Blue Ridge Electric Membership Corporation
- Assets
- $473.7m
- Revenue
- $143.1m
- Investments
- $22.3m
- Employees
- 193
- Location
- Lenoir, NC
- Founding
- 03/1961
- Data as of
- 12/2021
- EIN
- 56-0160075
Organization Overview
Blue Ridge Electric Membership Corporation is located in Lenoir, NC. The organization was established in 1961. 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 12/2021, Blue Ridge Electric Membership Corporation employed 193 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blue Ridge 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 12/2021, Blue Ridge Electric Membership Corporation generated $143.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $142.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF BLUE RIDGE EMC
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF BLUE RIDGE EMC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES ARE AS FOLLOWS:COST OF POWER $65,965,565DEPRECIATION $23,227,296OTHER SALARIES AND WAGES $16,654,082
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas W Johnson Exec. VP & CEO | Officer | 49 | $837,377 |
Alan Merck Svp, COO | Officer | 50 | $399,396 |
Katie M Woodle Svp, CFO | Officer | 40 | $351,565 |
Brad Shields Svp, Cco | Officer | 25 | $315,626 |
Julie O'dell Svp, Cao | Officer | 42 | $312,182 |
Jason Lingle Dir. Innovation Es | 45 | $224,255 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cvo Enterprises Inc Construction | 12/30/21 | $1,538,676 |
Tri-state Drilling Construction | 12/30/21 | $1,236,766 |
Pike Electric Llc Construction | 12/30/21 | $1,896,829 |
Asplundh Tree Expert Co Tree Trimming | 12/30/21 | $1,683,352 |
Carter Utility Tree Service Tree Trimming | 12/30/21 | $2,465,963 |
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 | $136,839,826 |
| Investment income | $536,787 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,087,714 |
| Net Gain/Loss on Asset Sales | $45,480 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$4,020 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $143,145,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,847 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,098,562 |
| Compensation of current officers, directors, key employees. | $3,299,598 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,654,082 |
| Pension plan accruals and contributions | $3,651,168 |
| Other employee benefits | $194,827 |
| Payroll taxes | $1,523,807 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $589,882 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,104,497 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $261,090 |
| Interest | $7,732,434 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,227,296 |
| Insurance | $0 |
| All other expenses | -$7,610,747 |
| Total functional expenses | $142,702,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,872,742 |
| Savings and temporary cash investments | $13,881,763 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,641,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,067,288 |
| Inventories for sale or use | $5,191,823 |
| Prepaid expenses and deferred charges | $2,172,320 |
| Net Land, buildings, and equipment | $379,750,179 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $22,329,945 |
| Investments—program-related | $14,800,936 |
| Intangible assets | $0 |
| Other assets | $31,911 |
| Total assets | $473,740,390 |
| Accounts payable and accrued expenses | $18,713,658 |
| 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 | $235,610,445 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,392,240 |
| Total liabilities | $285,716,343 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $188,024,047 |
| Total liabilities and net assets/fund balances | $473,740,390 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Blue Ridge Electric Membership Corporation has recieved totaling $16,821.
| Awarding Organization | Amount |
|---|---|
North Carolina Electric Membership Corporation Raleigh, NC PURPOSE: EDUCATIONAL ASSISTANCE | $16,821 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
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 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
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 |
Berkeley Electric Cooperative Inc Moncks Corner, SC | $676,271,341 | $408,085,738 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |
Greystone Power Corporation An Electric Membership Corporation Douglasville, GA | $623,308,885 | $319,065,747 |
Cumberland Electric Membership Corp Clarksville, TN | $559,882,187 | $327,722,843 |