Flint Electric Membership Corporation
- Assets
- $439.6m
- Revenue
- $250.8m
- Investments
- $0.0
- Employees
- 255
- Location
- Reynolds, GA
- Founding
- 04/1945
- Data as of
- 12/2022
- EIN
- 58-0456574
Organization Overview
Flint Electric Membership Corporation is located in Reynolds, GA. The organization was established in 1945. 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 12/2022, Flint Electric Membership Corporation employed 255 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flint 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 12/2022, Flint Electric Membership Corporation generated $250.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $251.5m during the year ending 12/2022. While expenses have increased by 3.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neal L Talton Chairman | OfficerTrustee | 5.5 | $39,659 |
David H Cleveland Vice Chairma | OfficerTrustee | 4.25 | $29,819 |
Jeff Wainwright Secretary/tr | OfficerTrustee | 4.5 | $27,730 |
Jane Perfect Assistant Se | OfficerTrustee | 5.75 | $20,337 |
Clarence Robinson Jr Director | Trustee | 3.75 | $25,773 |
Donald Chase Director | Trustee | 4 | $30,133 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Conexon Llc Fiber Construct | 12/30/22 | $970,035 |
Harper's Treestump Removal Right Of Way | 12/30/22 | $924,756 |
Ace Pole Acquisition Supplies | 12/30/22 | $614,471 |
Cellsite Solutions Llc Costruction | 12/30/22 | $807,487 |
C&s Cleaning Llc Cleaning Serv. | 12/30/22 | $169,980 |
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 | $250,062,551 |
| Investment income | $772,356 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $250,834,907 |
| 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 | $5,460,805 |
| Compensation of current officers, directors, key employees. | $769,471 |
| 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 | $6,357,931 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,241,278 |
| Insurance | $0 |
| All other expenses | $12,045,879 |
| Total functional expenses | $251,490,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,594,257 |
| Savings and temporary cash investments | $38,153,613 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,962,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,312,031 |
| Prepaid expenses and deferred charges | $2,806,065 |
| Net Land, buildings, and equipment | $316,252,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $26,358,317 |
| Intangible assets | $0 |
| Other assets | $7,161,561 |
| Total assets | $439,600,941 |
| Accounts payable and accrued expenses | $29,849,089 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $233,150,551 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,971,377 |
| Total liabilities | $283,971,017 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $946,320 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $154,683,604 |
| Total liabilities and net assets/fund balances | $439,600,941 |