Three Notch Electric Membership Corp
- Assets
- $110.4m
- Revenue
- $43.4m
- Investments
- $0.0
- Employees
- 56
- Location
- Donalsonville, GA
- Founding
- 11/1942
- Data as of
- 12/2023
- EIN
- 58-0462070
Organization Overview
Three Notch Electric Membership Corp is located in Donalsonville, 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, Three Notch Electric Membership Corp employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Three Notch 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, Three Notch Electric Membership Corp generated $43.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $42.7m during the year ending 12/2023. While expenses have increased by 2.6% per year over the past 9 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 MEMBERS PROMPT & EFFICIENT SERVICE & ELECTRICITY AT THE LOWEST POSSIBLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY TO APPROXIMATELY 8,275 COOPERATIVE MEMBERS LOCATED IN SOUTHWEST GEORGIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Earl Philip Buckhalter Director | Trustee | 5 | $12,121 |
Stacy T Cooper Director | Trustee | 5 | $30,095 |
Sam Hattaway Director | Trustee | 5 | $30,870 |
James Vann Hornsby Assistant Sec/treas | OfficerTrustee | 5 | $24,253 |
Kimbley Rentz Vice Chairman | OfficerTrustee | 5 | $6,766 |
Stephen J Holt Chairman | OfficerTrustee | 5 | $15,056 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
W A Kendall & Co Inc Right Of Way Clearing | 12/30/23 | $1,165,505 |
Sumter Utilities Inc Right Of Way Clearing | 12/30/23 | $973,276 |
W E Hicks Dba Trees Unlimited Right Of Way Clearing | 12/30/23 | $576,097 |
Caskin Development Llc Right Of Way Clearing | 12/30/23 | $426,750 |
The Davey Tree Expert Co Right Of Way Clearing | 12/30/23 | $100,704 |
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 | $41,839,313 |
| Investment income | $1,562,812 |
| 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 | $43,402,125 |
| 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 | $8,897,025 |
| Compensation of current officers, directors, key employees. | $377,276 |
| 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 | $2,007,495 |
| Payments to affiliates | $2,891,117 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,056,148 |
| Total functional expenses | $42,664,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,608,741 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,236,086 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $282,300 |
| Inventories for sale or use | $925,833 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $67,066,107 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $26,617,317 |
| Intangible assets | $0 |
| Other assets | $652,700 |
| Total assets | $110,389,084 |
| Accounts payable and accrued expenses | $3,015,031 |
| 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 | $45,580,418 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,698,390 |
| Total liabilities | $51,293,839 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $41,375 |
| Paid-in or capital surplus, or land, building, or equipment fund | $374,806 |
| Retained earnings, endowment, accumulated income, or other funds | $58,679,064 |
| Total liabilities and net assets/fund balances | $110,389,084 |