Overview
What is Lumbee River Elec Membership Corp?
Lumbee River Elec Membership Corp, based in Pembroke, North Carolina (NC, ZIP code 28372), is a nonprofit organization dedicated to the reliable distribution of electricity to its members. The corporation's primary mission encompasses ensuring the safety and efficiency of electric power delivery. Among its significant programs, the cost of power acquisition accounts for the largest expense, followed by depreciation and salaries. The organization employs a team of 124 individuals to carry out its essential mission.
Official website here: www.lumbeeriver.com
Is Lumbee River Elec Membership Corp legitimate?
Lumbee River Elec Membership Corp is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lumbee River Elec Membership Corp 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: $661,004
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,798,121
For more financial information, click here
Official website here: www.lumbeeriver.com
What is the mission statement of Lumbee River Elec Membership Corp?
The Lumbee River Elec Membership Corp is committed to ensuring the safe and efficient distribution of electricity to its members. This dedication forms the core of the organization's mission. The corporation's primary services, as indicated by their expenses, include the cost of power, depreciation, and salaries. These investments reflect their commitment to maintaining a reliable electric supply for their members. By focusing on safety and effectiveness, Lumbee River Elec Membership Corp strives to meet the energy needs of its community in an unwavering manner. The corporation's efforts contribute significantly to the well-being and comfort of its members, enabling them to carry out their daily activities with ease.
Official website here: www.lumbeeriver.com
What is the revenue of Lumbee River Elec Membership Corp?
Lumbee River Elec Membership Corp's revenue in 2023 was $158,192,273.
Official website here: www.lumbeeriver.com
Who are the executives of Lumbee River Elec Membership Corp and what are their salaries?
The average compensation at Lumbee River Elec Membership Corp during 2023 was $83,037. There are 138 employees at Lumbee River Elec Membership Corp.
Here are 23 key members and their salaries:
- Compensation: $244,192
- Related: $0
- Other: $15,421
- Compensation: $147,261
- Related: $0
- Other: $106,778
- Compensation: $165,731
- Related: $0
- Other: $74,714
- Compensation: $150,276
- Related: $0
- Other: $72,068
- Compensation: $179,258
- Related: $0
- Other: $30,036
- Compensation: $178,134
- Related: $0
- Other: $17,870
- Compensation: $128,516
- Related: $0
- Other: $15,071
- Compensation: $27,404
- Related: $0
- Other: $0
- Compensation: $20,700
- Related: $0
- Other: $0
- Compensation: $20,100
- Related: $0
- Other: $0
- Compensation: $19,200
- Related: $0
- Other: $0
- Compensation: $18,900
- Related: $0
- Other: $0
- Compensation: $18,600
- Related: $0
- Other: $0
- Compensation: $18,300
- Related: $0
- Other: $0
- Compensation: $18,000
- Related: $0
- Other: $0
- Compensation: $16,200
- Related: $0
- Other: $0
- Compensation: $16,200
- Related: $0
- Other: $0
- Compensation: $15,000
- Related: $0
- Other: $0
- Compensation: $14,700
- Related: $0
- Other: $0
- Compensation: $14,000
- Related: $0
- Other: $0
- Compensation: $13,100
- Related: $0
- Other: $0
- Compensation: $3,700
- Related: $0
- Other: $0
- Compensation: $3,700
- Related: $0
- Other: $0
Official website here: www.lumbeeriver.com
Where can I find the form 990 for Lumbee River Elec Membership Corp?
Lumbee River Elec Membership Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lumbeeriver.com
Learn more at the official website: www.lumbeeriver.com
Mission Statement of Lumbee River Elec Membership Corp
Lumbee River Elec Membership Corp, or LREMC, is dedicated to ensuring the safe and efficient distribution of electricity to its members. The organization takes pride in its vital role, delivering a essential service with utmost care.
Central to LREMC's mission is the promise of a dependable power supply for its members. The corporation invests in various program services to maintain this commitment, with the largest three being the Cost of Power, Depreciation, and Salaries. The Cost of Power, amounting to over one hundred million dollars, covers the procurement and delivery of electricity to the members. Depreciation, totaling nearly thirteen million dollars, refers to the decrease in value of the corporation's assets over time. Lastly, the Salaries category, totaling almost nine million dollars, represents the wages paid to LREMC's dedicated team of employees who work tirelessly to ensure the consistent and secure delivery of electricity.
In summary, Lumbee River Elec Membership Corp is a steadfast organization that prioritizes the delivery of safe and reliable electricity to its members. Through its substantial investments in the Cost of Power, Depreciation, and Salaries, it continues to uphold its mission and provide an indispensable service to its community.
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Impact
October, 2024
Lumbee River Electric Membership Corporation (LREMC) plays a crucial role in providing safe and effective electricity distribution to its members in Pembroke, North Carolina. By ensuring reliable access to electrical power, LREMC supports the daily needs of its community, enhances quality of life, and fosters local economic development.
The organization's financial operations, including significant expenses related to the cost of power, depreciation, and employee salaries, highlight its commitment to maintaining infrastructure and investing in the workforce. These efforts not only allow for the effective delivery of energy but also contribute to job stability and growth in the region.
Overall, LREMC's impact extends beyond mere electricity supply; it acts as a vital resource for education, business, and residential areas, ultimately fostering a stronger and more connected community.
This information is meant to be a general summary of Lumbee River Elec Membership Corp. 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 2023.
- Investment Income: $183,422
- Program Service Revenue: $157,635,501
- Gross Receipts: $158,413,270
Assets and Liabilities:
- Total Assets: $369,886,144
- Total Liabilities: $207,060,706
- Net Assets: $162,825,438
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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
$155,444,925
CONTRIB IN AID OF CONSTR.
Revenue
$1,713,426
PATRONAGE CAPITAL REC.
Revenue
$477,150
Organization Details
Founding Year
1940
Principal Officer
Jon T Locklear
Website
www.lumbeeriver.comNTEE Category
Code: W80 - Public benefit
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