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Nonprofiteer
← CENTRAL ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2023

Filed by CENTRAL ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$108,914,730
Total expenses
$106,187,025
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$107,340,416
Investment income
$1,559,492
Other revenue
$14,822
Total assets, end of year
$141,855,761
Total liabilities, end of year
$38,493,674
Net assets or fund balances, end of year
$103,362,087
Program services expenses (Part IX)
$106,187,025
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$106,187,025

Program services were 100.0% 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: SALE OF ELECTRICITY

    total $104,741,614 · related or exempt $104,741,614

  • 2b · Program service revenue: OPERATING REVENUES - OTHER

    total $2,598,802 · related or exempt $2,598,802

  • 3 · Investment income

    total $1,559,492 · related or exempt $1,559,492

  • 11a · Other revenue: OTHER INCOME

    total $14,822 · related or exempt $14,822

  • 11e · Other revenue, total

    $14,822

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,496,469 · program services $1,496,469

  • 9 · Other employee benefits

    total $217,898 · program services $217,898

  • 20 · Interest

    total $713,512 · program services $713,512

  • 22 · Depreciation, depletion and amortization

    total $6,818,113 · program services $6,818,113

  • 23 · Insurance

    total $2,601 · program services $2,601

  • 24a · Other expenses: COST OF POWER

    total $77,791,581 · program services $77,791,581

  • 24b · Other expenses: MAINTENANCE

    total $7,952,521 · program services $7,952,521

  • 24c · Other expenses: CUSTOMER ACCOUNTS EXPEN

    total $4,772,851 · program services $4,772,851

  • 24d · Other expenses: DISTRIBUTION EXPENSE

    total $4,312,595 · program services $4,312,595

  • 24e · All other expenses

    total $2,108,884 · program services $2,108,884

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,169,563 · end of year $21,714,708

  • 4 · Accounts receivable

    beginning of year $6,790,566 · end of year $7,048,705

  • 7 · Other notes and loans receivable

    beginning of year $1,574,932 · end of year $1,804,431

  • 8 · Inventories for sale or use

    beginning of year $2,774,864 · end of year $3,136,291

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,793,872 · end of year $4,331,354

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

    $216,030,140

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

    $117,469,816

  • 10c · Land, buildings and equipment, net

    beginning of year $93,263,076 · end of year $98,560,324

  • 13 · Investments: program-related

    beginning of year $867,077 · end of year $1,086,342

  • 15 · Other assets

    beginning of year $3,956,912 · end of year $4,173,606

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,824,280 · end of year $11,857,304

  • 23 · Secured mortgages and notes payable

    beginning of year $28,481,583 · end of year $26,528,311

  • 25 · Other liabilities

    beginning of year $165,847 · end of year $108,059

  • 29 · Capital stock, trust principal or current funds

    beginning of year $774,930 · end of year $690,160

  • 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 $99,944,222 · end of year $102,671,927

Mission and programs · 2023

Mission

TO PROVIDE ELECTRICITY IN RURAL CENTRAL MISSISSIPPI.

Activities or mission (Part I)

PROVIDE ELECTRICITY IN RURAL MISSISSIPPI.

  • TO PROVIDE ELECTRICITY IN RURAL CENTRAL MISSISSIPPI.

    Expenses $106,187,025 · Revenue $108,914,730

As filed on the 2023 return.

Listed in Part VII

  • Kenneth Hagan

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Pettey Leach

    PRESIDENT

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Danny Thornton

    SECRETARY/TREASURER

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Phillip Crosby

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Earl Browning

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Max Loper

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Boyd

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Hanna Watson

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mike Brooks

    VICE PRESIDENT

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jackie Harpole

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brian D Long

    GENERAL MANAGER

    Total calculated
    $241,247
    From this org
    $241,247
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $241,247
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $241,247

  • Robert G Barrett

    DIRECTOR OF OPERATIONS

    Total calculated
    $172,801
    From this org
    $172,801
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,801
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $172,801

  • Amy Shepard

    DIRECTOR OF HR

    Total calculated
    $180,105
    From this org
    $180,105
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,105
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $180,105

  • Jessie Dale Scott

    DIRECTOR OF I.T.

    Total calculated
    $143,606
    From this org
    $143,606
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Danny Burnett

    CONSTRUCTION COORDINATOR

    Total calculated
    $145,606
    From this org
    $145,606
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Melanie A Kirkwood

    DIRECTOR OF ENGINEERING

    Total calculated
    $141,257
    From this org
    $141,257
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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 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
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202402919349300435

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