Walton Emc
- Assets
- $639.1m
- Revenue
- $395.5m
- Investments
- $0.0
- Employees
- 287
- Location
- Monroe, GA
- Founding
- 08/1938
- Data as of
- 12/2023
- EIN
- 58-0477163
Organization Overview
Walton Emc is located in Monroe, GA. The organization was established in 1938. 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, Walton Emc employed 287 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walton Emc 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, Walton Emc generated $395.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $395.5m during the year ending 12/2023. While expenses have increased by 5.5% 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 THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM'S AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Taylor Chairman | OfficerTrustee | 5 | $28,886 |
Michael Q Lowder Vice Chairma | OfficerTrustee | 5 | $29,200 |
Billy Ray Allen Sec-Treasure | OfficerTrustee | 5 | $28,266 |
Daniel J Chelko Director | Trustee | 5 | $20,716 |
Sammy Simonton Director | Trustee | 5 | $28,216 |
Thomas H Adcock Jr Director | Trustee | 5 | $27,616 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Autry Hall & Cook Llp Legal | 12/30/22 | $309,807 |
Mcnair Mclemore Middlebrooks & Co Llc Accounting Serv | 12/30/22 | $147,070 |
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 | $392,326,605 |
| Investment income | $791,280 |
| 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 | $395,538,453 |
| 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 | $44,509,380 |
| Compensation of current officers, directors, key employees. | $1,566,553 |
| 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 | $359,518 |
| 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 | $7,298,073 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,325,291 |
| Insurance | $0 |
| All other expenses | $9,712,044 |
| Total functional expenses | $395,538,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,487,239 |
| Savings and temporary cash investments | $37,314,688 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,295,516 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,404 |
| Inventories for sale or use | $5,996,172 |
| Prepaid expenses and deferred charges | $25,419,666 |
| Net Land, buildings, and equipment | $338,282,010 |
| Investments—publicly traded securities | $40,487,224 |
| Investments—other securities | $0 |
| Investments—program-related | $146,798,952 |
| Intangible assets | $0 |
| Other assets | $38,666 |
| Total assets | $639,137,537 |
| Accounts payable and accrued expenses | $72,621,958 |
| 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 | $174,246,111 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $128,815,267 |
| Total liabilities | $375,683,336 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $948,550 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $262,505,651 |
| Total liabilities and net assets/fund balances | $639,137,537 |