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← ELECTRIC MEMBERSHIP CORP BALDWIN COUNTY ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by ELECTRIC MEMBERSHIP CORP BALDWIN COUNTY ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$203,404,619
Total expenses
$199,754,073
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$200,577,781
Investment income
$199,016
Other revenue
$2,627,822
Total assets, end of year
$376,877,285
Total liabilities, end of year
$212,195,136
Net assets or fund balances, end of year
$164,682,149
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 SALES

    total $199,786,220 · excluded $199,786,220

  • 2b · Program service revenue: POLE ATTACHMENTS

    total $791,561 · excluded $791,561

  • 3 · Investment income

    total $199,016 · excluded $199,016

  • 11a · Other revenue: CAPITAL CREDITS

    total $2,986,606 · excluded $2,986,606

  • 11b · Other revenue: OTHER NON OPERATING INCOME

    total -$358,784 · excluded -$358,784

  • 11e · Other revenue, total

    $2,627,822

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,051,550

  • 5 · Compensation of officers, directors and key employees

    total $1,500,518

  • 7 · Other salaries and wages

    total $1,046,221

  • 20 · Interest

    total $5,170,951

  • 22 · Depreciation, depletion and amortization

    total $14,142,005

  • 24a · Other expenses: COST OF POWER

    total $133,009,841

  • 24b · Other expenses: DISTRIBUTION- MAINTENANCE

    total $15,493,186

  • 24c · Other expenses: ADMINISTRATIVE & GENERAL

    total $7,468,365

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $7,005,588

  • 24e · All other expenses

    total $10,865,848

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,536,088 · end of year $4,289,445

  • 4 · Accounts receivable

    beginning of year $32,899,306 · end of year $30,207,381

  • 8 · Inventories for sale or use

    beginning of year $10,819,893 · end of year $10,302,785

  • 9 · Prepaid expenses and deferred charges

    beginning of year $848,264 · end of year $169,492

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

    $385,451,320

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

    $130,461,477

  • 10c · Land, buildings and equipment, net

    beginning of year $236,599,675 · end of year $254,989,843

  • 13 · Investments: program-related

    beginning of year $74,078,347 · end of year $76,757,502

  • 15 · Other assets

    beginning of year $313,057 · end of year $160,837

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,085,867 · end of year $32,912,941

  • 23 · Secured mortgages and notes payable

    beginning of year $143,948,449 · end of year $153,491,337

  • 25 · Other liabilities

    beginning of year $20,019,316 · end of year $25,790,858

  • 29 · Capital stock, trust principal or current funds

    beginning of year $339,475 · end of year $349,805

  • 31 · Retained earnings, endowment or other funds

    beginning of year $159,701,523 · end of year $164,332,344

Mission and programs · 2023

Mission

RURAL ELECTRIC COOPERATIVE SERVING BALDWIN AND MONROE COUNTIES IN ALABAMA.

  • PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 87,323 CUSTOMERS IN THE RURAL AREAS OF BALDWIN AND MONROE COUNTIES IN ALABAMA.

  • PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 87,323 CUSTOMERS IN THE RURAL AREAS OF BALDWIN AND MONROE COUNTIES IN ALABAMA.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Karen L Moore

    CEO

    Total calculated
    $726,449
    From this org
    $606,126
    From related orgs
    $0
    Other
    $120,323
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $461,990
    Bonus
    $16,359
    Other
    $127,777
    Deferred
    $95,589
    Nontaxable benefits
    $24,734
    Filer's total
    $726,449

  • Alan L Schott

    VP FIN/ACC

    Total calculated
    $418,916
    From this org
    $316,158
    From related orgs
    $0
    Other
    $102,758
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $291,774
    Bonus
    $6,359
    Other
    $18,025
    Deferred
    $78,055
    Nontaxable benefits
    $24,703
    Filer's total
    $418,916

  • Steven Kent Irvin

    VP ENGINEERI

    Total calculated
    $375,138
    From this org
    $276,471
    From related orgs
    $0
    Other
    $98,667
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,568
    Bonus
    $6,353
    Other
    $19,550
    Deferred
    $73,964
    Nontaxable benefits
    $24,703
    Filer's total
    $375,138

  • Mark Ingram

    VP CORP. SER

    Total calculated
    $335,618
    From this org
    $244,895
    From related orgs
    $0
    Other
    $90,723
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $228,020
    Bonus
    $5,830
    Other
    $11,045
    Deferred
    $65,987
    Nontaxable benefits
    $24,736
    Filer's total
    $335,618

  • William Jody Taylor

    VP OPERATION

    Total calculated
    $320,772
    From this org
    $231,038
    From related orgs
    $0
    Other
    $89,734
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $215,572
    Bonus
    $2,145
    Other
    $13,321
    Deferred
    $65,031
    Nontaxable benefits
    $24,703
    Filer's total
    $320,772

  • W Brian Seals

    MANAGER ENGI

    Total calculated
    $269,799
    From this org
    $196,641
    From related orgs
    $0
    Other
    $73,158
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $169,809
    Bonus
    $10,968
    Other
    $15,864
    Deferred
    $48,795
    Nontaxable benefits
    $24,363
    Filer's total
    $269,799

  • Deborah Ellison

    MEMBER SERVI

    Total calculated
    $237,733
    From this org
    $168,443
    From related orgs
    $0
    Other
    $69,290
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $151,131
    Bonus
    $4,171
    Other
    $13,141
    Deferred
    $45,010
    Nontaxable benefits
    $24,280
    Filer's total
    $237,733

  • Greg Gipson

    MANAGER BUS,

    Total calculated
    $229,331
    From this org
    $160,041
    From related orgs
    $0
    Other
    $69,290
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $151,178
    Bonus
    $8,127
    Other
    $736
    Deferred
    $45,010
    Nontaxable benefits
    $24,280
    Filer's total
    $229,331

  • Peggy Vanover-Barnes

    PRESIDENT

    Total calculated
    $92,421
    From this org
    $69,370
    From related orgs
    $0
    Other
    $23,051
    Hours/week
    29.63

  • Chad Grace

    DIRECTOR

    Total calculated
    $84,587
    From this org
    $61,512
    From related orgs
    $0
    Other
    $23,075
    Hours/week
    10.91

  • Aubury L Fuller

    DIRECTOR

    Total calculated
    $69,148
    From this org
    $46,160
    From related orgs
    $0
    Other
    $22,988
    Hours/week
    9.38

  • Robert Kaiser

    DIRECTOR

    Total calculated
    $64,788
    From this org
    $41,928
    From related orgs
    $0
    Other
    $22,860
    Hours/week
    12.98

  • Joseph Coleman

    SECRETARY/TR

    Total calculated
    $61,535
    From this org
    $38,484
    From related orgs
    $0
    Other
    $23,051
    Hours/week
    11.23

  • Tommie Werneth

    VICE-PRESIDE

    Total calculated
    $57,202
    From this org
    $34,182
    From related orgs
    $0
    Other
    $23,020
    Hours/week
    12.04

  • Carolyn Doughty

    DIRECTOR

    Total calculated
    $55,566
    From this org
    $55,561
    From related orgs
    $0
    Other
    $5
    Hours/week
    16.3

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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART III
PENSION CONTRIBUTIONS MADE ON BEHALF OF CERTAIN EMPLOYEES ARE CAPPED IN ACCORDANCE WITH IRS REGULATIONS. MS. MOORE RECEIVED A PAYMENT THAT IS INCLUDED IN OTHER COMPENSATION THAT IS INTENDED TO COMPENSATE HER FOR THIS REDUCTION IN HER PENSION CONTRIBUTION MADE BY THE COOPERATIVE. THIS PAYMENT FOR LOST BENEFITS HAS BEEN REFLECTED ON MS. MOORE'S IRS FORM W2 AS TAXABLE WAGES.

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
2023
Filed
18 April 2024
IRS schema version
2023v5.0
Source object
202411159349300421

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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