Jones-Onslow Electric Membership Corporation
- Assets
- $354.3m
- Revenue
- $148.6m
- Investments
- $1.7m
- Employees
- 205
- Location
- Jacksonville, NC
- Founding
- 12/1966
- Data as of
- 12/2021
- EIN
- 56-0283268
Organization Overview
Jones-Onslow Electric Membership Corporation is located in Jacksonville, NC. The organization was established in 1966. 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, Jones-Onslow Electric Membership Corporation employed 205 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jones-Onslow 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, Jones-Onslow Electric Membership Corporation generated $148.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $144.3m during the year ending 12/2021. While expenses have increased by 1.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF JOEMC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE PROVIDING ELECTRIC SERVICES TO APPROXIMATELY 75,000 MEMBERS. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 96,199,200 OTHER SALARIES AND WAGES 14,162,376 DEPRECIATION 12,886,272
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffery T Clark CEO | Officer | 50 | $672,372 |
Thomas Pritchard Cueo | Officer | 50 | $443,796 |
Wanda Jones VP Commercia | Officer | 50 | $211,869 |
Michelle Hefner VP Fin & Acc | Officer | 50 | $205,525 |
Carrie Peters VP It | 50 | $198,840 | |
Steve Goodson VP Energy Sv | 50 | $198,772 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davey Tree Expert Company Right Of Way | 12/30/21 | $1,414,660 |
River City Construction Inc Contract Crews | 12/30/21 | $1,219,554 |
Meridian Cooperative Inc Software | 12/30/21 | $1,146,803 |
Egroup Holding Company Llc Technology | 12/30/21 | $665,338 |
Datawatt Solutions Inc Fiber Work | 12/30/21 | $861,487 |
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 | $147,480,269 |
| Investment income | $86,377 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $222,416 |
| Net Gain/Loss on Asset Sales | -$10,928 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $148,598,141 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,831,153 |
| Compensation of current officers, directors, key employees. | $2,854,959 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,162,376 |
| Pension plan accruals and contributions | $2,279,220 |
| Other employee benefits | $322,541 |
| Payroll taxes | $1,361,943 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $93,676 |
| 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 | $2,867,476 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $197,421 |
| Interest | $4,652,304 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,886,272 |
| Insurance | $0 |
| All other expenses | -$8,467,793 |
| Total functional expenses | $144,316,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,001,649 |
| Savings and temporary cash investments | $171,602 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,746,065 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $950,417 |
| Inventories for sale or use | $2,851,603 |
| Prepaid expenses and deferred charges | $1,694,133 |
| Net Land, buildings, and equipment | $281,163,603 |
| Investments—publicly traded securities | $2,874,606 |
| Investments—other securities | $1,703,806 |
| Investments—program-related | $40,120,874 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $354,278,358 |
| Accounts payable and accrued expenses | $14,647,232 |
| 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 | $144,813,910 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,811,976 |
| Total liabilities | $186,273,118 |
| 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 | $168,005,240 |
| Total liabilities and net assets/fund balances | $354,278,358 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Jones-Onslow Electric Membership Corporation has recieved totaling $12,422.
| Awarding Organization | Amount |
|---|---|
North Carolina Electric Membership Corporation Raleigh, NC PURPOSE: EDUCATIONAL ASSISTANCE | $12,422 |
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 |