Valley Electric Membership Corporation
- Assets
- $15.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Shreveport, LA
- Founding
- 12/1937
- Data as of
- 12/2023
- EIN
- 72-0341915
Organization Overview
Valley Electric Membership Corporation is located in Shreveport, LA. The organization was established in 1937. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley 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 12/2023, Valley Electric Membership Corporation generated $32.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (58.2%) each year. All expenses for the organization totaled $4.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
SOLD ELECTRICITY TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Lambert Director | 1 | $0 | |
Jo Nell Campbell Director | 1 | $0 | |
Walter Meshell Jr Director | 1 | $0 | |
Therman Nash Director | 1 | $0 | |
Johnny Possoit Chairman | 1 | $0 | |
Charlotte Brown Sec/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $32 |
| Total Revenue | $32 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $4,000 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $150 |
| Total expenses | $4,150 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $15,318 |
| Other assets | $0 |
| Total assets | $15,318 |
| Total liabilities | $0 |
| Net assets or fund balances | $15,318 |
Grants Awarded
Over the last fiscal year, Valley Electric Membership Corporation has awarded $175,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHWESTERN STATE FOUNDATION PURPOSE: VEMCO FIRST GENERATION ENDOWED SCHOLARSHIP | $60,000 |
NORTHWESTERN STATE FOUNDATION PURPOSE: VEMCO ENDOWED PROFESSORSHIP | $60,000 |
NORTHWESTERN STATE FOUNDATION PURPOSE: COLUMNS FUND - ACADEMIC SUPPORT | $55,000 |