Tishomingo Co Electric Power Assn
- Assets
- $59.5m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 73
- Location
- Iuka, MS
- Founding
- 04/1937
- Data as of
- 06/2022
- EIN
- 64-0254465
Organization Overview
Tishomingo Co Electric Power Assn is located in Iuka, 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, Tishomingo Co Electric Power Assn employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tishomingo Co 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, Tishomingo Co Electric Power Assn generated $11.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $9.8m during the year ending 06/2022. While expenses have increased by 3.4% 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
SALE AND DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONS OF ELECTRIC DISTRIBUTION COOPERATIVE
OPERATIONS OF ELECTRIC DISTRIBUTION COOPERATIVE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Barnes President | Trustee | 2 | $4,520 |
Darrin Caldwell Member | Trustee | 2 | $3,800 |
Jimmy Hughes Member | Trustee | 2 | $3,800 |
Janie Cummings Member | Trustee | 2 | $3,800 |
Ricky Davis Member | Trustee | 2 | $3,800 |
Jeff Holt Vice Pres | Trustee | 2 | $3,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sdt Solutions Llc Fiber Const | 6/29/22 | $5,449,574 |
Squan Construction Services Engineering | 6/29/22 | $784,379 |
Logicomusa Fiber Install | 6/29/22 | $760,592 |
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 | $0 |
| Investment income | -$748,449 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,833,872 |
| 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 | $10,391,731 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,477,154 |
| 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. | $170,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $159,905 |
| Other salaries and wages | $2,829,043 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $194,799 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,800 |
| Fees for services: Accounting | $22,933 |
| 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 | $162,439 |
| 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 | $341,908 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,654,459 |
| Insurance | $0 |
| All other expenses | $170,675 |
| Total functional expenses | $9,839,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,509,892 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,409,418 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $132,893 |
| Inventories for sale or use | $730,982 |
| Prepaid expenses and deferred charges | $236,500 |
| Net Land, buildings, and equipment | $40,904,546 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,592,637 |
| Total assets | $59,516,868 |
| Accounts payable and accrued expenses | $2,906,124 |
| Grants payable | $0 |
| Deferred revenue | $139,970 |
| 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 | $17,691,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,214,884 |
| Total liabilities | $25,951,978 |
| 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 | $33,564,890 |
| Total liabilities and net assets/fund balances | $59,516,868 |