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Nonprofiteer
← PITT & GREENE ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by PITT & GREENE ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$25,474,640
Total expenses
$24,189,884
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$25,181,165
Investment income
$238,066
Other revenue
$55,409
Total assets, end of year
$66,011,743
Total liabilities, end of year
$32,269,989
Net assets or fund balances, end of year
$33,741,754
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALE OF ELECTRICITY

    total $24,599,690 · related or exempt $24,599,690

  • 2b · Program service revenue: PATRONAGE CAPITAL

    total $581,475 · related or exempt $581,475

  • 3 · Investment income

    total $225,832 · excluded $225,832

  • 6a · Gross rents

    real property $23,112

  • 6b · Less rental expenses

    real property $2,569

  • 6c · Rental income or loss

    real property $20,543

  • 6d · Net rental income or loss

    total $20,543 · unrelated business $20,543

  • 7a · Gross sales of assets other than inventory

    other assets $20,250

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

    other assets $8,016

  • 7c · Gain or loss

    other assets $12,234

  • 7d · Net gain or loss

    total $12,234 · excluded $12,234

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $34,866 · related or exempt $34,866

  • 11e · Other revenue, total

    $34,866

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,015,232

  • 9 · Other employee benefits

    total $2,218,844

  • 11b · Fees: legal

    total $39,307

  • 11c · Fees: accounting

    total $51,083

  • 12 · Advertising and promotion

    total $150,420

  • 16 · Occupancy

    total $1,101,311

  • 17 · Travel

    total $7,609

  • 19 · Conferences, conventions and meetings

    total $135,054

  • 20 · Interest

    total $913,569

  • 22 · Depreciation, depletion and amortization

    total $2,450,249

  • 23 · Insurance

    total $70,353

  • 24a · Other expenses: COST OF POWER

    total $14,026,818

  • 24b · Other expenses: TRANSMISSION AND DISTR

    total $698,471

  • 24c · Other expenses: CONSUMER ACCOUNT EXPENS

    total $302,733

  • 24d · Other expenses: CONTRIBUTIONS

    total $8,831

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,706,473 · end of year $753,355

  • 2 · Savings and temporary cash investments

    beginning of year $4,100,000 · end of year $3,000,000

  • 4 · Accounts receivable

    beginning of year $3,438,134 · end of year $3,801,175

  • 8 · Inventories for sale or use

    beginning of year $870,484 · end of year $587,726

  • 9 · Prepaid expenses and deferred charges

    beginning of year $263,038 · end of year $363,028

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

    $82,483,419

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

    $32,965,356

  • 10c · Land, buildings and equipment, net

    beginning of year $47,618,226 · end of year $49,518,063

  • 13 · Investments: program-related

    beginning of year $7,497,816 · end of year $7,988,396

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,110,044 · end of year $3,108,713

  • 23 · Secured mortgages and notes payable

    beginning of year $23,254,695 · end of year $22,694,936

  • 25 · Other liabilities

    beginning of year $5,566,589 · end of year $6,466,340

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $32,562,843 · end of year $33,741,754

Mission and programs · 2023

Mission

IT SHALL BE THE AIM OF PITT AND GREENE ELECTRIC MEMBERSHIP CORPORATION TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

  • ELECTRIC DISTRIBUTION CORPORATION SUPPLYING ELECTRIC POWER TO ITS MEMBERS AT LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

As filed on the 2023 return.

Listed in Part VII

  • William E Askew

    VICE PRESIDENT

    Total calculated
    $14,618
    From this org
    $14,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Kirby Bell

    DIRECTOR

    Total calculated
    $14,604
    From this org
    $14,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Jack Edmonson

    DIRECTOR

    Total calculated
    $14,612
    From this org
    $14,612
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.6

  • Richard S Harper

    DIRECTOR

    Total calculated
    $14,618
    From this org
    $14,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • Jeffery N Letchworth

    SECRETARY/TREASURER

    Total calculated
    $14,618
    From this org
    $14,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Garland Mozingo

    DIRECTOR

    Total calculated
    $14,618
    From this org
    $14,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • James Shackleford

    DIRECTOR

    Total calculated
    $16,061
    From this org
    $16,061
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • Ernest G Smith

    PRESIDENT

    Total calculated
    $14,618
    From this org
    $14,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Michael Hardy

    DIRECTOR

    Total calculated
    $14,618
    From this org
    $14,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.8

  • Mark A Sugg

    GENERAL MANAGER/EVP

    Total calculated
    $708,991
    From this org
    $624,109
    From related orgs
    $0
    Other
    $84,882
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $367,535
    Bonus
    $8,011
    Other
    $248,563
    Deferred
    $34,650
    Nontaxable benefits
    $50,232
    Filer's total
    $708,991

  • Anthony W Barrow

    DIRECTOR - ENGINEERING

    Total calculated
    $289,495
    From this org
    $240,690
    From related orgs
    $0
    Other
    $48,805
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $231,269
    Bonus
    $4,923
    Other
    $4,498
    Deferred
    $24,800
    Nontaxable benefits
    $24,005
    Filer's total
    $289,495

  • Patsy B Rowe

    DIRECTOR - FINANCE

    Total calculated
    $224,323
    From this org
    $178,946
    From related orgs
    $0
    Other
    $45,377
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,801
    Bonus
    $3,681
    Other
    $4,464
    Deferred
    $18,358
    Nontaxable benefits
    $27,019
    Filer's total
    $224,323

  • Austin Dixon

    CFO

    Total calculated
    $194,863
    From this org
    $143,560
    From related orgs
    $0
    Other
    $51,303
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,189
    Bonus
    $3,100
    Other
    $271
    Deferred
    $15,500
    Nontaxable benefits
    $35,803
    Filer's total
    $194,863

  • Milton M Grant

    DIRECTOR - OPERATIONS

    Total calculated
    $236,551
    From this org
    $177,069
    From related orgs
    $0
    Other
    $59,482
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,480
    Bonus
    $3,739
    Other
    $3,850
    Deferred
    $18,376
    Nontaxable benefits
    $41,106
    Filer's total
    $236,551

  • Tammy Murphy

    DIRECTOR OF HUMAN RESOURCE

    Total calculated
    $215,915
    From this org
    $164,314
    From related orgs
    $0
    Other
    $51,601
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,593
    Bonus
    $3,330
    Other
    $10,391
    Deferred
    $17,311
    Nontaxable benefits
    $34,290
    Filer's total
    $215,915

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

None.

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
15 May 2024
IRS schema version
2023v5.0
Source object
202431559349300633

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