2014-11-11T16:42:12-08:00 2013-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2013-01-01 560123345 PEE DEE ELECTRIC MEMBERSHIP CORPORATION PEED 7046942114 575 US HIGHWAY 52 SOUTH WADESBORO NC 28170 DONALD H SPIVEY CEO & EXEC. VP 2014-11-11 true G STEVEN GILLIAM CPA P00348264 8043231313 2013 2015-11-30 17:44:51Z Donald H Spivey 575 US HIGHWAY 52 SOUTH Wadesboro NC 28170 47806188 false false X www.pdemc.com X 1939 NC Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of PDEMC 10 10 70 930 93894 95026 41113758 41671474 302208 394194 3737033 5645494 45246893 47806188 70246 63283 3961179 6163166 5721889 5799592 0 0 34326605 35383265 44079919 47409306 1166974 396882 91352084 97283117 53082813 53451422 38269271 43831695 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 larges program services, as measured by expenses were as follows:Cost of Power $ 26,156,894Benefits paid to or for members $ 6,163,166Salaries and Wages $ 3,886,656 false false false false false false false false false false true false true true true false false false false false false false false false false false false false false true false false false false false false true false false false false false false false false false false false false false false true 33 0 true 70 true false false false false false true false false false false 46647579 1045980 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 X THE CORPORATION 7046942114 575 HWY 52 South WADESBORO NC 28170 RICHARD JOHNSON President 8.00 0.00 X X 11119 0 0 DONALD A THOMPSON Vice President 4.00 0.00 X X 6661 0 0 MILLARD E RUSSELL Sec. / Treas. 4.00 0.00 X X 7419 0 0 WINNIE M BENNETT Director 3.00 0.00 X 4260 0 0 ROBERT C DAVIS jr Director 1.00 0.00 X 2586 0 0 Benjamin Lybrand Director 4.00 0.00 X 5185 0 0 MARCIA A LAMBETH Director 3.00 0.00 X 4815 0 0 BENJAMIN MCCALLUM JR Director 6.00 0.00 X 7035 0 0 RICHARD V MELTON Director 5.00 0.00 X 6665 0 0 CRAIG RATLIFF Director 1.00 0.00 X 2780 0 0 Donald H Spivey President & CEO 40.00 0.00 X 174071 0 103874 Phillip Mabry CFO 40.00 0.00 X 94127 0 43152 John M Rhyne Dir of Eng. & Oper 40.00 0.00 X 113020 0 40176 439743 187202 2 false true false Asplundh Tree Expert 708 Blair Mill Road Willow Grove PA 19090 RIGHT OF WAY 592282 Booth & Associates Inc 5811 Glenwood Ave Raleigh NC 27612 Engineering Services 198673 Bufords Tree 4230 Choctaw Trail Anniston AL 36207 Right of Way 240812 Southeastern Data Coop Inc 100 Ashford Center North Atlanta GA 30338 Comp. Software Supp. 322775 Pike Electric 100 Pike Way Mount Airy NC 27030 Utility Construction 188906 6 95026 95026 SALE AND DIST. OF ELECT. 221000 41671474 41671474 41671474 367257 367257 0 0 197603 197603 197603 197603 26937 26937 26937 26937 0 0 0 CONTRIB. IN AID OF CONST. 221000 510438 510438 Earnings from Eq. Inv. 221000 4831584 4831584 PATRONAGE ALLOC. RECEIVED 221000 104477 104477 1392 462 930 5447891 47806188 47118435 930 591797 X 63283 0 0 6163166 473749 0 3886656 701086 405713 332388 0 23051 0 0 0 0 0 0 0 0 0 0 873898 0 310928 2052936 0 3374328 0 Cost of power 26156894 DISTRIBUTION MAINTENANCE 1646027 ADMIN. & GENERAL 1424326 TAXES 1364528 -1843651 47409306 0 0 0 14279 14900 3994119 4424064 0 2830208 3184786 0 0 375000 0 1242123 1469016 1786533 3647499 104828760 30977604 72220271 73851156 0 0 4815451 5400840 0 4074100 5290856 91352084 97283117 3239374 3962779 40205373 39614226 9638066 9874417 53082813 53451422 X 38269271 43831695 38269271 43831695 91352084 97283117 X 396882 5165542 X false true X true false 346723 346723 104482037 30977604 73504433 73851156 5400840 5290856 APBO 4293491 CONSUMER DEPOSITS 905918 Deferred Credits 3765354 OTHER CURRENT LIABILITIES 909654 9874417 46962260 -333490 -333490 47295750 510438 510438 47806188 41182857 41182857 6226449 6226449 47409306 Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S CIAC $510438 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Pat. Div. paid to members $6163166 Care to Share Activity $63283 X X X X X false false false Donald H Spivey President & CEO 174071 83181 20693 277945 John M Rhyne Dir of Eng. & Oper 113020 34096 6080 153196 Mark Rhyne Employee Computer X 2500 2465 false false true 2465 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 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 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 Decreases Book tax difference sandhills utility services = -$814828 Other Changes In Net Assets Or Fund Balances - Other Decreases Care to Share Activity = -$31743 Other Changes In Net Assets Or Fund Balances - Other Decreases contributions in aid of construction = -$510438 Other Changes In Net Assets Or Fund Balances - Other Decreases Net Retirement of Capital Credits = -$868605 Other Changes In Net Assets Or Fund Balances - Other Increases noncash patronge allocations not revenue per irs = $576364 Other Changes In Net Assets Or Fund Balances - Other Decreases OCI adjustment = -$0 Other Changes In Net Assets Or Fund Balances - Other Increases OCI Adjustment = $651626 Other Changes In Net Assets Or Fund Balances - Other Increases Patronage Div. paid to members' accts not expense per gaap = $6163166 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 includes 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.