Civic Intelligence

Jackson Electric Membership Corporation

990 • Fiscal year 2024 • EIN 58-0301471

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 14, 2025

PO Box 38Jefferson, GA 30549-0038

(706) 367-5281

Siviq Scores

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

Liabilities / Assets

65th percentile

0.56x

Higher debt load relative to assets than 65% of similar nonprofits.

2024 filings • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

1.20x

Higher debt load relative to revenue than 65% of similar nonprofits.

2024 filings • $1B+ nonprofits • Source year 2024

Net Margin

22nd percentile

0.0%

Higher net margin than 22% of similar nonprofits.

2024 filings • $1B+ nonprofits • Source year 2024

Top Officer Pay

52nd percentile

$1,480,220

Higher top officer pay than 52% of similar nonprofits.

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

2024 filings • $1B+ nonprofits • Source year 2024

Asset Growth

58th percentile

7.7%

Faster asset growth than 58% of similar nonprofits.

2024 filings • $1B+ nonprofits • Annualized from 2023 to 2024

Revenue Growth

31st percentile

6.6%

Faster revenue growth than 31% of similar nonprofits.

2024 filings • $1B+ nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,478,512,220

Up $105,990,844 (+7.7%) from 2023

Net Assets

Up

$656,596,444

Up $35,913,811 (+5.8%) from 2023

Liabilities

Up

$821,915,776

Up $70,077,033 (+9.3%) from 2023

Revenue

Up

$685,551,827

Up $42,334,962 (+6.6%) from 2023

Expenses

Up

$685,551,827

Up $42,334,962 (+6.6%) from 2023

Net Income

Flat

$0

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $790,117,279Liabilities 2010: $498,076,699Net Assets 2010: $292,040,5802010Assets 2011: $832,806,637Liabilities 2011: $518,145,441Net Assets 2011: $314,661,1962011Assets 2012: $830,200,360Liabilities 2012: $499,734,570Net Assets 2012: $330,465,7902012Assets 2013: $872,514,175Liabilities 2013: $527,087,720Net Assets 2013: $345,426,4552013Assets 2014: $894,395,376Liabilities 2014: $529,905,530Net Assets 2014: $364,489,8462014Assets 2015: $956,630,878Liabilities 2015: $570,617,692Net Assets 2015: $386,013,1862015Assets 2016: $991,239,852Liabilities 2016: $576,134,342Net Assets 2016: $415,105,5102016Assets 2017: $1,032,413,919Liabilities 2017: $587,217,247Net Assets 2017: $445,196,6722017Assets 2018: $1,090,188,002Liabilities 2018: $620,524,867Net Assets 2018: $469,663,1352018Assets 2019: $1,129,645,634Liabilities 2019: $609,719,160Net Assets 2019: $519,926,4742019Assets 2020: $1,180,710,221Liabilities 2020: $636,225,208Net Assets 2020: $544,485,0132020Assets 2021: $1,224,303,203Liabilities 2021: $662,144,892Net Assets 2021: $562,158,3112021Assets 2022: $1,306,228,327Liabilities 2022: $720,377,713Net Assets 2022: $585,850,6142022Assets 2023: $1,372,521,376Liabilities 2023: $751,838,743Net Assets 2023: $620,682,6332023Assets 2024: $1,478,512,220Liabilities 2024: $821,915,776Net Assets 2024: $656,596,4442024

Highlighted filing

2024

Assets$1,478,512,220
Liabilities$821,915,776
Net Assets$656,596,444

Operations Trend

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

$800M$600M$400M$200M$0Expenses 2010: $443,251,4122010Expenses 2011: $467,007,5502011Expenses 2012: $465,036,3372012Revenue 2013: $472,013,311Expenses 2013: $472,013,311Net Income 2013: $02013Revenue 2014: $527,699,577Expenses 2014: $527,699,577Net Income 2014: $02014Revenue 2015: $541,487,777Expenses 2015: $541,487,777Net Income 2015: $02015Revenue 2016: $550,492,161Expenses 2016: $550,492,161Net Income 2016: $02016Revenue 2017: $548,251,493Expenses 2017: $548,251,493Net Income 2017: $02017Revenue 2018: $588,198,351Expenses 2018: $588,198,351Net Income 2018: $02018Revenue 2019: $612,612,090Expenses 2019: $612,612,090Net Income 2019: $02019Revenue 2020: $614,807,083Expenses 2020: $614,807,083Net Income 2020: $02020Revenue 2021: $616,720,445Expenses 2021: $616,720,445Net Income 2021: $02021Revenue 2022: $690,430,146Expenses 2022: $690,430,146Net Income 2022: $02022Revenue 2023: $643,216,865Expenses 2023: $643,216,865Net Income 2023: $02023Revenue 2024: $685,551,827Expenses 2024: $685,551,827Net Income 2024: $02024

Highlighted filing

2024

Revenue$685,551,827
Expenses$685,551,827
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.0
Gross Receipts
$685,551,827
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$906,392,436$971,733,195▲ $65,340,759
Rtn Earn Endowment Incm Other Fnds$616,541,963$652,332,999▲ $35,791,036
Investments Program Related$261,784,813$283,843,730▲ $22,058,917
Accounts Receivable$66,166,061$75,134,203▲ $8,968,142
Savings and Temporary Cash Investments$66,000,000$63,500,000▼ $2,500,000
Inventories for Sale or Use$41,657,907$55,485,276▲ $13,827,369
Cash and Non-Interest-Bearing Accounts$28,437,026$25,641,976▼ $2,795,050
Cap Stk Tr Prin Current Funds$4,140,670$4,263,445▲ $122,775
Prepaid Expenses and Deferred Charges$1,529,808$1,627,857▲ $98,049
Total Assets$1,372,521,376$1,478,512,220▲ $105,990,844
Other Assets Total$553,325$1,545,983▲ $992,658
Liabilities
Mortgage Notes Payable Secured by Investment Property$562,176,044$622,330,114▲ $60,154,070
Other Liabilities$124,628,264$136,410,552▲ $11,782,288
Accounts Payable and Accrued Expenses$65,034,435$63,175,110▼ $1,859,325
Total Liabilities$751,838,743$821,915,776▲ $70,077,033
Net Assets / Fund Balance
Total Net Assets Fund Balance$620,682,633$656,596,444▲ $35,913,811
Total Liabilities and Net Assets / Fund Balance$1,372,521,376$1,478,512,220▲ $105,990,844

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$939,408,690$437,053,750$1,376,462,440
Buildings$22,278,193$40,677,382$62,955,575
Land$10,046,312-$10,046,312
Investment Program Related Org$-9,892--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Roy a StoweExecutive-coFT$1,302,141$178,079$1,480,220
Roy a StoweExecutive-COO-$1,221,287$258,933$1,480,220
Ernest a Chip Jakins IiiExecutive-ceFT$846,221$250,916$1,097,137
Ernest a Chip Jakins IiiExecutive-CEO-$823,966$273,171$1,097,137
Joseph L DoroughVP-engineeriFT$502,621$149,648$652,269
Joseph L DoroughVP-engineering/oper-$453,766$198,503$652,269
Preston L ChapmanExec VP/extFT$414,241$133,882$548,123
Preston L ChapmanExec VP/ext Affrs-$376,984$171,139$548,123
Amy W RouseExec VP/corpFT$395,878$135,936$531,814
Amy W RouseExec VP/corp Svcs-$375,225$156,589$531,814
Brittany CaisonEvp-eng./opsFT$355,094$133,901$488,995
Brittany CaisonEvp-eng./ops. & Tech-$327,757$161,238$488,995
Rodney ChandlerChairman-$54,806-$54,806
Lynn PriceVice Chairma-$50,806-$50,806
Otis JonesDirector-$40,635-$40,635
Shade StoreySecretary/tr-$25,750-$25,750
Sarah MckinneyDirector-$23,500-$23,500
Steve BlairDirector-$23,125-$23,125
Charles B SteeleDirector-ret-$22,317-$22,317
Alton ThorntonDirector-$20,125-$20,125
Phillip SuttonDirector-$20,000-$20,000
Alex HillDirector-$3,500-$3,500

Highest Paid Contractors

ContractorServicesLocationCompensation
Pike Electric LLCLine Const.PO BOX 746308, Atlanta, GA 30374-6308$9,381,100
Power Supply Company LLCElectric Dist.PO BOX 5408, Chattanooga, TN 37406$5,981,039
Higher Power ElectricalConstruction14201 CALIBER DR STE 300, Oklahoma City, OK 73134$3,069,417
Southern Fiber Company LLCConstruction1563 CALVARY CHURCH RD, Gainesville, GA 30548$2,781,312
Townsend Tree Service Co LLCRight-of-wayPO BOX 7015, Muncie, IN 47308$2,705,863
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$677,044,804
Investment Income
$5,425,159
Other Revenue
$3,081,864
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$628,836,311
Salaries, Compensation, and Employee Benefits$1,381,700
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$55,333,816
Depreciation Depletion---$45,107,491
All Other Expenses---$33,521,244
Interest---$18,876,216
Other Expenses---$18,458,262
Current Officers, Directors, Trustees, and Key Employees---$1,381,700
Office Expenses---$1,101,868
Total Functional Expenses$0$0$0$685,551,827
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$102,808,912
Consumer Deposits$19,400,537
Acc. Prov. for Postretirement$14,201,103
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 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

Compensation for the ceo 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 15B

Compensation for key employees 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 19

The cooperative makes its bylaws, conflict of interest policy, and financial statements available to the public as part of its 990. The form 990 is available upon request.

Filing and Contact Details

Filer

Filer Name
Jackson Electric Membership
EIN
58-0301471
Phone
7063675281
Address
PO BOX 38, JEFFERSON, GA 30549-0038

Signing Officer

Name
Ernest a Chip Jakins Iii
Title
Executive-CEO
Phone
7063676115
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ernest a Chip Jakins Iii
Formed
1938
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
9
Employees
534

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

Patronage capital 55,333,816 membership fees 122,775 unclaimed capital credits 93,601 capital credit retirements -15,999,948 asc 980 - revenue deferral -3,500,000 donated capital -136,433 total 35,913,811

Financial Statement Notes

Schedule D, Page 4, Part XIII

The corporation's financial statements were audited as of may 31, 2024 and 2023.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,479$822$657$686$686$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,373$752$621$643$643$0.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,306$720$586$690$690$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,224$662$562$617$617$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,181$636$544$615$615$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,130$610$520$613$613$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,090$621$470$588$588$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,032$587$445$548$548$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$991$576$415$550$550$0.00
2015Detailed filing. Detailed filing data is available for this year.$957$571$386$541$541$0.00
2014Detailed filing. Detailed filing data is available for this year.$894$530$364$528$528$0.00
2013Detailed filing. Detailed filing data is available for this year.$873$527$345$472$472$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$830$500$330$465
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$833$518$315$467
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$790$498$292$443
Peer Organizations

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