ALBEMARLE ELECTRIC MEMBERSHIP CORP

Address
PO BOX 69
HERTFORD, NC 279440069
Contact
Website: http://www.aemc.coop
Phone: +1 (252) 426-5735
Nonprofit
NTEE: W80 - Public Utilities
EIN: 56-0475840

Mission

ALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE.
 20172016201520142013
Basic features of the organization
Year of formation1945
Subsection code12
PF filing required0    
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$385,127.00$383,114.00   
Sum of reportable (W2/1099) compensation$516,713.00$407,578.00   
Number of employees3839   
Number of people compensated >$100k32   
Personnel
Bateman, Thomas
TitleDIRECTORDIRECTOR   
Name of key/compensated personTHOMAS BATEMANTHOMAS BATEMAN   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.361.42   
Reportable compensation from org$10,802.00$9,902.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Carey, Glenn
TitleVICE PRESIDEVICE PRESIDE   
Name of key/compensated personGLENN CAREYGLENN CAREY   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.501.54   
Reportable compensation from org$10,304.00$10,804.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Finch-Copeland, Thelma
TitleSECRETARYSECRETARY   
Name of key/compensated personTHELMA FINCH-COPELANDTHELMA FINCH-COPELAND   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.421.88   
Reportable compensation from org$10,306.00$11,006.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Heath, Kevin
TitleMGR ENGINEER    
Name of key/compensated personKEVIN HEATH    
Position of compensated person
Average hours per week working for org50.00    
Reportable compensation from org$110,319.00    
Other comp, non-reportable, from org and related orgs$39,233.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Jr, la Harris
TitleDIRECTORDIRECTOR   
Name of key/compensated personLA HARRIS JRLA HARRIS JR   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.392.34   
Reportable compensation from org$10,804.00$11,404.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Mathews, Charles
Title DIRECTOR-FOR   
Name of key/compensated person CHARLES H MATHEWS   
Position of compensated person
Current individual trustee or director True   
Average hours per week working for org 3.54   
Reportable compensation from org $9,505.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Mathews, T
TitleDIRECTORDIRECTOR   
Name of key/compensated personT CHAD MATHEWST CHAD MATHEWS   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.231.54   
Reportable compensation from org$11,006.00$2,701.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Meiggs, Garry
TitleDIRECTORDIRECTOR   
Name of key/compensated personGARRY MEIGGSGARRY MEIGGS   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.443.35   
Reportable compensation from org$11,406.00$11,806.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Parks, Glenn
TitleMGR OPERATIOMGR OPERATIO   
Name of key/compensated personGLENN PARKSGLENN PARKS   
Position of compensated person
Average hours per week working for org50.0050.00   
Reportable compensation from org$102,727.00$101,334.00   
Other comp, non-reportable, from org and related orgs$51,907.00$49,827.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Ray, Gary
TitleEXEC VP/GMEXEC VP/GM   
Name of key/compensated personGARY W RAYGARY W RAY   
Position of compensated person
Average hours per week working for org50.0050.00   
Reportable compensation from org$203,674.00$202,651.00   
Other comp, non-reportable, from org and related orgs$81,460.00$76,870.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Spence, John
TitlePRESIDENTPRESIDENT   
Name of key/compensated personJOHN W SPENCEJOHN W SPENCE   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org4.597.16   
Reportable compensation from org$13,656.00$14,656.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Webb, Josiah
TitleDIRECTORDIRECTOR   
Name of key/compensated personJOSIAH A WEBB IIIJOSIAH A WEBB III   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.341.42   
Reportable compensation from org$10,806.00$11,006.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Whitehurst, Virgie
TitleTREASURERTREASURER   
Name of key/compensated personVIRGIE P WHITEHURSTVIRGIE P WHITEHURST   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org2.023.15   
Reportable compensation from org$10,903.00$10,803.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Purpose: mission, activities, & accomplishments
Mission or significant activitiesALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE.ALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE.   
Programs, including revenue & expenses
ALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE.
Program descriptionALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE.ALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE.   
Financial data
Revenue
Total revenue$27,894,645.00$27,834,533.00   
Revenue from contributions (total)  $0.00$0.00$0.00
Investment income, current yr$174,226.00$143,040.00   
Total revenue from grants, etc., current yr$0.00$0.00   
Total unrelated business revenue$0.00$0.00   
Other revenue, current yr$0.00$0.00   
Program service revenue (total)$27,720,419.00$27,691,493.00$29,149,436.00$28,863,283.00$28,142,777.00
Gross receipts$27,894,645.00$27,834,533.00   
Other types of revenue
Income from dividends, interest, and similar investments$174,226.00$143,040.00   
Net rental income  $0.00$0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$27,894,645.00$27,834,533.00   
Total functional expenses: program service $0.00$0.00   
Total functional expenses: management and general$0.00$0.00   
Total functional expenses: fundraising$0.00$0.00   
Fees for services
Fundraising service fees (total)$0.00$0.00   
Assets and liabilities
Total assets$80,755,987.00$80,428,763.00$78,493,118.00$76,955,258.00$75,826,883.00
Total assets, beginning of year$80,428,763.00$78,493,118.00   
Total liabilities$52,272,910.00$53,717,160.00$52,900,992.00$52,789,137.00$53,136,767.00
Total liabilities, beginning of year$53,717,160.00$52,900,992.00   
Net assets$28,483,077.00$26,711,603.00   
Net assets, beginning of year$26,711,603.00$25,592,126.00   
Other liabilities$6,772,144.00$7,123,606.00   
Other assets$3,801.00$14,654.00   
Cash: non-interest bearing$1,418,959.00$2,648,043.00   
Cash: non-interest bearing, beginning of year$2,648,043.00$2,332,913.00   
Investments -- program-related$5,020,680.00$4,543,394.00   
Inventories for sale or use$926,971.00$768,617.00   
Other financial variables
Revenue less expenses$0.00$0.00   
Accounts receivable, net$5,497,418.00$4,668,013.00   
Prepaid expenses & deferred charges$632,535.00$988,680.00   
Accounts payable & accrued expenses$3,483,489.00$2,672,935.00   
Secured mortgages and notes payable$42,017,277.00$43,920,619.00   
Total net assets or fund balances$28,483,077.00$26,711,603.00   
Depreciation, depletion, amortization$2,579,504.00$2,422,988.00   
Governance and accountability
Number of voting members99   
Number of independent voting members99   
Financial sheets auditedTrueTrue   
Accrual accountingTrueTrue   
Tax year start date2017-01-012016-01-01   
Tax year end date2017-12-012016-12-012015-12-012014-12-012013-12-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990   
Date e-filing submitted2018-07-262017-08-18   
IRS schema version2017v2.32016v3.0   
Filing identifier201840869349301019201710909349300231   
Use these data in your project Benchmark this organization against its peers