Meriwether Lewis Electric Cooperative
- Assets
- $179.5m
- Revenue
- $119.6m
- Investments
- $1.3m
- Employees
- 110
- Location
- Centerville, TN
- Founding
- 11/1942
- Data as of
- 06/2022
- EIN
- 62-0292655
Organization Overview
Meriwether Lewis Electric Cooperative is located in Centerville, TN. The organization was established in 1942. 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, Meriwether Lewis Electric Cooperative employed 110 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meriwether Lewis Electric Cooperative 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, Meriwether Lewis Electric Cooperative generated $119.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $116.7m during the year ending 06/2022. While expenses have increased by 2.9% 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
RURAL ELECTRICITY DISTRIBUTION AND BROADBAND INTERNET AND COMMUNICATION SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRICITY DISTRIBUTION TO 35,342 MEMBERS LOCATED IN HICKMAN, HOUSTON, HUMPHREYS, LEWIS, AND PERRY COUNTIES IN MIDDLE TENNESSEE.
PROVISION OF BROADBAND INTERNET AND COMMUNICATION SERVICES VIA FIBER OPTIC NETWORK TO RURAL HOMES AND BUSINESSES IN THE COOPERATIVE'S SERVICE AREA. THE ORGANIZATION HAD CONNECTED 10,315 CUSTOMERS AS OF 6/30/2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Carnahan President An | Officer | 55 | $252,773 |
Ken Little Vp-Emerg. Te | Officer | 50 | $156,115 |
Miranda Mccaleb Vp-Employee/ | Officer | 56 | $154,298 |
Shane Mccrory Vp-Info Tech | Officer | 54 | $153,821 |
Edward W Greenwell Vp-Oper. & E | Officer | 50 | $141,892 |
Derle Hill Employee | 50 | $138,198 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gunnison Tree Services Llc Contract Line C | 6/29/22 | $526,404 |
Fiber-rise Communication Llc Fiber Network | 6/29/22 | $2,486,408 |
Heritage Communications Llc Fiber Network | 6/29/22 | $10,088,488 |
Trees Inc Contract R-o-w | 6/29/22 | $2,669,754 |
Service Electric Company Contract Line | 6/29/22 | $2,401,957 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $301,805 |
| 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 | $301,805 |
| Total Program Service Revenue | $119,124,499 |
| Investment income | $194,735 |
| 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 | $119,621,039 |
| 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. | $1,921,346 |
| 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 | $11,330 |
| Fees for services: Accounting | $30,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,492 |
| Advertising and promotion | $75,006 |
| Office expenses | $79,280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $452,992 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,561 |
| Interest | $1,692,660 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,556,058 |
| Insurance | $86,352 |
| All other expenses | $5,080,844 |
| Total functional expenses | $116,651,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $838,921 |
| Savings and temporary cash investments | $402,269 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,605,673 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,551,916 |
| Inventories for sale or use | $1,119,251 |
| Prepaid expenses and deferred charges | $54,458 |
| Net Land, buildings, and equipment | $161,713,818 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,300,414 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,899,531 |
| Total assets | $179,486,251 |
| Accounts payable and accrued expenses | $27,979,047 |
| 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 | $72,999,190 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,078,096 |
| Total liabilities | $108,056,333 |
| 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 | $144,535 |
| Retained earnings, endowment, accumulated income, or other funds | $71,285,383 |
| Total liabilities and net assets/fund balances | $179,486,251 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |