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Nonprofiteer
← WASHINGTON ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by WASHINGTON ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$48,227,831
Total expenses
$48,227,831
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$48,199,789
Investment income
$28,042
Other revenue
$0
Total assets, end of year
$120,334,964
Total liabilities, end of year
$72,772,035
Net assets or fund balances, end of year
$47,562,929
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: ELECTRICITY SALES

    total $45,927,267 · related or exempt $45,927,267

  • 2b · Program service revenue: INTERNET REVENUE

    total $956,967 · related or exempt $956,967

  • 2c · Program service revenue: PATRONAGE CAPITAL CREDITS

    total $838,613 · related or exempt $838,613

  • 2d · Program service revenue: POLE RENTAL

    total $474,942 · excluded $474,942

  • 2e · Program service revenue: OTHER REVENUE

    total $2,000 · related or exempt $2,000

  • 3 · Investment income

    total $28,042 · related or exempt $28,042

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,061,491

  • 5 · Compensation of officers, directors and key employees

    total $467,222

  • 7 · Other salaries and wages

    total $760,013

  • 13 · Office expenses

    total $403,217

  • 20 · Interest

    total $1,728,508

  • 22 · Depreciation, depletion and amortization

    total $3,024,595

  • 24a · Other expenses: PURCHASED POWER

    total $31,453,908

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $3,664,034

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $2,834,604

  • 24d · Other expenses: ADMIN & GENERAL

    total $1,549,477

  • 24e · All other expenses

    total $1,280,762

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,542,718 · end of year $1,154,469

  • 2 · Savings and temporary cash investments

    end of year $750,000

  • 4 · Accounts receivable

    beginning of year $3,975,653 · end of year $5,281,480

  • 8 · Inventories for sale or use

    beginning of year $3,820,257 · end of year $9,628,448

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,161,659 · end of year $2,006,027

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

    $120,005,876

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

    $37,837,019

  • 10c · Land, buildings and equipment, net

    beginning of year $63,856,946 · end of year $82,168,857

  • 13 · Investments: program-related

    beginning of year $18,634,941 · end of year $19,345,683

  • 15 · Other assets

    beginning of year $752,247

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,726,416 · end of year $7,578,205

  • 21 · Escrow or custodial account liability

    beginning of year $315 · end of year $315

  • 23 · Secured mortgages and notes payable

    beginning of year $44,023,553 · end of year $62,953,094

  • 25 · Other liabilities

    beginning of year $1,449,156 · end of year $2,240,421

  • 29 · Capital stock, trust principal or current funds

    beginning of year $66,665 · end of year $68,635

  • 31 · Retained earnings, endowment or other funds

    beginning of year $47,478,316 · end of year $47,494,294

Mission and programs · 2022

Mission

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

  • N/A

  • N/A

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

Listed in Part VII

  • Mildred Jackson

    CHAIRMAN

    Total calculated
    $14,447
    From this org
    $14,447
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Michael Beckworth

    VICE CHAIRMA

    Total calculated
    $15,555
    From this org
    $15,555
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • George Michael McDonald

    SECRETARY/TR

    Total calculated
    $15,905
    From this org
    $15,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • William T Helton

    DIRECTOR

    Total calculated
    $12,100
    From this org
    $12,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jeffrey T Lacksen

    DIRECTOR

    Total calculated
    $14,505
    From this org
    $14,505
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kenneth L Vickers

    DIRECTOR

    Total calculated
    $14,505
    From this org
    $14,505
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brenda English

    DIRECTOR

    Total calculated
    $20,105
    From this org
    $20,105
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Wendy H Sellers

    PRESIDENT &

    Total calculated
    $360,101
    From this org
    $255,474
    From related orgs
    $0
    Other
    $104,627
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $248,249
    Bonus
    $1,008
    Other
    $6,217
    Deferred
    $86,319
    Nontaxable benefits
    $18,308
    Filer's total
    $360,101

  • Michael Davis

    VP OF FINANC

    Total calculated
    $232,629
    From this org
    $151,272
    From related orgs
    $0
    Other
    $81,357
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,909
    Bonus
    $915
    Other
    $448
    Deferred
    $54,809
    Nontaxable benefits
    $26,548
    Filer's total
    $232,629

  • Kevin Morris

    VP ENGINEERI

    Total calculated
    $169,721
    From this org
    $141,477
    From related orgs
    $0
    Other
    $28,244
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,346
    Bonus
    $1,075
    Other
    $1,056
    Deferred
    $4,296
    Nontaxable benefits
    $23,948
    Filer's total
    $169,721

  • Chris Biggers

    VP INFORMATI

    Total calculated
    $204,508
    From this org
    $134,713
    From related orgs
    $0
    Other
    $69,795
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $132,696
    Bonus
    $1,063
    Other
    $954
    Deferred
    $47,486
    Nontaxable benefits
    $22,309
    Filer's total
    $204,508

  • Denise Wombles

    MEMBER SERVI

    Total calculated
    $153,155
    From this org
    $100,194
    From related orgs
    $0
    Other
    $52,961
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $98,572
    Bonus
    $1,159
    Other
    $463
    Deferred
    $35,389
    Nontaxable benefits
    $17,572
    Filer's total
    $153,155

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 · 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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 April 2023
IRS schema version
2022v5.0
Source object
202311049349301001

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