Jones-Onslow Electric Membership Corporation
- Assets
- $364.0m
- Revenue
- $152.6m
- Investments
- $1.1m
- Employees
- 188
- Location
- Jacksonville, NC
- Founding
- 12/1966
- Data as of
- 12/2022
- EIN
- 56-0283268
Organization Overview
Jones-Onslow Electric Membership Corporation is located in Jacksonville, 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 12/2022, Jones-Onslow Electric Membership Corporation employed 188 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jones-Onslow 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 12/2022, Jones-Onslow Electric Membership Corporation generated $152.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $149.5m during the year ending 12/2022. While expenses have increased by 1.4% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF JOEMC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE PROVIDING ELECTRIC SERVICES TO APPROXIMATELY 75,000 MEMBERS. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 98,488,447 OTHER SALARIES AND WAGES 13,626,842 DEPRECIATION 13,220,964
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Pritchard Cueo | Officer | 50 | $698,160 |
Jeffery T Clark CEO | Officer | 50 | $605,866 |
Andrea Avery VP Hr | Officer | 40 | $186,315 |
Michelle Hefner VP Fin & Acc | Officer | 50 | $218,400 |
Jeff Allen VP Operation | Officer | 40 | $191,954 |
Wanda Jones VP Commercia | Officer | 50 | $217,798 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davey Tree Expert Company Right Of Way | 12/30/22 | $1,521,009 |
Datawatt Solutions Inc Fiber Work | 12/30/22 | $1,278,378 |
Meridian Cooperative Inc Software | 12/30/22 | $1,102,159 |
Southdata Inc Printing | 12/30/22 | $738,327 |
River City Construction Inc Contract Crews | 12/30/22 | $655,935 |
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 | $152,163,171 |
| Investment income | $182,913 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $266,605 |
| Net Gain/Loss on Asset Sales | $18,545 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $152,637,282 |
| 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 | $4,224,965 |
| Compensation of current officers, directors, key employees. | $3,447,019 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,626,842 |
| Pension plan accruals and contributions | $2,484,483 |
| Other employee benefits | $514,415 |
| Payroll taxes | $1,362,907 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $67,136 |
| 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 | $3,103,751 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $255,813 |
| Interest | $4,832,107 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,220,964 |
| Insurance | $0 |
| All other expenses | -$7,568,745 |
| Total functional expenses | $149,511,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,742,761 |
| Savings and temporary cash investments | $1,372,882 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,235,737 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $852,917 |
| Inventories for sale or use | $3,869,637 |
| Prepaid expenses and deferred charges | $2,096,734 |
| Net Land, buildings, and equipment | $286,793,431 |
| Investments—publicly traded securities | $2,057,052 |
| Investments—other securities | $1,071,346 |
| Investments—program-related | $43,496,012 |
| Intangible assets | $0 |
| Other assets | $435,753 |
| Total assets | $364,024,262 |
| Accounts payable and accrued expenses | $17,598,005 |
| 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 | $145,219,593 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,070,123 |
| Total liabilities | $187,887,721 |
| 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 | $176,136,541 |
| Total liabilities and net assets/fund balances | $364,024,262 |