Tippah Electric Power Association

The information for Tippah Electric Power Association is as of the organization's most recent filing in June '21. This organization is located in Ripley, MS. It has been in existence for 81 years, following its founding in 1940.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Tippah Electric Power Association's NTEE code is W80. The "W" tells us that the organization is classified along with Public & Societal Benefit organizations. The "80" tells us that the organization is involved in Public Utilities. The NTEE describes Public Utilities as organizations that provide gas, electricity, water, and sanitary services, including the hook-up of services and the installation, maintenance, and repair of necessary equipment. Many organizations in this classification are located in section 501(c)(12). The mission of the Tippah Electric Power Association is to distribute public electric power service to residential, commercial, and industrial customers in Tippah County, Mississippi, and parts of the surrounding area.

Program Areas

Program Area 1: Within the general fund, the organization distributes electric power service to 13,830 customers for the fiscal year. These customers include residential, commercial, and industrial customers in Tippah County, parts of Alcorn, Benton, and Union Counties in Mississippi, and parts of Hardeman County in Tennessee.

Program Area 2: The association provided electric power service to a total of 13,830 customers during the fiscal year. These customers included residential, commercial, and industrial customers located in Tippah County, parts of Alcorn, Benton, and Union Counties in Mississippi, as well as parts of Hardeman County in Tennessee.

Organization Staffing

Tippah Electric Power Association has 47 employees, two of whom were paid more than $100k according to the organization's most recent 990 tax filing. The organization does not rely on volunteers to support its workforce.

Board Governance

Tippah Electric Power Association appears to be well-governed based on the information provided. The organization has 9 voting members, all of whom are independent, indicating a diverse and unbiased decision-making process. The absence of potential conflicts of interest further enhances the credibility of the organization's governance. The fact that board meetings and committee meetings are documented demonstrates transparency and accountability within the organization. This documentation allows for a clear record of discussions, decisions, and actions taken, ensuring that all members are informed and involved in the decision-making process. Moreover, Tippah Electric Power Association has a conflict of interest policy in place, indicating a commitment to managing and mitigating any potential conflicts that may arise. The requirement for disclosure of conflicts further emphasizes the organization's dedication to transparency and ethical conduct. However, there are a few areas where the organization could improve its governance practices. The absence of a written whistleblower policy may limit the ability of employees or stakeholders to report any wrongdoing or unethical behavior. Additionally, the lack of a document retention policy may pose challenges in terms of record-keeping and compliance with legal and regulatory requirements. Furthermore, the organization does not substantiate or review leadership salaries or officer's salaries, which may raise concerns about the fairness and appropriateness of compensation within the organization. Lastly, the organization does not provide copies of the 990 to the board prior to filing. This may limit the board's ability to review and understand the financial status and activities of the organization before they are made public. Overall, while Tippah Electric Power Association demonstrates several positive governance practices, there are areas where improvements could be made to enhance transparency, accountability, and ethical conduct within the organization.

Organization Growth

Tippah Electric Power Association has experienced significant growth over the given time period. The organization's contributions and grants received have increased from $0 in 2014 to $6.0 million in 2020. Additionally, their investment income has risen from $11.8 thousand in 2014 to $14.8 thousand in 2020. Other revenue has also seen growth, increasing from $9.1 million in 2014 to $12.3 million in 2020. The total revenue has more than doubled, going from $9.1 million in 2014 to $18.3 million in 2020. Furthermore, employee salaries have increased from $2.1 million in 2014 to $2.9 million in 2020. The total expenses have also risen from $8.0 million in 2014 to $10.9 million in 2020. Finally, the number of employees has increased from 40 in 2014 to 47 in 2020. Overall, these indicators suggest that Tippah Electric Power Association has grown significantly over the given time period.