on the 2023 return.

Listed in Part VII

  • David Wildy

    Vice-Chairman

    Total calculated
    $25,340
    From this org
    $20,540
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    10.3 + 5 related

  • Diana Holmes

    Secretary/Treasurer

    Total calculated
    $26,511
    From this org
    $21,711
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    10.3 + 5 related

  • Neil Burge

    Chairman

    Total calculated
    $24,480
    From this org
    $19,680
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    10.3 + 5 related

  • Charles Brown

    Director

    Total calculated
    $24,940
    From this org
    $20,140
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    10.3 + 5 related

  • Robert L Davis

    Director

    Total calculated
    $24,540
    From this org
    $19,740
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    10.3 + 5 related

  • Brad Harrison

    President/CEO

    Total calculated
    $497,709
    From this org
    $333,727
    From related orgs
    $0
    Other
    $163,982
    Hours/week
    35 + 15 related

    Schedule J breakdown matched by us

    Base
    $315,601
    Bonus
    $5,000
    Other
    $13,126
    Deferred
    $135,842
    Nontaxable benefits
    $28,140
    Filer's total
    $497,709

  • Brandon Jenkins

    VP Finance & Administration

    Total calculated
    $246,160
    From this org
    $156,286
    From related orgs
    $0
    Other
    $89,874
    Hours/week
    35 + 15 related

    Schedule J breakdown matched by us

    Base
    $143,746
    Bonus
    $5,000
    Other
    $7,540
    Deferred
    $63,311
    Nontaxable benefits
    $26,563
    Filer's total
    $246,160

  • Justin Knight

    Journeyman Lineman

    Total calculated
    $147,249
    From this org
    $113,277
    From related orgs
    $0
    Other
    $33,972
    Hours/week
    45

  • Kody Gallant

    Fiber Services Supervisor

    Total calculated
    $198,002
    From this org
    $127,144
    From related orgs
    $0
    Other
    $70,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,251
    Bonus
    $5,000
    Other
    $3,893
    Deferred
    $54,320
    Nontaxable benefits
    $16,538
    Filer's total
    $198,002

  • Leon Tye

    Construction Supervisor

    Total calculated
    $185,255
    From this org
    $113,616
    From related orgs
    $0
    Other
    $71,639
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $109,810
    Bonus
    $3,018
    Other
    $788
    Deferred
    $48,028
    Nontaxable benefits
    $23,611
    Filer's total
    $185,255

  • Matthew Pay

    Journeyman Lineman

    Total calculated
    $143,076
    From this org
    $103,478
    From related orgs
    $0
    Other
    $39,598
    Hours/week
    44

  • Tommy Jones

    Operations Supervisor

    Total calculated
    $181,448
    From this org
    $116,327
    From related orgs
    $0
    Other
    $65,121
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $111,661
    Bonus
    $3,139
    Other
    $1,527
    Deferred
    $50,012
    Nontaxable benefits
    $15,109
    Filer's total
    $181,448

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

  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Health or social club dues or initiation fees
BRAD HARRISON, PRESIDENT/CEO WAS REIMBURSED FOR ANNUAL MEMBERSHIP DUES TO BLYTHEVILLE COUNTRY CLUB. THE COMPENSATION WAS TAXABLE.

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.

  • MCEC FIBER INC

    C Corporation · INTERNET/PHONE · AR · 100% owned · share of income $2,633,473 · share of assets $6,065,692 · controlled entity

    Directly controlled by MCEC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349307618

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