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Nonprofiteer
← LITTLE OCMULGEE ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by LITTLE OCMULGEE ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$27,350,946
Total expenses
$27,350,946
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,144,114
Investment income
$44,347
Other revenue
$162,485
Total assets, end of year
$83,573,996
Total liabilities, end of year
$55,006,820
Net assets or fund balances, end of year
$28,567,176
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$27,350,946

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 ELECTRICITY

    total $26,781,264 · related or exempt $26,781,264

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

    total $333,637 · related or exempt $333,637

  • 2c · Program service revenue: OTHER

    total $29,213 · related or exempt $29,213

  • 3 · Investment income

    total $44,347 · excluded $44,347

  • 6a · Gross rents

    real property $162,485

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $162,485

  • 6d · Net rental income or loss

    total $162,485 · related or exempt $162,485

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,566,321

  • 5 · Compensation of officers, directors and key employees

    total $390,545

  • 12 · Advertising and promotion

    total $880

  • 13 · Office expenses

    total $83,414

  • 20 · Interest

    total $1,800,000

  • 22 · Depreciation, depletion and amortization

    total $2,678,150

  • 24a · Other expenses: COST OF POWER

    total $16,058,596

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $2,773,003

  • 24c · Other expenses: CONSUMER ACCOUNTS

    total $830,295

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $672,051

  • 24e · All other expenses

    total $497,691

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $460,030 · end of year $638,147

  • 4 · Accounts receivable

    beginning of year $1,203,837 · end of year $4,180,243

  • 8 · Inventories for sale or use

    beginning of year $583,389 · end of year $1,136,223

  • 9 · Prepaid expenses and deferred charges

    beginning of year $42,247 · end of year $46,106

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

    $91,101,222

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

    $22,925,577

  • 10c · Land, buildings and equipment, net

    beginning of year $55,488,000 · end of year $68,175,645

  • 13 · Investments: program-related

    beginning of year $7,260,222 · end of year $7,475,164

  • 15 · Other assets

    beginning of year $917,275 · end of year $1,922,468

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,392,784 · end of year $1,619,894

  • 19 · Deferred revenue

    beginning of year $1,000,000 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $31,485,857 · end of year $48,470,635

  • 25 · Other liabilities

    beginning of year $4,754,877 · end of year $4,916,291

  • 29 · Capital stock, trust principal or current funds

    beginning of year $40,305 · end of year $40,330

  • 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 $27,281,177 · end of year $28,526,846

Mission and programs · 2024

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARD OF SERVICE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARD OF SERVICE.

    Expenses $27,350,946

As filed on the 2024 return.

Listed in Part VII

  • Jimmy Grimes

    DIRECTOR

    Total calculated
    $21,640
    From this org
    $21,640
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Wesley Yawn

    DIRECTOR

    Total calculated
    $27,616
    From this org
    $27,616
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.5

  • George Best

    DIRECTOR

    Total calculated
    $8,057
    From this org
    $8,057
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Benny Evans

    DIRECTOR - SECRETARY

    Total calculated
    $21,640
    From this org
    $21,640
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Larue Fountain

    DIRECTOR

    Total calculated
    $8,692
    From this org
    $8,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.7

  • Chris Milton

    DIRECTOR

    Total calculated
    $4,178
    From this org
    $4,178
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Jim Knight

    DIRECTOR - VICE PRESIDENT

    Total calculated
    $14,434
    From this org
    $14,434
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.9

  • Carey Locke

    DIRECTOR - PRESIDENT

    Total calculated
    $21,640
    From this org
    $21,640
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.4

  • Ronnie Bates

    DIRECTOR

    Total calculated
    $27,240
    From this org
    $27,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Lewis Sheffield

    GENERAL MANAGER

    Total calculated
    $235,408
    From this org
    $198,540
    From related orgs
    $0
    Other
    $36,868
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $197,439
    Bonus
    $920
    Other
    $181
    Deferred
    $21,569
    Nontaxable benefits
    $15,299
    Filer's total
    $235,408

  • Keith Couey

    MANAGER OF OPERATIONS

    Total calculated
    $128,493
    From this org
    $114,454
    From related orgs
    $0
    Other
    $14,039
    Hours/week
    50

  • Jordan Floyd

    SAFETY COORDINATOR

    Total calculated
    $168,223
    From this org
    $115,520
    From related orgs
    $0
    Other
    $52,703
    Hours/week
    46.49

    Schedule J breakdown matched by us

    Base
    $114,550
    Bonus
    $920
    Other
    $50
    Deferred
    $25,862
    Nontaxable benefits
    $26,841
    Filer's total
    $168,223

  • Levi Thomas

    JOURNEYMAN LINEMAN

    Total calculated
    $148,299
    From this org
    $112,815
    From related orgs
    $0
    Other
    $35,484
    Hours/week
    49.62

  • John Yawn

    LINE FOREMAN

    Total calculated
    $161,901
    From this org
    $118,613
    From related orgs
    $0
    Other
    $43,288
    Hours/week
    48.4

    Schedule J breakdown matched by us

    Base
    $117,617
    Bonus
    $920
    Other
    $76
    Deferred
    $24,376
    Nontaxable benefits
    $18,912
    Filer's total
    $161,901

  • James Wood

    JOURNEYMAN LINEMAN

    Total calculated
    $132,536
    From this org
    $112,254
    From related orgs
    $0
    Other
    $20,282
    Hours/week
    47.64

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 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
23 April 2025
IRS schema version
2024v5.1
Source object
202521189349300737

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