Meriwether Lewis Electric Cooperative
- Assets
- $191.5m
- Revenue
- $132.7m
- Investments
- $1.3m
- Employees
- 125
- Location
- Centerville, TN
- Founding
- 11/1942
- Data as of
- 06/2023
- EIN
- 62-0292655
Organization Overview
Meriwether Lewis Electric Cooperative is located in Centerville, TN. The organization was established in 1942. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2023, Meriwether Lewis Electric Cooperative employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meriwether Lewis Electric Cooperative is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 06/2023, Meriwether Lewis Electric Cooperative generated $132.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $128.6m during the year ending 06/2023. While expenses have increased by 3.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RURAL ELECTRICITY DISTRIBUTION AND BROADBAND INTERNET AND COMMUNICATION SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRICITY DISTRIBUTION TO 35,973 MEMBERS LOCATED IN HICKMAN, HOUSTON, HUMPHREYS, LEWIS, AND PERRY COUNTIES IN MIDDLE TENNESSEE.
PROVISION OF BROADBAND INTERNET AND COMMUNICATION SERVICES VIA A FIBER OPTIC NETWORK TO RURAL HOMES AND BUSINESSES IN THE COOPERATIVE'S SERVICE AREA. THE ORGANIZATION HAS CONNECTED 14,142 CUSTOMERS AS OF 6/30/2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Johnnie Ruth Elrod Director | Trustee | 7.2 | $28,672 |
David Wayne Qualls Director | Trustee | 1.39 | $29,444 |
Bill Webb Director | Trustee | 2.63 | $29,359 |
Jeffrey D Peery DDS Director | Trustee | 2.94 | $29,722 |
Jessie Wallace Director | Trustee | 2.67 | $27,472 |
David Daniel Board Chair | Trustee | 2.07 | $28,531 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Heritage Communications Llc Fiber Network | 6/29/23 | $2,476,070 |
Trees Inc Contract R-o-w | 6/29/23 | $1,907,279 |
Heritage Fg Llc Fiber Network | 6/29/23 | $887,644 |
Service Electric Company Contract Line | 6/29/23 | $2,443,789 |
Gunnison Tree Services Llc Contract Line C | 6/29/23 | $1,408,788 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $543,163 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $543,163 |
| Total Program Service Revenue | $131,913,117 |
| Investment income | $233,025 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $132,689,305 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,972,041 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,821 |
| Fees for services: Accounting | $29,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,381 |
| Advertising and promotion | $90,468 |
| Office expenses | $71,946 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $452,458 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,356 |
| Interest | $2,257,614 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,912,843 |
| Insurance | $107,418 |
| All other expenses | $6,204,702 |
| Total functional expenses | $128,647,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,204,784 |
| Savings and temporary cash investments | $428,764 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,789,672 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,573,484 |
| Inventories for sale or use | $1,778,735 |
| Prepaid expenses and deferred charges | $122,765 |
| Net Land, buildings, and equipment | $169,385,718 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,312,790 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,886,451 |
| Total assets | $191,483,163 |
| Accounts payable and accrued expenses | $27,587,563 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $81,447,746 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,485,497 |
| Total liabilities | $116,520,806 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $147,370 |
| Retained earnings, endowment, accumulated income, or other funds | $74,814,987 |
| Total liabilities and net assets/fund balances | $191,483,163 |