2022-09-22T12:22:52-07:00 2021-12-31 990 2021-01-01 540299805 MECKLENBURG ELECTRIC COOPERATIVE MECK 4343726100 PO BOX 2451 CHASE CITY VA 23924 John C Lee Jr President and CEO 4343726200 2022-08-31 1 11 0 AAL2 2021 2022-09-23 18:48:47Z JOHN C LEE JR 11633 HIGHWAY INETY-TWO CHASE CITY VA 23924 70294200 0 X WWW.MECKELEC.ORG X 1938 VA PROVIDE SAFE AND EFFECTIVE DISTRIBTUION OF ELECTRICITY TO THE MEMBERS OF MECKLENBURG ELECTRIC COOPERATIVE 9 9 109 0 0 0 0 0 66962297 69140769 283161 286876 574063 866555 67819521 70294200 5000 5000 1608424 2995450 6194460 6931782 0 0 0 58175608 56601251 65983492 66533483 1836029 3760717 207702763 225505928 127520259 139484926 80182504 86021002 TO PROVIDE SERVICES AND CREATE OPPORTUNITIES TO ENHANCE THE QUAILITY OF LIFE 0 0 64738367 Sale of electricity to our members 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 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 1 0 0 1 52 0 1 109 1 0 0 0 0 0 67554333 4432422 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 X Mecklenburg Electric Cooperative 4343726100 PO BOX 2451 CHASE CITY VA 23924 John C Lee Jr President and CEO 50 0 X 943905 0 352663 James P Guy II Legal Counsel 55 X 215600 0 71254 Benjamin J Seamans VP Engineering & Operations 50 0 X 162579 0 106176 Dwayne Long VP Information Technology 60 0 X 164321 0 56973 David H Lipscomb VP Member and Energy Services 47 0 X 168309 0 21277 Carol B Jones VP Finance and Accounting 50 0 X 151726 0 22614 Robert H Lankford Director of Operations 50 0 X 138402 0 15261 Carolyn T Glass Assistant Secretary 40 0 X 76990 0 55945 Franklin B Myers Vice-Chairman 6.00 0 X X 17657 0 0 David J Jones Chairman 16.53 0 X X 16582 0 0 Brandon G Hudson Director 3.03 0 X 15832 0 0 Peggy Lee Director 4.53 0 X 13982 0 1850 Angela B Wilson Director 4.36 0 X 13382 0 2450 Fletcher B Jones Director 6.71 0 X 11795 0 3863 Donald L Moore Treasurer- Secretary 4.17 0 X X 11620 0 3863 Michael H McDowell Director 4.45 0 X 14782 0 0 David C Hall Director 4.61 0 X 14432 0 0 2151896 0 714189 26 0 1 0 Aubrey Silvey Enterprises Inc PO Box 890093 Charlotte NC 28289 Electrical Distribution 3493729 Asplundh Tree Expert Co Inc 1700 Solutions Center Chicago IL 60677 Right of Way Maintenance 2489018 Davis H Elliott Inc PO Box 37251 Baltimore MD 21297 System Improvements & FTTH 2219809 River City Construction Inc PO Box 1420 Washington NC 27889 System Improvements & FTTH 2689080 Better Cable Systems Inc PO Box 1117 Roxboro NC 27573 System Improvements & FTTH 2255484 16 0 SALE OF ELECTRICITY 221000 64738367 64738367 0 0 PATRONAGE CAPITAL OTHER 221000 58688 58688 0 0 CONTRIBUTIONS IN AID 221000 3355469 3355469 0 0 PATRONAGE CAPITAL CFC 221000 53594 53594 0 0 PATRONAGE CAPITAL ODEC 221000 934651 934651 0 0 0 0 0 0 69140769 128084 0 0 128084 0 0 0 0 0 0 0 0 0 860389 0 0 0 860389 860389 0 0 860389 0 158792 0 0 0 158792 158792 0 0 158792 6166 0 6166 6166 0 0 0 70294200 69146935 0 1147265 0 5000 0 2995450 1745933 0 3183433 1333202 0 669214 0 45765 43199 0 0 0 45366 0 196401 0 0 0 37442 0 177098 3998691 0 6426776 0 COST OF POWER 37795209 DISTRIBUTION - OPERATIONS 2026554 DISTRIBUTION - MAINTENANCE 4535767 ADMINISTRATION - GENERAL & CONSUMER ACCTS 1272983 66533483 0 0 0 2510 2510 5544535 7384607 0 0 8640586 9270414 0 0 0 0 104260 978441 2623954 3930639 8830416 10682099 224014451 70330765 143067187 153683686 0 0 0 0 37769674 38453891 1119641 1119641 0 0 207702763 225505928 13259996 16834840 0 0 0 0 0 0 0 0 0 0 114145360 121174768 0 0 114903 1475318 127520259 139484926 X 0 0 0 0 80182504 86021002 80182504 86021002 207702763 225505928 X 3760717 0 0 0 0 2077781 X 0 1 X 1 0 1764309 0 1764309 5478101 0 2757421 2720680 0 0 0 0 216392744 0 67573301 148819443 379297 0 43 379254 153683686 INVESTMENTS IN ASSOCIATED ORGANIZATIONS - OLD DOMINION ELECTRIC COOPERATIVE 28840581 C INVESTMENTS IN CAPITAL TERM CERTIFICATES - NATIONAL RURAL UTILITIES COOPERATIVE 1380135 C OTHER INVESTMENTS - RURAL ECONOMIC DEVELOPMENT LOANS 457082 C INVESTMENTS IN ASSOCIATED ORGANIZATIONS 2256184 C INVESTMENTS IN SUBSIDARY ORGANIZATIONS 5519909 C 38453891 0 DEFERRED FUEL CREDITS 1475318 1475318 69160095 3268295 0 0 0 3268295 65891800 0 4402400 4402400 70294200 63538035 0 0 0 0 0 63538035 0 2995448 2995448 66533483 Schedule D, Part XI, Line 4b Contributions in aid of construction - $3,355,469 and cash received from patronage capital - $1,046,934 Schedule D, Part XII, Line 4b Benefits paid to members (Capital credit allocations for the year 2021) - $2,995,448 0 0 0 John C Lee Jr President and CEO 458823 0 0 0 35194 0 788835 0 13716 0 1296568 0 0 0 Benjamin J Seamans VP Engineering & Operations 168080 0 0 0 -5500 0 86633 0 19542 0 268755 0 0 0 Dwayne Long VP Information Technology 164570 0 0 0 -248 0 37430 0 19542 0 221294 0 0 0 David H Lipscomb VP Member and Energy Services 165735 0 0 0 2574 0 3235 0 18042 0 189586 0 0 0 James P Guy II Legal Counsel 221978 0 0 0 -6378 0 52162 0 19092 0 286854 0 0 0 Carol B Jones VP Finance and Accounting 158588 0 0 0 -6862 0 3072 0 19542 0 174340 0 0 0 Form 990, Part VI, Section A, Line 2 All Mecklenburg Electric Cooperative Directors also serve on the board of the taxable entity Empower Broadband, Inc. All Mecklenburg Electric Cooperative Officers are also officers of Empower Broadband. Consequently, each Mecklenburg Electric Director and Officer is in a 'business relationship" with every other Mecklenburg Electric Cooperative Director and Officer. One Mecklenburg Electric Cooperative Director, David Jones, and two Mecklenburg Electric Officers, John C. Lee, Jr. and Carol B Jones, serve on the board of and as the officers of the taxable entity Empower Telecom, Inc. Consequently, these three individuals are in a " business relationship" with each other with respect to Empower Telecom. Form 990, Part VI, Section A, Line 6 Mecklenburg Electric Cooperative is an electric membership cooperative that delivers electricity to its members. Form 990, Part VI, Section A, Line 7a Directors are elected by the membership of the Cooperative Form 990, Part VI, Section A, Line 7b Members contribute equally to and democratically control the capital of the Cooperative Form 990, Part VI, Section B, Line 11b Form 990 is given to each director for their review before filing. Form 990 is emailed directly to each director prior to the filing. If they have any questions or revisions, they are directed to contact John C Lee, Jr., President and CEO, or Carol B Jones, Vice President of Finance and Accounting prior to August 31, 2022. Form 990, Part VI, Section B, Line 12c Officers, directors, and key employees annually disclose conflicts of interest. When issues arise that could create a conflict of interest, the officer, director or key employees will exclude themselves from the potential conflict. Form 990, Part VI, Section B, Line 15 Process of determining compensation for CEO - Annually, the directors review and approve the CEO's compensation. The directors use comparability data which consists of multiple state, national and regional CEO's compensation in the utility industry to determine the market value of the position. Process of determining compensation for officers and key employees - In 2012, a third party consultant conducted an independent survey of all positions to verify market pay. Also, each year Manager of Human Resources used comparability data which consists of a combination of multiple state, national and regional utility and non-utility surveys to determine the increase or decrease in market. The data is summarized and a proposal is submitted to the finance committee which consist of six directors, including the board chair who serve ex-offico. If the proposal is approved by the committee, it is submitted to the entire board for approval. Form 990, Part VI, Section C, Line 19 Disclosure of governing documents - Governing documents, policies, Form 990 and financial statements are always available upon request. The bylaws, rates, terms and conditions are available on the cooperative's website. Annually financial information is published in the member's monthly magazine, which is mailed to each member's residence. Also, the Treasurer's report is given to each member attending the annual meeting held in June of each year. In the Treasurer's report, it states that each member has the right to review the complete financial report upon request. Form 990, Part XI, Line 9 Other changes in net assets or fund balances consists of the following: Patronage Capital - Cash ($1,046,934) Patronage Allocations $1,145,657 Retirement of Capital Credits ($2,374,349) Allocated 2020 Capital Credits $2,995,450 EMPOWER Broadband Inc and EMPOWER Telecom $454,683 Change in Other Equity $2,590,787 Contributions in aid of Construction ($3,355,469) PPP Loan Forgiveness $1,667,955 Total $2,077,781 EMPOWER Broadband Inc PO Box 325 Chase City VA 23924 541917596 Internet Provider VA Mecklenburg Electric Cooperative C 1 0 Empower Telecom Inc PO Box 2451 Chase City VA 23924 844820612 Telecommunications VA Mecklenburg Electric Cooperative C 1 0 1 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 EMPOWER Broadband Inc a-i 269415 FULLY DISTRIBUTED COST EMPOWER Broadband Inc d 1048607 ACTUAL EMPOWER Broadband Inc j 129882 FULLY DISTRIBUTED COST EMPOWER Broadband Inc n 13273 FULLY DISTRIBUTED COST EMPOWER Broadband Inc o 565738 FULLY DISTRIBUTED COST EMPOWER Broadband Inc q 2636204 FULLY DISTRIBUTED COST AN EXTENSION OF TIME TO FILE WAS COMPLETED AND APPROVED