Tishomingo Co Electric Power Assn
- Assets
- $49.4m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 70
- Location
- Iuka, MS
- Founding
- 04/1937
- Data as of
- 06/2021
- 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 06/2021, Tishomingo Co Electric Power Assn employed 70 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 06/2021, Tishomingo Co Electric Power Assn generated $9.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $8.4m during the year ending 06/2021. While expenses have increased by 1.3% 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
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 |
|---|---|---|---|
Tim Wigginton CPA General Mana | Officer | 50 | $140,054 |
Gerald Barnes President | Trustee | 2 | $4,385 |
Brett Malone Treasurer | Trustee | 2 | $4,205 |
Jeff Holt Vice Pres | Trustee | 2 | $3,665 |
Harold Turner Member | Trustee | 2 | $3,665 |
Johnny Sims Member | Trustee | 2 | $3,665 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sdt Solutions Llc Fiber Const | 6/29/21 | $4,144,426 |
Logicomusa Fiber Install | 6/29/21 | $1,068,082 |
Squan Construction Services Engineering | 6/29/21 | $658,910 |
Central Service Association Software Serv | 6/29/21 | $181,105 |
Vanguard Alliance Billing Service | 6/29/21 | $255,175 |
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 | -$1,394,718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $747,218 |
| 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 | $9,655,250 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,007,750 |
| 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. | $188,504 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,521,358 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $143,804 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,150 |
| Fees for services: Accounting | $38,305 |
| 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 | $135,619 |
| 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 | $139,863 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,133,105 |
| Insurance | $0 |
| All other expenses | $210,631 |
| Total functional expenses | $8,402,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,993,018 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,214,720 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $230,819 |
| Inventories for sale or use | $616,466 |
| Prepaid expenses and deferred charges | $221,019 |
| Net Land, buildings, and equipment | $32,087,830 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,998,208 |
| Total assets | $49,362,080 |
| Accounts payable and accrued expenses | $2,139,133 |
| Grants payable | $0 |
| Deferred revenue | $241,834 |
| 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 | $10,330,913 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,358,837 |
| Total liabilities | $19,070,717 |
| 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 | $30,291,363 |
| Total liabilities and net assets/fund balances | $49,362,080 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coahoma Electric Power Assn Lyon, MS | $50,480,063 | $20,605,799 |
City Corporation Russellville, AR | $192,508,552 | $18,660,828 |
Tombigbee Electric Cooperative Inc Hamilton, AL | $70,534,555 | $17,768,087 |
Marshall-Dekalb Electric Cooperative Boaz, AL | $96,065,726 | $18,545,582 |
Alcorn County Electric Power Association Corinth, MS | $107,123,733 | $19,179,595 |
Ashley-Chicot Electric Cooperative Inc Hamburg, AR | $39,523,502 | $11,933,884 |
Farmers Electric Cooperative Corporation Newport, AR | $38,614,201 | $11,561,082 |
Tippah Electric Power Association Ripley, MS | $65,329,925 | $18,280,183 |
Arkansas Utility Protections Service Inc Conway, AR | $5,398,347 | $11,673,030 |
Bear Creek Water Association Inc Madison, MS | $98,155,585 | $12,566,846 |
Chickasaw Electric Cooperative Inc Somerville, TN | $53,475,417 | $11,540,498 |
Franklin Electric Cooperative Russellville, AL | $55,032,541 | $9,493,610 |