Blue Ridge Mountain Electric Membership Corp 101-10 Irc
- Assets
- $247.0m
- Revenue
- $118.2m
- Investments
- $0.0
- Employees
- 257
- Location
- Young Harris, GA
- Founding
- 03/1943
- Data as of
- 06/2023
- EIN
- 58-0165073
Organization Overview
Blue Ridge Mountain Electric Membership Corp 101-10 Irc is located in Young Harris, GA. The organization was established in 1943. 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, Blue Ridge Mountain Electric Membership Corp 101-10 Irc employed 257 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blue Ridge Mountain Electric Membership Corp 101-10 Irc 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, Blue Ridge Mountain Electric Membership Corp 101-10 Irc generated $118.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $118.2m during the year ending 06/2023. While expenses have increased by 4.3% per year over the past 8 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
TO COST-EFFECTIVELY DISTRIBUTE ELECTRIC AND BROADBAND SERVICES TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLUE RIDGE MOUNTAIN ELECTRIC MEMBERSHIP CORPORATION IS A MEMBER-OWNED ELECTRIC COOPERATIVE PROVIDING OVER 60,000 SERVICES TO ITS MEMBERS IN THREE COUNTIES IN NORTH GEORGIA AND TWO COUNTIES IN NORTH CAROLINA. THESE SERVICES INCLUDE ELECTRICITY, BROADBAND, VOICE, AND VIDEO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arvil Ray Cook Jr Director | Trustee | 10 | $4,450 |
Roy Perren President/director | OfficerTrustee | 10 | $6,250 |
Cory Payne Treasurer/director | OfficerTrustee | 10 | $5,350 |
Danny J Henson Director | Trustee | 10 | $6,250 |
Gene Mason Director | Trustee | 10 | $6,250 |
Julius Bert Rogers Vice President/director | OfficerTrustee | 10 | $6,250 |
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 | $116,542,791 |
| Investment income | $415,587 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $991,007 |
| 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 | $118,245,767 |
| 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 | $6,565,377 |
| Compensation of current officers, directors, key employees. | $515,219 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,614,373 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,269,605 |
| Insurance | $0 |
| All other expenses | $6,726,520 |
| Total functional expenses | $118,245,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,645,618 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,858,294 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,135,612 |
| Inventories for sale or use | $8,559,226 |
| Prepaid expenses and deferred charges | $138,718 |
| Net Land, buildings, and equipment | $211,786,147 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,444,001 |
| Intangible assets | $0 |
| Other assets | $2,442,197 |
| Total assets | $247,009,813 |
| Accounts payable and accrued expenses | $14,362,665 |
| Grants payable | $0 |
| Deferred revenue | $15,065 |
| 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 | $105,959,732 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,150,148 |
| Total liabilities | $131,487,610 |
| 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 | $115,522,203 |
| Total liabilities and net assets/fund balances | $247,009,813 |