Joe Wheeler Electric Membership Corporation
- Assets
- $378.4m
- Revenue
- $182.5m
- Investments
- $15.0m
- Employees
- 130
- Location
- Trinity, AL
- Founding
- 11/1942
- Data as of
- 06/2023
- EIN
- 63-0224987
Organization Overview
Joe Wheeler Electric Membership Corporation is located in Trinity, AL. The organization was established in 1942. 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, Joe Wheeler Electric Membership Corporation employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joe Wheeler 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 06/2023, Joe Wheeler Electric Membership Corporation generated $182.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $182.1m during the year ending 06/2023. While expenses have increased by 3.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC UTILITY SERVICE TO THE COOPERATIVE'S MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTILIZING APPROXIMATELY 4,394 MILES OF DISTRIBUTION LINES, JOE WHEELER ELECTRIC MEMBERSHIP CORPORATION PROVIDED 1,653,734,777 KILOWATT-HOURS OF ELECTRIC ENERGY TO ITS COOPERATIVE MEMBERS LOCATED IN NORTH ALABAMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Owens Director/sec/treas | Trustee | 3 | $11,463 |
Charles Teague Director | Trustee | 6 | $10,623 |
Shirley Livingston Director | Trustee | 7 | $10,687 |
Ray Long Director/president | OfficerTrustee | 6 | $10,754 |
Andrew Mccay Director | Trustee | 8 | $10,823 |
Jimmie Halbrooks Director | Trustee | 8 | $11,535 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Power Grid Services Line Construction | 6/29/23 | $17,452,603 |
Sdt Solutions Llc Fiber Line Construction | 6/29/23 | $16,494,413 |
Asplundh Tree Expert Company Right Of Way Clearing | 6/29/23 | $3,100,320 |
Meridian Cooperativee Inc Computer Service Provider | 6/29/23 | $1,088,107 |
Broadband Technical Resc Inc Fiber Line Construction | 6/29/23 | $3,029,941 |
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 | $178,576,150 |
| Investment income | $232,504 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,631,080 |
| 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 | $182,521,630 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $786,611 |
| 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 | $6,442,360 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,823,448 |
| Insurance | $0 |
| All other expenses | $7,833,515 |
| Total functional expenses | $182,107,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,796,445 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,609,272 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,934,056 |
| Inventories for sale or use | $19,851,190 |
| Prepaid expenses and deferred charges | $124,972 |
| Net Land, buildings, and equipment | $293,712,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,046,004 |
| Investments—program-related | $9,333,882 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $378,408,818 |
| Accounts payable and accrued expenses | $44,703,174 |
| 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 | $195,721,225 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,884,744 |
| Total liabilities | $257,309,143 |
| 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 | $121,099,675 |
| Total liabilities and net assets/fund balances | $378,408,818 |