2017-11-13T12:55:33-08:00 2016-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2016-01-01 560123345 PEE DEE ELECTRIC MEMBERSHIP CORPORATION PEED 7046942114 575 US HIGHWAY 52 SOUTH WADESBORO NC 28170 DONALD H SPIVEY CEO & EXEC. VP 2017-11-13 true G STEVEN GILLIAM CPA P00348264 8043231313 2016 2017-02-10 21:41:12Z Donald H Spivey 575 US HIGHWAY 52 SOUTH Wadesboro NC 28170 47136071 false false X www.pdemc.com X 1939 NC Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of PDEMC 10 10 68 106 -29 100357 100866 44198705 44328627 452401 251752 2210265 2454826 46961728 47136071 140437 122599 4467331 4849667 6160996 6826502 0 0 36393355 35759131 47162119 47557899 -200391 -421828 103870059 112743622 54077200 57293304 49792859 55450318 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 $ 26,880,536Benefits paid to or for members $ 4,869,227Other Salaries and Wages $ 4,626,746 false false false false false false false false false false true false true true 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 false false false false false false false true 29 0 true 68 true false false false false false true false false false false 46429961 505871 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 NC X THE CORPORATION 7046942114 575 HWY 52 South WADESBORO NC 28170 RICHARD JOHNSON President 8.00 0.00 X X 12325 0 0 DONALD A THOMPSON Vice President 5.00 0.00 X X 7887 0 0 MILLARD E RUSSELL Sec. / Treas. 3.00 0.00 X X 7355 0 0 WINNIE M BENNETT Director 3.00 0.00 X 4973 0 0 ROBERT C DAVIS jr Director 1.00 0.00 X 2803 0 0 Benjamin Lybrand Director 4.00 0.00 X 5535 0 0 MARCIA A LAMBETH Director 4.00 0.00 X 6358 0 0 BENJAMIN MCCALLUM JR Director 5.00 0.00 X 6968 0 0 RICHARD V MELTON Director 5.00 0.00 X 7733 0 0 CRAIG RATLIFF Director 1.00 0.00 X 2755 0 0 Donald H Spivey President & CEO 40.00 0.00 X 197884 0 86435 Phillip Mabry CFO 40.00 0.00 X 110337 0 45837 John M Rhyne Dir of Eng. & Oper 40.00 0.00 X 128025 0 40448 500938 172720 3 false true false Asplundh Tree Expert 708 Blair Mill Road Willow Grove PA 19090 RIGHT OF WAY 1270046 Lee Electrical Construction 12828 US-501 Aberdeen NC 28315 Construct Contractor 425709 Bufords Tree 4230 Choctaw Trail Anniston AL 36207 Right of Way 311963 Southeastern Data Coop Inc 100 Ashford Center North Atlanta GA 30338 Comp. Software Supp. 386581 Pike Electric LLC 100 Pike Way Mt Airy NC 27030 Construct Contractor 402931 10 X 100866 100866 CONTRIB. IN AID OF CONST. 221000 69463 69463 PATRONAGE ALLOC. RECEIVED 221000 114626 114626 SALE AND DIST. OF ELECT. 221000 44144538 44144538 44328627 194204 194204 0 0 200239 200239 200239 200239 57548 57548 57548 57548 0 0 0 Earnings from Eq. Inv. 221000 2253896 2253896 Other 221000 585 585 Sale of materials 106 106 2254587 47136071 46583108 106 451991 X 122599 0 0 4849667 505185 0 4626746 833688 466085 394798 0 19513 0 0 0 0 0 0 0 0 0 0 860984 0 255654 1805947 0 4076065 0 Cost of power 26880536 DISTRIBUTION MAINTENANCE 2315392 ADMIN. & GENERAL 1769368 DISTRIBUTION OPERATION 627457 -2851785 47557899 0 0 0 -57108 25656 1891334 1587331 0 2616472 7684987 0 0 0 1486028 1502514 3156407 2716144 120035988 35831851 81410511 84204137 0 0 6780480 7589260 0 6585935 7433593 103870059 112743622 2964434 3604013 41426032 42992679 9686734 10696612 54077200 57293304 X 49792859 55450318 49792859 55450318 103870059 112743622 X -421828 6079287 X false true X true true true 809122 809122 119226866 35831851 83395015 84204137 7589260 7433593 APBO 6075939 CONSUMER DEPOSITS 720906 Deferred Credits 2893958 OTHER CURRENT LIABILITIES 1005809 10696612 X 47144989 78381 78381 47066608 69463 69463 47136071 42566073 42566073 4991826 4991826 47557899 Part X : FIN48 Footnote The Corporation follows the guidance for "uncertain tax positions" in accordance with accounting principles 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. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 Adj. for cash pat. rec. $789340 Book tax differnce sandhills utility ser $-610093 Care to Share Reclass $-100866 Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S CIAC $69463 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Pat. Div. paid to members $4869227 Care to Share Activity $122599 false East Rockingham Fire Dept 487 Airport Rd Rockingham NC 28379 561120480 7500 0 FMV Purchase of equipment Ellerbe Fire Dept 116 Page St Ellerbe NC 28338 566001219 7500 0 FMV Purchase of equipment Gulledge Fire Dept 34 Chewning Rd Wadesboro NC 28170 561382294 7500 0 FMV Purchase of equipment Hoffman Fire Dept 3373 US-1 Hoffman NC 28347 561632477 7500 0 FMV Purchase of equipment Laurel Hill Fire Dept 9400 Old Wire Rd Laurel Hill NC 28351 581319210 7500 0 FMV Purchase of equipment Lilesville Fire Dept 202 West Wall Street Lilesville NC 28091 566001267 7500 0 FMV Purchase of equipment Mountain Creek Fire Dept 248 Godfrey Rd Ellerbe NC 28338 561404201 7500 0 FMV Purchase of equipment New Salem VFD 6711 New Salem Rd Marshville NC 28103 561396058 7500 0 FMV Purchase of equipment Richmond Co Rescue Squad 1004 Rockingham Rd Rockingham NC 28379 237441293 7500 0 FMV Purchase of equipment Wadesboro Fire Dept 111 N Washington St Wadesboro NC 28170 566001358 7500 0 FMV Purchase of equipment 10 0 X X X X X false false false Donald H Spivey President & CEO 197884 75965 10470 284319 John M Rhyne Dir of Eng. & Oper 128025 34305 6143 168473 Phillip Mabry CFO 110337 38347 7490 156174 Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder 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, Part VI, Line 7a: How Members or Shareholders Elect Governing Body All members of Pee Dee EMC receive one vote with respect to selecting the governing board of directors. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders certain decisions of the governing body are subject to approval by the members as provided for in the cooperative bylaws. Form 990, Part VI, Line 11b: Form 990 Review Process The CEO provides a copy of the 990 to the finance committee and governing body prior to filing with the IRS. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Each director, officer and key employee must annually complete and sign a conflict of interest form. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management 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 changes for other officers and key employees to the compensation committee for approval based on the recommendation of an outside salary consultant. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees 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, Part VI, Line 19: Other Organization Documents Publicly Available 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. Other Changes In Net Assets Or Fund Balances - Other Increases Accumlate affect of change in acct principle = $1807000 Other Changes In Net Assets Or Fund Balances - Other Decreases Book tax difference sandhills utility services = -$590533 Other Changes In Net Assets Or Fund Balances - Other Increases Care to share activity = $21733 Other Changes In Net Assets Or Fund Balances - Other Decreases contributions in aid of construction not revenue per gaap = -$69463 Other Changes In Net Assets Or Fund Balances - Other Decreases Net Retirement of Capital Credits = -$934284 Other Changes In Net Assets Or Fund Balances - Other Increases Noncash patronage allocations not revenue per irs = $789340 Other Changes In Net Assets Or Fund Balances - Other Increases OCI adjustment = $205827 Other Changes In Net Assets Or Fund Balances - Other Increases Patronage Div. paid to members' accts not expense per gaap = $4849667 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.