Altamaha Electric Membership Corporation
- Assets
- $186.2m
- Revenue
- $61.5m
- Investments
- $0.0
- Employees
- 69
- Location
- Lyons, GA
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 58-0137655
Organization Overview
Altamaha Electric Membership Corporation is located in Lyons, GA. The organization was established in 1937. 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, Altamaha Electric Membership Corporation employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Altamaha Electric Membership Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2022, Altamaha Electric Membership Corporation generated $61.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $62.8m during the year ending 12/2022. While expenses have increased by 4.1% per year over the past 4 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
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Romanous Dotson Ceo/general | Officer | 50 | $208,765 |
George Mclendon Assistant Ma | 50 | $146,273 | |
Joshua Thigpen Electrical E | 50 | $138,417 | |
Ramona Dowd Mgr Accounti | 50 | $139,579 | |
Michael Woodcock Substation T | 50 | $107,943 | |
William Kennedy District Man | 50 | $110,197 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Knight Broadband Llc Fiber | 12/30/22 | $3,125,890 |
Trawick Construction Co Inc Fiber | 12/30/22 | $1,259,553 |
Akins And Sons Llc Right Of Way | 12/30/22 | $1,134,164 |
P-square Engineering Engineering | 12/30/22 | $831,451 |
Pike Enterprises Llc Electrical | 12/30/22 | $1,052,937 |
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 | $62,328,862 |
| Investment income | $157,757 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,459,109 |
| 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 | $1,843,567 |
| Compensation of current officers, directors, key employees. | $297,429 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,065,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,490,139 |
| Insurance | $0 |
| All other expenses | $1,866,528 |
| Total functional expenses | $62,845,700 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,105,325 |
| Savings and temporary cash investments | $10,593,932 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,535,829 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,000 |
| Inventories for sale or use | $7,380,058 |
| Prepaid expenses and deferred charges | $1,395,443 |
| Net Land, buildings, and equipment | $123,182,329 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $26,325,443 |
| Intangible assets | $0 |
| Other assets | $690,503 |
| Total assets | $186,209,862 |
| Accounts payable and accrued expenses | $5,541,223 |
| 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 | $81,873,292 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,119,266 |
| Total liabilities | $96,533,781 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $144,356 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $89,531,725 |
| Total liabilities and net assets/fund balances | $186,209,862 |