Walton Emc
- Assets
- $527.4m
- Revenue
- $323.3m
- Investments
- $0.0
- Employees
- 284
- Location
- Monroe, GA
- Founding
- 08/1938
- Data as of
- 12/2021
- EIN
- 58-0477163
Organization Overview
Walton Emc is located in Monroe, GA. The organization was established in 1938. 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, Walton Emc employed 284 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walton Emc 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, Walton Emc generated $323.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $335.0m during the year ending 12/2021. While expenses have increased by 4.6% 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
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM'S AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Ronnie Lee President & | Officer | 50 | $666,742 |
Ronald T Marshall Sr VP Eng & | 50 | $406,314 | |
Robert E Rentfrow Sr VP Power | 50 | $385,834 | |
Russell A Delong Sr VP Corpor | 50 | $379,960 | |
Marsha L Shumate Cfo/sr VP Fi | 50 | $377,839 | |
James M Bottone VP Energy & | 50 | $301,353 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Koopers Utility Line Utility | 12/30/21 | $329,744 |
Mcnair Mclemore Middlebrooks & Co Llc Accounting Serv | 12/30/21 | $127,724 |
Autry Hall & Cook Llp Legal | 12/30/21 | $341,533 |
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 | $321,272,487 |
| Investment income | $401,092 |
| 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 | $323,280,272 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $1,069,775 |
| 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 | $371,347 |
| 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 | $5,102,509 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,038,068 |
| Insurance | $0 |
| All other expenses | $12,759,450 |
| Total functional expenses | $335,022,585 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,498,420 |
| Savings and temporary cash investments | $12,000,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,350,157 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,400 |
| Inventories for sale or use | $3,889,745 |
| Prepaid expenses and deferred charges | $375,449 |
| Net Land, buildings, and equipment | $305,459,352 |
| Investments—publicly traded securities | $39,536,888 |
| Investments—other securities | $0 |
| Investments—program-related | $131,243,273 |
| Intangible assets | $0 |
| Other assets | $36,648 |
| Total assets | $527,402,332 |
| Accounts payable and accrued expenses | $44,905,792 |
| 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 | $138,911,083 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $122,197,971 |
| Total liabilities | $306,014,846 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $962,700 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $220,424,786 |
| Total liabilities and net assets/fund balances | $527,402,332 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Walton Emc has recieved totaling $28,828.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $28,828 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Lee County Electric Cooperative Inc North Fort Myers, FL | $850,449,864 | $497,387,726 |
Withlacoochee River Electric Cooperative Inc Dade City, FL | $1,217,179,383 | $476,736,829 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sumter Electric Cooperative Inc Sumterville, FL | $962,585,573 | $440,111,118 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
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 |
Clay Electric Cooperative Inc Keystone Heights, FL | $801,967,548 | $374,561,378 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |