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Nonprofiteer
← OCMULGEE ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by OCMULGEE ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$26,583,784
Total expenses
$27,770,609
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$26,495,579
Investment income
$88,205
Other revenue
$0
Total assets, end of year
$64,658,462
Total liabilities, end of year
$21,937,299
Net assets or fund balances, end of year
$42,721,163
Program services expenses (Part IX)
$27,770,609
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$27,770,609

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: RESIDENTIAL SALES

    total $18,032,274 · related or exempt $18,032,274

  • 2b · Program service revenue: COMMERCL & INDUSTL SALES - SM

    total $4,183,003 · related or exempt $4,183,003

  • 2c · Program service revenue: IRRIGATION SALES

    total $1,951,678 · related or exempt $1,951,678

  • 2d · Program service revenue: COMMERCL & INDUSTL SALES - LA

    total $1,365,167 · related or exempt $1,365,167

  • 2e · Program service revenue: OTHER ELECTRIC REVENUE

    total $442,058 · related or exempt $442,058

  • 2f · All other program service revenue

    total $521,399 · related or exempt $521,399

  • 3 · Investment income

    total $88,205 · related or exempt $88,205

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $530,517 · program services $530,517

  • 5 · Compensation of officers, directors and key employees

    total $283,832 · program services $283,832

  • 20 · Interest

    total $253,078 · program services $253,078

  • 22 · Depreciation, depletion and amortization

    total $1,651,204 · program services $1,651,204

  • 24a · Other expenses: PURCHASED POWER

    total $17,791,003 · program services $17,791,003

  • 24b · Other expenses: OVERHEAD LINE EXPENSE

    total $1,854,803 · program services $1,854,803

  • 24c · Other expenses: MAINT OF O/HD CONTRACT -

    total $1,118,083 · program services $1,118,083

  • 24d · Other expenses: ADMINSTRATIVE & GENERAL S

    total $717,062 · program services $717,062

  • 24e · All other expenses

    total $3,571,027 · program services $3,571,027

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $159,354 · end of year $2,294,318

  • 2 · Savings and temporary cash investments

    beginning of year $7,054,000 · end of year $2,253,000

  • 4 · Accounts receivable

    beginning of year $1,448,041 · end of year $1,417,674

  • 8 · Inventories for sale or use

    beginning of year $394,966 · end of year $3,751,086

  • 9 · Prepaid expenses and deferred charges

    beginning of year $273,807 · end of year $186,260

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

    $72,030,398

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

    $25,282,555

  • 10c · Land, buildings and equipment, net

    beginning of year $42,063,191 · end of year $46,747,843

  • 13 · Investments: program-related

    beginning of year $6,322,922 · end of year $6,516,305

  • 15 · Other assets

    beginning of year $1,035,860 · end of year $1,491,976

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,311,330 · end of year $3,630,484

  • 23 · Secured mortgages and notes payable

    beginning of year $9,098,660 · end of year $13,626,142

  • 25 · Other liabilities

    beginning of year $6,174,139 · end of year $4,680,673

  • 29 · Capital stock, trust principal or current funds

    beginning of year $39,550 · end of year $40,125

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

    beginning of year $1,105,625 · end of year $1,108,073

  • 31 · Retained earnings, endowment or other funds

    beginning of year $41,022,837 · end of year $41,572,965

Mission and programs · 2022

Mission

RURAL ELECTRIC SERVICE

  • PROVIDES ELECTRICAL SERVICE TO MEMBERS IN RURAL AREAS.

    Expenses $27,770,609 · Revenue $26,495,579

  • PROVIDES ELECTRICAL SERVICE TO MEMBERS IN RURAL AREAS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Wh Peacock

    GENERAL MANA

    Total calculated
    $114,712
    From this org
    $139,423
    From related orgs
    $0
    Other
    -$24,711
    Hours/week
    40

  • Billy L Joiner

    DIRECTOR

    Total calculated
    $28,790
    From this org
    $26,868
    From related orgs
    $0
    Other
    $1,922

  • Barry Martin

    PRESIDENT

    Total calculated
    $27,035
    From this org
    $25,113
    From related orgs
    $0
    Other
    $1,922

  • Billy Hartley

    DIRECTOR

    Total calculated
    $16,985
    From this org
    $15,063
    From related orgs
    $0
    Other
    $1,922

  • Algie J Jones Jr

    DIRECTOR

    Total calculated
    $16,782
    From this org
    $14,860
    From related orgs
    $0
    Other
    $1,922

  • A Ray Lancaster

    DIRECTOR

    Total calculated
    $16,675
    From this org
    $14,753
    From related orgs
    $0
    Other
    $1,922

  • Joel Blake Rowland

    DIRECTOR

    Total calculated
    $16,588
    From this org
    $14,666
    From related orgs
    $0
    Other
    $1,922

  • John Woodard

    VICE PRES.

    Total calculated
    $14,667
    From this org
    $12,745
    From related orgs
    $0
    Other
    $1,922

  • Charles M Pittman

    SEC. TRES.

    Total calculated
    $13,636
    From this org
    $11,714
    From related orgs
    $0
    Other
    $1,922

  • James W Fordham Sr

    DIRECTOR

    Total calculated
    $10,549
    From this org
    $8,627
    From related orgs
    $0
    Other
    $1,922

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.

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
2022
Filed
2 May 2023
IRS schema version
2022v5.0
Source object
202311259349300626

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