Upper Cumberland Electric Membership Corporation
- Assets
- $208.9m
- Revenue
- $121.9m
- Investments
- $1.2m
- Employees
- 131
- Location
- Carthage, TN
- Founding
- 03/2018
- Data as of
- 06/2022
- EIN
- 62-0393118
Organization Overview
Upper Cumberland Electric Membership Corporation is located in Carthage, TN. The organization was established in 2018. 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 06/2022, Upper Cumberland Electric Membership Corporation employed 131 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upper Cumberland Electric Membership Corporation 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 06/2022, Upper Cumberland Electric Membership Corporation generated $121.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $118.7m during the year ending 06/2022. While expenses have increased by 1.2% 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
RURAL ELECTRICITY DISTRIBUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRICITY DISTRIBUTION TO 52,270 MEMBERS LOCATED IN CLAY, DEKALB, FENTRESS, JACKSON, MACON, OVERTON, PICKETT, PUTNAM, SMITH, WHITE, AND WILSON COUNTIES IN TENNESSEE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Brogdon General Mana | Officer | 50 | $275,283 |
Robert Poteet Serviceman | 62 | $153,544 | |
Wayne Anderson Dir Of Engin | 42 | $125,746 | |
Tammie Key Assist Gener | 50 | $125,471 | |
Jeffery Myers Journeyman L | 52 | $124,814 | |
Johnny Rigsby Line Foreman | 47 | $121,520 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
W A Kendall & Company Llc Row Clearing | 6/29/22 | $3,806,228 |
Mid-state Construction Inc Construction | 6/29/22 | $3,108,253 |
Garnett Electric Co Inc Construction | 6/29/22 | $932,969 |
Broadway Electric Service Co Construction | 6/29/22 | $640,151 |
Xylem Incxylem Tree Experts Row Clearing | 6/29/22 | $583,674 |
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 | $121,487,700 |
| Investment income | $377,379 |
| 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 | $121,895,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $777,897 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,764,490 |
| Pension plan accruals and contributions | $489,384 |
| Other employee benefits | $2,145,400 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63,531 |
| Fees for services: Accounting | $12,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $179,401 |
| Advertising and promotion | $54,416 |
| 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 | $129,648 |
| Interest | $852,981 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,039,613 |
| Insurance | $157,485 |
| All other expenses | $2,486,877 |
| Total functional expenses | $118,729,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,255,353 |
| Savings and temporary cash investments | $15,805,556 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,632,443 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,176,499 |
| Prepaid expenses and deferred charges | $2,002,485 |
| Net Land, buildings, and equipment | $162,720,077 |
| Investments—publicly traded securities | $10,030,136 |
| Investments—other securities | $1,197,019 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,092,350 |
| Total assets | $208,911,918 |
| Accounts payable and accrued expenses | $62,349,595 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $17,968,699 |
| Other liabilities | $6,905,853 |
| Total liabilities | $87,224,147 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $213,380 |
| Retained earnings, endowment, accumulated income, or other funds | $121,474,391 |
| Total liabilities and net assets/fund balances | $208,911,918 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |