Upper Cumberland Electric Membership Corporation
- Assets
- $206.7m
- Revenue
- $129.8m
- Investments
- $1.2m
- Employees
- 130
- Location
- Carthage, TN
- Founding
- 03/2018
- Data as of
- 06/2023
- 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 06/2023, Upper Cumberland Electric Membership Corporation employed 130 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 06/2023, Upper Cumberland Electric Membership Corporation generated $129.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $131.5m during the year ending 06/2023. While expenses have increased by 2.8% per year over the past 5 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
RURAL ELECTRICITY DISTRIBUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRICITY DISTRIBUTION TO 52,978 MEMBERS LOCATED IN CLAY, DEKALB, FENTRESS, JACKSON, MACON, OVERTON, PICKETT, PUTNAM, SMITH, WHITE, AND WILSON COUNTIES IN TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morris Tyree II President | OfficerTrustee | 10 | $31,340 |
Jim Brown Vice Preside | OfficerTrustee | 3.6 | $25,751 |
Alan Pippin Secretary/tr | OfficerTrustee | 8 | $32,240 |
James West Assist. Secr | OfficerTrustee | 5.77 | $27,972 |
Bradley West Director | Trustee | 7 | $17,400 |
Tim Sells Director | Trustee | 6.67 | $27,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mid-state Construction Inc Construction | 6/29/23 | $5,064,118 |
W A Kendall & Company Llc Row Clearing | 6/29/23 | $2,458,902 |
Broadway Electric Service Co Construction | 6/29/23 | $2,233,434 |
Xylem Incxylem Tree Experts Row Clearing | 6/29/23 | $1,605,850 |
Electricom Llc Row Clearing | 6/29/23 | $1,017,400 |
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 | $129,316,037 |
| Investment income | $442,027 |
| 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 | $129,809,494 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,000 |
| 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. | $711,588 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,700,427 |
| Pension plan accruals and contributions | $541,371 |
| Other employee benefits | $2,336,587 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100,133 |
| Fees for services: Accounting | $25,115 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $295,100 |
| Advertising and promotion | $46,278 |
| 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 | $148,663 |
| Interest | $892,475 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,428,136 |
| Insurance | $184,471 |
| All other expenses | $2,519,386 |
| Total functional expenses | $131,518,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,455,507 |
| Savings and temporary cash investments | $11,013,813 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,332,831 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,786,976 |
| Prepaid expenses and deferred charges | $2,133,505 |
| Net Land, buildings, and equipment | $172,819,027 |
| Investments—publicly traded securities | $328,924 |
| Investments—other securities | $1,197,019 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,627,646 |
| Total assets | $206,695,248 |
| Accounts payable and accrued expenses | $59,657,391 |
| 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 | $20,445,446 |
| Other liabilities | $6,919,842 |
| Total liabilities | $87,022,679 |
| 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 | $215,795 |
| Retained earnings, endowment, accumulated income, or other funds | $119,456,774 |
| Total liabilities and net assets/fund balances | $206,695,248 |