Ocmulgee Electric Membership Corp
- Assets
- $58.8m
- Revenue
- $23.6m
- Investments
- $0.0
- Employees
- 43
- Location
- Eastman, GA
- Founding
- 10/1942
- Data as of
- 12/2021
- EIN
- 58-0372515
Organization Overview
Ocmulgee Electric Membership Corp is located in Eastman, 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 12/2021, Ocmulgee Electric Membership Corp employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocmulgee 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 12/2021, Ocmulgee Electric Membership Corp generated $23.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $22.8m during the year ending 12/2021. While expenses have increased by 1.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RURAL ELECTRIC SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES ELECTRICAL SERVICE TO MEMBERS IN RURAL AREAS.
PROVIDES ELECTRICAL SERVICE TO MEMBERS IN RURAL AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wh Peacock General Mana | Officer | 40 | $133,643 |
Billy L Joiner Director | Trustee | $26,605 | |
Barry Martin President | OfficerTrustee | $24,732 | |
Charles M Pittman Sec. Tres. | OfficerTrustee | $14,849 | |
A Ray Lancaster Director | Trustee | $14,753 | |
Billy Hartley Director | Trustee | $14,581 |
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 | $23,580,966 |
| Investment income | $32,674 |
| 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 | $23,613,640 |
| 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 | $509,373 |
| Compensation of current officers, directors, key employees. | $346,023 |
| 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 | $217,650 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,694,580 |
| Insurance | $0 |
| All other expenses | $3,142,948 |
| Total functional expenses | $22,805,868 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $159,354 |
| Savings and temporary cash investments | $7,054,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,448,041 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $394,966 |
| Prepaid expenses and deferred charges | $273,807 |
| Net Land, buildings, and equipment | $42,063,191 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,322,922 |
| Intangible assets | $0 |
| Other assets | $1,035,860 |
| Total assets | $58,752,141 |
| Accounts payable and accrued expenses | $1,311,330 |
| 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 | $9,098,660 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,174,139 |
| Total liabilities | $16,584,129 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $39,550 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,105,625 |
| Retained earnings, endowment, accumulated income, or other funds | $41,022,837 |
| Total liabilities and net assets/fund balances | $58,752,141 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tideland Electric Membership Corp Pantego, NC | $155,003,665 | $49,716,262 |
South Alabama Electric Cooperative Troy, AL | $170,308,337 | $49,282,613 |
Tri-County Electric Membership Corp Gray, GA | $134,615,818 | $47,083,595 |
Green Power Emc Tucker, GA | $4,289,905 | $48,321,829 |
Washington Electric Membership Corp Sandersville, GA | $120,334,964 | $48,227,831 |
Pee Dee Electric Membership Corporation Wadesboro, NC | $143,974,115 | $47,288,455 |
Glades Electric Cooperative Inc Moore Haven, FL | $161,782,312 | $48,091,889 |
Haywood Electric Membership Corporation Waynesville, NC | $163,078,361 | $47,361,396 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
Excelsior Electric Membership Corporation Metter, GA | $119,361,267 | $45,904,608 |
Tri-County Electric Cooperative Inc St Matthews, SC | $138,986,472 | $45,784,852 |
Newberry Electric Cooperative Inc Newberry, SC | $94,155,817 | $45,705,196 |