Skip to content
Nonprofiteer
← EXCELSIOR ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2025

Filed by EXCELSIOR ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$78,174,166
Total expenses
$77,976,718
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$77,252,836
Investment income
$921,330
Other revenue
$0
Total assets, end of year
$174,019,556
Total liabilities, end of year
$95,219,730
Net assets or fund balances, end of year
$78,799,826
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRIC SERVICE REVENUE

    total $75,160,952 · related or exempt $75,160,952

  • 2b · Program service revenue: G & T CAPITAL CREDITS

    total $1,257,708 · related or exempt $1,257,708

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $699,318 · related or exempt $699,318

  • 2d · Program service revenue: POLE RENTAL

    total $134,858 · excluded $134,858

  • 3 · Investment income

    total $921,330 · excluded $921,330

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,359,088

  • 5 · Compensation of officers, directors and key employees

    total $916,953

  • 20 · Interest

    total $2,791,502

  • 22 · Depreciation, depletion and amortization

    total $3,920,323

  • 24a · Other expenses: PURCHASE POWER

    total $51,862,333

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $6,078,830

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $4,570,947

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $1,834,372

  • 24e · All other expenses

    total $2,642,370

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $869,437 · end of year $1,060,670

  • 2 · Savings and temporary cash investments

    beginning of year $21,523,000 · end of year $12,397,941

  • 4 · Accounts receivable

    beginning of year $6,546,440 · end of year $6,410,156

  • 8 · Inventories for sale or use

    beginning of year $2,973,656 · end of year $1,623,703

  • 9 · Prepaid expenses and deferred charges

    beginning of year $281,613 · end of year $63,150

  • 10a · Land, buildings and equipment: cost or other basis

    $134,292,284

  • 10b · Land, buildings and equipment: accumulated depreciation

    $36,756,432

  • 10c · Land, buildings and equipment, net

    beginning of year $89,194,462 · end of year $97,535,852

  • 13 · Investments: program-related

    beginning of year $26,451,672 · end of year $27,727,872

  • 15 · Other assets

    beginning of year $20,122,859 · end of year $27,200,212

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,930,365 · end of year $10,194,375

  • 23 · Secured mortgages and notes payable

    beginning of year $57,513,546 · end of year $69,765,884

  • 25 · Other liabilities

    beginning of year $23,786,349 · end of year $15,259,471

  • 29 · Capital stock, trust principal or current funds

    beginning of year $437,212 · end of year $443,016

  • 31 · Retained earnings, endowment or other funds

    beginning of year $71,295,667 · end of year $78,356,810

Mission and programs · 2025

Mission

TO PROVIDE THE BEST IN SAFE, RELIABLE AND COST-EFFECTIVE SERVICE FOR ITS MEMBERS.

  • TO PROVIDE THE BEST IN SAFE, RELIABLE AND COST-EFFECTIVE ELECTRIC SERVICE FOR ITS MEMBERS.

As filed on the 2025 return.

Listed in Part VII

  • Greg Proctor

    PRESIDENT/CE

    Total calculated
    $647,731
    From this org
    $474,294
    From related orgs
    $0
    Other
    $173,437
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $373,316
    Bonus
    $88,564
    Other
    $12,414
    Deferred
    $145,580
    Nontaxable benefits
    $27,857
    Filer's total
    $647,731

  • William A Walden

    EXECUTIVE VP

    Total calculated
    $633,609
    From this org
    $512,324
    From related orgs
    $0
    Other
    $121,285
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $288,585
    Bonus
    $216,725
    Other
    $7,014
    Deferred
    $106,694
    Nontaxable benefits
    $14,591
    Filer's total
    $633,609

  • James Porter

    VP ENGINEERI

    Total calculated
    $273,747
    From this org
    $193,002
    From related orgs
    $0
    Other
    $80,745
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $177,992
    Bonus
    $10,992
    Other
    $4,018
    Deferred
    $66,657
    Nontaxable benefits
    $14,088
    Filer's total
    $273,747

  • Lindy Chester

    VP FINANCE &

    Total calculated
    $253,180
    From this org
    $164,102
    From related orgs
    $0
    Other
    $89,078
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,620
    Bonus
    $10,163
    Other
    $319
    Deferred
    $61,620
    Nontaxable benefits
    $27,458
    Filer's total
    $253,180

  • Josh Holland

    DIRECTOR OF

    Total calculated
    $241,259
    From this org
    $157,026
    From related orgs
    $0
    Other
    $84,233
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,074
    Bonus
    $9,772
    Other
    $3,180
    Deferred
    $57,098
    Nontaxable benefits
    $27,135
    Filer's total
    $241,259

  • Tommy Johnson

    LINEMAN

    Total calculated
    $201,619
    From this org
    $151,056
    From related orgs
    $0
    Other
    $50,563
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,441
    Bonus
    $6,347
    Other
    $2,268
    Deferred
    $36,992
    Nontaxable benefits
    $13,571
    Filer's total
    $201,619

  • Amy Hendrix

    DIRECTOR

    Total calculated
    $33,365
    From this org
    $33,365
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Russell Mathis

    DIRECTOR

    Total calculated
    $33,365
    From this org
    $33,365
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Mike Anderson

    CHAIRMAN

    Total calculated
    $33,360
    From this org
    $33,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.3

  • Jordy Carter

    DIRECTOR

    Total calculated
    $33,360
    From this org
    $33,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Cromley

    DIRECTOR

    Total calculated
    $33,360
    From this org
    $33,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Gw Johnson Jr

    SECRETARY/TR

    Total calculated
    $27,360
    From this org
    $27,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.5

  • Solly Trapnell

    DIRECTOR

    Total calculated
    $27,360
    From this org
    $27,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Grady McCray

    DIRECTOR

    Total calculated
    $27,356
    From this org
    $27,356
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Wade C Hodges

    VICE CHAIRMA

    Total calculated
    $20,336
    From this org
    $20,336
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.75

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
19 March 2026
IRS schema version
2025v4.0
Source object
202631069349301453

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.