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Nonprofiteer
← COLQUITT ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by COLQUITT ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$172,442,912
Total expenses
$173,073,147
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$172,311,093
Investment income
$75,489
Other revenue
$56,330
Total assets, end of year
$432,277,384
Total liabilities, end of year
$277,697,930
Net assets or fund balances, end of year
$154,579,454
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 $168,004,540 · related or exempt $168,004,540

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

    total $2,136,337 · related or exempt $2,136,337

  • 2c · Program service revenue: POLE RENTAL

    total $1,619,122 · excluded $1,619,122

  • 2d · Program service revenue: OTHER CAP CREDITS & PATRON A

    total $551,094 · related or exempt $551,094

  • 3 · Investment income

    total $75,489 · excluded $75,489

  • 11a · Other revenue: GAIN/DISP OF PROPERTY

    total $56,330 · related or exempt $56,330

  • 11e · Other revenue, total

    $56,330

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,710,237

  • 5 · Compensation of officers, directors and key employees

    total $972,143

  • 13 · Office expenses

    total $1,261,010

  • 20 · Interest

    total $7,007,187

  • 22 · Depreciation, depletion and amortization

    total $12,606,684

  • 24a · Other expenses: PURCHASED POWER

    total $96,082,079

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $25,119,286

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $8,918,629

  • 24d · Other expenses: ADMINISTRATIVE & GENERAL

    total $6,526,349

  • 24e · All other expenses

    total $6,869,543

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,520,389 · end of year $16,087,695

  • 4 · Accounts receivable

    beginning of year $16,395,785 · end of year $17,420,640

  • 8 · Inventories for sale or use

    beginning of year $7,920,931 · end of year $11,063,194

  • 9 · Prepaid expenses and deferred charges

    beginning of year $652,013 · end of year $492,053

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

    $405,515,099

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

    $142,815,757

  • 10c · Land, buildings and equipment, net

    beginning of year $250,806,724 · end of year $262,699,342

  • 13 · Investments: program-related

    beginning of year $53,147,554 · end of year $55,731,299

  • 15 · Other assets

    beginning of year $11,988,809 · end of year $68,783,161

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,361,072 · end of year $97,006,387

  • 23 · Secured mortgages and notes payable

    beginning of year $144,682,579 · end of year $155,447,290

  • 25 · Other liabilities

    beginning of year $24,275,728 · end of year $25,244,253

  • 29 · Capital stock, trust principal or current funds

    beginning of year $297,320 · end of year $300,030

  • 31 · Retained earnings, endowment or other funds

    beginning of year $146,815,506 · end of year $154,279,424

Mission and programs · 2024

Mission

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

Activities or mission (Part I)

COLQUITT ELECTRIC MEMBERSHIP CORPORATION SELLS ELECTRICITY AND PROVIDES SERVICES TO MEMBER-OWNERS AS A RURAL ELECTRIC COOPERATIVE.

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

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

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Daniel Nichols

    PRESIDENT/CE

    Total calculated
    $671,677
    From this org
    $551,342
    From related orgs
    $0
    Other
    $120,335
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $535,676
    Bonus
    $1,500
    Other
    $14,166
    Deferred
    $79,300
    Nontaxable benefits
    $41,035
    Filer's total
    $671,677

  • Douglas Loftis

    COO

    Total calculated
    $451,464
    From this org
    $350,293
    From related orgs
    $0
    Other
    $101,171
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $323,069
    Bonus
    $1,500
    Other
    $25,724
    Deferred
    $71,035
    Nontaxable benefits
    $30,136
    Filer's total
    $451,464

  • Charles Tucker

    VP OF ENGINE

    Total calculated
    $380,686
    From this org
    $297,408
    From related orgs
    $0
    Other
    $83,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,457
    Bonus
    $1,500
    Other
    $9,451
    Deferred
    $49,769
    Nontaxable benefits
    $33,509
    Filer's total
    $380,686

  • Andy Croft

    VP OF OPERAT

    Total calculated
    $320,579
    From this org
    $234,691
    From related orgs
    $0
    Other
    $85,888
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,872
    Bonus
    $1,500
    Other
    $5,319
    Deferred
    $56,328
    Nontaxable benefits
    $29,560
    Filer's total
    $320,579

  • Justin Brown

    LINE FOREMAN

    Total calculated
    $292,091
    From this org
    $228,683
    From related orgs
    $0
    Other
    $63,408
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,562
    Bonus
    $1,500
    Other
    $621
    Deferred
    $28,960
    Nontaxable benefits
    $34,448
    Filer's total
    $292,091

  • Jeffery Patterson

    VP INFORMATI

    Total calculated
    $290,950
    From this org
    $229,160
    From related orgs
    $0
    Other
    $61,790
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,350
    Bonus
    $1,500
    Other
    $1,310
    Deferred
    $31,711
    Nontaxable benefits
    $30,079
    Filer's total
    $290,950

  • Gary A Branch

    VICE CHAIRMA

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • B Don Copeland

    DIRECTOR

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bobby E Exum

    DIRECTOR

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ben Griner

    SECRETARY-TR

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Huey Hiers

    DIRECTOR

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Thomas G Cothron III

    DIRECTOR

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Simmie King

    DIRECTOR

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Patti Price Niewoehner

    DIRECTOR

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Clay Underwood

    CHAIRMAN

    Total calculated
    $33,385
    From this org
    $33,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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 · Form 990 of other organizations
  • 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
1 April 2025
IRS schema version
2024v5.0
Source object
202500989349300945

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