2024-09-04T09:34:47-04:00 2023-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2023-01-01 560440935 WAKE ELECTRIC MEMBERSHIP CORPORATION WAKE 9198636300 PO BOX 1229 WAKE FOREST NC 27588 JAMES E MANGUM JR CEO & GEN. MGR. 9198636300 2024-09-04 true false JACOB R MORRIS P01653123 4787466277 2024-09-04 2023 2024-08-08 14:25:15Z JAMES E MANGUM JR PO BOX 1229 WAKE FOREST NC 27588 106161454 false X WWW.WEMC.COM X 1940 NC WAKE ELECTRIC PROVIDES RELIABLE, SAFE, AND AFFORDABLE ENERGY AND RELATED SERVICES. WAKE ELECTRIC OPERATES AS A COOPERATIVE BUSINESS AND CONTINUALLY IMPROVES ITS SERVICES TO MEET THE NEEDS OF OUR MEMBERS AND ENHANCE THEIR QUALITY OF LIFE. WAKE ELECTRIC OPERATES A SUSTAINABLE ELECTRIC SYSTEM. SUSTAINABLE MEANS DELIVERING AFFORDABLE, INCREASINGLY CLEAN ELECTRICITY OVER A GRID THAT IS MORE EFFICIENT, RESILIENT AND CAPABLE OF SUPPORTING NEW ENERGY RESOURCES. 9 9 56 0 0 104931913 104509498 42005 1244486 -45425 -26128 104928493 105727856 0 5286180 2322427 9800773 10396231 0 0 89841540 93009198 104928493 105727856 0 298402185 315412174 182916595 199761681 115485590 115650493 X WAKE ELECTRIC PROVIDES RELIABLE, SAFE, AND AFFORDABLE ENERGY AND RELATED SERVICES. WAKE ELECTRIC OPERATES AS A COOPERATIVE BUSINESS AND CONTINUALLY IMPROVES ITS SERVICES TO MEET THE NEEDS OF OUR MEMBERS AND ENHANCE THEIR QUALITY OF LIFE. WAKE ELECTRIC OPERATES A SUSTAINABLE ELECTRIC SYSTEM. SUSTAINABLE MEANS DELIVERING AFFORDABLE, INCREASINGLY CLEAN ELECTRICITY OVER A GRID THAT IS MORE EFFICIENT, RESILIENT AND CAPABLE OF SUPPORTING NEW ENERGY RESOURCES. false false N/A false false false false false false false false false true false true false true false false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true 96 0 true 56 true false false false false false 100911652 1972415 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 X LISA KENNEDY 9198636300 228 PARK AVE YOUNGSVILLE NC 27596 SUZY MORGAN PRESIDENT 12.88 0.00 X X 35701 0 0 H MICHAEL DICKERSON VICE PRESIDE 11.08 0.00 X X 37100 0 0 ROBERT HILL TREASURER 8.75 0.00 X X 28992 0 0 GREG FULLER SECRETARY 6.79 0.00 X X 28192 0 0 ROBERT JOE EDDINS DIRECTOR 5.48 0.00 X 25392 0 0 JACKIE THOMPSON DIRECTOR 4.38 0.00 X 6048 0 0 W JOSEPH HILBURN JR DIRECTOR 7.27 0.00 X 26241 0 0 ALLEN NELSON DIRECTOR 7.65 0.00 X 34271 0 0 WILLIAM DANIEL KEEL DIRECTOR 7.10 0.00 X 27792 0 0 JAMES E MANGUM JR CEO & GEN. M 50.00 0.00 X 932813 0 71846 DON BOWMAN MANAGER OF O 50.00 0.00 X 397804 0 63720 CYNTHIA M CURRIN GENERAL COUN 50.00 0.00 X 392739 0 34801 CHRISTOPHER D WRIGHT MGR OF ENGIN 50.00 0.00 X 199802 0 47861 KIRK METCALF VP OF MARKET 50.00 0.00 X 193893 0 47204 STEVE BALLARD MGR OF CYBER 50.00 0.00 X 174513 0 28838 2541293 294270 25 false true false TOWNSEND TREE SERVICE CO LLC PO BOX 7015 MUNCIE IN 47308 ROW SERVICES 1596519 C-PHASE SERVICES LLC PO BOX 3210 KINSTON NC 285023210 OH LINE CONST 458104 INTEGRATED FACILITY SERVICES PO BOX 385 ROANOKE RAPIDS NC 27870 POLE INSPECTION 192415 ITSAVVY LLC PO BOX 3296 GLEN ELLYN IL 60138 LICENSE SUPPORT 118663 SOURCE NORTH AMERICA 6617-A FLEETWOOD DRIVE RALEIGH NC 276121838 FUEL TANK SYS 118102 5 X ELEC. SALES AND SERVICE 221000 100911652 100911652 CAPITAL CREDITS 221000 3447010 3447010 POLE RENTAL 221000 150836 150836 104509498 1244486 1244486 417906 433598 -15692 -15692 -15692 GAIN ON SALE OF ASSETS 56275 56275 SUBSIDIARY INCOME -66711 -66711 -10436 105727856 104414937 1312919 2322427 2322427 1254388 1254388 5322947 5322947 920444 920444 2454726 2454726 443726 443726 6428698 6428698 9493604 9493604 PURCHASED POWER 67418692 67418692 CONSUMER ACCOUNTS 3638527 3638527 DISTRIBUTION MAINTENANCE 3514833 3514833 ADMIN. & GENERAL EXP. 2781561 2781561 -266717 -266717 105727856 105727856 0 0 653179 861568 400735 13434452 13107715 2906616 2394479 6820080 7053904 424518 916044 354235146 94685209 245443623 259549937 28716045 31124120 3672 3672 298402185 315412174 20289455 14298285 158598467 182294389 4028673 3169007 182916595 199761681 X 115485590 115650493 115485590 115650493 298402185 315412174 X 0 164903 X false true X true false 5139226 5139226 24930480 4970909 19959571 324165440 89714300 234451140 259549937 PATRONAGE CAPITAL NCEMC 22641067 C PATRONAGE CAPITAL CFC 2751321 C PATRONAGE CAPITAL TEMA 2582491 C OTHER INVESTMENTS 1126413 C NRUCFC CTC'S 697967 C PATRONAGE CAPITAL NRTC 569765 C PATRONAGE CAPITAL FEDERATED 425850 C PATRONAGE CAPITAL NISC 329246 C 31124120 UNCLAIMED CAPITAL CREDITS 1679745 CONSUMER DEPOSITS 1485442 ACCRUED INTEREST PAYABLE 3820 3169007 105727856 105727856 105727856 103405429 103405429 2322427 2322427 105727856 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL CREDITS 2,322,427 X X X false true false JAMES E MANGUM JR CEO & GEN. MGR. 623946 106947 201920 45972 25874 1004659 13820 DON BOWMAN MANAGER OF OPERATION 307268 78257 12279 30513 33207 461524 CYNTHIA M CURRIN GENERAL COUNSEL 298139 54318 40282 28237 6564 427540 CHRISTOPHER D WRIGHT MGR OF ENGINEERING 169606 29678 518 17139 30722 247663 KIRK METCALF VP OF MARKETING/COMM 150347 28345 15201 16613 30591 241097 STEVE BALLARD MGR OF CYBERSECURITY 143971 24270 6272 14265 14573 203351 SCHEDULE J, PAGE 1, PART I, LINE 4 JAMES E. MANGUM, JR. 0 13,820 0 SCHEDULE J, PART III NONQUALIFIED DEFERRED COMPENSATION PLAN (NQDC PLAN): THE CORPORATION'S BOARD OF DIRECTORS APPROVED THE ADOPTION OF AND PARTICIPATION IN NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION'S PENSION RESTORATION DEFERRED COMPENSATION PLAN (NRECA PRP) TO PROVIDE SUPPLEMENTAL PAYMENTS TO CERTAIN EMPLOYEES DUE TO LIMITATIONS UNDER INTERNAL REVENUE CODE OF 1986 RELATING TO PERMISSIBLE PAYMENTS FROM QUALIFIED PENSION PLANS. ELIGIBLE PARTICIPANTS IN THE NRECA PRP HAVE A PENSION LIMITATION UPON VESTING IN THE PLAN, AS DEFINED IN SECITION 2(B) OF THE NRECA PRP, APPLIED TO REDUCE THE AMOUNT OF PAYMENT THAT WOULD OTHERWISE BE PAYABLE BY THE RETIREMENT SECURITY PLAN SPONSORED BY NRECA. THE PENSION LIMITATION IS THE DIFFERENCE BETWEEN THE SINGLE LUMP SUM EQUIVALENT OF THE PARTICIPANT'S ACCRUED BENEFIT FROM THE RETIREMENT SECURITY PLAN AS CALCULATED BY NRECA WITHOUT THE LIMITATIONS PROVIDED IN SECTIONS 415 OF THE INTERNAL REVENUE CODE OF 1986, AND THE PARTICIPANT'S ACCRUED BENEFIT FROM THE RETIREMENT SECURITY PLAN AS CALCULATED BY NRECA AFTER APPLICATION OF THE LIMITATIONS OF SECTIONS 415 AND 401(A)(17) OF THE CODE. DURING 2019, JAMES E. MANGUM, JR. BECAME VESTED IN THE NRECA PRP PLAN. DURING 2023, MANGNUM RECEIVED A DISTRIBUTION IN THE AMOUNT OF 13,820 WHICH IS INCLUDED IN SCHEDULE J,PART II (I)(B)(III) AS OTHER COMPENSATION, AND ALSO INCLUDED IN FORM 990, PART VII, 10(D). THE CORPORATION RECOVERED THE DISTRIBUTION FROM NRECA. THIS AMOUNTS IS ALSO REPORTED IN COLUMN F, AS THE AMOUNTS HAS BEEN REPORTED ON A PRIOR YEAR FORM 990. FORM 990 - ORGANIZATION'S MISSION WAKE ELECTRIC PROVIDES RELIABLE, SAFE, AND AFFORDABLE ENERGY AND RELATED SERVICES. WAKE ELECTRIC OPERATES AS A COOPERATIVE BUSINESS AND CONTINUALLY IMPROVES ITS SERVICES TO MEET THE NEEDS OF OUR MEMBERS AND ENHANCE THEIR QUALITY OF LIFE. WAKE ELECTRIC OPERATES A SUSTAINABLE ELECTRIC SYSTEM. SUSTAINABLE MEANS DELIVERING AFFORDABLE, INCREASINGLY CLEAN ELECTRICITY OVER A GRID THAT IS MORE EFFICIENT, RESILIENT AND CAPABLE OF SUPPORTING NEW ENERGY RESOURCES. FORM 990, PAGE 6, PART VI, LINE 6 THE COOPERATIVE HAS MEMBERS AS PROVIDED FOR 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 CEO IS REVIEWED AND APPROVED THROUGH THE USE OF A PERFORMANCE REVIEW CONDUCTED BY THE MEMBER-ELECTED BOARD. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR OTHER KEY EMPLOYEES IS REVIEWED AND APPROVED THROUGH THE USE OF A PERFORMANCE REVIEW CONDUCTED BY THE CEO. 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 XI, LINE 9 PATRONAGE CAPITAL CREDITS 2,322,427 MEMBERSHIP FEES 8,870 CAPITAL CREDIT RETIREMENTS -2,166,394 TOTAL 164,903 TRIANGLE SERVICES GROUP INC PO BOX 1229 WAKE FOREST NC 27588 562136060 ENERGY SRV NC N/A C CORP -44546 236195 true false false false false false false false false false false false false false false false true true false false TRIANGLE SERVICES GROUP INC Q 68667 COST TRIANGLE SERVICES GROUP INC P 1320 COST