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Nonprofiteer
← WASHINGTON ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by WASHINGTON ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$64,821,678
Total expenses
$64,821,678
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$49,951,860
Investment income
$91,943
Other revenue
$14,777,875
Total assets, end of year
$143,528,118
Total liabilities, end of year
$94,086,421
Net assets or fund balances, end of year
$49,441,697
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 $45,287,225 · related or exempt $45,287,225

  • 2b · Program service revenue: POLE RENTAL AND ACCESS

    total $2,573,812 · excluded $2,573,812

  • 2c · Program service revenue: PATRONAGE CAPITAL CREDITS

    total $1,522,040 · related or exempt $1,522,040

  • 2d · Program service revenue: OTHER REVENUE

    total $568,783 · related or exempt $568,783

  • 3 · Investment income

    total $91,943 · excluded $91,943

  • 11a · Other revenue: ARPA GRANT FUNDS

    total $14,470,128 · unrelated business $14,470,128

  • 11b · Other revenue: REVENUE SHARE - BROADBAND

    total $307,747 · unrelated business $307,747

  • 11e · Other revenue, total

    $14,777,875

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,826,602

  • 5 · Compensation of officers, directors and key employees

    total $505,412

  • 7 · Other salaries and wages

    total $994,825

  • 13 · Office expenses

    total $443,525

  • 20 · Interest

    total $2,952,051

  • 22 · Depreciation, depletion and amortization

    total $3,252,776

  • 24a · Other expenses: BROADBAND ACTIVIES

    total $14,898,464

  • 24b · Other expenses: PURCHASED POWER

    total $30,068,509

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $3,301,661

  • 24d · Other expenses: DISTRIBUTION MAINTENANCE

    total $3,129,223

  • 24e · All other expenses

    total $2,448,630

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,154,469 · end of year $2,576,461

  • 2 · Savings and temporary cash investments

    beginning of year $750,000 · end of year $9,750,000

  • 4 · Accounts receivable

    beginning of year $5,281,480 · end of year $4,613,106

  • 8 · Inventories for sale or use

    beginning of year $9,628,448 · end of year $8,114,800

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,006,027 · end of year $1,070,678

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

    $134,624,495

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

    $37,948,330

  • 10c · Land, buildings and equipment, net

    beginning of year $82,168,857 · end of year $96,676,165

  • 13 · Investments: program-related

    beginning of year $19,345,683 · end of year $20,704,915

  • 15 · Other assets

    end of year $21,993

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,578,205 · end of year $6,457,321

  • 21 · Escrow or custodial account liability

    beginning of year $315 · end of year $215

  • 23 · Secured mortgages and notes payable

    beginning of year $62,953,094 · end of year $85,351,718

  • 25 · Other liabilities

    beginning of year $2,240,421 · end of year $2,277,167

  • 29 · Capital stock, trust principal or current funds

    beginning of year $68,635 · end of year $69,074

  • 31 · Retained earnings, endowment or other funds

    beginning of year $47,494,294 · end of year $49,372,623

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • Mildred Jackson

    CHAIRMAN

    Total calculated
    $14,801
    From this org
    $14,801
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Michael Beckworth

    VICE CHAIRMA

    Total calculated
    $16,965
    From this org
    $16,965
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • George Michael McDonald

    SECRETARY/TR

    Total calculated
    $20,115
    From this org
    $20,115
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • William T Helton

    DIRECTOR

    Total calculated
    $14,515
    From this org
    $14,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jeffrey T Lacksen

    DIRECTOR

    Total calculated
    $14,515
    From this org
    $14,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kenneth L Vickers

    DIRECTOR

    Total calculated
    $14,515
    From this org
    $14,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brenda English

    DIRECTOR

    Total calculated
    $17,316
    From this org
    $17,316
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Wendy H Sellers

    PRESIDENT &

    Total calculated
    $392,670
    From this org
    $265,979
    From related orgs
    $0
    Other
    $126,691
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $260,742
    Bonus
    $1,030
    Other
    $4,207
    Deferred
    $94,436
    Nontaxable benefits
    $32,255
    Filer's total
    $392,670

  • Michael Davis

    VP OF FINANC

    Total calculated
    $241,434
    From this org
    $158,727
    From related orgs
    $0
    Other
    $82,707
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,330
    Bonus
    $927
    Other
    $470
    Deferred
    $58,601
    Nontaxable benefits
    $24,106
    Filer's total
    $241,434

  • Kevin Morris

    VP ENGINEERI

    Total calculated
    $198,445
    From this org
    $158,392
    From related orgs
    $0
    Other
    $40,053
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,238
    Bonus
    not reported
    Other
    $1,154
    Deferred
    $12,485
    Nontaxable benefits
    $27,568
    Filer's total
    $198,445

  • Chris Biggers

    VP INFORMATI

    Total calculated
    $228,139
    From this org
    $150,094
    From related orgs
    $0
    Other
    $78,045
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,913
    Bonus
    $1,087
    Other
    $2,094
    Deferred
    $53,901
    Nontaxable benefits
    $24,144
    Filer's total
    $228,139

  • Zan Helton

    ENGINEERING

    Total calculated
    $166,719
    From this org
    $109,068
    From related orgs
    $0
    Other
    $57,651
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $107,795
    Bonus
    $997
    Other
    $276
    Deferred
    $36,421
    Nontaxable benefits
    $21,230
    Filer's total
    $166,719

  • Denise Wombles

    MEMBER SERVI

    Total calculated
    $160,089
    From this org
    $104,014
    From related orgs
    $0
    Other
    $56,075
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $102,108
    Bonus
    $1,171
    Other
    $735
    Deferred
    $38,298
    Nontaxable benefits
    $17,777
    Filer's total
    $160,089

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.

Provenance

Return type
form_990
Tax year
2023
Filed
21 April 2025
IRS schema version
2023v6.0
Source object
202511159349300811

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