2023-11-10T08:53:11-06:00 2022-12-31 FORVIS LLP PO BOX 3667 LITTLE ROCK AR 722033667 990 2022-01-01 710122860 MISSISSIPPI COUNTY ELECTRIC COOPERATIVE INC % BRAD HARRISON MISS 8707634563 PO BOX 7 BLYTHEVILLE AR 723160007 BRAD HARRISON PRESIDENT/CEO 8707634563 2023-09-22 true BRAD HARRISON 000000000 AMBER SHERRILL P00748683 5013721040 2 2022 2023-04-26 12:10:37Z BRAD HARRISON 474 E STATE HWY 18 BLYTHEVILLE AR 72315 230738112 false X WWW.MCECI.COM X 1938 AR IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS BY PROVIDING SAFE, RELIABLE, AND AFFORDABLE ELECTRICITY. 5 5 26 0 -9552528 0 0 0 212471269 228648708 501387 752200 634890 -9586670 213607546 219814238 7381 8809 4655774 6165607 2269621 2329518 0 0 0 208867578 225160324 215800354 233664258 -2192808 -13850020 148581171 158984547 65280932 73002592 83300239 85981955 TO PROVIDE ELECTRIC UTILITY SERVICE TO THE COOPERATIVE'S 2,903 MEMBERS AND ANY POTENTIAL MEMBERS WITHIN THE COOPERATIVE'S ALLOCATED TERRITORY. false false PROVIDED 3,259,194,011 KWH TO 4,886 ACCOUNTS. false false false false false false false false false true false true false true false false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true 31 0 true 26 true true true false false false false 226755912 3968856 false false false X 5 5 false false false false true true false true true false false true true true true true true true true false AR X BRAD HARRISON 8707634563 PO BOX 7 BLYTHEVILLE AR 72316 X BRAD HARRISON PRESIDENT/CEO 35.0 15.0 X 288568 0 137752 BRANDON JENKINS VP FINANCE & ADMINISTRATION 35.0 15.0 X 142654 0 73634 KODY GALLANT FIBER SERVICES SUPERVISOR 35.0 15.0 X 121338 0 60051 LEON TYE CONSTRUCTION SUPERVISOR 42.87 0.0 X 112588 0 60632 TOMMY JONES OPERATIONS SUPERVISOR 41.0 0.0 X 108740 0 56846 MICHAEL BRIDGES LINEMAN 42.8 0.0 X 100854 0 36185 JUSTIN KNIGHT LINEMAN 44.35 0.0 X 105661 0 30510 CHARLES BROWN DIRECTOR 10.3 5.0 X 26940 4800 0 ROBERT L DAVIS DIRECTOR 10.3 5.0 X 26940 4800 0 DIANA HOLMES SECRETARY/TREASURER 10.3 5.0 X X 26911 4800 0 NEIL BURGE CHAIRMAN 10.3 5.0 X X 24480 4800 0 DAVID WILDY VICE-CHAIRMAN 10.3 5.0 X X 24140 4000 0 1109814 23200 455610 7 false true false CONEXON LLC 2001 GRAND BLVD STE 700 KANSAS CITY MO 64108 FIBER DESIGN-SERVICE 612060 HIGHLAND CABLING LLC 1121 APPLEGATE ST SIKESTON MO 63801 INSTALLATION TECH. 847341 2 X 0 SALE OF ELECTRIC ENERGY 221000 226392063 226392063 PATRONAGE CAPITAL 221000 2256645 2256645 228648708 752200 47486 704714 0 0 1323860 13344 10923874 -9600014 13344 -9586670 -9600014 13344 0 0 0 0 0 0 0 0 0 0 0 219814238 228648708 -9552528 718058 X 8809 0 0 6165607 772019 0 1161397 243000 18912 134190 0 0 131789 0 0 0 221339 0 215740 181434 0 0 0 0 5420 1527461 0 2242553 5582 COST OF POWER 217826700 DIST. EXPENSE - MAINTENANCE 1240601 CUSTOMER ACCOUNTS EXPENSE 458991 DIST. EXPENSE - OPERATION 411358 691356 233664258 1779420 1631526 5665855 4191758 0 0 22408585 27485257 0 0 0 0 1250000 1100000 2778145 3138936 139366 124466 103077356 18741675 77368145 84335681 0 0 0 0 37191655 36976923 0 0 0 0 148581171 158984547 19051383 22782679 0 0 0 0 0 0 0 0 0 0 40842079 44805080 0 0 5387470 5414833 65280932 73002592 X 0 0 0 0 83300239 85981955 83300239 85981955 148581171 158984547 X -13850020 16531736 X false true X false false 498089 498089 10788747 688037 10100710 66866113 18053638 48812475 24924407 24924407 84335681 ARK. ELEC COOP PATRONAGE CAP. 36702672 C NRUCFC MEMBERSHIP 1000 C NFUCFC CAPITAL TERM CERT. 244953 C CRC MEMBERSHIP 2500 C HOMESTEAD FUND DEFERRED COMP. 23298 C MEMBERSHIP TOUCHTONE 2500 C 36976923 0 ACCUM PROV FOR PENSIONS & BENE 2924491 CONSUMER DEPOSITS 148531 INVESTMENT IN SUBSIDIARY 2341811 5414833 229406727 10923874 10923874 218482853 1331385 1331385 219814238 226167266 226167266 7496992 7496992 233664258 FORM 990, SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. FORM 990, SCHEDULE D, PART XI, LINE 2D BOOK TO TAX DEPRECIATION DIFFERENCE 10,876,388 UBI INTEREST INCOME 47,486 -------------------------------------------------------- TOTAL $10,923,874 FORM 990, SCHEDULE D, PART XI, LINE 4B REVENUES INCLUDED IN EXPENSE PER AUDIT $1,331,385 FORM 990, SCHEDULE D, PART XII, LINE 4B 2022 PATRONAGE ALLOCATED TO MEMBERS $6,165,607 REVENUES INCLUDED IN EXPENSE PER AUDIT $1,331,385 ------------------------------------------------------- TOTAL $7,496,992 X false true X X false false false BRAD HARRISON PRESIDENT/CEO 270080 0 5000 0 13488 0 119295 0 18457 0 426320 0 0 0 BRANDON JENKINS VP FINANCE & ADMINISTRATION 130651 0 5000 0 7003 0 56519 0 17115 0 216288 0 0 0 KODY GALLANT FIBER SERVICES SUPERVISOR 63427 0 5000 0 52911 0 48696 0 11355 0 181389 0 0 0 TOMMY JONES OPERATIONS SUPERVISOR 104375 0 2928 0 1437 0 45557 0 11289 0 165586 0 0 0 LEON TYE CONSTRUCTION SUPERVISOR 109026 0 2815 0 747 0 43792 0 16840 0 173220 0 0 0 SCHEDULE J, PART I, LINE 1A BRAD HARRISON, PRESIDENT/CEO WAS REIMBURSED FOR ANNUAL MEMBERSHIP DUES TO BLYTHEVILLE COUNTRY CLUB. THE COMPENSATION WAS TAXABLE. FORM 990, PART VI, SECTION A, LINE 6 THERE IS ONLY ONE CLASS OF MEMBERS. ALL MEMBERS HAVE ONE VOTE EACH. THE MEMBERS ELECT THE GOVERNING BODY AND APPROVE WHETHER THE COMPANY CAN BE SOLD. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONLY ONE CLASS OF MEMBERS. ALL MEMBERS HAVE ONE VOTE EACH. THE MEMBERS ELECT THE GOVERNING BODY AND APPROVE WHETHER THE COMPANY CAN BE SOLD. FORM 990, PART VI, SECTION B, LINE 11B THE V.P. OF FINANCE AND ADMINISTRATION, AS WELL AS, BOARD MEMBERS REVIEW FORM 990 BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANY INDIVIDUAL BOARD OF DIRECTOR OR EMPLOYEE WHO BELIEVES THAT THEY OR AN IMMEDIATE MEMBER OF THEIR FAMILY MIGHT HAVE A REAL OR APPARENT CONFLICT OF INTEREST IS TO FILE A NOTICE OF DISCLOSURE AS WELL AS ABSTAIN FROM: PARTICIPATING IN DISCUSSIONS WITH RESPECT TO THE SUBJECT OF THE CONFLICT, USING PERSONAL INFLUENCE TO AFFECT DELIBERATIONS, MAKING MOTIONS, VOTING, EXECUTING AGREEMENTS, OR TAKING ACTIONS ON BEHALF OF THE ORGANIZATION WHERE THE CONFLICT OF INTEREST MIGHT PERTAIN BY LAW, AGREEMENT OR OTHERWISE. ALL DISCLOSURES OF REAL OR APPARENT CONFLICT SHALL BE NOTED IN THE MINUTES OF THE BOARD OF DIRECTORS. AT THE DISCRETION OF THE BOARD OF DIRECTORS OR THE PRESIDENT/CEO, A PERSON WITH A REAL OR APPARENT CONFLICT OF INTEREST MAY BE EXCUSED FROM ALL OR A PORTION OF DISCUSSION OR DELIBERATIONS WITH RESPECT TO THE SUBJECT OF THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION OF THE CEO. THE BOARD REFERENCES NRECA'S SALARY SURVEY AND COMPARES THE SALARY TO STATE ORGANIZATIONS WHEN MAKING THE DETERMINATION. THE BOARD'S LAST REFERENCE TO THE NRECA'S SALARY SURVEY WAS IN 2022. FORM 990, PART VI, SECTION B, LINE 15B CONSIDERATION FOR OFFICERS IS COMPARED TO THE NRECA SALARY SURVEY TO DETERMINE IF THEY ARE WITHIN AN ACCEPTABLE SALARY RANGE. THE BOARD'S LAST REFERENCE TO THE NRECA'S SALARY SURVEY WAS IN 2022. THE CEO MAKES THE DETERMINATION TO RAISE THE SALARY WITHIN THE APPROPRIATE RANGE. AN ANNUAL COST OF LIVING ADJUSTMENT IS CALCULATED BY THE CEO AND VICE PRESIDENT OF FINANCE AND ADMINISTRATION USING INFLATION AND THE COST OF LIVING ADJUSTMENT FOR SOCIAL SECURITY. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VIII, LINE 6 THE AMOUNT LISTED AS PERSONAL PROPERTY RENT IS POLE RENTAL INCOME AND IS EXCLUDED FROM UNRELATED BUSINESS INCOME. FORM 990, PART IX, LINE 4 AMOUNT NOTED ON THIS LINE RELATES TO PATRONAGE DIVIDENDS ALLOCATED AFTER 2022 YEAR END FOR THE 2022 YEAR. FORM 990, PART XI, LINE 9 PATRONAGE ALLOCATED $ 6,165,607 INCREASE IN RETIRED CAPITAL CREDITS 69,071 CHANGE IN MEMBERSHIP FEES (540) RETIREMENT OF CAPITAL CREDITS (1,499,996) CHANGE IN FUNDED STATUS OF POSTRETIREMENT BENEFIT OBLIGATIONS 873,720 BOOK TO TAX DEPRECIATION DIFFERENCE 10,876,388 UBI INTEREST EXPENSE 47,486 ----------------- OTHER CHANGES IN NET ASSETS $ 16,531,736 FORM 990, PAGE 1, PART I, LINES 14 & 19 THE ORGANIZATION DOES NOT ALLOCATE GENERATION & TRANSMISSION (G&T) CAPITAL CREDITS UNTIL THE YEAR THEY ARE PAID IN CASH TO THE ORGANIZATION. ONCE THE ORGANIZATION RECEIVES THE CAPITAL CREDIT CASH PAYMENT, THE CAPITAL CREDIT RETIREMENT IS PAID OUT IN THE SAME ROTATION AS THE ORGANIZATIONS PATRONAGE CAPITAL. BELOW IS A RECONCILIATION OF NET MARGIN TO CURRENT YEAR CAPITAL CREDITS AND PATRONAGE ALLOCATED: NET MARGIN 12/31/2022 BEFORE G&T AND PATRONAGE ALLOCATION $3,239,461 G&T CAPITAL CREDITS ALLOCATIONS FOR 2022 (0) INTEREST AND DIVIDEND INCOME 752,200 G&T CAPITAL CREDITS RETIRED IN CASH IN 2022 2,173,946 ---------------- PATRONAGE ALLOCATED TO MEMBERS FOR 2022 (LINE 14) 6,165,607 G&T CAPITAL CREDITS ALLOCATIONS FOR 2022 0 INTEREST AND DIVIDEND INCOME (752,200) G&T CAPITAL CREDITS RETIRED IN CASH IN 2021 (2,173,946) BOOK TO TAX DEPRECIATION DIFFERENCE (10,876,388) UBI INTEREST EXPENSE (47,486) ----------------- REVENUE LESS EXPENSES (LINE 19) (13,850,020) MCEC FIBER INC PO BOX 7 BLYTHEVILLE AR 72316 845005438 INTERNET/PHONE AR MCEC C CORPORATION 1676771 4220465 1.00000 true true false false true false false false false false false false false false false true true true false false MCEC FIBER A 1371346 FMV MCEC FIBER D 1100000 FMV