Halifax Electric Membership Corporation
- Assets
- $71.3m
- Revenue
- $27.6m
- Investments
- $0.0
- Employees
- 50
- Location
- Enfield, NC
- Founding
- 12/1966
- Data as of
- 12/2021
- EIN
- 56-0250191
Organization Overview
Halifax Electric Membership Corporation is located in Enfield, NC. The organization was established in 1966. 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 12/2021, Halifax Electric Membership Corporation employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Halifax 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 12/2021, Halifax Electric Membership Corporation generated $27.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $25.9m during the year ending 12/2021. While expenses have increased by 0.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 12,816,194 OTHER SALARIES AND WAGES 2,940,268 DEPRECIATION 2,868,190
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles H Guerry Exec Vp/gen | Officer | 40 | $242,841 |
Sanders P Cox Manager Of B | 40 | $125,646 | |
Wanda P Cooke Manager Of F | Officer | 40 | $110,485 |
Samuel Moseley Mgr Of Opera | 40 | $109,810 | |
Roger Chappell Line Superin | 45 | $105,974 | |
Basil D Williams President | OfficerTrustee | 1 | $12,452 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Xylem Tree Experts Clearing | 12/30/21 | $1,208,739 |
Booth & Associates Inc Engineering | 12/30/21 | $428,933 |
Sedc Billing | 12/30/21 | $308,275 |
Landisgyr Technology Services | 12/30/21 | $268,821 |
Lee Eletrical Construction Construction | 12/30/21 | $1,193,042 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $26,267,492 |
| Investment income | $59,147 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $73,477 |
| Net Gain/Loss on Asset Sales | $60,459 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,609,154 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,175,973 |
| Compensation of current officers, directors, key employees. | $623,979 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,940,268 |
| Pension plan accruals and contributions | $828,938 |
| Other employee benefits | $0 |
| Payroll taxes | $263,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,923 |
| 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 | $607,091 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,796 |
| Interest | $1,119,498 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,868,190 |
| Insurance | $0 |
| All other expenses | -$1,126,018 |
| Total functional expenses | $25,932,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $560,009 |
| Savings and temporary cash investments | $701,396 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,081,270 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,663,664 |
| Inventories for sale or use | $622,117 |
| Prepaid expenses and deferred charges | $58,308 |
| Net Land, buildings, and equipment | $56,792,116 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,831,204 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $71,310,084 |
| Accounts payable and accrued expenses | $2,281,590 |
| 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 | $42,185,218 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,131,766 |
| Total liabilities | $46,598,574 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $101,095 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $24,610,415 |
| Total liabilities and net assets/fund balances | $71,310,084 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Halifax Electric Membership Corporation has recieved totaling $6,651.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Richmond Richmond, VA PURPOSE: DONOR DIRECTS FUNDS(DESIGNATIONS) FOR ENERGY SHARE | $6,651 |
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 |