2025-05-05T13:10:51-05:00 2024-06-30 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2023-07-01 640211938 NATCHEZ TRACE ELECTRIC POWER ASSOCIATION NATC 6624563037 PO BOX 609 HOUSTON MS 38851 SHAWN EDMONDSON GENERAL MANAGER 6624563037 2025-05-02 1 0 PAT COOPER P00856177 8067473806 2025-05-02 2023 2025-03-06 01:10:19Z SHAWN EDMONDSON PO BOX 609 HOUSTON MS 38851 42913936 0 X WWW.NTEPA.COM X 1939 MS TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS. 9 9 77 0 2194615 0 0 0 42066679 40616484 319142 528323 0 1769129 42385821 42913936 0 0 0 0 425749 5241459 0 0 0 40197632 35878546 40623381 41120005 1762440 1793931 114135871 115745416 49275272 46956655 64860599 68788761 THE MISSION OF NATCHEZ TRACE ELECTRIC POWER ASSOCIATION SHALL BE TO PROVIDE HIGHLY RELIABLE ENERGY SERVICE TO ITS MEMBER-OWNERS AT THE LOWEST COST POSSIBLE, CONSISTENT WITH SOUND BUSINESS PRACTICES. 0 0 SALE OF ELECTRIC POWER TO OUR MEMBERS AT COST ON COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 16,164 CONNECTED MEMBERS AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 10 0 77 1 1 1 0 0 0 0 38543879 2636284 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MILLER DENDY CFO 6624563037 PO BOX 609 HOUSTON MS 38851 X KENNETH LINTON DIRECTOR 2.00 X 10725 0 0 MIKE WADE PRESIDENT 2.00 X X 12425 0 0 JIMMY BALL VICE PRESIDENT 2.00 X X 11225 0 0 EARLINE WILSON DIRECTOR 2.00 X 1650 0 0 TERRY WILLS DIRECTOR 2.00 X 10725 0 0 DANNY ELLISON DIRECTOR 2.00 X 11225 0 0 SHEILA FREELY DIRECTOR 2.00 X 11725 0 0 JACQUELINE STRONG DIRECTOR 2.00 X 7775 0 0 ROBERT HARRINGTON DIRECTOR 2.00 X 11225 0 0 JOE HAYS DIRECTOR 2.00 X 11875 0 0 SHAWN EDMONDSON CHIEF EXECUTIVE OFFICER 55.00 X 179663 0 39707 MILLER DENDY CHIEF FINANCIAL OFFICER 50.00 X 129779 0 33694 MATT HODGES SYSTEM ENGINEER 55.00 X 114118 0 22960 DARYL LOVE DISTRICT MANAGER - CALHOUN CITY 50.00 X 107277 0 22159 BRIAN CRUMP SAFETY DIRECTOR 50.00 X 103910 0 27222 CRAIG MCCLUSKEY DISTRICT MANAGER - EUPHORA 50.00 X 102444 0 25227 THOMAS WHITTEN LINE FOREMAN 55.00 X 102080 0 15728 939846 0 186697 9 0 1 0 DANAE HORTON 2898 HWY 346 PONTOTOC MS 38863 ACCOUNTING SERVICES 124369 1 X SALES OF ELECTRICITY 221000 37909206 37909206 LEASE AGREEMENT 221000 2107961 2107961 OTHER PROGRAM REVENUE 221000 268497 268497 SERVICE FEES 221000 237804 237804 PATRONAGE DIVIDENDS 221000 93016 93016 40616484 528323 86654 441669 POLE ATTACHMENT 221000 1769129 1769129 1769129 42913936 38508523 2194615 2210798 X 483418 3127557 469330 882216 278938 1784119 4580908 PUCHASED POWER 26929245 DISTRIBUTION EXPENSE 2097964 TAXES 247778 ADMIN & GENERAL EXPENSE 157636 80896 41120005 1975651 707922 4224421 6888339 3148870 1021976 1074289 6489260 6701640 145686959 46815137 98418350 98871822 -1160267 1202844 17610 298560 114135871 115745416 3974625 4106591 58966 55204 41598198 39200383 3643483 3594477 49275272 46956655 X 0 125020 0 0 64860599 68663741 64860599 68788761 114135871 115745416 X 1793931 2134231 X X 0 1 X 1 0 1178483 1178483 1358505 723461 635044 138977756 46091676 92886080 4172215 4172215 98871822 CUSTOMER DEPOSITS 2033259 POST RETIREMENT BENEFITS 1559975 ADVANCES FOR ENERGY CONSERVATION 1243 3594477 X 42907865 0 42907865 6071 6071 42913936 41113934 0 41113934 6071 6071 41120005 PART X, LINE 2: THE AGENCY BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE AGENCY'S FORM 990'S ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFY NON-OPERATING EXPENSES TO PART IX 6,071. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFY NON-OPERATING EXPENSES TO PART IX 6,071. X X 0 0 0 SHAWN EDMONDSON CHIEF EXECUTIVE OFFICER 179663 0 0 0 0 0 34603 0 5104 0 219370 0 0 0 MILLER DENDY CHIEF FINANCIAL OFFICER 129779 0 0 0 0 0 26517 0 7177 0 163473 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE COOPERATIVE HAS 9 BOARD MEMBERS; ALL 9 ARE ALLOWED TO VOTE, HOWEVER THE BOARD PRESIDENT VOTES ONLY IN THE CASE OF A TIE. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS SERVE A THREE YEAR TERM. EACH YEAR THREE DIRECTORS ARE ELECTED BY THE MEMBERS OF THE ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION 5. AMENDMENT TO THE BYLAWS FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE COOPERATIVE WILL REQUIRE THE BOARD OF DIRECTORS AND OFFICERS TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY AND CAUSE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM SIMILARLY SITUATED COOPERATIVES LOCATED THROUGHOUT THE NATION. INTERNAL AND/OR EXTERNAL RESOURCES ARE ALSO USED TO COMPARE ANNUAL COMPENSATION WITHIN THE INDUSTRY. THE BOARD AND THE GENERAL MANAGER USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. THE BYLAWS CAN ALSO BE FOUND ON THE COOPERATIVE'S WEBSITE. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COMPANY HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN AND DEFINED BENEFIT PLAN FOR THE RESPECTED GROUPS OF EMPLOYEES. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. THE COMPANY ALSO PROVIDES HEALTH, DENTAL AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COMPANY TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE ASSOCIATION ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. ON THE 2023 FORM 990, PART I, LINE 15, THE COOPERATIVE SEPARATELY STATED SALARIES AND WAGES, EMPLOYEE BENEFITS, AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM. ON THE 2022 RETURN, THE COOPERATIVE DID NOT SEPARATELY STATE THESE EXPENSES. THE 2022 RETURN IS COMPLETE AND ACCURATE, BUT THE COOPERATIVE BELIEVES BY SEPARATELY STATING THESE EXPENSES ON THE 2023 RETURN A READER OF THE FORM 990 WILL BE MORE INFORMED. FUTURE YEARS RETURNS FILED BY THE COOPERATIVE WILL SEPARATELY STATE SALARIES AND WAGES, EMPLOYEE BENEFITS, AND PAYROLL TAXES, MAKING THE COMPARISON ON PAGE 1 MORE MEANINGFUL. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 3,610,975 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (100,575) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (73,401) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGINS 2,814 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,566,761 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 297,302 TOTAL WAGES ACCRUED AND/OR PAID $ 5,303,876 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS & OTHER $ 430,051 OFFICE SUPPLIES 292,312 OUTSIDE SERVICES 42,539 INSURANCES AND DAMAGES 333,904 REGULATORY COMMISSION 800 MISCELLANEOUS GENERAL 155,581 PROPERTY INSURANCE 13,380 DUPLICATE CHARGES (32,235) DIRECTORS 70,506 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 1,307,738 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (100,575) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (701,672) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (347,855) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 157,636 FORM 990, PART IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: CONSUMER EXPENSES $ 54,940 MERCHANDISING EXPENSES 6,071 SALES AND OTHER EXPENSES 19,885 TOTAL OTHER EXPENSES PER FORM 990, PART IX $ 80,896 FORM 990, PART XI, LINE 9: NET CHANGE IN MEMBERSHIPS -3,771. EQUITY IN UNDISTRIBUTED EARNINGS OF NT SPARK 2,138,002. NT SPARK LLC PO BOX 609 HOUSTON MS 38851 852452115 ELECTRIC POWER DISTRIBUTOR MS NATCHEZ TRACE ELECTRIC POWER ASSOCIATION C 6435138 1322811 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 NT SPARK LLC A 2194615 CASH DISBURSEMENTS NT SPARK LLC N 455351 JOINT COST ALLOCATION NT SPARK LLC O 303687 TIME ALLOCATION