Dixie Electric Power Assn
- Assets
- $350.0m
- Revenue
- $128.5m
- Investments
- $0.0
- Employees
- 131
- Location
- Laurel, MS
- Founding
- 04/1943
- Data as of
- 12/2023
- EIN
- 64-0183177
Organization Overview
Dixie Electric Power Assn is located in Laurel, MS. The organization was established in 1943. 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 12/2023, Dixie Electric Power Assn employed 131 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dixie Electric Power Assn 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 12/2023, Dixie Electric Power Assn generated $128.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $131.1m during the year ending 12/2023. While expenses have increased by 6.0% per year over the past 5 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
DIXIE ELECTRIC POWER ASSN. STRIVES TO: 1)PROVIDE AN EFFICIENT ELECTRICAL SYSTEM 2)SUPPORT THE COMMUNITY THROUGH LOCAL ACTIVITIES AND ENCOURAGE ECONOMIC GROWTH 3)OFFER A PRODUCTIVE WORK ENVIRONMENT FOR ITS EMPLOYEES 4)CONTINUE TO MEET THE EVER CHANGING NEEDS OF ITS MEMBERS THROUGH TECHNOLOGICAL ADVANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC DISTRIBUTION COOPERATIVE THAT FURNISHED ELECTRIC SERVICE TO 46,961 ACCOUNTS AS OF 12/31/23
RURAL ELECTRIC DISTRIBUTION COOPERATIVE THAT FURNISHED ELECTRIC SERVICE TO 46,961 ACCOUNTS AS OF 12/31/23
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph R Smith General Mana | Officer | 40 | $307,803 |
Thomas Mccarthy Operations M | 40 | $174,453 | |
Aaron Zumwalt Admin & Fina | 40 | $177,153 | |
Jeremy Mcandrew System Engin | 40 | $154,645 | |
Floyd Herford Serviceman | 40 | $134,211 | |
James Grantham It Manager | 40 | $166,760 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sdt Solutions Llc Fiber Construct | 12/30/23 | $7,322,135 |
B Line Llc Right Of Way Cl | 12/30/23 | $4,436,698 |
Mdr Construction Electric Line C | 12/30/23 | $2,364,146 |
Osmose Utilities Service Inc Pole Testing | 12/30/23 | $506,796 |
Geddie Tree & Land Services Llc Right Of Way | 12/30/23 | $390,975 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $122,382,878 |
| Investment income | $428,490 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,078,343 |
| Net Gain/Loss on Asset Sales | $408,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,490,396 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,320 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,783,956 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,089,008 |
| Pension plan accruals and contributions | $2,018,785 |
| Other employee benefits | $2,330,169 |
| Payroll taxes | $786,235 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,558 |
| Fees for services: Accounting | $51,904 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $67,307 |
| Advertising and promotion | $599,624 |
| Office expenses | $1,062,690 |
| Information technology | $811,319 |
| Royalties | $66,166 |
| Occupancy | $101,556 |
| Travel | $93,889 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,645 |
| Interest | $4,225,699 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,317,755 |
| Insurance | $239,956 |
| All other expenses | $4,834,024 |
| Total functional expenses | $131,123,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,216,905 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,500,423 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,891,782 |
| Prepaid expenses and deferred charges | $9,383,277 |
| Net Land, buildings, and equipment | $254,509,004 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,474,677 |
| Total assets | $349,976,068 |
| Accounts payable and accrued expenses | $11,942,479 |
| 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 | $215,886,644 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,082,639 |
| Total liabilities | $234,911,762 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $115,064,306 |
| Total liabilities and net assets/fund balances | $349,976,068 |
Grants Awarded
Over the last fiscal year, Dixie Electric Power Assn has awarded $37,320 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ELECTRIC COOPERATIVES OF MS PURPOSE: SCHOLARSHIPS | $10,000 |
OTHER LESS THAN 5000 | | | $27,320 |