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Nonprofiteer
← TIDELAND ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by TIDELAND ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$52,378,506
Total expenses
$51,949,525
Contributions and grants received
$0
Grants paid
$16,107
Program service revenue
$52,056,531
Investment income
$162,426
Other revenue
$159,549
Total assets, end of year
$158,206,802
Total liabilities, end of year
$95,662,586
Net assets or fund balances, end of year
$62,544,216
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: SALE OF ELECTRICITY

    total $50,686,956 · related or exempt $50,686,956

  • 2b · Program service revenue: CONTRIBUTIONS IN AID

    total $1,185,140 · related or exempt $1,185,140

  • 2c · Program service revenue: CAPITAL CREDITS RECEIVED

    total $184,435 · related or exempt $184,435

  • 3 · Investment income

    total $162,426 · excluded $162,426

  • 6a · Gross rents

    real property $27,000 · personal property $132,549

  • 6c · Rental income or loss

    real property $27,000 · personal property $132,549

  • 6d · Net rental income or loss

    total $159,549 · related or exempt $27,000 · excluded $132,549

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,107

  • 4 · Benefits paid to or for members

    total $2,808,285

  • 5 · Compensation of officers, directors and key employees

    total $696,515

  • 7 · Other salaries and wages

    total $4,947,644

  • 8 · Pension plan contributions

    total $1,091,870

  • 9 · Other employee benefits

    total $173,902

  • 10 · Payroll taxes

    total $430,950

  • 11b · Fees: legal

    total $35,670

  • 17 · Travel

    total $1,449,946

  • 19 · Conferences, conventions and meetings

    total $95,322

  • 20 · Interest

    total $2,163,763

  • 22 · Depreciation, depletion and amortization

    total $5,176,206

  • 24a · Other expenses: COST OF POWER

    total $28,432,588

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $3,286,125

  • 24c · Other expenses: ADMIN AND GENERAL

    total $2,039,467

  • 24d · Other expenses: DISTRIBUTION OPERATION

    total $1,791,861

  • 24e · All other expenses

    total -$2,686,696

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,866,814 · end of year $1,909,431

  • 2 · Savings and temporary cash investments

    beginning of year $4,551,468 · end of year $1,680,805

  • 4 · Accounts receivable

    beginning of year $5,229,155 · end of year $5,516,373

  • 7 · Other notes and loans receivable

    beginning of year $2,623,890 · end of year $2,261,283

  • 8 · Inventories for sale or use

    beginning of year $2,886,791 · end of year $3,558,514

  • 9 · Prepaid expenses and deferred charges

    beginning of year $215,197 · end of year $493,664

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

    $167,586,116

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

    $38,871,973

  • 10c · Land, buildings and equipment, net

    beginning of year $127,753,226 · end of year $128,714,143

  • 11 · Investments: publicly traded securities

    beginning of year $767,629

  • 13 · Investments: program-related

    beginning of year $12,431,496 · end of year $13,348,070

  • 15 · Other assets

    beginning of year $738,050 · end of year $724,519

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,216,822 · end of year $3,082,410

  • 23 · Secured mortgages and notes payable

    beginning of year $81,265,273 · end of year $79,509,450

  • 25 · Other liabilities

    beginning of year $14,942,709 · end of year $13,070,726

  • 31 · Retained earnings, endowment or other funds

    beginning of year $59,638,912 · end of year $62,544,216

Mission and programs · 2023

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF TEMC

  • SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS OF TEMC. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES ARE AS FOLLOWS: COST OF POWER 28,432,588 DEPRECIATION 5,176,206 OTHER SALARIES AND WAGES 4,947,644

As filed on the 2023 return.

Listed in Part VII

  • Paul G Spruill

    CEO

    Total calculated
    $319,469
    From this org
    $253,622
    From related orgs
    $0
    Other
    $65,847
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,340
    Bonus
    $282
    Other
    not reported
    Deferred
    $52,720
    Nontaxable benefits
    $13,127
    Filer's total
    $319,469

  • Jim Chrisman

    CFO

    Total calculated
    $230,146
    From this org
    $185,609
    From related orgs
    $0
    Other
    $44,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,163
    Bonus
    $246
    Other
    $7,200
    Deferred
    $31,410
    Nontaxable benefits
    $13,127
    Filer's total
    $230,146

  • Steven Harris

    LINE SUPERIN

    Total calculated
    $192,836
    From this org
    $133,290
    From related orgs
    $0
    Other
    $59,546
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,996
    Bonus
    $294
    Other
    not reported
    Deferred
    $46,419
    Nontaxable benefits
    $13,127
    Filer's total
    $192,836

  • Myra Beasley

    HR/RISK MGMT

    Total calculated
    $183,634
    From this org
    $133,056
    From related orgs
    $0
    Other
    $50,578
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,498
    Bonus
    $558
    Other
    not reported
    Deferred
    $37,451
    Nontaxable benefits
    $13,127
    Filer's total
    $183,634

  • Michael Marslender

    LINE SUPERIN

    Total calculated
    $174,570
    From this org
    $117,722
    From related orgs
    $0
    Other
    $56,848
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,236
    Bonus
    $486
    Other
    not reported
    Deferred
    $43,721
    Nontaxable benefits
    $13,127
    Filer's total
    $174,570

  • Karen Heffley

    CONTROLLER

    Total calculated
    $172,381
    From this org
    $104,963
    From related orgs
    $0
    Other
    $67,418
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $104,597
    Bonus
    $366
    Other
    not reported
    Deferred
    $54,291
    Nontaxable benefits
    $13,127
    Filer's total
    $172,381

  • Heidi Smith

    MGR. ENERGY

    Total calculated
    $168,268
    From this org
    $107,530
    From related orgs
    $0
    Other
    $60,738
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,020
    Bonus
    $510
    Other
    not reported
    Deferred
    $47,611
    Nontaxable benefits
    $13,127
    Filer's total
    $168,268

  • Charles Slade

    DIRECTOR

    Total calculated
    $18,100
    From this org
    $18,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Wayne Sawyer

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • J Douglas Brinson

    PRESIDENT

    Total calculated
    $16,300
    From this org
    $16,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    17

  • David Ipock

    TREASURER

    Total calculated
    $14,900
    From this org
    $14,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Mark Carawan

    SECRETARY

    Total calculated
    $14,300
    From this org
    $14,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Garry Jordan

    DIRECTOR

    Total calculated
    $13,900
    From this org
    $13,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Clifton Paul

    VICE PRESIDE

    Total calculated
    $13,600
    From this org
    $13,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Rudy Austin

    DIRECTOR

    Total calculated
    $13,400
    From this org
    $13,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Paul Sasnett

    DIRECTOR

    Total calculated
    $12,700
    From this org
    $12,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dawson Pugh

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study

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

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
30 July 2024
IRS schema version
2023v5.0
Source object
202432149349300708

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