Skip to content
Nonprofiteer
← NORTH EAST MISSISSIPPI ELECTRIC POWER ASSOCIATION

Form 990 for tax year 2022

Filed by NORTH EAST MISSISSIPPI ELECTRIC POWER ASSOCIATION.

Totals

Total revenue
$88,576,202
Total expenses
$83,510,055
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$79,730,325
Investment income
$436,457
Other revenue
$8,409,420
Total assets, end of year
$198,172,510
Total liabilities, end of year
$119,025,030
Net assets or fund balances, end of year
$79,147,480
Program services expenses (Part IX)
$83,510,055
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$83,510,055

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: ELECTRICITY SALES

    total $79,730,325 · related or exempt $79,730,325

  • 3 · Investment income

    total $436,457 · related or exempt $136,789 · unrelated business $299,668

  • 6a · Gross rents

    personal property $1,694,043

  • 6c · Rental income or loss

    personal property $1,694,043

  • 6d · Net rental income or loss

    total $1,694,043 · excluded $1,694,043

  • 11a · Other revenue: FIBER LEASE INCOME

    total $3,744,209 · unrelated business $3,744,209

  • 11b · Other revenue: ACTUARIAL GAIN

    total $1,688,315 · related or exempt $1,688,315

  • 11c · Other revenue: MISC INCOME

    total $629,168 · related or exempt $629,168

  • 11d · All other revenue

    total $653,685 · related or exempt $653,685

  • 11e · Other revenue, total

    $6,715,377

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $3,784,907 · program services $3,784,907

  • 13 · Office expenses

    total $955,505 · program services $955,505

  • 17 · Travel

    total $152,500 · program services $152,500

  • 19 · Conferences, conventions and meetings

    total $55,945 · program services $55,945

  • 20 · Interest

    total $3,659,153 · program services $3,659,153

  • 22 · Depreciation, depletion and amortization

    total $8,082,035 · program services $8,082,035

  • 24a · Other expenses: COST OF ELECTRICITY

    total $60,636,568 · program services $60,636,568

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $2,858,431 · program services $2,858,431

  • 24c · Other expenses: CUSTOMER ACCOUNTS

    total $1,217,387 · program services $1,217,387

  • 24d · Other expenses: DISTRIBUTION - OPERATING

    total $987,617 · program services $987,617

  • 24e · All other expenses

    total $1,120,007 · program services $1,120,007

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $345,682 · end of year $835,720

  • 4 · Accounts receivable

    beginning of year $15,152,364 · end of year $8,050,739

  • 8 · Inventories for sale or use

    beginning of year $2,919,632 · end of year $2,727,568

  • 9 · Prepaid expenses and deferred charges

    beginning of year $817,579 · end of year $399,011

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

    $231,853,987

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

    $68,102,548

  • 10c · Land, buildings and equipment, net

    beginning of year $131,410,231 · end of year $163,751,439

  • 12 · Investments: other securities

    beginning of year -$4,083,233 · end of year -$3,940,296

  • 15 · Other assets

    beginning of year $40,702,659 · end of year $26,348,329

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,195,317 · end of year $13,089,560

  • 19 · Deferred revenue

    beginning of year $28,956

  • 23 · Secured mortgages and notes payable

    beginning of year $87,942,557 · end of year $88,332,065

  • 25 · Other liabilities

    beginning of year $12,020,401 · end of year $17,603,405

  • 29 · Capital stock, trust principal or current funds

    beginning of year $289,450 · end of year $293,100

  • 31 · Retained earnings, endowment or other funds

    beginning of year $73,788,233 · end of year $78,854,380

Mission and programs · 2022

Mission

TO PROVIDE ELECTRIC UTILITY SERVICES TO MEMBERS IN NORTH EAST MISSISSIPPI

  • SERVE MEMBERS WITH ELECTRIC UTILITY

    Expenses $83,510,055 · Revenue $79,730,325

As filed on the 2022 return.

Listed in Part VII

  • James Downs

    PRESIDENT

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • John W Davis

    VICE PRESIDE

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J R Gallagher

    SECRETARY/ T

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • James Herod

    DIRECTOR

    Total calculated
    $11,800
    From this org
    $11,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gene Hartley

    DIRECTOR

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Billy R Brown

    DIRECTOR

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

  • Danny Russell

    DIRECTOR

    Total calculated
    $11,400
    From this org
    $11,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mickey Clayton

    DIRECTOR

    Total calculated
    $11,800
    From this org
    $11,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Keith Hayward

    CEO

    Total calculated
    $453,213
    From this org
    $287,155
    From related orgs
    $74,100
    Other
    $91,958
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,155 + $74,100 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    $91,958
    Nontaxable benefits
    not reported
    Filer's total
    $379,113 + $74,100 related

  • Walker R Abel

    OPERATIONS A

    Total calculated
    $226,492
    From this org
    $161,431
    From related orgs
    $0
    Other
    $65,061
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,431
    Bonus
    not reported
    Other
    not reported
    Deferred
    $65,061
    Nontaxable benefits
    not reported
    Filer's total
    $226,492

  • Marlin Williams

    MEMBER SERVI

    Total calculated
    $172,726
    From this org
    $119,754
    From related orgs
    $0
    Other
    $52,972
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,754
    Bonus
    not reported
    Other
    not reported
    Deferred
    $52,972
    Nontaxable benefits
    not reported
    Filer's total
    $172,726

  • Jason Long

    OPERATIONS E

    Total calculated
    $194,516
    From this org
    $137,734
    From related orgs
    $0
    Other
    $56,782
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,734
    Bonus
    not reported
    Other
    not reported
    Deferred
    $56,782
    Nontaxable benefits
    not reported
    Filer's total
    $194,516

  • Jim McClure

    DISTRIBUTION

    Total calculated
    $159,535
    From this org
    $116,915
    From related orgs
    $0
    Other
    $42,620
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,915
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,620
    Nontaxable benefits
    not reported
    Filer's total
    $159,535

  • John Briscoe

    DIRECTOR

    Total calculated
    $12,800
    From this org
    $12,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Justin Smith

    ENGINEER

    Total calculated
    $173,028
    From this org
    $119,435
    From related orgs
    $0
    Other
    $53,593
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,435
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,593
    Nontaxable benefits
    not reported
    Filer's total
    $173,028

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 · 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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • NORTH EAST FIBER LLC

    FIBER · MS

Provenance

Return type
form_990
Tax year
2022
Filed
15 April 2024
IRS schema version
2022v5.0
Source object
202401079349300700

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.