2023-10-13T12:41:24-04:00 2022-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2022-01-01 560123345 PEE DEE ELECTRIC MEMBERSHIP CORP PEED 7046942114 9825 US HIGHWAY 74 EAST LILESVILLE NC 28091 DONALD H SPIVEY CEO & EXEC. VP 7046942114 2023-08-23 true DONALD SPIVEY 999009999 true G STEVEN GILLIAM CPA P00348264 8043231313 2023-08-23 2022 2023-04-26 12:10:37Z DONALD H SPIVEY 9825 US HIGHWAY 74 EAST LILESVILLE NC 28091 50721709 false X WWW.PDEMC.COM X 1939 NC SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF PDEMC 10 10 69 0 116234 112341 47008118 50088555 730792 348094 1355858 67087 49211002 50616077 101632 106049 3478234 2457614 7534982 7791317 0 0 37932462 40957481 49047310 51312461 163692 -696384 156933151 162669203 86168769 88093271 70764382 74575932 SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF PDEMC false false SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF PDEMC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 29,069,724 DEPRECIATION AND AMORTIZATION 5,508,284 OTHER SALARIES AND WAGES 5,005,361 false false false false false false false false false true false true false true true true false false false false false false false false false false true false true false false false false false false false false false false false false false false true 20 0 true 69 true false false false false true false 49279672 1195815 false false false X 10 10 false false false false true true true true true false false true true true true true true true true false X THE CORPORATION 7046942114 9825 US HIGHWAY 74 EAST LILESVILLE NC 28091 DONALD H SPIVEY CEO & EXEC. 40.00 X 262214 0 236080 ANTHONY EASON VP ENG. & OP 40.00 X 164263 0 51109 DAVID BURR DISTRICT MGR 40.00 X 117520 0 84485 JAKE MCGEE DISTRICT MGR 40.00 X 127215 0 67620 CATHY PAGE VP OF MEMBER 40.00 X 129032 0 52250 CHRIS PARKER CREW FOREMAN 40.00 X 112441 0 60789 CHRIS BAXLEY LINEMAN FIRS 40.00 X 116531 0 46698 JORDAN HILDRETH VP OF FINANC 40.00 X 96077 0 24788 PHILIP MABRY FORMER VP OF 40.00 X 86350 0 15507 RICHARD H JOHNSON PRESIDENT 7.00 X X 14978 0 0 BENJAMIN R LYBRAND DIRECTOR 6.00 X 9719 0 0 RICHARD V MELTON DIRECTOR 4.00 X 8392 0 0 DONALD A THOMPSON VICE PRESIDE 2.00 X X 6311 0 0 MARCIA A LAMBETH DIRECTOR 3.00 X 6038 0 0 BENJAMIN MCCALLUM JR SEC. / TREAS 2.00 X X 4648 0 0 PAUL L TURNER III DIRECTOR 2.00 X 3217 0 0 WINNIE M BENNETT DIRECTOR 1.00 X 2982 0 0 ROBERT C DAVIS JR DIRECTOR 1.00 X 2630 0 0 CRAIG W RATLIFF DIRECTOR 1.00 X 2421 0 0 1272979 639326 11 false true false XYLEM 208 E PLUME ST SUITE 250 NORFOLK VA 23510 RIGHT OF WAY 1231880 LEE ELECTRICAL CONSTRUCTION PO BOX 55 ABERDEEN NC 28315 CONSTRUCTION 906100 MERIDIAN COOPERATIVE 100 ASHFORD CENTER NORTH SUITE 500 ATLANTA GA 30338 COMP. SOFTWARE 592413 COOPERATIVE BUILDING SOLUTIONS 77 WESTPORT PLAZA DRIVE SUITE 250 ST LOUIS MO 63146 CONSTRUCTION 291457 UNION POWER COOPERATIVE PO BOX 5014 MONROE NC 28111 DISPATCHING 226652 9 112341 112341 SALE AND DIST. OF ELECT. 221000 49346699 49346699 CONTRIB. IN AID OF CONST. 221000 579709 579709 PATRONAGE ALLOC. RECEIVED 221000 162147 162147 50088555 150763 150763 246222 246222 246222 246222 302963 105632 197331 197331 197331 OTHER 233 233 EARNINGS FROM EQ. INV. -179368 -179368 -179135 50616077 49909420 594316 X 106049 2457614 997724 5005361 904428 434662 449142 9912 1224749 646300 2050401 5508284 COST OF POWER 29069724 DISTRIBUTIION MAINTENANCE 3384830 ADMIN & GENERAL 1569190 DISTRIBUTION OPERATION 828709 -3334618 51312461 0 0 0 3529661 7876798 1299 31903 9450206 9575273 1287753 1777608 392334 623650 164866390 41916180 120532296 122950210 12454622 13523260 9284980 6310501 156933151 162669203 4275910 5100087 69065321 74262905 12827538 8730279 86168769 88093271 X 70764382 74575932 70764382 74575932 156933151 162669203 X -696384 4507934 X false true X true false 1197124 1197124 163669266 41916180 121753086 122950210 PATRONAGE CAPITAL CERTIFICATES 12550667 C CAPITAL TERM CERTIFICATES 738985 C OTHER 229108 C MEMBERSHIP FEES 4500 C 13523260 APBO 5039288 DEFERRED CREDITS 1834547 OTHER CURRENT LIABILITIES 1193653 CONSUMER DEPOSITS 662791 8730279 X 50654996 618628 618628 50036368 579709 579709 50616077 48343989 48343989 2968472 2968472 51312461 SCHEDULE D, PAGE 3, PART X THE CORPORATION FOLLOWS THE GUIDANCE FOR "UNCERTAIN TAX POSITIONS" IN ACCORDANCE WITH ACCOUNTING PRINIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE CORPORATION HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. SCHEDULE D, PAGE 4, PART XI, LINE 2D ADJ. FOR CASH PAT. REC. 1,046,535 BOOK TAX DIFFERENCE SANDHILLS UTILITY SERV 89,243 CARE TO SHARE RECLASS -112,341 UNREALIZED GAIN ON INVESTMENTS -404,809 SCHEDULE D, PAGE 4, PART XI, LINE 4B CIAC 579,709 SCHEDULE D, PAGE 4, PART XII, LINE 4B CARE TO SHARE ACTIVITY 106,049 PAT. DIV. PAID TO MEMBERS 2,457,614 UNREALIZED GAIN ON INVESTMENTS 404,809 false CITY OF HAMLET FD 201 MAIN ST HAMLET NC 28345 566001239 7500 FMV EQUIPMENT PURCHASE EAST ROCKINGHAM FD 487 AIRPORT RD ROCKINGHAM NC 28380 561120480 7500 FMV EQUIPMENT PURCHASE HAMLET RESCUE & EMS 302 CHAMPLAIN ST HAMLET NC 28345 561858714 7500 FMV EQUIPMENT PURCHASE HOFFMAN FD 3373 N US 1 HWY HOFFMAN NC 28347 581632477 7500 FMV EQUIPMENT PURCHASE WEST END FIRE & RESCUE PO BOX 596 4203 NC HWY 73 WEST END NC 27376 561410545 7500 FMV EQUIPMENT PURCHASE CANDOR VOL FD 215 N SCHOOL ST CANDOR NC 27229 561382772 7500 FMV EQUIPMENT PURCHASE RICHMOND COUNTY RESCUE SQUAD 1004 ROCKINGHAM RD ROCKINGHAM VA 23116 237441293 7500 FMV EQUIPMENT PURCHASE PEACHLAND FIRE DISTRICT PO BOX 72 PEACHLAND NC 28133 561363895 7500 FMV EQUIPMENT PURCHASE LILESVILLE FD 202 WEST WALL ST LILESVILLE NC 28091 566001267 7212 FMV EQUIPMENT PURCHASE X X X X X false false false DONALD H SPIVEY CEO & EXEC. VP 262214 218755 17325 498294 ANTHONY EASON VP ENG. & OPERATIONS 164263 44345 6764 215372 DAVID BURR DISTRICT MGR OF OPS 117520 84485 202005 JAKE MCGEE DISTRICT MGR OF OPS 127215 67620 194835 CATHY PAGE VP OF MEMBER SVCS 129032 45486 6764 181282 CHRIS PARKER CREW FOREMAN 112441 54025 6764 173230 CHRIS BAXLEY LINEMAN FIRST CLASS 116531 35735 10963 163229 FORM 990 FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE- EXISTING OBLIGATION IN PEE DEE ELECTRIC MEMBERSHIP CORPORATION'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. IRS INSTRUCTIONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE NOW REPORTED ON LINE 4. FORM 990, PART IX, TRAVEL COSTS TRAVEL COSTS INCLUDE THE EXPENSES OF PURCHASING, LEASING, OPERATING, AND REPAIRING ANY VEHICLES OWNED BY THE CORPORATION AND USED IN THE CORPORATION'S ACTIVITIES. TRAVEL COSTS ALSO INCLUDE TRANSPORTATION COSTS, MEALS AND LODGING, AND PER DIEM PAYMENTS. FORM 990, PAGE 6, PART VI, LINE 6 PEE DEE 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 IS THE GOVERNING BODY OF THE COOPERATIVE. FORM 990, PAGE 6, PART VI, LINE 7A ALL MEMBERS OF PEE DEE EMC RECEIVE ONE VOTE WITH RESPECT TO SELECTING THE GOVERNING 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 THE COOPERATIVE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B THE CEO PROVIDES A COPY OF THE 990 TO THE FINANCE COMMITTEE AND GOVERNING BODY PRIOR TO FILING WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C EACH DIRECTOR, OFFICER AND KEY EMPLOYEE MUST ANNUALLY COMPLETE AND SIGN A CONFLICT OF INTEREST FORM. FORM 990, PAGE 6, PART VI, LINE 15A THE GOVERNING BODY HAS A COMPENSATION COMMITTEE THAT REVIEWS THE CEO'S PERFORMANCE ANNUALLY AND RECOMMENDS SALARY CHANGES TO THE BOARD. AS PART OF THIS REVIEW, THE COMMITTEE CONSIDERS THE RECOMMENDATIONS FROM THE OUTSIDE SALARY CONSULTANT AND OTHER STATEWIDE COMPARISON DATA FROM ELECTRIC COOPERATIVES THROUGHOUT THE STATE. THE CEO REVIEWS AND RECOMMENDS SALARY CHANGE. FORM 990, PAGE 6, PART VI, LINE 15B THE CEO REVIEWS AND RECOMMENDS SALARY CHANGES FOR OTHER OFFICERS AND KEY EMPLOYEES TO THE COMPENSATION COMMITTEE FOR APPROVAL BASED ON THE RECOMMENDATION OF AN OUTSIDE SALARY CONSULTANT. FORM 990, PAGE 6, PART VI, LINE 19 FINANCIAL DATA IS PROVIDED TO THE MEMBERSHIP AT THE ANNUAL MEETING AND ALSO INCLUDED ON THE COOPERATIVE'S WEBSITE. IN ADDITION, THE ANNUAL REPORT IS PROVIDED TO THE MEMBERSHIP IN THE COOP'S MONTHLY MAGAZINE. OTHER GOVERNING DOCUMENTS INCLUDING THE FORM 990 ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 OCL ADJUSTMENT 2,918,301 PAT. DIV. PAID TO MEMBERS' ACCTS NOT EXP PER GAAP 2,457,614 NONCASH PATRONAGE ALLOCATIONS NOT REV PER IRS 1,046,535 BOOK TAX DIFFERENCE SANDHILLS UTILITY SVCS 89,243 NET RETIREMENT OF CAPITAL CREDITS -1,417,758 CIAC NOT REVENUE PER GAAP -579,709 CARE TO SHARE ACTIVITY -6,292 TOTAL 4,507,934