Overview
What is Magnolia Electric Power Association?
The Magnolia Electric Power Association is a member-operated electric cooperative, headquartered in Mccomb, Mississippi. It operates as a public utility, delivering electric power to its members within the area. As a cooperative, this nonprofit organization is owned and controlled by the very individuals it serves, ensuring a community focus and commitment to meeting the energy needs of its members.
Official website here: www.mepcoop.com
Is Magnolia Electric Power Association legitimate?
Magnolia Electric Power Association is a legitimate nonprofit organization registered as a 501(c)(12) entity. Magnolia Electric Power Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $784,220
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.mepcoop.com
What is the mission statement of Magnolia Electric Power Association?
The Magnolia Electric Power Association serves as a member-owned electric cooperative, supplying electric power to its members. Established as a public utility, this organization is dedicated to delivering reliable electricity to its community. Its primary mission revolves around ensuring access to electricity for its members, contributing to the overall improvement of their daily lives and the community as a whole. The nonprofit entity prides itself on its commitment to maintaining the infrastructure necessary for the production and distribution of electricity. Furthermore, it places emphasis on fostering a cooperative spirit among its members, working collaboratively to meet the collective needs of the community.
Official website here: www.mepcoop.com
What is the revenue of Magnolia Electric Power Association?
Magnolia Electric Power Association's revenue in 2023 was $87,537,938.
Official website here: www.mepcoop.com
Who are the executives of Magnolia Electric Power Association and what are their salaries?
The average compensation at Magnolia Electric Power Association during 2023 was $6,703. There are 117 employees at Magnolia Electric Power Association.
Here are 16 key members and their salaries:
- Compensation: $412,146
- Related: $0
- Other: $72,558
- Compensation: $215,424
- Related: $0
- Other: $46,048
- Compensation: $128,106
- Related: $0
- Other: $35,358
- Compensation: $128,165
- Related: $0
- Other: $27,610
- Compensation: $125,055
- Related: $0
- Other: $27,004
- Compensation: $119,804
- Related: $0
- Other: $26,990
- Compensation: $118,691
- Related: $0
- Other: $27,370
- Compensation: $15,450
- Related: $0
- Other: $5,958
- Compensation: $18,600
- Related: $0
- Other: $2,632
- Compensation: $15,450
- Related: $0
- Other: $2,982
- Compensation: $17,350
- Related: $0
- Other: $3
- Compensation: $10,500
- Related: $0
- Other: $5,958
- Compensation: $15,550
- Related: $0
- Other: $3
- Compensation: $11,850
- Related: $0
- Other: $0
- Compensation: $10,950
- Related: $0
- Other: $0
- Compensation: $10,500
- Related: $0
- Other: $3
Official website here: www.mepcoop.com
Where can I find the form 990 for Magnolia Electric Power Association?
Magnolia Electric Power Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mepcoop.com
Learn more at the official website: www.mepcoop.com
Mission Statement of Magnolia Electric Power Association
The Magnolia Electric Power Association, a member-owned electric cooperative, is dedicated to delivering electric power to its members in a public utility setting. This organization based in Mississippi is more than just a power supplier; it is a community of members working together to ensure reliable and sustainable energy solutions. The cooperative ethos instills a sense of ownership and commitment among its members, fostering a strong bond and shared responsibility for the success of the association. The Magnolia Electric Power Association's mission is to serve its members efficiently and effectively, ensuring their access to essential electric power for their daily lives and businesses. By organizing as a public utility, the association upholds the highest standards of safety, reliability, and accountability, making it a trusted partner in the community it serves.
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Impact
October, 2024
Magnolia Electric Power Association impacts the community of McComb, MS, by providing reliable electric power to its members as a member-owned electric cooperative. This structure fosters a sense of ownership and accountability among its members, ensuring that the organization prioritizes their needs and interests. As a public utility, it not only supports the day-to-day energy requirements of the community but also contributes to the economic stability and growth of the region. By focusing on the needs of its members, Magnolia Electric Power Association enhances the quality of life in McComb through consistent, affordable energy services while promoting public benefit initiatives that further support community development.
This information is meant to be a general summary of Magnolia Electric Power Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $429,058
- Program Service Revenue: $85,348,342
- Gross Receipts: $87,596,950
Assets and Liabilities:
- Total Assets: $198,742,383
- Total Liabilities: $89,981,351
- Net Assets: $108,761,032
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP REVENUES
Revenue
$84,402,463
POLE RENTAL
Revenue
$945,879
Organization Details
Founding Year
1938
Principal Officer
Darrell Smith
Website
www.mepcoop.comNTEE Category
Code: W80 - Public benefit
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