Skip to content
Nonprofiteer
← AMICALOLA ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by AMICALOLA ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$119,484,944
Total expenses
$119,484,944
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$117,608,179
Investment income
$1,876,765
Other revenue
$0
Total assets, end of year
$257,147,770
Total liabilities, end of year
$174,764,377
Net assets or fund balances, end of year
$82,383,393
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 $113,296,799 · related or exempt $113,296,799

  • 2b · Program service revenue: POLE RENTAL

    total $2,868,098 · excluded $2,868,098

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $749,646 · related or exempt $749,646

  • 2d · Program service revenue: G & T CAPITAL CREDITS

    total $679,964 · related or exempt $679,964

  • 2e · Program service revenue: OTHER

    total $13,672 · related or exempt $13,672

  • 3 · Investment income

    total $1,876,765 · excluded $1,876,765

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,366,696

  • 5 · Compensation of officers, directors and key employees

    total $902,006

  • 20 · Interest

    total $5,332,771

  • 22 · Depreciation, depletion and amortization

    total $8,584,976

  • 24a · Other expenses: PURCHASED POWER

    total $72,770,827

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $16,008,636

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

    total $6,799,105

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $3,656,943

  • 24e · All other expenses

    total $4,062,984

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,061,521 · end of year $748,090

  • 4 · Accounts receivable

    beginning of year $5,845,830 · end of year $8,124,692

  • 8 · Inventories for sale or use

    beginning of year $8,731,385 · end of year $10,265,827

  • 9 · Prepaid expenses and deferred charges

    beginning of year $296,844 · end of year $541,387

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

    $294,868,944

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

    $99,970,935

  • 10c · Land, buildings and equipment, net

    beginning of year $184,217,184 · end of year $194,898,009

  • 13 · Investments: program-related

    beginning of year $13,361,862 · end of year $14,575,714

  • 15 · Other assets

    beginning of year $24,437,175 · end of year $27,994,051

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,832,454 · end of year $14,878,073

  • 23 · Secured mortgages and notes payable

    beginning of year $117,234,016 · end of year $134,354,111

  • 25 · Other liabilities

    beginning of year $26,629,673 · end of year $25,532,193

  • 29 · Capital stock, trust principal or current funds

    beginning of year $923,522 · end of year $943,772

  • 31 · Retained earnings, endowment or other funds

    beginning of year $80,332,136 · end of year $81,439,621

Mission and programs · 2024

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 SAFE AND RELIABLE ELECTRICITY TO THE MEMBERS WITHIN THE COUNTIES WE SERVE.

As filed on the 2024 return.

Listed in Part VII

  • Charles R Fendley

    CHAIRMAN

    Total calculated
    $29,100
    From this org
    $29,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.6

  • John H Bennett Jr

    VICE CHAIRMA

    Total calculated
    $24,650
    From this org
    $24,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.49

  • Randall Ponder

    SEC.-TREAS.

    Total calculated
    $28,800
    From this org
    $28,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Travis Cline

    DIRECTOR

    Total calculated
    $30,600
    From this org
    $30,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.86

  • Kathy Burt

    DIRECTOR

    Total calculated
    $27,300
    From this org
    $27,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.95

  • David J Pierce

    DIRECTOR

    Total calculated
    $30,900
    From this org
    $30,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.73

  • Reggie Stowers

    DIRECTOR

    Total calculated
    $29,700
    From this org
    $29,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.98

  • Edward Tucker

    DIRECTOR

    Total calculated
    $28,800
    From this org
    $28,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.85

  • Shelley Cantrell

    DIRECTOR

    Total calculated
    $27,900
    From this org
    $27,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.37

  • Todd Payne

    PRESIDENT &

    Total calculated
    $644,256
    From this org
    $490,308
    From related orgs
    $0
    Other
    $153,948
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $412,507
    Bonus
    $77,048
    Other
    $753
    Deferred
    $116,403
    Nontaxable benefits
    $37,545
    Filer's total
    $644,256

  • Penelope Marshall

    EVP & CFO

    Total calculated
    $293,760
    From this org
    $261,639
    From related orgs
    $0
    Other
    $32,121
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $218,349
    Bonus
    $42,537
    Other
    $753
    Deferred
    $220
    Nontaxable benefits
    $31,901
    Filer's total
    $293,760

  • Nathaniel West

    VP-OPERATION

    Total calculated
    $286,799
    From this org
    $192,620
    From related orgs
    $0
    Other
    $94,179
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $154,710
    Bonus
    $37,157
    Other
    $753
    Deferred
    $60,998
    Nontaxable benefits
    $33,181
    Filer's total
    $286,799

  • Kenneth Payne

    MGR. OF ENG

    Total calculated
    $201,260
    From this org
    $175,589
    From related orgs
    $0
    Other
    $25,671
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,129
    Bonus
    $32,707
    Other
    $753
    Deferred
    $150
    Nontaxable benefits
    $25,521
    Filer's total
    $201,260

  • Todd Satterfield

    MGR. DISTRIC

    Total calculated
    $185,927
    From this org
    $170,485
    From related orgs
    $0
    Other
    $15,442
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $142,025
    Bonus
    $27,707
    Other
    $753
    Deferred
    $143
    Nontaxable benefits
    $15,299
    Filer's total
    $185,927

  • Ronald McAllister

    CONST. CREW

    Total calculated
    $241,086
    From this org
    $188,572
    From related orgs
    $0
    Other
    $52,514
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $187,557
    Bonus
    $1,015
    Other
    not reported
    Deferred
    $22,106
    Nontaxable benefits
    $30,408
    Filer's total
    $241,086

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 · 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
THE CORPORATION HAS DEPOSITED FUNDS, REPRESENTING DEFERRED COMPENSATION, ON BEHALF OF QUALIFIED EMPLOYEES WHO HAVE ELECTED TO DEFER CERTAIN AMOUNTS OF COMPENSATION. THE CORPORATION IS SUBJECT TO ASSESSMENT FOR ANY AMOUNTS BY WHICH THE MARKET VALUATION OF THE FUNDS MIGHT FALL SHORT OF CONTRACTED AND GUARANTEED AMOUNTS DUE THE EMPLOYEES. THE ANNUAL DEFERRAL OF THE COMPENSATION PLAN IS CALCULATED IN ACCORDANCE WITH IRC SECTION 457, SUBJECT TO CHANGES UNDER IRC SECTION 457(B).

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.

Provenance

Return type
form_990
Tax year
2024
Filed
21 October 2025
IRS schema version
2024v5.0
Source object
202542979349301919

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.