Civic Intelligence

Carroll Electric Membership

EIN 58-0184715 • 501(c)12 • Carrollton, GA

Profile

To provide the best possible electric service to all who desire it within the system area at the lowest price consistent with high standards of service.

155 N Hwy 113Carrollton, GA 30117

www.cemc.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

22nd percentile

0.54x

Higher debt load relative to assets than 22% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

1.29x

Higher debt load relative to revenue than 35% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Net Margin

49th percentile

0.0%

Higher net margin than 49% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

86th percentile

$785,395

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Asset Growth

63rd percentile

7.6%

Faster asset growth than 63% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

43rd percentile

5.0%

Faster revenue growth than 43% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$356,044,291

Up $25,091,067 (+7.6%) from 2023

Liabilities

Up

$192,519,204

Up $12,820,218 (+7.1%) from 2023

Net Assets

Up

$163,525,087

Up $12,270,849 (+8.1%) from 2023

Revenue

Up

$148,841,545

Up $7,153,662 (+5.0%) from 2023

Expenses

Up

$148,841,545

Up $7,153,662 (+5.0%) from 2023

Net Income

Flat

$0

Flat from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400M$300M$200M$100M$0Assets 2011: $213,868,678Liabilities 2011: $133,740,413Net Assets 2011: $80,128,2652011Assets 2012: $222,737,813Liabilities 2012: $140,870,485Net Assets 2012: $81,867,3282012Assets 2013: $221,985,352Liabilities 2013: $137,315,937Net Assets 2013: $84,669,4152013Assets 2014: $228,345,627Liabilities 2014: $143,885,942Net Assets 2014: $84,459,6852014Assets 2015: $235,401,137Liabilities 2015: $133,029,807Net Assets 2015: $102,371,3302015Assets 2016: $250,957,612Liabilities 2016: $136,675,101Net Assets 2016: $114,282,5112016Assets 2017: $265,310,737Liabilities 2017: $146,102,687Net Assets 2017: $119,208,0502017Assets 2018: $242,201,041Liabilities 2018: $134,098,468Net Assets 2018: $108,102,5732018Assets 2019: $257,203,747Liabilities 2019: $141,788,561Net Assets 2019: $115,415,1862019Assets 2020: $277,120,148Liabilities 2020: $155,518,212Net Assets 2020: $121,601,9362020Assets 2021: $281,988,599Liabilities 2021: $155,148,181Net Assets 2021: $126,840,4182021Assets 2022: $296,778,132Liabilities 2022: $167,327,422Net Assets 2022: $129,450,7102022Assets 2023: $330,953,224Liabilities 2023: $179,698,986Net Assets 2023: $151,254,2382023Assets 2024: $356,044,291Liabilities 2024: $192,519,204Net Assets 2024: $163,525,0872024

Highlighted filing

2024

Assets$356,044,291
Liabilities$192,519,204
Net Assets$163,525,087

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0Expenses 2011: $108,259,6052011Expenses 2012: $100,484,4022012Revenue 2013: $111,416,236Expenses 2013: $106,741,458Net Income 2013: $4,674,7782013Revenue 2014: $120,070,381Expenses 2014: $120,070,381Net Income 2014: $02014Revenue 2015: $119,473,610Expenses 2015: $119,473,610Net Income 2015: $02015Revenue 2016: $117,886,276Expenses 2016: $117,886,276Net Income 2016: $02016Revenue 2017: $113,870,689Expenses 2017: $113,870,689Net Income 2017: $02017Revenue 2018: $122,353,862Expenses 2018: $122,353,862Net Income 2018: $02018Revenue 2019: $122,225,195Expenses 2019: $122,225,195Net Income 2019: $02019Revenue 2020: $119,068,203Expenses 2020: $119,068,203Net Income 2020: $02020Revenue 2021: $121,059,427Expenses 2021: $121,059,427Net Income 2021: $02021Revenue 2022: $135,228,596Expenses 2022: $135,228,596Net Income 2022: $02022Revenue 2023: $141,687,883Expenses 2023: $141,687,883Net Income 2023: $02023Revenue 2024: $148,841,545Expenses 2024: $148,841,545Net Income 2024: $02024

Highlighted filing

2024

Revenue$148,841,545
Expenses$148,841,545
Net Income$0

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$356$193$164$149$149$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$331$180$151$142$142$0.00
2022Detailed filing. Detailed filing data is available for this year.$297$167$129$135$135$0.00
2021Detailed filing. Detailed filing data is available for this year.$282$155$127$121$121$0.00
2020Detailed filing. Detailed filing data is available for this year.$277$156$122$119$119$0.00
2019Detailed filing. Detailed filing data is available for this year.$257$142$115$122$122$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$242$134$108$122$122$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$265$146$119$114$114$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$251$137$114$118$118$0.00
2015Detailed filing. Detailed filing data is available for this year.$235$133$102$119$119$0.00
2014Detailed filing. Detailed filing data is available for this year.$228$144$84.5$120$120$0.00
2013Detailed filing. Detailed filing data is available for this year.$222$137$84.7$111$107$4.67
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$223$141$81.9$100
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$214$134$80.1$108
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 25, 2025
Return Version
2024v5.0
Gross Receipts
$148,841,545
Mission and Program Overview

Mission

To provide the best possible electric service to all who desire it within the system area at the lowest price consistent with high standards of service.

Service to all who desire it within the system area at the lowest price consistent with high standards of service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$266,401,571$290,566,328▲ $24,164,757
Rtn Earn Endowment Incm Other Fnds$149,429,580$161,659,658▲ $12,230,078
Prepaid Expenses and Deferred Charges$12,055,996$13,126,389▲ $1,070,393
Cash and Non-Interest-Bearing Accounts$8,256,869$12,780,299▲ $4,523,430
Accounts Receivable$9,366,411$10,846,595▲ $1,480,184
Investments Program Related$8,855,496$9,430,664▲ $575,168
Savings and Temporary Cash Investments$7,935,547--
Inventories for Sale or Use$2,918,243$3,136,940▲ $218,697
Cap Stk Tr Prin Current Funds$1,824,658$1,865,429▲ $40,771
Other Notes and Loans Receivable, Net$509,471$487,307▼ $22,164
Total Assets$330,953,224$356,044,291▲ $25,091,067
Other Assets Total$14,653,620$15,669,769▲ $1,016,149
Liabilities
Mortgage Notes Payable Secured by Investment Property$157,851,921$171,288,422▲ $13,436,501
Accounts Payable and Accrued Expenses$15,791,276$18,714,289▲ $2,923,013
Other Liabilities$4,055,789$2,516,493▼ $1,539,296
Deferred Revenue$2,000,000--
Total Liabilities$179,698,986$192,519,204▲ $12,820,218
Net Assets / Fund Balance
Total Net Assets Fund Balance$151,254,238$163,525,087▲ $12,270,849
Total Liabilities and Net Assets / Fund Balance$330,953,224$356,044,291▲ $25,091,067

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$290,374,084$112,443,934$402,818,018
Land$192,244-$192,244
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Timothy C MartinPres & CEOFT$456,641$328,754$785,395
Kevin J JohnstonCOOFT$294,786$154,366$449,152
Jay GillSVP Member SFT$290,503$74,359$364,862
Jay GillSVP Member Svc-$243,746$121,116$364,862
Jennifer HarmonCFOFT$256,932$97,056$353,988
Kim JenningsVP Human ResFT$268,083$67,020$335,103
Kim JenningsVP Human Resources-$226,262$108,841$335,103
Tommy CookVP ConstructFT$250,491$64,137$314,628
Tommy CookVP Construction-$226,459$88,169$314,628
Ronnie JordanSecretary-trPT$62,534-$62,534
Don DefoorDirectorPT$59,684-$59,684
Alvin GinnDirectorPT$56,384-$56,384
Eddie GoreChairmanPT$52,284-$52,284
Lynn JoynerDirectorPT$51,984-$51,984
Max GoldinDirectorPT$51,370-$51,370
Donnie BrannonDirectorPT$50,584-$50,584
Nan PhilpotDirectorPT$49,184-$49,184
Emmett HarrodDirectorPT$40,084-$40,084

Highest Paid Contractors

ContractorServicesLocationCompensation
Cable EastFiber1940 STATHAM DRIVE, Statham, GA 30666$6,965,457
MastecConstruction800 S DOUGLAS ROAD 10TH FLOOR, Coral Gables, FL 33134$4,189,083
Evergreen Tree & Row ServiceRow240 NW 76TH DR STE D, Gainesville, FL 32607$2,606,629
Chr SolutionsFiber Eng.9700 BISSONNET SUITE 2900, Houston, TX 77036-8014$1,857,286
Prosource Utility Contractors LLCConstructionP O BOX 197, Bowdon Junction, GA 30109$1,743,458
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$146,864,554
Investment Income
$1,294,823
Other Revenue
$682,168
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$148,841,545
Revenue Not Reported on Form 990
$3,062,679
Total Revenue per Audited Statements
$151,904,224
Total Revenue per Form 990
$148,841,545
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$130,279,658
Salaries, Compensation, and Employee Benefits$1,259,488
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$17,302,399
Depreciation Depletion---$12,317,999
Other Expenses---$5,974,700
Interest---$5,521,135
All Other Expenses---$3,655,892
Office Expenses---$1,426,070
Current Officers, Directors, Trustees, and Key Employees---$1,259,488
Total Functional Expenses$0$0$0$148,841,545

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$148,841,545
Total Expenses per Audited Statements$132,601,825
Expenses per Audited Statements$131,539,146
Expenses Not Reported on Financial Statements$17,302,399
Other Expense Adjustments$17,302,399
Expenses Not Reported on Form 990$1,062,679
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
Consumer Deposits$1,690,879
Accum Prov for Pension & Benefits$737,648
Deferred Credits$87,966
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 35% controlled entity
No
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, Page 6, Part VI, Line 6

The cooperative has members as provided 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 prior to filing in accordance with the governing body's policy which is included as part of the return.

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

The cooperative reguraly and consitently monitors and enforces compliance with their conflict of interest policy as provided for in its board policy which is included as part of the return.

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

Ceo compensation is reviewed and approved by the governing body as provided in the cooperative's board policy and procedures.

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

Other officer compensation is reviewed and approved by the ceo and governing body as provided in the cooperative's board policies and procedures.

Form 990, Page 6, Part VI, Line 19

Federal tax law does not require such documents be made publicly avaiable. Members are provided access to this information upon request.

Filing and Contact Details

Filer

Filer Name
Carroll Electric Membership
EIN
58-0184715
Phone
7708323552
Address
155 N HWY 113, CARROLLTON, GA 30117

Signing Officer

Name
Timothy C Martin
Title
Pres & CEO
Phone
7708323552
Signed
2025-03-25

Organization Details

Principal Officer
Timothy C Martin
Formed
1936
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
9
Employees
155

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
H Terrell Mcmichael Jr
Phone
4787466277
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Memberships 40,771 capital credit gains 10,629,666 patronage capital allocation 17,302,399 asc (980) deferred revenue recognized 2,000,000 patronage capital retirement -17,401,759 other -300,228 total 12,270,849

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Revenue recognition under asc - 980 2,000,000 net perodic pension costs other than service costs 1,062,679

Schedule D, Page 4, Part XII, Line 2D

Net periodic pension costs other than service costs 1,062,679

Schedule D, Page 4, Part XII, Line 4B

Patronage capital allocation 17,302,399

Raw XML AppendixShowing 400 of 553 raw XML fields

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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