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Nonprofiteer
← TALLAHATCHIE VALLEY ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2022

Filed by TALLAHATCHIE VALLEY ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$86,052,207
Total expenses
$86,052,207
Contributions and grants received
$0
Grants paid
$35,000
Program service revenue
$81,111,251
Investment income
$441,810
Other revenue
$4,499,146
Total assets, end of year
$194,528,547
Total liabilities, end of year
$89,922,536
Net assets or fund balances, end of year
$104,606,011
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: Sales of electricity

    total $80,898,051 · related or exempt $80,898,051

  • 2b · Program service revenue: Patronage dividends

    total $213,200 · related or exempt $213,200

  • 3 · Investment income

    total $441,810 · unrelated business $93,320 · excluded $348,490

  • 6a · Gross rents

    personal property $4,893,777

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $4,893,777

  • 6d · Net rental income or loss

    total $4,893,777 · unrelated business $3,482,237 · excluded $1,411,540

  • 10a · Gross sales of inventory

    $4,648

  • 10b · Cost of goods sold

    $3,505

  • 10c · Net income from sales of inventory

    total $1,143 · related or exempt $1,143

  • 11a · Other revenue: Other nonoperating inc

    total $10,931 · related or exempt $10,931

  • 11b · Other revenue: Loss on subsidiary

    total -$406,705 · related or exempt -$406,705

  • 11e · Other revenue, total

    -$395,774

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $35,000

  • 4 · Benefits paid to or for members

    total $2,778,807

  • 5 · Compensation of officers, directors and key employees

    total $777,575

  • 20 · Interest

    total $2,214,244

  • 22 · Depreciation, depletion and amortization

    total $7,627,675

  • 24a · Other expenses: Cost of power

    total $58,487,657

  • 24b · Other expenses: Distribution - Operatio

    total $5,849,772

  • 24c · Other expenses: Administrative & genera

    total $2,676,225

  • 24d · Other expenses: Distribution - Maintena

    total $2,555,700

  • 24e · All other expenses

    total $3,049,552

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,001,709 · end of year $9,753,091

  • 2 · Savings and temporary cash investments

    beginning of year $8,787,753 · end of year $0

  • 4 · Accounts receivable

    beginning of year $6,299,153 · end of year $9,302,577

  • 7 · Other notes and loans receivable

    beginning of year $55,824 · end of year $24,618

  • 8 · Inventories for sale or use

    beginning of year $1,513,157 · end of year $2,033,095

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,683,234 · end of year $5,128,175

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

    $231,135,219

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

    $66,618,698

  • 10c · Land, buildings and equipment, net

    beginning of year $146,701,484 · end of year $164,516,521

  • 13 · Investments: program-related

    beginning of year $778,756 · end of year $431,049

  • 15 · Other assets

    beginning of year $3,984,281 · end of year $3,339,421

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,176,230 · end of year $12,764,655

  • 23 · Secured mortgages and notes payable

    beginning of year $75,299,583 · end of year $71,004,473

  • 25 · Other liabilities

    beginning of year $5,938,789 · end of year $6,153,408

  • 29 · Capital stock, trust principal or current funds

    beginning of year $574,313 · end of year $586,458

  • 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 $100,816,436 · end of year $104,019,553

Mission and programs · 2022

Mission

Tallahatchie Valley Electric Power Association is in the electric power distribution business primarily in order to provide quality service at the lowest possible rate. As a not-for-profit distributor of electricity generated by the Tennessee Valley Authority, TVEPA serves our member-owners, not profits.

Activities or mission (Part I)

Tallahatchie Valley Electric Power Association is an electric cooperative that provides electric service to residential, commercial, and industrial customers in nine north Mississippi counties.

  • Tallahatchie Valley Electric Power Association served over 27,000 members in a region of North Mississippi that includes portions of nine counties, making us one of the largest electric power associations in Mississippi.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gene Standridge

    Director/Secretary

    Total calculated
    $15,938
    From this org
    $15,938
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Charles Davis

    Director

    Total calculated
    $15,238
    From this org
    $15,238
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • HB House

    Director/Vice President

    Total calculated
    $16,438
    From this org
    $16,438
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeff Herron

    Director

    Total calculated
    $17,073
    From this org
    $17,073
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kim Hollowell

    Director

    Total calculated
    $13,816
    From this org
    $13,816
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sheila Melton

    Director

    Total calculated
    $11,133
    From this org
    $11,133
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Chapman

    Director

    Total calculated
    $15,408
    From this org
    $15,408
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Will Hays

    Director/President

    Total calculated
    $15,788
    From this org
    $15,788
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tracy Aiken

    Director

    Total calculated
    $10,670
    From this org
    $10,670
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Brad Robison

    General Manager/CEO

    Total calculated
    $468,861
    From this org
    $371,721
    From related orgs
    $0
    Other
    $97,140
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $371,721
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $74,809 related
    Nontaxable benefits
    $0 + $22,331 related
    Filer's total
    $371,721 + $97,140 related

  • Angela Hall

    Chief Financial Officer

    Total calculated
    $232,937
    From this org
    $184,333
    From related orgs
    $0
    Other
    $48,604
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,333
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $38,109 related
    Nontaxable benefits
    $0 + $10,495 related
    Filer's total
    $184,333 + $48,604 related

  • Jamie Barnett

    Director of Operations

    Total calculated
    $246,351
    From this org
    $187,146
    From related orgs
    $0
    Other
    $59,205
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,146
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $39,487 related
    Nontaxable benefits
    $0 + $19,718 related
    Filer's total
    $187,146 + $59,205 related

  • Kerry Davis

    Director of Engineering

    Total calculated
    $244,769
    From this org
    $190,308
    From related orgs
    $0
    Other
    $54,461
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,308
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $39,791 related
    Nontaxable benefits
    $0 + $14,670 related
    Filer's total
    $190,308 + $54,461 related

  • Chris Sullivan

    Director of Information Te

    Total calculated
    $221,327
    From this org
    $163,683
    From related orgs
    $0
    Other
    $57,644
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,683
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $37,942 related
    Nontaxable benefits
    $0 + $19,702 related
    Filer's total
    $163,683 + $57,644 related

  • Earl Gibson

    Director of Member Service

    Total calculated
    $236,700
    From this org
    $178,936
    From related orgs
    $0
    Other
    $57,764
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,936
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $37,942 related
    Nontaxable benefits
    $0 + $19,822 related
    Filer's total
    $178,936 + $57,764 related

  • Daniel Watson

    Director of Telecom

    Total calculated
    $216,256
    From this org
    $170,071
    From related orgs
    $0
    Other
    $46,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,071
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $34,556 related
    Nontaxable benefits
    $0 + $11,629 related
    Filer's total
    $170,071 + $46,185 related

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

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.

  • Serviceplus Energy Corp

    C · Investments · MS · 100% owned · share of assets $3,087 · controlled entity

    Directly controlled by Tallahatchie Valley EPA

  • Tallahatchie Valley Internet Services LLC

    C · Internet Services · MS · 100% owned · share of income $8,324,460 · share of assets $4,201,849 · controlled entity

    Directly controlled by Tallahatchie Valley EPA

Provenance

Return type
form_990
Tax year
2022
Filed
17 April 2024
IRS schema version
2022v5.0
Source object
202441249349302264

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