Central Electric Power Association
- Assets
- $141.9m
- Revenue
- $108.9m
- Investments
- $0.0
- Employees
- 140
- Location
- Carthage, MS
- Founding
- 12/1937
- Data as of
- 06/2024
- EIN
- 64-0132702
Organization Overview
Central Electric Power Association is located in Carthage, 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 06/2024, Central Electric Power Association employed 140 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central 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 06/2024, Central Electric Power Association generated $108.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $106.2m during the year ending 06/2024. While expenses have increased by 20.0% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ELECTRICITY IN RURAL MISSISSIPPI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY IN RURAL CENTRAL MISSISSIPPI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Hagan Director | Trustee | 5 | $7,800 |
Pettey Leach President | Trustee | 5 | $7,800 |
Danny Thornton Secretary/treasurer | Trustee | 5 | $7,800 |
Phillip Crosby Director | Trustee | 5 | $7,800 |
Earl Browning Director | Trustee | 5 | $7,800 |
Max Loper Director | Trustee | 5 | $7,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressive Solutions Llc Right Of Way Work | 6/29/24 | $3,124,708 |
Tim Ellingburg Meter Reader | 6/29/24 | $117,894 |
Bradley Watkins Meter Reader | 6/29/24 | $116,612 |
Nick Boykin Meter Reader | 6/29/24 | $114,989 |
Brandon Davis Meter Reader | 6/29/24 | $105,296 |
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 | $107,340,416 |
| Investment income | $1,559,492 |
| 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 | $108,914,730 |
| 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. | $1,496,469 |
| 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 | $217,898 |
| Payroll taxes | $0 |
| 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 | $0 |
| 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 | $713,512 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,818,113 |
| Insurance | $2,601 |
| All other expenses | $2,108,884 |
| Total functional expenses | $106,187,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,714,708 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,048,705 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,804,431 |
| Inventories for sale or use | $3,136,291 |
| Prepaid expenses and deferred charges | $4,331,354 |
| Net Land, buildings, and equipment | $98,560,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,086,342 |
| Intangible assets | $0 |
| Other assets | $4,173,606 |
| Total assets | $141,855,761 |
| Accounts payable and accrued expenses | $11,857,304 |
| 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 | $26,528,311 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $108,059 |
| Total liabilities | $38,493,674 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $690,160 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $102,671,927 |
| Total liabilities and net assets/fund balances | $141,855,761 |