Overview
What is North Carolina Electric Membership Corporation?
The North Carolina Electric Membership Corporation is a significant entity based in Raleigh, North Carolina, with a workforce of 191 employees. Their primary business revolves around providing wholesale electric generation and transmission services to 25 member electric distribution cooperatives. These cooperatives, in turn, offer electric service to over one million households, farms, and businesses across the state. The corporation's mission is to sell electric power to these distribution cooperatives, ensuring a reliable and efficient electric service network for North Carolinians.
Official website here: www.ncemcs.com
What are the reviews and ratings of this charity?
The North Carolina Electric Membership Corporation (NCEMC) is not currently rated by Charity Navigator, primarily due to its lack of 501(c)(3) IRS registration, which is a prerequisite for evaluation under their criteria. Without this status, Charity Navigator cannot apply its Accountability & Finance or Impact & Measurement beacons to assess the organization's performance, leaving several metrics such as total revenue, expenses, and key personnel salaries undisclosed.
The absence of a rating should not be interpreted as a negative or positive reflection of the organization; rather, it highlights the limitations in the scope of Charity Navigator's rating system. Historically, evaluations would focus on financial accountability, but with the evolving criteria including Impact and Leadership factors, NCEMC falls outside the available evaluation processes.
There are no user reviews for the North Carolina Electric Membership Corporation on GreatNonprofits, leaving a gap in understanding the public and beneficiary perception of the nonprofit's operations and effectiveness. Without these insights, stakeholders are encouraged to look for information from alternate sources or directly from the organization for a comprehensive understanding of its impact and initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is North Carolina Electric Membership Corporation legitimate?
North Carolina Electric Membership Corporation is a legitimate nonprofit organization registered as a 501(c)(12) entity. North Carolina 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: $5,321,512
Professional Fundraising Fees: $0
Other Salaries and Wages: $40,539,405
For more financial information, click here
Official website here: www.ncemcs.com
What is the mission statement of North Carolina Electric Membership Corporation?
The North Carolina Electric Membership Corporation plays a crucial role in the electricity sector by delivering wholesale electric generation and transmission services to 25 member electric distribution cooperatives. These cooperatives, in turn, provide electric service to over one million homes, farms, and businesses in North Carolina. The corporation's primary mission centers around the sale of electric power to these distribution cooperatives, ensuring a reliable and consistent electricity supply for the residents and businesses in the state. By acting as a power supplier, the North Carolina Electric Membership Corporation is instrumental in maintaining the electric infrastructure and meeting the energy demands of its cooperative members.
Official website here: www.ncemcs.com
Who is the CEO of North Carolina Electric Membership Corporation?
Joseph P Brannan is the Executive Vp & Ceo of North Carolina Electric Membership Corporation. The CEO's salary of North Carolina Electric Membership Corporation is $1,226,831 and their total compensation is $1,378,852.
Official website here: www.ncemcs.com
What is the revenue of North Carolina Electric Membership Corporation?
North Carolina Electric Membership Corporation's revenue in 2022 was $1,247,913,136.
Official website here: www.ncemcs.com
Who are the executives of North Carolina Electric Membership Corporation and what are their salaries?
The average compensation at North Carolina Electric Membership Corporation during 2022 was $240,110. There are 191 employees at North Carolina Electric Membership Corporation.
Here are 61 key members and their salaries (North Carolina Electric Membership Corporation's CEO's salary is $1,226,831 and their total compensation is $1,378,852):
- Compensation: $1,226,831
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- Other: $152,021
- Compensation: $493,556
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- Compensation: $423,157
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- Compensation: $320,253
- Related: $0
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- Compensation: $315,706
- Related: $0
- Other: $85,802
- Compensation: $275,833
- Related: $0
- Other: $107,941
- Compensation: $266,998
- Related: $0
- Other: $104,231
- Compensation: $239,935
- Related: $0
- Other: $56,548
- Compensation: $199,220
- Related: $0
- Other: $55,762
- Compensation: $169,839
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Official website here: www.ncemcs.com
Where can I find the form 990 for North Carolina Electric Membership Corporation?
North Carolina Electric Membership Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ncemcs.com
Learn more at the official website: www.ncemcs.com
Mission Statement of North Carolina Electric Membership Corporation
The North Carolina Electric Membership Corporation, often referred to as NC EMC, plays a vital role in the electrical power sector by providing wholesale electric generation and transmission services to 25 member electric distribution cooperatives in North Carolina. These cooperatives, in turn, offer electric service to over one million households, farms, and businesses in the state.
In simple terms, NC EMC functions as a power supplier for the 25 electric distribution cooperatives that operate within North Carolina. Through this arrangement, the cooperatives can collectively purchase electricity in large quantities, ensuring a reliable and cost-effective source of power for their respective customers. By providing wholesale electric generation and transmission services, NC EMC enables these cooperatives to focus on delivering electricity to their local communities, rather than managing the complexities of power production and transmission.
NC EMC's primary mission is to support the distribution of electric power to the people of North Carolina through its member cooperatives. This commitment to providing electricity to North Carolinians is essential for the economic growth and well-being of the state's residents and businesses. The organization's focus on collaboration with its member cooperatives ensures that a large, diverse customer base has access to consistent and affordable electricity.
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Impact
October, 2024
North Carolina Electric Membership Corporation plays a crucial role in the state's energy landscape by providing wholesale electric generation and transmission services to 25 member electric distribution cooperatives. This support enables these cooperatives to deliver reliable electric service to over one million homes, farms, and businesses across North Carolina. By facilitating the sale of electric power to these member cooperatives, the corporation helps ensure that communities have access to essential energy services, contributing to economic stability and growth.
In addition to its core mission of power sales, the corporation's activities foster mutual benefit among its members, allowing them to collaborate effectively in meeting the energy needs of their constituents. The impact extends beyond just energy provision; it supports the overarching goal of improving quality of life in North Carolina by powering daily activities, promoting agricultural productivity, and sustaining local businesses. Through these efforts, North Carolina Electric Membership Corporation is integral to the state's commitment to reliable and affordable electricity access.
This information is meant to be a general summary of North Carolina 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: $23,344,613
- Program Service Revenue: $1,224,206,253
- Gross Receipts: $1,447,976,491
Assets and Liabilities:
- Total Assets: $2,328,294,916
- Total Liabilities: $1,968,056,169
- Net Assets: $360,238,747
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROVIDE ELECTRIC POWER
Revenue
$1,224,206,253
Organization Details
Founding Year
1949
Phone
(919) 872-0800Principal Officer
Joseph P Brannan
Main Address
3400 SUMNER BOULEVARD, RALEIGH, NC, 27616
Website
www.ncemcs.comNTEE Category
Code: Y22 - Mutual benefit
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