Colquitt Electric Membership Corp
- Assets
- $343.5m
- Revenue
- $169.7m
- Investments
- $0.0
- Employees
- 197
- Location
- Moultrie, GA
- Founding
- 01/1941
- Data as of
- 12/2022
- EIN
- 58-0201495
Organization Overview
Colquitt Electric Membership Corp is located in Moultrie, GA. The organization was established in 1941. 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, Colquitt Electric Membership Corp employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colquitt 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 12/2022, Colquitt Electric Membership Corp generated $169.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $169.2m during the year ending 12/2022. While expenses have increased by 2.7% 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
COLQUITT ELECTRIC MEMBERSHIP CORPORATION SELLS ELECTRICITY AND PROVIDES SERVICES TO MEMBER-OWNERS AS A RURAL ELECTRIC COOPERATIVE.
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 AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Nichols President/ce | Officer | 50 | $452,209 |
Douglas Loftis COO | 40 | $225,269 | |
Charles Tucker VP Of Engine | 40 | $199,072 | |
Brenda Aldridge CFO | 40 | $172,898 | |
Jeffery Patterson VP Informati | 40 | $158,867 | |
Gary A Branch Secretary/tr | OfficerTrustee | 3 | $31,672 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
S&s Contructors Construction | 12/30/22 | $1,681,828 |
Network Technology Solutions Llc Network Support | 12/30/22 | $190,482 |
Kents Janitorial Service Janitorial Serv | 12/30/22 | $176,366 |
Cunningham's Tree Service Right Of Way | 12/30/22 | $2,520,518 |
Gays Tire Service Tires & Repair | 12/30/22 | $106,456 |
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 | $169,665,001 |
| Investment income | $75,437 |
| 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 | $169,746,610 |
| 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 | $3,730,867 |
| Compensation of current officers, directors, key employees. | $818,210 |
| 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 | $1,011,269 |
| 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 | $4,854,707 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,541,110 |
| Insurance | $0 |
| All other expenses | $5,147,073 |
| Total functional expenses | $169,215,483 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,696,674 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,576,226 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,673,817 |
| Prepaid expenses and deferred charges | $558,154 |
| Net Land, buildings, and equipment | $242,046,172 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $50,740,622 |
| Intangible assets | $0 |
| Other assets | $19,177,394 |
| Total assets | $343,469,059 |
| Accounts payable and accrued expenses | $21,861,011 |
| 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 | $141,402,458 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,666,302 |
| Total liabilities | $187,929,771 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $294,245 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $155,245,043 |
| Total liabilities and net assets/fund balances | $343,469,059 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Lee County Electric Cooperative Inc North Fort Myers, FL | $850,449,864 | $497,387,726 |
Withlacoochee River Electric Cooperative Inc Dade City, FL | $1,217,179,383 | $476,736,829 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sumter Electric Cooperative Inc Sumterville, FL | $962,585,573 | $440,111,118 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Berkeley Electric Cooperative Inc Moncks Corner, SC | $676,271,341 | $408,085,738 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Clay Electric Cooperative Inc Keystone Heights, FL | $801,967,548 | $374,561,378 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |