Civic Intelligence

Hart Electric Membership

990 • Fiscal year 2021 • EIN 58-0280657

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 22, 2022

PO Box 250Hartwell, GA 30643

(800) 241-4109

Siviq Scores

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

Liabilities / Assets

39th percentile

0.50x

Higher debt load relative to assets than 39% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

47th percentile

1.36x

Higher debt load relative to revenue than 47% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Net Margin

49th percentile

0.0%

Higher net margin than 49% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

99th percentile

$790,514

Higher top officer pay than 99% of similar nonprofits.

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

2021 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2021

Asset Growth

11th percentile

0.0%

Faster asset growth than 11% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

53rd percentile

4.7%

Faster revenue growth than 53% of similar nonprofits.

2021 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$227,728,767

Up $41,555 (+0.0%) from 2020

Net Assets

Up

$113,647,703

Up $5,509,431 (+5.1%) from 2020

Liabilities

Down

$114,081,064

Down $5,467,876 (-4.6%) from 2020

Revenue

Up

$84,026,536

Up $3,789,086 (+4.7%) from 2020

Expenses

Up

$84,026,536

Up $3,789,086 (+4.7%) from 2020

Net Income

Flat

$0

Flat from 2020

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $153,029,641Liabilities 2011: $89,237,778Net Assets 2011: $63,791,8632011Assets 2012: $155,276,962Liabilities 2012: $88,500,638Net Assets 2012: $66,776,3242012Assets 2013: $159,764,387Liabilities 2013: $91,792,721Net Assets 2013: $67,971,6662013Assets 2014: $173,757,535Liabilities 2014: $100,162,310Net Assets 2014: $73,595,2252014Assets 2015: $179,748,303Liabilities 2015: $106,080,077Net Assets 2015: $73,668,2262015Assets 2016: $178,556,244Liabilities 2016: $96,644,045Net Assets 2016: $81,912,1992016Assets 2017: $175,880,505Liabilities 2017: $91,405,346Net Assets 2017: $84,475,1592017Assets 2018: $191,313,457Liabilities 2018: $101,239,825Net Assets 2018: $90,073,6322018Assets 2019: $213,929,296Liabilities 2019: $119,220,730Net Assets 2019: $94,708,5662019Assets 2020: $227,687,212Liabilities 2020: $119,548,940Net Assets 2020: $108,138,2722020Assets 2021: $227,728,767Liabilities 2021: $114,081,064Net Assets 2021: $113,647,7032021Assets 2022: $242,758,316Liabilities 2022: $114,984,292Net Assets 2022: $127,774,0242022Assets 2023: $255,268,022Liabilities 2023: $125,082,889Net Assets 2023: $130,185,1332023Assets 2024: $283,392,078Liabilities 2024: $144,247,585Net Assets 2024: $139,144,4932024

Highlighted filing

2021

Assets$227,728,767
Liabilities$114,081,064
Net Assets$113,647,703

Operations Trend

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

$100M$50M$0Revenue 2011: $70,986,307Expenses 2011: $70,986,307Net Income 2011: $02011Revenue 2012: $69,062,999Expenses 2012: $69,062,999Net Income 2012: $02012Revenue 2013: $70,411,366Expenses 2013: $70,411,366Net Income 2013: $02013Revenue 2014: $76,670,913Expenses 2014: $76,670,913Net Income 2014: $02014Revenue 2015: $77,775,587Expenses 2015: $77,775,587Net Income 2015: $02015Revenue 2016: $77,618,795Expenses 2016: $77,618,795Net Income 2016: $02016Revenue 2017: $74,791,574Expenses 2017: $74,791,574Net Income 2017: $02017Revenue 2018: $82,527,096Expenses 2018: $82,527,096Net Income 2018: $02018Revenue 2019: $83,157,240Expenses 2019: $83,157,240Net Income 2019: $02019Revenue 2020: $80,237,450Expenses 2020: $80,237,450Net Income 2020: $02020Revenue 2021: $84,026,536Expenses 2021: $84,026,536Net Income 2021: $02021Revenue 2022: $87,122,217Expenses 2022: $87,122,217Net Income 2022: $02022Revenue 2023: $84,757,035Expenses 2023: $84,757,035Net Income 2023: $02023Revenue 2024: $91,671,354Expenses 2024: $91,671,354Net Income 2024: $02024

Highlighted filing

2021

Revenue$84,026,536
Expenses$84,026,536
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 22, 2022
Return Version
2021v4.0
Gross Receipts
$84,026,536
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$128,880,915$132,854,769▲ $3,973,854
Rtn Earn Endowment Incm Other Fnds$108,005,752$113,513,038▲ $5,507,286
Prepaid Expenses and Deferred Charges$48,904,176$39,731,326▼ $9,172,850
Investments Program Related$28,940,457$30,543,154▲ $1,602,697
Savings and Temporary Cash Investments$5,000,000$9,000,000▲ $4,000,000
Accounts Receivable$8,236,726$8,163,037▼ $73,689
Cash and Non-Interest-Bearing Accounts$6,955,052$6,575,825▼ $379,227
Inventories for Sale or Use$744,422$839,471▲ $95,049
Cap Stk Tr Prin Current Funds$132,520$134,665▲ $2,145
Total Assets$227,687,212$227,728,767▲ $41,555
Other Assets Total$25,464$21,185▼ $4,279
Liabilities
Mortgage Notes Payable Secured by Investment Property$73,209,157$66,466,948▼ $6,742,209
Other Liabilities$38,705,484$42,312,534▲ $3,607,050
Accounts Payable and Accrued Expenses$7,634,299$5,301,582▼ $2,332,717
Total Liabilities$119,548,940$114,081,064▼ $5,467,876
Net Assets / Fund Balance
Total Net Assets Fund Balance$108,138,272$113,647,703▲ $5,509,431
Total Liabilities and Net Assets / Fund Balance$227,687,212$227,728,767▲ $41,555

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$132,768,363$65,284,825$198,053,188
Land$86,406-$86,406
Investment Program Related Org$270,262--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffrey W MurphyPresident &FT$704,158$86,356$790,514
Jeffrey W MurphyPresident & CEO-$332,229$458,285$790,514
Joel K BrownChief Oper.FT$226,122$70,632$296,754
Joel K BrownChief Oper. Officer-$218,803$77,951$296,754
Ralph P HerringOperations MFT$218,281$68,027$286,308
Ralph P HerringOperations Manager-$113,289$173,019$286,308
William Roger CampbellDistrict ManFT$192,312$53,067$245,379
William Roger CampbellDistrict Manager-$110,586$141,823$245,379
Russell E ShirleySenior VP, TFT$168,598$56,990$225,588
Russell E ShirleySenior VP, Tech Svcs-$160,457$65,131$225,588
Alison J HilleyExecutive asFT$137,046$48,532$185,578
Alison J HilleyExecutive Assistant-$85,849$99,729$185,578
Jerry SnowSec.-treas.PT$16,000-$16,000
Kay H ReedDirectorPT$12,800-$12,800
John M PeeplesDirectorPT$11,400-$11,400
Donnie a CordellDirectorPT$10,950-$10,950
Guerry HallVice ChairmaPT$10,950-$10,950
David M FlemingDirectorPT$10,450-$10,450
Galen MillsChairmanPT$8,350-$8,350

Highest Paid Contractors

ContractorServicesLocationCompensation
PikeElectric Cont.100 PIKE WAY, Mount Airy, NC 27030$1,876,865
The Davey Tree Expert CoRow Contractor6925 GILLELAND LN NW, Atlanta, GA 30360$1,165,428
Townsend Tree Svc INCRow Contractor1015 W JACKSON STREET, Muncie, IN 47305$555,801
Texas Meter And DeviceMeter Contract.300 S 8TH ST, Waco, TX 76701$473,896
Mcculloch Utility Svcs INCPole Inspection134 TALL PINES RD, Fountain Inn, SC 29644$406,060
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$82,093,226
Investment Income
$1,933,310
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$69,386,803
Salaries, Compensation, and Employee Benefits$864,384
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$13,775,349--$13,775,349
Depreciation Depletion$5,707,348--$5,707,348
All Other Expenses$2,798,624--$2,798,624
Other Expenses$2,534,910--$2,534,910
Interest$1,935,557--$1,935,557
Current Officers, Directors, Trustees, and Key Employees$864,384--$864,384
Total Functional Expenses$84,026,536$0$0$84,026,536
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
Regulatory Liabilites - Asc 980$29,250,000
Accum Prov for Pension & Benefits$9,870,731
Consumer Deposits$3,154,260
Deferred Credits$37,543
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 organization 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 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

Ceo compensation is reviewed and approved in accordance with compensation policies which are attached as a part of the form 990.

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

Key employees compensation is reviewed and approved in accordance with compensation policies which are attached as a part of the form 990.

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
Hart Electric Membership
EIN
58-0280657
Phone
8002414109
Address
PO BOX 250, HARTWELL, GA 30643

Signing Officer

Name
Jeffrey W Murphy
Title
President & CEO
Phone
7063764714
Signed
2022-07-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey W Murphy
Formed
1937
Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
122

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, Page 2, Part III, Line 4D

NA

Form 990, Part XI, Line 9

Patronage capital credits 13,775,349 donated capital/retired capital credits 1,164,651 capital credit retirements -gain 35,954 asc 980 - regulatory liability 3,500,000 membership fees 2,145 retirement of capital credits -5,833,345 asc 980 - regulatory liability -6,750,000 other comprehensive income -385,323 total 5,509,431

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JEFFREY W MURPHY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOEL K BROWN

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$283$144$139$91.7$91.7$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$255$125$130$84.8$84.8$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$243$115$128$87.1$87.1$0.00
2021Detailed filing. Detailed filing data is available for this year.$228$114$114$84.0$84.0$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$228$120$108$80.2$80.2$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$214$119$94.7$83.2$83.2$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$101$90.1$82.5$82.5$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$176$91.4$84.5$74.8$74.8$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$179$96.6$81.9$77.6$77.6$0.00
2015Summary only. Only limited summary data is available for this year.$180$106$73.7$77.8$77.8$0.00
2014Summary only. Only limited summary data is available for this year.$174$100$73.6$76.7$76.7$0.00
2013Summary only. Only limited summary data is available for this year.$160$91.8$68.0$70.4$70.4$0.00
2012Summary only. Only limited summary data is available for this year.$155$88.5$66.8$69.1$69.1$0.00
2011Summary only. Only limited summary data is available for this year.$153$89.2$63.8$71.0$71.0$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)12 • $100M-$250M nonprofits