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Nonprofiteer
← MITCHELL ELECTRIC MEMBERSHIP

Form 990 for tax year 2024

Filed by MITCHELL ELECTRIC MEMBERSHIP.

Totals

Total revenue
$85,442,246
Total expenses
$85,442,246
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$77,379,411
Investment income
$44,619
Other revenue
$8,018,216
Total assets, end of year
$264,024,949
Total liabilities, end of year
$158,887,203
Net assets or fund balances, end of year
$105,137,746
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: ELECTRIC REVENUE

    total $71,535,785 · related or exempt $71,535,785

  • 2b · Program service revenue: POLE RENTAL AND ACCESS

    total $2,683,145 · excluded $2,683,145

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $1,757,371 · related or exempt $1,757,371

  • 2d · Program service revenue: G & T CAPITAL CREDITS

    total $1,403,110 · related or exempt $1,403,110

  • 3 · Investment income

    total $44,619 · excluded $44,619

  • 11a · Other revenue: ARPA GRANT FUNDS

    total $8,058,204 · unrelated business $8,058,204

  • 11b · Other revenue: INTERNET REVENUE

    total $235,046 · related or exempt $235,046

  • 11c · Other revenue: REVENUE SHARE - BROADBAND

    total $100,601 · unrelated business $100,601

  • 11d · All other revenue

    total -$375,635 · related or exempt -$375,635

  • 11e · Other revenue, total

    $8,018,216

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,488,136

  • 5 · Compensation of officers, directors and key employees

    total $713,773

  • 13 · Office expenses

    total $906,547

  • 20 · Interest

    total $5,488,518

  • 22 · Depreciation, depletion and amortization

    total $5,757,707

  • 24a · Other expenses: PURCHASED POWER

    total $37,523,662

  • 24b · Other expenses: BROADBAND ACTIVITIES

    total $8,220,197

  • 24c · Other expenses: DISTRIBUTION MAINTENANCE

    total $6,578,773

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $4,769,950

  • 24e · All other expenses

    total $8,994,983

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,823,661 · end of year $2,963,580

  • 4 · Accounts receivable

    beginning of year $6,879,522 · end of year $7,674,706

  • 8 · Inventories for sale or use

    beginning of year $11,999,445 · end of year $12,160,372

  • 9 · Prepaid expenses and deferred charges

    beginning of year $183,107 · end of year $116,767

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

    $249,505,313

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

    $46,294,859

  • 10c · Land, buildings and equipment, net

    beginning of year $166,956,100 · end of year $203,210,454

  • 13 · Investments: program-related

    beginning of year $34,294,758 · end of year $37,225,712

  • 15 · Other assets

    beginning of year $476,188 · end of year $673,358

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,634,436 · end of year $15,358,718

  • 23 · Secured mortgages and notes payable

    beginning of year $89,015,741 · end of year $122,928,347

  • 25 · Other liabilities

    beginning of year $20,808,398 · end of year $20,600,138

  • 31 · Retained earnings, endowment or other funds

    beginning of year $100,154,206 · end of year $105,137,746

Mission and programs · 2024

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OR SERVICE.

  • N/A

As filed on the 2024 return.

Listed in Part VII

  • W Lucius Adkins Jr

    CHAIRMAN

    Total calculated
    $26,792
    From this org
    $26,792
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.7

  • John B Johnson Sr

    VICE CHAIRMA

    Total calculated
    $26,593
    From this org
    $26,593
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Doyle M Medders

    SEC-TREAS

    Total calculated
    $26,959
    From this org
    $26,959
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.9

  • T Ralph Davis Jr

    DIRECTOR

    Total calculated
    $27,236
    From this org
    $27,236
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Max R Lewis Jr

    DIRECTOR

    Total calculated
    $26,925
    From this org
    $26,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.5

  • Billy Senkbeil

    DIRECTOR

    Total calculated
    $28,385
    From this org
    $28,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Johnny Cochran

    DIRECTOR

    Total calculated
    $26,925
    From this org
    $26,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Joseph E Rackley IV

    DIRECTOR

    Total calculated
    $26,925
    From this org
    $26,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Larry Glow

    DIRECTOR

    Total calculated
    $26,925
    From this org
    $26,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Tony F Tucker

    PRESIDENT &

    Total calculated
    $470,109
    From this org
    $294,830
    From related orgs
    $0
    Other
    $175,279
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $281,855
    Bonus
    $3,072
    Other
    $9,903
    Deferred
    $132,417
    Nontaxable benefits
    $42,862
    Filer's total
    $470,109

  • Sarah E Worthy

    VP FIN & ACC

    Total calculated
    $300,890
    From this org
    $204,923
    From related orgs
    $0
    Other
    $95,967
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,768
    Bonus
    $3,044
    Other
    $8,111
    Deferred
    $77,181
    Nontaxable benefits
    $18,786
    Filer's total
    $300,890

  • Otis Johnson

    CONSTRUCTION

    Total calculated
    $299,303
    From this org
    $211,148
    From related orgs
    $0
    Other
    $88,155
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,963
    Bonus
    $3,044
    Other
    $15,141
    Deferred
    $41,847
    Nontaxable benefits
    $46,308
    Filer's total
    $299,303

  • James Clifton

    VP OF ENGINE

    Total calculated
    $285,277
    From this org
    $198,332
    From related orgs
    $0
    Other
    $86,945
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,279
    Bonus
    $3,044
    Other
    $10,009
    Deferred
    $54,230
    Nontaxable benefits
    $32,715
    Filer's total
    $285,277

  • Brian Baggett

    CONSTRUCTION

    Total calculated
    $265,978
    From this org
    $196,255
    From related orgs
    $0
    Other
    $69,723
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,617
    Bonus
    $3,044
    Other
    $8,594
    Deferred
    $39,230
    Nontaxable benefits
    $30,493
    Filer's total
    $265,978

  • Derek J Jennings

    VP OF TECH S

    Total calculated
    $284,603
    From this org
    $193,135
    From related orgs
    $0
    Other
    $91,468
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,550
    Bonus
    $3,062
    Other
    $9,523
    Deferred
    $49,987
    Nontaxable benefits
    $41,481
    Filer's total
    $284,603

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 · 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
3 November 2025
IRS schema version
2024v5.0
Source object
202503079349301880

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