Civic Intelligence

Edgecombe-Martin County Electric Membership Corp

990 • Fiscal year 2016 • EIN 56-0211980

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 13, 2017

Organization Profileemcemc.com
PO Box 188Tarboro, NC 27886

(252) 823-2171

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.66x

Higher debt load relative to assets than 84% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

70th percentile

1.65x

Higher debt load relative to revenue than 70% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Net Margin

6th percentile

-1.5%

Higher net margin than 6% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

56th percentile

$239,896

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2016

Asset Growth

62nd percentile

3.8%

Faster asset growth than 62% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

29th percentile

-2.3%

Faster revenue growth than 29% of similar nonprofits.

2016 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$68,158,696

Up $2,509,385 (+3.8%) from 2015

Net Assets

Up

$23,320,676

Up $785,090 (+3.5%) from 2015

Liabilities

Up

$44,838,020

Up $1,724,295 (+4.0%) from 2015

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin6th percentile

Revenue

Down

$27,110,909

Down $641,800 (-2.3%) from 2015

Expenses

Down

$27,504,844

Down $530,087 (-1.9%) from 2015

Net Income

Down

-$393,935

Down $111,713 (-40%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $57,164,038Liabilities 2010: $38,920,811Net Assets 2010: $18,243,2272010Assets 2011: $58,228,488Liabilities 2011: $38,994,206Net Assets 2011: $19,234,2822011Assets 2012: $58,195,838Liabilities 2012: $38,616,482Net Assets 2012: $19,579,3562012Assets 2013: $61,209,526Liabilities 2013: $40,321,518Net Assets 2013: $20,888,0082013Assets 2014: $63,825,072Liabilities 2014: $42,143,563Net Assets 2014: $21,681,5092014Assets 2015: $65,649,311Liabilities 2015: $43,113,725Net Assets 2015: $22,535,5862015Assets 2016: $68,158,696Liabilities 2016: $44,838,020Net Assets 2016: $23,320,6762016Assets 2017: $67,955,687Liabilities 2017: $42,903,733Net Assets 2017: $25,051,9542017Assets 2018: $67,220,543Liabilities 2018: $39,194,463Net Assets 2018: $28,026,0802018Assets 2019: $70,018,141Liabilities 2019: $38,769,915Net Assets 2019: $31,248,2262019Assets 2020: $70,771,642Liabilities 2020: $38,040,742Net Assets 2020: $32,730,9002020Assets 2021: $71,516,815Liabilities 2021: $36,574,226Net Assets 2021: $34,942,5892021Assets 2022: $72,560,795Liabilities 2022: $37,656,219Net Assets 2022: $34,904,5762022Assets 2023: $74,404,871Liabilities 2023: $38,710,944Net Assets 2023: $35,693,9272023Assets 2024: $73,856,397Liabilities 2024: $36,016,899Net Assets 2024: $37,839,4982024

Highlighted filing

2016

Assets$68,158,696
Liabilities$44,838,020
Net Assets$23,320,676
Open 2016 Filing

Operations Trend

Revenue Growth29th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $27,165,4032010Expenses 2011: $28,079,3632011Expenses 2012: $27,455,9022012Revenue 2013: $28,218,692Expenses 2013: $28,491,320Net Income 2013: -$272,6282013Revenue 2014: $28,407,255Expenses 2014: $28,643,624Net Income 2014: -$236,3692014Revenue 2015: $27,752,709Expenses 2015: $28,034,931Net Income 2015: -$282,2222015Revenue 2016: $27,110,909Expenses 2016: $27,504,844Net Income 2016: -$393,9352016Revenue 2017: $28,672,057Expenses 2017: $28,523,388Net Income 2017: $148,6692017Revenue 2018: $30,831,186Expenses 2018: $31,371,962Net Income 2018: -$540,7762018Revenue 2019: $30,391,391Expenses 2019: $30,321,744Net Income 2019: $69,6472019Revenue 2020: $28,123,759Expenses 2020: $28,543,294Net Income 2020: -$419,5352020Revenue 2021: $29,232,800Expenses 2021: $29,544,343Net Income 2021: -$311,5432021Revenue 2022: $29,118,803Expenses 2022: $29,318,794Net Income 2022: -$199,9912022Revenue 2023: $29,738,660Expenses 2023: $30,193,887Net Income 2023: -$455,2272023Revenue 2024: $32,243,740Expenses 2024: $32,449,581Net Income 2024: -$205,8412024

Highlighted filing

2016

Revenue$27,110,909
Expenses$27,504,844
Net Income-$393,935
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$27,123,544
Mission and Program Overview

Mission

Safe and effective DISTRIBUTION OF ELECTRICITY TO the customers of the Cooperative

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$49,893,294$50,854,362▲ $961,068
Rtn Earn Endowment Incm Other Fnds$22,535,586$23,320,676▲ $785,090
Investments Program Related$4,710,424$5,501,795▲ $791,371
Accounts Receivable$2,644,862$3,406,451▲ $761,589
Other Notes and Loans Receivable, Net$2,756,941$3,402,415▲ $645,474
Cash and Non-Interest-Bearing Accounts$2,323,085$1,918,144▼ $404,941
Prepaid Expenses and Deferred Charges$1,397,417$1,719,349▲ $321,932
Savings and Temporary Cash Investments$520,085$721,834▲ $201,749
Inventories for Sale or Use$1,403,203$634,346▼ $768,857
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$65,649,311$68,158,696▲ $2,509,385
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$39,092,855$39,968,716▲ $875,861
Other Liabilities$2,593,603$3,028,466▲ $434,863
Accounts Payable and Accrued Expenses$1,427,267$1,840,838▲ $413,571
Total Liabilities$43,113,725$44,838,020▲ $1,724,295
Net Assets / Fund Balance
Total Net Assets Fund Balance$22,535,586$23,320,676▲ $785,090
Total Liabilities and Net Assets / Fund Balance$65,649,311$68,158,696▲ $2,509,385

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$50,263,940$25,548,113$75,812,053
Land$590,422-$590,422
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James E StocksVP Mem & Ind DevFT$135,793$104,103$239,896
Michael JohnsonVP EngineeringFT$128,464$110,385$238,849
Winston HowellCEOFT$181,479$54,274$235,753
Lisa TolsonVP of HrFT$118,985$87,372$206,357
Melinda NimmoVP of FinanceFT$123,449$47,997$171,446
Gary HicksIt/gis CorrdinatorFT$109,446$46,113$155,559
Floyd HarrellDirector-$14,300-$14,300
Elbert Ray Pitt JrPresident-$12,500-$12,500
Millie LilleyDirector-$12,165-$12,165
Billy TrevathanTreasurer-$11,900-$11,900
Jimmie JerniganVice President-$11,155-$11,155
Joe SuggsSecretary-$9,900-$9,900
Norman RobersonDirector-$9,355-$9,355

Highest Paid Contractors

ContractorServicesLocationCompensation
Pike ElectricLine ConversionsPO BOX 1000, Memphis, TN 38148$747,032
Xylem Tree Company INCROW, Tree Trimming208 E PLUME ST, Norfolk, VA 23510$516,270
Dean Jones INCTree Trimming, Clear1241 CORBETT TOWN RD, Snow Hill, NC 28580$109,114
Utility Electrical ConsultantsEngineering Services155 IS 70 Hwy W, Garner, NC 27529$102,406
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$26,408,056
Investment Income
$130,076
Other Revenue
$572,777
Change in Net Assets
$-393,935

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,503,920
Revenue Not Reported on Financial Statements
$-393,011
Other Revenue Adjustments
$-393,011
Total Revenue per Audited Statements
$27,503,920
Total Revenue per Form 990
$27,110,909
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,689,609
Salaries, Compensation, and Employee Benefits$4,102,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,845,198
Depreciation Depletion---$2,418,439
Benefits to Members---$1,712,365
Interest---$1,416,253
Other Expenses---$620,473
Travel---$570,988
Pension Plan Contributions---$516,774
Current Officers, Directors, Trustees, and Key Employees---$488,474
Payroll Taxes---$252,424
Conferences and Meetings---$72,685
Fees for Services Legal---$16,087
All Other Expenses---$-925,489
Total Functional Expenses$0$0$0$27,504,844

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$27,504,844
Expenses per Audited Statements$25,791,555
Total Expenses per Audited Statements$25,791,555
Expenses Not Reported on Financial Statements$1,713,289
Other Expense Adjustments$1,713,289
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$1,887,126
Consumer Deposits$614,113
Accrued Liabilities$527,227
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Edgecombe-Martin is an electric membership corporation that delivers electricity to the members of the cooperative. The members elect the board of directors, which is the governing body of the cooperative.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members of the governing board are elected by the membership of the cooperative. The board has monthly meetings and an annual meeting that is open to the entire memebership.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“certain decisions of the governing board are subject to approval by the members as provided for in the by-laws.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Ceo and vp of finance review a draft of the 990 with board prior to filing the return.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Officers, directors and key employees are required to disclose interests that could give rise to conflicts at each monthly board meeting.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Ceo compensation is determined by the board of directors after a review and comparison with surveys of similar organizations. Compensation of other officers, key employees and staff are determined by the ceo after consultation with managerial staff and comparison with information from other similar organizations.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents and policies are available upon request. Financial data is provided to the members at the annual meeting and is also included on the 990 which is available upon request or on the internet.”

Part VII Section A Column F

“The cooperative participates in the nreca group defined pension plan. As part of this plan, participants are required to recognize the actuarial increase in the value of their account on the form 990. The contribution rate for participants in the plan are the same for all individuals in the plan. The change in actuarial value for each participant, however, varies with age. In other words, the older a participant is, the greater the increase in that individual's change in actuarial value with all other things being equal.”

Filing and Contact Details

Filer

Filer Name
Edgecombe-martin County Emc
EIN
56-0211980
Phone
2528232171
Address
PO BOX 188, TARBORO, NC 27886

Signing Officer

Name
Winston Howell
Title
CEO
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Winston Howell
Formed
1936
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
40

Preparer

Firm
Adams Jenkins Cheatham Pc
Address
231 WYLDEROSE DR, MIDLOTHIAN, VA 23113-6845
Preparer
G Steven Gilliam CPA
Phone
8043231313
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“= $0”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“contributions in aid of construction not revenue per gaap = -$96032”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Net decrease in Memberships = -$4100”

Other Changes In Net Assets Or Fund Balances - Other Increases

“noncash patronage allocations not revenue per gaap = $489967”

Other Changes In Net Assets Or Fund Balances - Other Increases

“patronage div. paid to members' accts not expense per gaap = $1712365”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Retirement of Capital Credits = -$923175”

Part IX Line 17 - Travel Costs

“Travel costs includes the expenses of purchasing, leasing, operating, and repairing any vehicles owned by the Corporation and used in the Corporation's activities. Travel costs also include transportation costs, meals and lodging, and per diem payments.”

Part IX, Line 4 - Benefits Paid to or for Members

“Patronage dividends paid to members' accounts in accordance with the pre-existing obligation in EDGECOME-MARTIN COUNTY EMC's by-laws. The Cooperative is obligated to pay by credits to a capital account for each patron all such amounts in excess of operating costs and expenses. IRS instructions for line 4 changed in 2011 to include patronage dividends paid by section 501(c)(12) organizations to their members.”

Financial Statement Notes

Part X : FIN48 Footnote

“The Corporation follows the guidance for "uncertain tax positions" in accordance with accounting principles generally accepted in the United States of America. The Cooperative has determined that it is more likely than not that its tax positions will be sustained upon examination by the Internal Revenue Service.”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“patronage div. paid to members' accts. $1712365 990 T Expenses netted against revenue $924”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation follows the guidance for "uncertain tax positions" in accordance with accounting principles generally accepted in the United States of America. The Cooperative has determined that it is more likely than not that its tax positions will be sustained upon examination by the Internal Revenue Service.

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$68,158,696
Liabilities
$44,838,020
Net assets
$23,320,676
Revenue
$27,110,909
Expenses
$27,504,844
Net income
-$393,935
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$73.9$36.0$37.8$32.2$32.4$0.21
2023Detailed filing. Detailed filing data is available for this year.$74.4$38.7$35.7$29.7$30.2$0.46
2022Detailed filing. Detailed filing data is available for this year.$72.6$37.7$34.9$29.1$29.3$0.20
2021Detailed filing. Detailed filing data is available for this year.$71.5$36.6$34.9$29.2$29.5$0.31
2020Detailed filing. Detailed filing data is available for this year.$70.8$38.0$32.7$28.1$28.5$0.42
2019Detailed filing. Detailed filing data is available for this year.$70.0$38.8$31.2$30.4$30.3$0.07
2018Detailed filing. Detailed filing data is available for this year.$67.2$39.2$28.0$30.8$31.4$0.54
2017Detailed filing. Detailed filing data is available for this year.$68.0$42.9$25.1$28.7$28.5$0.15
2016Detailed filing. Detailed filing data is available for this year.$68.2$44.8$23.3$27.1$27.5$0.39
2015Detailed filing. Detailed filing data is available for this year.$65.6$43.1$22.5$27.8$28.0$0.28
2014Detailed filing. Detailed filing data is available for this year.$63.8$42.1$21.7$28.4$28.6$0.24
2013Detailed filing. Detailed filing data is available for this year.$61.2$40.3$20.9$28.2$28.5$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.2$38.6$19.6$27.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.2$39.0$19.2$28.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.2$38.9$18.2$27.2