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Nonprofiteer
← BRUNSWICK ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2025

Filed by BRUNSWICK ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$254,802,534
Total expenses
$250,372,941
Contributions and grants received
$0
Grants paid
$479,162
Program service revenue
$253,443,803
Investment income
$1,124,740
Other revenue
$233,991
Total assets, end of year
$555,121,850
Total liabilities, end of year
$317,495,893
Net assets or fund balances, end of year
$237,625,957
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$250,372,941

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: ELEC. SALE/DISTRIBUTION

    total $240,774,310 · related or exempt $240,774,310

  • 2b · Program service revenue: CONTRIBUTION IN AID OF CONST.

    total $7,585,701 · related or exempt $7,585,701

  • 2c · Program service revenue: SOUTHPORT O&M CONTRACT

    total $2,497,501 · related or exempt $2,497,501

  • 2d · Program service revenue: SUNNY POINT O&M CONTRACT

    total $1,567,440 · related or exempt $1,567,440

  • 2e · Program service revenue: CAPITAL CREDITS RECEIVED

    total $1,018,851 · related or exempt $1,018,851

  • 3 · Investment income

    total $1,127,119 · excluded $1,127,119

  • 6a · Gross rents

    real property $136,076 · personal property $160,415

  • 6b · Less rental expenses

    real property $67,060

  • 6c · Rental income or loss

    real property $69,016 · personal property $160,415

  • 6d · Net rental income or loss

    total $229,431 · related or exempt $69,016 · excluded $160,415

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

    other assets $2,379

  • 7c · Gain or loss

    other assets -$2,379

  • 7d · Net gain or loss

    total -$2,379 · excluded -$2,379

  • 11a · Other revenue: LOAN SERVICING FEES

    total $69,814 · unrelated business $69,814

  • 11b · Other revenue: COMMON COSTS ALLOCATION

    total $7,034 · unrelated business $7,034

  • 11c · Other revenue: INCOME FROM SUBSIDIARY

    total -$72,288 · related or exempt -$72,288

  • 11e · Other revenue, total

    $4,560

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $479,162

  • 4 · Benefits paid to or for members

    total $11,245,403

  • 5 · Compensation of officers, directors and key employees

    total $4,230,735

  • 7 · Other salaries and wages

    total $16,087,611

  • 8 · Pension plan contributions

    total $2,827,309

  • 9 · Other employee benefits

    total $920,762

  • 10 · Payroll taxes

    total $1,532,508

  • 11b · Fees: legal

    total $119,063

  • 17 · Travel

    total $3,835,370

  • 19 · Conferences, conventions and meetings

    total $297,680

  • 20 · Interest

    total $8,603,780

  • 22 · Depreciation, depletion and amortization

    total $23,292,231

  • 24a · Other expenses: COST OF POWER

    total $160,581,565

  • 24b · Other expenses: ADMIN & GENERAL

    total $9,217,737

  • 24c · Other expenses: DISTRIBUTION OPERATION

    total $5,216,666

  • 24d · Other expenses: DISTRIBUTION MAINTENANCE

    total $5,128,010

  • 24e · All other expenses

    total -$3,242,651

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,025 · end of year $16,763,178

  • 2 · Savings and temporary cash investments

    beginning of year $21,490,300 · end of year $1,089,721

  • 4 · Accounts receivable

    beginning of year $29,586,354 · end of year $29,341,485

  • 7 · Other notes and loans receivable

    beginning of year $2,270,566 · end of year $4,399,141

  • 8 · Inventories for sale or use

    beginning of year $15,807,759 · end of year $14,251,644

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,230,745 · end of year $1,089,710

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

    $685,641,666

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

    $264,615,006

  • 10c · Land, buildings and equipment, net

    beginning of year $401,890,257 · end of year $421,026,660

  • 12 · Investments: other securities

    beginning of year $893,058 · end of year $820,770

  • 13 · Investments: program-related

    beginning of year $61,992,461 · end of year $66,339,541

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,809,212 · end of year $34,999,422

  • 23 · Secured mortgages and notes payable

    beginning of year $234,770,464 · end of year $241,906,420

  • 24 · Unsecured notes and loans payable

    beginning of year $1,128,148 · end of year $855,771

  • 25 · Other liabilities

    beginning of year $42,503,364 · end of year $39,734,280

  • 31 · Retained earnings, endowment or other funds

    beginning of year $222,952,337 · end of year $237,625,957

Mission and programs · 2025

Mission

THE MISSION OF BRUNSWICK ELECTRIC MEMBERSHIP CORPORATION IS TO PROVIDE OUR COOPERATIVE MEMBERSHIP WITH SUPERIOR ELECTRIC AND CONSUMER SERVICES THROUGH OPEN COMMUNICATION, UTILIZING A HIGHLY-TRAINED, EFFICIENT WORK FORCE IN CONJUNCTION WITH A KNOWLEDGEABLE AND WELL-INFORMED MEMBERSHIP. OUR PRIMARY GOAL IS TO DISTRIBUTE SAFE, AFFORDABLE, RELIABLE, AND ENVIRONMENTALLY RESPONSIBLE ELECTRICITY TO OUR MEMBERSHIP.

  • DISTRIBUTION OF ELECTRICITY TO MEMBERS, WHICH INCLUDES THE PURCHASE OF ELECTRIC POWER FROM SUPPLIERS, TRANSMISSION OPERATIONS AND MAINTENANCE, DISTRIBUTION OPERATIONS AND MAINTENANCE, CUSTOMER ACCOUNTING, CUSTOMER SERVICE, MARKETING, GENERAL ADMINISTRATION, AND MINOR NON-OPERATING ACTIVITIES.

    Expenses $236,785,344 · Grants $479,162

  • PATRONAGE DIVIDENDS PAID TO MEMBERS' ACCOUNTS. SEE PART IX, LINE 4, "BENEFITS PAID TO OR FOR MEMBERS", PER IRS INSTRUCTIONS.

    Expenses $11,245,403

  • OPERATION, MAINTENANCE, AND CONSTRUCTION OF ELECTRIC DISTRIBUTION LINES FOR (1) THE MILITARY OCEAN TERMINAL SUNNY POINT, UNDER THE TERMS OF A LONG-TERM CONTRACT WITH THE UNITED STATES GOVERNMENT, AND (2) THE CITY OF SOUTHPORT, NC.

    Expenses $2,342,194

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Joshua Winslow

    CEO

    Total calculated
    $684,409
    From this org
    $526,075
    From related orgs
    $0
    Other
    $158,334
    Hours/week
    50 + 5 related

    Schedule J breakdown matched by us

    Base
    $526,075
    Bonus
    not reported
    Other
    not reported
    Deferred
    $127,470
    Nontaxable benefits
    $30,864
    Filer's total
    $684,409

  • Corey Thurlow

    COO

    Total calculated
    $445,979
    From this org
    $380,919
    From related orgs
    $0
    Other
    $65,060
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $374,427
    Bonus
    $6,492
    Other
    not reported
    Deferred
    $52,985
    Nontaxable benefits
    $12,075
    Filer's total
    $445,979

  • Scott Thomas

    VP CORP SERV

    Total calculated
    $430,458
    From this org
    $350,483
    From related orgs
    $0
    Other
    $79,975
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $344,647
    Bonus
    $5,836
    Other
    not reported
    Deferred
    $35,440
    Nontaxable benefits
    $44,535
    Filer's total
    $430,458

  • David Reel

    VP TECHNOLOG

    Total calculated
    $425,591
    From this org
    $316,739
    From related orgs
    $0
    Other
    $108,852
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $311,385
    Bonus
    $5,354
    Other
    not reported
    Deferred
    $77,988
    Nontaxable benefits
    $30,864
    Filer's total
    $425,591

  • Lisa Fitzgerald

    VP FINANCE

    Total calculated
    $464,914
    From this org
    $328,629
    From related orgs
    $0
    Other
    $136,285
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $323,027
    Bonus
    $5,602
    Other
    not reported
    Deferred
    $106,393
    Nontaxable benefits
    $29,892
    Filer's total
    $464,914

  • Robert Maxwell

    VP ENG & OPS

    Total calculated
    $306,977
    From this org
    $248,513
    From related orgs
    $0
    Other
    $58,464
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $243,729
    Bonus
    $4,784
    Other
    not reported
    Deferred
    $27,600
    Nontaxable benefits
    $30,864
    Filer's total
    $306,977

  • James T Tippett

    MGR SYS OPER

    Total calculated
    $270,457
    From this org
    $252,484
    From related orgs
    $0
    Other
    $17,973
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $247,852
    Bonus
    $4,632
    Other
    not reported
    Deferred
    $4,435
    Nontaxable benefits
    $13,538
    Filer's total
    $270,457

  • James Green

    MGR MEMBER S

    Total calculated
    $212,786
    From this org
    $197,387
    From related orgs
    $0
    Other
    $15,399
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,522
    Bonus
    $3,865
    Other
    not reported
    Deferred
    $3,716
    Nontaxable benefits
    $11,683
    Filer's total
    $212,786

  • John E Johnson

    MGR DIST. OP

    Total calculated
    $227,790
    From this org
    $193,749
    From related orgs
    $0
    Other
    $34,041
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,135
    Bonus
    $3,614
    Other
    not reported
    Deferred
    $3,469
    Nontaxable benefits
    $30,572
    Filer's total
    $227,790

  • Jeffrey Jackson

    MGR, INFO TE

    Total calculated
    $236,510
    From this org
    $201,973
    From related orgs
    $0
    Other
    $34,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,111
    Bonus
    $3,862
    Other
    not reported
    Deferred
    $3,694
    Nontaxable benefits
    $30,843
    Filer's total
    $236,510

  • Karla Murphy

    CONTROLLER

    Total calculated
    $182,298
    From this org
    $167,453
    From related orgs
    $0
    Other
    $14,845
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,276
    Bonus
    $3,177
    Other
    not reported
    Deferred
    $3,028
    Nontaxable benefits
    $11,817
    Filer's total
    $182,298

  • Brian Hall

    OPS TECH MGR

    Total calculated
    $200,871
    From this org
    $166,981
    From related orgs
    $0
    Other
    $33,890
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,792
    Bonus
    $3,189
    Other
    not reported
    Deferred
    $3,047
    Nontaxable benefits
    $30,843
    Filer's total
    $200,871

  • Sarah Wright

    HR DIRECTOR

    Total calculated
    $186,382
    From this org
    $157,635
    From related orgs
    $0
    Other
    $28,747
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,675
    Bonus
    $2,960
    Other
    not reported
    Deferred
    $16,930
    Nontaxable benefits
    $11,817
    Filer's total
    $186,382

  • Paul Gore

    CONTRACT CON

    Total calculated
    $189,740
    From this org
    $155,871
    From related orgs
    $0
    Other
    $33,869
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,746
    Bonus
    $3,125
    Other
    not reported
    Deferred
    $3,005
    Nontaxable benefits
    $30,864
    Filer's total
    $189,740

  • John Ward

    DIRECTOR

    Total calculated
    $49,384
    From this org
    $48,926
    From related orgs
    $458
    Other
    $0
    Hours/week
    6

  • Larry Fowler

    SECT./ TREAS

    Total calculated
    $64,776
    From this org
    $64,281
    From related orgs
    $495
    Other
    $0
    Hours/week
    11

  • David Gore

    PRESIDENT

    Total calculated
    $72,478
    From this org
    $71,969
    From related orgs
    $509
    Other
    $0
    Hours/week
    21

  • Frederick Tedder

    DIRECTOR

    Total calculated
    $41,746
    From this org
    $41,243
    From related orgs
    $503
    Other
    $0
    Hours/week
    9

  • Calvin Duncan

    ASST. SECT./

    Total calculated
    $30,314
    From this org
    $29,790
    From related orgs
    $524
    Other
    $0
    Hours/week
    4

  • Dan Strickland

    DIRECTOR

    Total calculated
    $59,051
    From this org
    $58,531
    From related orgs
    $520
    Other
    $0
    Hours/week
    12

  • Moses Herring

    DIRECTOR

    Total calculated
    $28,795
    From this org
    $28,338
    From related orgs
    $457
    Other
    $0
    Hours/week
    4

  • Perry Sellers

    DIRECTOR

    Total calculated
    $29,267
    From this org
    $28,810
    From related orgs
    $457
    Other
    $0
    Hours/week
    7

  • Glenn Humbert

    VICE PRESIDE

    Total calculated
    $23,373
    From this org
    $22,910
    From related orgs
    $463
    Other
    $0
    Hours/week
    5

  • Kimberly Anderson

    DIRECTOR

    Total calculated
    $26,386
    From this org
    $25,909
    From related orgs
    $477
    Other
    $0
    Hours/week
    10

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
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
JOSHUA WINSLOW 0 23,500 0 SCOTT THOMAS 0 23,500 0 DAVID REEL 0 23,500 0 LISA FITZGERALD 0 23,500 0
SCHEDULE J, PART III
CERTAIN INDIVIDUALS PARTICIPATE IN A NONQUALIFIED EXECUTIVE BENEFIT RESTORATION PLAN (EBR) UNDER CODE SECTION 457(B), AS A RESULT OF HAVING BENEFITS UNDER THE QUALIFIED 401(K) PLAN RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS THAT MAY BE PROVIDED UNDER THE QUALIFIED 401(K) PLAN.

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.

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.

  • SENC ENERGY LLC

    C CORP · ENERGY · NC · 100% owned · share of income -$72,288 · share of assets $845,272 · controlled entity

    Directly controlled by BRUNSWICK EMC

  • BRUNSWICK EMC RETIREE WELLFARE BENEFIT PLAN

    TRUST · RETIREMENT · NC · 100% owned · controlled entity

    Directly controlled by BRUNSWICK EMC

Provenance

Return type
form_990
Tax year
2025
Filed
30 June 2026
IRS schema version
2025v4.0
Source object
202602439349301345

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