Canoochee Electric Membership Corp
501(c)(12)
100% goes to programs Strong reserves Growing revenue
Canoochee Electric Membership Corp is a 501(c)(12) organization based in Reidsville, Georgia, registered in 1943, with $77,519,002 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
Po Box 487, Reidsville, GA, 30453 EIN 58-0182756 Since 1943
Revenue (FY2024)
$77.5M
▲ 12.0% vs prior year
Expenses (FY2024)
$77.5M
Net assets
$75.7M
Employees
131
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Canoochee Electric Membership Corp: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating12 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Canoochee Electric Membership Corp: 12 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Canoochee Electric Membership Corp: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Canoochee Electric Membership Corp: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To provide the best possible electric service to all who desire it within the system area at a reasonable cost consistent with the highest standards of service.
Contact & location
- Address
- Po Box 487, Reidsville, GA, 30453
- City
- Reidsville
- State
- Georgia
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $58.7M (FY2016) to $77.5M (FY2024) across 9 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $123.6MNet assets $75.7M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$199.2M
Total liabilities
$123.6M
Net assets
$75.7M
Salaries & benefits
$521K
1% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $77,519,002▲12.0% | $77,519,002▲12.0% | $75,676,791▲6.3% | $199,238,735▲13.9% | 990 |
| 2023 | $69,238,946▲3.9% | $69,238,946▲1.8% | $71,195,122▲2.5% | $174,923,872▲6.8% | 990 |
| 2022 | $66,658,751▲7.8% | $68,029,915▲10.0% | $69,468,147▲1.5% | $163,781,332▲6.7% | 990 |
| 2021 | $61,839,932▲1.3% | $61,839,932▲1.3% | $68,463,208▲1.5% | $153,525,555▲5.0% | 990 |
| 2020 | $61,054,883▼1.8% | $61,054,883▼1.8% | $67,427,208▲1.7% | $146,205,325▲5.6% | 990 |
| 2019 | $62,181,846▲5.3% | $62,181,846▲5.3% | $66,269,269▲4.1% | $138,449,160▲3.2% | 990 |
| 2018 | $59,078,426▲0.2% | $59,078,426▲0.2% | $63,682,161▲3.7% | $134,160,202▲0.7% | 990 |
| 2017 | $58,961,582▲0.5% | $58,961,582▲0.5% | $61,416,404▲4.3% | $133,249,296▲2.3% | 990 |
| 2016 | $58,663,864 | $58,663,864 | $58,897,511 | $130,266,324 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Michael Wasson — $286,993 (0.37% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Michael Wasson | Ceo | 50 | $286,993 |
| Joseph Andy Whiten | Coo | 50 | $201,302 |
| Mathew H Olson | Cfo | 50 | $199,708 |
| Hugh Garrett Durrence | Lineman | 77 | $198,412 |
| Patrick Burkhalter Jr | Cao | 50 | $182,282 |
| Lou Ann Phillips | Ceo - Retired | 23 | $181,014 |
| Connie Thrift | Director/president | 22 | $17,300 |
| Lavanda Lynn | Director | 15 | $15,800 |
| Kimberly S Blocker | Director/treasurer | 20 | $15,400 |
| Bernard Purvis | Director | 10 | $12,950 |
| Robert H Floyd | Director/vice President | 14 | $12,550 |
| Lanell M Oliver | Director/secretary | 15 | $12,350 |
| Kenneth L Durrence | Director | 12 | $11,450 |
| Marvin E Bradley Jr | Director | 10 | $11,000 |
| Robert E Dasher | Director | 9 | $10,250 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Folsom Industrial | Right of Way Contracting | $183,200 |
Frequently asked questions
- Is Canoochee Electric Membership Corp a legitimate nonprofit?
- Yes. Canoochee Electric Membership Corp is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 58-0182756, based in Reidsville, Georgia.
- What is Canoochee Electric Membership Corp's EIN?
- Canoochee Electric Membership Corp's Employer Identification Number (EIN) is 58-0182756.
- How much revenue does Canoochee Electric Membership Corp report?
- Canoochee Electric Membership Corp reported $77,519,002 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Canoochee Electric Membership Corp's spending goes to programs?
- Canoochee Electric Membership Corp spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Canoochee Electric Membership Corp have?
- CharityIndex grades Canoochee Electric Membership Corp A+, based on program efficiency and fundraising cost.
- How much does Canoochee Electric Membership Corp's highest-paid employee make?
- The highest reported compensation on Canoochee Electric Membership Corp's latest Form 990 is $286,993, paid to Michael Wasson (Ceo).
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Data for Canoochee Electric Membership Corp (EIN 58-0182756) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.