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Nonprofiteer
← NORTH EAST MISSISSIPPI ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2023

Filed by NORTH EAST MISSISSIPPI ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$87,054,193
Total expenses
$84,504,122
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$79,236,447
Investment income
$255,216
Other revenue
$7,562,530
Total assets, end of year
$207,583,262
Total liabilities, end of year
$125,307,076
Net assets or fund balances, end of year
$82,276,186
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: ELECTRICITY SALES

    total $79,236,447 · related or exempt $79,236,447

  • 3 · Investment income

    total $290,870 · excluded $290,870

  • 6a · Gross rents

    personal property $1,845,156

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $1,845,156

  • 6d · Net rental income or loss

    total $1,845,156 · excluded $1,845,156

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

    securities $35,654

  • 7c · Gain or loss

    securities -$35,654

  • 7d · Net gain or loss

    total -$35,654 · excluded -$35,654

  • 11a · Other revenue: FIBER LEASE INCOME

    total $4,049,403 · unrelated business $4,049,403

  • 11b · Other revenue: MISC INCOME

    total $1,667,971 · related or exempt $1,667,971

  • 11e · Other revenue, total

    $5,717,374

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $4,301,751

  • 22 · Depreciation, depletion and amortization

    total $8,599,052

  • 24a · Other expenses: COST OF POWER

    total $57,950,566

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $3,971,562

  • 24c · Other expenses: GENERAL & ADMIN

    total $3,441,013

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $2,376,880

  • 24e · All other expenses

    total $3,863,298

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $835,720 · end of year $1,975,809

  • 4 · Accounts receivable

    beginning of year $8,050,739 · end of year $5,830,278

  • 8 · Inventories for sale or use

    beginning of year $2,727,568 · end of year $2,674,175

  • 9 · Prepaid expenses and deferred charges

    beginning of year $399,011 · end of year $201,729

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

    $248,727,734

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

    $75,479,551

  • 10c · Land, buildings and equipment, net

    beginning of year $163,751,439 · end of year $173,248,183

  • 11 · Investments: publicly traded securities

    beginning of year -$3,940,296

  • 13 · Investments: program-related

    end of year $646,592

  • 15 · Other assets

    beginning of year $26,348,329 · end of year $23,006,496

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,089,560 · end of year $1,649,899

  • 19 · Deferred revenue

    end of year $495,863

  • 23 · Secured mortgages and notes payable

    beginning of year $88,332,065 · end of year $96,892,073

  • 25 · Other liabilities

    beginning of year $17,603,405 · end of year $26,269,241

  • 29 · Capital stock, trust principal or current funds

    beginning of year $293,100 · end of year $346,387

  • 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 $78,854,380 · end of year $81,929,799

Mission and programs · 2023

Mission

TO PROVIDE ELECTRIC UTILITY SERVICES TO MEMBERS IN NORTH EAST MISSISSIPPI.

  • SERVE MEMBERS WITH ELECTRIC UTILITY

As filed on the 2023 return.

Listed in Part VII

  • John W Davis

    PRESIDENT

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • J R Gallagher

    SECRETARY/TREASURER

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • James Herod

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gene Hartley

    VICE PRESIDENT

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Billy R Brown

    DIRECTOR

    Total calculated
    $11,600
    From this org
    $11,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Danny Russell

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mickey Clayton

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • John Briscoe

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • James Downs

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Keith Hayward

    CEO

    Total calculated
    $535,433
    From this org
    $287,155
    From related orgs
    $0
    Other
    $248,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,155
    Bonus
    $0
    Other
    $0
    Deferred
    $223,231
    Nontaxable benefits
    $25,047
    Filer's total
    $535,433

  • Walker R Abel

    CEO - FIBER

    Total calculated
    $250,638
    From this org
    $173,940
    From related orgs
    $0
    Other
    $76,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,940
    Bonus
    $0
    Other
    $0
    Deferred
    $53,374
    Nontaxable benefits
    $23,324
    Filer's total
    $250,638

  • Aaron Burns

    SAFETY COODINATOR

    Total calculated
    $165,065
    From this org
    $125,813
    From related orgs
    $0
    Other
    $39,252
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,813
    Bonus
    $0
    Other
    $0
    Deferred
    $17,380
    Nontaxable benefits
    $21,872
    Filer's total
    $165,065

  • Jason Long

    OPERATIONS ENGINEER

    Total calculated
    $191,725
    From this org
    $144,381
    From related orgs
    $0
    Other
    $47,344
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,381
    Bonus
    $0
    Other
    $0
    Deferred
    $24,137
    Nontaxable benefits
    $23,207
    Filer's total
    $191,725

  • Jim McClure

    MANAGER OF SYSTEM OPERATIONS & LOSS CONTROL

    Total calculated
    $208,770
    From this org
    $130,757
    From related orgs
    $0
    Other
    $78,013
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,757
    Bonus
    $0
    Other
    $0
    Deferred
    $62,473
    Nontaxable benefits
    $15,540
    Filer's total
    $208,770

  • Justin Smith

    MANAGER OF ENGINEERING

    Total calculated
    $173,670
    From this org
    $133,723
    From related orgs
    $0
    Other
    $39,947
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,723
    Bonus
    $0
    Other
    $0
    Deferred
    $17,056
    Nontaxable benefits
    $22,891
    Filer's total
    $173,670

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 · Written employment contract
  • 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.

  • NORTH EAST FIBER LLC

    C · FIBER · MS · 100% owned · share of income $11,931,770 · share of assets $10,870,938

    Directly controlled by NORTH EAST MISSISSIPPI EPA

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202501349349302265

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