Overview
What is French Broad Electric Membership Corporation?
French Broad Electric Membership Corporation is a North Carolina-based nonprofit organization primarily dedicated to the sale and distribution of electricity to its members. With a workforce of 128 employees, the corporation's largest expenditures include the cost of power, depreciation and amortization, and salaries and wages. Their mission focuses on ensuring the safe and effective delivery of electricity to their members.
Official website here: www.frenchbroademc.com
Is French Broad Electric Membership Corporation legitimate?
French Broad Electric Membership Corporation is a legitimate nonprofit organization registered as a 501(c)(12) entity. French Broad Electric Membership Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,498,696
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,941,246
For more financial information, click here
Official website here: www.frenchbroademc.com
What is the mission statement of French Broad Electric Membership Corporation?
The French Broad Electric Membership Corporation is dedicated to delivering safe and efficient electricity to its members. This commitment is reflected in both its activity and mission statements. The primary focus of the corporation is the provision of electricity, with the sale and distribution of this essential resource being its core business. Three major areas of expenditure for the corporation include the cost of power, depreciation and amortization, and salaries and wages. By prioritizing these areas, the French Broad Electric Membership Corporation ensures the reliable delivery of electricity to its members, enhancing their quality of life.
Official website here: www.frenchbroademc.com
Who is the CEO of French Broad Electric Membership Corporation?
Joseph G Justice is the President of French Broad Electric Membership Corporation.
Official website here: www.frenchbroademc.com
What is the revenue of French Broad Electric Membership Corporation?
French Broad Electric Membership Corporation's revenue in 2022 was $81,303,318.
Official website here: www.frenchbroademc.com
Who are the executives of French Broad Electric Membership Corporation and what are their salaries?
The average compensation at French Broad Electric Membership Corporation during 2022 was $97,187. There are 128 employees at French Broad Electric Membership Corporation.
Here are 21 key members and their salaries:
- Compensation: $393,427
- Related: $0
- Other: $231,049
- Compensation: $217,992
- Related: $0
- Other: $213,699
- Compensation: $213,442
- Related: $0
- Other: $207,025
- Compensation: $213,228
- Related: $0
- Other: $184,627
- Compensation: $176,791
- Related: $0
- Other: $110,515
- Compensation: $149,717
- Related: $0
- Other: $56,380
- Compensation: $180,039
- Related: $0
- Other: $23,257
- Compensation: $130,439
- Related: $0
- Other: $66,458
- Compensation: $131,914
- Related: $0
- Other: $62,889
- Compensation: $126,279
- Related: $0
- Other: $65,906
- Compensation: $37,186
- Related: $0
- Other: $0
- Compensation: $33,666
- Related: $0
- Other: $0
- Compensation: $32,466
- Related: $0
- Other: $0
- Compensation: $32,466
- Related: $0
- Other: $0
- Compensation: $31,097
- Related: $0
- Other: $0
- Compensation: $30,666
- Related: $0
- Other: $0
- Compensation: $30,630
- Related: $0
- Other: $0
- Compensation: $30,533
- Related: $0
- Other: $0
- Compensation: $30,533
- Related: $0
- Other: $0
- Compensation: $30,366
- Related: $0
- Other: $0
- Compensation: $17,292
- Related: $0
- Other: $0
Official website here: www.frenchbroademc.com
Where can I find the form 990 for French Broad Electric Membership Corporation?
French Broad Electric Membership Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.frenchbroademc.com
Learn more at the official website: www.frenchbroademc.com
Mission Statement of French Broad Electric Membership Corporation
French Broad Electric Membership Corporation (FBEMC) is dedicated to ensuring the safe and reliable delivery of electricity to its members. The organization's mission is centered around providing an effective and dependable electric service to its community of members.
FBEMC's primary focus is on the sale and distribution of electricity, which is reflected in its three largest program services. The first of these services is the cost of power, which accounts for a significant portion of the organization's expenses. This investment in electricity ensures that FBEMC can meet the energy needs of its members, enabling them to power their homes and businesses.
The second largest service area for FBEMC is depreciation and amortization. This financial commitment allows the organization to maintain and upgrade its infrastructure, ensuring that the electricity distribution system remains efficient and reliable.
Lastly, FBEMC places a high priority on its workforce, reflecting in the third largest service area, salaries and wages. The organization's employees are essential to the safe and effective distribution of electricity, and their expertise and dedication contribute to the organization's mission of serving its members.
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Impact
October, 2024
French Broad Electric Membership Corporation plays a crucial role in providing reliable and efficient electricity distribution to its members in the Marshall, North Carolina area. By focusing on the safe and effective delivery of power, the organization ensures that households and businesses can rely on a steady supply of electricity, which is essential for daily activities and economic growth.
With significant investments in program services, the corporation allocates resources to key areas such as the cost of power, depreciation and amortization, and salaries and wages. These expenditures reflect its commitment to maintaining high operational standards while directly benefiting the local community. By managing distribution effectively and addressing the maintenance and workforce needs, French Broad EMC enhances the quality of life for its members and supports regional development.
The impact of French Broad EMC extends beyond mere electricity distribution; it fosters a sense of community by prioritizing public benefit and ensuring that members receive personalized service and support. This local focus contributes to a sustainable energy future while also promoting economic vitality within the region.
This information is meant to be a general summary of French Broad Electric Membership Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $333,772
- Program Service Revenue: $75,243,881
- Gross Receipts: $81,304,130
Assets and Liabilities:
- Total Assets: $156,310,357
- Total Liabilities: $103,027,404
- Net Assets: $53,282,953
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE OF ELECTRICITY
Revenue
$74,092,420
CIAC
Revenue
$1,052,353
PATRONAGE ALLOCATIONS
Revenue
$99,108
Organization Details
Founding Year
1939
Phone
(828) 649-2051Principal Officer
Joseph G Justice
Main Address
PO BOX 9, MARSHALL, NC, 28753
Website
www.frenchbroademc.comNTEE Category
Code: W80 - Public benefit
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