Skip to content
Nonprofiteer
← EXCELSIOR ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by EXCELSIOR ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$63,604,365
Total expenses
$62,230,457
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$62,273,959
Investment income
$1,330,406
Other revenue
$0
Total assets, end of year
$167,963,139
Total liabilities, end of year
$96,230,260
Net assets or fund balances, end of year
$71,732,879
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 $60,274,171 · related or exempt $60,274,171

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

    total $1,225,155 · related or exempt $1,225,155

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $629,333 · related or exempt $629,333

  • 2d · Program service revenue: POLE RENTAL

    total $145,300 · excluded $145,300

  • 3 · Investment income

    total $1,330,406 · related or exempt $1,330,406

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,274,355

  • 5 · Compensation of officers, directors and key employees

    total $838,666

  • 20 · Interest

    total $1,482,850

  • 22 · Depreciation, depletion and amortization

    total $3,572,334

  • 24a · Other expenses: PURCHASE POWER

    total $41,782,635

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $4,408,348

  • 24c · Other expenses: DISTRIBUTION MAINTENANCE

    total $4,119,605

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $1,594,301

  • 24e · All other expenses

    total $2,157,363

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $992,227 · end of year $869,437

  • 2 · Savings and temporary cash investments

    beginning of year $18,205,200 · end of year $21,523,000

  • 4 · Accounts receivable

    beginning of year $5,680,666 · end of year $6,546,440

  • 8 · Inventories for sale or use

    beginning of year $2,145,041 · end of year $2,973,656

  • 9 · Prepaid expenses and deferred charges

    beginning of year $244,542 · end of year $281,613

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

    $122,916,760

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

    $33,722,298

  • 10c · Land, buildings and equipment, net

    beginning of year $84,910,095 · end of year $89,194,462

  • 13 · Investments: program-related

    beginning of year $24,665,293 · end of year $26,451,672

  • 15 · Other assets

    beginning of year $848,133 · end of year $20,122,859

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,116,544 · end of year $14,930,365

  • 23 · Secured mortgages and notes payable

    beginning of year $43,761,594 · end of year $57,513,546

  • 25 · Other liabilities

    beginning of year $19,741,601 · end of year $23,786,349

  • 29 · Capital stock, trust principal or current funds

    beginning of year $426,387 · end of year $437,212

  • 31 · Retained earnings, endowment or other funds

    beginning of year $67,645,071 · end of year $71,295,667

Mission and programs · 2024

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 2024 return.

Listed in Part VII

  • Greg Proctor

    PRESIDENT/CE

    Total calculated
    $574,026
    From this org
    $422,661
    From related orgs
    $0
    Other
    $151,365
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $380,130
    Bonus
    $28,853
    Other
    $13,678
    Deferred
    $139,634
    Nontaxable benefits
    $11,731
    Filer's total
    $574,026

  • William A Walden

    EXECUTIVE VP

    Total calculated
    $421,620
    From this org
    $318,703
    From related orgs
    $0
    Other
    $102,917
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $291,108
    Bonus
    $21,083
    Other
    $6,512
    Deferred
    $102,166
    Nontaxable benefits
    $751
    Filer's total
    $421,620

  • James Porter

    VP ENGINEERI

    Total calculated
    $257,246
    From this org
    $195,750
    From related orgs
    $0
    Other
    $61,496
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,406
    Bonus
    $13,168
    Other
    $3,176
    Deferred
    $61,407
    Nontaxable benefits
    $89
    Filer's total
    $257,246

  • Josh Holland

    DIRECTOR OF

    Total calculated
    $222,760
    From this org
    $159,368
    From related orgs
    $0
    Other
    $63,392
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,323
    Bonus
    $11,707
    Other
    $5,338
    Deferred
    $52,500
    Nontaxable benefits
    $10,892
    Filer's total
    $222,760

  • Chris Howell

    CONSTR. CREW

    Total calculated
    $217,628
    From this org
    $158,537
    From related orgs
    $0
    Other
    $59,091
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $147,436
    Bonus
    $10,006
    Other
    $1,095
    Deferred
    $50,402
    Nontaxable benefits
    $8,689
    Filer's total
    $217,628

  • Jamey Donaldson

    CONSTR. CREW

    Total calculated
    $213,725
    From this org
    $163,189
    From related orgs
    $0
    Other
    $50,536
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,612
    Bonus
    $10,006
    Other
    $571
    Deferred
    $50,401
    Nontaxable benefits
    $135
    Filer's total
    $213,725

  • Amy Hendrix

    DIRECTOR

    Total calculated
    $34,968
    From this org
    $34,968
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.25

  • Mike Anderson

    CHAIRMAN

    Total calculated
    $32,610
    From this org
    $32,610
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • David Cromley

    DIRECTOR

    Total calculated
    $32,610
    From this org
    $32,610
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Russell Mathis

    DIRECTOR

    Total calculated
    $32,578
    From this org
    $32,578
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jordy Carter

    DIRECTOR

    Total calculated
    $31,925
    From this org
    $31,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.1

  • Gw Johnson Jr

    SECRETARY/TR

    Total calculated
    $27,125
    From this org
    $27,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Solly Trapnell

    DIRECTOR

    Total calculated
    $26,790
    From this org
    $26,790
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Grady McCray

    DIRECTOR

    Total calculated
    $26,102
    From this org
    $26,102
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.5

  • Wade C Hodges

    VICE CHAIRMA

    Total calculated
    $19,932
    From this org
    $19,932
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

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
2024
Filed
17 April 2025
IRS schema version
2024v5.0
Source object
202501199349300545

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.