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Nonprofiteer
← RAYLE ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by RAYLE ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$44,629,912
Total expenses
$44,629,912
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$44,602,518
Investment income
$27,394
Other revenue
$0
Total assets, end of year
$122,900,206
Total liabilities, end of year
$76,045,967
Net assets or fund balances, end of year
$46,854,239
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 $42,595,302 · related or exempt $42,595,302

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $928,394 · related or exempt $928,394

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

    total $836,833 · related or exempt $836,833

  • 2d · Program service revenue: POLE RENTAL

    total $241,989 · excluded $241,989

  • 3 · Investment income

    total $27,394 · excluded $27,394

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,208,028

  • 5 · Compensation of officers, directors and key employees

    total $389,955

  • 9 · Other employee benefits

    total $399,173

  • 13 · Office expenses

    total $314,379

  • 20 · Interest

    total $2,112,299

  • 22 · Depreciation, depletion and amortization

    total $3,446,501

  • 24a · Other expenses: PURCHASED POWER

    total $24,795,062

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $6,027,451

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $1,932,535

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $1,711,125

  • 24e · All other expenses

    total $1,293,404

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $972,688 · end of year $568,879

  • 2 · Savings and temporary cash investments

    beginning of year $130,264 · end of year $438,359

  • 4 · Accounts receivable

    beginning of year $4,734,398 · end of year $8,335,820

  • 8 · Inventories for sale or use

    beginning of year $2,456,947 · end of year $3,349,401

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,536 · end of year $34,218

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

    $133,366,267

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

    $42,627,054

  • 10c · Land, buildings and equipment, net

    beginning of year $84,393,721 · end of year $90,739,213

  • 13 · Investments: program-related

    beginning of year $17,942,134 · end of year $19,431,070

  • 15 · Other assets

    beginning of year $5,837 · end of year $3,246

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,116,896 · end of year $5,448,933

  • 23 · Secured mortgages and notes payable

    beginning of year $55,761,399 · end of year $64,835,305

  • 25 · Other liabilities

    beginning of year $5,478,508 · end of year $5,761,729

  • 29 · Capital stock, trust principal or current funds

    beginning of year $76,465 · end of year $77,215

  • 31 · Retained earnings, endowment or other funds

    beginning of year $45,221,257 · end of year $46,777,024

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

As filed on the 2024 return.

Listed in Part VII

  • Fred McWhorter

    PRESIDENT

    Total calculated
    $8,200
    From this org
    $8,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Linton Scott

    VICE PRESIDE

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William R Dingler Sr

    SEC-TREAS

    Total calculated
    $14,870
    From this org
    $14,870
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kyle Brown

    DIRECTOR

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jackson Copelan

    DIRECTOR

    Total calculated
    $15,470
    From this org
    $15,470
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • James A Mathews

    DIRECTOR

    Total calculated
    $15,070
    From this org
    $15,070
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Iris Walker

    DIRECTOR

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Herbert L Powell

    DIRECTOR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Horace W Williams

    DIRECTOR

    Total calculated
    $23,115
    From this org
    $23,115
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Tony Griffin

    GENERAL MANA

    Total calculated
    $284,431
    From this org
    $206,057
    From related orgs
    $0
    Other
    $78,374
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $181,700
    Bonus
    $8,368
    Other
    $15,989
    Deferred
    $50,882
    Nontaxable benefits
    $27,492
    Filer's total
    $284,431

  • James Bennett

    MANAGER -ENG

    Total calculated
    $207,684
    From this org
    $143,851
    From related orgs
    $0
    Other
    $63,833
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,845
    Bonus
    $5,836
    Other
    $5,170
    Deferred
    $37,011
    Nontaxable benefits
    $26,822
    Filer's total
    $207,684

  • Karen Chafin

    MANAGER -ADM

    Total calculated
    $201,353
    From this org
    $138,431
    From related orgs
    $0
    Other
    $62,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,843
    Bonus
    $5,818
    Other
    $7,770
    Deferred
    $36,137
    Nontaxable benefits
    $26,785
    Filer's total
    $201,353

  • Hillman Moody

    DISTRICT FOR

    Total calculated
    $183,672
    From this org
    $128,896
    From related orgs
    $0
    Other
    $54,776
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,360
    Bonus
    $4,286
    Other
    $8,250
    Deferred
    $28,370
    Nontaxable benefits
    $26,406
    Filer's total
    $183,672

  • John Echols

    CONSTRUCTION

    Total calculated
    $177,137
    From this org
    $124,596
    From related orgs
    $0
    Other
    $52,541
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,146
    Bonus
    $4,156
    Other
    $1,294
    Deferred
    $26,249
    Nontaxable benefits
    $26,292
    Filer's total
    $177,137

  • Joseph Edwards

    DISTRICT FOR

    Total calculated
    $186,947
    From this org
    $132,645
    From related orgs
    $0
    Other
    $54,302
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,336
    Bonus
    $4,215
    Other
    $4,094
    Deferred
    $27,921
    Nontaxable benefits
    $26,381
    Filer's total
    $186,947

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 · 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
5 November 2025
IRS schema version
2024v5.0
Source object
202533109349303873

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