Carroll Electric Membership Corp
- Assets
- $331.0m
- Revenue
- $141.7m
- Investments
- $0.0
- Employees
- 156
- Location
- Carrollton, GA
- Founding
- 08/1938
- Data as of
- 12/2023
- EIN
- 58-0184715
Organization Overview
Carroll Electric Membership Corp is located in Carrollton, GA. The organization was established in 1938. 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 12/2023, Carroll Electric Membership Corp employed 156 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carroll Electric Membership Corp 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 12/2023, Carroll Electric Membership Corp generated $141.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $141.7m during the year ending 12/2023. While expenses have increased by 2.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT THE LOWEST PRICE CONSISTENT WITH HIGH STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eddie Gore Chairman | OfficerTrustee | 15 | $52,144 |
Max Goldin Vice Chairma | OfficerTrustee | 20 | $71,810 |
Ronnie Jordan Secretary-Tr | OfficerTrustee | 14 | $61,460 |
Emmett Harrod Director | Trustee | 20 | $51,073 |
Nan Philpot Director | Trustee | 12 | $46,994 |
Donnie Brannon Director | Trustee | 15 | $51,560 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prosource Utility Contractors Llc Utility Service | 12/30/23 | $1,405,111 |
Cappstone Energy Group Llc Engineering | 12/30/23 | $1,092,083 |
Beach Timber Co Utility Service | 12/30/23 | $343,586 |
Sayers Technology Equipment | 12/30/23 | $310,297 |
Top Gun Application Services Row Clearing | 12/30/23 | $213,612 |
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 | $140,383,448 |
| Investment income | $1,137,158 |
| 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 | $141,687,883 |
| 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 | $24,510,761 |
| Compensation of current officers, directors, key employees. | $1,062,797 |
| 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 | $1,378,195 |
| 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 | $4,775,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,365,023 |
| Insurance | $0 |
| All other expenses | $3,531,821 |
| Total functional expenses | $141,687,883 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,256,869 |
| Savings and temporary cash investments | $7,935,547 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,366,411 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $509,471 |
| Inventories for sale or use | $2,918,243 |
| Prepaid expenses and deferred charges | $12,055,996 |
| Net Land, buildings, and equipment | $266,401,571 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,855,496 |
| Intangible assets | $0 |
| Other assets | $14,653,620 |
| Total assets | $330,953,224 |
| Accounts payable and accrued expenses | $15,791,276 |
| Grants payable | $0 |
| Deferred revenue | $2,000,000 |
| 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 | $157,851,921 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,055,789 |
| Total liabilities | $179,698,986 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,824,658 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $149,429,580 |
| Total liabilities and net assets/fund balances | $330,953,224 |