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Nonprofit · EIN 64-0195613

MAGNOLIA ELECTRIC POWER ASSOCIATION

Tax-exempt · MCCOMB, MS 39649

Financials

$87.5M$87.5M2023$92.9M$92.9M2024
Revenue Expenses · by fiscal year end
Financials of MAGNOLIA ELECTRIC POWER ASSOCIATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$92,860,120$92,860,120$0$217,227,885$105,528,696$111,699,189
December 31, 2023990$87,537,938$87,537,938$0$204,641,960$94,841,338$109,800,622
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$90,801,824
Investment income
$459,812
Net gain from sales of assets
$6,161
Other revenue
$1,598,484

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$4,695,044
Compensation of officers, directors and key employees
$802,893
Salaries, compensation and benefits (total)
$802,893
Professional fundraising fees
$0
Legal fees
$22,591
Accounting fees
$30,599
Depreciation
$7,268,807

Balance sheet and other

Total assets, start of year
$204,641,960
Total assets, end of year
$217,227,885
Total liabilities, end of year
$105,528,696
Net assets, end of year
$111,699,189
Land, buildings and equipment
$154,497,420
Publicly traded securities
$7,546,544
Gross receipts
$92,932,039
Employees
123
Year formed
1938
State of legal domicile
MS

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
DARRELL SMITHGENERAL MANA
Officer
60$446,496$61,480
AARON ACHORDMANAGER-ENG
Highest-paid employee
40$227,362$48,815
JASON MALLETTESENIOR LINEM
Highest-paid employee
40$144,432$27,850
COREY L FLETCHERLINEMAN
Highest-paid employee
40$143,554$28,153
DANIEL EVANSELEC. ENGINE
Highest-paid employee
40$134,301$37,262
WS MCCASKILLFOREMAN
Highest-paid employee
40$144,358$23,010
TONY NETTLESMANAGER-ADMI
Officer
40$134,225$29,081
ODELL MCKENZIEVICE SEC./TR
Trustee or director, Officer
15$20,830$0
DENNIS WILSONPRESIDENT
Trustee or director, Officer
15$19,440$0
PAT ARDVICE PRESIDE
Trustee or director, Officer
14$19,242$0
CINDY GINNDIRECTOR
Trustee or director
13$15,909$0
JERRY L SISCODIRECTOR
Trustee or director
13$13,947$0
CARL FULLERDIRECTOR
Trustee or director
12$12,651$0
SCOTT SMITHSEC./TREAS
Trustee or director, Officer
13$12,555$0
HOLLIS ALFORDDIRECTOR
Trustee or director
12$10,950$0
1 more people on this return
NameTitleHours / weekCompensation
JOHN L MCCABEDIRECTOR
Trustee or director
12$6,087
990 for the year ended December 31, 2023: 16 people
NameTitleHours / weekCompensationOther / benefits
DARRELL SMITHGENERAL MANA
Officer
60$412,146$72,558
AARON ACHORDMANAGER-ENG
Highest-paid employee
40$215,424$46,048
DANIEL EVANSELEC. ENGINE
Highest-paid employee
40$128,106$35,358
TONY NETTLESMANAGER-ADMI
Officer
40$128,165$27,610
TERRY JACKSONSERVICEMAN
Highest-paid employee
40$125,055$27,004
DORNEAIL MAGEESERVICEMAN
Highest-paid employee
40$119,804$26,990
JASON MALLETTESENIOR LINEM
Highest-paid employee
40$118,691$27,370
JERRY L SISCODIRECTOR
Trustee or director
13$15,450$5,958
DENNIS WILSONVICE PRESIDE
Trustee or director, Officer
14$18,600$2,632
CARL FULLERDIRECTOR
Trustee or director
13$15,450$2,982
ODELL MCKENZIEDIRECTOR
Trustee or director
14$17,350$3
JOHN L MCCABESEC.-TREA.
Trustee or director, Officer
12$10,500$5,958
CINDY GINNDIRECTOR
Trustee or director
13$15,550$3
PAT ARDDIRECTOR
Trustee or director
12$11,850$0
HOLLIS ALFORDPRESIDENT
Trustee or director, Officer
12$10,950$0
SCOTT SMITHDIRECTOR
Trustee or director
12$10,500$3

Address and contacts

Address (IRS master file)
PO BOX 747, MCCOMB, MS 39649-0747
In care of
% DWAYNE BANKSTON
Principal officer (990 for 2024)
DARRELL SMITH, PO BOX 747, MCCOMB, MS 39648
Signed the 990
DARRELL SMITH, GENERAL MANAGER
Phone
(601) 684-4011
Return prepared by
CORBIN & BIGGS PLLC

Mission

MEMBER OWNED ELECTRIC COOPERATIVE.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVISION OF ELECTRIC POWER TO MEMBERS.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
64-0195613
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1942
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$217,227,885
Income (IRS master file)
$92,932,039

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$92,860,120$92,860,120$217,227,885IRS
990December 2023$87,537,938$87,537,938$204,641,960XML
990December 2022$83,370,782$83,370,782$198,742,383IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 64-0195613).

Questions about MAGNOLIA ELECTRIC POWER ASSOCIATION

What is the EIN of MAGNOLIA ELECTRIC POWER ASSOCIATION?
The employer identification number (EIN) of MAGNOLIA ELECTRIC POWER ASSOCIATION is 64-0195613.
Is MAGNOLIA ELECTRIC POWER ASSOCIATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1942.
Are donations to MAGNOLIA ELECTRIC POWER ASSOCIATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MAGNOLIA ELECTRIC POWER ASSOCIATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MAGNOLIA ELECTRIC POWER ASSOCIATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MAGNOLIA ELECTRIC POWER ASSOCIATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of MAGNOLIA ELECTRIC POWER ASSOCIATION?
The 990 for the year ended December 31, 2024 names DARRELL SMITH.
Who are the officers and directors of MAGNOLIA ELECTRIC POWER ASSOCIATION?
The 990 for the year ended December 31, 2024 lists 16 people; 16 received compensation from the organization, the highest $446,496 (DARRELL SMITH, GENERAL MANA).
How much revenue does MAGNOLIA ELECTRIC POWER ASSOCIATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $92,860,120, expenses of $92,860,120 and total assets of $217,227,885 at year end.

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