2024-03-27T08:28:03-04:00 2023-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2023-01-01 560475840 ALBEMARLE ELECTRIC MEMBERSHIP CORP ALBE 2524265735 PO BOX 69 HERTFORD NC 279440069 KEVIN HEATH EXEC VP/GM 8002159915 2024-03-25 true KEVIN HEATH XXX-XX-XXXX false WILLIAM R ROUNTREE P01231836 4787466277 2024-03-27 2023 2023-04-26 12:10:37Z KEVIN HEATH PO BOX 69 HERTFORD NC 27994 32082307 false X HTTP://WWW.AEMC.COOP X 1945 NC ALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE. 9 9 39 0 0 32289006 31952396 69057 129911 0 32358063 32082307 0 2931700 2736082 433561 745740 0 0 28992802 28600485 32358063 32082307 0 94733534 97594322 51129796 52122026 43603738 45472296 ALBEMARLE EMC STRIVES TO SAFELY DELIVER RELIABLE POWER AND RELATED ENERGY SOLUTIONS TO OUR MEMBERS AND LOCAL COMMUNITIES BY PROVIDING THE HIGHEST VALUE THROUGH SERVICE EXCELLENCE. false false 32082307 TO PROVIDE SAFE AND RELIABLE ELECTRICITY TO ALL WHO DESIRE IT WITHIN THE COUNTIES WE SERVE. 32082307 false false false false false false false false false true false true false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 25 0 true 39 true false false false false false 30564934 1054571 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false NC X CLARISSA PERRY ALBEMARLE EMC 2524265735 PO BOX 69 HERTFORD NC 27944 X JOHN W SPENCE PRESIDENT 4.00 X X 15650 0 0 GLENN CAREY VICE PRESIDE 3.00 X X 11000 0 0 THELMA FINCH-COPELAND SECRETARY 3.00 X X 12600 0 0 T CHAD MATHEWS TREASURER 3.00 X X 11600 0 0 ROBERT WHITEHEAD DIRECTOR 2.00 X 12600 0 0 JOSIAH A WEBB III DIRECTOR 2.00 X 11200 0 0 ALLEN LAYTON DIRECTOR 2.00 X 12600 0 0 MELVIN RAY ALBERTSON DIRECTOR 2.00 X 10500 0 0 LINDA FELTON BURRUS DIRECTOR 2.00 X 12800 0 0 KEVIN HEATH EXEC VP/GM 50.00 X 170746 0 58644 GARY W RAY FORMER-EXEC 50.00 X 328473 0 77327 CLARISSA PERRY MGR OF CORPO 50.00 X 138508 0 56024 ROY O'NEAL MGR OF OPERA 50.00 X 122128 0 53876 BOBBY UPTON CREW LEADER 40.00 X 129269 0 49593 PAUL BYRUM CREW LEADER 40.00 X 117998 0 43712 1117672 339176 6 false true false ELECTRIC REVENUE 221000 30564932 30564932 OTHER NONOPERATING MARGINS 221000 625185 625185 G & T CAPITAL CREDITS 221000 547433 547433 OTHER CAPITAL CREDITS 221000 147725 147725 POLE RENTAL 221000 67121 67121 31952396 129911 129911 32082307 31952396 129911 2736082 745740 1724917 3030906 PURCHASED POWER 18067045 DISTRIBUTION OPERATIONS 1718503 ADMIN. & GENERAL EXP. 1335342 DISTRIBUTION MAINTENANCE 1137506 1586266 32082307 0 0 0 3769553 2825722 3423819 3994771 2779124 1493145 660623 469172 114311416 34008470 76207728 80302946 8042318 8657445 -149631 -148879 94733534 97594322 3774131 2978103 44196000 45735364 3159665 3408559 51129796 52122026 X 26805 25580 43576933 45446716 43603738 45472296 94733534 97594322 X 0 1868558 X false true X true false 1973843 1973843 112337573 34008470 78329103 80302946 NCEMC 6955147 C TEMA 664721 C CFC CTC'S 305347 C CFC MEMBER CAPITAL SECURITIES 258091 C FEDERATED 186443 C SEDC 149958 C COBANK 121396 C CRC 12188 C TOUCHSTONE 2500 C NRTC 1029 C EASTERN MDM 625 C 8657445 ACCUM PROV FOR PRBO 1837775 CONSUMER DEPOSITS 1109230 DEFERRED CREDITS 461554 3408559 32082307 32082307 32082307 29346225 29346225 2736082 2736082 32082307 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL CREDITS ASSIGNED 2,736,082 X X X false false false KEVIN HEATH EXEC VP/GM 155456 500 14790 47647 10997 229390 GARY W RAY FORMER-EXEC VP/GM 322614 1000 4859 65842 11485 405800 CLARISSA PERRY MGR OF CORPORATE SVC 125329 500 12679 41186 14838 194532 ROY O'NEAL MGR OF OPERATIONS 114031 500 7597 36383 17493 176004 BOBBY UPTON CREW LEADER 118215 500 10554 35096 14497 178862 PAUL BYRUM CREW LEADER 111546 500 5952 32715 10997 161710 FORM 990, PAGE 6, PART VI, LINE 6 THE COOPERATIVE HAS MEMBERS AS PROVIDED IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7A THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY THE BOARD WITH ALL SUPPORTING DOCUMENTATION MADE AVAILABLE TO THEM. FORM 990, PAGE 6, PART VI, LINE 12C THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THEIR CONFLICT OF INTEREST POLICY AS PROVIDED FOR IN ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION FOR THE GENERAL MANAGER IS REVIEWED AND APPROVED THROUGH THE USE OF A COMPENSATION SURVEY, REVIEW OF 990'S OF SIMILAR ORGANIZATIONS AND A PERFORMANCE REVIEW CONDUCTED BY THE MEMBER-ELECTED BOARD. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR KEY EMPLOYEES IS REVIEWED AND APPROVED THROUGH THE USE OF AN ANNUAL PERFORMANCE EVALUATION PERFORMED BY THE GENERAL MANAGER. FORM 990, PAGE 6, PART VI, LINE 19 THE COOPERATIVE MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI SECTION C LINE 18. FORM 990, PART VII GARY W. RAY WAS EXECUTIVE VP/GENERAL MANAGER THROUGH SEPTEMBER 25, 2023. IN NOVEMBER 2023, KEVIN HEATH ACCEPTED THE POSITION AND CONTINUES TO SERVE IN THAT ROLE. THE FORM 990 INSTRUCTIONS REQUIRE THAT BOTH INDIVIDUALS BE REPORTED AS CURRENT OFFICERS OF THE ORGANIZATION FOR THE TAX YEAR. FORM 990, PART XI, LINE 9 CAPITAL CREDITS - GAINS 274,823 PATRONAGE CAPITAL CREDITS ASSIGNED 2,736,082 CHANGE IN MEMBERSHIP FEES -1,225 PATRONAGE CAPITAL RETIRED -1,003,451 OTHER COMPREHENSIVE INCOME -137,671 TOTAL 1,868,558