Overview
What is Wake Electric Membership Corporation?
Wake Electric Membership Corporation is a nonprofit organization headquartered in North Carolina, providing essential energy and related services to its members. The cooperative business, run by James E Mangum JR, prioritizes reliability, safety, and affordability while continually improving to meet the evolving needs of its members. Wake Electric's commitment extends beyond energy, as they also focus on operating a sustainable electric system. This sustainability initiative encompasses delivering affordable, increasingly clean electricity over a more efficient, resilient grid capable of supporting new energy resources.
Official website here: www.wemc.com
What do the Facebook reviews say about Wake Electric Membership Corporation?
62% of reviewers on Facebook recommend Wake Electric Membership Corporation based on 40 reviews. Here is a summary of their comments:
Many users express satisfaction with the reliability of power services, emphasizing that outages are rare and highlighting the prompt response when outages do occur. The consistent praise for their service and quick restoration efforts indicates that the organization meets, if not exceeds, the expectations of some customers.
However, the lower recommendation rate suggests that there may be aspects of service that do not meet everyone's needs. Overall, the feedback suggests that while a considerable number of users appreciate the efficient service, there remains a portion of the community that may have different experiences or concerns.
This AI summary has been generated from reviews found on Facebook.
Is Wake Electric Membership Corporation legitimate?
Wake Electric Membership Corporation is a legitimate nonprofit organization registered as a 501(c)(12) entity. Wake 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: $1,065,113
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,248,499
For more financial information, click here
Official website here: www.wemc.com
What is the mission statement of Wake Electric Membership Corporation?
Wake Electric Membership Corporation is dedicated to delivering reliable, safe, and affordable energy and related services to its members. Operating as a cooperative business, Wake Electric is committed to continually improving its offerings to meet the evolving needs of its community and enhance their quality of life. The corporation prioritizes sustainability in its electric system, which translates to affordable, increasingly clean electricity, and a more efficient, resilient, and adaptable grid that can accommodate new energy resources. Wake Electric's mission centers on providing essential energy services while maintaining the cooperative's financial and operational sustainability.
Official website here: www.wemc.com
Who is the CEO of Wake Electric Membership Corporation?
James E Mangum Jr is the President of Wake Electric Membership Corporation. The CEO's salary of Wake Electric Membership Corporation is $732,064 and their total compensation is $811,202.
Official website here: www.wemc.com
What is the revenue of Wake Electric Membership Corporation?
Wake Electric Membership Corporation's revenue in 2022 was $104,928,493.
Official website here: www.wemc.com
Who are the executives of Wake Electric Membership Corporation and what are their salaries?
The average compensation at Wake Electric Membership Corporation during 2022 was $108,855. There are 58 employees at Wake Electric Membership Corporation.
Here are 15 key members and their salaries (Wake Electric Membership Corporation's CEO's salary is $732,064 and their total compensation is $811,202):
- Compensation: $34,363
- Related: $0
- Other: $0
- Compensation: $35,577
- Related: $0
- Other: $0
- Compensation: $26,284
- Related: $0
- Other: $0
- Compensation: $28,284
- Related: $0
- Other: $0
- Compensation: $25,084
- Related: $0
- Other: $0
- Compensation: $27,127
- Related: $0
- Other: $0
- Compensation: $31,963
- Related: $0
- Other: $0
- Compensation: $16,945
- Related: $0
- Other: $0
- Compensation: $28,284
- Related: $0
- Other: $0
- Compensation: $732,064
- Related: $0
- Other: $79,138
- Compensation: $364,489
- Related: $0
- Other: $62,460
- Compensation: $365,990
- Related: $0
- Other: $37,919
- Compensation: $162,182
- Related: $0
- Other: $65,950
- Compensation: $160,023
- Related: $0
- Other: $30,049
- Compensation: $194,272
- Related: $0
- Other: $48,434
Official website here: www.wemc.com
Where can I find the form 990 for Wake Electric Membership Corporation?
Wake Electric Membership Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wemc.com
Learn more at the official website: www.wemc.com
Mission Statement of Wake Electric Membership Corporation
Wake Electric Membership Corporation, a cooperative business, is dedicated to providing dependable, secure, and budget-friendly energy and associated services. The corporation's mission is multifaceted: it aims to continually improve its offerings to cater to the needs of its members and enhance their quality of life. Moreover, Wake Electric Membership Corporation operates a sustainable electric system. Sustainability, in this context, refers to the delivery of affordable, progressively clean electricity over a grid that is more efficient, robust, and capable of accommodating new energy resources. The corporation's commitment to sustainability underpins its provision of reliable energy, ensuring a consistent power supply for its members while contributing to a greener energy landscape.
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Impact
October, 2024
Wake Electric Membership Corporation significantly impacts its community by providing reliable, safe, and affordable energy services. Operating as a cooperative, it prioritizes the needs of its members, continually striving for improvements that enhance their quality of life. The organization is committed to sustainability, focusing on delivering increasingly clean electricity while ensuring a more efficient and resilient energy grid. This approach supports the integration of new energy resources, ultimately fostering a more sustainable energy future for the region. By prioritizing affordability and reliability, Wake Electric plays a crucial role in empowering its members and enriching the communities it serves.
This information is meant to be a general summary of Wake 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: $42,005
- Program Service Revenue: $104,931,913
- Gross Receipts: $105,316,376
Assets and Liabilities:
- Total Assets: $298,402,185
- Total Liabilities: $182,916,595
- Net Assets: $115,485,590
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ELEC. SALES AND SERVICE
Revenue
$101,773,075
CAPITAL CREDITS
Revenue
$2,999,097
POLE RENTAL
Revenue
$159,741
Organization Details
Founding Year
1940
Phone
(919) 863-6300Principal Officer
James E Mangum Jr
Main Address
PO BOX 1229, WAKE FOREST, NC, 27588
Website
www.wemc.comNTEE Category
Code: W80 - Public benefit
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