Overview
What is Union Electric Membership Corp?
Union Electric Membership Corp, also known as Union Power Cooperative, is a North Carolina-based nonprofit organization committed to providing Union members and their communities with safe and reliable electric power and energy services. With a workforce of 155 employees, Union Power Cooperative boasts three major program services: power procurement, depreciation, and salaries. Their mission is to enhance the quality of life for their members and the communities they serve by keeping their promise to deliver exceptional electric power and energy solutions.
Official website here: www.union-power.com
What are the reviews and ratings of this charity?
Union Electric Membership Corp is not rated by Charity Navigator due to its classification as an organization that is not a 501(c)(3) IRS registered nonprofit. Charity Navigator's evaluations primarily focus on organizations with such a status, which limits their ability to assess Union Electric Membership Corp using their standard methodologies. This absence of a rating should not be seen as an indicator of negative or positive performance.
Charity Navigator’s rating criteria historically focused on Accountability and Finance, but today includes various dimensions like Leadership, Culture, and Impact, all of which are currently not applicable to Union Electric Membership Corp because of its IRS classification. Consequently, no financial data such as revenue or expenses is available from Charity Navigator for this entity.
There are no user reviews available from GreatNonprofits, which leaves a gap in firsthand customer feedback and public testimonial insights. Without these user reviews, prospective supporters or affiliates may need to rely on other resources or direct engagement with the organization for further understanding of its operations and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Union Electric Membership Corp legitimate?
Union Electric Membership Corp is a legitimate nonprofit organization registered as a 501(c)(12) entity. Union Electric 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: $2,608,723
Professional Fundraising Fees: $0
Other Salaries and Wages: $12,862,211
For more financial information, click here
Official website here: www.union-power.com
What is the mission statement of Union Electric Membership Corp?
Union Electric Membership Corp is dedicated to enhancing the quality of life of its members and the communities it serves. The corporation fulfills this commitment by delivering safe and reliable electric power and energy services with exceptional value. Through its operations, Union Electric Membership Corp focuses on ensuring the effective distribution of electricity to its members, with its largest program expenses being the cost of power, depreciation, and salaries. The corporation's mission reflects its promise to provide essential electric services, ensuring a higher standard of living for its members.
Official website here: www.union-power.com
Who is the CEO of Union Electric Membership Corp?
Gregory S Andress is the Evp Vp & Gen of Union Electric Membership Corp.
Official website here: www.union-power.com
What is the revenue of Union Electric Membership Corp?
Union Electric Membership Corp's revenue in 2022 was $177,639,808.
Official website here: www.union-power.com
Who are the executives of Union Electric Membership Corp and what are their salaries?
The average compensation at Union Electric Membership Corp during 2022 was $99,812. There are 155 employees at Union Electric Membership Corp.
Here are 18 key members and their salaries:
- Compensation: $678,194
- Related: $0
- Other: $376,717
- Compensation: $332,665
- Related: $0
- Other: $169,127
- Compensation: $297,430
- Related: $0
- Other: $161,758
- Compensation: $314,453
- Related: $0
- Other: $133,893
- Compensation: $190,785
- Related: $0
- Other: $135,808
- Compensation: $202,439
- Related: $0
- Other: $118,958
- Compensation: $200,248
- Related: $0
- Other: $101,168
- Compensation: $157,980
- Related: $0
- Other: $79,097
- Compensation: $163,441
- Related: $0
- Other: $66,073
- Compensation: $16,165
- Related: $0
- Other: $0
- Compensation: $16,165
- Related: $0
- Other: $0
- Compensation: $16,165
- Related: $0
- Other: $0
- Compensation: $16,165
- Related: $0
- Other: $0
- Compensation: $16,165
- Related: $0
- Other: $0
- Compensation: $16,165
- Related: $0
- Other: $0
- Compensation: $16,027
- Related: $0
- Other: $0
- Compensation: $15,903
- Related: $0
- Other: $0
- Compensation: $15,565
- Related: $0
- Other: $0
Official website here: www.union-power.com
Where can I find the form 990 for Union Electric Membership Corp?
Union Electric Membership Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.union-power.com
Learn more at the official website: www.union-power.com
Mission Statement of Union Electric Membership Corp
Union Electric Membership Corp, also known as Union EMC, is committed to improving the quality of life for its members and the communities it serves. This nonprofit organization takes pride in delivering on its promise to provide safe, reliable electric power and energy services with exceptional value.
In essence, Union EMC strives to enhance the lives of its members by ensuring they have access to electricity that is both safe and effective. The organization's mission to provide exceptional value is achieved through the careful management of its largest program services. These services, which account for the majority of the corporation's expenses, include the cost of power, depreciation, and salaries, all totaling over 134 million dollars.
The cost of power refers to the expenses incurred by Union EMC to purchase and transmit electricity to its members. The depreciation expense is the cost of maintaining and upgrading the infrastructure required to distribute electricity. Lastly, the salaries category covers the compensation paid to the employees who work tirelessly to ensure the consistent and safe delivery of electric power. Overall, Union EMC's dedication to these essential services demonstrates its unwavering commitment to enhancing the lives of its members and the communities it serves.
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Impact
October, 2024
Union Electric Membership Corp significantly impacts its community by providing safe and reliable electricity and energy services. Serving members in Monroe, NC, the organization focuses on enhancing the quality of life for its members and the broader community. By ensuring effective distribution of electricity, Union EMC fosters economic development and supports overall community well-being.
The corporation’s commitment to delivering exceptional value is reflected in its substantial investments in power costs, infrastructure depreciation, and employee salaries. These expenditures enable the cooperative to maintain a high standard of service while ensuring energy reliability. Through its operations, Union EMC not only powers homes and businesses but also contributes to the local economy and community resilience, making it an essential part of life in the area.
This information is meant to be a general summary of Union Electric 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 2022.
- Investment Income: $640,934
- Program Service Revenue: $176,321,919
- Gross Receipts: $177,639,808
Assets and Liabilities:
- Total Assets: $441,713,632
- Total Liabilities: $236,250,034
- Net Assets: $205,463,598
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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
$168,444,335
CIAC
Revenue
$7,423,149
PATRONAGE ALLOC. RECEIVED
Revenue
$454,435
Organization Details
Founding Year
1939
Phone
(704) 289-3145Principal Officer
Gregory S Andress
Main Address
PO BOX 5014, MONROE, NC, 281115014
Website
www.union-power.comNTEE Category
Code: W80 - Public benefit
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