Habersham Electric Membership Corp
- Assets
- $188.9m
- Revenue
- $77.0m
- Investments
- $0.0
- Employees
- 118
- Location
- Clarkesville, GA
- Founding
- 05/1942
- Data as of
- 12/2022
- EIN
- 58-0273635
Organization Overview
Habersham Electric Membership Corp is located in Clarkesville, 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 12/2022, Habersham Electric Membership Corp employed 118 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Habersham 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, Habersham Electric Membership Corp generated $77.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $79.8m during the year ending 12/2022. While expenses have increased by 2.2% per year over the past 7 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
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Ferguson Pres/ceo | Officer | 46 | $333,756 |
Kelly Wilkins Vp, Finance | 48 | $201,327 | |
Josh Allen VP Of Engine | 48 | $199,323 | |
Roger Thurmond Vp, Member R | 49 | $192,164 | |
Mark Leach Director Eng | 41 | $161,476 | |
Tony Adams Director Of | 47 | $144,348 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cable East Inc Fiber Service | 12/30/22 | $2,615,452 |
Utility Partners Of America Llc Construction | 12/30/22 | $1,878,107 |
Davey Tree Expert Company Right-of-way | 12/30/22 | $1,728,985 |
Denton Contracting Inc Fiber Install | 12/30/22 | $1,685,862 |
Eletricom Llc Fiber Service | 12/30/22 | $1,568,748 |
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 | $76,783,127 |
| Investment income | $179,348 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,974 |
| 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 | $76,985,449 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $585,054 |
| 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 | $891,333 |
| 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 | $3,414,982 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,466,654 |
| Insurance | $0 |
| All other expenses | $2,490,540 |
| Total functional expenses | $79,843,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,154,890 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,792,027 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $376,401 |
| Inventories for sale or use | $5,627,972 |
| Prepaid expenses and deferred charges | $2,977,948 |
| Net Land, buildings, and equipment | $138,456,611 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $28,788,317 |
| Intangible assets | $0 |
| Other assets | $3,775,013 |
| Total assets | $188,949,179 |
| Accounts payable and accrued expenses | $11,924,006 |
| 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 | $92,348,502 |
| Unsecured mortgages and notes payable | $12,096,021 |
| Other liabilities | $14,942,648 |
| Total liabilities | $131,311,177 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $799,485 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $56,838,517 |
| Total liabilities and net assets/fund balances | $188,949,179 |