LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION (EIN 56-0305124)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-10-27
- IRS object ID
- 202323009349300707
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-10-27T09:06:59-04:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 541320089 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ADAMS JENKINS & CHEATHAM | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 231 WYLDEROSE DR | AddressLine1Txt |
| City | MIDLOTHIAN | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23113 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560305124 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LUMBEE RIVER ELEC MEMBERSHIP CORP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LUMB | BusinessNameControlTxt |
| Phone | 9108434131 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6090 NC HIGHWAY 711 | AddressLine1Txt |
| City | PEMBROKE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28372 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL LEONARD | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 9108434131 | PhoneNum |
| Signature | 2023-10-24 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DANIEL | PersonFirstNm |
| Person Last | LEONARD | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | G STEVEN GILLIAM CPA | PreparerPersonNm |
| PTIN | P00348264 | PTIN |
| Phone | 8043231313 | PhoneNum |
| Preparation | 2023-10-25 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RANDALL JONES | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6090 NC HIGHWAY 711 | AddressLine1Txt |
| City | PEMBROKE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28372 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $152,559,685 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LUMBEERIVER.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF LREMC. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 124 | TotalEmployeeCnt |
| Total Gross UBI | $709,456 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $4,693 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $154,841,217 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $152,343,280 | CYProgramServiceRevenueAmt |
| PY Investment Income | $734,880 | PYInvestmentIncomeAmt |
| CY Investment Income | $595,678 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,471,012 | PYOtherRevenueAmt |
| CY Other Revenue | -$442,942 | CYOtherRevenueAmt |
| PY Total Revenue | $157,047,109 | PYTotalRevenueAmt |
| CY Total Revenue | $152,496,016 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $14,268,098 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $7,095,576 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $14,411,120 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $13,165,799 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $127,700,968 | PYOtherExpensesAmt |
| CY Other Expenses | $134,712,614 | CYOtherExpensesAmt |
| PY Total Expenses | $156,380,186 | PYTotalExpensesAmt |
| CY Total Expenses | $154,973,989 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $666,923 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$2,477,973 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $379,137,128 | TotalAssetsBOYAmt |
| Total Assets EOY | $369,886,144 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $216,449,771 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $207,060,706 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $162,687,357 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $162,825,438 | NetAssetsOrFundBalancesEOYAmt |
| Mission | SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF LREMC. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF LREMC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES, WERE AS FOLLOWS: COST OF POWER: 105,377,695 DEPRECIATION: 12,649,845 SALARIES: 9,170,670 | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | false | ScheduleORequiredInd |
| IRP Document | 133 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 124 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Members And Shr Gross Income | $150,097,221 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $3,061,469 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | false | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
| Other | Yes (X) | OtherInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | THE CORPORATION | PersonNm |
| Phone | 9108434131 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6090 NC HIGHWAY 711 | AddressLine1Txt |
| City | PEMBROKE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28372 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| RANDALL JONES | |||||||
| PRESIDENT & | 40.00 | Yes (X) | $234,374 | $0 | $68,366 | ||
| WILLIAM DOCKERY | |||||||
| GENERAL FORE | 61.00 | $161,574 | $0 | $97,082 | Yes (X) | ||
| STEVEN DAVIS | |||||||
| VP INFO TECH | 40.00 | $120,727 | $0 | $110,473 | Yes (X) | ||
| WALTER WHITE | |||||||
| VP OF CORP S | 40.00 | $148,652 | $0 | $66,333 | Yes (X) | ||
| TONY OXENDINE | |||||||
| GENERAL FORE | 49.00 | $126,029 | $0 | $80,032 | Yes (X) | ||
| JOHN DYSON | |||||||
| COO | 40.00 | $149,058 | $0 | $38,331 | Yes (X) | ||
| ELIZABETH LOCKLEAR | |||||||
| SUP OF ACCT. | 40.00 | Yes (X) | $105,327 | $0 | $10,814 | ||
| RORY C EDDINGS | |||||||
| CHAIRMAN | 4.00 | Yes (X) | $21,300 | $0 | $0 | Yes (X) | |
| RONALD G HAMMONDS | |||||||
| DIRECTOR | 2.00 | $18,600 | $0 | $0 | Yes (X) | ||
| SILVA CHAVIS | |||||||
| DIRECTOR | 3.00 | $18,300 | $0 | $0 | Yes (X) | ||
| KIRK LOWERY | |||||||
| DIRECTOR | 4.00 | $18,300 | $0 | $0 | Yes (X) | ||
| ANTHONY HUNT | |||||||
| TREASURER | 3.00 | Yes (X) | $17,400 | $0 | $0 | Yes (X) | |
| RHONDA M GOINS-DIAL | |||||||
| DIRECTOR | 3.00 | $17,100 | $0 | $0 | Yes (X) | ||
| SHERRY CARTER | |||||||
| DIRECTOR | 3.00 | $16,800 | $0 | $0 | Yes (X) | ||
| SPENCER LOCKLEAR | |||||||
| DIRECTOR | 3.00 | $16,500 | $0 | $0 | Yes (X) | ||
| ROGER OXENDINE | |||||||
| SECRETARY | 2.00 | Yes (X) | $16,200 | $0 | $0 | Yes (X) | |
| ERIC LOCKLEAR | |||||||
| VICE CHARIMA | 2.00 | Yes (X) | $15,600 | $0 | $0 | Yes (X) | |
| JAMES HARDIN | |||||||
| DIRECTOR | 2.00 | $15,000 | $0 | $0 | Yes (X) | ||
| AUTRY LOWRY | |||||||
| DIRECTOR | 2.00 | $14,400 | $0 | $0 | Yes (X) | ||
| RON ANDERSON | |||||||
| DIRECTOR | 2.00 | $11,200 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,262,441 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $471,431 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 25 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| EAST COAST ELECTRICAL | |||||
| 3688 UNION CHAPEL RD | PEMBROKE | NC | 28372 | CONSTRUCTION | $3,952,805 |
| XYLEM INC | |||||
| 208 E PLUME STREET STE 250 | NORFOLK | VA | 23510 | TREE TRIMMING | $2,421,585 |
| LEE ELECTRICAL CONSTRUCTION | |||||
| PO BOX 55 | ABERDEEN | NC | 28315 | CONSTRUCTION | $2,373,642 |
| DIRECTIONAL SERVICES INC | |||||
| PO BOX 385 | HOPE MILLS | NC | 28348 | ELECTRICAL | $1,444,515 |
| J&J UNDERGROUND UTILITIESLLC | |||||
| PO BOX 14589 | ARCHDATE | NC | 27263 | FIBER CONST. | $528,627 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALE OF ELECTRICITY | 221000 | $150,097,221 | $150,097,221 |
| CONTRIB IN AID OF CONSTR. | 221000 | $1,746,111 | $1,746,111 |
| PATRONAGE CAPITAL REC. | 221000 | $499,948 | $499,948 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $152,343,280 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $576,175 | TotalRevenueColumnAmt |
| Exclusion | $576,175 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $105,645 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $625 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $105,020 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $105,020 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $9,420 | UnrelatedBusinessRevenueAmt |
| Exclusion | $95,600 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $61,653 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $42,150 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $19,503 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $19,503 | TotalRevenueColumnAmt |
| Exclusion | $19,503 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cost Of Goods Sold | $20,894 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$20,894 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$20,894 | UnrelatedBusinessRevenueAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| ADMIN. SERVICES | 221000 | $720,930 | $720,930 | |
| HOME WARRANTY WIRING | 221000 | $167,537 | $167,537 | |
| EQUITY EARNINGS (LOSS) SUBSID | 221000 | -$1,415,535 | -$1,415,535 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | -$527,068 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $152,496,016 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $151,095,282 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $709,456 | UnrelatedBusinessRevenueAmt |
| Exclusion | $691,278 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,095,576 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $635,581 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,170,670 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,706,139 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $845,027 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $808,382 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $64,479 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,433,597 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $299,815 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,772,358 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,649,845 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $105,377,695 |
| ADMIN AND GENERAL | $6,644,834 |
| DISTRIBUTION MAINTENANCE | $4,386,939 |
| DISTRIBUTION OPERATION | $1,990,278 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$2,907,226 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $154,973,989 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,065,958 | BOYAmt |
| EOY | $15,288,087 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $100,000 | BOYAmt |
| EOY | $100,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,494,096 | BOYAmt |
| EOY | $16,220,330 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,595,402 | BOYAmt |
| EOY | $2,698,673 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,090,870 | BOYAmt |
| EOY | $5,816,915 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $218,994 | BOYAmt |
| EOY | $650,990 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $411,088,226 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $132,990,070 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $268,482,779 | BOYAmt |
| EOY | $278,098,156 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,200,505 | BOYAmt |
| EOY | $8,818,963 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,028,164 | BOYAmt |
| EOY | $41,674,178 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $860,360 | BOYAmt |
| EOY | $519,852 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $379,137,128 | BOYAmt |
| EOY | $369,886,144 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,699,850 | BOYAmt |
| EOY | $17,972,208 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $173,800,372 | BOYAmt |
| EOY | $166,141,224 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,949,549 | BOYAmt |
| EOY | $22,947,274 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $216,449,771 | BOYAmt |
| EOY | $207,060,706 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,687,357 | BOYAmt |
| EOY | $162,825,438 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,687,357 | BOYAmt |
| EOY | $162,825,438 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $379,137,128 | BOYAmt |
| EOY | $369,886,144 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$2,477,973 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $2,616,054 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $411,088,226 | OtherCostOrOtherBasisAmt |
| Depreciation | $132,990,070 | DepreciationAmt |
| Book Value | $278,098,156 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $278,098,156 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PATRONAGE CAPITAL IN ASSOC. ORGS. | $40,294,730 | F |
| CFC CAPITAL TERM CERTIFICATES | $1,126,045 | F |
| CFC MEMBER CAPITAL CERTIFICATE | $250,000 | F |
| OTHER | $3,403 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $41,674,178 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| OTHER POST RETIREMENT BENEFITS | $10,035,735 |
| DEFERRED CREDITS | $9,181,062 |
| CONSUMER DEPOSITS | $3,212,538 |
| OTHER | $517,939 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $22,947,274 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PAGE 3, PART X | FormAndLineReferenceDesc |
| Explanation | THE COOPERATIVE FOLLOWS THE GUIDANCE FOR "UNCERTAIN TAX POSITIONS" IN ACCORDANCE WITH ASC 740. THE COOPERATIVE HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt |
|---|---|---|---|---|---|---|
| RANDALL JONES | ||||||
| PRESIDENT & CEO | $231,674 | $2,700 | $59,955 | $8,411 | $302,740 | |
| WILLIAM DOCKERY | ||||||
| GENERAL FOREMAN | $154,818 | $3,129 | $85,730 | $11,352 | $258,656 | $3,627 |
| STEVEN DAVIS | ||||||
| VP INFO TECHNOLOGY | $110,807 | $9,920 | $102,533 | $7,940 | $231,200 | |
| WALTER WHITE | ||||||
| VP OF CORP SVCS | $137,857 | $5,011 | $53,975 | $12,358 | $214,985 | $5,784 |
| TONY OXENDINE | ||||||
| GENERAL FOREMAN | $120,144 | $4,072 | $72,174 | $7,858 | $206,061 | $1,813 |
| JOHN DYSON | ||||||
| COO | $142,341 | $2,100 | $23,335 | $14,996 | $187,389 | $4,617 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 LUMBEE RIVER 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, PAGE 6, PART VI, LINE 6 | LUMBEE RIVER 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 LUMBEE RIVER EMC ARE ENTITLED TO ONE VOTE WITH RESPECT TO ELECTING THE GOVERNING BOARD OF DIRECTORS. THERE ARE 13 DIRECTORS THAT ARE ELECTED EVERY 3 YEARS. |
| 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 | NO REVIEW WAS OR WILL BE CONDUCTED. |
| FORM 990, PAGE 6, PART VI, LINE 12C | CONFLICTS OF INTEREST ARE COVERED UNDER THE ORGANIZATION'S CODE OF CONDUCT, WHICH STATES "EMPLOYEES ARE ENCOURAGED TO TALK TO SUPERVISORS, MANAGERS OR OTHER APPROPRIATE PERSONNEL ABOUT OBSERVED ILLEGAL OR UNETHICAL BEHAVIOR, AS WELL AS ACTUAL OR SUSPECTED VIOLATIONS OF THE POLICY OF WHICH THEY ARE AWARE, OR CONCERNS ABOUT THE BEST COURSE OF ACTION IN A PARTICULAR SITUATION." A COPY OF THE POLICY IS POSTED ON-LINE AT EACH OFFICE LOCATION. EMPLOYEES ARE NOTIFIED ONCE A YEAR ABOUT THE POLICY AND ARE EXPECTED TO REVIEW IT. EMPLOYEES ARE EXPECTED TO COOPERATE IN INTERNAL INVESTIGATIONS OF MISCONDUCT. DIRECTORS ARE SIMILARLY ENCOURAGED TO DISCUSS SUCH ISSUES WITH FELLOW DIRECTORS OR WITH THE PRESIDENT OF THE BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE EXECUTIVE COMMITTEE WILL REVIEW THE COMPARABLE DATA (NRECA NATIONAL COMPENSATION SURVEY FOR RURAL ELECTRIC SYSTEMS) AND DETERMINE THE COMPENSATION FOR THE CEO FOLLOWING A REVIEW DONE IN JANUARY OF EACH YEAR. COMPENSATION OF OTHER OFFICERS OF THE ORGANIZATION IS REVIEWED EACH JULY. AFTER CAREFUL CONSIDERATION OF LABOR MARKET INFORMATION, PRICE INDEX FOR THE PRECEDING 12-MONTH PERIOD, AND AN ASSESSMENT OF GENERAL ECONOMIC CONDITIONS DIRECTLY AFFECTING THE COOPERATIVE AND ITS ABILITY TO PAY ITS EMPLOYEES, THE BOARD OF DIRECTORS, UPON RECOMMENDATION OF THE CEO, SHALL MAKE A DETERMINATION OF THE PLAN ADJUSTMENT TO BE APPLIED TO THE PAY RATE OF EACH EMPLOYEE. |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE ORGANIZATION HAS DEVELOPED A PERFORMANCE MATRIX THAT TAKES INTO ACCOUNT EMPLOYEE PERFORMANCE AND HOW CLOSE THE EMPLOYEE IS TO THE TOP OF THEIR PAY RANGE BASED ON THEIR JOB TITLE, EXPERIENCE AND PERFORMANCE. COMPENSATION ADJUSTMENTS ARE BASED ON WHERE THE INDIVIDUAL FALLS WITHIN THE PERFORMANCE MATRIX. |
| FORM 990, PAGE 6, PART VI, LINE 18 | THE ANNUAL REPORT IS POSTED ON THE ORGANIZATIONS WEBSITE. FINANCIAL INFORMATION IS ALSO PRINTED IN THE NOVEMBER ISSUE OF THE CAROLINA COUNTRY MAGAZINE AND EMPLOYEE NEWSLETTER THAT IS MAILED TO ALL MEMBERS. OTHER GOVERNING DOCUMENTS INCLUDING THE FORM 990 ARE AVAILABLE UPON REQUEST. |
| FORM 990, PAGE 6, PART VI, LINE 19 | NO DOCUMENTS AVAILABLE TO THE PUBLIC |
| FORM 990, PART VII | PART VII SECTION A COLUMN F THE CORPORATION PARTICIPATES IN THE NRECA GROUP DEFINED PENSION PLAN. AS PART OF THIS PLAN, PARTICIPANTS ARE REQUIRED TO RECOGNIZE THE ACTUARIAL INCREASE IN THE VALUE OF THEIR ACCOUNT ON THE FORM 990. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN IS THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE WITH ALL OTHER THINGS BEING EQUAL. |
| FORM 990, PART XI, LINE 9 | NET INCREASE IN MEMBERSHIPS 3,660 BENEFITS PAID TO MEMBERS NOT EXP PER GAAP 7,095,576 CASH PATRONAGE RECEIVED NOT REV PER GAAP 3,647,927 BOOK TAX DIFFERENCE ON EQUITY INVESTMENTS 5,786 OTHER COMPREHENSIVE INCOME 3,373,389 NET RETIREMENT OF CAPITAL CREDITS -9,764,173 CIAC NOT REVENUE PER GAAP -1,746,111 TOTAL 2,616,054 |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LREMC TECHNOLOGIES LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 830 | AddressLine1Txt |
| City | RED SPRINGS | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28377 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 464244373 | EIN |
| Primary Activities | TELECOM | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | C CORP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C CORP | EntityTypeTxt |
| Share Of Total Income | -$450,798 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $4,333,824 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| LREMC TECHNOLOGIES LLC | ||
| O | $180,938 | FULLY DIST COST |
| LREMC TECHNOLOGIES LLC | ||
| Q | $539,992 | FULLY DIST COST |