2025-06-26T14:31:01-04:00 2024-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2024-01-01 560440935 WAKE ELECTRIC MEMBERSHIP CORPORATION WAKE 9198636300 PO BOX 1229 WAKE FOREST NC 27588 JAMES E MANGUM JR CEO & GEN. MGR. 9198636300 2025-06-25 true true WILLIAM R ROUNTREE P01231836 4787466277 2025-06-26 2024 2025-03-06 01:10:19Z JAMES E MANGUM JR PO BOX 1229 WAKE FOREST NC 27588 117092430 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 61 0 0 104509498 115853417 1244486 859359 -26128 -12134 105727856 116700642 0 2322427 6344554 10396231 11519362 0 0 93009198 98836726 105727856 116700642 0 315412174 335397488 199761681 215604933 115650493 119792555 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 84 0 true 61 true false false false false false 112416591 1604004 false true 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 H MICHAEL DICKERSON PRESIDENT 9.97 X X 40712 0 0 ALLEN NELSON VICE PRESIDE 8.27 X X 35313 0 0 GREG FULLER SECRETARY 7.81 X X 32604 0 0 ROBERT HILL TREASURER 10.54 X X 31004 0 0 SUZY MORGAN DIRECTOR 13.40 X 33813 0 0 ROBERT JOE EDDINS DIRECTOR 5.88 X 28604 0 0 JACKIE THOMPSON DIRECTOR 6.79 X 31404 0 0 W JOSEPH HILBURN JR DIRECTOR 6.98 X 27453 0 0 WILLIAM DANIEL KEEL DIRECTOR 6.77 X 30604 0 0 JAMES E MANGUM JR CEO & GEN. M 50.00 X 1060122 0 75453 DON BOWMAN MANAGER OF O 50.00 X 426183 0 67747 CYNTHIA M CURRIN GENERAL COUN 50.00 X 431089 0 37618 CHRISTOPHER D WRIGHT MGR OF ENGIN 50.00 X 217220 0 49773 KIRK METCALF VP OF MARKET 50.00 X 214376 0 48641 CECIL ALEXANDER SUBSTATION S 50.00 X 187900 0 14075 2828401 293307 27 false true false TOWNSEND TREE SERVICE CO LLC PO BOX 7015 MUNCIE IN 47308 ROW SERVICES 1627540 C-PHASE SERVICES LLC PO BOX 3210 KINSTON NC 285023210 OH LINE CONST 534574 AMPIRICAL SOLUTIONS LLC 1654 OCHSNER BLVD COVINGTON LA 70433 ENG. CONSULTANT 327508 ITSAVVY LLC PO BOX 3296 GLEN ELLYN IL 60138 LICENSE SUPPORT 118571 4 X ELEC. SALES AND SERVICE 221000 112416591 112416591 CAPITAL CREDITS 221000 3163716 3163716 POLE RENTAL 221000 273110 273110 115853417 859359 833742 25617 415030 391788 23242 23242 23242 GAIN/LOSS ON SALE OF ASSETS 221000 14714 14714 SUBSIDIARY INCOME 221000 -50090 -50090 -35376 116700642 116428763 271879 6344554 6344554 1427086 1427086 6110773 6110773 949562 949562 2536859 2536859 495082 495082 7720120 7720120 10166342 10166342 PURCHASED POWER 70411349 70411349 DISTRIBUTION MAINTENANCE 4483896 4483896 CONSUMER ACCOUNTS 3832324 3832324 ADMIN. & GENERAL EXP. 3159424 3159424 -936729 -936729 116700642 116700642 0 0 861568 513258 400735 672760 13107715 14797208 2394479 2370340 7053904 8205181 916044 659466 375540112 100973213 259549937 274566899 31124120 33606887 3672 5489 315412174 335397488 14298285 14646390 182294389 196923005 3169007 4035538 199761681 215604933 X 115650493 119792555 115650493 119792555 315412174 335397488 X 0 4142062 X false true X true false 5141634 5141634 24955467 5618375 19337092 345443011 95354838 250088173 274566899 PATRONAGE CAPITAL NCEMC 24709588 C PATRONAGE CAPITAL TEMA 2867631 C PATRONAGE CAPITAL CFC 2676540 C OTHER INVESTMENTS 1332418 C NRUCFC CTC'S 699047 C PATRONAGE CAPITAL NRTC 556950 C PATRONAGE CAPITAL FEDERATED 429031 C PATRONAGE CAPITAL NISC 335682 C 33606887 UNCLAIMED CAPITAL CREDITS 1943761 CONSUMER DEPOSITS 1588402 OTHER DEFERRED CREDITS 500000 ACCRUED INTEREST PAYABLE 3375 4035538 116700642 116700642 116700642 110356088 110356088 6344554 6344554 116700642 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL CREDITS 6,344,554 X X X false true false JAMES E MANGUM JR CEO & GEN. MGR. 668778 129557 261787 49845 25608 1135575 15296 DON BOWMAN MANAGER OF OPERATION 328862 82785 14536 33603 34144 493930 CYNTHIA M CURRIN GENERAL COUNSEL 319956 57497 53636 30859 6759 468707 CHRISTOPHER D WRIGHT MGR OF ENGINEERING 176204 31684 9332 18296 31477 266993 KIRK METCALF VP OF MARKETING/COMM 165729 37190 11457 17157 31484 263017 CECIL ALEXANDER SUBSTATION SUPVR. 32684 155216 8534 5541 201975 SCHEDULE J, PAGE 1, PART I, LINE 4 JAMES E. MANGUM, JR. 0 15,296 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 2024, MANGNUM RECEIVED A DISTRIBUTION IN THE AMOUNT OF 15,296 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 6,344,554 MEMBERSHIP FEES 9,130 CAPITAL CREDIT RETIREMENTS -2,211,622 TOTAL 4,142,062 WAKE ELECTRIC CARE INC 228 PARK AVENUE YOUNGSVILLE NC 27596 561938901 CHARITY NC 3 N/A true TRIANGLE SERVICES GROUP INC PO BOX 1229 WAKE FOREST NC 27588 562136060 ENERGY SRV NC N/A 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 60481 COST TRIANGLE SERVICES GROUP INC P 1320 COST