Twin County Electric Power Assn
- Assets
- $78.6m
- Revenue
- $32.7m
- Investments
- $0.0
- Employees
- 68
- Location
- Hollandale, MS
- Founding
- 04/1943
- Data as of
- 12/2023
- 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 12/2023, Twin County Electric Power Assn employed 68 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 12/2023, Twin County Electric Power Assn generated $32.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $32.7m during the year ending 12/2023. While expenses have increased by 1.1% 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
2023
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 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim W Perkins General Mgr | Officer | 40 | $163,325 |
Michael Lang Engineering | 40 | $151,126 | |
Walter M Trawick Purchasing A | 40 | $146,059 | |
Daniel B Cochran Branch Manag | 40 | $149,544 | |
Thomas Price Branch Manag | 40 | $139,406 | |
Marcus L Ross Branch Manag | 40 | $141,942 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
B B Electrical Utility Construction | 12/30/23 | $1,716,110 |
Boarder States Industries Materials | 12/30/23 | $1,228,059 |
Gresco Utility Supply Inc Materials | 12/30/23 | $1,072,353 |
Toten Tree Service Inc Right Of Way Ma | 12/30/23 | $949,928 |
R M Electric Construction | 12/30/23 | $809,077 |
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 | $31,990,075 |
| Investment income | $109,099 |
| 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 | $32,700,681 |
| 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 | $1,622,724 |
| Compensation of current officers, directors, key employees. | $533,304 |
| 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 | $69,126 |
| Fees for services: Accounting | $20,253 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,646 |
| Advertising and promotion | $195,696 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $82,583 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,159,650 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,363,218 |
| Insurance | $0 |
| All other expenses | $1,230,304 |
| Total functional expenses | $32,700,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,156,606 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,299,352 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,115,127 |
| Prepaid expenses and deferred charges | $816,144 |
| Net Land, buildings, and equipment | $56,461,991 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,790,882 |
| Total assets | $78,640,102 |
| Accounts payable and accrued expenses | $2,210,118 |
| 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 | $28,822,685 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,087,016 |
| Total liabilities | $34,119,819 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $216,998 |
| Paid-in or capital surplus, or land, building, or equipment fund | $5,553,675 |
| Retained earnings, endowment, accumulated income, or other funds | $38,749,610 |
| Total liabilities and net assets/fund balances | $78,640,102 |