Pee Dee Electric Membership Corporation
- Assets
- $144.0m
- Revenue
- $47.3m
- Investments
- $0.0
- Employees
- 70
- Location
- Wadesboro, NC
- Founding
- 03/1961
- Data as of
- 12/2020
- EIN
- 56-0123345
Organization Overview
Pee Dee Electric Membership Corporation is located in Wadesboro, NC. The organization was established in 1961. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2020, Pee Dee Electric Membership Corporation employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pee Dee Electric Membership Corporation is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2020, Pee Dee Electric Membership Corporation generated $47.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $47.9m during the year ending 12/2020. While expenses have increased by 0.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Pee Dee Electric Membership Corporation has awarded 47 individual grants totaling $349,550. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF PDEMC
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF PDEMC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 27,407,347 OTHER SALARIES AND WAGES 4,958,688 DEPRECIATION AND AMORTIZATION 4,836,053
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald H Spivey CEO & Exec. | Officer | 40 | $239,079 |
Anthony Eason VP Eng. & Op | Officer | 40 | $137,700 |
Phillip Mabry CFO | Officer | 40 | $122,576 |
Chris Baxley Lineman Firs | 40 | $122,197 | |
David Burr District Mgr | 40 | $119,721 | |
Jake Mcgee District Mgr | 40 | $111,452 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lee Electrical Construction Construction | 12/30/20 | $998,584 |
Cooperative Building Solutions Construction | 12/30/20 | $5,161,983 |
Xylem Right Of Way | 12/30/20 | $1,348,547 |
Carolina Power Construction | 12/30/20 | $638,027 |
Southeastern Data Coop Inc Comp. Software | 12/30/20 | $504,079 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $133,356 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $133,356 |
| Total Program Service Revenue | $46,004,209 |
| Investment income | $386,520 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $221,872 |
| Net Gain/Loss on Asset Sales | $9,729 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,288,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $126,756 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,389,797 |
| Compensation of current officers, directors, key employees. | $837,941 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,958,688 |
| Pension plan accruals and contributions | $877,176 |
| Other employee benefits | $400,356 |
| Payroll taxes | $436,644 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,849 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $959,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $93,958 |
| Interest | $1,557,723 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,836,053 |
| Insurance | $0 |
| All other expenses | -$3,466,819 |
| Total functional expenses | $47,923,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,577,343 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,588,654 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,906,372 |
| Prepaid expenses and deferred charges | $484,944 |
| Net Land, buildings, and equipment | $105,879,799 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $11,517,407 |
| Intangible assets | $0 |
| Other assets | $8,019,596 |
| Total assets | $143,974,115 |
| Accounts payable and accrued expenses | $5,828,890 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $58,821,245 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,571,165 |
| Total liabilities | $77,221,300 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $66,752,815 |
| Total liabilities and net assets/fund balances | $143,974,115 |
Grants Awarded
Over the last fiscal year, Pee Dee Electric Membership Corporation has awarded $60,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Marshville, NC PURPOSE: EQUIPMENT PURCHASE | $7,500 |
Rockingham, NC PURPOSE: EQUIPMENT PURCHASE | $7,500 |
LILESVILLE FD PURPOSE: EQUIPMENT PURCHASE | $7,500 |
Hamlet, NC PURPOSE: EQUIPMENT PURCHASE | $7,500 |
Laurel Hill, NC PURPOSE: EQUIPMENT PURCHASE | $7,500 |
Rockingham, NC PURPOSE: EQUIPMENT PURCHASE | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pee Dee Electric Membership Corporation has recieved totaling $5,266.
| Awarding Organization | Amount |
|---|---|
North Carolina Electric Membership Corporation Raleigh, NC PURPOSE: EDUCATIONAL ASSISTANCE | $5,266 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Satilla Rural Electric Membership Corp Alma, GA | $268,716,625 | $122,190,964 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Diverse Power Incorporated Lagrange, GA | $239,882,222 | $117,829,336 |
Aiken Electric Cooperative Inc Aiken, SC | $337,192,184 | $117,100,131 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Blue Ridge Mountain Electric Membership Corp 101-10 Irc Young Harris, GA | $245,553,260 | $112,097,199 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
South River Electric Membership Corporation Dunn, NC | $271,179,808 | $105,392,697 |
Central Virginia Electric Cooperative Lovingston, VA | $375,858,912 | $102,220,456 |
Wake Electric Membership Corp Wake Forest, NC | $280,486,920 | $101,861,632 |
Amicalola Electric Membership Corp Jasper, GA | $201,848,786 | $100,500,156 |