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Nonprofiteer
← AMICALOLA ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by AMICALOLA ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$110,407,403
Total expenses
$113,275,047
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$106,594,582
Investment income
$3,633,019
Other revenue
$179,802
Total assets, end of year
$226,470,714
Total liabilities, end of year
$143,133,490
Net assets or fund balances, end of year
$83,337,224
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 $103,262,254 · related or exempt $103,262,254

  • 2b · Program service revenue: POLE RENTAL

    total $2,520,651 · related or exempt $2,520,651

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

    total $458,273 · related or exempt $458,273

  • 2d · Program service revenue: OTHER CAPITAL CREDITS

    total $353,404 · related or exempt $353,404

  • 3 · Investment income

    total $3,633,019 · related or exempt $3,633,019

  • 11a · Other revenue: MISC NONOPERATING INCOME

    total $155,927 · related or exempt $155,927

  • 11b · Other revenue: GAIN OR LOSS FROM DISP OF PLA

    total $23,875 · related or exempt $23,875

  • 11e · Other revenue, total

    $179,802

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $811,677

  • 5 · Compensation of officers, directors and key employees

    total $804,778

  • 20 · Interest

    total $3,332,779

  • 22 · Depreciation, depletion and amortization

    total $7,793,091

  • 24a · Other expenses: PURCHASED POWER

    total $74,505,792

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $12,120,103

  • 24c · Other expenses: ADMIN. & GENERAL EXP.

    total $6,190,353

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $3,781,193

  • 24e · All other expenses

    total $3,935,281

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,274,322 · end of year $689,081

  • 4 · Accounts receivable

    beginning of year $5,854,619 · end of year $8,508,028

  • 8 · Inventories for sale or use

    beginning of year $5,048,849 · end of year $8,674,364

  • 9 · Prepaid expenses and deferred charges

    beginning of year $630,215 · end of year $243,781

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

    $265,182,915

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

    $93,694,979

  • 10c · Land, buildings and equipment, net

    beginning of year $156,699,685 · end of year $171,487,936

  • 13 · Investments: program-related

    beginning of year $12,132,483 · end of year $12,879,423

  • 15 · Other assets

    beginning of year $16,208,613 · end of year $23,988,101

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,295,537 · end of year $15,331,250

  • 23 · Secured mortgages and notes payable

    beginning of year $78,733,676 · end of year $105,408,566

  • 25 · Other liabilities

    beginning of year $26,175,512 · end of year $22,393,674

  • 29 · Capital stock, trust principal or current funds

    beginning of year $876,537 · end of year $902,617

  • 31 · Retained earnings, endowment or other funds

    beginning of year $83,767,524 · end of year $82,434,607

Mission and programs · 2022

Mission

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.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • Charles R Fendley

    CHAIRMAN

    Total calculated
    $30,050
    From this org
    $30,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.06

  • John H Bennett Jr

    VICE CHAIRMA

    Total calculated
    $28,300
    From this org
    $28,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.91

  • Randall Ponder

    SEC.-TREAS.

    Total calculated
    $29,150
    From this org
    $29,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.04

  • Travis Cline

    DIRECTOR

    Total calculated
    $29,750
    From this org
    $29,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.59

  • James H Bryan

    DIRECTOR

    Total calculated
    $18,950
    From this org
    $18,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.05

  • Kathy Burt

    DIRECTOR

    Total calculated
    $22,950
    From this org
    $22,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.75

  • David J Pierce

    DIRECTOR

    Total calculated
    $29,450
    From this org
    $29,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.34

  • Reggie Stowers

    DIRECTOR

    Total calculated
    $27,350
    From this org
    $27,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.37

  • Edward Tucker

    DIRECTOR

    Total calculated
    $29,700
    From this org
    $29,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.06

  • Shelley Cantrell

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.38

  • Todd Payne

    PRESIDENT &

    Total calculated
    $551,328
    From this org
    $417,622
    From related orgs
    $0
    Other
    $133,706
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $349,821
    Bonus
    $67,048
    Other
    $753
    Deferred
    $96,380
    Nontaxable benefits
    $37,326
    Filer's total
    $551,328

  • Penelope Marshall

    CFO

    Total calculated
    $287,732
    From this org
    $238,100
    From related orgs
    $0
    Other
    $49,632
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $194,810
    Bonus
    $42,537
    Other
    $753
    Deferred
    $22,941
    Nontaxable benefits
    $26,691
    Filer's total
    $287,732

  • Joel Fellows

    SENIOR VP-OP

    Total calculated
    $209,120
    From this org
    $183,659
    From related orgs
    $0
    Other
    $25,461
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,199
    Bonus
    $42,707
    Other
    $753
    Deferred
    $147
    Nontaxable benefits
    $25,314
    Filer's total
    $209,120

  • Kenneth Payne

    MGR. OF ENG

    Total calculated
    $210,519
    From this org
    $159,462
    From related orgs
    $0
    Other
    $51,057
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $131,002
    Bonus
    $27,707
    Other
    $753
    Deferred
    $26,338
    Nontaxable benefits
    $24,719
    Filer's total
    $210,519

  • Leonard Ray Carpenter

    MGR. DISTRIC

    Total calculated
    $173,706
    From this org
    $148,793
    From related orgs
    $0
    Other
    $24,913
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $120,333
    Bonus
    $27,707
    Other
    $753
    Deferred
    $387
    Nontaxable benefits
    $24,526
    Filer's total
    $173,706

  • Nathaniel West

    VP-OPERATION

    Total calculated
    $214,515
    From this org
    $142,214
    From related orgs
    $0
    Other
    $72,301
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $110,014
    Bonus
    $31,447
    Other
    $753
    Deferred
    $40,752
    Nontaxable benefits
    $31,549
    Filer's total
    $214,515

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
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
2022
Filed
10 October 2023
IRS schema version
2022v5.0
Source object
202322849349300112

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