Form 990 for tax year 2022
Filed by CUMBERLAND ELECTRIC MEMBERSHIP CORP.
Totals
- Total revenue
- $355,388,039
- Total expenses
- $346,845,038
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $347,146,889
- Investment income
- $2,402,898
- Other revenue
- $5,838,252
- Total assets, end of year
- $582,037,721
- Total liabilities, end of year
- $337,118,120
- Net assets or fund balances, end of year
- $244,919,601
- Program services expenses (Part IX)
- $343,433,192
- Management and general expenses
- $3,411,846
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $343,433,192
Program services were 99.0% 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: ELECT AND TELECOM REVENUE
total $347,146,889 · related or exempt $347,146,889
-
3 · Investment income
total $2,402,898 · related or exempt $2,402,898
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: DIELECTRIC TESTING INCOME
total $566,230 · unrelated business $566,230
-
11b · Other revenue: POLE RENTAL INCOME
total $5,272,022 · excluded $5,272,022
-
11e · Other revenue, total
$5,838,252
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $919,386 · program services $919,386
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $27,695,233 · program services $27,695,233
-
8 · Pension plan contributions
total $6,478,913 · program services $6,478,913
-
9 · Other employee benefits
total $5,472,097 · program services $5,472,097
-
10 · Payroll taxes
total $2,050,967 · program services $2,050,967
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $2,901,763 · program services $2,901,763
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $7,625,881 · program services $7,625,881
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $21,579,751 · program services $21,579,751
-
23 · Insurance
total $0
-
24a · Other expenses: COST OF POWER
total $242,990,216 · program services $242,990,216
-
24b · Other expenses: DISTRIBUTION EXP - MAINTENANCE
total $8,927,050 · program services $8,927,050
-
24c · Other expenses: DISTRIBUTION EXP - OPERATIONS
total $8,555,326 · program services $8,555,326
-
24d · Other expenses: ADMINISTRATIVE
total $3,411,846 · management and general $3,411,846
-
24e · All other expenses
total $8,236,609 · program services $8,236,609
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,104,740 · end of year $38,272
-
2 · Savings and temporary cash investments
beginning of year $36,050,000 · end of year $38,077,007
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $33,668,334 · end of year $39,151,496
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $12,620,400 · end of year $13,900,667
-
9 · Prepaid expenses and deferred charges
beginning of year $43,030,310 · end of year $4,589,320
-
10a · Land, buildings and equipment: cost or other basis
$678,812,372
-
10b · Land, buildings and equipment: accumulated depreciation
$205,391,597
-
10c · Land, buildings and equipment, net
beginning of year $419,609,200 · end of year $473,420,775
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
beginning of year $2,305,433 · end of year $2,299,990
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $10,493,770 · end of year $10,560,194
-
17 · Accounts payable and accrued expenses
beginning of year $51,916,103 · end of year $32,302,302
-
19 · Deferred revenue
end of year $1,239,670
-
23 · Secured mortgages and notes payable
beginning of year $249,917,709 · end of year $281,041,539
-
25 · Other liabilities
beginning of year $21,953,320 · end of year $22,534,609
-
29 · Capital stock, trust principal or current funds
beginning of year $1,033,560 · end of year $1,055,800
-
31 · Retained earnings, endowment or other funds
beginning of year $235,061,495 · end of year $243,863,801
Mission and programs · 2022
Mission
ELECTRIC AND TELECOMMUNICATIONS COOPERATIVE
-
WE PROVIDE ELECTRIC SERVICE AND TELECOMMUNICATION SERVICES TO OUR MEMBERS IN THE MIDDLE TENNESSEE AREA. WE HAD 111,227 MEMBERS AT JUNE 30, 2023.
Expenses $343,433,192 · Revenue $347,146,890
As filed on the 2022 return.
Listed in Part VII
-
Christopher DavisCHRISTOPHER DAVIS
GENERAL MANAGER
- Total calculated
- $670,698
- From this org
- $313,005
- From related orgs
- $0
- Other
- $357,693
- Hours/week
- 47
Schedule J breakdown matched by us
- Base
- $313,005
- Bonus
- not reported
- Other
- not reported
- Deferred
- $333,575
- Nontaxable benefits
- $24,118
- Filer's total
- $670,698
-
Annebelle ChesterANNEBELLE CHESTER
MGR, ADMIN DIV
- Total calculated
- $363,695
- From this org
- $191,029
- From related orgs
- $0
- Other
- $172,666
- Hours/week
- 43
Schedule J breakdown matched by us
- Base
- $191,029
- Bonus
- not reported
- Other
- not reported
- Deferred
- $148,548
- Nontaxable benefits
- $24,118
- Filer's total
- $363,695
-
William AbernathyWILLIAM ABERNATHY
MGR, OPER DIV
- Total calculated
- $337,135
- From this org
- $197,308
- From related orgs
- $0
- Other
- $139,827
- Hours/week
- 47
Schedule J breakdown matched by us
- Base
- $197,308
- Bonus
- not reported
- Other
- not reported
- Deferred
- $115,709
- Nontaxable benefits
- $24,118
- Filer's total
- $337,135
-
Mark CookMARK COOK
MANAGER, BROAD DIV
- Total calculated
- $325,672
- From this org
- $190,976
- From related orgs
- $0
- Other
- $134,696
- Hours/week
- 48
Schedule J breakdown matched by us
- Base
- $190,976
- Bonus
- not reported
- Other
- not reported
- Deferred
- $110,578
- Nontaxable benefits
- $24,118
- Filer's total
- $325,672
-
Michael BlackwellMICHAEL BLACKWELL
MGR. DISTRICT OPS
- Total calculated
- $289,641
- From this org
- $163,665
- From related orgs
- $0
- Other
- $125,976
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $163,665
- Bonus
- not reported
- Other
- not reported
- Deferred
- $101,858
- Nontaxable benefits
- $24,118
- Filer's total
- $289,641
-
Michael BatsonMICHAEL BATSON
Controller
- Total calculated
- $244,271
- From this org
- $148,127
- From related orgs
- $0
- Other
- $96,144
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $148,127
- Bonus
- not reported
- Other
- not reported
- Deferred
- $72,026
- Nontaxable benefits
- $24,118
- Filer's total
- $244,271
-
Brad TaylorBRAD TAYLOR
MANAGER FIN SVC
- Total calculated
- $239,709
- From this org
- $170,964
- From related orgs
- $0
- Other
- $68,745
- Hours/week
- 44
Schedule J breakdown matched by us
- Base
- $170,964
- Bonus
- not reported
- Other
- not reported
- Deferred
- $44,627
- Nontaxable benefits
- $24,118
- Filer's total
- $239,709
-
Jonathan FielderJONATHAN FIELDER
MGR OF ENGINEERING
- Total calculated
- $233,875
- From this org
- $163,738
- From related orgs
- $0
- Other
- $70,137
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $163,738
- Bonus
- not reported
- Other
- not reported
- Deferred
- $46,019
- Nontaxable benefits
- $24,118
- Filer's total
- $233,875
-
Shela K WilliamsSHELA K WILLIAMS
SEC/TREASURER
- Total calculated
- $24,800
- From this org
- $24,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 15
-
Edward OliverEDWARD OLIVER
Director
- Total calculated
- $22,150
- From this org
- $22,150
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Wesley H AymettWESLEY H AYMETT
Vice President
- Total calculated
- $22,100
- From this org
- $22,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 15
-
Tommy G WhittakerTOMMY G WHITTAKER
President
- Total calculated
- $22,050
- From this org
- $22,050
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Edgar Earl SwanEDGAR EARL SWAN
Director
- Total calculated
- $19,350
- From this org
- $19,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 15
-
Michael A MasonMICHAEL A MASON
Director
- Total calculated
- $18,550
- From this org
- $18,550
- From related orgs
- $0
- Other
- $0
- Hours/week
- 13
-
Bryan WatsonBRYAN WATSON
Director
- Total calculated
- $18,150
- From this org
- $18,150
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Charles D MorganCHARLES D MORGAN
Director
- Total calculated
- $17,600
- From this org
- $17,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Dr K Jean BeauchampDR K JEAN BEAUCHAMP
ASSIST SEC/TREA
- Total calculated
- $17,550
- From this org
- $17,550
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
-
Charlie R HancockCHARLIE R HANCOCK
Director
- Total calculated
- $16,800
- From this org
- $16,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
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 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
- 2022
- Filed
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343179349309309
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