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Nonprofiteer
← GRADY ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by GRADY ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$50,788,359
Total expenses
$50,046,006
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$49,017,865
Investment income
$1,706,618
Other revenue
$63,876
Total assets, end of year
$160,966,900
Total liabilities, end of year
$78,721,730
Net assets or fund balances, end of year
$82,245,170
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$50,046,006

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 $45,450,405 · related or exempt $45,450,405

  • 2b · Program service revenue: CAPITAL CREDIT ALLOCATIONS

    total $1,749,913 · related or exempt $1,749,913

  • 2c · Program service revenue: SER, LLC

    total $1,448,860 · related or exempt $1,448,860

  • 2d · Program service revenue: POLE & TOWER RENT

    total $368,687 · related or exempt $368,687

  • 3 · Investment income

    total $1,626,734 · related or exempt $1,500,000 · excluded $126,734

  • 7a · Gross sales of assets other than inventory

    other assets $138,300

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

    other assets $58,416

  • 7c · Gain or loss

    other assets $79,884

  • 7d · Net gain or loss

    total $79,884 · related or exempt $79,884

  • 11a · Other revenue: OTHER NON-OPERATING INCOME

    total $63,876 · related or exempt $63,876

  • 11e · Other revenue, total

    $63,876

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $8,804,459

  • 5 · Compensation of officers, directors and key employees

    total $791,638

  • 20 · Interest

    total $2,655,425

  • 22 · Depreciation, depletion and amortization

    total $3,852,229

  • 24a · Other expenses: COST OF POWER

    total $23,939,324

  • 24b · Other expenses: DISTRIBUTION MAINTENANC

    total $3,827,626

  • 24c · Other expenses: GENERAL AND ADMINISTRAT

    total $2,321,768

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $1,997,734

  • 24e · All other expenses

    total $1,855,803

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,128,311 · end of year $6,618,289

  • 4 · Accounts receivable

    beginning of year $4,665,180 · end of year $4,868,391

  • 8 · Inventories for sale or use

    beginning of year $1,431,712 · end of year $5,405,272

  • 9 · Prepaid expenses and deferred charges

    beginning of year $280,614 · end of year $305,521

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

    $139,477,702

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

    $30,609,085

  • 10c · Land, buildings and equipment, net

    beginning of year $96,662,265 · end of year $108,868,617

  • 13 · Investments: program-related

    beginning of year $31,694,867 · end of year $33,283,534

  • 15 · Other assets

    beginning of year $1,618,206 · end of year $1,617,276

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,108,561 · end of year $9,674,919

  • 23 · Secured mortgages and notes payable

    beginning of year $53,475,936 · end of year $61,728,792

  • 25 · Other liabilities

    beginning of year $7,842,407 · end of year $7,318,019

  • 29 · Capital stock, trust principal or current funds

    beginning of year $69,345 · end of year $68,910

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $72,984,906 · end of year $82,176,260

Mission and programs · 2023

Mission

PROVIDE MEMBERS WITH ELECTRICITY.

Activities or mission (Part I)

SALE OF ELECTRICITY TO COOPERATIVE MEMBERS.

  • SALE OF ELECTRICITY TO COOPERATIVE MEMBERS. THE COOPERATIVE SERVES APPROXIMATELY 13,600 MEMBERS.

    Expenses $50,046,006

As filed on the 2023 return.

Listed in Part VII

  • Gregory Brouillet

    SECRETARY/TREASURER

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Eric Cohen

    CHAIRMAN

    Total calculated
    $18,172
    From this org
    $18,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • James Hammett

    DIRECTOR

    Total calculated
    $13,656
    From this org
    $13,656
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Terry Hurst

    VICE CHAIRMAN

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Blake Stanaland

    DIRECTOR

    Total calculated
    $16,172
    From this org
    $16,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Lee Powell

    DIRECTOR

    Total calculated
    $21,172
    From this org
    $21,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Samuel Perkins

    DIRECTOR

    Total calculated
    $18,672
    From this org
    $18,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John Long

    CEO

    Total calculated
    $347,789
    From this org
    $254,456
    From related orgs
    $0
    Other
    $93,333
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,456
    Bonus
    $15,000
    Other
    $0
    Deferred
    $81,255
    Nontaxable benefits
    $12,078
    Filer's total
    $347,789

  • R Kyle Henderson

    COO

    Total calculated
    $192,207
    From this org
    $144,964
    From related orgs
    $0
    Other
    $47,243
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,964
    Bonus
    $0
    Other
    $0
    Deferred
    $35,811
    Nontaxable benefits
    $11,432
    Filer's total
    $192,207

  • Joel Clay Ulmer

    CFO

    Total calculated
    $147,798
    From this org
    $126,055
    From related orgs
    $0
    Other
    $21,743
    Hours/week
    40

  • H Scott Taliaferro

    LINE CREW FOREMAN

    Total calculated
    $153,459
    From this org
    $112,604
    From related orgs
    $0
    Other
    $40,855
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,604
    Bonus
    $0
    Other
    $0
    Deferred
    $29,718
    Nontaxable benefits
    $11,137
    Filer's total
    $153,459

  • John Mark Bryant

    LINE CREW LEADER

    Total calculated
    $141,478
    From this org
    $115,391
    From related orgs
    $0
    Other
    $26,087
    Hours/week
    40

  • Joe Keith Harrell

    ENGINEERING MANAGER

    Total calculated
    $175,190
    From this org
    $120,382
    From related orgs
    $0
    Other
    $54,808
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,382
    Bonus
    $0
    Other
    $0
    Deferred
    $43,704
    Nontaxable benefits
    $11,104
    Filer's total
    $175,190

  • Russell Barry Bishop

    CONSTRUCTION MANAGER

    Total calculated
    $153,655
    From this org
    $114,158
    From related orgs
    $0
    Other
    $39,497
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,158
    Bonus
    $0
    Other
    $0
    Deferred
    $28,424
    Nontaxable benefits
    $11,073
    Filer's total
    $153,655

  • Gary Poppell

    LINE CREW FOREMAN

    Total calculated
    $157,604
    From this org
    $111,681
    From related orgs
    $0
    Other
    $45,923
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,681
    Bonus
    $0
    Other
    $0
    Deferred
    $35,030
    Nontaxable benefits
    $10,893
    Filer's total
    $157,604

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SUGAR CANE PROPERTIES LLC

    REAL ESTATE · GA · income $8,203 · assets $1,645,229

    Directly controlled by GRADY ELECTRIC MEMBERSHIP CORPORATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SOWEGA ENERGY RESOURCES LLC

    RELATED · ELECTRIC POWER GENERATION · GA · 7.5% owned · share of income $737,681 · share of assets $166,830

Related corporations and trusts

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

  • GRADY EMC HOLDING CORPORATION

    C · ELECTRIC POWER GENERATION · GA · 100% owned · share of income $1,654,239 · share of assets $3,761,487

Provenance

Return type
form_990
Tax year
2023
Filed
11 March 2025
IRS schema version
2023v6.0
Source object
202520719349300312

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