Skip to content
Nonprofiteer
← HALIFAX ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by HALIFAX ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$27,293,993
Total expenses
$27,533,586
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,213,204
Investment income
$9,064
Other revenue
$71,725
Total assets, end of year
$73,341,542
Total liabilities, end of year
$48,371,782
Net assets or fund balances, end of year
$24,969,760
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 $26,923,332 · related or exempt $26,923,332

  • 2b · Program service revenue: PATRONAGE ALLOC. RECEIVED

    total $156,647 · related or exempt $156,647

  • 2c · Program service revenue: CIAC

    total $133,225 · related or exempt $133,225

  • 3 · Investment income

    total $62,773 · excluded $62,773

  • 6a · Gross rents

    personal property $74,725

  • 6c · Rental income or loss

    personal property $74,725

  • 6d · Net rental income or loss

    total $74,725 · excluded $74,725

  • 7a · Gross sales of assets other than inventory

    other assets $36,664

  • 7b · Less cost or other basis and sales expenses

    other assets $90,373

  • 7c · Gain or loss

    other assets -$53,709

  • 7d · Net gain or loss

    total -$53,709 · excluded -$53,709

  • 11a · Other revenue: INCOME FROM SUBSIDIARY

    total -$3,000 · related or exempt -$3,000

  • 11e · Other revenue, total

    -$3,000

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $648,809

  • 5 · Compensation of officers, directors and key employees

    total $748,133

  • 7 · Other salaries and wages

    total $3,074,283

  • 8 · Pension plan contributions

    total $868,355

  • 10 · Payroll taxes

    total $276,003

  • 11b · Fees: legal

    total $46,508

  • 17 · Travel

    total $820,831

  • 19 · Conferences, conventions and meetings

    total $61,742

  • 20 · Interest

    total $1,257,312

  • 22 · Depreciation, depletion and amortization

    total $3,007,042

  • 24a · Other expenses: COST OF POWER

    total $14,540,687

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $1,860,603

  • 24c · Other expenses: DISTRIBUTION OPERATION

    total $1,107,320

  • 24d · Other expenses: ADMIN AND GENERAL

    total $665,456

  • 24e · All other expenses

    total -$1,449,498

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $560,009 · end of year $860,329

  • 2 · Savings and temporary cash investments

    beginning of year $701,396 · end of year $987,405

  • 4 · Accounts receivable

    beginning of year $3,081,270 · end of year $3,027,147

  • 7 · Other notes and loans receivable

    beginning of year $1,663,664 · end of year $1,372,996

  • 8 · Inventories for sale or use

    beginning of year $622,117 · end of year $1,204,091

  • 9 · Prepaid expenses and deferred charges

    beginning of year $58,308 · end of year $335,623

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

    $92,245,355

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

    $34,331,094

  • 10c · Land, buildings and equipment, net

    beginning of year $56,792,116 · end of year $57,914,261

  • 13 · Investments: program-related

    beginning of year $7,831,204 · end of year $7,639,690

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,281,590 · end of year $2,721,691

  • 23 · Secured mortgages and notes payable

    beginning of year $42,185,218 · end of year $44,130,070

  • 25 · Other liabilities

    beginning of year $2,131,766 · end of year $1,520,021

  • 29 · Capital stock, trust principal or current funds

    beginning of year $101,095 · end of year $101,955

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,610,415 · end of year $24,867,805

Mission and programs · 2022

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE 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 SERVICE AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 14,540,687 OTHER SALARIES AND WAGES 3,074,283 DEPRECIATION 3,007,042

As filed on the 2022 return.

Listed in Part VII

  • Charles H Guerry

    EXEC VP/GEN

    Total calculated
    $371,652
    From this org
    $256,380
    From related orgs
    $0
    Other
    $115,272
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,463
    Bonus
    $512
    Other
    $10,405
    Deferred
    $93,480
    Nontaxable benefits
    $21,792
    Filer's total
    $371,652

  • Samuel Moseley

    MGR OF OPERA

    Total calculated
    $188,357
    From this org
    $115,057
    From related orgs
    $0
    Other
    $73,300
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,567
    Bonus
    $541
    Other
    $949
    Deferred
    $45,696
    Nontaxable benefits
    $27,604
    Filer's total
    $188,357

  • Wanda P Cooke

    MANAGER OF F

    Total calculated
    $185,061
    From this org
    $119,363
    From related orgs
    $0
    Other
    $65,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,813
    Bonus
    $541
    Other
    $2,009
    Deferred
    $45,165
    Nontaxable benefits
    $20,533
    Filer's total
    $185,061

  • Roger Chappell

    LINE SUPERIN

    Total calculated
    $156,907
    From this org
    $109,077
    From related orgs
    $0
    Other
    $47,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,801
    Bonus
    $541
    Other
    $735
    Deferred
    $36,096
    Nontaxable benefits
    $11,734
    Filer's total
    $156,907

  • Sanders P Cox

    EMPLOYEE/DIR

    Total calculated
    $103,622
    From this org
    $88,381
    From related orgs
    $0
    Other
    $15,241
    Hours/week
    41

  • Basil D Williams

    PRESIDENT

    Total calculated
    $13,239
    From this org
    $13,239
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Barbara Brayboy

    SEC-TREAS

    Total calculated
    $12,236
    From this org
    $12,236
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Stanley Brothers

    DIRECTOR

    Total calculated
    $11,124
    From this org
    $11,124
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert F Harris

    DIRECTOR

    Total calculated
    $10,239
    From this org
    $10,239
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Harry M Williams III

    DIRECTOR

    Total calculated
    $10,239
    From this org
    $10,239
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Nathaniel M Robertson

    ASST. SEC/TR

    Total calculated
    $10,239
    From this org
    $10,239
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robin Williams

    VICE PRESIDE

    Total calculated
    $10,139
    From this org
    $10,139
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Morell Jones Jr

    FORMER DIREC

    Total calculated
    $8,015
    From this org
    $8,015
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Beverly Walker

    FORMER DIREC

    Total calculated
    $2,328
    From this org
    $2,328
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

SCHEDULE J, PART III
DURING 2022, SANDERS COX WAS A HIGHLY COMPENSATED EMPLOYEE THROUGH MARCH OF 2022 WHEN HE RETIRED FROM HEMC. DURING SEPTEMBER OF 2022, HE WAS ELECTED TO THE BOARD OF DIRECTORS AND SERVED IN THIS CAPACITY FROM SEPTEMBER - DECEMBER. AS A RESULT, SANDERS IS CHECKED AS BOTH A DIRECTOR AND HIGHLY COMPENSATED EMPLOYEE IN PART VII. SANDER'S TOTAL COMPENSATION AS AN EMPLOYEE WAS 98,403 AND HIS TOTAL COMPENSATION AS A DIRECTOR WAS 5,219.

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.

  • HALIFAX RESOURCES & SERVICES

    C CORP · INTERNET · NC · 100% owned · share of income -$3,000 · share of assets $757,627

    Directly controlled by HALIFAX EM

Provenance

Return type
form_990
Tax year
2022
Filed
3 October 2023
IRS schema version
2022v5.0
Source object
202342789349301114

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.