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Nonprofiteer
← EDGECOMBE-MARTIN COUNTY ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by EDGECOMBE-MARTIN COUNTY ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$29,738,660
Total expenses
$30,193,887
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$29,492,559
Investment income
$175,527
Other revenue
$70,574
Total assets, end of year
$74,404,871
Total liabilities, end of year
$38,710,944
Net assets or fund balances, end of year
$35,693,927
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 $29,286,807 · related or exempt $29,286,807

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

    total $150,735 · related or exempt $150,735

  • 2c · Program service revenue: CASH PATRONAGE ALLOC

    total $55,017 · related or exempt $55,017

  • 3 · Investment income

    total $104,962 · excluded $104,962

  • 6a · Gross rents

    personal property $70,903

  • 6b · Less rental expenses

    personal property $900

  • 6c · Rental income or loss

    personal property $70,003

  • 6d · Net rental income or loss

    total $70,003 · unrelated business -$300 · excluded $70,303

  • 7a · Gross sales of assets other than inventory

    other assets $88,822

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

    other assets $18,257

  • 7c · Gain or loss

    other assets $70,565

  • 7d · Net gain or loss

    total $70,565 · excluded $70,565

  • 10a · Gross sales of inventory

    $2,881

  • 10b · Cost of goods sold

    $2,881

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $571 · related or exempt $571

  • 11e · Other revenue, total

    $571

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,719,112

  • 5 · Compensation of officers, directors and key employees

    total $797,438

  • 7 · Other salaries and wages

    total $3,444,727

  • 8 · Pension plan contributions

    total $415,208

  • 10 · Payroll taxes

    total $314,773

  • 11b · Fees: legal

    total $23,927

  • 17 · Travel

    total $658,881

  • 19 · Conferences, conventions and meetings

    total $115,043

  • 20 · Interest

    total $1,280,682

  • 22 · Depreciation, depletion and amortization

    total $2,831,320

  • 24a · Other expenses: COST OF POWER

    total $15,524,084

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $1,923,696

  • 24c · Other expenses: ADMINISTRATIVE AND GEN

    total $1,622,136

  • 24d · Other expenses: DISTRIBUTION OPERATION

    total $628,838

  • 24e · All other expenses

    total -$1,105,978

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $571,662 · end of year $1,385,013

  • 2 · Savings and temporary cash investments

    beginning of year $2,877,100 · end of year $2,308,827

  • 4 · Accounts receivable

    beginning of year $3,660,122 · end of year $4,482,436

  • 7 · Other notes and loans receivable

    beginning of year $321,009 · end of year $291,028

  • 8 · Inventories for sale or use

    beginning of year $696,571 · end of year $793,710

  • 9 · Prepaid expenses and deferred charges

    beginning of year $211,771 · end of year $176,867

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

    $92,392,255

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

    $36,303,577

  • 10c · Land, buildings and equipment, net

    beginning of year $55,174,581 · end of year $56,088,678

  • 13 · Investments: program-related

    beginning of year $9,047,979 · end of year $8,878,312

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,771,991 · end of year $2,388,094

  • 23 · Secured mortgages and notes payable

    beginning of year $33,361,425 · end of year $32,029,402

  • 25 · Other liabilities

    beginning of year $2,522,803 · end of year $4,293,448

  • 31 · Retained earnings, endowment or other funds

    beginning of year $34,904,576 · end of year $35,693,927

Mission and programs · 2023

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE

  • SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE COOPERATIVE'S THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 15,524,084 OTHER SALARIES AND WAGES 3,444,727 DEPRECIATION AND AMORTIZATION 2,831,320

As filed on the 2023 return.

Listed in Part VII

  • Winston Howell

    CEO

    Total calculated
    $405,235
    From this org
    $303,934
    From related orgs
    $0
    Other
    $101,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,683
    Bonus
    $1,251
    Other
    not reported
    Deferred
    $85,293
    Nontaxable benefits
    $16,008
    Filer's total
    $405,235

  • Melinda Nimmo

    VP OF FINANC

    Total calculated
    $285,138
    From this org
    $186,001
    From related orgs
    $0
    Other
    $99,137
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,371
    Bonus
    $630
    Other
    not reported
    Deferred
    $85,499
    Nontaxable benefits
    $13,638
    Filer's total
    $285,138

  • Michael Johnson

    VP ENGINEERI

    Total calculated
    $221,661
    From this org
    $204,239
    From related orgs
    $0
    Other
    $17,422
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,630
    Bonus
    $609
    Other
    not reported
    Deferred
    $4,012
    Nontaxable benefits
    $13,410
    Filer's total
    $221,661

  • James Stocks

    VP MEM & IND

    Total calculated
    $211,390
    From this org
    $193,941
    From related orgs
    $0
    Other
    $17,449
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,332
    Bonus
    $609
    Other
    not reported
    Deferred
    $3,782
    Nontaxable benefits
    $13,667
    Filer's total
    $211,390

  • Lisa Tolson

    VP OF HR

    Total calculated
    $178,218
    From this org
    $162,471
    From related orgs
    $0
    Other
    $15,747
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,800
    Bonus
    $671
    Other
    not reported
    Deferred
    $3,289
    Nontaxable benefits
    $12,458
    Filer's total
    $178,218

  • Bobby Wheeler

    LINE COORDIN

    Total calculated
    $175,433
    From this org
    $123,117
    From related orgs
    $0
    Other
    $52,316
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,337
    Bonus
    $780
    Other
    not reported
    Deferred
    $40,771
    Nontaxable benefits
    $11,545
    Filer's total
    $175,433

  • Ethan Thomas

    MGR ENG & IT

    Total calculated
    $164,833
    From this org
    $134,875
    From related orgs
    $0
    Other
    $29,958
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,204
    Bonus
    $671
    Other
    not reported
    Deferred
    $17,657
    Nontaxable benefits
    $12,301
    Filer's total
    $164,833

  • Elbert Ray Pitt Jr

    PRESIDENT

    Total calculated
    $18,665
    From this org
    $18,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Billy Trevathan

    TREASURER

    Total calculated
    $17,000
    From this org
    $17,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Floyd Wayne Harrell

    DIRECTOR

    Total calculated
    $16,200
    From this org
    $16,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Jimmie Jernigan

    VICE PRESIDE

    Total calculated
    $15,800
    From this org
    $15,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Rejeanor Scott

    DIRECTOR

    Total calculated
    $15,000
    From this org
    $15,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Harold Thompson

    DIRECTOR

    Total calculated
    $12,600
    From this org
    $12,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Norman Roberson

    SECRETARY

    Total calculated
    $11,800
    From this org
    $11,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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
2023
Filed
11 October 2024
IRS schema version
2023v5.0
Source object
202412889349301841

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