Civic Intelligence

Middle Tennessee Electric Membership Corporation

990 • Fiscal year 2017 • EIN 62-0293472

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 07, 2018

555 New Salem HwyMurfreesboro, TN 37129

(615) 494-1551

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

4th percentile

0.32x

Higher debt load relative to assets than 4% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

3rd percentile

0.33x

Higher debt load relative to revenue than 3% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Net Margin

78th percentile

2.9%

Higher net margin than 78% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

80th percentile

$676,521

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Asset Growth

50th percentile

2.4%

Faster asset growth than 50% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

81st percentile

6.5%

Faster revenue growth than 81% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Assets

Up

$607,900,434

Up $14,321,787 (+2.4%) from 2016

Net Assets

Up

$416,007,194

Up $17,499,691 (+4.4%) from 2016

Liabilities

Down

$191,893,240

Down $3,177,904 (-1.6%) from 2016

Revenue

Up

$577,379,766

Up $35,141,418 (+6.5%) from 2016

Expenses

Up

$560,847,975

Up $28,665,404 (+5.4%) from 2016

Net Income

Up

$16,531,791

Up $6,476,014 (+64%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5B$1.0B$500M$0Assets 2011: $465,771,144Liabilities 2011: $149,505,424Net Assets 2011: $316,265,7202011Assets 2012: $489,359,590Liabilities 2012: $160,839,820Net Assets 2012: $328,519,7702012Assets 2013: $513,280,134Liabilities 2013: $159,656,348Net Assets 2013: $353,623,7862013Assets 2014: $549,778,020Liabilities 2014: $176,153,177Net Assets 2014: $373,624,8432014Assets 2015: $584,782,632Liabilities 2015: $197,298,806Net Assets 2015: $387,483,8262015Assets 2016: $593,578,647Liabilities 2016: $195,071,144Net Assets 2016: $398,507,5032016Assets 2017: $607,900,434Liabilities 2017: $191,893,240Net Assets 2017: $416,007,1942017Assets 2018: $656,499,046Liabilities 2018: $212,698,653Net Assets 2018: $443,800,3932018Assets 2019: $665,120,180Liabilities 2019: $215,678,224Net Assets 2019: $449,441,9562019Assets 2020: $942,303,901Liabilities 2020: $464,503,810Net Assets 2020: $477,800,0912020Assets 2021: $972,885,002Liabilities 2021: $454,175,319Net Assets 2021: $518,709,6832021Assets 2022: $1,060,592,430Liabilities 2022: $483,928,620Net Assets 2022: $576,663,8102022Assets 2023: $1,148,117,576Liabilities 2023: $548,438,314Net Assets 2023: $599,679,2622023Assets 2024: $1,248,197,177Liabilities 2024: $593,828,384Net Assets 2024: $654,368,7932024

Highlighted filing

2017

Assets$607,900,434
Liabilities$191,893,240
Net Assets$416,007,194

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0B$500M$0Expenses 2011: $491,812,5242011Expenses 2012: $488,824,4562012Expenses 2013: $494,437,1342013Revenue 2014: $549,925,882Expenses 2014: $525,266,625Net Income 2014: $24,659,2572014Revenue 2015: $555,995,749Expenses 2015: $543,104,666Net Income 2015: $12,891,0832015Revenue 2016: $542,238,348Expenses 2016: $532,182,571Net Income 2016: $10,055,7772016Revenue 2017: $577,379,766Expenses 2017: $560,847,975Net Income 2017: $16,531,7912017Revenue 2018: $624,241,601Expenses 2018: $624,241,601Net Income 2018: $02018Revenue 2019: $618,622,661Expenses 2019: $618,622,661Net Income 2019: $02019Revenue 2020: $677,185,332Expenses 2020: $677,185,332Net Income 2020: $02020Revenue 2021: $816,151,968Expenses 2021: $816,151,968Net Income 2021: $02021Revenue 2022: $956,556,588Expenses 2022: $956,556,588Net Income 2022: $02022Revenue 2023: $897,322,235Expenses 2023: $897,322,235Net Income 2023: $02023Revenue 2024: $991,192,614Expenses 2024: $991,192,614Net Income 2024: $02024

Highlighted filing

2017

Revenue$577,379,766
Expenses$560,847,975
Net Income$16,531,791
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 7, 2018
Return Version
2016v3.1
Gross Receipts
$581,283,055
Mission and Program Overview

Mission

NONE

Rural electricity distribution.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$424,960,079$444,865,030▲ $19,904,951
Rtn Earn Endowment Incm Other Fnds$398,507,503$416,007,194▲ $17,499,691
Savings and Temporary Cash Investments$67,873,615$69,643,023▲ $1,769,408
Accounts Receivable$38,487,210$37,593,110▼ $894,100
Prepaid Expenses and Deferred Charges$15,269,854$13,339,605▼ $1,930,249
Investments Other Securities$7,695,981$7,878,989▲ $183,008
Other Notes and Loans Receivable, Net$5,181,250$5,677,010▲ $495,760
Cash and Non-Interest-Bearing Accounts$6,311,674$5,222,154▼ $1,089,520
Inventories for Sale or Use$4,496,859$3,751,378▼ $745,481
Total Assets$593,578,647$607,900,434▲ $14,321,787
Other Assets Total$23,302,125$19,930,135▼ $3,371,990
Liabilities
Other Liabilities$70,070,268$74,377,896▲ $4,307,628
Mortgage Notes Payable Secured by Investment Property$67,146,259$61,717,264▼ $5,428,995
Accounts Payable and Accrued Expenses$57,854,617$55,798,080▼ $2,056,537
Total Liabilities$195,071,144$191,893,240▼ $3,177,904
Net Assets / Fund Balance
Total Net Assets Fund Balance$398,507,503$416,007,194▲ $17,499,691
Total Liabilities and Net Assets / Fund Balance$593,578,647$607,900,434▲ $14,321,787

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$340,848,417$130,560,216$471,408,633
Equipment$73,219,363$108,389,839$181,609,202
Buildings$18,469,628$7,073,186$25,542,814
Land$12,327,622-$12,327,622
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chris JonesPresident/ CFT$456,152$220,369$676,521
Chris JonesPresident/ CEO-$428,873$247,648$676,521
Thomas SuggsCOOFT$223,533$215,341$438,874
Daniel DementVP-operationFT$155,086$178,243$333,329
Daniel DementVP-operations-$149,248$50,534$333,329
Bernie SteenVP-financeFT$188,085$34,334$329,200
Gray BatemanVP-human ResFT$185,184$118,273$303,457
Gray BatemanVP-human Resources-$172,415$131,042$303,457
Brad GibsonCcboFT$216,000$59,339$275,339
John FloridaVP-informatiFT$183,071$80,634$263,705
John FloridaVP-information Servi-$170,247$93,458$263,705
Kenneth MaloneElec. Eng. SFT$143,661$117,988$261,649
Kenneth MaloneElec. Eng. Supervis.-$141,684$50,800$261,649
Keith ThomasonVP - EngineeFT$163,748$96,381$260,129
Keith ThomasonVP - Engineering-$155,844$186,147$260,129
Cindy LayneVP - FinanceFT$177,898$58,368$236,266
Cindy LayneVP - Finance/CFO-$166,010$70,256$236,266
Gregory HaleForemanFT$140,479$74,021$227,314
Robert Halbert JrForemanFT$137,781$124,386$212,080
Dane AppalsammyIt App. SupeFT$151,992$44,696$196,688
Dane AppalsammyIt App. Supervisor-$147,399$122,581$196,688
Steve HowardSecurity AdmFT$142,884$48,823$191,707
Steve HowardSecurity Administrat-$140,534$88,105$191,707
Robert WhiteVP-comm/membFT$166,387$6,024$172,411
Robert WhiteVP-comm/member Serv.-$164,632$87,913$172,411
Tom PurkeyBoard Vice CPT$27,475-$27,475
Mike WoodsBoard ChairmPT$27,225-$27,225
David LeeDirectorPT$24,575-$24,575
Ann LittleDirectorPT$23,475-$23,475
GLORIA O' STEENDirectorPT$23,425-$23,425
Charles BowmanDirectorPT$23,225-$23,225
Will JordanDirectorPT$22,375-$22,375
Gordon BoneDirectorPT$21,775-$21,775
Steve SegerBoard SecretPT$21,675-$21,675
James E MillsDirectorPT$21,425-$21,425

Highest Paid Contractors

ContractorServicesLocationCompensation
Service Electric CompanyElec ContractorPO BOX 277790, Atlanta, GA 30384-7790$6,183,004
Asplundh Tree Expert Co INCTree Trimming1700 SOLUTIONS CENTER, Chicago, IL 60677-1700$2,170,833
Smartsoft International INCSoftware Consul405 PARK AVENUE 16TH FLOOR, New York, NY 10022$1,948,251
Trees INCTree TrimmingPO BOX 825124, Philadelphia, PA 19182$1,854,050
Deloitte Consulting LLPIt ConsultingPO BOX 844717, Dallas, TX 75284$1,433,611
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$575,301,674
Investment Income
$947,215
Other Revenue
$1,130,877
Change in Net Assets
$16,531,791

Audited Revenue Reconciliation

Revenue per Audited Statements
$581,255,546
Revenue Not Reported on Financial Statements
$-3,875,780
Other Revenue Adjustments
$-3,875,780
Total Revenue per Audited Statements
$581,255,546
Total Revenue per Form 990
$577,379,766
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$524,915,249
Salaries, Compensation, and Employee Benefits$35,932,726
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$21,963,181
Other Salaries and Wages---$19,536,410
Other Employee Benefits---$6,525,847
Occupancy---$6,029,251
Pension Plan Contributions---$5,247,055
Other Expenses---$4,614,674
Current Officers, Directors, Trustees, and Key Employees---$3,192,356
All Other Expenses---$3,096,326
Office Expenses---$2,794,487
Interest---$2,353,797
Payroll Taxes---$1,431,058
Fees for Services Legal---$69,641
Fees for Services Accounting---$40,250
Total Functional Expenses$0$0$0$560,847,975

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$564,723,755
Expenses per Audited Statements$560,847,975
Total Expenses per Form 990$560,847,975
Expenses Not Reported on Form 990$3,875,780
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$25,500
Total Exempt Function Spending$25,500

Section 527 Organizations

OrganizationLocationAmount
62-0925545Nashville, TN$25,500
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post Retirement Benefit Liability$54,272,296
Customer Deposits$14,093,544
Advances From Tva Cons. Loans$5,011,109
Sales Tax Collections Payable$999,179
Capital Lease$1,768
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

There is only one class of members. All members have the right to elect the members of the board of directors (the governing body of mtemc).

Form 990, Page 6, Part VI, Line 7A

There is only one class of members and all members may vote to fill vacancies on the board of directors. Directors must be members and are elected based on geographical locations as stated in the bylaws. Directors serve three year terms.

Form 990, Page 6, Part VI, Line 7B

The bylaws may be altered, amended or repealed by the members.

Form 990, Page 6, Part VI, Line 11B

After performing an individual review of the form 990, the cfo/vp of finance reviews it with the president and finance committee of the board.

Form 990, Page 6, Part VI, Line 12C

Mtemc has several policies that address conflicts of interest. These policies apply to directors and employees and are renewed on an annual basis. Employees are to report conflicts of interest to their supervisors. When family members of directors or employees seek to do business with mtemc sealed bids are required. The board of directors is responsible for resolving any disputes concerning conflicts of interest.

Form 990, Page 6, Part VI, Line 15A

Compensation of the president is determined by annual review made by the performance and appraisal committee. The committee's recommendation is given to the full board for approval. The evaluation includes salary comparibility data. Board approval is documented in the minutes.

Form 990, Page 6, Part VI, Line 19

The cooperative's bylaws and rules and regulations are made available on our website. Governing documents, conflicts of interest policy(s), and financial statements are available to our members upon request. Summarized financial information is published annually in the tennessee magazine.

Filing and Contact Details

Filer

Filer Name
Middle Tennessee Electric
EIN
62-0293472
Phone
6154941551
Address
555 NEW SALEM HWY, MURFREESBORO, TN 37129

Signing Officer

Name
Chris Jones
Title
President/ CEO
Phone
6154941551
Signed
2018-04-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Jones
Formed
1936
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
436

Preparer

Firm
Winnett Associates Pllc
Address
PO BOX 745, SHELBYVILLE, TN 37162-0745
Preparer
Patrick R Lile
Phone
9316847142
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Amortization of actuarial loss-postretirement bene 967,900

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Rental expenses in part viii line 6b -3,875,780

Schedule D, Page 4, Part XII, Line 2D

Rental expenses in part viii line 6b 3,875,780

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD VICE C
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD CHAIRM
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD SECRET
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT/ C
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP - FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt12COO
IRS990/Form990PartVIISectionAGrp/TitleTxt13CCBO
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP-HUMAN RES
IRS990/Form990PartVIISectionAGrp/TitleTxt15VP-INFORMATI
IRS990/Form990PartVIISectionAGrp/TitleTxt16VP-COMM/MEMB
IRS990/Form990PartVIISectionAGrp/TitleTxt17VP - ENGINEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP-OPERATION
IRS990/Form990PartVIISectionAGrp/TitleTxt19IT APP. SUPE
IRS990/Form990PartVIISectionAGrp/TitleTxt20ELEC. ENG. S
IRS990/Form990PartVIISectionAGrp/TitleTxt21SECURITY ADM
IRS990/Form990PartVIISectionAGrp/TitleTxt22FOREMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt23FOREMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP-FINANCE
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
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IRS990/OtherExpensesGrp/Desc2CUSTOMER ACCOUNTS EXPENSE
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,248$594$654$991$991$0.00
2023Summary only. Only limited summary data is available for this year.$1,148$548$600$897$897$0.00
2022Summary only. Only limited summary data is available for this year.$1,061$484$577$957$957$0.00
2021Summary only. Only limited summary data is available for this year.$973$454$519$816$816$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$942$465$478$677$677$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$665$216$449$619$619$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$656$213$444$624$624$0.00
2017Detailed filing. Detailed filing data is available for this year.$608$192$416$577$561$16.5
2016Detailed filing. Detailed filing data is available for this year.$594$195$399$542$532$10.1
2015Summary only. Only limited summary data is available for this year.$585$197$387$556$543$12.9
2014Detailed filing. Detailed filing data is available for this year.$550$176$374$550$525$24.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$513$160$354$494
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$489$161$329$489
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$466$150$316$492