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Nonprofiteer
← WALTON EMC

Form 990 for tax year 2023

Filed by WALTON EMC.

Totals

Total revenue
$395,538,453
Total expenses
$395,538,453
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$392,326,605
Investment income
$791,280
Other revenue
$2,420,568
Total assets, end of year
$639,137,537
Total liabilities, end of year
$375,683,336
Net assets or fund balances, end of year
$263,454,201
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 $378,593,244 · related or exempt $378,593,244

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

    total $10,726,663 · related or exempt $10,726,663

  • 2c · Program service revenue: POLE RENTAL REVENUE

    total $3,006,698 · excluded $3,006,698

  • 3 · Investment income

    total $791,280 · related or exempt $224,461 · excluded $566,819

  • 11a · Other revenue: EMC SECURITY

    total $2,420,568 · unrelated business $2,420,568

  • 11e · Other revenue, total

    $2,420,568

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $44,509,380

  • 5 · Compensation of officers, directors and key employees

    total $1,566,553

  • 13 · Office expenses

    total $359,518

  • 20 · Interest

    total $7,298,073

  • 22 · Depreciation, depletion and amortization

    total $17,325,291

  • 24a · Other expenses: PURCHASED POWER

    total $273,508,851

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $18,314,272

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $13,750,258

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

    total $9,194,213

  • 24e · All other expenses

    total $9,712,044

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,132,853 · end of year $4,487,239

  • 2 · Savings and temporary cash investments

    beginning of year $29,066,259 · end of year $37,314,688

  • 4 · Accounts receivable

    beginning of year $42,890,231 · end of year $40,295,516

  • 7 · Other notes and loans receivable

    beginning of year $23,927 · end of year $17,404

  • 8 · Inventories for sale or use

    beginning of year $4,796,080 · end of year $5,996,172

  • 9 · Prepaid expenses and deferred charges

    beginning of year $383,633 · end of year $25,419,666

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

    $561,654,955

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

    $223,372,945

  • 10c · Land, buildings and equipment, net

    beginning of year $318,720,049 · end of year $338,282,010

  • 11 · Investments: publicly traded securities

    beginning of year $40,495,006 · end of year $40,487,224

  • 13 · Investments: program-related

    beginning of year $135,302,875 · end of year $146,798,952

  • 15 · Other assets

    beginning of year $35,716 · end of year $38,666

  • 17 · Accounts payable and accrued expenses

    beginning of year $63,794,178 · end of year $72,621,958

  • 23 · Secured mortgages and notes payable

    beginning of year $157,071,305 · end of year $174,246,111

  • 25 · Other liabilities

    beginning of year $121,061,128 · end of year $128,815,267

  • 29 · Capital stock, trust principal or current funds

    beginning of year $954,865 · end of year $948,550

  • 31 · Retained earnings, endowment or other funds

    beginning of year $233,965,153 · end of year $262,505,651

Mission and programs · 2023

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM'S AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • Dawn Taylor

    CHAIRMAN

    Total calculated
    $28,886
    From this org
    $28,886
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Michael Q Lowder

    VICE CHAIRMA

    Total calculated
    $29,200
    From this org
    $29,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Billy Ray Allen

    SEC-TREASURE

    Total calculated
    $28,266
    From this org
    $28,266
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Daniel J Chelko

    DIRECTOR

    Total calculated
    $20,716
    From this org
    $20,716
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Sammy Simonton

    DIRECTOR

    Total calculated
    $28,216
    From this org
    $28,216
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Thomas H Adcock Jr

    DIRECTOR

    Total calculated
    $27,616
    From this org
    $27,616
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Johnny R Allgood

    DIRECTOR

    Total calculated
    $11,158
    From this org
    $11,158
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jason Sidwell

    DIRECTOR

    Total calculated
    $27,692
    From this org
    $27,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jim Whitley

    DIRECTOR

    Total calculated
    $27,316
    From this org
    $27,316
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Stan Pitts

    DIRECTOR

    Total calculated
    $14,250
    From this org
    $14,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ronald T Marshall

    PRES & CEO (

    Total calculated
    $771,127
    From this org
    $627,366
    From related orgs
    $0
    Other
    $143,761
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $534,256
    Bonus
    $24,100
    Other
    $69,010
    Deferred
    $140,733
    Nontaxable benefits
    $3,028
    Filer's total
    $771,127

  • D Ronnie Lee

    PRES & CEO (

    Total calculated
    $552,111
    From this org
    $439,776
    From related orgs
    $0
    Other
    $112,335
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $399,110
    Bonus
    $30,000
    Other
    $10,666
    Deferred
    $109,307
    Nontaxable benefits
    $3,028
    Filer's total
    $552,111

  • Marsha L Shumate

    CFO/SR VP FI

    Total calculated
    $512,240
    From this org
    $411,355
    From related orgs
    $0
    Other
    $100,885
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $349,870
    Bonus
    $24,100
    Other
    $37,385
    Deferred
    $97,857
    Nontaxable benefits
    $3,028
    Filer's total
    $512,240

  • Russell A Delong

    SR VP CORPOR

    Total calculated
    $520,337
    From this org
    $419,872
    From related orgs
    $0
    Other
    $100,465
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $350,128
    Bonus
    $24,100
    Other
    $45,644
    Deferred
    $97,917
    Nontaxable benefits
    $2,548
    Filer's total
    $520,337

  • James M Bottone

    VP ENERGY &

    Total calculated
    $423,507
    From this org
    $335,242
    From related orgs
    $0
    Other
    $88,265
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $295,598
    Bonus
    $24,100
    Other
    $15,544
    Deferred
    $85,237
    Nontaxable benefits
    $3,028
    Filer's total
    $423,507

  • Timothy Morris

    VP ENG & OPS

    Total calculated
    $386,302
    From this org
    $344,154
    From related orgs
    $0
    Other
    $42,148
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $282,320
    Bonus
    $24,100
    Other
    $37,734
    Deferred
    $39,600
    Nontaxable benefits
    $2,548
    Filer's total
    $386,302

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 · Form 990 of other organizations
  • 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WALTON BAINBRIDGE LLC

    GENERATION · GA · income $58,213 · assets $3,156,798

    Directly controlled by YES

  • WALTON DISCOVER LLC

    GENERATION · GA · income $195,846 · assets $4,575,993

    Directly controlled by YES

Related corporations and trusts

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

  • WALTON ENERGY INC

    C CORP · NATURAL GA · GA · 100% owned · share of income $1,358,858 · share of assets $53,788,261 · controlled entity

    Directly controlled by YES

Provenance

Return type
form_990
Tax year
2023
Filed
21 November 2024
IRS schema version
2023v5.0
Source object
202423279349301337

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