Oconee Electric Membership Corp
- Assets
- $88.6m
- Revenue
- $36.8m
- Investments
- $0.0
- Employees
- 44
- Location
- Dudley, GA
- Founding
- 03/1959
- Data as of
- 12/2023
- EIN
- 58-0372535
Organization Overview
Oconee Electric Membership Corp is located in Dudley, GA. The organization was established in 1959. 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, Oconee Electric Membership Corp employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oconee 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 12/2023, Oconee Electric Membership Corp generated $36.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $36.5m during the year ending 12/2023. While expenses have increased by 1.9% 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 ELECTRIC SERVICE TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC SERVICE TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juanita F Austin Director/asst Sec/treas | OfficerTrustee | 2 | $9,040 |
Amy S Orr Director/chair | OfficerTrustee | 2 | $8,222 |
Charles B Grace Director/vice Chair - Deceased | OfficerTrustee | 2 | $3,829 |
James H Davis Director/secretary/treas | OfficerTrustee | 2 | $7,468 |
H David Green Director | Trustee | 2 | $7,919 |
Dennis W Holder Sr Director | Trustee | 2 | $7,207 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pike Electric Llc Line Construction System Improvements | 12/30/23 | $888,565 |
Cappstone Energy Group Llc Engineering Consultant | 12/30/23 | $209,512 |
Helena Agricultural Enterprises Llc Right Of Way Spraying | 12/30/23 | $110,128 |
Gunnison Acquisition Holding Right Of Way Tree Removal | 12/30/23 | $1,540,641 |
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 | $36,437,323 |
| Investment income | $25,170 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $317,242 |
| 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 | $36,779,735 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,650 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,323,283 |
| Compensation of current officers, directors, key employees. | $541,934 |
| 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 | $12,874 |
| Fees for services: Accounting | $35,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $34,017 |
| Office expenses | $176,724 |
| 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 | $1,848,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,535,956 |
| Insurance | $0 |
| All other expenses | $1,192,924 |
| Total functional expenses | $36,523,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $914,075 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,443,575 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,117,742 |
| Prepaid expenses and deferred charges | $260,298 |
| Net Land, buildings, and equipment | $62,660,053 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $18,538,427 |
| Intangible assets | $0 |
| Other assets | $2,691,369 |
| Total assets | $88,625,539 |
| Accounts payable and accrued expenses | $7,124,618 |
| 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 | $34,085,421 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,845,528 |
| Total liabilities | $50,055,567 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $68,675 |
| Paid-in or capital surplus, or land, building, or equipment fund | $917 |
| Retained earnings, endowment, accumulated income, or other funds | $38,500,380 |
| Total liabilities and net assets/fund balances | $88,625,539 |