2016-05-11T14:40:15-05:00 2015-12-31 861065772 DELOITTE TAX LLP 191 PEACHTREE StreeT NE SUITE 2000 ATLANTA GA 303031943 990 2015-01-01 560995910 NORTH CAROLINA ELECTRIC MEMBERSHIP CORPORATION NORT 9198720800 3400 SUMNER BOULEVARD RALEIGH NC 27616 RICHARD M FEATHERS ASSOCIATE GENERAL COUNSEL 9198720800 2016-05-10 1 BRIAN GAREAU P00847877 4042202000 2015 2016-09-27 15:27:22Z RICHARD M FEATHERS 3400 SUMNER BOULEVARD RALEIGH NC 27616 1215776415 0 X WWW.NCEMC.COM X 1949 NC SALE OF ELECTRIC POWER TO NC DISTRIBUTION COOPERATIVES. 50 49 175 0 32500 -752372 0 0 1117221849 1089769992 16001196 20363053 32500 32500 1133255545 1110165545 0 0 0 0 34459895 37579011 0 0 0 1081353350 1050785317 1115813245 1088364328 17442300 21801217 1766155702 1882040693 1596864626 1704930343 169291076 177110350 sale of electric power to NC distribution cooperatives. 0 0 NORTH CAROLINA ELECTRIC MEMBERSHIP CORPORATION PROVIDES WHOLESALE ELECTRIC GENERATION AND TRANSMISSION SERVICES TO 25 MEMBER ELECTRIC DISTRIBUTION COOPERATIVES THAT PROVIDE ELECTRIC SERVICE TO OVER 950,000 HOMES, FARMS, AND BUSINESSES IN NORTH CAROLINA. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 1 60 0 1 175 1 1 1 0 0 0 0 961515996 118572903 0 X 50 49 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AR AZ GA CA IN NC MD MN MS X LARK S JAMES 9198720800 3400 SUMNER BOULEVARD RALEIGH NC 27616 Mitchell L Keel DIRECTOR 2.00 2.00 X 0 0 0 Mark A Suggs PRESIDENT 4.00 2.00 X 0 0 0 DALE F LAMBERT VICE PRESIDENT 4.00 2.00 X 0 0 0 Gary W Ray DIRECTOR 2.00 2.00 X 0 0 0 Susan E Flythe DIRECTOR 2.00 2.00 X 0 0 0 Richard A Midgett DIRECTOR 2.00 2.00 X 0 0 0 Craig A Conrad DIRECTOR 2.00 2.00 X 0 0 0 Morris McClelion DIRECTOR 2.00 2.00 X 0 0 0 Rebecca P Cogan DIRECTOR 2.00 0.00 X 0 0 0 Millie Lilley DIRECTOR 2.00 2.00 X 0 0 0 S Franklin Williams DIRECTOR 2.00 0.00 X 0 0 0 Charles H Guerry dIRECTOR 2.00 2.00 X 0 0 0 John L Pierce DIRECTOR 2.00 2.00 X 0 0 0 STEVEN C HUNT DIRECTOR 2.00 2.00 X 0 0 0 Richard H Johnson DIRECTOR 2.00 2.00 X 0 0 0 Jeffrey N Letchworth DIRECTOR 2.00 0.00 X 0 0 0 Donald H Spivey DIRECTOR 2.00 2.00 X 0 0 0 Bobby D Wright DIRECTOR 2.00 0.00 X 0 0 0 Curtis Wynn DIRECTOR 2.00 2.00 X 0 0 0 Allen W Speller DIRECTOR 2.00 2.00 X 0 0 0 Kelly Harrington DIRECTOR 2.00 2.00 X 0 0 0 W Greg Puckett DIRECTOR 2.00 2.00 X 0 0 0 LV Toby Speaks DIRECTOR 2.00 2.00 X 0 0 0 Paul Spruill Secretary/Treasurer 4.00 2.00 X 0 0 0 J Douglas Brinson DIRECTOR 2.00 2.00 X 0 0 0 J Michael Davis DIRECTOR 2.00 2.00 X 0 0 0 Carl W Kornegay Jr DIRECTOR 2.00 2.00 X 0 0 0 BL Starnes DIRECTOR 2.00 2.00 X 0 0 0 James E Mangum Jr DIRECTOR 2.00 2.00 X 0 0 0 DON HUGHES DIRECTOR 2.00 2.00 X 0 0 0 THOM STYRON DIRECTOR 2.00 0.00 X 0 0 0 WINSTON HOWELL dIRECTOR 2.00 2.00 X 0 0 0 MADIE R LOCKLEAR DIRECTOR 2.00 0.00 X 0 0 0 CHRISTOPHER SPEARS DIRECTOR 2.00 2.00 X 0 0 0 GREG ANDRESS DIRECTOR 2.00 2.00 X 0 0 0 John W Spence DIRECTOR 2.00 2.00 X 0 0 0 John D Ward DIRECTOR 2.00 0.00 X 0 0 0 Morrell Jones Jr DIRECTOR 2.00 2.00 X 0 0 0 Jeff Clark DIRECTOR 2.00 2.00 X 0 0 0 Suzy Morgan DIRECTOR 2.00 2.00 X 0 0 0 Joseph P Brannan Executive VP & CEO 34.00 6.00 X 801035 0 199373 Robert B Schwentker Senior VP & COO, GREENCO 34.00 6.00 X 364108 0 96758 Lark S James Senior VP, Finance & CFO 34.00 6.00 X 310315 0 93968 Richard M Feathers Associate General Counsel 34.00 6.00 X 237226 0 78814 Michael W Burnette Senior VP & COO 40.00 0.00 X 326834 0 89861 Robert H Goodson Senior VP & COO, NCAEC 4.00 36.00 X 327782 0 103043 David L Beam Senior VP, CORPORATE STRATEGY 20.00 20.00 X 289068 0 68631 Nelle P Hotchkiss Senior VP, CORPORATE RELATIONS 10.00 30.00 X 270035 0 79058 Lonnie Moore Senior VP & COO, TEMA 2.00 38.00 X 263890 0 57142 STEPHEN B BURROUGHS VP OF FINANCE 34.00 6.00 X 219644 0 67586 3409937 0 934234 84 0 1 0 ACES Power Marketing 4140 west 99th street carmel IN 460327731 Power Management Services 3383532 McCarter & English LLP 100 Mulberry Street Newark NJ 071020652 Legal Services 670951 Pro Energy Services LLC PO Box 975602 DALLAS TX 753975602 Energy Operations & Maintenance Services 554125 JORDAN TRANSFORMER LLC 1000 SYNDICATE STREET JORDAN MN 55352 POWER TRANSFORMER SERVICES 364538 Andiaz Group LLC 4705 Andrews Link Street ChARLOTTE NC 282775529 Information Technology Services 290500 11 PROVIDE ELECTRIC POWER 1089769992 1089769992 1089769992 9500629 9500629 32500 0 32500 32500 32500 116441867 31427 105595759 15111 10846108 16316 10862424 10862424 1110165545 1089769992 32500 20363053 4344171 29523083 3569094 119918 22745 1256691 91108 127582 604131 434621 59842848 53113597 81283 purchased power 674225506 Power Generation Expens 84458479 MAINTENANCE AND RENTAL 59424208 Transmission & Ancillar 59335179 57790084 1088364328 214121428 243020755 87975834 80966114 1049 2250022 2231708 5444892 4661120 1203107 2502574 2361110512 1248504509 1095071137 1112606003 255464681 254699518 7620684 8099596 97002868 173253305 1766155702 1882040693 107365137 180977660 1245719390 1264094311 243780099 259858372 1596864626 1704930343 X 625 625 0 0 169290451 177109725 169291076 177110350 1766155702 1882040693 X 21801217 -15336843 1354900 X 0 1 X 1 0 204173 204173 8037069 6575942 1461127 1107611 172667 934944 17223481 13770320 3453161 2334538178 1227985580 1106552598 1112606003 CONSTRUCTION WORK IN PROCESS 100752268 DEFERRED DECOMMISSIONING COSTS 7876135 OTHER DEFERRED COSTS 54701516 DEFERRED DEBT COSTS 3290496 LOSS ON REFINANCING 6632890 173253305 DECOMMISSIONING ASSET RETIREMENT OBLIGATION 235436185 postretirement/Post employment Benefits Obligation 14464800 Regulatory Liabilities 5123506 CAPITAL LEASE OBLIGATIONS 4833881 259858372 1110165545 0 1110165545 0 1110165545 1088364328 0 1088364328 0 1088364328 X X 0 0 0 Joseph P Brannan Executive VP & CEO 801035 0 0 0 0 0 180166 0 19207 0 1000408 0 0 0 Robert B Schwentker Senior VP & COO, GREENCO 364108 0 0 0 0 0 83175 0 13583 0 460866 0 0 0 Lark S James Senior VP, Finance & CFO 310315 0 0 0 0 0 76269 0 17699 0 404283 0 0 0 Richard M Feathers Associate General Counsel 237226 0 0 0 0 0 61654 0 17160 0 316040 0 0 0 Michael W Burnette Senior VP & COO 326834 0 0 0 0 0 76495 0 13366 0 416695 0 0 0 Robert H Goodson Senior VP & COO, NCAEC 327782 0 0 0 0 0 78909 0 24134 0 430825 0 0 0 David L Beam Senior VP, CORPORATE STRATEGY 289068 0 0 0 0 0 63037 0 5594 0 357699 0 0 0 Nelle P Hotchkiss Senior VP, CORPORATE RELATIONS 270035 0 0 0 0 0 66144 0 12914 0 349093 0 0 0 Lonnie Moore Senior VP & COO, TEMA 263890 0 0 0 0 0 44310 0 12832 0 321032 0 0 0 STEPHEN B BURROUGHS VP OF FINANCE 219644 0 0 0 0 0 55159 0 12427 0 287230 0 0 0 PAUL FLYTHE EMPLOYEE 171748 SEE SCH O 0 Schedule L, Part V: The individuals who serve as the Board of Directors of the Entity are also Directors, Officers or Key Employees of NCEMC's member cooperatives and may be directors of related entities. NCEMC does not provide any compensation to its directors. In addition NCEMC does not directly compensate nor has it undertaken any single transaction in excess of $10,000 or a series of transactions in excess of $100,000 to any interested person, including current and former officers, directors and family members of current and former officers, directors or key employees. Form 990, Part VI, Section A, line 6 The Company is a member-owned generation and transmission electric cooperative owned by 25 North Carolina electric cooperatives. Form 990, Part VI, Section A, line 7a THE COMPANY'S BOARD OF DIRECTORS IS COMPRISED OF 50 DIRECTORS REPRESENTING THE GENERAL MANAGER OR CHIEF EXECUTIVE OFFICER FROM EACH OF THE 25 MEMBERS AND 25 DIRECTORS SELECTED FROM THE BOARD OF DIRECTORS FROM EACH OF THE 25 MEMBERS. THE BOARD OF DIRECTORS ELECTS THE OFFICERS OF THE BOARD OF DIRECTORS. Form 990, Part VI, Section A, line 7b Decisions by the board of directors are subject to the approval of a majority of the board members. Form 990, Part VI, Section B, line 11 The 2015 Form 990 was discussed at the Company's Board of Directors' Meeting in April, 2016 and the form is available upon request. Form 990, Part VI, Section B, line 12c THE COMPANY HAS A CONFLICT OF INTEREST POLICY IN PLACE FOR ALL STAFF AND MEMBERS OF THE BOARD OF DIRECTORS IN 2015. DIRECTORS, OFFICERS AND SENIOR MANAGEMENT ARE REQUIRED TO ANNUALLY DISCLOSE, VIA A WRITTEN QUESTIONNAIRE, ANY CONFLICTS OF INTEREST. Form 990, Part VI, Section B, line 15 Compensation of the Company's CEO is reviewed annually by the Executive Committee. The Executive Committee recommends a compensation amount to the full Board of Directors. The full Board of Directors votes on the compensation. Compensation for other officers and key employees is determined through annual performance reviews and periodic industry evaluations. Compensation is based on both qualitative and quantitative factors. Form 990, Part VI, Section C, line 19 NCEMc's GOVERNING DOCUMENTS ARE AVAILABLE ON THE NORTH CAROLINA SECRETARY OF STATE'S WEBSITE. ALL OTHER INFORMATION IS AVAILABLE UPON REQUEST. Form 990, Part XI, line 9: POST RETIREMENT BENEFIT ADJUSTMENT 1,354,900. FORM 990, SCH L, PART IV, COLUMN D, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: PAUL FLYTHE, AN EMPLOYEE OF THE COMPANY, IS THE SPOUSE OF A CURRENT DIRECTOR. north carolina association of electric cooperatives inc 3400 SUMNER BOULEVARD RALEIGH NC 27616 561189186 member services NC 501(c)(6) n/a no 0 human connections foundation inc 3400 SUMNER BOULEVARD RALEIGH NC 27616 651261123 distributes relief funds NC 501(c)(3) no no 0 the tarheel electric membership association inc 3400 SUMNER BOULEVARD RALEIGH NC 27616 560575465 material and equipment sales NC N/A C 0 greenco solutions inc 3400 SUMNER BOULEVARD RALEIGH NC 27616 262434254 renewable energy activities NC N/A C 0 NCEMC Solar One LLC 3400 SUMNER BOULEVARD RALEIGH NC 27616 471520849 Solar Energy Activity NC NCEMC C 1000 1000 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0