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← ENERGYUNITED ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by ENERGYUNITED ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$301,097,441
Total expenses
$291,450,076
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$296,270,181
Investment income
$1,123,698
Other revenue
$3,703,562
Total assets, end of year
$620,859,332
Total liabilities, end of year
$334,669,452
Net assets or fund balances, end of year
$286,189,880
Program services expenses (Part IX)
$291,450,076
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$291,450,076

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.

  • 2a · Program service revenue: ELECTRIC SALES-MEMBERS

    total $290,378,473 · related or exempt $290,378,473

  • 2b · Program service revenue: FEES AND SERVICE CHARGE

    total $4,387,465 · related or exempt $4,387,465

  • 2c · Program service revenue: ELECTRIC SALES-NON MEMB

    total $1,504,243 · related or exempt $1,504,243

  • 3 · Investment income

    total $1,123,698 · related or exempt $1,123,698

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: PATRONAGE ALLOCATIONS

    total $1,727,832 · related or exempt $1,727,832

  • 11b · Other revenue: OTHER

    total $1,975,730 · related or exempt $1,975,730

  • 11e · Other revenue, total

    $3,703,562

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,619,403 · program services $3,619,403

  • 7 · Other salaries and wages

    total $16,814,906 · program services $16,814,906

  • 9 · Other employee benefits

    total $8,213,009 · program services $8,213,009

  • 10 · Payroll taxes

    total $1,436,277 · program services $1,436,277

  • 11a · Fees: management

    total $1,371,619 · program services $1,371,619

  • 11b · Fees: legal

    total $221,160 · program services $221,160

  • 11c · Fees: accounting

    total $32,000 · program services $32,000

  • 11g · Fees: other

    total $12,095,993 · program services $12,095,993

  • 12 · Advertising and promotion

    total $330,417 · program services $330,417

  • 13 · Office expenses

    total $1,887,361 · program services $1,887,361

  • 14 · Information technology

    total $2,120,150 · program services $2,120,150

  • 16 · Occupancy

    total $163,461 · program services $163,461

  • 17 · Travel

    total $2,328,976 · program services $2,328,976

  • 19 · Conferences, conventions and meetings

    total $480,998 · program services $480,998

  • 20 · Interest

    total $8,897,002 · program services $8,897,002

  • 22 · Depreciation, depletion and amortization

    total $27,109,042 · program services $27,109,042

  • 23 · Insurance

    total $794,434 · program services $794,434

  • 24a · Other expenses: COST OF POWER

    total $195,418,065 · program services $195,418,065

  • 24b · Other expenses: PROPERTYGROSS REC TAX

    total $2,549,941 · program services $2,549,941

  • 24c · Other expenses: OTHER

    total $1,848,340 · program services $1,848,340

  • 24d · Other expenses: MAINT AND EXP

    total $2,291,237 · program services $2,291,237

  • 24e · All other expenses

    total $1,426,285 · program services $1,426,285

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,508,513 · end of year $2,954,581

  • 4 · Accounts receivable

    beginning of year $27,611,913 · end of year $30,702,201

  • 5 · Loans and receivables from officers and key people

    beginning of year $9,526 · end of year $5,292

  • 7 · Other notes and loans receivable

    beginning of year $2,067,862 · end of year $2,176,000

  • 8 · Inventories for sale or use

    beginning of year $19,621,951 · end of year $18,618,917

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

    $801,742,046

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

    $295,668,419

  • 10c · Land, buildings and equipment, net

    beginning of year $467,693,266 · end of year $506,073,627

  • 12 · Investments: other securities

    beginning of year $32,056,193 · end of year $32,704,285

  • 15 · Other assets

    beginning of year $27,194,490 · end of year $27,624,429

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,144,449 · end of year $26,414,803

  • 23 · Secured mortgages and notes payable

    beginning of year $245,735,356 · end of year $270,967,249

  • 25 · Other liabilities

    beginning of year $34,417,934 · end of year $37,287,400

  • 31 · Retained earnings, endowment or other funds

    beginning of year $265,465,975 · end of year $286,189,880

Mission and programs · 2024

Mission

PROVIDE ELECTRICAL SERVICE TO MEMBERS

  • PROVIDE ELECTRICAL SERVICE TO MEMBERS

    Expenses $291,450,076

As filed on the 2024 return.

Listed in Part VII

  • Thomas Golden

    CEO

    Total calculated
    $615,995
    From this org
    $576,104
    From related orgs
    $0
    Other
    $39,891
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $523,603
    Bonus
    $52,501
    Other
    not reported
    Deferred
    $33,270
    Nontaxable benefits
    $6,621
    Filer's total
    $615,995

  • Howard W Wilkins

    CEO-RETIRED

    Total calculated
    $525,090
    From this org
    $0
    From related orgs
    $0
    Other
    $525,090
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    $525,090
    Nontaxable benefits
    not reported
    Filer's total
    $525,090

  • Alec Natt

    CFO

    Total calculated
    $387,325
    From this org
    $333,746
    From related orgs
    $0
    Other
    $53,579
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $298,180
    Bonus
    $35,566
    Other
    not reported
    Deferred
    $30,596
    Nontaxable benefits
    $22,983
    Filer's total
    $387,325

  • Brett Alkins

    COO

    Total calculated
    $379,992
    From this org
    $326,038
    From related orgs
    $0
    Other
    $53,954
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $293,295
    Bonus
    $32,743
    Other
    not reported
    Deferred
    $23,980
    Nontaxable benefits
    $29,974
    Filer's total
    $379,992

  • Pamela Britt

    CHRO

    Total calculated
    $367,122
    From this org
    $315,752
    From related orgs
    $0
    Other
    $51,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,871
    Bonus
    $31,881
    Other
    not reported
    Deferred
    $28,714
    Nontaxable benefits
    $22,656
    Filer's total
    $367,122

  • Steve McCachern

    VP ENERGY DELIVERY

    Total calculated
    $325,999
    From this org
    $290,127
    From related orgs
    $0
    Other
    $35,872
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,008
    Bonus
    $30,119
    Other
    not reported
    Deferred
    $10,444
    Nontaxable benefits
    $25,428
    Filer's total
    $325,999

  • Laquisha Parks

    VP ENERGY SERVICES

    Total calculated
    $303,303
    From this org
    $261,481
    From related orgs
    $0
    Other
    $41,822
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,379
    Bonus
    $28,102
    Other
    not reported
    Deferred
    $23,314
    Nontaxable benefits
    $18,508
    Filer's total
    $303,303

  • Matt M Sharpe

    DIRECTOR OF OPERATIONS

    Total calculated
    $295,275
    From this org
    $190,495
    From related orgs
    $0
    Other
    $104,780
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,196
    Bonus
    $13,299
    Other
    not reported
    Deferred
    $83,988
    Nontaxable benefits
    $20,792
    Filer's total
    $295,275

  • Ryan Gardner

    VP INFORMATION TECH

    Total calculated
    $265,411
    From this org
    $224,624
    From related orgs
    $0
    Other
    $40,787
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,284
    Bonus
    $4,340
    Other
    not reported
    Deferred
    $22,250
    Nontaxable benefits
    $18,537
    Filer's total
    $265,411

  • W Max Walser

    FORMER PRESIDENT-RETIRED

    Total calculated
    $259,826
    From this org
    $31,771
    From related orgs
    $0
    Other
    $228,055
    Hours/week
    9

    Schedule J breakdown matched by us

    Base
    $31,771
    Bonus
    not reported
    Other
    not reported
    Deferred
    $228,055
    Nontaxable benefits
    not reported
    Filer's total
    $259,826

  • Brian Koontz

    LINEMAN

    Total calculated
    $212,977
    From this org
    $188,313
    From related orgs
    $0
    Other
    $24,664
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,248
    Bonus
    $7,065
    Other
    not reported
    Deferred
    $4,848
    Nontaxable benefits
    $19,816
    Filer's total
    $212,977

  • Brett Berry

    LINEMAN

    Total calculated
    $212,791
    From this org
    $173,746
    From related orgs
    $0
    Other
    $39,045
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,559
    Bonus
    $1,187
    Other
    not reported
    Deferred
    $11,632
    Nontaxable benefits
    $27,413
    Filer's total
    $212,791

  • Lewie Favre

    LINEMAN

    Total calculated
    $209,204
    From this org
    $182,106
    From related orgs
    $0
    Other
    $27,098
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,222
    Bonus
    $1,884
    Other
    not reported
    Deferred
    $10,680
    Nontaxable benefits
    $16,418
    Filer's total
    $209,204

  • Brian Dacaret

    IT MANAGER

    Total calculated
    $202,944
    From this org
    $174,825
    From related orgs
    $0
    Other
    $28,119
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,947
    Bonus
    $12,878
    Other
    not reported
    Deferred
    $4,848
    Nontaxable benefits
    $23,271
    Filer's total
    $202,944

  • Brian Sisson

    PRESIDENT

    Total calculated
    $29,432
    From this org
    $22,232
    From related orgs
    $0
    Other
    $7,200
    Hours/week
    8

  • C Edgar Cartner

    DIRECTOR

    Total calculated
    $29,278
    From this org
    $27,845
    From related orgs
    $0
    Other
    $1,433
    Hours/week
    6

  • Craig W Black

    TREASURER

    Total calculated
    $27,232
    From this org
    $27,232
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Ronnie Harrison

    SECRETARY

    Total calculated
    $26,855
    From this org
    $24,255
    From related orgs
    $0
    Other
    $2,600
    Hours/week
    6

  • Jerry S Anderson

    DIRECTOR

    Total calculated
    $26,614
    From this org
    $26,614
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Cheryl Wright

    VICE PRESIDENT

    Total calculated
    $25,632
    From this org
    $23,052
    From related orgs
    $0
    Other
    $2,580
    Hours/week
    6

  • Zolee Riggs

    DIRECTOR

    Total calculated
    $22,232
    From this org
    $22,232
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Lisa Pullis

    DIRECTOR

    Total calculated
    $15,088
    From this org
    $15,088
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jill Doss-Raines

    DIRECTOR

    Total calculated
    $8,808
    From this org
    $8,808
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

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

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.

  • NATIONAL RURAL UTILITIES COOPE

    501C4 · BANKING · VA

  • NC ELECTRIC MEMBERSHIP CORPORA

    501C12 · WHOLESALE ENERGY · NC

  • TARHEEL ELECTRIC MEMBERSHIP CO

    501C12 · WAREHOUSING · NC

  • COBANK

    501C12 · BANKING · CO

  • FEDERAL RURAL ELECTRIC INSURAN

    501C12 · INSURANCE · KS

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.

  • ENERGYUNITED SERVICES CORPORAT

    C Corp · ENERGY SERVICES · NC · 100% owned

Provenance

Return type
form_990
Tax year
2024
Filed
24 June 2025
IRS schema version
2024v5.1
Source object
202501989349301660

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