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Nonprofiteer
← OCMULGEE ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by OCMULGEE ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$33,288,623
Total expenses
$26,540,209
Contributions and grants received
$63,662
Grants paid
$0
Program service revenue
$30,218,296
Investment income
$187,563
Other revenue
$2,819,102
Total assets, end of year
$89,532,093
Total liabilities, end of year
$36,874,570
Net assets or fund balances, end of year
$52,657,523
Program services expenses (Part IX)
$26,540,209
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$26,540,209

Program services were 100.0% 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.

  • 1e · Government grants (contributions)

    $63,662

  • 2a · Program service revenue: RESIDENTIAL SALES

    total $20,559,903 · related or exempt $20,559,903

  • 2b · Program service revenue: COMMERCL & INDUSTL SALES - SM

    total $4,760,009 · related or exempt $4,760,009

  • 2c · Program service revenue: IRRIGATION SALES

    total $2,197,640 · related or exempt $2,197,640

  • 2d · Program service revenue: COMMERCL & INDUSTL SALES - LA

    total $808,798 · related or exempt $808,798

  • 2e · Program service revenue: OTH CAP CR - GRESCO CFC SEDC

    total $681,013 · related or exempt $681,013

  • 2f · All other program service revenue

    total $1,210,933 · related or exempt $1,210,933

  • 3 · Investment income

    total $187,563 · excluded $187,563

  • 6a · Gross rents

    real property $2,819,102

  • 6c · Rental income or loss

    real property $2,819,102

  • 6d · Net rental income or loss

    total $2,819,102 · related or exempt $2,819,102

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $370,232 · program services $370,232

  • 5 · Compensation of officers, directors and key employees

    total $305,059 · program services $305,059

  • 6 · Compensation of disqualified persons

    total $9,737 · program services $9,737

  • 20 · Interest

    total $1,516,421 · program services $1,516,421

  • 22 · Depreciation, depletion and amortization

    total $2,108,245 · program services $2,108,245

  • 24a · Other expenses: PURCHASED POWER

    total $14,726,880 · program services $14,726,880

  • 24b · Other expenses: OVERHEAD LINE EXPENSE

    total $1,619,881 · program services $1,619,881

  • 24c · Other expenses: ADMINSTRATIVE & GENERAL S

    total $791,986 · program services $791,986

  • 24d · Other expenses: MAINT OF O/HD CONTRACT -

    total $667,246 · program services $667,246

  • 24e · All other expenses

    total $4,424,522 · program services $4,424,522

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $826,475 · end of year $2,862,403

  • 2 · Savings and temporary cash investments

    beginning of year $3,460,945 · end of year $4,302,190

  • 4 · Accounts receivable

    beginning of year $8,126,265 · end of year $4,695,556

  • 8 · Inventories for sale or use

    beginning of year $4,441,024 · end of year $1,499,654

  • 9 · Prepaid expenses and deferred charges

    beginning of year $160,796 · end of year $226,169

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

    $91,518,973

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

    $24,756,514

  • 10c · Land, buildings and equipment, net

    beginning of year $59,873,526 · end of year $66,762,459

  • 13 · Investments: program-related

    beginning of year $7,313,120 · end of year $8,081,540

  • 15 · Other assets

    beginning of year $1,012,206 · end of year $1,102,122

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,110,070 · end of year $2,234,531

  • 23 · Secured mortgages and notes payable

    beginning of year $28,120,538 · end of year $29,515,971

  • 25 · Other liabilities

    beginning of year $4,822,848 · end of year $5,124,068

  • 29 · Capital stock, trust principal or current funds

    beginning of year $40,215 · end of year $40,595

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $1,110,349 · end of year $1,109,833

  • 31 · Retained earnings, endowment or other funds

    beginning of year $45,010,337 · end of year $51,507,095

Mission and programs · 2024

Mission

TO PROVIDE RURAL ELECTRIC AND BROADBAND SERVICES TO RURAL AREAS AT A REASONABLE PRICE.

  • PROVIDES ELECTRICAL AND BROADBAND SERVICES TO MEMBERS IN RURAL AREAS.

    Expenses $25,780,631 · Revenue $32,321,689

  • PROVIDES ELECTRICAL AND BROADBAND SERVICES TO MEMBERS IN RURAL AREAS.

    Expenses $759,578

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

Listed in Part VII

  • Wh Peacock

    RETIRED GEN

    Total calculated
    $275,008
    From this org
    $149,379
    From related orgs
    $0
    Other
    $125,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,379
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $125,629
    Filer's total
    $275,008

  • Billy L Joiner

    DIRECTOR

    Total calculated
    $31,286
    From this org
    $29,737
    From related orgs
    $0
    Other
    $1,549

  • Barry Martin

    PRESIDENT

    Total calculated
    $28,711
    From this org
    $27,162
    From related orgs
    $0
    Other
    $1,549

  • Joel Blake Rowland

    DIRECTOR

    Total calculated
    $20,305
    From this org
    $18,756
    From related orgs
    $0
    Other
    $1,549

  • Charles M Pittman

    DIRECTOR

    Total calculated
    $20,247
    From this org
    $18,698
    From related orgs
    $0
    Other
    $1,549

  • Billy Hartley

    VICE PRESIDE

    Total calculated
    $20,135
    From this org
    $18,586
    From related orgs
    $0
    Other
    $1,549

  • A Ray Lancaster

    SEC. TREAS.

    Total calculated
    $18,077
    From this org
    $16,528
    From related orgs
    $0
    Other
    $1,549

  • Algie J Jones Jr

    DIRECTOR

    Total calculated
    $17,889
    From this org
    $16,340
    From related orgs
    $0
    Other
    $1,549

  • James W Fordham Sr

    DIRECTOR

    Total calculated
    $11,422
    From this org
    $9,873
    From related orgs
    $0
    Other
    $1,549

  • John H Turner III

    GENERAL MANA

    Total calculated
    $0

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

None.

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 August 2025
IRS schema version
2024v5.0
Source object
202512309349300861

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