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Nonprofiteer
← THREE NOTCH ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by THREE NOTCH ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$44,143,435
Total expenses
$42,266,188
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$42,503,990
Investment income
$1,639,445
Other revenue
$0
Total assets, end of year
$113,292,027
Total liabilities, end of year
$48,837,122
Net assets or fund balances, end of year
$64,454,905
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$42,266,188

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: Electricity Sales

    total $41,242,777 · related or exempt $41,242,777

  • 2b · Program service revenue: Capital Credits

    total $1,017,770 · related or exempt $1,017,770

  • 2c · Program service revenue: Pole Rental

    total $245,785 · related or exempt $245,785

  • 2d · Program service revenue: SER, LLC

    total -$2,342 · related or exempt -$2,342

  • 3 · Investment income

    total $1,639,445 · related or exempt $1,500,000 · excluded $139,445

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,838,943

  • 5 · Compensation of officers, directors and key employees

    total $405,799

  • 20 · Interest

    total $1,872,844

  • 22 · Depreciation, depletion and amortization

    total $2,980,213

  • 24a · Other expenses: COST OF POWER

    total $19,404,328

  • 24b · Other expenses: DISTRIBUTION MAINTENANC

    total $5,276,902

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $3,828,066

  • 24d · Other expenses: GENERAL & ADMINISTRATIO

    total $1,580,003

  • 24e · All other expenses

    total $1,079,090

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,608,741 · end of year $12,187,830

  • 4 · Accounts receivable

    beginning of year $3,236,086 · end of year $4,090,597

  • 7 · Other notes and loans receivable

    beginning of year $282,300 · end of year $203,600

  • 8 · Inventories for sale or use

    beginning of year $925,833 · end of year $949,058

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

    $106,529,525

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

    $37,213,374

  • 10c · Land, buildings and equipment, net

    beginning of year $67,066,107 · end of year $69,316,151

  • 13 · Investments: program-related

    beginning of year $26,617,317 · end of year $25,557,874

  • 15 · Other assets

    beginning of year $652,700 · end of year $986,917

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,015,031 · end of year $3,411,744

  • 23 · Secured mortgages and notes payable

    beginning of year $45,580,418 · end of year $42,663,341

  • 25 · Other liabilities

    beginning of year $2,698,390 · end of year $2,762,037

  • 29 · Capital stock, trust principal or current funds

    beginning of year $41,375 · end of year $41,000

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

    beginning of year $374,806 · end of year $374,964

  • 31 · Retained earnings, endowment or other funds

    beginning of year $58,679,064 · end of year $64,038,941

Mission and programs · 2024

Mission

TO PROVIDE OUR MEMBERS WITH PROMPT & EFFICIENT SERVICE AND ELECTRICITY AT THE LOWEST POSSIBLE COST.

Activities or mission (Part I)

TO PROVIDE MEMBERS PROMPT & EFFICIENT SERVICE & ELECTRICITY AT THE LOWEST POSSIBLE COST.

  • SALE OF ELECTRICITY TO APPROXIMATELY 8,200 COOPERATIVE MEMBERS LOCATED IN SOUTHWEST GEORGIA.

    Expenses $42,266,188

As filed on the 2024 return.

Listed in Part VII

  • Stacy T Cooper

    DIRECTOR

    Total calculated
    $31,191
    From this org
    $31,191
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Sam Hattaway

    DIRECTOR

    Total calculated
    $30,871
    From this org
    $30,871
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • James Vann Hornsby

    ASSISTANT SEC/TREAS

    Total calculated
    $15,484
    From this org
    $15,484
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kimbley Rentz

    VICE CHAIRMAN

    Total calculated
    $10,491
    From this org
    $7,291
    From related orgs
    $0
    Other
    $3,200
    Hours/week
    5

  • Stephen J Holt

    CHAIRMAN

    Total calculated
    $14,732
    From this org
    $14,732
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kenneth Massey

    SECRETARY-TREASURER

    Total calculated
    $14,032
    From this org
    $14,032
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Tony Bruner

    DIRECTOR

    Total calculated
    $25,496
    From this org
    $25,496
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Barbara Means

    DIRECTOR

    Total calculated
    $6,400
    From this org
    $6,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Alex Jernigan

    DIRECTOR

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Janet Grimsley

    CEO

    Total calculated
    $251,253
    From this org
    $180,811
    From related orgs
    $0
    Other
    $70,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,967
    Bonus
    $10,844
    Other
    $0
    Deferred
    $44,024
    Nontaxable benefits
    $26,418
    Filer's total
    $251,253

  • Robert R Wilbourn

    SERVICEMAN

    Total calculated
    $155,382
    From this org
    $115,811
    From related orgs
    $0
    Other
    $39,571
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,632
    Bonus
    $5,179
    Other
    $0
    Deferred
    $22,589
    Nontaxable benefits
    $16,982
    Filer's total
    $155,382

  • William T Richardson

    OPERATIONS MANAGER

    Total calculated
    $169,679
    From this org
    $117,391
    From related orgs
    $0
    Other
    $52,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,988
    Bonus
    $6,403
    Other
    $0
    Deferred
    $26,482
    Nontaxable benefits
    $25,806
    Filer's total
    $169,679

  • Michael Beard

    FOREMAN

    Total calculated
    $165,410
    From this org
    $128,155
    From related orgs
    $0
    Other
    $37,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,927
    Bonus
    $5,228
    Other
    $0
    Deferred
    $20,408
    Nontaxable benefits
    $16,847
    Filer's total
    $165,410

  • Markus E Whittaker

    Shop Foreman

    Total calculated
    $154,203
    From this org
    $108,086
    From related orgs
    $0
    Other
    $46,117
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $102,808
    Bonus
    $5,278
    Other
    $0
    Deferred
    $20,408
    Nontaxable benefits
    $25,709
    Filer's total
    $154,203

  • Joshua K Cook

    FOREMAN

    Total calculated
    $172,751
    From this org
    $125,599
    From related orgs
    $0
    Other
    $47,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,095
    Bonus
    $5,504
    Other
    $0
    Deferred
    $21,482
    Nontaxable benefits
    $25,670
    Filer's total
    $172,751

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 · 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.

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 -$2,342 · share of assets $11,014

Related corporations and trusts

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

  • THREE NOTCH HOLDING CORPORATION

    C · ELECTRIC POWER GENERATION · GA · 100% owned · share of income -$335,335 · share of assets $2,242,390

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349303741

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