2012-11-13T13:54:01-08:00 2011-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2011-01-01 560123345 PEE DEE ELECTRIC MEMBERSHIP CORPORATION PEED 7046942114 575 US HIGHWAY 52 SOUTH WADESBORO NC 28170 DONALD H SPIVEY 2012-11-13 true G STEVEN GILLIAM CPA 8043231313 2011 2016-02-24 21:20:13Z DONALD H SPIVEY 43390885 false false X www.pdemc.com X 1939 NC Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of PDEMC 11 11 70 735 93319 92593 42791169 42137273 105619 78425 3240997 984502 46231104 43292793 73400 104950 3084979 5561208 5593824 0 0 35265911 35538697 40900519 44322450 5330585 -1029657 86153771 88609797 51905086 53296657 34248685 35313140 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 $ 26,873,765Salaries and Wages $ 3,716,073Depreciation $ 3,186,181 false false false false false false false false false false true false false false true false true false false false false false false false false false false true false true false false false false false false true false false false false false false false false false false false false false false true 30 0 true 70 true false false false false false false true false false false false 42935913 295256 false false false false X 11 11 false false false false true true true true true false false false true true true true true true true true false false NC X THE CORPORATION 7046942114 575 HWY 52 South WADESBORO NC 28170 CRAIG RATLIFF 3.00 X 4302 0 0 RICHARD V MELTON 5.00 X 6822 0 0 BENJAMIN MCCALLUM JR 5.00 X 6282 0 0 MARCIA A LAMBETH 4.00 X 5562 0 0 NEAL D HICKS JR 2.00 X 4859 0 0 Benjamin Lybrand 4.00 X 5382 0 0 ROBERT C DAVIS jr 2.00 X 3402 0 0 WINNIE M BENNETT 2.00 X 3582 0 0 MILLARD E RUSSELL 5.00 X X 8636 0 0 DONALD A THOMPSON 5.00 X X 6995 0 0 RICHARD JOHNSON 7.00 X X 12056 0 0 Phillip Mabry 40.00 X 89570 0 31094 Donald H Spivey 40.00 X 166832 0 82242 John M Rhyne 40.00 X 107188 0 27812 431470 141148 3 false true false Union Power Cooperative PO Box 5014 Monroe NC 28111 Dispatching Service 112426 Tritech Direct PO Box 13531 Resarch Triangle Par NC 27709 Computer services 218688 Southeastern Data Coop Inc 100 Ashford Center North Atlanta GA 30338 Comp. Software Supp. 332321 Naturchem Inc PO Box 63335 Charlotte NC 28263 Right of Way 154068 Asplundh Tree Expert 708 Blair Mill Road Willow Grove PA 19090 RIGHT OF WAY 618769 6 92593 92593 SALE AND DIST. OF ELECT. 221000 42137273 42137273 42137273 145601 145601 0 0 183654 183654 183654 183654 30916 98092 -67176 -67176 -67176 0 0 0 PATRONAGE ALLOC. RECEIVED 221000 53277 53277 Earnings from Eq. Inv. 221000 682109 682109 CONTRIB. IN AID OF CONST. 221000 40462 40462 25000 24265 735 800848 43292793 42937386 735 262079 104950 0 0 3084979 437618 0 3716073 816560 305775 317798 0 52283 0 0 0 0 0 0 0 0 0 0 0 0 0 2014130 0 3186181 0 TAXES 1437753 DISTRIBUTION OPERATION 724344 DISTRIBUTION MAINTENANCE 1508371 Cost of power 26873765 ADMIN. & GENERAL 1506910 -1765040 44322450 0 0 0 17780 95330 3328878 3454873 0 3120429 3053495 0 0 500000 500000 1202851 1209475 1270252 2008069 97606747 26638420 70221508 70968327 0 0 3612454 4215306 0 2879619 3104922 86153771 88609797 3619687 3659196 41845035 41187481 6440364 8449980 51905086 53296657 X 34248685 35313140 34248685 35313140 86153771 88609797 X -1029657 2094112 X false true true X false false 346723 346723 97260024 26638420 70621604 70968327 OTHER 108946 C CAPITAL TERM CERTIFICATES 779810 C PATRONAGE CAPITAL CERTIFICATES 3320050 C MEMBERSHIP FEES 6500 C Power bill long term 242645 OTHER CURRENT LIABILITIES 773030 INSURANCE RESERVE 10757 Deferred Credits 2528134 CONSUMER DEPOSITS 1025810 APBO 3869604 8449980 43292793 44322450 -1029657 4194123 4194123 3164466 44296987 1149606 1149606 43147381 145412 145412 43292793 41132521 41132521 3189929 3189929 44322450 Part XIII, Line 4b Part XIII, Line 4b: Other revenue amounts included on 990 but not included in F/S Pat. Div. paid to members $3084979 Care to Share Activity $104950 Part XII, Line 4b Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S CIAC $40462 Book tax differnce sandhills $0 Care to share reclass $104950 Part XII, Line 2d Part XII, Line 2d: Other revenue amounts included in F/S but not included on form 990 Adj. for cash pat. rec. $594055 Book tax differnce sandhills utility ser $543194 Care to share reclass $12357 Part XI, Line 8 Part XI, Line 8: Other Changes in Net Assets or Fund Balances noncash patronage allocations not revenue per irs $594055 patronage div. paid to members' accts not expense per gaap $3084979 CARE TO SHARE ACTIVITY $12357 Book tax difference Sandhills Utility Services $543194 CONTRIBUTIONS IN AID OF CONSTRUCTION not revenue per gaap $ -40462 OCI adjustment $ -614223 Retirement of Capital Credits - net $ -1485788 X 0 0 X X X X X false false false Donald H Spivey 166832 62979 19263 249074 Phillip Mabry Purchase Computer X 2000 318 false true true 318 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. The total patronage dividends paid to members' accounts during 2010 was $4,135,236. Form 990, Part VI, Line 19 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. Form 990, Part VI, Line 15b 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 12c 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 11 Form 990, Part VI, Line 11: 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 7b 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 7a 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 6 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.