Form 990 for tax year 2022
Filed by MISSISSIPPI COUNTY ELECTRIC COOPERATIVE INC.
Totals
- Total revenue
- $219,814,238
- Total expenses
- $233,664,258
- Contributions and grants received
- $0
- Grants paid
- $8,809
- Program service revenue
- $228,648,708
- Investment income
- $752,200
- Other revenue
- -$9,586,670
- Total assets, end of year
- $158,984,547
- Total liabilities, end of year
- $73,002,592
- Net assets or fund balances, end of year
- $85,981,955
- 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: SALE OF ELECTRIC ENERGY
total $226,392,063 · related or exempt $226,392,063
-
2b · Program service revenue: PATRONAGE CAPITAL
total $2,256,645 · related or exempt $2,256,645
-
3 · Investment income
total $752,200 · unrelated business $47,486 · excluded $704,714
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $1,323,860 · personal property $13,344
-
6b · Less rental expenses
real property $10,923,874
-
6c · Rental income or loss
real property -$9,600,014 · personal property $13,344
-
6d · Net rental income or loss
total -$9,586,670 · unrelated business -$9,600,014 · excluded $13,344
-
7d · Net gain or loss
total $0
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $8,809
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $6,165,607
-
5 · Compensation of officers, directors and key employees
total $772,019
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,161,397
-
8 · Pension plan contributions
total $243,000
-
9 · Other employee benefits
total $18,912
-
10 · Payroll taxes
total $134,190
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $131,789
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $221,339
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $215,740
-
14 · Information technology
total $181,434
-
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 $5,420
-
20 · Interest
total $1,527,461
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $2,242,553
-
23 · Insurance
total $5,582
-
24a · Other expenses: COST OF POWER
total $217,826,700
-
24b · Other expenses: DIST. EXPENSE - MAINTENANCE
total $1,240,601
-
24c · Other expenses: CUSTOMER ACCOUNTS EXPENSE
total $458,991
-
24d · Other expenses: DIST. EXPENSE - OPERATION
total $411,358
-
24e · All other expenses
total $691,356
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,779,420 · end of year $1,631,526
-
2 · Savings and temporary cash investments
beginning of year $5,665,855 · end of year $4,191,758
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $22,408,585 · end of year $27,485,257
-
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 $1,250,000 · end of year $1,100,000
-
8 · Inventories for sale or use
beginning of year $2,778,145 · end of year $3,138,936
-
9 · Prepaid expenses and deferred charges
beginning of year $139,366 · end of year $124,466
-
10a · Land, buildings and equipment: cost or other basis
$103,077,356
-
10b · Land, buildings and equipment: accumulated depreciation
$18,741,675
-
10c · Land, buildings and equipment, net
beginning of year $77,368,145 · end of year $84,335,681
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $37,191,655 · end of year $36,976,923
-
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 $19,051,383 · end of year $22,782,679
-
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 $40,842,079 · end of year $44,805,080
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $5,387,470 · end of year $5,414,833
-
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 $83,300,239 · end of year $85,981,955
Mission and programs · 2022
Mission
TO PROVIDE ELECTRIC UTILITY SERVICE TO THE COOPERATIVE'S 2,903 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 3,259,194,011 KWH TO 4,886 ACCOUNTS.
As filed on the 2022 return.
Listed in Part VII
-
Brad HarrisonBRAD HARRISON
PRESIDENT/CEO
- Total calculated
- $426,320
- From this org
- $288,568
- From related orgs
- $0
- Other
- $137,752
- Hours/week
- 35 + 15 related
Schedule J breakdown matched by us
- Base
- $270,080
- Bonus
- $5,000
- Other
- $13,488
- Deferred
- $119,295
- Nontaxable benefits
- $18,457
- Filer's total
- $426,320
-
Brandon JenkinsBRANDON JENKINS
VP FINANCE & ADMINISTRATION
- Total calculated
- $216,288
- From this org
- $142,654
- From related orgs
- $0
- Other
- $73,634
- Hours/week
- 35 + 15 related
Schedule J breakdown matched by us
- Base
- $130,651
- Bonus
- $5,000
- Other
- $7,003
- Deferred
- $56,519
- Nontaxable benefits
- $17,115
- Filer's total
- $216,288
-
Kody GallantKODY GALLANT
FIBER SERVICES SUPERVISOR
- Total calculated
- $181,389
- From this org
- $121,338
- From related orgs
- $0
- Other
- $60,051
- Hours/week
- 35 + 15 related
Schedule J breakdown matched by us
- Base
- $63,427
- Bonus
- $5,000
- Other
- $52,911
- Deferred
- $48,696
- Nontaxable benefits
- $11,355
- Filer's total
- $181,389
-
Leon TyeLEON TYE
CONSTRUCTION SUPERVISOR
- Total calculated
- $173,220
- From this org
- $112,588
- From related orgs
- $0
- Other
- $60,632
- Hours/week
- 42.87
Schedule J breakdown matched by us
- Base
- $109,026
- Bonus
- $2,815
- Other
- $747
- Deferred
- $43,792
- Nontaxable benefits
- $16,840
- Filer's total
- $173,220
-
Tommy JonesTOMMY JONES
OPERATIONS SUPERVISOR
- Total calculated
- $165,586
- From this org
- $108,740
- From related orgs
- $0
- Other
- $56,846
- Hours/week
- 41
Schedule J breakdown matched by us
- Base
- $104,375
- Bonus
- $2,928
- Other
- $1,437
- Deferred
- $45,557
- Nontaxable benefits
- $11,289
- Filer's total
- $165,586
-
Michael BridgesMICHAEL BRIDGES
LINEMAN
- Total calculated
- $137,039
- From this org
- $100,854
- From related orgs
- $0
- Other
- $36,185
- Hours/week
- 42.8
-
Justin KnightJUSTIN KNIGHT
LINEMAN
- Total calculated
- $136,171
- From this org
- $105,661
- From related orgs
- $0
- Other
- $30,510
- Hours/week
- 44.35
-
Charles BrownCHARLES BROWN
DIRECTOR
- Total calculated
- $31,740
- From this org
- $26,940
- From related orgs
- $4,800
- Other
- $0
- Hours/week
- 10.3 + 5 related
-
Robert L DavisROBERT L DAVIS
DIRECTOR
- Total calculated
- $31,740
- From this org
- $26,940
- From related orgs
- $4,800
- Other
- $0
- Hours/week
- 10.3 + 5 related
-
Diana HolmesDIANA HOLMES
SECRETARY/TREASURER
- Total calculated
- $31,711
- From this org
- $26,911
- From related orgs
- $4,800
- Other
- $0
- Hours/week
- 10.3 + 5 related
-
Neil BurgeNEIL BURGE
CHAIRMAN
- Total calculated
- $29,280
- From this org
- $24,480
- From related orgs
- $4,800
- Other
- $0
- Hours/week
- 10.3 + 5 related
-
David WildyDAVID WILDY
VICE-CHAIRMAN
- Total calculated
- $28,140
- From this org
- $24,140
- From related orgs
- $4,000
- Other
- $0
- Hours/week
- 10.3 + 5 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
- 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
- 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 $1,676,771 · share of assets $4,220,465 · controlled entity
Directly controlled by MCEC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 22 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303149349302105
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