Twin County Electric Power Assn
- Assets
- $72.4m
- Revenue
- $31.6m
- Investments
- $0.0
- Employees
- 67
- Location
- Hollandale, MS
- Founding
- 04/1943
- Data as of
- 12/2022
- EIN
- 64-0256623
Organization Overview
Twin County Electric Power Assn is located in Hollandale, MS. The organization was established in 1943. 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 12/2022, Twin County Electric Power Assn employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin 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 12/2022, Twin County Electric Power Assn generated $31.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $31.6m during the year ending 12/2022. While expenses have increased by 13.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE MOST RELIABLE ELECTRIC SERVICE AT THE LEAST COST POSSIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRICAL SERVICE TO IT MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim W Perkins General Mgr | Officer | 40 | $167,464 |
Daniel B Cochran Branch Manag | 40 | $148,199 | |
Walter M Trawick Purchasing A | 40 | $137,966 | |
Michael Lang Engineering | 40 | $132,919 | |
Thomas Price Branch Manag | 40 | $128,503 | |
Terry E Newton Supt. Oper./ | 40 | $126,756 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
B B Electrical Utility Construction | 12/30/22 | $1,451,911 |
Toten Tree Service Inc Right Of Way Ma | 12/30/22 | $893,456 |
Boarder States Industries Materials | 12/30/22 | $873,410 |
R M Electric Electrical | 12/30/22 | $550,587 |
Gray Power Supply Llc Materials | 12/30/22 | $497,694 |
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 | $30,945,393 |
| Investment income | $79,964 |
| 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 | $31,617,595 |
| 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 | $1,838,179 |
| Compensation of current officers, directors, key employees. | $457,206 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $114,756 |
| Fees for services: Accounting | $22,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $152,761 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,053 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $987,108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,447,390 |
| Insurance | $0 |
| All other expenses | $1,186,153 |
| Total functional expenses | $31,617,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,904,956 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,233,430 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,863,572 |
| Prepaid expenses and deferred charges | $763,594 |
| Net Land, buildings, and equipment | $50,978,892 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,620,232 |
| Total assets | $72,364,676 |
| Accounts payable and accrued expenses | $2,446,556 |
| 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 | $23,045,724 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,111,920 |
| Total liabilities | $28,604,200 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $217,422 |
| Paid-in or capital surplus, or land, building, or equipment fund | $4,966,206 |
| Retained earnings, endowment, accumulated income, or other funds | $38,576,848 |
| Total liabilities and net assets/fund balances | $72,364,676 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Twin County Electric Power Assn has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - THREATEN EXISTENCE UNDER THE COOPERATIVE BUSINESS MODEL | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
4-County Electric Power Association Columbus, MS | $315,642,901 | $133,649,967 |
Beauregard Electric Cooperative Inc Deridder, LA | $317,710,520 | $130,661,746 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Northcentral Electric Cooperative Olive Branch, MS | $185,941,805 | $125,968,963 |
Tombigbee Electric Power Assn Tupelo, MS | $221,161,642 | $118,553,499 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Dixie Electric Power Assn Laurel, MS | $277,061,319 | $96,509,999 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Central Electric Power Association Carthage, MS | $142,416,370 | $101,127,410 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |