SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION: Form 990, tax year 2025
View the entire original 990 at ProPublica ↗
- Organization
- SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION (EIN 56-0405464)
- Tax period
- 2025-01-01 to 2025-12-31
- Filed
- 2026-05-07
- IRS object ID
- 202621279349302157
- Schema version
- 2025v4.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-05-07T11:45:02-04:00 | ReturnTs |
| Tax Period End | 2025-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 581094351 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | POST OFFICE BOX ONE | AddressLine1Txt |
| City | MACON | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 312020001 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2025-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560405464 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTH RIVER ELECTRIC MEMBERSHIP | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 9108928071 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 931 | AddressLine1Txt |
| City | DUNN | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 283350931 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHRISTOPHER M SPEARS | PersonNm |
| Person Title | EXECUTIVE VP & CEO | PersonTitleTxt |
| Phone | 9108928071 | PhoneNum |
| Signature | 2026-05-06 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WILLIAM R ROUNTREE | PreparerPersonNm |
| PTIN | P01231836 | PTIN |
| Phone | 4787466277 | PhoneNum |
| Preparation | 2026-05-07 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2025 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ATTN ANDY HARDY CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CHRISTOPHER M SPEARS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 931 | AddressLine1Txt |
| City | DUNN | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28335 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $127,603,566 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SREMC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION (SOUTH RIVER) IS A PREMIER LOCALLY-OWNED AND OPERATED ELECTRIC COOPERATIVE WITH A MISSION TO PROVIDE SAFE, RELIABLE, COMPETITIVELY-PRICED ELECTRICITY. SOUTH RIVER IS COMMITTED TO ACHIEVING EXCELLENCE AND EMPOWERING ITS MEMBERS. SOUTH RIVER IS DEDICATED TO HIGH STANDARDS OF PERFORMANCE AND INTEGRITY. THE COOPERATIVE'S NUMBER ONE PRIORITY IS ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 125 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $113,152,322 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $127,489,087 | CYProgramServiceRevenueAmt |
| PY Investment Income | $49,685 | PYInvestmentIncomeAmt |
| CY Investment Income | $111,808 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,764 | PYOtherRevenueAmt |
| CY Other Revenue | $1,795 | CYOtherRevenueAmt |
| PY Total Revenue | $113,205,771 | PYTotalRevenueAmt |
| CY Total Revenue | $127,602,690 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $3,150,803 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $6,294,268 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $713,182 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $818,939 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $107,756,130 | PYOtherExpensesAmt |
| CY Other Expenses | $119,710,757 | CYOtherExpensesAmt |
| PY Total Expenses | $111,620,115 | PYTotalExpensesAmt |
| CY Total Expenses | $126,823,964 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,585,656 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $778,726 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $324,319,505 | TotalAssetsBOYAmt |
| Total Assets EOY | $341,843,472 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $197,883,275 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $209,008,740 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $126,436,230 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $132,834,732 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION (SOUTH RIVER) IS A PREMIER LOCALLY-OWNED AND OPERATED ELECTRIC COOPERATIVE WITH A MISSION TO PROVIDE SAFE, RELIABLE, COMPETITIVELY-PRICED ELECTRICITY. SOUTH RIVER IS COMMITTED TO ACHIEVING EXCELLENCE AND EMPOWERING ITS MEMBERS. SOUTH RIVER IS DEDICATED TO HIGH STANDARDS OF PERFORMANCE AND INTEGRITY. THE COOPERATIVE'S NUMBER ONE PRIORITY IS ITS MEMBERS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $126,823,964 | ExpenseAmt |
| Desc | TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE AREAS WHICH IT SERVES. | Desc |
| Total Program Service Expenses | $126,823,964 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 112 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 125 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Members And Shr Gross Income | $121,606,916 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,826,302 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANDREW A HARDY CFO | PersonNm |
| Phone | 9108928071 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 17494 US 421 SOUTH | AddressLine1Txt |
| City | DUNN | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28335 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| CLARENCE WAYNE COLLIER JR | |||||||
| PRESIDENT | 3.70 | Yes (X) | Yes (X) | $21,010 | $0 | $0 | |
| KELLY HARRINGTON | |||||||
| VICE PRESIDE | 3.80 | Yes (X) | Yes (X) | $18,904 | $0 | $0 | |
| SUE R FLOWERS | |||||||
| SECRETARY | 3.20 | Yes (X) | Yes (X) | $18,606 | $0 | $0 | |
| GEORGE B WILLIAMS | |||||||
| TREASURER | 3.60 | Yes (X) | Yes (X) | $19,360 | $0 | $0 | |
| DR E SUE GODWIN-BAKER | |||||||
| DIRECTOR | 2.90 | Yes (X) | $17,560 | $0 | $0 | ||
| JAMES W SIMMONS | |||||||
| DIRECTOR | 3.00 | Yes (X) | $18,610 | $0 | $0 | ||
| JEFFREY MARTIN | |||||||
| DIRECTOR | 2.50 | Yes (X) | $17,410 | $0 | $0 | ||
| KAYLA R BARTLEY | |||||||
| DIRECTOR | 2.90 | Yes (X) | $18,010 | $0 | $0 | ||
| RHONDA AUTRY | |||||||
| DIRECTOR | 3.00 | Yes (X) | $19,210 | $0 | $0 | ||
| CHRISTOPHER M SPEARS | |||||||
| EXECUTIVE VP | 52.00 | Yes (X) | $530,437 | $0 | $119,822 | ||
| ANDREW A HARDY | |||||||
| CFO | 50.00 | $244,032 | $0 | $84,359 | Yes (X) | ||
| CATHERINE O'DELL | |||||||
| VP OF MEMBER | 44.00 | $232,637 | $0 | $80,449 | Yes (X) | ||
| DAVID KEITH | |||||||
| VP OF ENG/OP | 50.00 | $226,845 | $0 | $84,945 | Yes (X) | ||
| ANDREW RADFORD | |||||||
| VP - IT | 45.00 | $225,353 | $0 | $76,146 | Yes (X) | ||
| PAM CARTER | |||||||
| VP OF CORPOR | 50.00 | $185,925 | $0 | $70,995 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,813,909 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $516,716 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 52 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| ServicesServicesDesc | CompensationCompensationAmt |
|---|---|
| LEE ELECTRICAL CONSTRUCTION INC | |
| CONSTRUCTION | $1,424,525 |
| RIVER CITY CONSTRUCTION INC | |
| CONSTRUCTION | $1,201,326 |
| ELECTRICAL CONSULTING ENGINEER | |
| CONSULTING | $1,184,404 |
| SUMTER UTILITIES | |
| GEN. CONTRACTOR | $1,151,692 |
| DIRECTIONAL SERVICES INC | |
| MAINT. | $969,258 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 15 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| ELECTRIC REVENUE | 221000 | $124,719,554 | $124,719,554 | |
| PAT CAP CREDITS | 221000 | $2,602,959 | $2,602,959 | |
| OTHER REVENUES | 221000 | $105,851 | $105,851 | |
| POLE RENTAL | 221000 | $60,723 | $60,723 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $127,489,087 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $111,808 | TotalRevenueColumnAmt |
| Exclusion | $111,808 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $960 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $960 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $960 | TotalRevenueColumnAmt |
| Exclusion | $960 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $1,711 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $876 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $835 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $835 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $127,602,690 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $127,429,199 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $173,491 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,294,268 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $818,939 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,282,892 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,333,052 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $79,662,662 |
| DISTRIBUTION MAINTENANCE | $6,316,416 |
| ADMIN. & GENERAL EXP. | $5,075,866 |
| CONSUMER ACCOUNTS | $3,354,500 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,685,369 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $126,823,964 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,647,769 | BOYAmt |
| EOY | $3,725,920 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $668,807 | BOYAmt |
| EOY | $718,696 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,219,951 | BOYAmt |
| EOY | $13,582,138 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,458,333 | BOYAmt |
| EOY | $1,277,778 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,877,049 | BOYAmt |
| EOY | $6,302,269 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $122,453 | BOYAmt |
| EOY | $274,901 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $373,116,017 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $96,489,513 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $263,011,515 | BOYAmt |
| EOY | $276,626,504 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,824,985 | BOYAmt |
| EOY | $3,968,151 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,247,022 | BOYAmt |
| EOY | $35,356,247 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $241,621 | BOYAmt |
| EOY | $10,868 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $324,319,505 | BOYAmt |
| EOY | $341,843,472 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,631,769 | BOYAmt |
| EOY | $16,738,737 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,953,231 | BOYAmt |
| EOY | $169,777,345 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,000,000 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,298,275 | BOYAmt |
| EOY | $22,492,658 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $197,883,275 | BOYAmt |
| EOY | $209,008,740 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $126,436,230 | BOYAmt |
| EOY | $132,834,732 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $126,436,230 | BOYAmt |
| EOY | $132,834,732 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $324,319,505 | BOYAmt |
| EOY | $341,843,472 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $778,726 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $5,619,776 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,491,749 | OtherCostOrOtherBasisAmt |
| Book Value | $1,491,749 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,685,446 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,432,994 | DepreciationAmt |
| Book Value | $5,252,452 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $358,938,822 | OtherCostOrOtherBasisAmt |
| Depreciation | $89,056,519 | DepreciationAmt |
| Book Value | $269,882,303 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $276,626,504 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (8 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| NCEMC | $29,291,362 | C |
| CFC | $3,012,078 | C |
| TEMA | $2,376,202 | C |
| FEDERATED | $528,780 | C |
| SEDC | $85,793 | C |
| CRC | $41,145 | C |
| NRTC | $19,887 | C |
| COBANK | $1,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $35,356,247 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCUM PROV FOR PENSION & BENEFITS | $11,970,972 |
| CONSUMER DEPOSITS | $3,211,365 |
| DEFERRED CREDITS | $3,005,073 |
| REGULATORY LIABILITES - ASC 980 | $2,076,923 |
| LEASE LIABILITIES | $1,892,436 |
| DEFERRED COMP LIABILITIES | $335,889 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $22,492,658 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $130,822,014 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $3,219,324 | OtherRevenueAmt |
| Revenue Not Reported | $3,219,324 | RevenueNotReportedAmt |
| Revenue Subtotal | $127,602,690 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $127,602,690 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $120,529,696 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $120,529,696 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $6,294,268 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $6,294,268 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $126,823,964 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PAGE 4, PART XI, LINE 2D | DEFERRED REVENUE - ASC 980 3,219,324 |
| SCHEDULE D, PAGE 4, PART XII, LINE 4B | BENEFITS PAID TO MEMBER CAPITAL ACCOUNTS 6,294,268 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt |
|---|---|---|---|---|---|---|---|
| CHRISTOPHER M SPEARS | |||||||
| EXECUTIVE VP & CEO | $419,204 | $6,566 | $104,667 | $72,450 | $47,372 | $650,259 | $67,254 |
| ANDREW A HARDY | |||||||
| CFO | $214,634 | $3,617 | $25,781 | $44,692 | $39,667 | $328,391 | |
| CATHERINE O'DELL | |||||||
| VP OF MEMBER SERV | $201,579 | $3,176 | $27,882 | $41,911 | $38,538 | $313,086 | |
| DAVID KEITH | |||||||
| VP OF ENG/OPS. | $206,945 | $3,274 | $16,626 | $42,966 | $41,979 | $311,790 | |
| ANDREW RADFORD | |||||||
| VP - IT | $199,475 | $3,096 | $22,782 | $40,860 | $35,286 | $301,499 | |
| PAM CARTER | |||||||
| VP OF CORPORATE SVCS | $164,180 | $2,642 | $19,103 | $34,074 | $36,921 | $256,920 | |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PAGE 1, PART I, LINE 4 | CHRISTOPHER M. SPEARS 0 67,254 0 |
| SCHEDULE J, PART III | THE IRS HAS PLACED LIMITS, BASED ON INCOME, FOR STANDARD PENSION PLANS, WHICH CAN PREVENT AN INDIVIDUAL FROM RECEIVING THE SAME PENSION BENEFIT NORMALLY PROVIDED BY THE CORPORATION. IN AN EFFORT TO ENSURE THAT CERTAIN MEMBERS OF SENIOR MANAGEMENT ARE PROVIDED THE SAME PENSION BENEFIT AS ALL OTHER EMPLOYEES, THE CORPORATION HAS ESTABLISHED AN IRS APPROVED EXECUTIVE BENEFIT RESTORATION (EBR) PLAN. THE EBR PLAN IS A NONCONTRIBUTORY DEFINED BENEFIT PENSION PLAN SPONSORED BY SOUTH RIVER EMC. BENEFITS UNDER THE EBR PLAN ARE BASED ON THE DIFFERENCE BETWEEN AMOUNTS WITHOUT IRS QUALIFIED PENSION PLAN LIMITS ON COMPENSATION AND BENEFITS AND THOSE WITH SUCH LIMITS AS DETERMINED UNDER THE PROVISIONS OF THE NRECA RS PLAN. THE EBR PLAN IS DESIGNED TO PROVIDE THE PARTICIPANT BENEFITS THAT WOULD HAVE BEEN PAID TO A PARTICIPANT IF THERE WERE NO LIMITATIONS ON BENEFITS FROM THE RS PLAN DUE TO IRC 401(A)(17) OR 415. THE PLAN IS UNFUNDED AS OF DECEMBER 31, 2025. IN 2025 THE CURRENT CEO RECEIVED A DISTRIBUTION FROM THE EBR PLAN OF 67,254. THIS AMOUNT IS INCLUDED AS A COMPONENT OF SCHEDULE J, COLUMN B (III). THIS AMOUNT IS CONSIDERED COMPENSATION BUT IS NOT REGARDED AS BASE COMPENSATION OR SALARY FOR THE CEO. FUTURE DISTRIBUTIONS WILL CONTINUE TO BE LIMITED TO ONE YEAR. ONCE THE CEO IS SEPARATED FROM THE COOPERATIVE, EBR DISTRIBUTIONS WILL CEASE. ADDITIONALLY IT SHOULD BE NOTED THAT NONE OF THE CURRENT CEO'S SALARY IS BEING DEFERRED. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION (SOUTH RIVER) IS A PREMIER LOCALLY-OWNED AND OPERATED ELECTRIC COOPERATIVE WITH A MISSION TO PROVIDE SAFE, RELIABLE, COMPETITIVELY-PRICED ELECTRICITY. SOUTH RIVER IS COMMITTED TO ACHIEVING EXCELLENCE AND EMPOWERING ITS MEMBERS. SOUTH RIVER IS DEDICATED TO HIGH STANDARDS OF PERFORMANCE AND INTEGRITY. THE COOPERATIVE'S NUMBER ONE PRIORITY IS ITS MEMBERS. |
| FORM 990 | PART I, LINE 19 IN ACCORDANCE WITH THE BYLAWS, AS ATTACHED TO THIS FORM, SOUTH RIVER EMC DOES NOT ASSIGN NONOPERATING MARGINS TO ITS MEMBERS. ACCORDINGLY, NONOPERATING MARGINS ARE NOT INCLUDED IN LINE 14, BENEFITS PAID TO OR FOR MEMBERS. IN ADDITION, SOUTH RIVER EMC HAS A SEPARATE ALLOCATION UNIT FOR ONE OF ITS MEMBERS THAT IS CALCULATED ANNUALLY ON A TAX BASIS. THE TAX BASIS CALCULATION IS NOT READILY AVAILABLE AS OF THE FILING DATE OF THE FORM 990. THEREFORE, THAT MARGIN IS ALSO INCLUDED IN PART I, LINE 19, BUT WILL BE ASSIGNED TO THE MEMBER IN THE FOLLOWING YEAR. |
| FORM 990, PAGE 6, PART VI, LINE 6 | THE COOPERATIVE HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS. A COPY OF THE BYLAWS IS INCLUDED AS PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 7A | THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS. A COPY OF THE BYLAWS IS INCLUDED AS PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 7B | CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS PROVIDED FOR IN THE COOPERATIVE'S BYLAWS WHICH ARE INCLUDED AS PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 11B | FORM 990 IS REVIEWED BY THE FULL BOARD EACH YEAR PRIOR TO FILING. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY (POLICY 615-ATTACHED). IN ADDITION, THE FOLLOWING POLICIES WHICH ARE INCLUDED AS PART OF THIS RETURN ARE ENFORCED TO COMPLEMENT POLICY 615: 309, 310, 321, 616 AND 620. |
| FORM 990, PAGE 6, PART VI, LINE 15A | A COMPENSATION PLAN IS DEVELOPED AND PRESENTED TO THE BOARD OF DIRECTORS FOR APPROVAL BY A THIRD PARTY INDEPENDENT CONSULTING GROUP. THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION PLAN FOR THE CEO AS PROVIDED FOR IN THE COOPERATIVE'S POLICY 602, WHICH IS INCLUDED AS PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 15B | A COMPENSATION PLAN IS DEVELOPED AND PRESENTED TO THE BOARD OF DIRECTORS FOR APPROVAL BY A THIRD PARTY INDEPENDENT CONSULTING GROUP. ONCE THE PLAN IS APPROVED BY THE BOARD OF DIRECTORS, THE COMPENSATION PROCESS FOR OFFICER AND KEY EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED BY THE CEO, AS DELEGATED UNDER THE AUTHORITY OF BOARD POLICY 610, WHICH IS INCLUDED AS PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE COOPERATIVE MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN ACCORDANCE WITH BOARD POLICY 606 WHICH IS INCLUDED AS PART OF THIS RETURN. |
| FORM 990, PART XI, LINE 9 | BENEFITS PAID TO MEMBERS 6,294,268 PERMANENT EQUITY 1,332,481 DEFERRED REVENUE - ASC 980 3,219,324 CAPITAL CREDIT RETIREMENTS -5,197,362 DECREASE IN MEMBERSHIP FEES -1,635 OTHER COMPREHENSIVE INCOME -27,300 TOTAL 5,619,776 |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTH RIVER COMM ASSISTANCE CORP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 931 | AddressLine1Txt |
| City | DUNN | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 283350931 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 261146807 | EIN |
| Primary Activities | CHARITY | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Exempt Code Section | 3 | ExemptCodeSectionTxt |
| Public Charity Status | 7 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | false | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTH RIVER COMM ASSISTANCE CORP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | O | TransactionTypeTxt |
| Involved | $12,584 | InvolvedAmt |
| Method Of Amount Determination | FMV | MethodOfAmountDeterminationTxt |