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Nonprofiteer
← BRUNSWICK ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by BRUNSWICK ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$218,662,307
Total expenses
$217,749,601
Contributions and grants received
$3,669,212
Grants paid
$289,325
Program service revenue
$214,939,409
Investment income
-$155,764
Other revenue
$209,450
Total assets, end of year
$498,679,399
Total liabilities, end of year
$296,934,084
Net assets or fund balances, end of year
$201,745,315
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$217,749,601

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.

  • 1e · Government grants (contributions)

    $3,669,212

  • 2a · Program service revenue: ELEC. SALE/DISTRIBUTION

    total $205,300,381 · related or exempt $205,300,381

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

    total $5,717,392 · related or exempt $5,717,392

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

    total $1,572,816 · related or exempt $1,572,816

  • 2d · Program service revenue: CAPITAL CREDITS RECEIVED

    total $1,219,330 · related or exempt $1,219,330

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

    total $1,129,490 · related or exempt $1,129,490

  • 3 · Investment income

    total $313,891 · excluded $313,891

  • 6a · Gross rents

    real property $122,846 · personal property $113,683

  • 6b · Less rental expenses

    real property $101,499

  • 6c · Rental income or loss

    real property $21,347 · personal property $113,683

  • 6d · Net rental income or loss

    total $135,030 · related or exempt $22,258 · unrelated business -$911 · excluded $113,683

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

    other assets $469,655

  • 7c · Gain or loss

    other assets -$469,655

  • 7d · Net gain or loss

    total -$469,655 · excluded -$469,655

  • 11a · Other revenue: LOAN SERVICING FEES

    total $110,318 · unrelated business $110,318

  • 11b · Other revenue: COMMON COSTS ALLOCATION

    total $25,717 · unrelated business $25,717

  • 11c · Other revenue: APPLIANCE SALES

    total -$1,094 · unrelated business -$1,094

  • 11d · All other revenue

    total -$60,521 · related or exempt -$60,521

  • 11e · Other revenue, total

    $74,420

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $289,325

  • 4 · Benefits paid to or for members

    total $12,824,899

  • 5 · Compensation of officers, directors and key employees

    total $4,583,544

  • 7 · Other salaries and wages

    total $21,489,208

  • 8 · Pension plan contributions

    total $2,410,271

  • 9 · Other employee benefits

    total $1,561,542

  • 10 · Payroll taxes

    total $1,989,852

  • 11b · Fees: legal

    total $135,346

  • 17 · Travel

    total $3,022,189

  • 19 · Conferences, conventions and meetings

    total $495,937

  • 20 · Interest

    total $7,693,089

  • 22 · Depreciation, depletion and amortization

    total $20,515,962

  • 24a · Other expenses: COST OF POWER

    total $128,876,833

  • 24b · Other expenses: ADMIN & GENERAL

    total $9,145,615

  • 24c · Other expenses: DISTRIBUTION MAINTENANCE

    total $5,222,941

  • 24d · Other expenses: DISTRIBUTION OPERATION

    total $5,136,019

  • 24e · All other expenses

    total -$7,642,971

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,123 · end of year $2,223

  • 2 · Savings and temporary cash investments

    beginning of year $38,105,004 · end of year $32,131,365

  • 4 · Accounts receivable

    beginning of year $27,009,117 · end of year $26,066,127

  • 7 · Other notes and loans receivable

    beginning of year $3,093,585 · end of year $2,838,299

  • 8 · Inventories for sale or use

    beginning of year $9,705,577 · end of year $13,712,929

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,408,179 · end of year $798,475

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

    $595,674,932

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

    $227,066,963

  • 10c · Land, buildings and equipment, net

    beginning of year $355,428,266 · end of year $368,607,969

  • 12 · Investments: other securities

    beginning of year $2,607,434 · end of year $1,897,459

  • 13 · Investments: program-related

    beginning of year $47,883,804 · end of year $52,624,553

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,622,548 · end of year $28,822,646

  • 23 · Secured mortgages and notes payable

    beginning of year $220,923,415 · end of year $220,117,335

  • 24 · Unsecured notes and loans payable

    beginning of year $3,499,827 · end of year $2,407,187

  • 25 · Other liabilities

    beginning of year $49,477,349 · end of year $45,586,916

  • 31 · Retained earnings, endowment or other funds

    beginning of year $187,719,950 · end of year $201,745,315

Mission and programs · 2022

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 $203,211,601 · Grants $289,325

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

    Expenses $12,824,899

  • 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 $1,713,101

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

Listed in Part VII

  • Joshua Winslow

    CEO / GEN MG

    Total calculated
    $883,654
    From this org
    $622,352
    From related orgs
    $0
    Other
    $261,302
    Hours/week
    60 + 5 related

    Schedule J breakdown matched by us

    Base
    $622,352
    Bonus
    not reported
    Other
    not reported
    Deferred
    $229,718
    Nontaxable benefits
    $31,584
    Filer's total
    $883,654

  • Corey Thurlow

    COO

    Total calculated
    $390,299
    From this org
    $308,247
    From related orgs
    $0
    Other
    $82,052
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $302,428
    Bonus
    $5,819
    Other
    not reported
    Deferred
    $70,273
    Nontaxable benefits
    $11,779
    Filer's total
    $390,299

  • David Reel

    VP TECHNOLOG

    Total calculated
    $361,628
    From this org
    $260,546
    From related orgs
    $0
    Other
    $101,082
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,526
    Bonus
    $5,020
    Other
    not reported
    Deferred
    $69,498
    Nontaxable benefits
    $31,584
    Filer's total
    $361,628

  • Lisa Fitzgerald

    VP FINANCE

    Total calculated
    $315,041
    From this org
    $230,342
    From related orgs
    $0
    Other
    $84,699
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $225,922
    Bonus
    $4,420
    Other
    not reported
    Deferred
    $53,115
    Nontaxable benefits
    $31,584
    Filer's total
    $315,041

  • Scott Thomas

    VP CORP SERV

    Total calculated
    $307,669
    From this org
    $224,272
    From related orgs
    $0
    Other
    $83,397
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $219,369
    Bonus
    $4,903
    Other
    not reported
    Deferred
    $51,813
    Nontaxable benefits
    $31,584
    Filer's total
    $307,669

  • James T Tippett

    MGR OPERATIO

    Total calculated
    $411,813
    From this org
    $376,278
    From related orgs
    $0
    Other
    $35,535
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $369,211
    Bonus
    $7,067
    Other
    not reported
    Deferred
    $3,951
    Nontaxable benefits
    $31,584
    Filer's total
    $411,813

  • James M Blue

    DIST OPS SUP

    Total calculated
    $216,544
    From this org
    $182,831
    From related orgs
    $0
    Other
    $33,713
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $177,812
    Bonus
    $5,019
    Other
    not reported
    Deferred
    $2,129
    Nontaxable benefits
    $31,584
    Filer's total
    $216,544

  • James E Etheridge

    SUPER. DIST

    Total calculated
    $358,011
    From this org
    $323,335
    From related orgs
    $0
    Other
    $34,676
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $317,256
    Bonus
    $6,079
    Other
    not reported
    Deferred
    $3,092
    Nontaxable benefits
    $31,584
    Filer's total
    $358,011

  • James Green

    MGR CUSTOMER

    Total calculated
    $390,314
    From this org
    $374,819
    From related orgs
    $0
    Other
    $15,495
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $368,038
    Bonus
    $6,781
    Other
    not reported
    Deferred
    $3,716
    Nontaxable benefits
    $11,779
    Filer's total
    $390,314

  • Jordan Overbee

    VP ENG & OPS

    Total calculated
    $214,384
    From this org
    $164,800
    From related orgs
    $0
    Other
    $49,584
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,825
    Bonus
    $5,975
    Other
    not reported
    Deferred
    $18,000
    Nontaxable benefits
    $31,584
    Filer's total
    $214,384

  • John E Johnson

    MGR OPERATIO

    Total calculated
    $351,132
    From this org
    $316,124
    From related orgs
    $0
    Other
    $35,008
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $309,672
    Bonus
    $6,452
    Other
    not reported
    Deferred
    $3,424
    Nontaxable benefits
    $31,584
    Filer's total
    $351,132

  • Paul Gore

    SUPER. DIST

    Total calculated
    $472,993
    From this org
    $438,404
    From related orgs
    $0
    Other
    $34,589
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $432,423
    Bonus
    $5,981
    Other
    not reported
    Deferred
    $3,005
    Nontaxable benefits
    $31,584
    Filer's total
    $472,993

  • Jeffrey Jackson

    MGR, INFO TE

    Total calculated
    $232,387
    From this org
    $197,607
    From related orgs
    $0
    Other
    $34,780
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $191,386
    Bonus
    $6,221
    Other
    not reported
    Deferred
    $3,196
    Nontaxable benefits
    $31,584
    Filer's total
    $232,387

  • Jason Hammond

    LINE SUPERVI

    Total calculated
    $291,293
    From this org
    $257,436
    From related orgs
    $0
    Other
    $33,857
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $252,279
    Bonus
    $5,157
    Other
    not reported
    Deferred
    $2,273
    Nontaxable benefits
    $31,584
    Filer's total
    $291,293

  • Calvin Long

    PROJ SUPERVI

    Total calculated
    $296,369
    From this org
    $268,467
    From related orgs
    $0
    Other
    $27,902
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $262,723
    Bonus
    $5,744
    Other
    not reported
    Deferred
    $2,720
    Nontaxable benefits
    $25,182
    Filer's total
    $296,369

  • James N Nance

    KEY ACCOUNTS

    Total calculated
    $253,338
    From this org
    $219,031
    From related orgs
    $0
    Other
    $34,307
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,368
    Bonus
    $5,663
    Other
    not reported
    Deferred
    $2,723
    Nontaxable benefits
    $31,584
    Filer's total
    $253,338

  • John Ward

    DIRECTOR

    Total calculated
    $50,938
    From this org
    $50,938
    From related orgs
    $0
    Other
    $0
    Hours/week
    8 + 2 related

  • Larry Fowler

    SECT./ TREAS

    Total calculated
    $53,643
    From this org
    $53,643
    From related orgs
    $0
    Other
    $0
    Hours/week
    8 + 2 related

  • David Gore

    PRESIDENT

    Total calculated
    $61,743
    From this org
    $61,743
    From related orgs
    $0
    Other
    $0
    Hours/week
    12 + 2 related

  • Frederick Tedder

    VICE PRESIDE

    Total calculated
    $37,589
    From this org
    $37,589
    From related orgs
    $0
    Other
    $0
    Hours/week
    9 + 2 related

  • Calvin Duncan

    ASST. SECT./

    Total calculated
    $38,485
    From this org
    $38,485
    From related orgs
    $0
    Other
    $0
    Hours/week
    7 + 2 related

  • Dan Strickland

    DIRECTOR

    Total calculated
    $53,643
    From this org
    $53,643
    From related orgs
    $0
    Other
    $0
    Hours/week
    9 + 5 related

  • Moses Herring

    DIRECTOR

    Total calculated
    $24,433
    From this org
    $24,433
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Deborah Ahlers

    DIRECTOR

    Total calculated
    $15,910
    From this org
    $15,910
    From related orgs
    $0
    Other
    $0
    Hours/week
    6 + 2 related

  • Perry Sellers

    DIRECTOR

    Total calculated
    $26,260
    From this org
    $26,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    9 + 2 related

  • Glenn Humbert

    DIRECTOR

    Total calculated
    $20,410
    From this org
    $20,410
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 2 related

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

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

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 -$60,521 · share of assets $1,086,555 · controlled entity

    Directly controlled by BRUNSWICK EMC

Provenance

Return type
form_990
Tax year
2022
Filed
14 August 2023
IRS schema version
2022v5.0
Source object
202312649349300441

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