Nonprofit · EIN 56-0405464
SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION
Tax-exempt · DUNN, NC 28335
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $127,602,690 | $126,823,964 | $778,726 | $341,843,472 | $209,008,740 | $132,834,732 |
| December 31, 2024 | 990 | $113,205,771 | $111,620,115 | $1,585,656 | $324,319,505 | $197,883,275 | $126,436,230 |
| December 31, 2023 | 990 | $109,686,443 | $107,495,211 | $2,191,232 | $303,047,273 | $180,344,479 | $122,702,794 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $127,489,087
- Investment income
- $111,808
- Net rental income
- $960
- Net income from sales of inventory
- $835
- Other revenue
- $1,795
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $6,294,268
- Compensation of officers, directors and key employees
- $818,939
- Salaries, compensation and benefits (total)
- $818,939
- Professional fundraising fees
- $0
- Depreciation
- $10,333,052
Balance sheet and other
- Total assets, start of year
- $324,319,505
- Total assets, end of year
- $341,843,472
- Total liabilities, end of year
- $209,008,740
- Net assets, end of year
- $132,834,732
- Land, buildings and equipment
- $276,626,504
- Gross receipts
- $127,603,566
- Employees
- 125
- Year formed
- 1940
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHRISTOPHER M SPEARS | EXECUTIVE VP Officer | 52 | $530,437 | $119,822 |
| ANDREW A HARDY | CFO Highest-paid employee | 50 | $244,032 | $84,359 |
| CATHERINE O'DELL | VP OF MEMBER Highest-paid employee | 44 | $232,637 | $80,449 |
| DAVID KEITH | VP OF ENG/OP Highest-paid employee | 50 | $226,845 | $84,945 |
| ANDREW RADFORD | VP - IT Highest-paid employee | 45 | $225,353 | $76,146 |
| PAM CARTER | VP OF CORPOR Highest-paid employee | 50 | $185,925 | $70,995 |
| CLARENCE WAYNE COLLIER JR | PRESIDENT Trustee or director, Officer | 3.7 | $21,010 | $0 |
| GEORGE B WILLIAMS | TREASURER Trustee or director, Officer | 3.6 | $19,360 | $0 |
| RHONDA AUTRY | DIRECTOR Trustee or director | 3 | $19,210 | $0 |
| KELLY HARRINGTON | VICE PRESIDE Trustee or director, Officer | 3.8 | $18,904 | $0 |
| JAMES W SIMMONS | DIRECTOR Trustee or director | 3 | $18,610 | $0 |
| SUE R FLOWERS | SECRETARY Trustee or director, Officer | 3.2 | $18,606 | $0 |
| KAYLA R BARTLEY | DIRECTOR Trustee or director | 2.9 | $18,010 | $0 |
| DR E SUE GODWIN-BAKER | DIRECTOR Trustee or director | 2.9 | $17,560 | $0 |
| JEFFREY MARTIN | DIRECTOR Trustee or director | 2.5 | $17,410 | $0 |
990 for the year ended December 31, 2024: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHRISTOPHER M SPEARS | EXECUTIVE VP Officer | 52 | $434,932 | $116,924 |
| ANDREW A HARDY | CFO Highest-paid employee | 48 | $220,672 | $80,464 |
| LARRY C RICHARDSON JR | VP OF E&O Highest-paid employee | 45 | $211,450 | $66,097 |
| CATHERINE O'DELL | VP OF MEMBER Highest-paid employee | 44 | $197,406 | $76,922 |
| DAVID L LARSON JR | SUPERVISOR L Highest-paid employee | 48 | $202,965 | $68,392 |
| ANDREW RADFORD | VP - IT Highest-paid employee | 45 | $195,213 | $70,873 |
| CLARENCE WAYNE COLLIER JR | PRESIDENT Trustee or director, Officer | 5.3 | $20,710 | $0 |
| KELLY HARRINGTON | VICE PRESIDE Trustee or director, Officer | 4.3 | $19,054 | $0 |
| DR E SUE GODWIN-BAKER | DIRECTOR Trustee or director | 2.8 | $18,760 | $0 |
| GEORGE B WILLIAMS | TREASURER Trustee or director, Officer | 2.8 | $18,610 | $0 |
| JAMES W SIMMONS | DIRECTOR Trustee or director | 3.2 | $18,010 | $0 |
| JEFFREY MARTIN | DIRECTOR Trustee or director | 2.7 | $18,010 | $0 |
| SUE R FLOWERS | SECRETARY Trustee or director, Officer | 2.4 | $17,856 | $0 |
| KAYLA R BARTLEY | DIRECTOR Trustee or director | 2.2 | $17,560 | $0 |
| RHONDA AUTRY | DIRECTOR Trustee or director | 2.8 | $12,756 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHRISTOPHER M SPEARS | EXECUTIVE VP Officer | 55 | $401,104 | $113,193 |
| ANDREW A HARDY | CFO Highest-paid employee | 50 | $207,375 | $74,011 |
| LARRY C RICHARDSON JR | VP OF E&O Highest-paid employee | 45 | $198,347 | $62,644 |
| CATHERINE O'DELL | VP OF MEMBER Highest-paid employee | 45 | $183,210 | $73,095 |
| STEVEN K HOLMES | SUPERVISOR L Highest-paid employee | 46 | $178,996 | $64,973 |
| DAVID L LARSON JR | SUPERVISOR L Highest-paid employee | 45 | $174,527 | $66,543 |
| KELLY HARRINGTON | VICE PRESIDE Trustee or director, Officer | 4.8 | $20,254 | $0 |
| JAMES W SIMMONS | DIRECTOR Trustee or director | 3.1 | $18,160 | $0 |
| SUE R FLOWERS | SECRETARY Trustee or director, Officer | 3.4 | $18,156 | $0 |
| GEORGE B WILLIAMS | TREASURER Trustee or director, Officer | 2.6 | $18,010 | $0 |
| CLARENCE WAYNE COLLIER JR | DIRECTOR Trustee or director | 2.8 | $18,010 | $0 |
| DR E SUE GODWIN-BAKER | PRESIDENT Trustee or director, Officer | 3.8 | $17,560 | $0 |
| JEFFREY MARTIN | DIRECTOR Trustee or director | 2.4 | $17,260 | $0 |
| DORCAS A FISHER | DIRECTOR Trustee or director | 1.5 | $17,110 | $0 |
| KAYLA R BARTLEY | DIRECTOR Trustee or director | 2.4 | $8,554 | $0 |
| CLIFTON MCNEILL JR | DIRECTOR Trustee or director | 1.3 | $2,702 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 931, DUNN, NC 28335-0931
- Principal officer (990 for 2025)
- CHRISTOPHER M SPEARS, PO BOX 931, DUNN, NC 28335
- Signed the 990
- CHRISTOPHER M SPEARS, EXECUTIVE VP & CEO
- Phone
- (910) 892-8071
- Website
- WWW.SREMC.COM
- Return prepared by
- MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC
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.
Program accomplishments
- TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE AREAS WHICH IT SERVES.Expenses $126,823,964
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-0405464
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1961
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $341,843,472
- Income (IRS master file)
- $127,603,566
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $127,602,690 | $126,823,964 | $341,843,472 | IRS |
| 990 | December 2024 | $113,205,771 | $111,620,115 | $324,319,505 | IRS |
| 990 | December 2023 | $109,686,443 | $107,495,211 | $303,047,273 | XML |
| 990 | December 2022 | $110,165,030 | $108,683,731 | $282,216,909 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-0405464).
Questions about SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION
- What is the EIN of SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION?
- The employer identification number (EIN) of SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION is 56-0405464.
- Is SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1961.
- Are donations to SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION?
- The 990 for the year ended December 31, 2025 names CHRISTOPHER M SPEARS.
- Who are the officers and directors of SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION?
- The 990 for the year ended December 31, 2025 lists 15 people; 15 received compensation from the organization, the highest $530,437 (CHRISTOPHER M SPEARS, EXECUTIVE VP).
- How much revenue does SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $127,602,690, expenses of $126,823,964 and total assets of $341,843,472 at year end.
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