Union Electric Membership Corp
501(c)(12)
Strong reserves
Union Electric Membership Corp is a 501(c)(12) organization based in Monroe, North Carolina, registered in 1966, with $183,252,830 in FY2023 revenue.
Po Box 5014, Monroe, NC, 28111 EIN 56-0435549 Since 1966
Revenue (FY2023)
$183.3M
▲ 3.2% vs prior year
Expenses (FY2023)
$183.4M
Net assets
$216.3M
Employees
150
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
★★★★
Rated on 3 of 4 criteria — the rest aren't reported in this filing type.
Capped at A — the top grade requires the fuller disclosure of a complete Form 990.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
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. Not scored for Union Electric Membership Corp— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating14 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 Union Electric Membership Corp: 14 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 Union Electric Membership Corp: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Union Electric Membership Corp: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To enhance the quality of life of our members and the communities we serve by delivering on our promise to provide safe, reliable electric power and energy services with exceptional value.
What they do
Safe and effective distribution of electricity to the members of union emc. the corporation's three largest program services, as measured by expenses are as follows: cost of power 89,411,927 patronage dividends paid (assigned to members) 13,500,131 depreciation expense 11,847,330
Contact & location
- Address
- Po Box 5014, Monroe, NC, 28111
- City
- Monroe
- State
- North Carolina
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $139.4M (FY2013) to $183.3M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $276.9MNet assets $216.3M
Operating margin
-0.1%
Spent more than it raised in the latest fiscal year.
Total assets
$493.2M
Total liabilities
$276.9M
Net assets
$216.3M
Salaries & benefits
$19.1M
10% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $183,252,830▲3.2% | $183,391,522▲6.4% | $216,281,469▲5.3% | $493,152,133▲11.6% | 990 |
| 2022 | $177,639,808▲8.0% | $172,393,569▲4.2% | $205,463,598▲3.5% | $441,713,632▼1.1% | 990 |
| 2021 | $164,551,221▲0.4% | $165,410,565▲0.5% | $198,554,856▲5.4% | $446,683,305▲4.4% | 990 |
| 2020 | $163,913,640▼5.1% | $164,564,111▼1.5% | $188,376,065▲6.9% | $427,874,947▲2.8% | 990 |
| 2019 | $172,644,679▲1.1% | $167,017,317▼2.4% | $176,290,459▲6.1% | $416,034,398▲12.5% | 990 |
| 2018 | $170,776,963▲13.0% | $171,175,117▲13.7% | $166,151,781▲8.9% | $369,834,080▲2.0% | 990 |
| 2017 | $151,113,132▼0.6% | $150,507,116▼0.7% | $152,580,813▲7.7% | $362,489,543▲6.8% | 990 |
| 2016 | $151,955,409▲1.5% | $151,561,665▲1.3% | $141,705,221▲7.2% | $339,344,220▲8.1% | 990 |
| 2015 | $149,728,218▲1.2% | $149,601,357▼0.9% | $132,238,072▲4.8% | $313,838,661▲6.3% | 990 |
| 2014 | $147,927,424▲6.1% | $151,003,764▲5.2% | $126,159,900▲10.7% | $295,256,474▲1.7% | 990 |
| 2013 | $139,408,005 | $143,493,776▲5.4% | $113,934,652▲6.9% | $290,383,794▲12.2% | 990 |
| 2012 | — | $136,134,943▲1.1% | $106,624,377▲7.8% | $258,913,573▲5.1% | 990 |
| 2011 | — | $134,680,796▲5.8% | $98,917,190▲9.1% | $246,296,593▲5.1% | 990 |
| 2010 | — | $127,326,280 | $90,705,896 | $234,452,161 | 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 (FY2023)
Highest-paid: Gregory S Andress — $723,758 (0.39% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Gregory S Andress | Evp Vp & Gen | 40 | $723,758 |
| Theresa Blackwell | Vp Fin & Acc | 40 | $355,570 |
| David Gross | Vp Eng & Ope | 40 | $347,884 |
| Jeremy Black | Vp Info Serv | 40 | $224,671 |
| Carrie Stroud | Vp Comms & M | 40 | $216,568 |
| Wayne Hathcock | Mgr of Eng | 40 | $208,055 |
| Lonnie Kirkley | Mgr Operatio | 40 | $201,920 |
| James Murphy | Mgr Finance | 40 | $169,372 |
| Numa Robertson | Former Vp Co | — | $82,435 |
| Dent H Turner | President | 4 | $19,473 |
| Winnie Honeycutt | Director | 3 | $18,273 |
| David E Smith | Director | 3 | $17,073 |
| David G Hyatt | Vice Preside | 3 | $17,073 |
| Sherise Jones | Sec-treas | 2 | $15,903 |
| Tom J Caudle | Director | 2 | $15,873 |
| Sue Threatt | Asst. Sec/tr | 2 | $15,573 |
| Thomas E Porter Jr | Director | 2 | $15,273 |
| Lee Roy Kirk Jr | Former Presi | 4 | $14,609 |
| Gary Bostian | Director | — | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Pike Electric LLC | Construction | $3,205,523 |
| Xylem Tree Experts | Row Maintenance | $2,176,948 |
| Trulls Powerline Co Inc | Construction | $1,745,488 |
| Meridan Cooperative | Software | $1,707,364 |
| Draw Enterprises | Construction | $973,891 |
Grants received · $114K total
8 grants to Union Electric Membership Corp totaling $114K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| North Carolina Electric Membership Corporation | Educational assistance | 2024 | $14,605 |
| North Carolina Electric Membership Corporation | Educational assistance | 2023 | $14,605 |
| North Carolina Electric Membership Corporation | Educational assistance | 2022 | $14,605 |
| North Carolina Electric Membership Corporation | Educational assistance | 2021 | $13,835 |
| North Carolina Electric Membership Corporation | Educational assistance | 2020 | $13,835 |
| North Carolina Electric Membership Corporation | Educational assistance | 2019 | $13,835 |
| North Carolina Electric Membership Corporation | Educational assistance | 2018 | $15,000 |
| North Carolina Electric Membership Corporation | Educational assistance | 2017 | $13,835 |
Grants made · $15K in FY2023
2 grants totaling $15K in FY2023. All grants made by Union Electric Membership Corp →
| Recipient | Purpose | Amount |
|---|---|---|
| Hospice of Stanly County Inc | General support | $9,034 |
| Lee Park Baptist Church | General support | $6,000 |
Frequently asked questions
- Is Union Electric Membership Corp a legitimate nonprofit?
- Yes. Union Electric Membership Corp is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 56-0435549, based in Monroe, North Carolina.
- What is Union Electric Membership Corp's EIN?
- Union Electric Membership Corp's Employer Identification Number (EIN) is 56-0435549.
- How much revenue does Union Electric Membership Corp report?
- Union Electric Membership Corp reported $183,252,830 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much does Union Electric Membership Corp's highest-paid employee make?
- The highest reported compensation on Union Electric Membership Corp's latest Form 990 is $723,758, paid to Gregory S Andress (Evp Vp & Gen).
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Data for Union Electric Membership Corp (EIN 56-0435549) 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.