Skip to content
Nonprofiteer
← WALTON EMC

Form 990 for tax year 2024

Filed by WALTON EMC.

Totals

Total revenue
$420,877,567
Total expenses
$420,877,567
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$415,857,199
Investment income
$2,438,337
Other revenue
$2,582,031
Total assets, end of year
$646,919,210
Total liabilities, end of year
$368,140,121
Net assets or fund balances, end of year
$278,779,089
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$420,877,567

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 REVENUE

    total $404,196,271 · related or exempt $404,196,271

  • 2b · Program service revenue: G & T CAPITAL CREDITS

    total $8,575,083 · related or exempt $8,575,083

  • 2c · Program service revenue: POLE RENTAL REVENUE

    total $3,085,845 · excluded $3,085,845

  • 3 · Investment income

    total $2,438,337 · related or exempt $925,321 · excluded $1,513,016

  • 11a · Other revenue: EMC SECURITY

    total $2,582,031 · unrelated business $2,582,031

  • 11e · Other revenue, total

    $2,582,031

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $33,356,159

  • 5 · Compensation of officers, directors and key employees

    total $1,178,743

  • 13 · Office expenses

    total $369,309

  • 20 · Interest

    total $8,525,440

  • 22 · Depreciation, depletion and amortization

    total $18,177,685

  • 24a · Other expenses: PURCHASED POWER

    total $310,074,801

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $17,815,229

  • 24c · Other expenses: ADMIN. & GENERAL EXP.

    total $11,302,016

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $11,202,566

  • 24e · All other expenses

    total $8,875,619

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,487,239 · end of year $3,618,700

  • 2 · Savings and temporary cash investments

    beginning of year $37,314,688 · end of year $16,566,274

  • 4 · Accounts receivable

    beginning of year $40,295,516 · end of year $37,473,276

  • 7 · Other notes and loans receivable

    beginning of year $17,404 · end of year $21,794

  • 8 · Inventories for sale or use

    beginning of year $5,996,172 · end of year $7,501,544

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,419,666 · end of year $25,627,753

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

    $595,061,901

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

    $234,677,007

  • 10c · Land, buildings and equipment, net

    beginning of year $338,282,010 · end of year $360,384,894

  • 11 · Investments: publicly traded securities

    beginning of year $40,487,224 · end of year $39,760,215

  • 13 · Investments: program-related

    beginning of year $146,798,952 · end of year $155,930,741

  • 15 · Other assets

    beginning of year $38,666 · end of year $34,019

  • 17 · Accounts payable and accrued expenses

    beginning of year $72,621,958 · end of year $50,667,704

  • 23 · Secured mortgages and notes payable

    beginning of year $174,246,111 · end of year $190,808,179

  • 25 · Other liabilities

    beginning of year $128,815,267 · end of year $126,664,238

  • 29 · Capital stock, trust principal or current funds

    beginning of year $948,550 · end of year $942,341

  • 31 · Retained earnings, endowment or other funds

    beginning of year $262,505,651 · end of year $277,836,748

Mission and programs · 2024

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM'S AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

    Expenses $420,877,567

As filed on the 2024 return.

Listed in Part VII

  • Michael Q Lowder

    CHAIRMAN

    Total calculated
    $34,440
    From this org
    $34,440
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jason Sidwell

    VICE CHAIRMA

    Total calculated
    $30,887
    From this org
    $30,887
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Billy Ray Allen

    SEC-TREASURE

    Total calculated
    $31,855
    From this org
    $31,855
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dawn Taylor

    DIRECTOR

    Total calculated
    $30,175
    From this org
    $30,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Daniel J Chelko

    DIRECTOR

    Total calculated
    $30,755
    From this org
    $30,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Sammy Simonton

    DIRECTOR

    Total calculated
    $31,105
    From this org
    $31,105
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Thomas H Adcock Jr

    DIRECTOR

    Total calculated
    $30,055
    From this org
    $30,055
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Wayne Lester

    DIRECTOR

    Total calculated
    $17,550
    From this org
    $17,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Stan Pitts

    DIRECTOR

    Total calculated
    $31,350
    From this org
    $31,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jim Whitley

    DIRECTOR

    Total calculated
    $13,767
    From this org
    $13,767
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ronald T Marshall

    PRES & CEO

    Total calculated
    $896,805
    From this org
    $727,890
    From related orgs
    $0
    Other
    $168,915
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $637,243
    Bonus
    $24,600
    Other
    $66,047
    Deferred
    $165,431
    Nontaxable benefits
    $3,484
    Filer's total
    $896,805

  • Russell A Delong

    SR VP CORPOR

    Total calculated
    $548,940
    From this org
    $442,252
    From related orgs
    $0
    Other
    $106,688
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $371,704
    Bonus
    $24,600
    Other
    $45,948
    Deferred
    $103,684
    Nontaxable benefits
    $3,004
    Filer's total
    $548,940

  • James M Bottone

    VP ENERGY &

    Total calculated
    $453,750
    From this org
    $358,895
    From related orgs
    $0
    Other
    $94,855
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $318,751
    Bonus
    $24,600
    Other
    $15,544
    Deferred
    $91,371
    Nontaxable benefits
    $3,484
    Filer's total
    $453,750

  • Timothy Morris

    VP ENG & OPS

    Total calculated
    $403,774
    From this org
    $359,863
    From related orgs
    $0
    Other
    $43,911
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $301,915
    Bonus
    $24,600
    Other
    $33,348
    Deferred
    $40,907
    Nontaxable benefits
    $3,004
    Filer's total
    $403,774

  • Marsha Shumate

    CFO/SR. VP F

    Total calculated
    $549,271
    From this org
    $442,405
    From related orgs
    $0
    Other
    $106,866
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $370,406
    Bonus
    $24,600
    Other
    $47,399
    Deferred
    $103,382
    Nontaxable benefits
    $3,484
    Filer's total
    $549,271

  • Hudson Kingery

    SR. VP - POW

    Total calculated
    $471,303
    From this org
    $328,994
    From related orgs
    $0
    Other
    $142,309
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $268,253
    Bonus
    $24,600
    Other
    $36,141
    Deferred
    $139,879
    Nontaxable benefits
    $2,430
    Filer's total
    $471,303

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 · Form 990 of other organizations
  • 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.

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.

Disregarded entities

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

  • WALTON BAINBRIDGE LLC

    GENERATION · GA · income $217,790 · assets $2,276,873

    Directly controlled by YES

  • WALTON DISCOVER LLC

    GENERATION · GA · income $418,714 · assets $3,471,642

    Directly controlled by YES

Related corporations and trusts

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

  • WALTON ENERGY INC

    C CORP · NATURAL GA · GA · share of income $1,663,856 · share of assets $42,968,167

    Directly controlled by YES

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.0
Source object
202523189349302607

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

The source document this was parsed from is served over the API, which is where bulk and document access live.