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Nonprofiteer
← PITT & GREENE ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by PITT & GREENE ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$27,352,063
Total expenses
$25,837,117
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$26,759,688
Investment income
$481,412
Other revenue
$110,963
Total assets, end of year
$65,393,511
Total liabilities, end of year
$30,296,646
Net assets or fund balances, end of year
$35,096,865
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $26,198,141 · related or exempt $26,198,141

  • 2b · Program service revenue: PATRONAGE CAPITAL

    total $561,547 · related or exempt $561,547

  • 3 · Investment income

    total $202,553 · excluded $202,553

  • 6a · Gross rents

    real property $11,324

  • 6b · Less rental expenses

    real property $1,863

  • 6c · Rental income or loss

    real property $9,461

  • 6d · Net rental income or loss

    total $9,461 · unrelated business $9,461

  • 7a · Gross sales of assets other than inventory

    other assets $303,050

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

    other assets $24,191

  • 7c · Gain or loss

    other assets $278,859

  • 7d · Net gain or loss

    total $278,859 · excluded $278,859

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $101,502 · related or exempt $101,502

  • 11e · Other revenue, total

    $101,502

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,107,101

  • 9 · Other employee benefits

    total $2,268,809

  • 11b · Fees: legal

    total $44,458

  • 11c · Fees: accounting

    total $61,780

  • 12 · Advertising and promotion

    total $119,825

  • 16 · Occupancy

    total $1,407,993

  • 17 · Travel

    total $3,187

  • 19 · Conferences, conventions and meetings

    total $133,850

  • 20 · Interest

    total $911,117

  • 22 · Depreciation, depletion and amortization

    total $2,612,198

  • 23 · Insurance

    total $66,139

  • 24a · Other expenses: COST OF POWER

    total $15,168,741

  • 24b · Other expenses: ADMINISTRATIVE COSTS

    total $422,824

  • 24c · Other expenses: MAINTENANCE

    total $347,919

  • 24d · Other expenses: CONSUMER ACCOUNT EXPENS

    total $75,553

  • 24e · All other expenses

    total $85,623

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $753,355 · end of year $725,479

  • 2 · Savings and temporary cash investments

    beginning of year $3,000,000 · end of year $2,575,000

  • 4 · Accounts receivable

    beginning of year $3,801,175 · end of year $3,076,212

  • 8 · Inventories for sale or use

    beginning of year $587,726 · end of year $476,093

  • 9 · Prepaid expenses and deferred charges

    beginning of year $363,028 · end of year $66,154

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

    $84,432,011

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

    $34,410,488

  • 10c · Land, buildings and equipment, net

    beginning of year $49,518,063 · end of year $50,021,523

  • 13 · Investments: program-related

    beginning of year $7,988,396 · end of year $8,453,050

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,108,713 · end of year $4,038,481

  • 23 · Secured mortgages and notes payable

    beginning of year $22,694,936 · end of year $21,332,717

  • 25 · Other liabilities

    beginning of year $6,466,340 · end of year $4,925,448

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $33,741,754 · end of year $35,096,865

Mission and programs · 2024

Mission

IT SHALL BE THE AIM OF PITT AND GREENE ELECTRIC MEMBERSHIP CORPORATION TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

  • ELECTRIC DISTRIBUTION CORPORATION SUPPLYING ELECTRIC POWER TO ITS MEMBERS AT LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

As filed on the 2024 return.

Listed in Part VII

  • William E Askew

    VICE PRESIDENT

    Total calculated
    $14,395
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,395
    Hours/week
    1.41

  • Kirby Bell

    DIRECTOR

    Total calculated
    $14,382
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,382
    Hours/week
    1.23

  • Jack Edmonson

    DIRECTOR

    Total calculated
    $14,390
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,390
    Hours/week
    0.61

  • Richard S Harper

    DIRECTOR

    Total calculated
    $14,395
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,395
    Hours/week
    0.75

  • Jeffery N Letchworth

    SECRETARY/TREASURER

    Total calculated
    $14,395
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,395
    Hours/week
    0.75

  • Garland Mozingo

    DIRECTOR

    Total calculated
    $14,395
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,395
    Hours/week
    1.05

  • James Shackleford

    DIRECTOR

    Total calculated
    $14,390
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,390
    Hours/week
    0.73

  • Ernest G Smith

    PRESIDENT

    Total calculated
    $14,395
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,395
    Hours/week
    1.56

  • Michael Hardy

    DIRECTOR

    Total calculated
    $14,395
    From this org
    $12,000
    From related orgs
    $0
    Other
    $2,395
    Hours/week
    0.54

  • Mark A Sugg

    GENERAL MANAGER/EVP

    Total calculated
    $581,541
    From this org
    $494,592
    From related orgs
    $0
    Other
    $86,949
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $391,024
    Bonus
    $8,457
    Other
    $95,111
    Deferred
    $36,225
    Nontaxable benefits
    $50,724
    Filer's total
    $581,541

  • Anthony W Barrow

    DIRECTOR - ENGINEERING

    Total calculated
    $297,872
    From this org
    $247,329
    From related orgs
    $0
    Other
    $50,543
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,207
    Bonus
    $5,071
    Other
    $4,051
    Deferred
    $25,417
    Nontaxable benefits
    $25,126
    Filer's total
    $297,872

  • Patsy B Rowe

    DIRECTOR - FINANCE

    Total calculated
    $289,839
    From this org
    $192,111
    From related orgs
    $0
    Other
    $97,728
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,330
    Bonus
    $3,943
    Other
    $4,838
    Deferred
    $73,070
    Nontaxable benefits
    $24,658
    Filer's total
    $289,839

  • Austin Dixon

    CFO

    Total calculated
    $225,179
    From this org
    $156,890
    From related orgs
    $0
    Other
    $68,289
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,311
    Bonus
    $3,289
    Other
    $290
    Deferred
    $32,140
    Nontaxable benefits
    $36,149
    Filer's total
    $225,179

  • Milton M Grant

    DIRECTOR - OPERATIONS

    Total calculated
    $253,471
    From this org
    $191,083
    From related orgs
    $0
    Other
    $62,388
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,734
    Bonus
    $4,005
    Other
    $3,344
    Deferred
    $19,612
    Nontaxable benefits
    $42,776
    Filer's total
    $253,471

  • Tammy Murphy

    DIRECTOR OF HUMAN RESOURCE

    Total calculated
    $380,738
    From this org
    $173,615
    From related orgs
    $0
    Other
    $207,123
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,623
    Bonus
    $3,567
    Other
    $6,425
    Deferred
    $170,990
    Nontaxable benefits
    $36,133
    Filer's total
    $380,738

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.

Provenance

Return type
form_990
Tax year
2024
Filed
9 June 2025
IRS schema version
2024v5.1
Source object
202531619349300243

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