Tombigbee Electric Power Assn
- Assets
- $259.8m
- Revenue
- $138.0m
- Investments
- $4.4m
- Employees
- 202
- Location
- Tupelo, MS
- Founding
- 02/1937
- Data as of
- 06/2023
- EIN
- 64-0254740
Organization Overview
Tombigbee Electric Power Assn is located in Tupelo, 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 06/2023, Tombigbee Electric Power Assn employed 202 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tombigbee 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 06/2023, Tombigbee Electric Power Assn generated $138.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.4% each year . All expenses for the organization totaled $136.9m during the year ending 06/2023. While expenses have increased by 24.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC POWER SERVICE TO MEMBERS OF THE ASSOCIATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC POWER SERVICE TO MEMBERS OF THE ASSOCIATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Hendrix CEO | Officer | 40 | $288,723 |
Greg Hood Lineman | 40 | $140,530 | |
Brock Pearce Lineman | 40 | $133,037 | |
Bruce Williams CFO | Officer | 40 | $119,208 |
Fg Wiyguljr President | OfficerTrustee | 20 | $2,500 |
Donald Knight Secretary/ T | OfficerTrustee | 10 | $2,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bts Fiber Const. | 6/29/23 | $21,086,216 |
Cuii Fiber Install | 6/29/23 | $5,553,231 |
Mdr Construction Inc Make Ready Cons | 6/29/23 | $3,969,324 |
Conexon Llc Fiber Design | 6/29/23 | $2,721,094 |
Techserve Engineering | 6/29/23 | $430,023 |
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 | $127,816,196 |
| Investment income | $1,501,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,160,347 |
| 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 | $137,961,988 |
| 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 | $8,290,924 |
| Pension plan accruals and contributions | $1,738,138 |
| Other employee benefits | $0 |
| Payroll taxes | $8,781 |
| 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 | $670,413 |
| 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 | $4,237,173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,873,556 |
| Insurance | $267,276 |
| All other expenses | $2,463,910 |
| Total functional expenses | $136,902,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,777,237 |
| Savings and temporary cash investments | $2,147,854 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,362,762 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $339,321 |
| Inventories for sale or use | $3,596,500 |
| Prepaid expenses and deferred charges | $536,485 |
| Net Land, buildings, and equipment | $223,710,917 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,355,585 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $259,826,661 |
| Accounts payable and accrued expenses | $35,967,624 |
| 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 | $92,280,419 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,107,008 |
| Total liabilities | $137,355,051 |
| 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 | $4,449,887 |
| Retained earnings, endowment, accumulated income, or other funds | $118,021,723 |
| Total liabilities and net assets/fund balances | $259,826,661 |