Civic Intelligence

Baldwin County Electric Membership Corporation

990 • Fiscal year 2017 • EIN 63-0014658

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 25, 2018

PO Box 220Summerdale, AL 36580-0220

(251) 989-6247

Siviq Scores

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

Liabilities / Assets

38th percentile

0.57x

Higher debt load relative to assets than 38% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

33rd percentile

1.09x

Higher debt load relative to revenue than 33% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Net Margin

81st percentile

3.9%

Higher net margin than 81% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

32nd percentile

$417,064

Higher top officer pay than 32% of similar nonprofits.

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

2017 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2017

Asset Growth

62nd percentile

3.1%

Faster asset growth than 62% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

60th percentile

2.7%

Faster revenue growth than 60% of similar nonprofits.

2017 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Assets

Up

$302,641,269

Up $9,217,678 (+3.1%) from 2016

Net Assets

Up

$128,648,383

Up $6,001,682 (+4.9%) from 2016

Liabilities

Up

$173,992,886

Up $3,215,996 (+1.9%) from 2016

Revenue

Up

$159,997,076

Up $4,189,699 (+2.7%) from 2016

Expenses

Up

$153,764,740

Up $5,398,008 (+3.6%) from 2016

Net Income

Down

$6,232,336

Down $1,208,309 (-16%) from 2016

Historical Trend

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2010: $234,041,412Liabilities 2010: $145,100,512Net Assets 2010: $88,940,9002010Assets 2011: $248,468,751Liabilities 2011: $152,892,542Net Assets 2011: $95,576,2092011Assets 2012: $256,472,268Liabilities 2012: $153,023,390Net Assets 2012: $103,448,8782012Assets 2013: $274,155,485Liabilities 2013: $163,370,785Net Assets 2013: $110,784,7002013Assets 2014: $284,120,116Liabilities 2014: $170,619,559Net Assets 2014: $113,500,5572014Assets 2015: $279,944,319Liabilities 2015: $165,183,262Net Assets 2015: $114,761,0572015Assets 2016: $293,423,591Liabilities 2016: $170,776,890Net Assets 2016: $122,646,7012016Assets 2017: $302,641,269Liabilities 2017: $173,992,886Net Assets 2017: $128,648,3832017Assets 2018: $310,432,205Liabilities 2018: $175,687,158Net Assets 2018: $134,745,0472018Assets 2019: $318,556,428Liabilities 2019: $176,947,160Net Assets 2019: $141,609,2682019Assets 2020: $359,848,505Liabilities 2020: $215,949,596Net Assets 2020: $143,898,9092020Assets 2021: $367,049,686Liabilities 2021: $213,429,612Net Assets 2021: $153,620,0742021Assets 2022: $361,094,630Liabilities 2022: $201,053,632Net Assets 2022: $160,040,9982022Assets 2023: $376,877,285Liabilities 2023: $212,195,136Net Assets 2023: $164,682,1492023Assets 2024: $387,386,939Liabilities 2024: $216,684,381Net Assets 2024: $170,702,5582024

Highlighted filing

2017

Assets$302,641,269
Liabilities$173,992,886
Net Assets$128,648,383

Operations Trend

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

$300M$200M$100M$0Expenses 2010: $144,009,4322010Expenses 2011: $144,095,6602011Revenue 2012: $148,122,481Expenses 2012: $141,650,325Net Income 2012: $6,472,1562012Revenue 2013: $148,212,404Expenses 2013: $141,652,868Net Income 2013: $6,559,5362013Revenue 2014: $158,360,246Expenses 2014: $156,215,321Net Income 2014: $2,144,9252014Revenue 2015: $151,506,848Expenses 2015: $150,687,877Net Income 2015: $818,9712015Revenue 2016: $155,807,377Expenses 2016: $148,366,732Net Income 2016: $7,440,6452016Revenue 2017: $159,997,076Expenses 2017: $153,764,740Net Income 2017: $6,232,3362017Revenue 2018: $169,102,063Expenses 2018: $163,833,220Net Income 2018: $5,268,8432018Revenue 2019: $169,762,339Expenses 2019: $164,110,648Net Income 2019: $5,651,6912019Revenue 2020: $164,972,070Expenses 2020: $163,076,299Net Income 2020: $1,895,7712020Revenue 2021: $178,280,689Expenses 2021: $168,710,110Net Income 2021: $9,570,5792021Revenue 2022: $195,242,494Expenses 2022: $193,470,762Net Income 2022: $1,771,7322022Revenue 2023: $203,404,619Expenses 2023: $199,754,073Net Income 2023: $3,650,5462023Revenue 2024: $223,320,389Expenses 2024: $217,635,169Net Income 2024: $5,685,2202024

Highlighted filing

2017

Revenue$159,997,076
Expenses$153,764,740
Net Income$6,232,336
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 25, 2018
Return Version
2017v2.3
Gross Receipts
$159,997,076
Mission and Program Overview

Mission

Rural electric cooperative serving baldwin and monroe counties in alabama.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$199,848,339$204,866,654▲ $5,018,315
Rtn Earn Endowment Incm Other Fnds$122,363,626$128,357,363▲ $5,993,737
Investments Program Related$59,144,576$61,099,291▲ $1,954,715
Accounts Receivable$13,891,425$15,793,495▲ $1,902,070
Savings and Temporary Cash Investments$9,165,765$10,511,469▲ $1,345,704
Inventories for Sale or Use$5,838,688$5,684,325▼ $154,363
Cap Stk Tr Prin Current Funds$283,075$291,020▲ $7,945
Prepaid Expenses and Deferred Charges$98,840$104,359▲ $5,519
Total Assets$293,423,591$302,641,269▲ $9,217,678
Other Assets Total$5,435,958$4,581,676▼ $854,282
Liabilities
Mortgage Notes Payable Secured by Investment Property$122,252,801$116,186,684▼ $6,066,117
Other Liabilities$23,793,360$31,090,414▲ $7,297,054
Accounts Payable and Accrued Expenses$18,018,272$20,179,957▲ $2,161,685
Tax Exempt Bond Liabilities$6,712,457$6,535,831▼ $176,626
Total Liabilities$170,776,890$173,992,886▲ $3,215,996
Net Assets / Fund Balance
Total Net Assets Fund Balance$122,646,701$128,648,383▲ $6,001,682
Total Liabilities and Net Assets / Fund Balance$293,423,591$302,641,269▲ $9,217,678

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,000--
Other Land Buildings$204,866,654$87,050,042-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen L MooreCEOFT$288,610$128,454$417,064
A Clyde AbramsVP Admin SerFT$254,747$86,416$341,163
A Clyde AbramsVP Admin Services-$210,731$130,432$341,163
Alan L SchottVP Fin/accFT$206,663$97,816$304,479
William Jody TaylorVP OperationFT$209,853$82,507$292,360
William Jody TaylorVP Operations-$199,451$92,909$292,360
Steven Kent IrvinVP EngineeriFT$172,432$69,415$241,847
Steven Kent IrvinVP Engineering-$159,941$81,906$241,847
Mark IngramVP Energy SeFT$162,172$63,130$225,302
Mark IngramVP Energy Services-$160,593$64,709$225,302
Sue CampbellManager HrFT$148,690$72,380$221,070
W Brian SealsManager EngiFT$135,542$57,871$193,413
W Brian SealsManager Engineering-$124,684$68,729$193,413
Peggy Vanover-barnesPresidentFT$65,167$17,000$82,167
Robert KaiserDirectorPT$56,914$16,809$73,723
Chad GraceDirectorPT$56,203$17,025$73,228
Joseph ColemanDirectorPT$47,527$17,000$64,527
Aubury L FullerDirectorPT$44,539$16,935$61,474
Jimmy LafoySecretary/trPT$43,053$17,000$60,053
Tommie WernethVice-presidePT$40,904$16,983$57,887

Highest Paid Contractors

ContractorServicesLocationCompensation
Mdr ConstructionOvhd Conductor621 EAST BAYLIS CHAPEL RD, Columbia, MS 39429$1,233,739
Ryland's Underground ServiceWire RepairP O BOX 1265, Fairhope, AL 36533$1,204,997
NiscSoftware & SuppP O BOX 1147, Mandan, ND 58554$421,409
Asplundh Tree ExpertRow ClearingPO BOX 532729, Atlanta, GA 30353$338,557
Pinnacle Data Systems LLCBill Print/mailPO BOX 102017, Birmingham, AL 35210$315,072
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$157,360,430
Investment Income
$98,112
Other Revenue
$2,538,534
Change in Net Assets
$6,232,336

Audited Revenue Reconciliation

Revenue per Audited Statements
$159,997,076
Total Revenue per Audited Statements
$159,997,076
Total Revenue per Form 990
$159,997,076
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$148,058,463
Salaries, Compensation, and Employee Benefits$2,104,689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$10,677,563
All Other Expenses---$8,762,028
Other Expenses---$5,301,034
Interest---$4,658,575
Benefits to Members---$3,601,588
Current Officers, Directors, Trustees, and Key Employees---$1,215,005
Other Salaries and Wages---$889,684
Total Functional Expenses$0$0$0$153,764,740

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$153,764,740
Expenses per Audited Statements$150,163,152
Total Expenses per Audited Statements$150,163,152
Expenses Not Reported on Financial Statements$3,601,588
Other Expense Adjustments$3,601,588
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
Line of Credit$13,500,000
Consumer Deposits$6,652,225
Postretirement Benefits$6,079,062
Other Deferrred Credits$4,859,127

Bond Issues

BondIssuerIssuedIssue PricePurpose
AGulf Opportunity Zone Bonds2008-07-01$7,900,465-

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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 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

Member owned corporation.

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

Board of directors are elected by the members.

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

Bylaw changes, election of board of directors and sale of cooperative.

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

Management presents the tax return to the board for review prior to filing.

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

Officer, directors or trustees, and key employees are required to notify management or the board as potential conflicts arise. The corporation reviews all payments and each supervisor determines if a potential conflict should be considered.

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

The corporation uses an independent consultant who presents a compensation comparision for all positions at the corporation; this comparison is the basis for compensation.

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

The corporation uses an independent consultant who presents a compensation comparision for all positions at the corporation; this comparison is the basis for compensation.

Form 990, Page 6, Part VI, Line 19

Documents are available for inspection in summerdale, al upon request. Bylaws and annual report available online on the company website.

Filing and Contact Details

Filer

Filer Name
Baldwin County Electric Membership
EIN
63-0014658
Phone
2519896247
Address
PO BOX 220, SUMMERDALE, AL 36580-0220

Signing Officer

Name
Karen L Moore
Title
CEO
Phone
2519896247
Signed
2018-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen L Moore
Legal Domicile
Al
Voting Board Members
7
Independent Board Members
7
Employees
233

Preparer

Firm
Gruenloh & Associates Pc
Address
PO BOX 895, ROBERTSDALE, AL 36567
Preparer
Wayne a Gruenloh
Phone
2519471040
Supplemental Narrative

Additional Explanations

Form 990

Part ix, line 4 - retirement of capital credits disclosed represent the retirement of patronage capital allocated in prior years which were paid to members in the current year.

Form 990, Page 2, Part III, Line 4D

Provided electric service to an average of 74,168 customers in the rural areas of baldwin and monroe counties in alabama.

Form 990, Part XI, Line 9

Change in memberships 7,945 unclaimed capital credit checks -238,599 total -230,654

Financial Statement Notes

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

Retirement of capital credits paid 3,601,588

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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE-PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt7CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8VP FIN/ACC
IRS990/Form990PartVIISectionAGrp/TitleTxt9VP OPERATION
IRS990/Form990PartVIISectionAGrp/TitleTxt10VP ADMIN SER
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP ENGINEERI
IRS990/Form990PartVIISectionAGrp/TitleTxt12MANAGER HR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14MANAGER ENGI
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IRS990/OtherExpensesGrp/Desc1DISTRIBUTION- MAINTENANCE
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IRS990/OtherExpensesGrp/Desc3CONSUMER ACCOUNTS
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IRS990/OtherRevenueMiscGrp/Desc1OTHER NON OPERATING INCOME
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IRS990/PrincipalOfficerNm0KAREN L MOORE
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IRS990/PYTotalRevenueAmt0155807377
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4629134
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt5282594
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt6219372
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0PATRONAGE CAP - POWERSOUTH
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2INVESTMENT - NRUCFC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3INVESTMENT - CO-BANK
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4INVESTMENT - FED. RURAL ELECTRIC INS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5PATRONAGE CAP - NRUCFC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6PATRONAGE CAP - UNITED UTILITY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7PATRONAGE CAP - NISC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc8PATRONAGE CAP - NRTC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc9PATRONAGE CAP - ARKANSAS ELECTRIC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc10INVESTMENT - NRTC
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd7C
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IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0291916696
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013500000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16652225
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt26079062
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt34859127
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LINE OF CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CONSUMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2POSTRETIREMENT BENEFITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3OTHER DEFERRRED CREDITS
IRS990ScheduleD/RevenueSubtotalAmt0159997076
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RETIREMENT OF CAPITAL CREDITS PAID 3,601,588
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalBookValueProgramRltdAmt061099291
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IRS990ScheduleD/TotalLiabilityAmt031090414
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2199451
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3210731
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt4159941
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt5148690

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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.$387$217$171$223$218$5.69
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$377$212$165$203$200$3.65
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$361$201$160$195$193$1.77
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$367$213$154$178$169$9.57
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$360$216$144$165$163$1.90
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$319$177$142$170$164$5.65
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$310$176$135$169$164$5.27
2017Detailed filing. Detailed filing data is available for this year.$303$174$129$160$154$6.23
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$293$171$123$156$148$7.44
2015Detailed filing. Detailed filing data is available for this year.$280$165$115$152$151$0.82
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$284$171$114$158$156$2.14
2013Detailed filing. Detailed filing data is available for this year.$274$163$111$148$142$6.56
2012Summary only. Only limited summary data is available for this year.$256$153$103$148$142$6.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$248$153$95.6$144
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$234$145$88.9$144