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Nonprofiteer
← RANDOLPH ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by RANDOLPH ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$80,699,688
Total expenses
$80,699,688
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$80,494,616
Investment income
$111,302
Other revenue
$93,770
Total assets, end of year
$208,914,035
Total liabilities, end of year
$139,894,269
Net assets or fund balances, end of year
$69,019,766
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 $77,726,866 · related or exempt $77,726,866

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,497,278 · related or exempt $1,497,278

  • 2c · Program service revenue: OTHER ELECTRIC SERVICES

    total $1,008,101 · related or exempt $1,008,101

  • 2d · Program service revenue: POLE RENTAL

    total $262,371 · excluded $262,371

  • 3 · Investment income

    total $111,302 · excluded $111,302

  • 11a · Other revenue: OTHER NONOPERATING REVENUE

    total $93,770 · related or exempt $93,770

  • 11e · Other revenue, total

    $93,770

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,916,676

  • 5 · Compensation of officers, directors and key employees

    total $814,312

  • 20 · Interest

    total $3,899,969

  • 22 · Depreciation, depletion and amortization

    total $7,098,486

  • 24a · Other expenses: PURCHASED POWER

    total $42,976,232

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $8,269,592

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

    total $5,226,274

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $3,373,376

  • 24e · All other expenses

    total $3,124,771

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,172,045 · end of year $2,086,878

  • 2 · Savings and temporary cash investments

    beginning of year $2,631,474 · end of year $1,332,070

  • 4 · Accounts receivable

    beginning of year $9,325,494 · end of year $9,535,769

  • 8 · Inventories for sale or use

    beginning of year $2,775,070 · end of year $2,745,230

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,872,329 · end of year $1,643,763

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

    $246,539,720

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

    $82,541,114

  • 10c · Land, buildings and equipment, net

    beginning of year $157,307,003 · end of year $163,998,606

  • 13 · Investments: program-related

    beginning of year $23,524,329 · end of year $24,373,175

  • 15 · Other assets

    beginning of year $2,319,814 · end of year $3,198,544

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,890,598 · end of year $14,042,464

  • 23 · Secured mortgages and notes payable

    beginning of year $121,824,235 · end of year $122,891,052

  • 25 · Other liabilities

    beginning of year $4,579,453 · end of year $2,960,753

  • 31 · Retained earnings, endowment or other funds

    beginning of year $63,633,272 · end of year $69,019,766

Mission and programs · 2024

Mission

RANDOLPH ELECTRIC MEMBERSHIP CORPORATION IS DEDICATED TO THE DELIVERY OF ENERGY AND SUPERIOR SERVICES IN RESPONSE TO THE NEEDS OF OUR MEMBERS AND COMMUNITIES.

Activities or mission (Part I)

TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

  • RANDOLPH ELECTRIC MEMBERSHIP CORPORATION IS DEDICATED TO THE DELIVERY OF ENERGY AND SUPERIOR SERVICES IN RESPONSE TO THE NEEDS OF ITS MEMBERS AND COMMUNITIES.

As filed on the 2024 return.

Listed in Part VII

  • Dale Lambert

    CEO

    Total calculated
    $386,935
    From this org
    $373,105
    From related orgs
    $0
    Other
    $13,830
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $362,076
    Bonus
    $6,546
    Other
    $4,483
    Deferred
    not reported
    Nontaxable benefits
    $13,830
    Filer's total
    $386,935

  • Dennis Mabe

    CEO

    Total calculated
    $277,180
    From this org
    $265,322
    From related orgs
    $0
    Other
    $11,858
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $262,406
    Bonus
    $1,505
    Other
    $1,411
    Deferred
    not reported
    Nontaxable benefits
    $11,858
    Filer's total
    $277,180

  • Jay Albright

    DISTRICT VP

    Total calculated
    $217,344
    From this org
    $205,697
    From related orgs
    $0
    Other
    $11,647
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $200,747
    Bonus
    $2,548
    Other
    $2,402
    Deferred
    not reported
    Nontaxable benefits
    $11,647
    Filer's total
    $217,344

  • Tracy Bates

    LINE SUPERIN

    Total calculated
    $210,598
    From this org
    $161,514
    From related orgs
    $0
    Other
    $49,084
    Hours/week
    49.8

    Schedule J breakdown matched by us

    Base
    $158,412
    Bonus
    $1,943
    Other
    $1,159
    Deferred
    $35,138
    Nontaxable benefits
    $13,946
    Filer's total
    $210,598

  • Jacob Barlow

    VP ENG. & OP

    Total calculated
    $209,093
    From this org
    $182,357
    From related orgs
    $0
    Other
    $26,736
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,453
    Bonus
    $1,840
    Other
    $1,064
    Deferred
    $7,580
    Nontaxable benefits
    $19,156
    Filer's total
    $209,093

  • Tony Cole

    ENG. SUPERIN

    Total calculated
    $205,731
    From this org
    $158,414
    From related orgs
    $0
    Other
    $47,317
    Hours/week
    46.9

    Schedule J breakdown matched by us

    Base
    $154,871
    Bonus
    $1,943
    Other
    $1,600
    Deferred
    $36,000
    Nontaxable benefits
    $11,317
    Filer's total
    $205,731

  • Fred Smith

    VP ECO. DEVL

    Total calculated
    $188,986
    From this org
    $177,248
    From related orgs
    $0
    Other
    $11,738
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,498
    Bonus
    $2,548
    Other
    $2,202
    Deferred
    not reported
    Nontaxable benefits
    $11,738
    Filer's total
    $188,986

  • Tammie Phillips

    PRESIDENT

    Total calculated
    $21,606
    From this org
    $21,606
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.72

  • Jerry Bowman

    DIRECTOR

    Total calculated
    $19,053
    From this org
    $15,453
    From related orgs
    $0
    Other
    $3,600
    Hours/week
    5.15

  • Scott Cole

    ASST. SEC./T

    Total calculated
    $17,656
    From this org
    $17,656
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.53

  • Lee Isley

    SECRETARY/TR

    Total calculated
    $16,956
    From this org
    $16,956
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • William Maness

    VICE PRESIDE

    Total calculated
    $16,506
    From this org
    $23
    From related orgs
    $0
    Other
    $16,483
    Hours/week
    3.8

  • Jeff Sugg

    DIRECTOR

    Total calculated
    $14,956
    From this org
    $14,956
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.16

  • Steve Harris

    DIRECTOR

    Total calculated
    $14,606
    From this org
    $23
    From related orgs
    $0
    Other
    $14,583
    Hours/week
    3.17

  • Delbert Cranford

    DIRECTOR

    Total calculated
    $14,504
    From this org
    $2,855
    From related orgs
    $0
    Other
    $11,649
    Hours/week
    2.39

  • Larry Routh

    DIRECTOR

    Total calculated
    $14,354
    From this org
    $14,354
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.23

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 · Independent compensation consultant
  • 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
2024
Filed
28 April 2025
IRS schema version
2024v5.0
Source object
202541229349300624

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