Civic Intelligence

Northcentral Mississippi Electric Power Assoc

990 • Fiscal year 2023 • EIN 64-0300045

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 26, 2024

Organization ProfileWWW.NORTHCENTRALELECTRIC.COM

View Organization Page

4600 Northcentral WayOlive Branch, MS 38654

(800) 325-8925

Siviq Scores

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

Liabilities / Assets

36th percentile

0.49x

Higher debt load relative to assets than 36% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

16th percentile

0.78x

Higher debt load relative to revenue than 16% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Net Margin

72nd percentile

3.9%

Higher net margin than 72% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

78th percentile

$468,181

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Asset Growth

98th percentile

23%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

13%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$228,436,980

Up $42,495,175 (+23%) from 2022

Net Assets

Up

$117,569,978

Up $2,896,932 (+2.5%) from 2022

Liabilities

Up

$110,867,002

Up $39,598,243 (+56%) from 2022

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin72nd percentile

Revenue

Up

$142,343,736

Up $16,374,773 (+13%) from 2022

Expenses

Up

$136,760,738

Up $20,301,922 (+17%) from 2022

Net Income

Down

$5,582,998

Down $3,927,149 (-41%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$300M$200M$100M$0Assets 2011: $109,756,522Liabilities 2011: $39,495,981Net Assets 2011: $70,260,5412011Assets 2012: $113,282,567Liabilities 2012: $39,555,028Net Assets 2012: $73,727,5392012Assets 2013: $119,402,998Liabilities 2013: $42,524,734Net Assets 2013: $76,878,2642013Assets 2014: $122,143,034Liabilities 2014: $42,187,630Net Assets 2014: $79,955,4042014Assets 2015: $123,052,790Liabilities 2015: $40,800,147Net Assets 2015: $82,252,6432015Assets 2016: $123,718,779Liabilities 2016: $39,955,693Net Assets 2016: $83,763,0862016Assets 2017: $129,420,684Liabilities 2017: $42,754,818Net Assets 2017: $86,665,8662017Assets 2018: $133,079,724Liabilities 2018: $43,545,792Net Assets 2018: $89,533,9322018Assets 2019: $138,659,251Liabilities 2019: $45,672,542Net Assets 2019: $92,986,7092019Assets 2020: $142,576,396Liabilities 2020: $47,751,993Net Assets 2020: $94,824,4032020Assets 2021: $160,612,108Liabilities 2021: $57,061,194Net Assets 2021: $103,550,9142021Assets 2022: $185,941,805Liabilities 2022: $71,268,759Net Assets 2022: $114,673,0462022Assets 2023: $228,436,980Liabilities 2023: $110,867,002Net Assets 2023: $117,569,9782023Assets 2024: $269,722,624Liabilities 2024: $148,259,928Net Assets 2024: $121,462,6962024Assets 2025: $295,152,965Liabilities 2025: $170,122,640Net Assets 2025: $125,030,3252025

Highlighted filing

2023

Assets$228,436,980
Liabilities$110,867,002
Net Assets$117,569,978
Open 2023 Filing

Operations Trend

Revenue Growth85th percentile

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

$200M$150M$100M$50M$0Expenses 2011: $85,924,4862011Revenue 2012: $89,356,181Expenses 2012: $85,904,947Net Income 2012: $3,451,2342012Expenses 2013: $87,329,1932013Revenue 2014: $92,938,987Expenses 2014: $89,882,916Net Income 2014: $3,056,0712014Revenue 2015: $93,345,520Expenses 2015: $91,070,188Net Income 2015: $2,275,3322015Revenue 2016: $92,679,076Expenses 2016: $91,189,288Net Income 2016: $1,489,7882016Revenue 2017: $101,081,057Expenses 2017: $98,204,856Net Income 2017: $2,876,2012017Revenue 2018: $103,053,343Expenses 2018: $100,218,277Net Income 2018: $2,835,0662018Revenue 2019: $104,734,779Expenses 2019: $101,319,051Net Income 2019: $3,415,7282019Revenue 2020: $104,349,184Expenses 2020: $102,547,108Net Income 2020: $1,802,0762020Revenue 2021: $109,044,295Expenses 2021: $100,358,551Net Income 2021: $8,685,7442021Revenue 2022: $125,968,963Expenses 2022: $116,458,816Net Income 2022: $9,510,1472022Revenue 2023: $142,343,736Expenses 2023: $136,760,738Net Income 2023: $5,582,9982023Revenue 2024: $140,220,095Expenses 2024: $136,354,642Net Income 2024: $3,865,4532024Revenue 2025: $151,735,196Expenses 2025: $148,892,479Net Income 2025: $2,842,7172025

Highlighted filing

2023

Revenue$142,343,736
Expenses$136,760,738
Net Income$5,582,998
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 26, 2024
Return Version
2022v5.0
Gross Receipts
$142,343,736
Mission and Program Overview

Mission

To provide low cost electric power to cooperative members.

To bring safe, reliable, and affordable power to customers in a courteous and timely manner.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$140,734,908$171,122,578▲ $30,387,670
Rtn Earn Endowment Incm Other Fnds$113,251,799$116,118,781▲ $2,866,982
Accounts Receivable$13,422,701$14,562,772▲ $1,140,071
Cash and Non-Interest-Bearing Accounts$8,706,641$8,744,157▲ $37,516
Investments Other Securities$3,502,314$4,226,121▲ $723,807
Inventories for Sale or Use$1,917,644$2,322,655▲ $405,011
Cap Stk Tr Prin Current Funds$1,421,247$1,451,197▲ $29,950
Prepaid Expenses and Deferred Charges$400,367$139,617▼ $260,750
Total Assets$185,941,805$228,436,980▲ $42,495,175
Other Assets Total$17,257,230$27,319,080▲ $10,061,850
Liabilities
Mortgage Notes Payable Secured by Investment Property$38,210,240$60,073,843▲ $21,863,603
Accounts Payable and Accrued Expenses$22,326,654$24,586,987▲ $2,260,333
Unsecured Notes Loans Payable$3,000,000$17,000,000▲ $14,000,000
Other Liabilities$7,731,865$9,206,172▲ $1,474,307
Total Liabilities$71,268,759$110,867,002▲ $39,598,243
Net Assets / Fund Balance
Total Net Assets Fund Balance$114,673,046$117,569,978▲ $2,896,932
Total Liabilities and Net Assets / Fund Balance$185,941,805$228,436,980▲ $42,495,175

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$135,317,574$62,635,087$197,952,661
Other Land Buildings$21,081,331$6,083,539$27,164,870
Buildings$12,320,775$3,707,246$16,028,021
Land$2,402,898-$2,402,898
Other Assets Org$42,446--
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
William K DoddridgeGeneral ManaPT$362,382$105,799$468,181
William K DoddridgeGeneral Manager-$362,382$105,799$468,181
Mark NicholsDirector ofPT$203,229$68,402$271,631
Mark NicholsDirector of Finance-$203,229$68,402$271,631
Larry JohnsonDirector ofFT$195,654$69,807$265,461
Larry JohnsonDirector of Engineer-$195,654$69,807$265,461
Jonathan CoxDirector ofFT$182,843$66,432$249,275
Jonathan CoxDirector of Safety-$182,843$66,432$249,275
Jake BellipanniDirector ofPT$177,850$66,432$244,282
Jake BellipanniDirector of Marketin-$177,850$66,432$244,282
Darin FarleyDirector ofFT$166,031$57,155$223,186
Darin FarleyDirector of Construc-$166,031$57,155$223,186
Pat WoodsPresident-$25,750-$25,750
Ricky JonesBoard MemberPT$24,750-$24,750
Julie NiblettBoard MemberPT$24,250-$24,250
Tony TaylorBoard MemberPT$23,750-$23,750
Jerry NicholsVice Preside-$23,750-$23,750
Don DickersonSecretary-$21,750-$21,750
Morris ThompsonBoard Member-$21,750-$21,750
Phil LachausseeBoard Member-$21,250-$21,250
Joan ChildressBoard Member-$12,750-$12,750
Kimberly GordonBoard Member-$2,500-$2,500

Highest Paid Contractors

ContractorServicesLocationCompensation
Dogwood Tree ServiceTree Service5 PINEDALE CV, Maelvale, AR 72103$4,547,240
Henkels & Mccoy INCEngineering985 JOLLY ROAD, Blue Bell, PA 19422$3,079,999
Mdr Construction INCElectric Line621 EAST BAYLIS CHAPEL ROAD, Columbia, MS 39429$2,920,121
Vantage Point Soluctions INCFiber Design2211 NORTH MINNESOTA STREET, Mitchell, SD 57301$2,781,796
Desoto County Electric INCElectric Line2298 NAIL ROAD, Horn Lake, MS 38637$1,823,261
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$140,250,900
Investment Income
$713,531
Other Revenue
$1,379,305
Change in Net Assets
$5,582,998

Audited Revenue Reconciliation

Revenue per Audited Statements
$142,343,736
Total Revenue per Audited Statements
$142,343,736
Total Revenue per Form 990
$142,343,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$131,118,012
Salaries, Compensation, and Employee Benefits$5,642,726
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$8,336,205--$8,336,205
Other Salaries and Wages$4,689,087--$4,689,087
All Other Expenses$4,397,350--$4,397,350
Interest$2,412,753--$2,412,753
Other Expenses$1,756,287--$1,756,287
Office Expenses$1,125,797--$1,125,797
Pension Plan Contributions$953,639--$953,639
Total Functional Expenses$136,760,738$0$0$136,760,738

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$136,760,738
Total Expenses per Audited Statements$136,760,738
Total Expenses per Form 990$136,760,738
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Deposits$6,857,510
Other Current & Accrued Liabilities$2,334,466
Conservation - Tva$14,196
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Members of the cooperative are users of electricity produced.”

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

“A general election is held to elect the board and officers.”

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

“A copy of the 990 is provided to the board for review prior to filing the return.”

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

“The board of directors decides the executive director's compensation amount.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Northcentral Electric Cooperative
EIN
64-0300045
Phone
8003258925
Address
4600 NORTHCENTRAL WAY, OLIVE BRANCH, MS 38654

Signing Officer

Name
William K Doddridge
Title
General Manager
Phone
8003258925
Signed
2024-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William K Doddridge
Formed
1950
Legal Domicile
Ms
Voting Board Members
9
Independent Board Members
9
Employees
133

Preparer

Firm
Franks Franks Wilemon & Hagood Pa
Address
PO BOX 731, TUPELO, MS 38802-0731
Preparer
Jonathan Hagood
Phone
6628445226
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Change in investment of members 29,950 unrelated business book depreciation 0 prior period adjustment n/p -2,716,016 total -2,686,066”

Raw XML AppendixShowing 400 of 553 raw XML fields

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/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfficerNm0WILLIAM K DODDRIDGE
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$228,436,980
Liabilities
$110,867,002
Net assets
$117,569,978
Revenue
$142,343,736
Expenses
$136,760,738
Net income
$5,582,998
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$295$170$125$152$149$2.84
2024Detailed filing. Detailed filing data is available for this year.$270$148$121$140$136$3.87
2023Detailed filing. Detailed filing data is available for this year.$228$111$118$142$137$5.58
2022Detailed filing. Detailed filing data is available for this year.$186$71.3$115$126$116$9.51
2021Detailed filing. Detailed filing data is available for this year.$161$57.1$104$109$100$8.69
2020Detailed filing. Detailed filing data is available for this year.$143$47.8$94.8$104$103$1.80
2019Detailed filing. Detailed filing data is available for this year.$139$45.7$93.0$105$101$3.42
2018Detailed filing. Detailed filing data is available for this year.$133$43.5$89.5$103$100$2.84
2017Detailed filing. Detailed filing data is available for this year.$129$42.8$86.7$101$98.2$2.88
2016Detailed filing. Detailed filing data is available for this year.$124$40.0$83.8$92.7$91.2$1.49
2015Detailed filing. Detailed filing data is available for this year.$123$40.8$82.3$93.3$91.1$2.28
2014Detailed filing. Detailed filing data is available for this year.$122$42.2$80.0$92.9$89.9$3.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$119$42.5$76.9$87.3
2012Summary only. Only limited summary data is available for this year.$113$39.6$73.7$89.4$85.9$3.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$39.5$70.3$85.9