Monroe County Electric Power Assn
- Assets
- $77.1m
- Revenue
- $29.0m
- Investments
- $4.3m
- Employees
- 43
- Location
- Amory, MS
- Founding
- 04/1937
- Data as of
- 06/2022
- EIN
- 64-0208370
Organization Overview
Monroe County Electric Power Assn is located in Amory, MS. The organization was established in 1937. 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 06/2022, Monroe County Electric Power Assn employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monroe County 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 06/2022, Monroe County Electric Power Assn generated $29.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $25.7m during the year ending 06/2022. While expenses have increased by 26.3% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING ELECTRICAL POWER SERVICE TO RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRICAL POWER SERVICE TO RURAL AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Rowland General Mana | Officer | 40 | $165,956 |
Ryan Payne Secretary/tr | Officer | 40 | $99,030 |
Martha Elaine Dobbs Director | Trustee | 1 | $150 |
Avery Duncan Director | Trustee | 1 | $1,800 |
Phil Prewitt Director | Trustee | 1 | $1,800 |
Ira Thomas Crook III Director | Trustee | 1 | $1,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ervin Cable Construction Llc Fiber Contracto | 6/29/22 | $6,443,280 |
Wa Kendall And Company Inc Row Contractor | 6/29/22 | $276,974 |
Lewis Tree Service Row Contract | 6/29/22 | $215,555 |
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 | $26,575,849 |
| Investment income | $269,814 |
| 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 | $29,042,620 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,155,699 |
| Pension plan accruals and contributions | $152,018 |
| Other employee benefits | $283,473 |
| Payroll taxes | $100,205 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $70,289 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $690,117 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,181,585 |
| Insurance | $5,183 |
| All other expenses | $141,847 |
| Total functional expenses | $25,733,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,593,490 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,002,310 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,913,383 |
| Prepaid expenses and deferred charges | $2,070,168 |
| Net Land, buildings, and equipment | $61,170,394 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,317,699 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,995 |
| Total assets | $77,077,439 |
| Accounts payable and accrued expenses | $4,107,091 |
| 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 | $25,081,394 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,309,384 |
| Total liabilities | $35,497,869 |
| 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 | $41,579,570 |
| Total liabilities and net assets/fund balances | $77,077,439 |