Civic Intelligence

Flint Electric Membership Corporation

990 • Fiscal year 2019 • EIN 58-0456574

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 15, 2020

PO Box 308 3 S Macon StReynolds, GA 31076

(478) 847-3415

Siviq Scores

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

Liabilities / Assets

56th percentile

0.61x

Higher debt load relative to assets than 56% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

26th percentile

1.03x

Higher debt load relative to revenue than 26% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Net Margin

53rd percentile

0.0%

Higher net margin than 53% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

59th percentile

$583,757

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2019

Asset Growth

39th percentile

2.3%

Faster asset growth than 39% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

38th percentile

-1.6%

Faster revenue growth than 38% of similar nonprofits.

2019 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Assets

Up

$381,623,901

Up $8,664,183 (+2.3%) from 2018

Net Assets

Up

$149,538,178

Up $4,221,144 (+2.9%) from 2018

Liabilities

Up

$232,085,723

Up $4,443,039 (+2.0%) from 2018

Revenue

Down

$225,580,479

Down $3,670,623 (-1.6%) from 2018

Expenses

Down

$225,580,479

Down $3,670,623 (-1.6%) from 2018

Net Income

Flat

$0

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2010: $298,452,956Liabilities 2010: $192,247,723Net Assets 2010: $106,205,2332010Assets 2011: $302,769,023Liabilities 2011: $191,011,219Net Assets 2011: $111,757,8042011Assets 2012: $331,907,031Liabilities 2012: $217,016,891Net Assets 2012: $114,890,1402012Assets 2013: $348,521,673Liabilities 2013: $232,734,629Net Assets 2013: $115,787,0442013Assets 2014: $329,076,913Liabilities 2014: $209,914,158Net Assets 2014: $119,162,7552014Assets 2015: $327,725,385Liabilities 2015: $206,274,277Net Assets 2015: $121,451,1082015Assets 2016: $335,957,050Liabilities 2016: $210,530,866Net Assets 2016: $125,426,1842016Assets 2017: $360,493,166Liabilities 2017: $218,805,195Net Assets 2017: $141,687,9712017Assets 2018: $372,959,718Liabilities 2018: $227,642,684Net Assets 2018: $145,317,0342018Assets 2019: $381,623,901Liabilities 2019: $232,085,723Net Assets 2019: $149,538,1782019Assets 2020: $389,155,351Liabilities 2020: $235,847,986Net Assets 2020: $153,307,3652020Assets 2021: $399,054,796Liabilities 2021: $247,388,139Net Assets 2021: $151,666,6572021Assets 2022: $439,600,941Liabilities 2022: $283,971,017Net Assets 2022: $155,629,9242022Assets 2023: $484,003,601Liabilities 2023: $322,667,644Net Assets 2023: $161,335,9572023Assets 2024: $541,362,244Liabilities 2024: $376,196,170Net Assets 2024: $165,166,0742024

Highlighted filing

2019

Assets$381,623,901
Liabilities$232,085,723
Net Assets$149,538,178

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $170,230,7492010Expenses 2011: $187,609,0712011Expenses 2012: $174,961,7932012Revenue 2013: $188,502,225Expenses 2013: $188,502,224Net Income 2013: $12013Revenue 2014: $195,693,557Expenses 2014: $195,693,557Net Income 2014: $02014Revenue 2015: $193,593,699Expenses 2015: $194,117,322Net Income 2015: -$523,6232015Revenue 2016: $203,074,705Expenses 2016: $202,551,082Net Income 2016: $523,6232016Revenue 2017: $213,416,859Expenses 2017: $213,416,859Net Income 2017: $02017Revenue 2018: $229,251,102Expenses 2018: $229,251,102Net Income 2018: $02018Revenue 2019: $225,580,479Expenses 2019: $225,580,479Net Income 2019: $02019Revenue 2020: $218,071,463Expenses 2020: $218,071,463Net Income 2020: $02020Revenue 2021: $228,845,858Expenses 2021: $228,845,858Net Income 2021: $02021Revenue 2022: $250,834,907Expenses 2022: $251,490,391Net Income 2022: -$655,4842022Revenue 2023: $250,058,643Expenses 2023: $250,058,643Net Income 2023: $02023Revenue 2024: $266,593,854Expenses 2024: $266,593,854Net Income 2024: $02024

Highlighted filing

2019

Revenue$225,580,479
Expenses$225,580,479
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 15, 2020
Return Version
2019v5.0
Gross Receipts
$225,580,479
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$292,688,577$297,488,579▲ $4,800,002
Rtn Earn Endowment Incm Other Fnds$144,463,714$148,678,003▲ $4,214,289
Accounts Receivable$29,771,702$26,359,681▼ $3,412,021
Investments Program Related$22,970,324$23,474,437▲ $504,113
Savings and Temporary Cash Investments$13,200,613$19,177,154▲ $5,976,541
Cash and Non-Interest-Bearing Accounts$4,285,860$5,053,001▲ $767,141
Inventories for Sale or Use$4,009,172$4,584,233▲ $575,061
Prepaid Expenses and Deferred Charges$3,908,055$3,097,024▼ $811,031
Cap Stk Tr Prin Current Funds$853,320$860,175▲ $6,855
Total Assets$372,959,718$381,623,901▲ $8,664,183
Other Assets Total$2,125,415$2,389,792▲ $264,377
Liabilities
Tax Exempt Bond Liabilities$183,059,064$189,278,043▲ $6,218,979
Other Liabilities$23,335,676$21,818,955▼ $1,516,721
Accounts Payable and Accrued Expenses$21,247,944$20,988,725▼ $259,219
Total Liabilities$227,642,684$232,085,723▲ $4,443,039
Net Assets / Fund Balance
Total Net Assets Fund Balance$145,317,034$149,538,178▲ $4,221,144
Total Liabilities and Net Assets / Fund Balance$372,959,718$381,623,901▲ $8,664,183

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$290,497,486$156,192,208$446,689,694
Land$6,991,093-$6,991,093
Investment Program Related Org$11,026--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert F Ray JrPresident &FT$446,969$136,788$583,757
Robert F Ray JrPresident & CEO-$422,629$161,128$583,757
Ty DiamondCOOFT$245,391$109,462$354,853
Anissa DerieuxCFOFT$219,784$89,490$309,274
Karen GarzaSr VP Corp SFT$178,947$61,707$240,654
Karen GarzaSr VP Corp Services-$154,575$86,079$240,654
James RogersManager of EFT$168,373$58,963$227,336
James RogersManager of Eng-$137,989$89,347$227,336
Mike WallisVP TechnologFT$168,972$52,221$221,193
Mike WallisVP Technology & Comm-$155,025$66,168$221,193
Neal L TaltonChairmanPT$32,893-$32,893
Donald ChaseDirectorPT$32,881-$32,881
David H ClevelandVice ChairmaPT$27,185-$27,185
Clarence Robinson JrDirector-$25,296-$25,296
Arthur HeadDirector-$25,123-$25,123
Leighton CooleyDirector-$24,938-$24,938
Jeff WainwrightSecretary/tr-$24,673-$24,673
Jane PerfectAssistant Se-$23,609-$23,609
Patrick J BraskiDirector-$23,103-$23,103

Highest Paid Contractors

ContractorServicesLocationCompensation
Harper's Treestump RemovalRight Of Way2798 SR 26 E, Ellaville, GA 31806$971,192
C&s Cleaning LLCCleaning Serv.105 WILLINGTON CT, Warner Robins, GA 31088$164,662
Taylor County Yard ServiceErosion ControlPO BOX 883, Reynolds, GA 31076$150,804
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$223,320,031
Investment Income
$2,260,448
Other Revenue
$0
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$225,580,479
Revenue Not Reported on Form 990
$825,000
Total Revenue per Audited Statements
$226,405,479
Total Revenue per Form 990
$225,580,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$217,409,538
Salaries, Compensation, and Employee Benefits$823,458
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$14,648,234
All Other Expenses---$11,960,476
Other Expenses---$8,790,285
Benefits to Members---$7,347,483
Interest---$7,103,867
Current Officers, Directors, Trustees, and Key Employees---$823,458
Total Functional Expenses$0$0$0$225,580,479

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$225,580,479
Expenses per Audited Statements$218,232,996
Total Expenses per Audited Statements$218,232,996
Expenses Not Reported on Financial Statements$7,347,483
Other Expense Adjustments$7,347,483
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$10,195,000
Consumer Deposits$6,692,084
Contributions in Aid$4,226,963
Deferred Compensation$688,218
Other$16,690
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 included as a part of this return.

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

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 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

Compensation for the ceo is reviewed and approved by the corporation's board of directors and compensation committee through the use of form 990 information of other cooperatives, a compensation survey, and a performance review.

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

Compensation for key employees is reviewed and approved through the use of form 990 information of other cooperatives, a compensation survey, and a performance review.

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
Flint Electric Membership
EIN
58-0456574
Phone
4788473415
Address
PO BOX 308 3 S MACON ST, REYNOLDS, GA 31076

Signing Officer

Name
Robert F Ray Jr
Title
President & CEO
Phone
4788473415
Signed
2020-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert F Ray Jr
Formed
1937
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
9
Employees
245

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
William R Rountree
Phone
4787466277
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change in membership fees 6,855 retired capital credit-gains 1,558,838 asc 980 deferred revenue recognized 825,000 patronage capital assigned 7,347,483 patronage capital retired -5,202,104 other comprehensive loss -74,148 donated capital -240,780 total 4,221,144

Financial Statement Notes

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

Asc 980 deferred revenue transactions 825,000

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

Patronage capital credits 7,347,483

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IRS990/Form990PartVIISectionAGrp/TitleTxt3ASSISTANT SE
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT &
IRS990/Form990PartVIISectionAGrp/TitleTxt10COO
IRS990/Form990PartVIISectionAGrp/TitleTxt11CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt12MANAGER OF E
IRS990/Form990PartVIISectionAGrp/TitleTxt13SR VP CORP S
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP TECHNOLOG
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt913047
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0GTC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1CFC MEMBER CAPITAL SECURITIES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2GRESCO
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3FEDERATED
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4SEDC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5SPECIAL FUNDS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6SMARR EMC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7COBANK
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc8CRC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc9NRTC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc10GREEN POWER
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REGULATORY LIABILITES - ASC 980
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CONSUMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONTRIBUTIONS IN AID
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DEFERRED COMPENSATION
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IRS990ScheduleD/RevenueNotReportedAmt0825000
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ASC 980 DEFERRED REVENUE TRANSACTIONS 825,000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PATRONAGE CAPITAL CREDITS 7,347,483
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount47896
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt56329

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$541$376$165$267$267$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$484$323$161$250$250$0.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$440$284$156$251$251$0.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$399$247$152$229$229$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$389$236$153$218$218$0.00
2019Detailed filing. Detailed filing data is available for this year.$382$232$150$226$226$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$373$228$145$229$229$0.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$360$219$142$213$213$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$336$211$125$203$203$0.52
2015Detailed filing. Detailed filing data is available for this year.$328$206$121$194$194$0.52
2014Detailed filing. Detailed filing data is available for this year.$329$210$119$196$196$0.00
2013Detailed filing. Detailed filing data is available for this year.$349$233$116$189$189$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$332$217$115$175
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$303$191$112$188
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$298$192$106$170