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← ELECTRIC MEMBERSHIP CORP BALDWIN COUNTY ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by ELECTRIC MEMBERSHIP CORP BALDWIN COUNTY ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$195,242,494
Total expenses
$193,470,762
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$191,835,171
Investment income
$106,921
Other revenue
$3,300,402
Total assets, end of year
$361,094,630
Total liabilities, end of year
$201,053,632
Net assets or fund balances, end of year
$160,040,998
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: ELECTRIC SALES

    total $191,067,409 · excluded $191,067,409

  • 2b · Program service revenue: POLE ATTACHMENTS

    total $767,762 · excluded $767,762

  • 3 · Investment income

    total $106,921 · excluded $106,921

  • 11a · Other revenue: CAPITAL CREDITS

    total $3,298,748 · excluded $3,298,748

  • 11b · Other revenue: OTHER NON OPERATING INCOME

    total $1,654 · excluded $1,654

  • 11e · Other revenue, total

    $3,300,402

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,059,220

  • 5 · Compensation of officers, directors and key employees

    total $1,391,457

  • 7 · Other salaries and wages

    total $1,023,303

  • 20 · Interest

    total $4,731,510

  • 22 · Depreciation, depletion and amortization

    total $13,509,833

  • 24a · Other expenses: COST OF POWER

    total $128,523,268

  • 24b · Other expenses: DISTRIBUTION- MAINTENANCE

    total $14,177,352

  • 24c · Other expenses: ADMINISTRATIVE & GENERAL

    total $7,499,669

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $6,336,119

  • 24e · All other expenses

    total $10,219,031

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $7,389,545 · end of year $5,536,088

  • 4 · Accounts receivable

    beginning of year $46,745,820 · end of year $32,899,306

  • 8 · Inventories for sale or use

    beginning of year $8,858,094 · end of year $10,819,893

  • 9 · Prepaid expenses and deferred charges

    beginning of year $158,016 · end of year $848,264

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

    $357,705,818

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

    $121,106,143

  • 10c · Land, buildings and equipment, net

    beginning of year $234,879,995 · end of year $236,599,675

  • 13 · Investments: program-related

    beginning of year $71,255,474 · end of year $74,078,347

  • 15 · Other assets

    beginning of year $1,166,200 · end of year $313,057

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,028,286 · end of year $37,085,867

  • 23 · Secured mortgages and notes payable

    beginning of year $151,722,889 · end of year $143,948,449

  • 25 · Other liabilities

    beginning of year $32,678,433 · end of year $20,019,316

  • 29 · Capital stock, trust principal or current funds

    beginning of year $329,630 · end of year $339,475

  • 31 · Retained earnings, endowment or other funds

    beginning of year $156,693,906 · end of year $159,701,523

Mission and programs · 2022

Mission

RURAL ELECTRIC COOPERATIVE SERVING BALDWIN AND MONROE COUNTIES IN ALABAMA.

  • PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 84,819 CUSTOMERS IN THE RURAL AREAS OF BALDWIN AND MONROE COUNTIES IN ALABAMA.

  • PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 84,819 CUSTOMERS IN THE RURAL AREAS OF BALDWIN AND MONROE COUNTIES IN ALABAMA.

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

Listed in Part VII

  • Karen L Moore

    CEO

    Total calculated
    $725,178
    From this org
    $600,719
    From related orgs
    $0
    Other
    $124,459
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $422,854
    Bonus
    $50,500
    Other
    $127,365
    Deferred
    $103,217
    Nontaxable benefits
    $21,242
    Filer's total
    $725,178

  • Alan L Schott

    VP FIN/ACC

    Total calculated
    $386,843
    From this org
    $279,794
    From related orgs
    $0
    Other
    $107,049
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,493
    Bonus
    $12,305
    Other
    $16,996
    Deferred
    $85,807
    Nontaxable benefits
    $21,242
    Filer's total
    $386,843

  • Steven Kent Irvin

    VP ENGINEERI

    Total calculated
    $369,365
    From this org
    $266,805
    From related orgs
    $0
    Other
    $102,560
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $240,131
    Bonus
    $11,258
    Other
    $15,416
    Deferred
    $81,318
    Nontaxable benefits
    $21,242
    Filer's total
    $369,365

  • William Jody Taylor

    VP OPERATION

    Total calculated
    $324,471
    From this org
    $228,519
    From related orgs
    $0
    Other
    $95,952
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $216,305
    Bonus
    $500
    Other
    $11,714
    Deferred
    $74,710
    Nontaxable benefits
    $21,242
    Filer's total
    $324,471

  • Mark Ingram

    VP ENERGY SE

    Total calculated
    $319,805
    From this org
    $227,505
    From related orgs
    $0
    Other
    $92,300
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $212,116
    Bonus
    $3,700
    Other
    $11,689
    Deferred
    $71,075
    Nontaxable benefits
    $21,225
    Filer's total
    $319,805

  • Sue Campbell

    MANAGER HR

    Total calculated
    $256,243
    From this org
    $187,666
    From related orgs
    $0
    Other
    $68,577
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $173,872
    Bonus
    $10,080
    Other
    $3,714
    Deferred
    $58,450
    Nontaxable benefits
    $10,127
    Filer's total
    $256,243

  • W Brian Seals

    MANAGER ENGI

    Total calculated
    $249,386
    From this org
    $175,142
    From related orgs
    $0
    Other
    $74,244
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $156,582
    Bonus
    $6,300
    Other
    $12,260
    Deferred
    $53,390
    Nontaxable benefits
    $20,854
    Filer's total
    $249,386

  • Deborah Ellison

    MEMBER SERVI

    Total calculated
    $236,441
    From this org
    $166,185
    From related orgs
    $0
    Other
    $70,256
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $144,931
    Bonus
    $10,057
    Other
    $11,197
    Deferred
    $49,482
    Nontaxable benefits
    $20,774
    Filer's total
    $236,441

  • Peggy Vanover-Barnes

    PRESIDENT

    Total calculated
    $82,774
    From this org
    $63,225
    From related orgs
    $0
    Other
    $19,549
    Hours/week
    30.33

  • Chad Grace

    DIRECTOR

    Total calculated
    $77,499
    From this org
    $57,925
    From related orgs
    $0
    Other
    $19,574
    Hours/week
    10.9

  • Robert Kaiser

    DIRECTOR

    Total calculated
    $61,608
    From this org
    $42,250
    From related orgs
    $0
    Other
    $19,358
    Hours/week
    10.37

  • Aubury L Fuller

    DIRECTOR

    Total calculated
    $59,372
    From this org
    $39,900
    From related orgs
    $0
    Other
    $19,472
    Hours/week
    9.15

  • Joseph Coleman

    SECRETARY/TR

    Total calculated
    $52,724
    From this org
    $33,175
    From related orgs
    $0
    Other
    $19,549
    Hours/week
    10.23

  • Tommie Werneth

    VICE-PRESIDE

    Total calculated
    $47,707
    From this org
    $28,175
    From related orgs
    $0
    Other
    $19,532
    Hours/week
    10.42

  • Carolyn Doughty

    DIRECTOR

    Total calculated
    $17,776
    From this org
    $17,775
    From related orgs
    $0
    Other
    $1
    Hours/week
    14.53

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 · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART III
PENSION CONTRIBUTIONS MADE ON BEHALF OF CERTAIN EMPLOYEES ARE CAPPED IN ACCORDANCE WITH IRS REGULATIONS. MS. MOORE RECEIVED A PAYMENT THAT IS INCLUDED IN OTHER COMPENSATION THAT IS INTENDED TO COMPENSATE HER FOR THIS REDUCTION IN HER PENSION CONTRIBUTION MADE BY THE COOPERATIVE. THIS PAYMENT FOR LOST BENEFITS HAS BEEN REFLECTED ON MS. MOORE'S IRS FORM W2 AS TAXABLE WAGES.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
1 April 2023
IRS schema version
2022v5.0
Source object
202341319349301594

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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