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← ENERGYUNITED ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by ENERGYUNITED ELECTRIC MEMBERSHIP CORPORATION.

What the amendment changed

Compared with the return it replaced , filed 31 March 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$283,002,756
Total expenses
$276,535,034
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$280,057,051
Investment income
$1,026,040
Other revenue
$1,919,665
Total assets, end of year
$589,019,102
Total liabilities, end of year
$285,891,659
Net assets or fund balances, end of year
$303,127,443
Program services expenses (Part IX)
$276,535,034
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$276,535,034

Program services were 100.0% 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-MEMBERS

    total $274,486,955 · related or exempt $274,486,955

  • 2b · Program service revenue: FEES AND SERVICE CHARGE

    total $4,358,461 · related or exempt $4,358,461

  • 2c · Program service revenue: ELECTRIC SALES-NON MEMB

    total $1,211,635 · related or exempt $1,211,635

  • 3 · Investment income

    total $1,026,040 · related or exempt $1,026,040

  • 11a · Other revenue: INCOME FROM SUBSIDIARY

  • 11b · Other revenue: PATRONAGE ALLOCATIONS

    total $1,735,002 · related or exempt $1,735,002

  • 11c · Other revenue: OTHER

    total $184,663 · related or exempt $184,663

  • 11e · Other revenue, total

    $1,919,665

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,679,503 · program services $3,679,503

  • 7 · Other salaries and wages

    total $14,311,687 · program services $14,311,687

  • 9 · Other employee benefits

    total $6,516,163 · program services $6,516,163

  • 10 · Payroll taxes

    total $1,209,129 · program services $1,209,129

  • 11a · Fees: management

    total $1,566,826 · program services $1,566,826

  • 11b · Fees: legal

    total $181,686 · program services $181,686

  • 11c · Fees: accounting

    total $27,000 · program services $27,000

  • 11g · Fees: other

    total $9,996,473 · program services $9,996,473

  • 12 · Advertising and promotion

    total $315,016 · program services $315,016

  • 13 · Office expenses

    total $1,811,567 · program services $1,811,567

  • 14 · Information technology

    total $1,397,909 · program services $1,397,909

  • 16 · Occupancy

    total $182,742 · program services $182,742

  • 17 · Travel

    total $2,343,227 · program services $2,343,227

  • 19 · Conferences, conventions and meetings

    total $258,221 · program services $258,221

  • 20 · Interest

    total $6,366,483 · program services $6,366,483

  • 22 · Depreciation, depletion and amortization

    total $24,259,832 · program services $24,259,832

  • 23 · Insurance

    total $821,045 · program services $821,045

  • 24a · Other expenses: COST OF POWER

    total $194,155,902 · program services $194,155,902

  • 24b · Other expenses: PROPERTYGROSS REC TAX

    total $2,325,014 · program services $2,325,014

  • 24c · Other expenses: OTHER

    total $1,496,960 · program services $1,496,960

  • 24d · Other expenses: MAINT AND EXP

    total $2,276,679 · program services $2,276,679

  • 24e · All other expenses

    total $1,035,970 · program services $1,035,970

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,463,388 · end of year $10,761,354

  • 4 · Accounts receivable

    beginning of year $23,306,678 · end of year $28,591,517

  • 7 · Other notes and loans receivable

    beginning of year $4,395,920 · end of year $2,829,724

  • 8 · Inventories for sale or use

    beginning of year $8,214,692 · end of year $11,284,145

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

    $702,070,276

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

    $265,964,510

  • 10c · Land, buildings and equipment, net

    beginning of year $417,470,237 · end of year $436,105,766

  • 12 · Investments: other securities

    beginning of year $29,926,287 · end of year $30,556,394

  • 14 · Intangible assets

    beginning of year $26,119,581 · end of year $68,890,202

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,171,591 · end of year $32,477,274

  • 23 · Secured mortgages and notes payable

    beginning of year $184,033,549 · end of year $220,503,242

  • 25 · Other liabilities

    beginning of year $54,966,211 · end of year $32,911,143

  • 31 · Retained earnings, endowment or other funds

    beginning of year $250,725,432 · end of year $303,127,443

Mission and programs · 2022

Mission

PROVIDE ELECTRICAL SERVICE TO MEMBERS

  • PROVIDE ELECTRICAL SERVICE TO MEMBERS

    Expenses $276,535,034

As filed on the 2022 return.

Listed in Part VII

  • Howard W Wilkins

    CEO

    Total calculated
    $555,557
    From this org
    $519,495
    From related orgs
    $0
    Other
    $36,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $367,296
    Bonus
    $50,396
    Other
    $101,803
    Deferred
    $19,234
    Nontaxable benefits
    $16,828
    Filer's total
    $555,557

  • Thomas Golden

    CEO

    Total calculated
    $439,575
    From this org
    $401,172
    From related orgs
    $0
    Other
    $38,403
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $354,404
    Bonus
    $30,365
    Other
    $16,403
    Deferred
    $32,902
    Nontaxable benefits
    $5,501
    Filer's total
    $439,575

  • Alec Natt

    CFO

    Total calculated
    $371,049
    From this org
    $321,438
    From related orgs
    $0
    Other
    $49,611
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,672
    Bonus
    $28,177
    Other
    $12,589
    Deferred
    $28,005
    Nontaxable benefits
    $21,606
    Filer's total
    $371,049

  • Steve McCachern

    VP ENERGY DELIVERY

    Total calculated
    $360,207
    From this org
    $323,401
    From related orgs
    $0
    Other
    $36,806
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,885
    Bonus
    $19,472
    Other
    $68,044
    Deferred
    $9,306
    Nontaxable benefits
    $27,500
    Filer's total
    $360,207

  • Pamela Britt

    VP HUMAN RESOURCES

    Total calculated
    $340,537
    From this org
    $289,171
    From related orgs
    $0
    Other
    $51,366
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,313
    Bonus
    $24,580
    Other
    $13,278
    Deferred
    $25,081
    Nontaxable benefits
    $26,285
    Filer's total
    $340,537

  • Gaudy Jandron

    VP INFORMATION TECHNOLOGY

    Total calculated
    $314,443
    From this org
    $262,954
    From related orgs
    $0
    Other
    $51,489
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,796
    Bonus
    $18,595
    Other
    $1,563
    Deferred
    $24,280
    Nontaxable benefits
    $27,209
    Filer's total
    $314,443

  • Matt Sharpe

    DIRECTOR OF OPERATIONS

    Total calculated
    $307,741
    From this org
    $200,615
    From related orgs
    $0
    Other
    $107,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,448
    Bonus
    $10,245
    Other
    $35,922
    Deferred
    $82,710
    Nontaxable benefits
    $24,416
    Filer's total
    $307,741

  • Brett Alkins

    COO

    Total calculated
    $294,281
    From this org
    $246,703
    From related orgs
    $0
    Other
    $47,578
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,914
    Bonus
    $19,813
    Other
    $5,976
    Deferred
    $22,029
    Nontaxable benefits
    $25,549
    Filer's total
    $294,281

  • William Reed

    LINEMAN

    Total calculated
    $262,803
    From this org
    $189,246
    From related orgs
    $0
    Other
    $73,557
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,056
    Bonus
    $6,958
    Other
    $26,232
    Deferred
    $58,396
    Nontaxable benefits
    $15,161
    Filer's total
    $262,803

  • Edward Liles

    LINEMAN

    Total calculated
    $218,264
    From this org
    $197,662
    From related orgs
    $0
    Other
    $20,602
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,919
    Bonus
    $6,015
    Other
    $24,728
    Deferred
    $4,030
    Nontaxable benefits
    $16,572
    Filer's total
    $218,264

  • Brian Koontz

    LINEMAN

    Total calculated
    $213,577
    From this org
    $192,271
    From related orgs
    $0
    Other
    $21,306
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,337
    Bonus
    $6,285
    Other
    $24,649
    Deferred
    $4,162
    Nontaxable benefits
    $17,144
    Filer's total
    $213,577

  • James Brown

    MANAGER

    Total calculated
    $207,016
    From this org
    $192,502
    From related orgs
    $0
    Other
    $14,514
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,057
    Bonus
    $8,284
    Other
    $60,161
    Deferred
    $4,030
    Nontaxable benefits
    $10,484
    Filer's total
    $207,016

  • Jeannette Overby

    DIRECTOR

    Total calculated
    $70,541
    From this org
    $70,541
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $70,541
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $70,541

  • W Max Walser

    PRESIDENT

    Total calculated
    $52,028
    From this org
    $34,028
    From related orgs
    $0
    Other
    $18,000
    Hours/week
    8

  • C Edgar Cartner

    DIRECTOR

    Total calculated
    $32,431
    From this org
    $17,048
    From related orgs
    $0
    Other
    $15,383
    Hours/week
    7

  • Cheryl Wright

    DIRECTOR

    Total calculated
    $31,986
    From this org
    $29,446
    From related orgs
    $0
    Other
    $2,540
    Hours/week
    5

  • Jerry W Anderson

    DIRECTOR

    Total calculated
    $30,087
    From this org
    $30,087
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ronnie S Harrison

    SECRETARY

    Total calculated
    $27,123
    From this org
    $8,753
    From related orgs
    $0
    Other
    $18,370
    Hours/week
    4

  • Brian Sisson

    VICE PRESIDENT

    Total calculated
    $26,586
    From this org
    $19,386
    From related orgs
    $0
    Other
    $7,200
    Hours/week
    5

  • Craig Black

    TREASURER

    Total calculated
    $25,986
    From this org
    $25,986
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ann M Eller

    DIRECTOR

    Total calculated
    $18,487
    From this org
    $18,487
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Zolee Riggs

    DIRECTOR

    Total calculated
    $11,756
    From this org
    $11,756
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

None.

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.

  • NATIONAL RURAL UTILITIES COOPE

    501C4 · BANKING · VA

  • NC ELECTRIC MEMBERSHIP CORPORA

    501C12 · WHOLESALE ENERGY · NC

  • TARHEEL ELECTRIC MEMBERSHIP CO

    501C12 · WAREHOUSING · NC

  • COBANK

    501C12 · BANKING · CO

  • FEDERAL RURAL ELECTRIC INSURAN

    501C12 · INSURANCE · KS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ENERGYUNITED SERVICES CORPORAT

    C Corp · ENERGY SERVICES · NC · 100% owned

Provenance

Return type
form_990
Tax year
2022
Filed
31 March 2023
IRS schema version
2022v5.0
Source object
202531269349300203

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