Coastal Electric Membership Corp
- Assets
- $162.8m
- Revenue
- $66.8m
- Investments
- $0.0
- Employees
- 108
- Location
- Midway, GA
- Founding
- 03/1943
- Data as of
- 12/2023
- EIN
- 58-0197945
Organization Overview
Coastal Electric Membership Corp, operating under the name Attn Emily S Cannon, is located in Midway, GA. The organization was established in 1943. 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, Attn Emily S Cannon employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Attn Emily S Cannon 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, Attn Emily S Cannon generated $66.8m 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 $66.8m 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
TO MEET OR EXCEED MEMBER-OWNER'S EXPECTATIONS BY BEING AN OUTSTANDING PROVIDER OF ENERGY SERVICES.
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 |
|---|---|---|---|
John T Woods III President | OfficerTrustee | 11 | $32,394 |
Reagan Odom Vice-Preside | Trustee | 7 | $35,340 |
Laura Mcgee Secretary-Tr | OfficerTrustee | 6 | $18,732 |
Kyle Christiansen Director | Trustee | 3 | $9,432 |
Holly Fields Director | Trustee | 5 | $18,611 |
Charles Gaskin Director | Trustee | 2 | $13,382 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Osmose Inc Construction | 12/30/23 | $141,863 |
Kennedy Broadband Llc Fiber | 12/30/23 | $3,405,548 |
Leefield Logistics Llc Construction | 12/30/23 | $756,642 |
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 | $66,694,775 |
| Investment income | $42,424 |
| 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 | $66,759,109 |
| 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 | $6,843,857 |
| Compensation of current officers, directors, key employees. | $601,442 |
| 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 | $2,797,102 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,145,615 |
| Insurance | $0 |
| All other expenses | $3,306,255 |
| Total functional expenses | $66,759,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,040,967 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,702,468 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,940,306 |
| Prepaid expenses and deferred charges | $671,823 |
| Net Land, buildings, and equipment | $129,109,193 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $18,363,209 |
| Intangible assets | $0 |
| Other assets | -$1,715 |
| Total assets | $162,826,251 |
| Accounts payable and accrued expenses | $8,963,435 |
| 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 | $84,629,790 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,914,215 |
| Total liabilities | $99,507,440 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $98,310 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $63,220,501 |
| Total liabilities and net assets/fund balances | $162,826,251 |