Civic Intelligence

Rutherford Electric Membership Corporation

990 • Fiscal year 2016 • EIN 56-0386171

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 06, 2017

Organization Profile
PO Box 1569Forest City, NC 28043-1569

(828) 245-1621

Siviq Scores

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

Liabilities / Assets

50th percentile

0.62x

Higher debt load relative to assets than 50% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

48th percentile

1.23x

Higher debt load relative to revenue than 48% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Net Margin

48th percentile

0.1%

Higher net margin than 48% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

7th percentile

$291,875

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Asset Growth

62nd percentile

4.1%

Faster asset growth than 62% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

53rd percentile

1.0%

Faster revenue growth than 53% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$275,474,325

Up $10,849,883 (+4.1%) from 2015

Net Assets

Up

$105,598,503

Up $999,300 (+1.0%) from 2015

Liabilities

Up

$169,875,822

Up $9,850,583 (+6.2%) from 2015

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin48th percentile

Revenue

Up

$138,377,459

Up $1,428,159 (+1.0%) from 2015

Expenses

Up

$138,270,723

Up $818,986 (+0.6%) from 2015

Net Income

Up

$106,736

Up $609,173 (+121%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$400M$300M$200M$100M$0Assets 2011: $250,075,768Liabilities 2011: $152,930,812Net Assets 2011: $97,144,9562011Assets 2012: $253,225,952Liabilities 2012: $152,792,574Net Assets 2012: $100,433,3782012Assets 2013: $259,551,284Liabilities 2013: $155,554,731Net Assets 2013: $103,996,5532013Assets 2014: $261,732,516Liabilities 2014: $157,855,322Net Assets 2014: $103,877,1942014Assets 2015: $264,624,442Liabilities 2015: $160,025,239Net Assets 2015: $104,599,2032015Assets 2016: $275,474,325Liabilities 2016: $169,875,822Net Assets 2016: $105,598,5032016Assets 2017: $283,365,427Liabilities 2017: $181,262,279Net Assets 2017: $102,103,1482017Assets 2018: $306,959,919Liabilities 2018: $192,974,594Net Assets 2018: $113,985,3252018Assets 2019: $320,841,491Liabilities 2019: $203,831,497Net Assets 2019: $117,009,9942019Assets 2020: $327,227,029Liabilities 2020: $205,826,752Net Assets 2020: $121,400,2772020Assets 2021: $332,630,081Liabilities 2021: $204,365,344Net Assets 2021: $128,264,7372021Assets 2022: $344,224,971Liabilities 2022: $203,258,255Net Assets 2022: $140,966,7162022Assets 2023: $368,355,438Liabilities 2023: $218,664,893Net Assets 2023: $149,690,5452023Assets 2024: $389,353,716Liabilities 2024: $233,883,324Net Assets 2024: $155,470,3922024

Highlighted filing

2016

Assets$275,474,325
Liabilities$169,875,822
Net Assets$105,598,503
Open 2016 Filing

Operations Trend

Revenue Growth53rd percentile

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

$200M$150M$100M$50M$0-$50MRevenue 2011: $133,272,197Expenses 2011: $133,821,436Net Income 2011: -$549,2392011Revenue 2012: $129,552,978Expenses 2012: $130,235,780Net Income 2012: -$682,8022012Revenue 2013: $131,743,508Expenses 2013: $132,168,340Net Income 2013: -$424,8322013Revenue 2014: $134,300,132Expenses 2014: $136,446,046Net Income 2014: -$2,145,9142014Revenue 2015: $136,949,300Expenses 2015: $137,451,737Net Income 2015: -$502,4372015Revenue 2016: $138,377,459Expenses 2016: $138,270,723Net Income 2016: $106,7362016Revenue 2017: $134,961,995Expenses 2017: $135,148,346Net Income 2017: -$186,3512017Revenue 2018: $141,369,426Expenses 2018: $141,657,492Net Income 2018: -$288,0662018Revenue 2019: $137,903,799Expenses 2019: $137,903,799Net Income 2019: $02019Revenue 2020: $141,217,343Expenses 2020: $141,217,343Net Income 2020: $02020Revenue 2021: $140,339,107Expenses 2021: $140,339,107Net Income 2021: $02021Revenue 2022: $154,765,252Expenses 2022: $154,765,252Net Income 2022: $02022Revenue 2023: $172,283,874Expenses 2023: $172,283,874Net Income 2023: $02023Revenue 2024: $167,749,291Expenses 2024: $167,749,291Net Income 2024: $02024

Highlighted filing

2016

Revenue$138,377,459
Expenses$138,270,723
Net Income$106,736
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 6, 2017
Return Version
2016v3.0
Gross Receipts
$138,406,540
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$245,581,607$252,136,673▲ $6,555,066
Rtn Earn Endowment Incm Other Fnds$103,976,858$104,973,193▲ $996,335
Investments Program Related$9,183,370$9,526,502▲ $343,132
Cash and Non-Interest-Bearing Accounts$1,198,964$5,526,859▲ $4,327,895
Accounts Receivable$3,210,093$4,219,534▲ $1,009,441
Inventories for Sale or Use$1,427,572$1,473,463▲ $45,891
Prepaid Expenses and Deferred Charges$841,044$852,383▲ $11,339
Other Notes and Loans Receivable, Net$2,124,000$763,000▼ $1,361,000
Pd in Cap Srpls Land Bldg Eqp Fund$622,345$625,310▲ $2,965
Total Assets$264,624,442$275,474,325▲ $10,849,883
Other Assets Total$1,057,792$975,911▼ $81,881
Liabilities
Mortgage Notes Payable Secured by Investment Property$129,511,940$134,258,896▲ $4,746,956
Other Liabilities$19,071,107$20,097,545▲ $1,026,438
Accounts Payable and Accrued Expenses$11,442,192$15,519,381▲ $4,077,189
Total Liabilities$160,025,239$169,875,822▲ $9,850,583
Net Assets / Fund Balance
Total Net Assets Fund Balance$104,599,203$105,598,503▲ $999,300
Total Liabilities and Net Assets / Fund Balance$264,624,442$275,474,325▲ $10,849,883

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$240,247,406$163,848,665$404,096,071
Land$11,889,267-$11,889,267
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph H JoplinGeneral ManaFT$265,838$26,037$291,875
Joseph H JoplinGeneral Manager-$264,348$45,561$291,875
Randy C WardVP-districtFT$153,787$42,914$196,701
Randy C WardVP-district Ops-$150,887$27,780$196,701
Colon L SaundersVP-operationFT$152,369$24,880$177,249
Colon L SaundersVP-operations-$149,562$27,687$177,249
Stevenson D BurlesonVP-mbr & CORFT$150,712$23,731$174,443
Stevenson D BurlesonVP-mbr & Corp Svcs-$149,893$24,550$174,443
Jeffrey C BrittainVP-engineeriFT$148,034$23,691$171,725
Jeffrey C BrittainVP-engineering-$146,883$24,842$171,725
Andrea S HarmonAdmin AssistFT$120,659$15,056$135,715
Joseph N QuinnDirector-$32,604-$32,604
H Frank QueenDirector-$31,199-$31,199
J Dean CarpenterPresident-$30,997-$30,997
V Sam BoydDirector-$30,869-$30,869
A Virgil ShullDirector-$29,515-$29,515
Robyn HouserTreasurer-$29,407-$29,407
Jill P LovellAsst. Secret-$28,679-$28,679
Robby R EureySecretary-$17,164-$17,164
Amy P TorvinenDirector-$12,426-$12,426
Timothy E StoweVice Preside-$9,300-$9,300
Kenneth H McdanielDirector-$3,776-$3,776

Highest Paid Contractors

ContractorServicesLocationCompensation
Williams Electric CompanyConstruction2119 E DIXON BLVD, Shelby, NC 28150$2,580,201
Asplundh Tree Expert CoTree CuttingPO BOX 532729, Atlanta, GA 30353$975,790
Wolf Tree INCReclearingPO BOX 74071, Cleveland, OH 44194$910,285
Cc Strickland And Sons INCGradingPO BOX 1389, Ellenboro, NC 28040$707,075
Top Gun Application Services LLCWeed Spraying160 EUBANKS FARM RD, Inman, SC 29349$480,509
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$137,705,875
Investment Income
$624,071
Other Revenue
$47,513
Change in Net Assets
$106,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$119,652,716
Salaries, Compensation, and Employee Benefits$12,365,056
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$12,610,575
Other Salaries and Wages---$7,432,351
Interest---$6,312,512
Benefits to Members---$6,252,951
Other Employee Benefits---$3,767,359
All Other Expenses---$1,709,064
Other Expenses---$1,023,788
Information Technology---$871,803
Payroll Taxes---$613,153
Current Officers, Directors, Trustees, and Key Employees---$547,811
Fees for Services Other---$287,286
Insurance---$145,581
Office Expenses---$129,508
Comp Disqual Persons---$4,382
Total Functional Expenses$0$0$0$138,270,723
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$10,405,229
Accum Prov for Pension and Be$5,774,469
Consumer Deposits$3,470,375
Wpta$447,472
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The cooperative has members as provided for in its bylaws which are included as a part of this return.”

Form 990, Page 6, Part VI, Line 7A

“The cooperative has members who elect members of the governing body as provided for in its bylaws which are included as a part of this return.”

Form 990, Page 6, Part VI, Line 7B

“Certain decisions of the governing body are subject to approval by members as provided for in its bylaws which are included as a part of this return.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the board with all supporting documentation made available to them.”

Form 990, Page 6, Part VI, Line 12C

“The cooperative regularly and consistently monitors and enforces compliance with their conflict of interest policy as provided for in its policy which is included as a part of this return.”

Form 990, Page 6, Part VI, Line 15A

“General manager compensation is reviewed and approved as provided for in the cooperative's policy which is included as a part of this return.”

Form 990, Page 6, Part VI, Line 15B

“Key employee compensation is reviewed and approved as provided for in the cooperative's policy which is included as a part of this return.”

Form 990, Page 6, Part VI, Line 19

“The cooperative makes its bylaws, conflict of interest policy, and financial statements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi section c line 18.”

Filing and Contact Details

Filer

Filer Name
Rutherford Electric Membership
EIN
56-0386171
Phone
8282451621
Address
PO BOX 1569, FOREST CITY, NC 28043-1569

Signing Officer

Name
J Dean Carpenter
Title
President
Phone
8282451621
Signed
2017-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Dean Carpenter
Formed
1940
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
193

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
Jason a Peacock
Phone
4787466277
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Membership fees 2,965 other 533,685 other comprehensive income 29,985 patronage capital credits 6,252,951 less: patronage capital credits retired -5,927,022 total 892,564”

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6ASST. SECRET
IRS990/Form990PartVIISectionAGrp/TitleTxt7SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11GENERAL MANA
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP-DISTRICT
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP-OPERATION
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP-MBR & COR
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0TO 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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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0105598503
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IRS990/OtherChangesInNetAssetsAmt0892564
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IRS990/OtherExpensesGrp/Desc1DISTRIBUTION MAINTENANCE
IRS990/OtherExpensesGrp/Desc2DISTRIBUTION OPERATIONS
IRS990/OtherExpensesGrp/Desc3CUSTOMER SVC & INFO EXP
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0763000
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IRS990/PrincipalOfficerNm0J DEAN CARPENTER
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IRS990/PYOtherExpensesAmt0119722683
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IRS990/PYRevenuesLessExpensesAmt0-502437
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IRS990/PYTotalRevenueAmt0136949300
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt011889267
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15774469
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23470375
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3447472
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCUM PROV FOR PENSION AND BE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSUMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3WPTA
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IRS990ScheduleD/TotalLiabilityAmt020097545
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1150887
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2149562
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount41151
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt423691
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOSEPH H JOPLIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1RANDY C WARD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2COLON L SAUNDERS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3STEVENSON D BURLESON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4JEFFREY C BRITTAIN
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VP-OPERATIONS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3VP-MBR & CORP SVCS
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Filings

Displayed year

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

Open filing
Assets
$275,474,325
Liabilities
$169,875,822
Net assets
$105,598,503
Revenue
$138,377,459
Expenses
$138,270,723
Net income
$106,736
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$389$234$155$168$168$0.00
2023Detailed filing. Detailed filing data is available for this year.$368$219$150$172$172$0.00
2022Detailed filing. Detailed filing data is available for this year.$344$203$141$155$155$0.00
2021Detailed filing. Detailed filing data is available for this year.$333$204$128$140$140$0.00
2020Detailed filing. Detailed filing data is available for this year.$327$206$121$141$141$0.00
2019Detailed filing. Detailed filing data is available for this year.$321$204$117$138$138$0.00
2018Detailed filing. Detailed filing data is available for this year.$307$193$114$141$142$0.29
2017Detailed filing. Detailed filing data is available for this year.$283$181$102$135$135$0.19
2016Detailed filing. Detailed filing data is available for this year.$275$170$106$138$138$0.11
2015Detailed filing. Detailed filing data is available for this year.$265$160$105$137$137$0.50
2014Detailed filing. Detailed filing data is available for this year.$262$158$104$134$136$2.15
2013Summary only. Only limited summary data is available for this year.$260$156$104$132$132$0.42
2012Summary only. Only limited summary data is available for this year.$253$153$100$130$130$0.68
2011Summary only. Only limited summary data is available for this year.$250$153$97.1$133$134$0.55