Monroe County Electric Power Assn
- Assets
- $73.3m
- Revenue
- $24.7m
- Investments
- $1.5m
- Employees
- 41
- Location
- Amory, MS
- Founding
- 04/1937
- Data as of
- 06/2021
- 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 06/2021, Monroe County Electric Power Assn employed 41 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 06/2021, Monroe County Electric Power Assn generated $24.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $22.7m during the year ending 06/2021. While expenses have increased by 28.6% per year over the past 6 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
2021
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 | $155,390 |
Ryan Payne Secretary/tr | Officer | 40 | $94,502 |
Walton Willis Director | Trustee | 1 | $1,800 |
Frank Owen Director | Trustee | 1 | $1,800 |
Phil Prewitt Director | Trustee | 1 | $1,800 |
Roy Lee Lindsey Director | Trustee | 1 | $1,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Linkous Constrcution Co Inc Construction | 6/29/21 | $987,639 |
W A Kendall And Company Inc Row Contract | 6/29/21 | $322,808 |
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 | $24,406,891 |
| Investment income | $96,837 |
| 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 | $24,702,292 |
| 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 | $1,155,734 |
| Pension plan accruals and contributions | $160,013 |
| Other employee benefits | $143,664 |
| Payroll taxes | $104,540 |
| 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 | $0 |
| 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 | $406,801 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,131,995 |
| Insurance | $0 |
| All other expenses | $395,962 |
| Total functional expenses | $22,700,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,468,426 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,895,045 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,439,053 |
| Prepaid expenses and deferred charges | $3,895,390 |
| Net Land, buildings, and equipment | $43,703,106 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,514,184 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,398,168 |
| Total assets | $73,313,372 |
| Accounts payable and accrued expenses | $3,847,224 |
| 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 | $22,246,340 |
| Unsecured mortgages and notes payable | $469,000 |
| Other liabilities | $7,632,368 |
| Total liabilities | $34,194,932 |
| 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 | $39,118,440 |
| Total liabilities and net assets/fund balances | $73,313,372 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Alabama Electric Cooperative Troy, AL | $170,308,337 | $49,282,613 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
C & L Electric Cooperative Corporation Star City, AR | $139,600,891 | $49,154,793 |
Pea River Electric Cooperative Ozark, AL | $110,632,555 | $43,695,201 |
Tennessee Valley Electric Cooperative Savannah, TN | $70,169,300 | $47,105,536 |
Black Warrior Electric Membership Corporation Demopolis, AL | $79,787,919 | $42,843,236 |
Coosa Valley Electric Cooperative Inc Talladega, AL | $137,764,324 | $42,681,564 |
Petit Jean Electric Cooperative Corporation Clinton, AR | $119,449,116 | $40,732,999 |
Plateau Electric Cooperative Oneida, TN | $68,557,070 | $43,303,901 |
Clay County Electric Coop Corp Corning, AR | $144,833,979 | $30,381,421 |
Arab Electric Cooperative Inc Arab, AL | $58,163,411 | $38,555,130 |
Clarke-Washington Electric Membership Corporation Jackson, AL | $110,788,489 | $37,570,610 |