Skip to content
Nonprofiteer
← ROANOKE ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by ROANOKE ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$50,932,357
Total expenses
$50,834,146
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$50,220,798
Investment income
$610,903
Other revenue
$100,656
Total assets, end of year
$147,756,295
Total liabilities, end of year
$98,300,303
Net assets or fund balances, end of year
$49,455,992
Program services expenses (Part IX)
$50,834,146
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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 REVENUE

    total $43,603,646 · related or exempt $43,603,646

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $2,878,510 · related or exempt $2,878,510

  • 2c · Program service revenue: OTHER-BROADBAND

    total $2,837,096 · related or exempt $2,837,096

  • 2d · Program service revenue: CAPITAL CREDITS

    total $876,044 · related or exempt $876,044

  • 2e · Program service revenue: POLE RENTAL

    total $25,502 · excluded $25,502

  • 3 · Investment income

    total $606,403 · related or exempt $606,403

  • 7a · Gross sales of assets other than inventory

    other assets $4,500

  • 7c · Gain or loss

    other assets $4,500

  • 7d · Net gain or loss

    total $4,500 · related or exempt $4,500

  • 11a · Other revenue: SUBSIDIARY INCOME/(LOSS)

    total $98,211 · excluded $98,211

  • 11b · Other revenue: RENEWABLE ENERGY CREDITS

    total $2,445 · related or exempt $2,445

  • 11e · Other revenue, total

    $100,656

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,634,513 · program services $1,634,513

  • 5 · Compensation of officers, directors and key employees

    total $482,127 · program services $482,127

  • 20 · Interest

    total $2,812,121 · program services $2,812,121

  • 22 · Depreciation, depletion and amortization

    total $5,248,568 · program services $5,248,568

  • 24a · Other expenses: PURCHASED POWER

    total $20,427,042 · program services $20,427,042

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

    total $6,359,995 · program services $6,359,995

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $4,711,954 · program services $4,711,954

  • 24d · Other expenses: DISTRIBUTION MAINTENANCE

    total $3,779,231 · program services $3,779,231

  • 24e · All other expenses

    total $5,378,595 · program services $5,378,595

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,467,432 · end of year $3,297,103

  • 4 · Accounts receivable

    beginning of year $8,564,159 · end of year $12,736,316

  • 7 · Other notes and loans receivable

    beginning of year $3,941,401 · end of year $3,466,677

  • 8 · Inventories for sale or use

    beginning of year $5,315,678 · end of year $11,815,711

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,145,874 · end of year $404,971

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

    $152,789,696

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

    $44,901,614

  • 10c · Land, buildings and equipment, net

    beginning of year $100,664,135 · end of year $107,888,082

  • 11 · Investments: publicly traded securities

    beginning of year $976,966 · end of year $855,355

  • 13 · Investments: program-related

    beginning of year $6,159,243 · end of year $6,765,129

  • 15 · Other assets

    beginning of year $1,035,731 · end of year $526,951

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,841,906 · end of year $7,104,184

  • 23 · Secured mortgages and notes payable

    beginning of year $68,825,394 · end of year $84,353,159

  • 25 · Other liabilities

    beginning of year $8,099,571 · end of year $6,842,960

  • 29 · Capital stock, trust principal or current funds

    beginning of year $63,865 · end of year $64,605

  • 31 · Retained earnings, endowment or other funds

    beginning of year $48,439,883 · end of year $49,391,387

Mission and programs · 2022

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.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • Allen Speller

    CHAIRMAN

    Total calculated
    $27,950
    From this org
    $27,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.83

  • Robert Riddick

    VICE CHAIRMA

    Total calculated
    $14,950
    From this org
    $14,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.92

  • Delores H Amason

    SECRETARY/TR

    Total calculated
    $10,900
    From this org
    $10,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.65

  • Kenneth Jernigan

    ASST. SEC/TR

    Total calculated
    $11,950
    From this org
    $11,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.75

  • Cynthia Vaughan

    DIRECTOR

    Total calculated
    $8,100
    From this org
    $8,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.64

  • Carolyn Bradley

    DIRECTOR

    Total calculated
    $16,750
    From this org
    $16,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.08

  • Darnell Lee

    DIRECTOR

    Total calculated
    $20,200
    From this org
    $20,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.63

  • Columbus Jeffers

    DIRECTOR

    Total calculated
    $17,500
    From this org
    $17,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.67

  • Chester Deloatch

    DIRECTOR

    Total calculated
    $9
    From this org
    $9
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.16

  • Marva Bond

    DIRECTOR

    Total calculated
    $17,650
    From this org
    $17,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.87

  • Marshall Cherry

    PRESIDENT &

    Total calculated
    $336,168
    From this org
    $276,816
    From related orgs
    $0
    Other
    $59,352
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $251,878
    Bonus
    $12,029
    Other
    $12,909
    Deferred
    $34,318
    Nontaxable benefits
    $25,034
    Filer's total
    $336,168

  • Robert Coughlin

    COO

    Total calculated
    $258,912
    From this org
    $220,340
    From related orgs
    $0
    Other
    $38,572
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $209,260
    Bonus
    $5,734
    Other
    $5,346
    Deferred
    $13,538
    Nontaxable benefits
    $25,034
    Filer's total
    $258,912

  • Cathy Davison

    CFO

    Total calculated
    $220,261
    From this org
    $177,413
    From related orgs
    $0
    Other
    $42,848
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,600
    Bonus
    $9,065
    Other
    $7,748
    Deferred
    $25,539
    Nontaxable benefits
    $17,309
    Filer's total
    $220,261

  • James Liverman

    VP ENG. & OP

    Total calculated
    $225,379
    From this org
    $182,531
    From related orgs
    $0
    Other
    $42,848
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $166,147
    Bonus
    $9,065
    Other
    $7,319
    Deferred
    $25,539
    Nontaxable benefits
    $17,309
    Filer's total
    $225,379

  • Jeremy Whitley

    DIR. OF NETW

    Total calculated
    $160,378
    From this org
    $148,762
    From related orgs
    $0
    Other
    $11,616
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,247
    Bonus
    not reported
    Other
    $4,515
    Deferred
    not reported
    Nontaxable benefits
    $11,616
    Filer's total
    $160,378

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 · 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.

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.

  • ROANOKE CONNECT HOLDINGS LLC

    BROADBAND · NC · income $124,651 · assets $2,378,167

    Directly controlled by ROANOKE EM

Related corporations and trusts

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

  • ROANOKE ENERGY RESOURCES INC

    C CORP · ONLINE PRO · NC · share of income $98,211 · share of assets $141,944 · controlled entity

    Directly controlled by C CORP

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313189349301736

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.