Skip to content
Nonprofiteer
← CENTRAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by CENTRAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$58,207,932
Total expenses
$60,109,851
Contributions and grants received
$0
Grants paid
$22,254
Program service revenue
$58,111,890
Investment income
$42,261
Other revenue
$53,781
Total assets, end of year
$133,265,783
Total liabilities, end of year
$68,334,157
Net assets or fund balances, end of year
$64,931,626
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: SALE OF ELECTRICITY

    total $57,734,638 · related or exempt $57,734,638

  • 2b · Program service revenue: CONTRIB. IN AID OF CONST.

    total $200,043 · related or exempt $200,043

  • 2c · Program service revenue: CASH PATRONAGE RECEIVED

    total $177,209 · related or exempt $177,209

  • 3 · Investment income

    total $31,439 · excluded $31,439

  • 6a · Gross rents

    real property $11,493 · personal property $112,591

  • 6c · Rental income or loss

    real property $11,493 · personal property $112,591

  • 6d · Net rental income or loss

    total $124,084 · related or exempt $11,493 · excluded $112,591

  • 7a · Gross sales of assets other than inventory

    other assets $10,822

  • 7c · Gain or loss

    other assets $10,822

  • 7d · Net gain or loss

    total $10,822 · excluded $10,822

  • 11a · Other revenue: OTHER

    total $5,317 · related or exempt $5,317

  • 11b · Other revenue: LOSS FROM EQUITY INV.

    total -$75,620 · related or exempt -$75,620

  • 11e · Other revenue, total

    -$70,303

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $22,254

  • 4 · Benefits paid to or for members

    total $3,488,990

  • 5 · Compensation of officers, directors and key employees

    total $1,176,626

  • 7 · Other salaries and wages

    total $4,958,944

  • 8 · Pension plan contributions

    total $1,121,439

  • 10 · Payroll taxes

    total $453,225

  • 11b · Fees: legal

    total $279,074

  • 17 · Travel

    total $690,824

  • 19 · Conferences, conventions and meetings

    total $244,592

  • 20 · Interest

    total $2,175,287

  • 22 · Depreciation, depletion and amortization

    total $5,217,777

  • 24a · Other expenses: COST OF POWER

    total $34,897,229

  • 24b · Other expenses: DIST. MAINTENANCE

    total $2,790,761

  • 24c · Other expenses: ADMIN & GENERAL

    total $2,434,376

  • 24d · Other expenses: DIST. OPERATION

    total $1,502,321

  • 24e · All other expenses

    total -$1,343,868

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,180,743 · end of year $1,286,115

  • 2 · Savings and temporary cash investments

    beginning of year $30,234 · end of year $30,279

  • 4 · Accounts receivable

    beginning of year $6,667,075 · end of year $7,646,330

  • 7 · Other notes and loans receivable

    beginning of year $441,195 · end of year $298,022

  • 8 · Inventories for sale or use

    beginning of year $1,936,303 · end of year $1,673,816

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,484,796 · end of year $2,252,382

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

    $154,903,765

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

    $54,134,230

  • 10c · Land, buildings and equipment, net

    beginning of year $95,664,452 · end of year $100,769,535

  • 12 · Investments: other securities

    beginning of year $4,125,717 · end of year $3,698,678

  • 13 · Investments: program-related

    beginning of year $14,312,798 · end of year $15,610,626

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,827,381 · end of year $5,964,121

  • 23 · Secured mortgages and notes payable

    beginning of year $51,348,551 · end of year $55,795,227

  • 24 · Unsecured notes and loans payable

    beginning of year $803,846 · end of year $711,467

  • 25 · Other liabilities

    beginning of year $6,156,599 · end of year $5,863,342

  • 31 · Retained earnings, endowment or other funds

    beginning of year $62,706,936 · end of year $64,931,626

Mission and programs · 2023

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF CENTRAL EMC

  • SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF CENTRAL ELECTRIC MEMBERSHIP CORPORATION. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 34,897,229 DEPRECIATION AND AMORTIZATION 5,217,777 OTHER SALARIES AND WAGES 4,958,944

As filed on the 2023 return.

Listed in Part VII

  • Edward B Oldham

    CEO & GEN. M

    Total calculated
    $322,009
    From this org
    $242,589
    From related orgs
    $0
    Other
    $79,420
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,589
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,438
    Nontaxable benefits
    $12,982
    Filer's total
    $322,009

  • Tabitha L Whitlow

    VP FIN & ACT

    Total calculated
    $225,098
    From this org
    $165,330
    From related orgs
    $0
    Other
    $59,768
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,330
    Bonus
    not reported
    Other
    not reported
    Deferred
    $46,786
    Nontaxable benefits
    $12,982
    Filer's total
    $225,098

  • Angela D Hare

    VP OF CUSTOM

    Total calculated
    $215,491
    From this org
    $151,120
    From related orgs
    $0
    Other
    $64,371
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,120
    Bonus
    not reported
    Other
    not reported
    Deferred
    $46,208
    Nontaxable benefits
    $18,163
    Filer's total
    $215,491

  • Jody B Albright

    VP OF MEMBER

    Total calculated
    $209,098
    From this org
    $147,326
    From related orgs
    $0
    Other
    $61,772
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,326
    Bonus
    not reported
    Other
    not reported
    Deferred
    $43,609
    Nontaxable benefits
    $18,163
    Filer's total
    $209,098

  • Terry Collins

    MANAGER OF O

    Total calculated
    $175,083
    From this org
    $121,188
    From related orgs
    $0
    Other
    $53,895
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,188
    Bonus
    not reported
    Other
    not reported
    Deferred
    $35,732
    Nontaxable benefits
    $18,163
    Filer's total
    $175,083

  • Robert Thompson

    SYSTEMS ENGI

    Total calculated
    $169,819
    From this org
    $132,524
    From related orgs
    $0
    Other
    $37,295
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,524
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,679
    Nontaxable benefits
    $616
    Filer's total
    $169,819

  • Martin Jessup

    OVERHEAD FOR

    Total calculated
    $164,873
    From this org
    $118,086
    From related orgs
    $0
    Other
    $46,787
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,086
    Bonus
    not reported
    Other
    not reported
    Deferred
    $28,624
    Nontaxable benefits
    $18,163
    Filer's total
    $164,873

  • James Taylor

    MGR PAYROLL/

    Total calculated
    $159,142
    From this org
    $108,493
    From related orgs
    $0
    Other
    $50,649
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,493
    Bonus
    not reported
    Other
    not reported
    Deferred
    $32,486
    Nontaxable benefits
    $18,163
    Filer's total
    $159,142

  • Kenneth Thomas

    LINEMAN

    Total calculated
    $156,167
    From this org
    $119,957
    From related orgs
    $0
    Other
    $36,210
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,957
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,228
    Nontaxable benefits
    $12,982
    Filer's total
    $156,167

  • Charles E Cameron Sr

    DIRECTOR

    Total calculated
    $26,130
    From this org
    $26,130
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.14

  • Rebecca G Paschal-Cogan

    PRESIDENT

    Total calculated
    $25,200
    From this org
    $25,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.92

  • Henry Randolph

    DIRECTOR

    Total calculated
    $20,700
    From this org
    $20,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.54

  • W Phillip Thompson Jr

    ASST. SECRET

    Total calculated
    $19,500
    From this org
    $19,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Nancy G Holmes

    DIRECTOR

    Total calculated
    $19,200
    From this org
    $19,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.78

  • L Frank Comer III

    DIRECTOR

    Total calculated
    $19,200
    From this org
    $19,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.12

  • J Thomas Dalrymple

    VICE-PRESIDE

    Total calculated
    $18,900
    From this org
    $18,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.58

  • Timothy W Priest

    DIRECTOR

    Total calculated
    $18,300
    From this org
    $18,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.96

  • C Henry Outz Jr

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.37

  • James B Brooks

    SECRETARY-TR

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.78

  • Edith C Cox

    DIRECTOR

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0

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 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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
10 October 2024
IRS schema version
2023v5.0
Source object
202412859349302011

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.