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Nonprofiteer
← UPSON ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by UPSON ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$19,627,419
Total expenses
$19,627,419
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$19,244,370
Investment income
$380,065
Other revenue
$2,984
Total assets, end of year
$40,956,526
Total liabilities, end of year
$12,814,128
Net assets or fund balances, end of year
$28,142,398
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 $18,179,829 · related or exempt $18,179,829

  • 2b · Program service revenue: POLE RENTAL

    total $593,815 · excluded $593,815

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $470,726 · related or exempt $470,726

  • 3 · Investment income

    total $380,065 · excluded $380,065

  • 11a · Other revenue: GAS SOUTH

    total $8,632 · unrelated business $8,632

  • 11b · Other revenue: GAIN ON SALE OF ASSET

    total -$5,648 · related or exempt -$5,648

  • 11e · Other revenue, total

    $2,984

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,654,108

  • 5 · Compensation of officers, directors and key employees

    total $472,711

  • 20 · Interest

    total $216,314

  • 22 · Depreciation, depletion and amortization

    total $1,040,948

  • 24a · Other expenses: PURCHASED POWER

    total $10,765,938

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $1,325,703

  • 24c · Other expenses: CONSUMER ACCOUNTS

    total $714,458

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $676,255

  • 24e · All other expenses

    total $760,984

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $726,049 · end of year $2,745,561

  • 2 · Savings and temporary cash investments

    beginning of year $5,828,040 · end of year $5,897,621

  • 4 · Accounts receivable

    beginning of year $1,950,339 · end of year $2,076,348

  • 8 · Inventories for sale or use

    beginning of year $700,663 · end of year $258,824

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,478,908 · end of year $1,154,042

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

    $35,274,650

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

    $14,646,230

  • 10c · Land, buildings and equipment, net

    beginning of year $19,296,288 · end of year $20,628,420

  • 13 · Investments: program-related

    beginning of year $7,797,719 · end of year $8,195,710

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,240,892 · end of year $1,814,319

  • 23 · Secured mortgages and notes payable

    beginning of year $8,612,717 · end of year $8,593,404

  • 25 · Other liabilities

    beginning of year $2,429,811 · end of year $2,406,405

  • 29 · Capital stock, trust principal or current funds

    beginning of year $36,125 · end of year $36,340

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,458,461 · end of year $28,106,058

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • Rapheal Brumbeloe

    CHAIRMAN

    Total calculated
    $15,125
    From this org
    $15,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.69

  • Ronnie M Hendricks

    VICE CHAIRMA

    Total calculated
    $27,040
    From this org
    $27,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.69

  • Lorenzo Wilder Sr

    SEC./TREASUR

    Total calculated
    $19,425
    From this org
    $19,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.86

  • Ronald Vanhouten

    DIRECTOR

    Total calculated
    $18,996
    From this org
    $18,996
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kenny Coggins

    DIRECTOR

    Total calculated
    $17,821
    From this org
    $17,821
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.82

  • James Meeks

    DIRECTOR

    Total calculated
    $16,075
    From this org
    $16,075
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.42

  • Greg Hobbs

    DIRECTOR

    Total calculated
    $7,850
    From this org
    $7,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.86

  • Kenneth Simmons

    PRESIDENT &

    Total calculated
    $72,273
    From this org
    $62,019
    From related orgs
    $0
    Other
    $10,254
    Hours/week
    50

  • Neal Trice

    CEO - JAN-SE

    Total calculated
    $278,106
    From this org
    $228,532
    From related orgs
    $0
    Other
    $49,574
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,255
    Bonus
    $27,432
    Other
    $52,845
    Deferred
    $42,877
    Nontaxable benefits
    $6,697
    Filer's total
    $278,106

  • Johnny Blount

    LINEMAN

    Total calculated
    $137,465
    From this org
    $100,595
    From related orgs
    $0
    Other
    $36,870
    Hours/week
    50

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 · Form 990 of other organizations
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
30 April 2024
IRS schema version
2023v5.0
Source object
202423139349301962

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