Overview
What is Central Electric Membership Corporation?
Central Electric Membership Corporation is a North Carolina-based nonprofit organization dedicated to delivering safe and effective electricity to its members. With a workforce of 76 employees, this corporation focuses on ensuring the reliable supply of power to its community. The three largest program services, as indicated by expenses, include the cost of power, depreciation and amortization, and other salaries and wages. Central Electric Membership Corporation's mission remains committed to this essential service, ensuring a high standard of electricity distribution to its members.
Official website here: www.centralelectriconline.com
Is Central Electric Membership Corporation legitimate?
Central Electric Membership Corporation is a legitimate nonprofit organization registered as a 501(c)(12) entity. Central 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: $1,155,601
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,580,821
For more financial information, click here
Official website here: www.centralelectriconline.com
What is the mission statement of Central Electric Membership Corporation?
Central Electric Membership Corporation is dedicated to ensuring the safe and efficient delivery of electricity to its members. This non-profit organization prioritizes the reliable distribution of power to enrich the daily lives of its community. The corporation's primary focus is on maintaining the electrical infrastructure and ensuring the consistent and high-quality provision of electricity. Its largest program services, as indicated by expenses, include the cost of power, depreciation and amortization, and other salaries and wages.
Official website here: www.centralelectriconline.com
Who is the CEO of Central Electric Membership Corporation?
Edward B Oldham is the Ceo & Gen. M of Central Electric Membership Corporation. The CEO's salary of Central Electric Membership Corporation is $260,254 and their total compensation is $332,246.
Official website here: www.centralelectriconline.com
What is the revenue of Central Electric Membership Corporation?
Central Electric Membership Corporation's revenue in 2022 was $57,299,071.
Official website here: www.centralelectriconline.com
Who are the executives of Central Electric Membership Corporation and what are their salaries?
The average compensation at Central Electric Membership Corporation during 2022 was $75,479. There are 76 employees at Central Electric Membership Corporation.
Here are 21 key members and their salaries (Central Electric Membership Corporation's CEO's salary is $260,254 and their total compensation is $332,246):
- Compensation: $260,254
- Related: $0
- Other: $71,992
- Compensation: $190,235
- Related: $0
- Other: $47,794
- Compensation: $155,240
- Related: $0
- Other: $57,414
- Compensation: $154,176
- Related: $0
- Other: $55,344
- Compensation: $143,388
- Related: $0
- Other: $60,305
- Compensation: $128,368
- Related: $0
- Other: $50,781
- Compensation: $125,233
- Related: $0
- Other: $40,999
- Compensation: $128,248
- Related: $0
- Other: $37,663
- Compensation: $112,706
- Related: $0
- Other: $39,449
- Compensation: $141,789
- Related: $0
- Other: $139
- Compensation: $27,268
- Related: $0
- Other: $0
- Compensation: $22,800
- Related: $0
- Other: $0
- Compensation: $19,950
- Related: $0
- Other: $0
- Compensation: $19,050
- Related: $0
- Other: $0
- Compensation: $18,900
- Related: $0
- Other: $0
- Compensation: $18,900
- Related: $0
- Other: $0
- Compensation: $18,600
- Related: $0
- Other: $0
- Compensation: $18,600
- Related: $0
- Other: $0
- Compensation: $18,000
- Related: $0
- Other: $0
- Compensation: $12,720
- Related: $0
- Other: $0
- Compensation: $2,700
- Related: $0
- Other: $0
Official website here: www.centralelectriconline.com
Where can I find the form 990 for Central Electric Membership Corporation?
Central Electric Membership Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.centralelectriconline.com
Learn more at the official website: www.centralelectriconline.com
Mission Statement of Central Electric Membership Corporation
Central Electric Membership Corporation, also known as Central EMC, is dedicated to ensuring the safe and efficient delivery of electricity to its members. The organization prides itself on providing a reliable source of power, ensuring that households and businesses can function optimally. The mission of Central EMC is multifaceted, with a primary focus on the safety and effectiveness of the electricity distribution process.
Central EMC's operations span various areas, with the three largest programs being the cost of power, depreciation and amortization, and other salaries and wages. The cost of power refers to the expense incurred by Central EMC to purchase electricity from various sources to meet the demands of its members. Depreciation and amortization are costs associated with the wear and tear of Central EMC's assets, including power lines and electrical infrastructure, which are necessary for the delivery of electricity. The other salaries and wages category covers the remuneration paid to Central EMC's employees, who are essential in maintaining and improving the organization's operations.
In summary, Central Electric Membership Corporation is a mission-driven organization that places the needs of its members at the forefront of its operations. By focusing on the safe and effective delivery of electricity, Central EMC ensures that its members have a consistent and reliable source of power. The organization's commitment to quality and efficiency is reflected in its substantial investments in electricity procurement, infrastructure maintenance, and its workforce.
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Impact
October, 2024
Central Electric Membership Corporation plays a crucial role in providing safe and effective electricity distribution to its members in Sanford, North Carolina. The organization is dedicated to ensuring reliable access to power, which is essential for both residential and commercial customers.
The significant expenditures highlight its commitment to maintaining infrastructure and service quality, with the largest outlay being the cost of power itself, amounting to over $35 million. This investment directly supports the needs of the community by delivering consistent electrical service. Additionally, funds allocated for depreciation and amortization, as well as salaries, reflect efforts to sustain operational efficiency and staff engagement, ensuring that the workforce is equipped to manage the demands of the service.
Through its programs and services, Central Electric Membership Corporation not only addresses the immediate energy needs of its members but also contributes to the overall well-being and economic stability of the region. The effective distribution of electricity is foundational to the community's growth and development, reinforcing Central EMC's impact as a vital provider of essential services.
This information is meant to be a general summary of Central 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: $70,989
- Program Service Revenue: $57,358,952
- Gross Receipts: $57,301,995
Assets and Liabilities:
- Total Assets: $127,843,313
- Total Liabilities: $65,136,377
- Net Assets: $62,706,936
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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
$56,855,621
CONTRIB. IN AID OF CONST.
Revenue
$313,965
CASH PATRONAGE RECEIVED
Revenue
$189,366
Organization Details
Founding Year
1941
Phone
(919) 774-4900Principal Officer
Edward B Oldham
Main Address
PO BOX 1107, SANFORD, NC, 27331
NTEE Category
Code: W80 - Public benefit
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