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Nonprofiteer
← COASTAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2025

Filed by COASTAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$78,433,648
Total expenses
$78,433,648
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$78,297,123
Investment income
$99,272
Other revenue
$37,253
Total assets, end of year
$198,082,553
Total liabilities, end of year
$127,484,982
Net assets or fund balances, end of year
$70,597,571
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 $75,784,983 · related or exempt $75,784,983

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

    total $1,222,356 · related or exempt $1,222,356

  • 2c · Program service revenue: POLE RENTAL

    total $877,881 · excluded $877,881

  • 2d · Program service revenue: OTHER CAPITAL CREDITS

    total $411,903 · related or exempt $411,903

  • 3 · Investment income

    total $99,272 · excluded $99,272

  • 11a · Other revenue: TOWER RENTAL INCOME

    total $23,188 · related or exempt $23,188

  • 11b · Other revenue: GAIN ON DISPOSITION OF PROPER

    total $14,065 · related or exempt $14,065

  • 11e · Other revenue, total

    $37,253

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,429,179

  • 5 · Compensation of officers, directors and key employees

    total $734,486

  • 20 · Interest

    total $4,289,313

  • 22 · Depreciation, depletion and amortization

    total $6,219,196

  • 24a · Other expenses: PURCHASED POWER

    total $48,933,591

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $4,509,128

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

    total $3,670,252

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $2,985,438

  • 24e · All other expenses

    total $3,663,065

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,704,616 · end of year $5,272,192

  • 4 · Accounts receivable

    beginning of year $5,871,576 · end of year $9,264,168

  • 8 · Inventories for sale or use

    beginning of year $7,265,675 · end of year $6,539,195

  • 9 · Prepaid expenses and deferred charges

    beginning of year $395,468 · end of year $217,538

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

    $202,286,624

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

    $46,855,172

  • 10c · Land, buildings and equipment, net

    beginning of year $143,832,210 · end of year $155,431,452

  • 13 · Investments: program-related

    beginning of year $20,029,908 · end of year $21,350,083

  • 15 · Other assets

    beginning of year $1,592,232 · end of year $7,925

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,001,369 · end of year $8,935,660

  • 23 · Secured mortgages and notes payable

    beginning of year $100,088,409 · end of year $116,609,147

  • 25 · Other liabilities

    beginning of year $1,938,955 · end of year $1,940,175

  • 29 · Capital stock, trust principal or current funds

    beginning of year $101,275 · end of year $104,505

  • 31 · Retained earnings, endowment or other funds

    beginning of year $68,561,677 · end of year $70,493,066

Mission and programs · 2025

Mission

TO MEET OR EXCEED MEMBER-OWNER'S EXPECTATIONS BY BEING AN OUTSTANDING PROVIDER OF ENERGY SERVICES.

  • N/A

As filed on the 2025 return.

Listed in Part VII

  • John T Woods III

    PRESIDENT

    Total calculated
    $33,952
    From this org
    $33,952
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Reagan Odom

    VICE-PRESIDE

    Total calculated
    $33,569
    From this org
    $33,569
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Laura McGee

    SECRETARY-TR

    Total calculated
    $18,982
    From this org
    $18,982
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kyle Christiansen

    DIRECTOR

    Total calculated
    $12,732
    From this org
    $12,732
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Holly Fields

    DIRECTOR

    Total calculated
    $15,011
    From this org
    $15,011
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Charles Gaskin

    DIRECTOR

    Total calculated
    $15,882
    From this org
    $15,882
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Joseph F Gill

    DIRECTOR

    Total calculated
    $10,482
    From this org
    $10,482
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • John B Kearns

    DIRECTOR

    Total calculated
    $38,731
    From this org
    $38,731
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ken P Luke

    DIRECTOR

    Total calculated
    $8,132
    From this org
    $8,132
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Christopher W Fettes

    EXECUTIVE VP

    Total calculated
    $547,013
    From this org
    $401,322
    From related orgs
    $0
    Other
    $145,691
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $356,389
    Bonus
    $4,524
    Other
    $40,409
    Deferred
    $137,812
    Nontaxable benefits
    $7,879
    Filer's total
    $547,013

  • Emily Cannon

    VP ACCT. & M

    Total calculated
    $267,103
    From this org
    $233,212
    From related orgs
    $0
    Other
    $33,891
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $216,033
    Bonus
    $5,236
    Other
    $11,943
    Deferred
    $30,942
    Nontaxable benefits
    $2,949
    Filer's total
    $267,103

  • John M Bolton

    VP COMM & MA

    Total calculated
    $310,774
    From this org
    $232,979
    From related orgs
    $0
    Other
    $77,795
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,213
    Bonus
    $2,572
    Other
    $31,194
    Deferred
    $69,916
    Nontaxable benefits
    $7,879
    Filer's total
    $310,774

  • Brian Hayes

    VP ENGINEER

    Total calculated
    $284,235
    From this org
    $211,874
    From related orgs
    $0
    Other
    $72,361
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,785
    Bonus
    $3,971
    Other
    $18,118
    Deferred
    $64,482
    Nontaxable benefits
    $7,879
    Filer's total
    $284,235

  • James Horton Jr

    MANAGER, OPE

    Total calculated
    $232,216
    From this org
    $168,777
    From related orgs
    $0
    Other
    $63,439
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,334
    Bonus
    $2,499
    Other
    $15,944
    Deferred
    $55,560
    Nontaxable benefits
    $7,879
    Filer's total
    $232,216

  • Daphanie Harris

    MANAGER, HR

    Total calculated
    $221,231
    From this org
    $168,203
    From related orgs
    $0
    Other
    $53,028
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $164,090
    Bonus
    $2,456
    Other
    $1,657
    Deferred
    $53,028
    Nontaxable benefits
    not reported
    Filer's total
    $221,231

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART III
THE CORPORATION HAS DEPOSITED FUNDS, REPRESENTING DEFERRED COMPENSATION, ON BEHALF OF QUALIFIED EMPLOYEES WHO HAVE ELECTED TO DEFER CERTAIN AMOUNTS OF COMPENSATION. THE CORPORATION IS SUBJECT TO ASSESSMENT FOR ANY AMOUNTS BY WHICH THE MARKET VALUATION OF THE FUNDS MIGHT FALL SHORT OF CONTRACTED AND GUARANTEED AMOUNTS DUE THE EMPLOYEES. THE ANNUAL DEFERRAL OF THE COMPENSATION PLAN IS CALCULATED IN ACCORDANCE WITH IRC SECTION 457, SUBJECT TO CHANGES UNDER IRC SECTION 457(B). THERE WERE NO DISTRIBUTIONS TO FORMER DIRECTORS OR OFFICERS WHICH WERE REQUIRED TO BE REPORTED ON THE FORM 990. PARTICIPANT DEFERRALS ARE INCLUDED IN SCHEDULE J, COLUMN C.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • COASTAL FIBER INC

    C CORP · BROADBAND · GA · 100% owned · share of income $202,058 · share of assets $1,244,353 · controlled entity

    Directly controlled by COAST EMC

Provenance

Return type
form_990
Tax year
2025
Filed
14 April 2026
IRS schema version
2025v4.0
Source object
202611049349301746

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