Skip to content
Nonprofiteer
← CUMBERLAND ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by CUMBERLAND ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$364,091,551
Total expenses
$343,919,624
Contributions and grants received
$5,000,000
Grants paid
$0
Program service revenue
$348,932,755
Investment income
$4,101,757
Other revenue
$6,057,039
Total assets, end of year
$662,631,203
Total liabilities, end of year
$397,776,109
Net assets or fund balances, end of year
$264,855,094
Program services expenses (Part IX)
$340,163,165
Management and general expenses
$3,756,459
Fundraising expenses
$0
Program service expenses (Part III)
$340,163,165

Program services were 98.9% 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.

  • 1e · Government grants (contributions)

    $5,000,000

  • 2a · Program service revenue: ELECT AND TELECOM REVENUE

    total $348,932,755 · related or exempt $348,932,755

  • 3 · Investment income

    total $2,925,141 · related or exempt $2,925,141

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $4,300,000

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

    securities $3,123,384

  • 7c · Gain or loss

    securities $1,176,616

  • 7d · Net gain or loss

    total $1,176,616 · related or exempt $1,176,616

  • 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 $489,028 · unrelated business $489,028

  • 11b · Other revenue: POLE RENTAL INCOME

    total $5,568,011 · excluded $5,568,011

  • 11e · Other revenue, total

    $6,057,039

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 $944,390 · program services $944,390

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $29,212,978 · program services $29,212,978

  • 8 · Pension plan contributions

    total $6,943,273 · program services $6,943,273

  • 9 · Other employee benefits

    total $5,615,185 · program services $5,615,185

  • 10 · Payroll taxes

    total $2,216,262 · program services $2,216,262

  • 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 $3,174,994 · program services $3,174,994

  • 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 $9,166,722 · program services $9,166,722

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $24,199,151 · program services $24,199,151

  • 23 · Insurance

    total $0

  • 24a · Other expenses: COST OF POWER

    total $232,664,898 · program services $232,664,898

  • 24b · Other expenses: DISTRIBUTION EXP - MAINTENANCE

    total $9,272,915 · program services $9,272,915

  • 24c · Other expenses: DISTRIBUTION EXP - OPERATIONS

    total $9,169,086 · program services $9,169,086

  • 24d · Other expenses: ADMINISTRATIVE

    total $3,756,459 · management and general $3,756,459

  • 24e · All other expenses

    total $7,583,311 · program services $7,583,311

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $38,272 · end of year $760,156

  • 2 · Savings and temporary cash investments

    beginning of year $38,077,007 · end of year $36,134,730

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $39,151,496 · end of year $41,346,717

  • 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 $13,900,667 · end of year $11,457,132

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,589,320 · end of year $34,587,585

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

    $742,637,019

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

    $219,390,043

  • 10c · Land, buildings and equipment, net

    beginning of year $473,420,775 · end of year $523,246,976

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    beginning of year $2,299,990 · end of year $2,296,764

  • 13 · Investments: program-related

    end of year $236,223

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $10,560,194 · end of year $12,564,920

  • 17 · Accounts payable and accrued expenses

    beginning of year $32,302,302 · end of year $34,587,960

  • 19 · Deferred revenue

    beginning of year $1,239,670 · end of year $1,714,049

  • 23 · Secured mortgages and notes payable

    beginning of year $281,041,539 · end of year $336,727,883

  • 25 · Other liabilities

    beginning of year $22,534,609 · end of year $24,746,217

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,055,800 · end of year $1,078,670

  • 31 · Retained earnings, endowment or other funds

    beginning of year $243,863,801 · end of year $263,776,424

Mission and programs · 2023

Mission

ELECTRIC AND TELECOMMUNICATIONS COOPERATIVE

  • WE PROVIDE ELECTRIC SERVICE AND TELECOMMUNICATION SERVICES TO OUR MEMBERS IN THE MIDDLE TENNESSEE AREA. WE HAD 114,077 MEMBERS AT JUNE 30, 2024.

    Expenses $340,163,165 · Revenue $348,932,755

As filed on the 2023 return.

Listed in Part VII

  • Christopher Davis

    GENERAL MANAGER

    Total calculated
    $651,508
    From this org
    $339,461
    From related orgs
    $0
    Other
    $312,047
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $339,461
    Bonus
    not reported
    Other
    not reported
    Deferred
    $287,888
    Nontaxable benefits
    $24,159
    Filer's total
    $651,508

  • Annebelle Pittenger

    MGR, ADMIN DIV

    Total calculated
    $347,148
    From this org
    $206,814
    From related orgs
    $0
    Other
    $140,334
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $206,814
    Bonus
    not reported
    Other
    not reported
    Deferred
    $116,175
    Nontaxable benefits
    $24,159
    Filer's total
    $347,148

  • Mark Cook

    MANAGER, BROAD DIV

    Total calculated
    $327,356
    From this org
    $210,781
    From related orgs
    $0
    Other
    $116,575
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $210,781
    Bonus
    not reported
    Other
    not reported
    Deferred
    $87,654
    Nontaxable benefits
    $28,921
    Filer's total
    $327,356

  • William Abernathy

    MGR, OPER DIV

    Total calculated
    $316,718
    From this org
    $214,350
    From related orgs
    $0
    Other
    $102,368
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $214,350
    Bonus
    not reported
    Other
    not reported
    Deferred
    $78,209
    Nontaxable benefits
    $24,159
    Filer's total
    $316,718

  • Michael Blackwell

    MGR. DISTRICT OPS

    Total calculated
    $267,716
    From this org
    $172,414
    From related orgs
    $0
    Other
    $95,302
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,414
    Bonus
    not reported
    Other
    not reported
    Deferred
    $71,143
    Nontaxable benefits
    $24,159
    Filer's total
    $267,716

  • Brad Taylor

    MANAGER FIN SVC

    Total calculated
    $229,548
    From this org
    $178,936
    From related orgs
    $0
    Other
    $50,612
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $178,936
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,453
    Nontaxable benefits
    $24,159
    Filer's total
    $229,548

  • Jonathan Fielder

    MGR OF ENGINEERING

    Total calculated
    $227,758
    From this org
    $176,249
    From related orgs
    $0
    Other
    $51,509
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $176,249
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,350
    Nontaxable benefits
    $24,159
    Filer's total
    $227,758

  • Angela Adkins

    Controller

    Total calculated
    $183,971
    From this org
    $117,688
    From related orgs
    $0
    Other
    $66,283
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $117,688
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,124
    Nontaxable benefits
    $24,159
    Filer's total
    $183,971

  • Michael Batson

    Controller

    Total calculated
    $145,384
    From this org
    $93,400
    From related orgs
    $0
    Other
    $51,984
    Hours/week
    40

  • Shela K Williams

    SEC/TREASURER

    Total calculated
    $23,150
    From this org
    $23,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Wesley H Aymett

    Vice President

    Total calculated
    $22,050
    From this org
    $22,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Edgar Earl Swan

    Director

    Total calculated
    $21,350
    From this org
    $21,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Tommy G Whittaker

    President

    Total calculated
    $20,750
    From this org
    $20,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Edward Oliver

    Director

    Total calculated
    $19,750
    From this org
    $19,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Dr K Jean Beauchamp

    ASSIST SEC/TREA

    Total calculated
    $18,450
    From this org
    $18,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Bryan Watson

    Director

    Total calculated
    $17,650
    From this org
    $17,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Michael A Mason

    Director

    Total calculated
    $17,200
    From this org
    $17,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Charlie R Hancock

    Director

    Total calculated
    $13,550
    From this org
    $13,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Charles D Morgan

    Director

    Total calculated
    $12,850
    From this org
    $12,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Rodney Swearingen

    Director

    Total calculated
    $0
    Hours/week
    12

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
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443189349305114

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.