Alcorn County Electric Power Association
- Assets
- $107.1m
- Revenue
- $19.2m
- Investments
- $66.9k
- Employees
- 87
- Location
- Corinth, MS
- Founding
- 02/1937
- Data as of
- 06/2021
- EIN
- 64-0111850
Organization Overview
Alcorn County Electric Power Association is located in Corinth, 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, Alcorn County Electric Power Association employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alcorn County Electric Power Association 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, Alcorn County Electric Power Association generated $19.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $14.8m during the year ending 06/2021. While expenses have increased by 1.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ELECTRICITY TO MEMBERS IN THE ALCORN COUNTY, MS AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRICITY TO APPROXIMATELY 19,000 CUSTOMERS/MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eddie Howard CEO | Officer | 40 | $210,283 |
Jason Grisham COO | Officer | 40 | $186,796 |
Sean Mcgrath CFO | Officer | 40 | $173,315 |
Paul Mcnair Asst. Oper M | 40 | $153,710 | |
Wally Eaton Line Foreman | 40 | $151,667 | |
Trint Baggett System Engin | 40 | $128,597 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Central Service Association Central Service Association Software & Main | 6/29/21 | $199,064 |
Fiberrise Communications Llc Fiberrise Communications Llc Eng. Consulting | 6/29/21 | $2,472,762 |
Asplundh Tree Experts Asplundh Tree Experts Tree Trimming | 6/29/21 | $542,445 |
Brander Group Brander Group It Consulting | 6/29/21 | $253,952 |
Sdt Solutions Llc Sdt Solutions Llc Infrastructure | 6/29/21 | $6,537,293 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $150,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,542,565 |
| 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 | $15,011,008 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,179,595 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $3,379,078 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $984,514 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,322 |
| Fees for services: Accounting | $16,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,030 |
| Advertising and promotion | $0 |
| Office expenses | $1,225,402 |
| 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 | $525,439 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,398,265 |
| Insurance | $383,563 |
| All other expenses | $0 |
| Total functional expenses | $14,838,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,258,804 |
| Savings and temporary cash investments | $2,953,922 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,310,959 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,596,762 |
| Inventories for sale or use | $988,246 |
| Prepaid expenses and deferred charges | $3,161,656 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $66,944 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,118,614 |
| Total assets | $107,123,733 |
| Accounts payable and accrued expenses | $7,827,269 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $590,322 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,260,141 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,719,128 |
| Total liabilities | $38,806,538 |
| 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 |
| Total liabilities and net assets/fund balances | $68,317,195 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Alabama Electric Cooperative Troy, AL | $170,308,337 | $49,282,613 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
C & L Electric Cooperative Corporation Star City, AR | $139,600,891 | $49,154,793 |
Pea River Electric Cooperative Ozark, AL | $110,632,555 | $43,695,201 |
Tennessee Valley Electric Cooperative Savannah, TN | $70,169,300 | $47,105,536 |
Black Warrior Electric Membership Corporation Demopolis, AL | $79,787,919 | $42,843,236 |
Coosa Valley Electric Cooperative Inc Talladega, AL | $137,764,324 | $42,681,564 |
Petit Jean Electric Cooperative Corporation Clinton, AR | $119,449,116 | $40,732,999 |
Plateau Electric Cooperative Oneida, TN | $68,557,070 | $43,303,901 |
Clay County Electric Coop Corp Corning, AR | $144,833,979 | $30,381,421 |
Arab Electric Cooperative Inc Arab, AL | $58,163,411 | $38,555,130 |
Clarke-Washington Electric Membership Corporation Jackson, AL | $110,788,489 | $37,570,610 |