Dixie Electric Power Assn FY2020 filing

Not tax-deductible

Laurel, MSMutual-benefit / member-servingSince 1938EIN 64-0183177Revenue $91.7M in FY2020

On file with the IRSdixieepa.comPo Box 88, 39441-0088 · Laurel, MSTax-exempt since Apr 1943

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Dixie Electric Power Assn. Strives to: 1)provide an efficient electrical system 2)support the community through local activities and encourage economic growth 3)offer a productive work environment for its employees 4)continue to meet the ever changing needs of its members through technological advances.

$1.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $1.8M a year · 2% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$125.9M
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$91.7M
Spent
$91.7M
To programs
0%
Net assets
$104.6M
By yearFY2020–FY2024
Revenue
$91.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$91.7M
FY2021$96.5M
FY2022$116.3M
FY2023$128.5M
FY2024$138.6M
Expenses
$91.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$91.7M
FY2021$98.9M
FY2022$119.7M
FY2023$131.1M
FY2024$139.0M
Net assets
$104.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$104.6M
FY2021$104.6M
FY2022$104.5M
FY2023$115.1M
FY2024$125.8M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1943.

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

Who runs it and what they're paid

13 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
General Mana
$241,250Pt VII · Sec A
Operations M
$164,916Pt VII · Sec A
Admin & Fina
$148,435Pt VII · Sec A
IT Manager
$140,305Pt VII · Sec A
Comm. & HR M
$136,143Pt VII · Sec A
System Engin
$127,909Pt VII · Sec A
Director
$12,764Pt VII · Sec A
President
$10,483Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Ralph R Smith$339,713$307,803$269,568$256,253$241,250
Aaron Zumwalt$187,165$177,153$163,842$153,133$148,435
James Grantham$178,395$166,760$148,075$141,590$140,305
Thomas McCarthy—$174,453$148,075$140,903$164,916
Jeremy McAndrew$167,654$154,645$139,776$129,447$127,909
Lydia Walters————$136,143
Floyd Herford—$134,211———
Daniel Wooten——$127,327——

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 15aNo

Programs and updates

Powers communities with electricity, supports local growth, and meets member needs through technology.

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Provided by the organization

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1 program · $91.7M · in their own filed words · FY2020
01

Rural electric distribution cooperative that furnished electric service to 39,546 accounts as of 12/31/19

$91.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$25K
Grants paid · 8 grants · $132K · 2020–2024
Other Less Than 5000FY2024$48,558
Electric Cooperatives of MsMS · FY2024$10,000
Other Less Than 5000FY2023$27,320
Electric Cooperatives of MsMS · FY2023$10,000
Electric Cooperatives of MsMS · FY2022$10,000
Electric Cooperatives of MsMS · FY2021$10,000

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$91.7M
Ln 12
Fees for servicesLn 2g$90.1M
Other incomeLn 4–11$1.5M
Investment incomeLn 3$88K
Money outPt IX
$91.7M
Ln 25
Owns and owesPt X
$104.6M
net assets · Ln 32
Cash and savingsLn 1–2$9.0M
Total assetsLn 16$230.5M
LiabilitiesLn 26$125.9M
PeoplePt VI, VII
13
listed · VII A
PaidVII A13
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$90.1M
Investment incomeLn 3$88K
Other incomeLn 4–11$1.5M
Gains on assetsLn 7$4K
Total revenueLn 12$91.7M
Assets in detailPt X, end of year
CashLn 1$9.0M
Cash and savings togetherLn 1–2$9.0M
Land, buildings, equipmentLn 10c$158.6M
Other assetsLn 15$43.3M
Total assetsLn 16$230.5M
LiabilitiesLn 26$125.9M
Net assetsLn 32$104.6M
OperationsPt I, VI
EmployeesI 5104
Fiscal year endsHeaderDecember
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 FY20End FY20
Cash and savingsLn 1–2$1.8M$9.0M
Land, buildings, equipmentLn 10c$150.4M$158.6M
Total assetsLn 16$207.7M$230.5M
LiabilitiesLn 26$106.8M$125.9M
Net assetsLn 32$100.9M$104.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$45K
Benefits paid to or for membersLn 4$5.1M
Pay of current officers, directors and key staffLn 5$312K
Other salaries and wagesLn 7$5.1M
Pension plan contributionsLn 8$1.8M
Other employee benefitsLn 9$1.7M
Payroll taxesLn 10$532K
Legal feesLn 11b$22K
Accounting feesLn 11c$27K
Other fees for servicesLn 11g$2.5M
Advertising and promotionLn 12$231K
Office expensesLn 13$292K
Information technologyLn 14$632K
RoyaltiesLn 15$79K
OccupancyLn 16$215K
TravelLn 17$35K
Conferences, conventions and meetingsLn 19$13K
InterestLn 20$3.4M
Depreciation, depletion and amortizationLn 22$6.3M
InsuranceLn 23$211K
Other expenses (24a–d)Ln 24$63.0M
Total functional expensesLn 25$91.7M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $138.6M$139.0M−$450K$125.8M 990 PDF
FY2023 $128.5M$131.1M−$2.6M$115.1M 990 PDF
FY2022 $116.3M$119.7M−$3.5M$104.5M 990 PDF
FY2021 $96.5M$98.9M−$2.3M$104.6M 990 PDF
FY2020 Viewing $91.7M$91.7M$0$104.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $91,688,371 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $96,520,367$90,095,235
I-10 Investment incomePrior year $162,485$87,585
I-11 Other revenuePrior year $1,468,441$1,505,551
I-12 Total revenuePrior year $98,151,293$91,688,371
I-13 Grants and similar amounts paidPrior year $34,848$44,685
I-14 Benefits paid to membersPrior year $4,055,073$5,070,383
I-15 Salaries and benefitsPrior year $9,495,707$9,557,212
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $84,565,665$77,016,091
I-18 Total expensesPrior year $98,151,293$91,688,371
I-19 Revenue less expenses$0
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $91,688,371 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $90,095,235$90,095,235
VIII-3 Investment incomeRelated to mission $84,067$84,067
VIII-6 Net rental income or lossRelated to mission $1,505,551$1,505,551
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,518$3,518
VIII-12 Total revenueRelated to mission $91,688,371$91,688,371
Part IX · Statement of functional expenses $91,688,371 across 21 lines filed
IX-1 Grants to domestic organizations$44,685
IX-4 Benefits paid to or for members$5,070,383
IX-5 Pay of current officers, directors and key staff$311,902
IX-7 Other salaries and wages$5,123,571
IX-8 Pension plan contributions$1,843,913
IX-9 Other employee benefits$1,745,920
IX-10 Payroll taxes$531,906
IX-11b Legal fees$22,231
IX-11c Accounting fees$27,169
IX-11g Other fees for services$2,502,863
IX-12 Advertising and promotion$231,247
IX-13 Office expenses$291,781
IX-14 Information technology$632,316
IX-15 Royalties$79,353
IX-16 Occupancy$215,130
IX-17 Travel$34,718
IX-19 Conferences, conventions and meetings$13,005
IX-20 Interest$3,404,882
IX-22 Depreciation, depletion and amortization$6,326,563
IX-23 Insurance$210,898
IX-24 Other expenses (24a–d)$63,023,935
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$91,688,371
Part X · Balance sheet $230,493,381 assets, 12 lines filed
Asset lines not itemized here account for $1,282,940; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,847,340$8,994,605
X-4 Accounts receivableStart of year $4,446,345$6,621,674
X-8 Inventories for sale or useStart of year $2,401,070$4,582,035
X-9 Prepaid expenses and deferred chargesStart of year $6,690,347$7,139,609
X-10c Land, buildings and equipment, netStart of year $150,389,927$158,566,912
X-15 Other assetsStart of year $41,878,191$43,305,606
X-16 Total assetsStart of year $207,653,220$230,493,381
X-17 Accounts payable and accrued expensesStart of year $8,355,862$10,108,499
X-25 Other liabilitiesStart of year $3,064,838$9,094,476
X-26 Total liabilitiesStart of year $106,753,624$125,867,156
X-32 Total net assets or fund balancesStart of year $100,899,596$104,626,225
X-33 Total liabilities and net assetsStart of year $207,653,220$230,493,381
Part XI · Reconciliation of net assets $104,626,225 net assets at year end
XI-1 Total revenue$91,688,371
XI-2 Total expenses$91,688,371
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$100,899,596
XI-9 Other changes in net assets$3,726,629
XI-10 Net assets at end of year$104,626,225

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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