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Nonprofiteer
← HALIFAX ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by HALIFAX ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$31,494,593
Total expenses
$30,924,762
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$31,062,251
Investment income
$63,269
Other revenue
$369,073
Total assets, end of year
$76,091,455
Total liabilities, end of year
$48,480,019
Net assets or fund balances, end of year
$27,611,436
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: ELECTRICITY SALES

    total $30,210,576 · related or exempt $30,210,576

  • 2b · Program service revenue: CIAC

    total $731,324 · related or exempt $731,324

  • 2c · Program service revenue: PATRONAGE ALLOC. RECEIVED

    total $120,351 · related or exempt $120,351

  • 3 · Investment income

    total $48,942 · excluded $48,942

  • 6a · Gross rents

    personal property $78,155

  • 6c · Rental income or loss

    personal property $78,155

  • 6d · Net rental income or loss

    total $78,155 · excluded $78,155

  • 7a · Gross sales of assets other than inventory

    other assets $37,321

  • 7b · Less cost or other basis and sales expenses

    other assets $22,994

  • 7c · Gain or loss

    other assets $14,327

  • 7d · Net gain or loss

    total $14,327 · excluded $14,327

  • 11a · Other revenue: INCOME FROM SUBSIDIARY

    total $290,918 · related or exempt $290,918

  • 11e · Other revenue, total

    $290,918

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,269,257

  • 5 · Compensation of officers, directors and key employees

    total $451,872

  • 7 · Other salaries and wages

    total $3,091,450

  • 8 · Pension plan contributions

    total $1,047,365

  • 10 · Payroll taxes

    total $267,692

  • 11b · Fees: legal

    total $31,316

  • 17 · Travel

    total $899,838

  • 19 · Conferences, conventions and meetings

    total $122,912

  • 20 · Interest

    total $1,499,680

  • 22 · Depreciation, depletion and amortization

    total $3,353,865

  • 24a · Other expenses: COST OF POWER

    total $15,675,913

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $2,151,116

  • 24c · Other expenses: DISTRIBUTION OPERATION

    total $1,246,130

  • 24d · Other expenses: ADMIN AND GENERAL

    total $1,168,754

  • 24e · All other expenses

    total -$1,352,398

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $908,746 · end of year $1,075,150

  • 2 · Savings and temporary cash investments

    beginning of year $1,272,349 · end of year $909,084

  • 4 · Accounts receivable

    beginning of year $3,312,419 · end of year $3,557,029

  • 7 · Other notes and loans receivable

    beginning of year $1,083,000 · end of year $1,440,400

  • 8 · Inventories for sale or use

    beginning of year $1,514,039 · end of year $1,406,906

  • 9 · Prepaid expenses and deferred charges

    beginning of year $151,353 · end of year $691,819

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

    $97,586,711

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

    $38,439,449

  • 10c · Land, buildings and equipment, net

    beginning of year $59,800,695 · end of year $59,147,262

  • 13 · Investments: program-related

    beginning of year $7,498,601 · end of year $7,863,805

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,914,489 · end of year $3,464,237

  • 23 · Secured mortgages and notes payable

    beginning of year $44,826,265 · end of year $43,851,084

  • 25 · Other liabilities

    beginning of year $1,396,235 · end of year $1,164,698

  • 29 · Capital stock, trust principal or current funds

    beginning of year $102,860 · end of year $102,415

  • 31 · Retained earnings, endowment or other funds

    beginning of year $26,301,353 · end of year $27,509,021

Mission and programs · 2024

Mission

TO DELIVER EXCEPTIONAL VALUE AND SERVICE TO OUR COMMUNITIES WITH CARE THROUGH PROVIDING OUR MEMBERS WITH SAFE AND RELIABLE ELECTRIC SERVICES, ENRICHING OUR DIVERSE COMMUNITIES THROUGH EDUCATION, ECONOMIC GROWTH, AND COMMUNITY INVOLVEMENT.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 15,675,913 DEPRECIATION 3,353,865 OTHER SALARIES AND WAGES 3,091,450

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

Listed in Part VII

  • Adam T Lemley

    CEO

    Total calculated
    $326,955
    From this org
    $254,700
    From related orgs
    $0
    Other
    $72,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,654
    Bonus
    $760
    Other
    $1,286
    Deferred
    $41,635
    Nontaxable benefits
    $30,620
    Filer's total
    $326,955

  • Roger L Chappell

    DISTRICT FOR

    Total calculated
    $192,574
    From this org
    $119,629
    From related orgs
    $0
    Other
    $72,945
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,075
    Bonus
    $760
    Other
    $1,794
    Deferred
    $58,412
    Nontaxable benefits
    $14,533
    Filer's total
    $192,574

  • John Lassiter

    DIRECTOR OPE

    Total calculated
    $182,270
    From this org
    $108,988
    From related orgs
    $0
    Other
    $73,282
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,014
    Bonus
    $760
    Other
    $1,214
    Deferred
    $40,447
    Nontaxable benefits
    $32,835
    Filer's total
    $182,270

  • James T Harriett

    DIRECTOR OF

    Total calculated
    $176,059
    From this org
    $127,403
    From related orgs
    $0
    Other
    $48,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,528
    Bonus
    $760
    Other
    $1,115
    Deferred
    $15,484
    Nontaxable benefits
    $33,172
    Filer's total
    $176,059

  • Raymond T Conner

    LEAD LINEMAN

    Total calculated
    $169,818
    From this org
    $120,539
    From related orgs
    $0
    Other
    $49,279
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,089
    Bonus
    $760
    Other
    $690
    Deferred
    $27,774
    Nontaxable benefits
    $21,505
    Filer's total
    $169,818

  • Julia Allsbrook

    DIRECTOR OF

    Total calculated
    $166,456
    From this org
    $104,660
    From related orgs
    $0
    Other
    $61,796
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,680
    Bonus
    $760
    Other
    $220
    Deferred
    $29,136
    Nontaxable benefits
    $32,660
    Filer's total
    $166,456

  • Basil D Williams

    DIRECTOR

    Total calculated
    $18,037
    From this org
    $18,037
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Nathaniel M Robertson

    SEC-TREAS

    Total calculated
    $14,537
    From this org
    $14,537
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Harry M Williams III

    DIRECTOR

    Total calculated
    $14,037
    From this org
    $14,037
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Barbara L Brayboy

    VICE PRESIDE

    Total calculated
    $13,635
    From this org
    $13,635
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Stanley J Brothers

    DIRECTOR

    Total calculated
    $13,323
    From this org
    $13,323
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Robin S Williams

    PRESIDENT

    Total calculated
    $13,137
    From this org
    $13,137
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Sanders P Cox

    DIRECTOR

    Total calculated
    $12,837
    From this org
    $12,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Robert F Harris

    DIRECTOR

    Total calculated
    $12,837
    From this org
    $12,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Frederick M Dunn Jr

    ASST. SEC-TR

    Total calculated
    $12,537
    From this org
    $12,537
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 · Form 990 of other organizations
  • 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HALIFAX RESOURCES & SERVICES INC

    C CORP · INTERNET · NC · 100% owned · share of income $290,917

    Directly controlled by HALIFAX EM

Provenance

Return type
form_990
Tax year
2024
Filed
1 October 2025
IRS schema version
2024v5.0
Source object
202503029349301105

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