Civic Intelligence

Excelsior Electric Membership Corporation

990 • Fiscal year 2020 • EIN 58-0237855

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 15, 2021

PO Box 297Metter, GA 30439

(912) 685-2115

Siviq Scores

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

Liabilities / Assets

29th percentile

0.46x

Higher debt load relative to assets than 29% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

31st percentile

1.17x

Higher debt load relative to revenue than 31% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Net Margin

53rd percentile

0.0%

Higher net margin than 53% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

67th percentile

$382,035

Higher top officer pay than 67% of similar nonprofits.

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

2020 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2020

Asset Growth

57th percentile

5.3%

Faster asset growth than 57% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

37th percentile

-3.3%

Faster revenue growth than 37% of similar nonprofits.

2020 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$112,540,171

Up $5,671,316 (+5.3%) from 2019

Net Assets

Up

$61,304,784

Up $1,863,450 (+3.1%) from 2019

Liabilities

Up

$51,235,387

Up $3,807,866 (+8.0%) from 2019

Revenue

Down

$43,703,309

Down $1,486,726 (-3.3%) from 2019

Expenses

Down

$43,703,309

Down $1,486,726 (-3.3%) from 2019

Net Income

Flat

$0

Flat from 2019

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2011: $73,140,840Liabilities 2011: $30,521,542Net Assets 2011: $42,619,2982011Assets 2012: $74,732,831Liabilities 2012: $30,587,020Net Assets 2012: $44,145,8112012Assets 2013: $79,535,743Liabilities 2013: $33,748,541Net Assets 2013: $45,787,2022013Assets 2014: $83,053,981Liabilities 2014: $35,405,645Net Assets 2014: $47,648,3362014Assets 2015: $84,637,543Liabilities 2015: $35,091,361Net Assets 2015: $49,546,1822015Assets 2016: $87,186,773Liabilities 2016: $35,714,609Net Assets 2016: $51,472,1642016Assets 2017: $91,773,232Liabilities 2017: $38,263,915Net Assets 2017: $53,509,3172017Assets 2018: $95,965,982Liabilities 2018: $38,671,672Net Assets 2018: $57,294,3102018Assets 2019: $106,868,855Liabilities 2019: $47,427,521Net Assets 2019: $59,441,3342019Assets 2020: $112,540,171Liabilities 2020: $51,235,387Net Assets 2020: $61,304,7842020Assets 2021: $119,361,267Liabilities 2021: $56,295,462Net Assets 2021: $63,065,8052021Assets 2022: $124,732,213Liabilities 2022: $59,667,094Net Assets 2022: $65,065,1192022Assets 2023: $137,691,197Liabilities 2023: $69,619,739Net Assets 2023: $68,071,4582023Assets 2024: $167,963,139Liabilities 2024: $96,230,260Net Assets 2024: $71,732,8792024

Highlighted filing

2020

Assets$112,540,171
Liabilities$51,235,387
Net Assets$61,304,784

Operations Trend

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

$80M$60M$40M$20M$0-$20MRevenue 2011: $38,441,722Expenses 2011: $38,441,722Net Income 2011: $02011Revenue 2012: $35,629,798Expenses 2012: $35,629,798Net Income 2012: $02012Revenue 2013: $37,581,087Expenses 2013: $37,581,087Net Income 2013: $02013Revenue 2014: $40,981,012Expenses 2014: $40,981,012Net Income 2014: $02014Revenue 2015: $39,209,195Expenses 2015: $39,209,195Net Income 2015: $02015Revenue 2016: $40,017,995Expenses 2016: $40,017,995Net Income 2016: $02016Revenue 2017: $40,292,019Expenses 2017: $40,292,019Net Income 2017: $02017Revenue 2018: $44,230,999Expenses 2018: $44,230,999Net Income 2018: $02018Revenue 2019: $45,190,035Expenses 2019: $45,190,035Net Income 2019: $02019Revenue 2020: $43,703,309Expenses 2020: $43,703,309Net Income 2020: $02020Revenue 2021: $45,904,608Expenses 2021: $45,904,608Net Income 2021: $02021Revenue 2022: $56,051,818Expenses 2022: $57,121,131Net Income 2022: -$1,069,3132022Revenue 2023: $57,359,692Expenses 2023: $56,571,127Net Income 2023: $788,5652023Revenue 2024: $63,604,365Expenses 2024: $62,230,457Net Income 2024: $1,373,9082024

Highlighted filing

2020

Revenue$43,703,309
Expenses$43,703,309
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 15, 2021
Return Version
2020v4.0
Gross Receipts
$43,703,309
Mission and Program Overview

Mission

To provide the best in safe, reliable and cost-effective service for its members.

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$66,547,300$68,930,741▲ $2,383,441
Rtn Earn Endowment Incm Other Fnds$59,061,196$60,914,097▲ $1,852,901
Investments Program Related$19,934,083$20,796,017▲ $861,934
Prepaid Expenses and Deferred Charges$8,698,922$9,284,446▲ $585,524
Savings and Temporary Cash Investments$6,875,523$7,783,651▲ $908,128
Accounts Receivable$3,464,934$4,003,120▲ $538,186
Cash and Non-Interest-Bearing Accounts$746,249$744,160▼ $2,089
Investments in Publicly Traded Securities-$523,690-
Cap Stk Tr Prin Current Funds$380,138$390,687▲ $10,549
Inventories for Sale or Use$327,931$330,827▲ $2,896
Total Assets$106,868,855$112,540,171▲ $5,671,316
Other Assets Total$273,913$143,519▼ $130,394
Liabilities
Mortgage Notes Payable Secured by Investment Property$29,950,614$29,807,495▼ $143,119
Other Liabilities$14,119,246$17,764,066▲ $3,644,820
Accounts Payable and Accrued Expenses$3,357,661$3,663,826▲ $306,165
Total Liabilities$47,427,521$51,235,387▲ $3,807,866
Net Assets / Fund Balance
Total Net Assets Fund Balance$59,441,334$61,304,784▲ $1,863,450
Total Liabilities and Net Assets / Fund Balance$106,868,855$112,540,171▲ $5,671,316

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$68,895,461$24,785,321$93,680,782
Land$35,280-$35,280
Investment Program Related Org$184,048--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg ProctorPresident/ceFT$275,122$106,913$382,035
Greg ProctorPresident/CEO-$251,549$130,486$382,035
William a WaldenMgr, Data &FT$210,623$72,925$283,548
William a WaldenMgr, Data & Tech Svs-$195,576$87,972$283,548
Jessie R GoodmanMgr, Maint &FT$168,657$64,304$232,961
Jessie R GoodmanMgr, Maint & Const-$157,578$75,383$232,961
Christopher HowellMgr. Fin. &FT$112,962$47,505$160,467
Christopher HowellMgr. Fin. & Acct Svc-$106,392$54,075$160,467
James PorterMgr. MemberFT$121,593$38,754$160,347
James PorterMgr. Member Services-$112,502$47,845$160,347
James McneelyConstr. CrewFT$116,009$42,136$158,145
James McneelyConstr. Crew Leader-$108,331$49,814$158,145
Gary DrakePresident/ce-$117,633-$117,633
Gary DrakePresident/CEO--$117,633$117,633
Jordy CarterDirectorPT$31,465-$31,465
Mike AndersonChairman-$31,215-$31,215
David CromleyDirector-$31,215-$31,215
Solly TrapnellDirectorPT$24,905-$24,905
Gw Johnson JrSecretary/tr-$24,660-$24,660
Grady MccrayDirectorPT$24,435-$24,435
Wade C HodgesVice Chairma-$21,491-$21,491
Amy HendrixDirector-$20,834-$20,834
Jerry Cadwell JrDirector-$10,117-$10,117
Russell MathisDirector-$505-$505

Highest Paid Contractors

ContractorServicesLocationCompensation
Georgia Right-of-way CompanyRow Clearing60 LOGISTICS CENTER PKWY, Forsyth, GA 31029$687,517
Wa Kendall And CompanyRow ClearingPO BOX 831, Lawrenceville, GA 30046$428,962
Lee Electrical ConstructionUtility Constr.12828 US-501, Aberdeen, NC 28315$387,242
Bowen Tree SurgeonsRow Clearing144 LEE STREET, Midville, GA 30441$355,201
Cappstone Energy GroupEngineering SerPO BOX 2295, Covington, GA 30015$135,502
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$43,247,059
Investment Income
$456,250
Other Revenue
$0
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$40,135,740
Revenue Not Reported on Financial Statements
$3,567,569
Other Revenue Adjustments
$3,567,569
Total Revenue per Audited Statements
$40,135,740
Total Revenue per Form 990
$43,703,309
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$37,681,054
Salaries, Compensation, and Employee Benefits$602,876
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$5,419,379
Depreciation Depletion---$2,991,388
Other Expenses---$1,375,895
All Other Expenses---$1,172,654
Interest---$1,043,309
Current Officers, Directors, Trustees, and Key Employees---$602,876
Office Expenses---$202,935
Total Functional Expenses$0$0$0$43,703,309

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$43,703,309
Total Expenses per Audited Statements$38,283,931
Expenses per Audited Statements$38,283,930
Expenses Not Reported on Financial Statements$5,419,379
Other Expense Adjustments$5,419,379
Expenses Not Reported on Form 990$1
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$16,176,509
Accum Prov for Postretirement Ben$829,818
Consumer Deposits$757,739
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 for in its bylaws which are available on the cooperatives's website.

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 available on the cooperatives's website.

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 available on the cooperative's website.

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

Form 990 is reviewed by the board as provided for in the cooperative's policy which is included as a part of this return.

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

President/ceo 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 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. The cooperative's bylaws are available on the cooperative's website.

Filing and Contact Details

Filer

Filer Name
Excelsior Electric Membership
EIN
58-0237855
Phone
9126852115
Address
PO BOX 297, METTER, GA 30439

Signing Officer

Name
Greg Proctor
Title
President/CEO
Phone
9126852115
Signed
2021-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Proctor
Formed
1938
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
9
Employees
57

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, Page 2, Part III, Line 4D

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.

Form 990, Part XI, Line 9

Donated capital 1,091 memberships 10,549 revenue deferral -2,902,647 patronage capital credits 5,419,379 change in overrecovery of wpca -664,922 total 1,863,450

Financial Statement Notes

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

Revenue deferral 2,902,647 change in overrecovery of wpca 664,922

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

Book / tax depreciation difference 1

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

Patronage capital credits 5,419,379

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IRS990/Form990PartVIISectionAGrp/PersonNm13WADE C HODGES
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IRS990/Form990PartVIISectionAGrp/TitleTxt1MGR, DATA &
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IRS990/Form990PartVIISectionAGrp/TitleTxt4MGR. MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5CONSTR. CREW
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/OtherExpensesGrp/Desc1DISTRIBUTION MAINTENANCE
IRS990/OtherExpensesGrp/Desc2DISTRIBUTION OPERATIONS
IRS990/OtherExpensesGrp/Desc3CONSUMER ACCOUNTS
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IRS990/OtherExpensesGrp/TotalAmt22307227
IRS990/OtherExpensesGrp/TotalAmt31375895
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IRS990/ProgramServiceRevenueGrp/Desc0ELECTRIC SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1G & T CAPITAL CREDITS
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt13477976
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt21183580
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt31061110
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4618636
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt5392906
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt7184048
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0PAT CAP - OPC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1PAT CAP - GTC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2PAT CAP - GRESCO
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3PAT CAP - NRTC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4INVESTMENT IN CTC'S
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5PAT CAP - CFC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6OTHER INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7PAT CAP - SEDC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd6C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd7C
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt035280
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016176509
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1829818
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2757739
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCUM PROV FOR POSTRETIREMENT BEN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSUMER DEPOSITS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt03567569
IRS990ScheduleD/RevenueSubtotalAmt040135740
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0REVENUE DEFERRAL 2,902,647 CHANGE IN OVERRECOVERY OF WPCA 664,922
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2PATRONAGE CAPITAL CREDITS 5,419,379
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalBookValueProgramRltdAmt020796017
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IRS990ScheduleD/TotalLiabilityAmt017764066
IRS990ScheduleD/TotalRevenuePerForm990Amt043703309
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt038283931
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$168$96.2$71.7$63.6$62.2$1.37
2023Detailed filing. Detailed filing data is available for this year.$138$69.6$68.1$57.4$56.6$0.79
2022Detailed filing. Detailed filing data is available for this year.$125$59.7$65.1$56.1$57.1$1.07
2021Detailed filing. Detailed filing data is available for this year.$119$56.3$63.1$45.9$45.9$0.00
2020Detailed filing. Detailed filing data is available for this year.$113$51.2$61.3$43.7$43.7$0.00
2019Detailed filing. Detailed filing data is available for this year.$107$47.4$59.4$45.2$45.2$0.00
2018Detailed filing. Detailed filing data is available for this year.$96.0$38.7$57.3$44.2$44.2$0.00
2017Detailed filing. Detailed filing data is available for this year.$91.8$38.3$53.5$40.3$40.3$0.00
2016Detailed filing. Detailed filing data is available for this year.$87.2$35.7$51.5$40.0$40.0$0.00
2015Summary only. Only limited summary data is available for this year.$84.6$35.1$49.5$39.2$39.2$0.00
2014Summary only. Only limited summary data is available for this year.$83.1$35.4$47.6$41.0$41.0$0.00
2013Summary only. Only limited summary data is available for this year.$79.5$33.7$45.8$37.6$37.6$0.00
2012Summary only. Only limited summary data is available for this year.$74.7$30.6$44.1$35.6$35.6$0.00
2011Summary only. Only limited summary data is available for this year.$73.1$30.5$42.6$38.4$38.4$0.00