Pickwick Electric Cooperative

Not tax-deductible

Selmer, TNMutual-benefit / member-servingSince 1935EIN 62-0325390Revenue $54.0M in FY2025

On file with the IRSpickwick-electric.comPo Box 49, 38375-0049 · Selmer, TNTax-exempt since Dec 1942

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To provide reasonably priced electricity to rural consumers in the tennessee valley region

100¢ of each $1 spent went to programs.
$961K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.2M a year · 2% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$961K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$44.1M
46% of total assets
Looks good: liabilities are 46% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$54.0M
+7% vs prior year
Spent
$52.8M
To programs
100%
Net assets
$52.1M
By yearFY2021–FY2025
Revenue
$54.0M
FY2025▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2021$44.5M
FY2022$47.2M
FY2023$52.0M
FY2024$50.3M
FY2025$54.0M
Expenses
$52.8M
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2021$42.7M
FY2022$46.2M
FY2023$50.1M
FY2024$50.3M
FY2025$52.8M
Net assets
$52.1M
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2021$48.0M
FY2022$49.0M
FY2023$50.8M
FY2024$50.8M
FY2025$52.1M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $52.8M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990; $961K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$208,232Pt VII · Sec A
VP of Finance
$145,208Pt VII · Sec A
VP of Operations
$143,999Pt VII · Sec A
VP of Engineering
$136,588Pt VII · Sec A
VP of Human Resource
$126,276Pt VII · Sec A
Engineering Services Manager
$125,534Pt VII · Sec A
Director
$12,200Pt VII · Sec A
Vice Chairman
$10,200Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
John Bowers$208,232$202,340$195,021$189,051$189,864
Steve King$145,208$151,270$139,129$130,691$130,049
Joseph Lawson$143,999$150,324$134,318$123,629$122,857
Jon Hughes$136,588$142,433$126,637$116,840$116,051
Keith Johnson——$136,261$128,245$128,564
Brad Howell$126,276$122,686$116,872$109,180—
Scotty Ashe$125,534$124,784———
Michael Graber————$116,018

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supplies affordable electricity to rural consumers in the Tennessee Valley.

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Provided by the organization

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1 program · $52.8M · in their own filed words · FY2024
01

Electricity distribution

$52.8Mprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$54.0M
Ln 12
Fees for servicesLn 2g$53.9M
Investment incomeLn 3$137K
Money outPt IX
$52.8M
Ln 25
Programscol B$52.8M
Owns and owesPt X
$52.1M
net assets · Ln 32
Cash and savingsLn 1–2$8.2M
Total assetsLn 16$96.2M
LiabilitiesLn 26$44.1M
PeoplePt VI, VII
15
listed · VII A
PaidVII A15
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$53.9M
Investment incomeLn 3$137K
Total revenueLn 12$54.0M
Assets in detailPt X, end of year
CashLn 1$47K
SavingsLn 2$8.1M
Cash and savings togetherLn 1–2$8.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$82.5M
Other assetsLn 15$1.5M
Total assetsLn 16$96.2M
LiabilitiesLn 26$44.1M
Net assetsLn 32$52.1M
OperationsPt I, VI
EmployeesI 577
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$4.3M$8.2M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$81.1M$82.5M
Total assetsLn 16$91.1M$96.2M
LiabilitiesLn 26$40.2M$44.1M
Net assetsLn 32$50.8M$52.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$977K$977K$0$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$5.6M$5.6M$0$0
Pension plan contributionsLn 8$1.5M$1.5M$0$0
Other employee benefitsLn 9$732K$732K$0$0
Payroll taxesLn 10$502K$502K$0$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$24K$24K$0$0
Accounting feesLn 11c$47K$47K$0$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$27K$27K$0$0
Advertising and promotionLn 12$207K$207K$0$0
Office expensesLn 13$385K$385K$0$0
Information technologyLn 14$0$0$0$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$636K$636K$0$0
TravelLn 17$0$0$0$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
InterestLn 20$1.3M$1.3M$0$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$4.1M$4.1M$0$0
InsuranceLn 23$261K$261K$0$0
Other expenses (24a–d)Ln 24$36.0M$36.0M$0$0
All other expensesLn 24e$390K$390K$0$0
Total functional expensesLn 25$52.8M$52.8M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $54.0M$52.8M$1.3M$52.1M 990 PDF
FY2024 $50.3M$50.3M$11K$50.8M 990 PDF
FY2023 $52.0M$50.1M$1.8M$50.8M 990 PDF
FY2022 $47.2M$46.2M$1.0M$49.0M 990 PDF
FY2021 $44.5M$42.7M$1.8M$48.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $54,032,039 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $50,079,387$53,894,683
I-10 Investment incomePrior year $192,777$137,356
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $50,272,164$54,032,039
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,569,296$9,347,479
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $41,692,062$43,416,640
I-18 Total expensesPrior year $50,261,358$52,764,119
I-19 Revenue less expensesPrior year $10,806$1,267,920
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $54,032,039 across 5 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $53,894,683 · Unrelated business $0 · Excluded from tax $0$53,894,683
VIII-3 Investment incomeRelated to mission $137,356 · Unrelated business $0 · Excluded from tax $0$137,356
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $54,032,039 · Unrelated business $0 · Excluded from tax $0$54,032,039
Part IX · Statement of functional expenses $52,764,119 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $977,233 · Management $0 · Fundraising $0$977,233
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $5,628,124 · Management $0 · Fundraising $0$5,628,124
IX-8 Pension plan contributionsPrograms $1,507,900 · Management $0 · Fundraising $0$1,507,900
IX-9 Other employee benefitsPrograms $731,898 · Management $0 · Fundraising $0$731,898
IX-10 Payroll taxesPrograms $502,324 · Management $0 · Fundraising $0$502,324
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $23,925 · Management $0 · Fundraising $0$23,925
IX-11c Accounting feesPrograms $47,000 · Management $0 · Fundraising $0$47,000
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $27,413 · Management $0 · Fundraising $0$27,413
IX-12 Advertising and promotionPrograms $207,165 · Management $0 · Fundraising $0$207,165
IX-13 Office expensesPrograms $384,514 · Management $0 · Fundraising $0$384,514
IX-14 Information technologyPrograms $0 · Management $0 · Fundraising $0$0
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $636,122 · Management $0 · Fundraising $0$636,122
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$0
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $1,326,826 · Management $0 · Fundraising $0$1,326,826
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $4,123,455 · Management $0 · Fundraising $0$4,123,455
IX-23 InsurancePrograms $261,202 · Management $0 · Fundraising $0$261,202
IX-24 Other expenses (24a–d)Programs $35,989,135 · Management $0 · Fundraising $0$35,989,135
IX-24e All other expensesPrograms $389,883 · Management $0 · Fundraising $0$389,883
IX-25 Total functional expensesPrograms $52,764,119 · Management $0 · Fundraising $0$52,764,119
Part X · Balance sheet $96,217,805 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $181,126$46,731
X-2 Savings and temporary cash investmentsStart of year $4,108,634$8,117,034
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $2,789,911$2,668,366
X-8 Inventories for sale or useStart of year $1,250,776$1,310,961
X-9 Prepaid expenses and deferred chargesStart of year $99,436$83,017
X-10c Land, buildings and equipment, netStart of year $81,113,074$82,507,880
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $1,537,433$1,483,816
X-16 Total assetsStart of year $91,080,390$96,217,805
X-17 Accounts payable and accrued expensesStart of year $9,507,202$9,927,826
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $40,245,103$44,114,028
X-32 Total net assets or fund balancesStart of year $50,835,287$52,103,777
X-33 Total liabilities and net assetsStart of year $91,080,390$96,217,805
Part XI · Reconciliation of net assets $52,103,777 net assets at year end
XI-1 Total revenue$54,032,039
XI-2 Total expenses$52,764,119
XI-3 Revenue less expenses$1,267,920
XI-4 Net assets at start of year$50,835,287
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$570
XI-10 Net assets at end of year$52,103,777

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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