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Nonprofiteer
← HAYWOOD ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2025

Filed by HAYWOOD ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$58,379,009
Total expenses
$58,252,324
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$58,348,657
Investment income
$30,352
Other revenue
$0
Total assets, end of year
$190,513,396
Total liabilities, end of year
$123,513,287
Net assets or fund balances, end of year
$67,000,109
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: PROGRAM SERVICE REVENUE

    total $57,480,746 · related or exempt $57,480,746

  • 2b · Program service revenue: POLE RENTAL INCOME

    total $606,297 · excluded $606,297

  • 2c · Program service revenue: PATRONAGE CAPITAL

    total $261,614 · related or exempt $261,614

  • 3 · Investment income

    total $30,352 · excluded $30,352

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,788,928

  • 5 · Compensation of officers, directors and key employees

    total $675,653

  • 20 · Interest

    total $4,414,054

  • 22 · Depreciation, depletion and amortization

    total $6,769,360

  • 24a · Other expenses: PURCHASED POWER

    total $24,886,246

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $7,395,424

  • 24c · Other expenses: ADMIN & GENERAL

    total $4,148,223

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $3,232,148

  • 24e · All other expenses

    total $2,942,288

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,075,410 · end of year $2,341,252

  • 2 · Savings and temporary cash investments

    beginning of year $41,123 · end of year $1,278,981

  • 4 · Accounts receivable

    beginning of year $5,333,911 · end of year $7,254,562

  • 7 · Other notes and loans receivable

    beginning of year $481,427 · end of year $433,709

  • 8 · Inventories for sale or use

    beginning of year $2,064,796 · end of year $2,397,215

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,193,815 · end of year $3,049,046

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

    $235,830,382

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

    $67,601,137

  • 10c · Land, buildings and equipment, net

    beginning of year $159,272,050 · end of year $168,229,245

  • 13 · Investments: program-related

    beginning of year $5,351,491 · end of year $5,521,335

  • 15 · Other assets

    beginning of year $7,522 · end of year $8,051

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,816,846 · end of year $7,116,498

  • 23 · Secured mortgages and notes payable

    beginning of year $103,897,273 · end of year $114,163,841

  • 25 · Other liabilities

    beginning of year $4,164,123 · end of year $2,232,948

  • 31 · Retained earnings, endowment or other funds

    beginning of year $63,943,303 · end of year $67,000,109

Mission and programs · 2025

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.

  • 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.

As filed on the 2025 return.

Listed in Part VII

  • Thomas H Batchelor Jr

    EXEC. VP/CEO

    Total calculated
    $466,940
    From this org
    $398,589
    From related orgs
    $0
    Other
    $68,351
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $338,728
    Bonus
    $38,367
    Other
    $21,494
    Deferred
    $52,633
    Nontaxable benefits
    $15,718
    Filer's total
    $466,940

  • John Boate

    ASSISTANT GM

    Total calculated
    $231,529
    From this org
    $201,047
    From related orgs
    $0
    Other
    $30,482
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,101
    Bonus
    not reported
    Other
    $5,946
    Deferred
    $16,169
    Nontaxable benefits
    $14,313
    Filer's total
    $231,529

  • John Raines

    TEAM LEADER

    Total calculated
    $175,387
    From this org
    $137,243
    From related orgs
    $0
    Other
    $38,144
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,781
    Bonus
    not reported
    Other
    $5,462
    Deferred
    $17,319
    Nontaxable benefits
    $20,825
    Filer's total
    $175,387

  • John Carver

    TEAM LEADER

    Total calculated
    $174,583
    From this org
    $152,416
    From related orgs
    $0
    Other
    $22,167
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,025
    Bonus
    not reported
    Other
    $1,391
    Deferred
    $8,691
    Nontaxable benefits
    $13,476
    Filer's total
    $174,583

  • Joshua Deaver

    COO

    Total calculated
    $172,519
    From this org
    $146,074
    From related orgs
    $0
    Other
    $26,445
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,047
    Bonus
    not reported
    Other
    $2,027
    Deferred
    $12,155
    Nontaxable benefits
    $14,290
    Filer's total
    $172,519

  • Scottie Messer

    SEN. JOURNEY

    Total calculated
    $161,012
    From this org
    $140,450
    From related orgs
    $0
    Other
    $20,562
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,404
    Bonus
    not reported
    Other
    $22,046
    Deferred
    not reported
    Nontaxable benefits
    $20,562
    Filer's total
    $161,012

  • Lucas Sorrells

    PRESIDENT

    Total calculated
    $64,372
    From this org
    $43,972
    From related orgs
    $0
    Other
    $20,400
    Hours/week
    8

  • Alan Israel

    VICE PRESIDE

    Total calculated
    $34,662
    From this org
    $11,162
    From related orgs
    $0
    Other
    $23,500
    Hours/week
    8

  • Clay Talley

    SEC./TREASUR

    Total calculated
    $26,942
    From this org
    $26,942
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Thomas Chip Webb

    DIRECTOR

    Total calculated
    $26,122
    From this org
    $26,122
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Noland

    ASST. SEC./T

    Total calculated
    $23,622
    From this org
    $17,622
    From related orgs
    $0
    Other
    $6,000
    Hours/week
    2

  • Lewis Clark

    DIRECTOR

    Total calculated
    $21,089
    From this org
    $21,089
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jaqueline Hatch

    DIRECTOR

    Total calculated
    $11,904
    From this org
    $11,904
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · 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 corporations and trusts

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

  • HAYWOOD SERVICES CORPORATION INC

    C CORP · ELECTRICAL · NC · 100% owned · share of income $59,350 · share of assets $10,186

    Directly controlled by HAYWOOD EMC

Provenance

Return type
form_990
Tax year
2025
Filed
24 September 2026
IRS schema version
2025v4.0
Source object
202642679349300419

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