2023-11-12T10:22:52-05:00 2022-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2022-01-01 560229234 FRENCH BROAD ELECTRIC MEMBERSHIP CORPORATION FREN 8286492051 PO BOX 9 MARSHALL NC 28753 JOHN L CHANDLER SECRETARY 8286492051 2023-08-23 true JOHN CHANDLER 999009999 true G STEVEN GILLIAM CPA P00348264 8043231313 2023-08-23 2022 2023-04-26 12:10:37Z JOSEPH G JUSTICE PO BOX 9 MARSHALL NC 28753 81304130 false X FRENCHBROADEMC.COM X 1939 NC SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF FRENCH BROAD EMC. 11 11 128 148 2852385 4533784 69642053 75243881 547797 333772 1211884 1191881 74254119 81303318 0 2529732 3182659 14739306 15917722 0 0 55669165 60866766 72938203 79967147 1315916 1336171 153825351 156310357 102869318 103027404 50956033 53282953 SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF FRENCH BROAD EMC. false false THE SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS OF FRENCH BROAD EMC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES, ARE AS FOLLOWS: COST OF POWER: 33,993,573 DEPRECIATION AND AMORTIZATION: 10,101,076 SALARIES AND WAGES: 9,941,246 false false false false false false false false false true false false false true true false false false false false false false false false false false false false true false false false true false false false false false false false false false false true 26 0 true 128 true false false false false false 74092420 1486511 false false false X 11 11 false false false false true true true true true false true true true true true false false false true true false X PHYLLIS HOLT 8286492051 PO BOX 9 MARSHALL NC 28753 X JEFFERY LOVEN GENERAL MANA 45.00 X 393427 0 231049 GREGORY FOWLER DISTRICT MAN 45.00 X 217992 0 213699 TRACY EVANS DISTRICT MAN 55.00 X 213442 0 207025 PHYLLIS HOLT OFFICE MANAG 45.00 X 213228 0 184627 DONALD R WEBB ENG. & OPR. 45.00 X 176791 0 110515 DEWEY R WILLS SERVICE TECH 57.00 X 149717 0 56380 HUGH R FLEMING OPERATIONS M 55.00 X 180039 0 23257 REALIGH PEEK FIBER CREW L 50.00 X 130439 0 66458 KELBY R CODY IT ADMINISTR 45.00 X 131914 0 62889 JACKIE BUCHANAN SERVICE TECH 50.00 X 126279 0 65906 GARY T WILDE TREASURER 12.00 X X 37186 0 0 JAMES M RAY VICE PRESIDE 11.00 X X 33666 0 0 JILL AUSTIN DIRECTOR 10.00 X 32466 0 0 JOHN L CHANDLER SECRETARY 11.00 X X 32466 0 0 CHARLES R TOLLEY DIRECTOR 8.00 X 31097 0 0 PAUL BADGLEY DIRECTOR 9.00 X 30666 0 0 KEITH A KUHNE DIRECTOR 9.00 X 30630 0 0 JOSEPH G JUSTICE PRESIDENT 9.00 X X 30533 0 0 CARL RAMSEY DIRECTOR 9.00 X 30533 0 0 JERRY GRIFFITH DIRECTOR 10.00 X 30366 0 0 GORDON RANDOLPH DIRECTOR 10.00 X 17292 0 0 2270169 1221805 38 false true false HERITAGE EXTERIOR MAINTENANCE PO BOX 1089 BURNSVILLE NC 28714 RIGHT OF WAY 3300834 CVO ENTERPRISES INC 14 OLD CHARLOTTE HWY ASHEVILLE NC 28803 FIBER WORK 2913668 LEWIS TREE PO BOX 1118 CONCORD NC 28026 RIGHT OF WAY 2282280 HAYNES ELECTRIC PO BOX 536767 ATLANTA GA 30353 UTILITY WORK 1686683 R & K TREE SERVICE 30 OLD MARS HILL HWY WEAVERVILLE NC 28787 RIGHT OF WAY 1100776 9 4533784 4533784 SALE OF ELECTRICITY 74092420 74092420 CIAC 1052353 1052353 PATRONAGE ALLOCATIONS 99108 99108 75243881 228553 228553 960 1191415 812 148 1191415 1191563 148 1191415 105219 105219 105219 105219 MISCELLANEOUS INCOME 221000 318 318 318 81303318 75244199 148 1525187 X 3182659 2498696 9941246 2073292 511998 892490 5835 1740461 88328 2404549 10101076 COST OF POWER 33993573 DISTRIBUTION MAINTENANCE 13849648 DISTRIBUTION OPERATION 2012378 ADMIN AND GENERAL 1370653 -4699735 79967147 0 0 0 9032188 4966872 5681863 6303193 573955 476600 3986917 4910901 594508 334245 253837286 117784693 130694254 136052593 2510553 2554024 751113 711929 153825351 156310357 8920461 9397917 78779590 78906605 15169267 14722882 102869318 103027404 X 50956033 53282953 50956033 53282953 153825351 156310357 X 1336171 990749 X false true X true true true 253837286 117784693 136052593 136052593 APBO 7582205 DEFERRED CREDITS 3811860 REGULATORY LIABILITIES 2298257 CONSUMER DEPOSITS 1030560 14722882 X SCHEDULE D, PAGE 3, PART X THE CORPORATION FOLLOWS THE GUIDANCE FOR "UNCERTAIN TAX POSITIONS" IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE CORPORATION HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. X X false false false JEFFERY LOVEN GENERAL MANAGER 390543 210 2674 209117 21932 624476 GREGORY FOWLER DISTRICT MANAGER 215703 200 2089 193507 20192 431691 TRACY EVANS DISTRICT MANAGER 211638 198 1606 186857 20168 420467 PHYLLIS HOLT OFFICE MANAGER 208618 183 4427 164318 20309 397855 DONALD R WEBB ENG. & OPR. MGR. 176049 152 590 90909 19606 287306 DEWEY R WILLS SERVICE TECHNICIAN 148765 179 773 37968 18412 206097 HUGH R FLEMING OPERATIONS MGR 173846 259 5934 3492 19765 203296 REALIGH PEEK FIBER CREW LEADER 129440 190 809 47981 18477 196897 KELBY R CODY IT ADMINISTRATOR 131121 162 631 43937 18952 194803 JACKIE BUCHANAN SERVICE TECHNICIAN 123365 195 2719 47422 18484 192185 JAMES RAY WINTER STAR CO PRESIDENT ECON. DEV. LOAN. false SCHEDULE L, PART V JAMES RAY IS PRESIDENT OF WINTER STAR COMPANY. THE ORGANIZATION PROVIDED WINTER STAR COMPANY WITH A 360,000 RURAL ECONOMIC DEVELOPMENT LOAN. THE LOAN BALANCE AT DECEMBER 31, 2022 WAS 108,000. FORM 990 FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS ARE CREDITED TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN COOPERATIVE'S BY-LAWS. THE CORPORATION IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. PATRONAGE DIVIDENDS OF SECTION 501(C)(12) ORGANIZATIONS ARE REPORTED ON LINE 4. FORM 990, PAGE 6, PART VI, LINE 6 FRENCH BROAD ELECTRIC MEMBERSHIP CORPORATION IS AN ELECTRIC MEMBERSHIP CORPORATION THAT DELIVERS ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE MEMBERS ELECT THE BOARD OF DIRECTORS, WHICH COMPRISE THE GOVERNING BODY OF THE CORPORATION. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7A ALL MEMBERS OF THE FRENCH BROAD ELECTRIC MEMBERSHIP CORPORATION RECEIVE ONE VOTE WITH RESPECT TO SELECTING THE CORPORATIONS'S BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS PROVIDED FOR IN ITS BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B ACCOUNTING PERSONNEL REVIEW THE 990 FOR ACCURACY BEFORE FURNISHING IT TO THE CHIEF EXECUTIVE OFFICER AND THE BOARD OF DIRECTORS FOR THEIR APPROVAL. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS SETS THE SALARY OF THE GENERAL MANAGER AND IS RESPONSIBLE FOR ANY JOB REVIEW OR INCREASE IN PAY. FORM 990, PAGE 6, PART VI, LINE 15B THE GENERAL MANAGER IS RESPONSIBLE FOR THE JOB REVIEW OF EACH UPPER MANAGEMENT POSITION. THIS REVIEW IS CONDUCTED AS DEEMED NECESSARY, AND MERIT RAISES ARE CONSIDERED BASED ON PAST JOB PERFORMANCE, ADDITIONAL RESPONSIBILITIES, AND THE FINANCIAL POSITION OF THE COOPERATIVE. FORM 990, PAGE 6, PART VI, LINE 19 ALL NEW MEMBERS ARE OFFERED THE OPPORTUNITY TO RECEIVE A COPY OF THE BYLAWS AND SERVICE RULES AND REGULATIONS WHEN THEY SIGN UP FOR SERVICE. THIS INFORMATION IS ALSO AVAILABLE ON THE FBEMC WEBSITE. A FINANCIAL REPORT IS MAILED TO EACH MEMBER EVERY YEAR IN THE ANNUAL MEETING NOTICE. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S HEADQUARTERS. FORM 990, PART VII INCLUDED IN FORM 990, PART VII, COLUMN (F) AND SCHEDULE J, PART II, COLUMN (C) IS THE ACTUARIAL INCREASE IN DEFINED BENEFIT PLANS. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN IS THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. FORM 990, PART XI, LINE 9 PATRONAGE DIV PAID TO MEMB NOT EXP PER GAAP 3,182,659 NON-CASH PATRONAGE ALLOCATIONS 51,232 OCI 1,329,509 CIAC NOT REVENUE PER GAAP -1,052,353 PATRONAGE CAPITAL RETIREMENTS -2,520,200 OTHER -98 TOTAL 990,749