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Nonprofiteer
← UPSON ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by UPSON ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$19,936,874
Total expenses
$19,936,874
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$19,422,754
Investment income
$466,581
Other revenue
$47,539
Total assets, end of year
$45,000,259
Total liabilities, end of year
$15,024,743
Net assets or fund balances, end of year
$29,975,516
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 REVENUE

    total $18,658,125 · related or exempt $18,658,125

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $407,502 · related or exempt $407,502

  • 2c · Program service revenue: POLE RENTAL

    total $357,127 · excluded $357,127

  • 3 · Investment income

    total $466,581 · excluded $466,581

  • 11a · Other revenue: GAIN ON SALE OF ASSET

    total $39,665 · related or exempt $39,665

  • 11b · Other revenue: GAS SOUTH

    total $7,874 · unrelated business $7,874

  • 11e · Other revenue, total

    $47,539

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,868,032

  • 5 · Compensation of officers, directors and key employees

    total $485,657

  • 20 · Interest

    total $387,319

  • 22 · Depreciation, depletion and amortization

    total $1,084,686

  • 24a · Other expenses: PURCHASED POWER

    total $11,093,180

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $1,449,189

  • 24c · Other expenses: ADMIN. & GENERAL EXP.

    total $1,041,360

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $749,140

  • 24e · All other expenses

    total $778,311

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,745,561 · end of year $1,457,397

  • 2 · Savings and temporary cash investments

    beginning of year $5,897,621 · end of year $11,058,648

  • 4 · Accounts receivable

    beginning of year $2,076,348 · end of year $2,227,622

  • 8 · Inventories for sale or use

    beginning of year $258,824 · end of year $250,530

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,154,042 · end of year $190,600

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

    $36,178,853

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

    $14,912,461

  • 10c · Land, buildings and equipment, net

    beginning of year $20,628,420 · end of year $21,266,392

  • 13 · Investments: program-related

    beginning of year $8,195,710 · end of year $8,549,070

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,814,319 · end of year $1,640,922

  • 23 · Secured mortgages and notes payable

    beginning of year $8,593,404 · end of year $10,945,819

  • 25 · Other liabilities

    beginning of year $2,406,405 · end of year $2,438,002

  • 29 · Capital stock, trust principal or current funds

    beginning of year $36,340 · end of year $36,605

  • 31 · Retained earnings, endowment or other funds

    beginning of year $28,106,058 · end of year $29,938,911

Mission and programs · 2024

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

  • N/A

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rapheal A Brumbeloe

    CHAIRMAN - J

    Total calculated
    $975
    From this org
    $975
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.92

  • Ronnie M Hendricks

    CHAIRMAN - A

    Total calculated
    $25,682
    From this org
    $25,682
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.27

  • Lorenzo Wilder Sr

    VICE CHAIR

    Total calculated
    $21,825
    From this org
    $21,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.46

  • Ronald Vanhouten

    DIRECTOR - P

    Total calculated
    $14,257
    From this org
    $14,257
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.48

  • Kenny Coggins

    SEC/TREAS

    Total calculated
    $20,482
    From this org
    $20,482
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.85

  • James Meeks

    DIRECTOR

    Total calculated
    $20,100
    From this org
    $20,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.48

  • Greg Hobbs

    DIRECTOR

    Total calculated
    $10,250
    From this org
    $10,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.1

  • Ray Brumbeloe

    DIRECTOR - P

    Total calculated
    $5,675
    From this org
    $5,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.35

  • Brooke Parrott

    EXECUTIVE AD

    Total calculated
    $139,868
    From this org
    $101,247
    From related orgs
    $0
    Other
    $38,621
    Hours/week
    50

  • Daniel Eldridge

    STAKING & GI

    Total calculated
    $139,238
    From this org
    $102,706
    From related orgs
    $0
    Other
    $36,532
    Hours/week
    50

  • Johnny Blount

    APPARATUS SP

    Total calculated
    $142,123
    From this org
    $104,747
    From related orgs
    $0
    Other
    $37,376
    Hours/week
    50

  • Alan Wainwright

    OPS. MANAGER

    Total calculated
    $148,892
    From this org
    $108,629
    From related orgs
    $0
    Other
    $40,263
    Hours/week
    50

  • Shelley Young

    CFO

    Total calculated
    $224,435
    From this org
    $176,639
    From related orgs
    $0
    Other
    $47,796
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,349
    Bonus
    $25,000
    Other
    $1,290
    Deferred
    $35,103
    Nontaxable benefits
    $12,693
    Filer's total
    $224,435

  • Kenneth Simmons

    PRESIDENT &

    Total calculated
    $366,411
    From this org
    $284,854
    From related orgs
    $0
    Other
    $81,557
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $257,317
    Bonus
    $23,000
    Other
    $4,537
    Deferred
    $66,325
    Nontaxable benefits
    $15,232
    Filer's total
    $366,411

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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.

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
2024
Filed
13 February 2025
IRS schema version
2024v5.0
Source object
202500879349300705

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