2022-04-28T10:25:06-05:00 2021-12-31 540504608 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN STREET SW ROANOKE VA 24014 990 2021-01-01 560227152 FOUR COUNTY ELECTRIC MEMBERSHIP CORP FOUR 9102592171 PO BOX 667 BURGAW NC 284250667 DON GATTON CHIEF EXECUTIVE OFFICER 9102592171 2022-04-27 1 DON GATTON 999009999 PATRICK PITTMAN P00587461 5403450936 2022-04-25 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DON GATTON PO BOX 667 BURGAW NC 284250667 103654934 0 X WWW.FOURCTY.ORG X 1937 NC TO PROVIDE HIGHLY RELIABLE ELECTRIC SERVICES, INNOVATIVE ENERGY SOLUTIONS AND OUTSTANDING SERVICE TO OUR MEMBERS AND COMMUNITIES. 10 10 112 0 0 0 0 0 97767033 103198579 648215 456355 0 0 98415248 103654934 0 0 2078519 2050306 2014295 2403674 0 0 0 90499689 93760238 94592503 98214218 3822745 5440716 230909701 229795069 139068455 134852627 91841246 94942442 TO PROVIDE HIGHLY RELIABLE ELECTRIC SERVICES, INNOVATIVE ENERGY SOLUTIONS AND OUTSTANDING SERVICE TO OUR MEMBERS AND COMMUNITIES. 0 0 FOUR COUNTY ELECTRIC IS A NOT-FOR-PROFIT ELECTRIC COOPERATIVE OWNED BY THE PEOPLE IT SERVES. AS A HOMETOWN UTILITY, FOUR COUNTY IS COMMITTED TO PROVIDING SAFE, RELIABLE AND AFFORDABLE ENERGY TO ITS MORE THAN 32,000 COMMERCIAL AND RESIDENTIAL MEMBER-OWNERS IN SIX NORTH CAROLINA COUNTIES, INCLUDING BLADEN, DUPLIN, PENDER, SAMPSON, COLUMBUS AND ONSLOW COUNTIES. TODAY, MORE THAN 5,000 MILES OF OVERHEAD, UNDERGROUND, AND TRANSMISSION LINES PROVIDE RELIABLE ELECTRIC SERVICE TO OVER 32,000 SERVICES WHICH INCLUDE RESIDENCES, FARMS, BUSINESSES, INDUSTRIES, CHURCHES, AND SCHOOLS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 25 0 1 112 1 0 0 0 0 0 0 0 99578365 3628285 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NC X GARY CHITWOOD 9102592171 PO BOX 667 BURGAW NC 284250667 FRANKLIN WILLIAMS PRESIDENT 6.25 X X 20272 0 0 KENNETH THORNTON VICE PRESIDENT 4.50 X X 17247 0 0 S EUGENE JORDAN SECRETARY/TREASURER 5.50 X X 17522 0 0 RW BLANCHARD JR DIRECTOR 4.75 X 17247 0 0 CLAYTON HOLLINGSWORTH DIRECTOR 4.75 X 18347 0 0 BERTICE LANIER DIRECTOR 5.00 X 18072 0 0 ARLESTER FULLWOOD DIRECTOR 4.75 X 17247 0 0 JOHN STEVEN MATTHIS DIRECTOR 4.50 X 17247 0 0 E CARLTON RAYNOR DIRECTOR 4.50 X 16697 0 0 RONALD J ALLEN DIRECTOR 3.75 X 15872 0 0 MITCHELL KEEL CEO - FORMER 40.00 X 482593 0 114382 GARY CHITWOOD CHIEF FINANCIAL OFFICER 40.00 X 180383 0 20186 DON GATTON CEO 40.00 X 178856 0 92435 ANTHONY A KENT VICE PRES. INFORMATION TEC 40.00 X 120610 0 38250 GREGORY S SAGER VICE PRES. MEMBER SERVICES 40.00 X 119888 0 38446 FRANKLIN S COOK VICE PRES. OPERATIONS 40.00 X 125310 0 47482 GREGG A COHN VICE PRES. ENGINEERING 40.00 X 167528 0 78554 1550938 0 429735 7 0 1 0 ROWE TREE CO 6640 MALPASS CORNER ROAD CURRIE NC 28435 TREE CREWS 1306879 MERIDIAN COOPERATIVE INC 100 ASHFORD CENTER NORTH SUITE 500 ATLANTA GA 303384865 DATA PROCESSING 956515 LINETEC SERVICES LLC 19820 NORTH 7TH AVENUE SUITE 120 PHOENIX AZ 85027 LINE CONSTRUCTION 747284 KENNEDY TREE SERVICE 132 SYDNEY CAVENAUGH LANE WALLACE NC 28466 TREE CREWS 690473 SUMTER UTILITIES INC POST OFFICE BOX 579 SUMTER SC 29151 LINE CREW 657500 10 ELECTRICITY TO MEMBERS 221000 98487958 98487958 PATRONAGE ALLOCATION 221000 2627815 2627815 CONTRIBUTION IN AID OF CONSTRUCTI 221000 1634522 1634522 ELECTRIC PROPERTY RENTAL 221000 448284 448284 103198579 456355 456355 103654934 102750295 0 904639 2050306 1375169 825917 202588 493547 519622 3479430 7687076 77143 COST OF POWER 65214524 DISTRIBUTION MAINTENANC 4845608 ADMINISTRATIVE & GENERA 4231830 CONSUMER ACCOUNTS 3127203 4084255 98214218 3753122 4028796 6253785 2000000 9193316 6870050 4686522 4586508 1680902 2132624 1857060 1462530 263419418 81708673 178882423 181710745 24602571 27003816 230909701 229795069 10811173 12061906 3500000 3500000 112100206 106162298 12657076 13128423 139068455 134852627 X 0 0 0 0 91841246 94942442 91841246 94942442 230909701 229795069 X 5440716 -2339520 X X 0 1 X 1 0 9898381 9898381 15435367 4344751 11090616 234696504 77363922 157332582 3389166 3389166 181710745 NRUCFC CERTIFICATES 1150225 C PATRONAGE CAPITAL CERTIFICATES 25304512 C MEMBERSHIPS 34850 C DIVERSIFIED ENERGY LLC 1000 C SPECIAL FUNDS 513229 C 27003816 DEFERRED CREDITS 1058755 CUSTOMER DEPOSITS 1224740 ACCUMULATED PROVISION FOR POSTRETIREMENT BENEFITS 10844928 13128423 102020412 0 102020412 1634522 1634522 103654934 96163912 0 96163912 2050306 2050306 98214218 PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTIBUTIONS IN AID OF CONSTRUCTION 1,634,522. PART XII, LINE 4B - OTHER ADJUSTMENTS: BENEFITS PAID TO MEMBERS 2,050,306. X X 0 0 0 MITCHELL KEEL CEO - FORMER 482593 0 0 0 0 0 97566 0 16816 0 596975 0 0 0 DON GATTON CEO 178856 0 0 0 0 0 72630 0 19805 0 271291 0 0 0 GREGG A COHN VICE PRES. ENGINEERING 167528 0 0 0 0 0 62977 0 15577 0 246082 0 0 0 GARY CHITWOOD CHIEF FINANCIAL OFFICER 180383 0 0 0 0 0 0 0 20186 0 200569 0 0 0 FRANKLIN S COOK VICE PRES. OPERATIONS 125310 0 0 0 0 0 30410 0 17072 0 172792 0 0 0 ANTHONY A KENT VICE PRES. INFORMATION TEC 120610 0 0 0 0 0 23043 0 15207 0 158860 0 0 0 GREGORY S SAGER VICE PRES. MEMBER SERVICES 119888 0 0 0 0 0 18740 0 19706 0 158334 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION OPERATES AS A COOPERATIVE. ANY PERSON, BUSINESS, ORGANIZATION, ASSOCIATION, OR AGENCY IS ELIGIBLE TO BECOME A MEMBER OF, AND RECEIVE ELECTRIC SERVICE FROM, FOUR COUNTY EMC. HOWEVER, NO PERSON SHALL HAVE MORE THAN ONE MEMBERSHIP IN THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING OF THE MEMBERS. EACH ACTIVE MEMBER IS ALLOWED ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B ACTIVE MEMBERS MUST APPROVE OF THE DISPOSAL OF A SIGNIFICANT PERCENTAGE OF THE ORGANIZATION'S ASSETS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY ACCOUNTING PERSONNEL BEFORE FURNISHING IT TO THE CHIEF EXECUTIVE OFFICER AND THE BOARD OF DIRECTORS FOR THEIR APPROVAL. THIS REVIEW INCLUDES COMPARING THE 990 TO THE AUDITED FINANCIAL STATEMENTS AND REQUIRED ANNUAL FILINGS WITH THE RURAL UTILITIES SERVICE. FORM 990, PART VI, SECTION B, 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 PAST COURSE OF ACTION IN A PARTICULAR SITUATION". A COPY OF THE POLICY IS POSTED AT EACH OFFICE LOCATION AND A COPY CAN BE REQUESTED FROM A SUPERVISOR. EMPLOYEES ARE NOTIFIED ONCE A YEAR ABOUT THE POLICY. 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. ONCE A YEAR,MEMBERS OF THE BOARD OF DIRECTORS PROVIDE WRITTEN DOCUMENTATION OF ANY KNOWN CONFLICTS OF INTEREST. NO SUCH CONFLICTS WERE NOTED DURING THE REPORTING YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PERIODICALLY USES THE SERVICES OF A CONSULTING SERVICE WHICH COMPARES THE ORGANIZATION'S COMPENSATION WITH THAT OF SIMILAR ORGANIZATIONS FOR ALL CLASSES OF EMPLOYEES. SALARIES OF MANAGEMENT PERSONNEL, INCLUDING THE CHIEF EXECUTIVE OFFICER, ARE REVIEWED BY THE BOARD OF DIRECTORS, AND FILES ARE MAINTAINED FOR THE REVIEW PROCESS BY WHICH MERIT RAISES ARE GRANTED. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE BYLAWS ARE PROVIDED TO NEW MEMBERS. A CONDENSED FINANCIAL STATEMENT IS PROVIDED TO THE MEMBERS AS A PART OF THE ORGANIZATION'S ANNUAL REPORT. THE FULL FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE ORGANIZATION'S OFFICE. THE CONFLICT OF INTEREST POLICY IS A PART OF THE ORGANIZATION'S CODE OF CONDUCT, WHICH IS AVAILABLE UPON REQUEST FROM THE ORGANIZATION'S OFFICE. FORM 990, PART XI, LINE 9: ROUNDING ADJUSTMENT FAS 158 AMORTIZATION ADJUSTMENT -704,998. CONTRIBUTIONS IN AID OF CONSTRUCTION -1,634,522. FORM 990, PART X11, LINE 2C THE PROCESS OF FINANCIAL STATEMENT REVIEW HAS NOT CHANGED FROM THE PRIOR YEAR