Excelsior Electric Membership Corporation
- Assets
- $137.7m
- Revenue
- $57.4m
- Investments
- $0.0
- Employees
- 68
- Location
- Metter, GA
- Founding
- 09/1942
- Data as of
- 12/2023
- EIN
- 58-0237855
Organization Overview
Excelsior Electric Membership Corporation is located in Metter, GA. The organization was established in 1942. 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, Excelsior Electric Membership Corporation employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Excelsior 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 12/2023, Excelsior Electric Membership Corporation generated $57.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $56.6m during the year ending 12/2023. While expenses have increased by 4.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE BEST IN SAFE, RELIABLE AND COST-EFFECTIVE SERVICE FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE BEST IN SAFE, RELIABLE AND COST-EFFECTIVE ELECTRIC SERVICE FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Proctor President/ce | Officer | 50 | $364,343 |
William A Walden Executive VP | 50 | $274,132 | |
James Porter VP Engineeri | 50 | $169,002 | |
Matthew Smith Constr. Crew | 50 | $143,997 | |
Jamey Donaldson Constr. Crew | 50 | $151,373 | |
Perry Durden Engineering | 50 | $137,571 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eager Beaver Stump And Tree Row Clearing | 12/30/23 | $386,567 |
Capstone Energy Group Engineering | 12/30/23 | $179,883 |
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 | $56,580,824 |
| Investment income | $778,868 |
| 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 | $57,359,692 |
| 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 | $2,086,239 |
| Compensation of current officers, directors, key employees. | $760,916 |
| 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 | $1,439,450 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,467,186 |
| Insurance | $0 |
| All other expenses | $2,052,291 |
| Total functional expenses | $56,571,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $992,227 |
| Savings and temporary cash investments | $18,205,200 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,680,666 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,145,041 |
| Prepaid expenses and deferred charges | $244,542 |
| Net Land, buildings, and equipment | $84,910,095 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $24,665,293 |
| Intangible assets | $0 |
| Other assets | $848,133 |
| Total assets | $137,691,197 |
| Accounts payable and accrued expenses | $6,116,544 |
| 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 | $43,761,594 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,741,601 |
| Total liabilities | $69,619,739 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $426,387 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $67,645,071 |
| Total liabilities and net assets/fund balances | $137,691,197 |