2026-05-15T10:37:17-07:00 2025-12-31 990 2025-01-01 560168825 CARTERET-CRAVEN ELECTRIC COOPERATIVE CART 2522473107 PO Box 1490 Newport NC 28570 Tara Alderman VP of Finance & Accounting 2527272233 2026-04-30 2025 2025-03-06 01:10:19Z Tara Alderman PO Box 1490 Newport NC 28570 81569759 0 X www.ccemc.com X 1940 NC Distribution of electric power to member/owners within the cooperative's service territory. 9 9 84 0 0 0 0 0 72348688 80825693 878992 724227 1960723 9000 75188403 81558920 0 0 0 3825486 8632125 9161847 0 0 0 62503707 69020946 71135832 82008279 4052571 -449359 140843073 135588809 73362213 69041666 67480860 66547143 To provide safe, reliable, and affordable electric service to our member/owners. 0 0 82008279 78075013 The Cooperative distributes electric power to its member/owners, serving 36,464 members and 43,756 metered electric services within its service territory. Operations focus on maintaining electric infrastructure and providing reliable electric service at cost. 0 0 0 82008279 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 84 1 1 1 0 0 0 0 78075013 2625337 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X Tara Alderman 2527272233 PO Box 1490 Newport NC 28570 Jake Joplin CEO 45 0 X 358911 0 208019 Will Pittman VP of Engineering 45 0 X 187271 0 59162 Tara Alderman VP of Finance & Accounting 45 0 X 159569 0 39601 Cheryl Slater VP of Customer Services 45 X 169223 0 0 Joseph Klott Line Crew Leader 44.8 0 X 134752 0 0 Rex Larowe Director of Engineering 45 0 X 133961 0 0 Tracy Price VP of Human Rescources 45 0 X 129893 0 0 Deloria Y Irby Director 9.7 0 X 24400 0 0 James Schmitt Vice President 6.7 0 X 21950 0 0 Amy L Lock President 5.8 0 X 21600 0 0 Douglas S Fulcher Assistant Treasurer 4.6 0 X 20200 0 0 Ben S Ball Treasurer 3.6 0 X 17688 0 0 Alvin West Secretary 5.1 0 X 17338 0 0 Thom Styron Assistant Secretary 2.4 0 X 17050 0 0 William Fred Fulcher Director 2.6 0 X 15560 0 0 Anthony Nelson Director 4.1 0 X 14450 0 0 1443816 0 306782 19 0 1 0 C PHASE SERVICES PO Box 3210 Kinston NC 28502 Utility Construction(Transmission/Distribution) 3489517 XYLEM TREE EXPERTS 208 E PLUME ST NORFOLK VA 23510 Right of Way tree trimming 2208247 TEAM CONSTRUCTION 825 GUM BRANCH RD SUITE 128 JACKSONVILLE NC 28540 Facility renovation and construction services 796106 DAVEY RESOURCE GROUP INC 295 S WATER STREET SUITE 300 KENT OH 44240 Electric distribution and transmission system field inventory 411519 DW HILL INC 159 Mill Creek Rd Newport NC 28570 Boring Services 352206 8 0 Sale of Electricity to Members 221000 78075013 78075013 0 0 Other Revenues 221000 193910 193910 0 0 Capital Credits Received 221000 210930 210930 0 0 Contributions in Aid to Const 221000 2345840 2345840 0 0 0 0 0 0 80825693 677252 0 0 677252 0 0 0 0 0 0 0 0 9000 0 0 0 9000 0 9000 0 0 9000 0 57814 0 10839 0 46975 46975 0 0 46975 0 81558920 80825693 0 733227 X 3825486 1068327 5017884 1416051 1192372 467213 72994 48355 1999394 5438696 361703 Cost of Purchased Power 54639176 Maintenance & Operational Expenses 4361532 Customer/Administrative & General Expenses 2099096 82008279 0 0 0 8764405 9797278 13000000 9569283 10051819 195313 888265 523399 -43584 191116 177231685 87396150 85156647 89835535 23508057 24994349 140843073 135588809 14943867 15532086 210097 0 58208249 53509580 73362213 69041666 X 0 0 0 0 67480860 66547143 67480860 66547143 140843073 135588809 X -449359 0 0 0 0 -484358 X 0 1 X 1 0 869617 0 869617 8042543 0 3093311 4949232 0 0 0 0 168319525 0 84302839 84016686 0 0 0 0 89835535 Patronage Capital in Associated Organizations 24991418 C Right to Use Non Utility Property-Net of Amortization 2931 F 24994349 80700350 0 0 0 0 0 80700350 0 858570 858570 81558920 78182793 0 0 0 0 0 78182793 0 3825486 3825486 82008279 Schedule D, Part XI, Line 4b Non Cash Patronage Allocations (not revenue) -1,698,200. Contributions in Aid to Construction (not revenue) +2,345,840. Retirement of Capital Credits +210,930. Schedule D, Part XII, Line 4b Patronage Dividends Paid to Members (not expense) 3,825,486 X X X 0 1 0 Jake Joplin CEO 355112 0 1000 0 2799 0 208019 0 0 0 566930 0 0 0 Will Pittman VP of Engineering 185857 0 1000 0 414 0 59162 0 0 0 246433 0 0 0 Cheryl Slater VP of Customer Services 165889 0 1000 0 2334 0 0 0 0 0 169223 0 0 Tara Alderman VP of Finance & Accounting 157502 0 1000 0 1067 0 39601 0 0 0 199170 0 0 0 Schedule J, Part I, Line 4 Certain individuals participate in a nonqualified Executive Benefit Restoration plan designed to restore benefits limited under applicable IRS rules. Form 990, Part VI, Section A, Line 6 Consumers of electric power served by the cooperative are its members. The cooperative is governed by a board of directors elected by the membership, with directors serving staggered three year terms. Form 990, Part VI, Section A, Line 7a Members of the cooperative elect the board of directors, in accordance with the cooperative's bylaws. Form 990, Part VI, Section A, Line 7b The Board of Directors is elected by the membership and exercises governance authority on behalf of the membership. Members vote on the election of directors and other matters presented at the annual membership meeting in accordance with the cooperative's bylaws. Form 990, Part VI, Section B, Line 11b A copy of the Form 990 is provided to the board of directors for review prior to filing. Form 990, Part VI, Section B, Line 12c The conflict of interest policy is reviewed by the board of directors annually. Directors then submit and sign annual conflict of interest disclosure statements. Form 990, Part VI, Section B, Line 15 The board of directors reviews and approves compensation and benefits using information provided by an independent compensation consultant. Form 990, Part VI, Section C, Line 19 The cooperative's corporate bylaws are made available on the cooperative's website. Copies of governing documents, including the conflict of interest policy and audited financial statements, are available at the cooperative's corporate offices and are provided to members upon request. Form 990, Part IX, Line 4 990 Part 1 Line 14 and Part IX Line 4 Patronage Dividends paid to members' accounts in accordance with the preexisting obligations of Carteret Craven Electric Membership Corporation's by Bylaws. 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. Form 990, Part XI, Line 9 Non Cash Patronage Allocations not revenue 1,698,200. Contributions in aid of construction not revenue -2,345,840 Retirement of Capital Credits -210,930 Changes in Other Comprehensive Income 374,212. Total -484,358