Tombigbee Electric Power Association

Nonprofit profile at a glance

EIN
640254740
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Tupelo, MS, USA
Phone
6628427635
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$136,405,998
Expenses
$132,488,179
Assets
$266,020,791
Liabilities
$139,628,122

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • LYNN TURNER (PRESIDENT)
  • SCOTT HENDRIX (CEO)

Highest reported compensation

  • SCOTT HENDRIX (CEO): $316,735 total reported compensation
  • GREG HOOD (LINEMAN): $161,213 total reported compensation
  • MARK GRAHAM (LINEMAN): $154,309 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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

What it reported doing in 2023

To provide electric power service to members of the association

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 77
  • Accountability: 77
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.2%; rating input score 97
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 78th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.9%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 2.01; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 16.7% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 97.2% of revenue deployed · 100% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $132.5M in reported program spending
  • Leadership: top reported pay $317K · 22 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $11.4M reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 22 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.