Skip to content
Nonprofiteer
← GIBSON ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by GIBSON ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$119,497,988
Total expenses
$113,730,721
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$117,536,135
Investment income
$374,462
Other revenue
$1,587,391
Total assets, end of year
$247,285,972
Total liabilities, end of year
$120,400,754
Net assets or fund balances, end of year
$126,885,218
Program services expenses (Part IX)
$109,666,307
Management and general expenses
$4,064,414
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 96.4% 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: PROGRAM SERVICE REVENUE

    total $117,536,135 · related or exempt $117,536,135

  • 3 · Investment income

    total $374,462 · related or exempt $374,462

  • 11a · Other revenue: OTHER REVENUE

    total $1,587,391 · related or exempt $1,587,391

  • 11e · Other revenue, total

    $1,587,391

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $7,122,372 · program services $1,528,979 · management and general $5,593,393

  • 20 · Interest

    total $2,473,672 · program services $2,473,672

  • 22 · Depreciation, depletion and amortization

    total $11,181,354 · program services $11,181,354

  • 24a · Other expenses: PURCHASED POWER

    total $73,255,386 · program services $73,255,386

  • 24b · Other expenses: MAINTENANCE

    total $9,501,307 · program services $9,501,307

  • 24c · Other expenses: TRANSMISSION AND DIST

    total $4,866,378 · program services $4,866,378

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $4,305,778 · program services $4,305,778

  • 24e · All other expenses

    total $1,024,474 · program services $2,553,453 · management and general -$1,528,979

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,006,317 · end of year $867,759

  • 2 · Savings and temporary cash investments

    beginning of year $166,881 · end of year $2,087,684

  • 4 · Accounts receivable

    beginning of year $12,814,994 · end of year $9,373,059

  • 8 · Inventories for sale or use

    beginning of year $7,462,661 · end of year $6,682,721

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,248,857 · end of year $3,088,030

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

    $331,805,382

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

    $110,130,326

  • 10c · Land, buildings and equipment, net

    beginning of year $200,285,678 · end of year $221,675,056

  • 15 · Other assets

    beginning of year $3,677,020 · end of year $3,511,663

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,833,271 · end of year $22,159,579

  • 23 · Secured mortgages and notes payable

    beginning of year $71,399,825 · end of year $92,653,661

  • 25 · Other liabilities

    beginning of year $13,309,941 · end of year $5,587,514

  • 29 · Capital stock, trust principal or current funds

    beginning of year $260,380 · end of year $258,960

  • 31 · Retained earnings, endowment or other funds

    beginning of year $120,858,991 · end of year $126,626,258

Mission and programs · 2023

Mission

GIBSON EMC IS AN ELECTRIC COOPERATIVE OWNED BY ITS MEMBERS. GIBSON EMC, AND ITS WHOLLY-OWNED SUBSIDIARY GIBSON CONNECT, SUPPLY ENERGY AND FIBER SERVICES THROUGHOUT A 12-COUNTY SERVICE AREA IN NORTHWEST TENNESSEE AND SOUTHWEST KENTUCKY.

  • GIBSON EMC HAS 3,560 MILES OF ELECTRIC LINE AND 39,538 METERS IN CROCKETT, DYER, GIBSON, HAYWOOD, LAKE, LAUDERDALE, MADISON, AND OBION COUNTIES IN TENNESSEE AND CARLISLE, FULTON, GRAVES AND HICKMAN COUNTIES IN KENTUCKY. GIBSON CONNECT, GIBSON EMC'S WHOLLY-OWNED SUBSIDIARY, PROVIDES FIBER SERVICES TO VARIOUS ACCOUNTS THROUGHOUT GIBSON EMC'S SERVICE AREA WITH 3,545 MILES OF FIBER LINES AND 17,694 CUSTOMERS. THE CORPORATE OFFICE IS LOCATED IN TRENTON, TENNESSEE WITH MEMBER SERVICE CENTERS IN ALAMO, TIPTONVILLE, TRENTON, MEDINA, AND TROY, TENNESSEE AND HICKMAN, KENTUCKY.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Steve Sanders

    CHAIRMAN

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

  • Keith Heglar

    VICE CHAIRMA

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bob McCurdy

    ASST. SEC.

    Total calculated
    $9,400
    From this org
    $4,600
    From related orgs
    $0
    Other
    $4,800
    Hours/week
    5

  • Tony Bargery

    TRUSTEE

    Total calculated
    $8,100
    From this org
    $8,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jim Turner

    TRUSTEE

    Total calculated
    $8,600
    From this org
    $8,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Wray Pulliam

    TRUSTEE

    Total calculated
    $9,900
    From this org
    $9,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Joan Mouser

    TRUSTEE

    Total calculated
    $12,900
    From this org
    $12,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Eric Dupree

    TRUSTEE

    Total calculated
    $10,100
    From this org
    $10,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Rana Buchanan

    TRUSTEE

    Total calculated
    $13,800
    From this org
    $13,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Keith Forrester

    TRUSTEE

    Total calculated
    $8,800
    From this org
    $8,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bruce Kimbell

    TRUSTEE

    Total calculated
    $8,100
    From this org
    $300
    From related orgs
    $0
    Other
    $7,800
    Hours/week
    3

  • Brian McDaniel

    TRUSTEE

    Total calculated
    $10,200
    From this org
    $10,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dan Rodamaker

    PRES. & CEO

    Total calculated
    $738,616
    From this org
    $606,783
    From related orgs
    $0
    Other
    $131,833
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $380,767
    Bonus
    $97,382
    Other
    $128,634
    Deferred
    $90,994
    Nontaxable benefits
    $40,839
    Filer's total
    $738,616

  • Barry Smith

    VP OF OPERAT

    Total calculated
    $359,371
    From this org
    $224,950
    From related orgs
    $0
    Other
    $134,421
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $197,349
    Bonus
    $7,465
    Other
    $20,136
    Deferred
    $93,330
    Nontaxable benefits
    $41,091
    Filer's total
    $359,371

  • Charles Phillips

    VP OF TECHNI

    Total calculated
    $344,006
    From this org
    $221,051
    From related orgs
    $0
    Other
    $122,955
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $195,957
    Bonus
    $6,445
    Other
    $18,649
    Deferred
    $88,625
    Nontaxable benefits
    $34,330
    Filer's total
    $344,006

  • Rita Alexander

    VP OF COMMUN

    Total calculated
    $259,287
    From this org
    $180,695
    From related orgs
    $0
    Other
    $78,592
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $159,928
    Bonus
    $5,313
    Other
    $15,454
    Deferred
    $42,662
    Nontaxable benefits
    $35,930
    Filer's total
    $259,287

  • Richard Beden

    CFO

    Total calculated
    $247,855
    From this org
    $164,600
    From related orgs
    $0
    Other
    $83,255
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $153,611
    Bonus
    $6,194
    Other
    $4,795
    Deferred
    $44,109
    Nontaxable benefits
    $39,146
    Filer's total
    $247,855

  • Randy Dotson

    ENGINEER

    Total calculated
    $214,882
    From this org
    $148,900
    From related orgs
    $0
    Other
    $65,982

    Schedule J breakdown matched by us

    Base
    $136,356
    Bonus
    $5,079
    Other
    $7,465
    Deferred
    $40,557
    Nontaxable benefits
    $25,425
    Filer's total
    $214,882

  • Bret Taylor

    FIRSTCLASSLI

    Total calculated
    $176,060
    From this org
    $129,033
    From related orgs
    $0
    Other
    $47,027

    Schedule J breakdown matched by us

    Base
    $126,909
    Bonus
    $1,815
    Other
    $309
    Deferred
    $15,261
    Nontaxable benefits
    $31,766
    Filer's total
    $176,060

  • Daniel Goode

    OPERATIONS

    Total calculated
    $189,271
    From this org
    $120,759
    From related orgs
    $0
    Other
    $68,512

    Schedule J breakdown matched by us

    Base
    $115,443
    Bonus
    $4,056
    Other
    $1,260
    Deferred
    $35,820
    Nontaxable benefits
    $32,692
    Filer's total
    $189,271

  • Payton Featherston

    FIRSTCLASSLI

    Total calculated
    $162,051
    From this org
    $124,049
    From related orgs
    $0
    Other
    $38,002

    Schedule J breakdown matched by us

    Base
    $121,968
    Bonus
    $1,881
    Other
    $200
    Deferred
    $7,915
    Nontaxable benefits
    $30,087
    Filer's total
    $162,051

  • Kendall Byassee

    CREWLEADER

    Total calculated
    $175,564
    From this org
    $121,852
    From related orgs
    $0
    Other
    $53,712

    Schedule J breakdown matched by us

    Base
    $119,954
    Bonus
    $1,605
    Other
    $293
    Deferred
    $23,186
    Nontaxable benefits
    $30,526
    Filer's total
    $175,564

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
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GIBSON CONNECT C/O GIBSON CONNECT

    INTERNET · TN · income $12,185,446 · assets $18,467,594

    Directly controlled by GIBSON ELE GEMC

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2024
IRS schema version
2023v5.0
Source object
202411369349304991

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.