Nonprofit · EIN 56-0435549
UNION ELECTRIC MEMBERSHIP CORP
Tax-exempt · MONROE, NC 28110
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $204,861,227 | $203,629,298 | $1,231,929 | $511,952,330 | $283,642,546 | $228,309,784 |
| December 31, 2023 | 990 | $183,252,830 | $183,391,522 | -$138,692 | $493,152,133 | $276,870,664 | $216,281,469 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $201,746,612
- Investment income
- $2,747,868
- Net rental income
- $423,424
- Net gain from sales of assets
- $105,720
- Other revenue
- $366,747
Expenses
- Grants and similar amounts paid
- $38,189
- Benefits paid to members
- $13,290,373
- Compensation of officers, directors and key employees
- $2,361,653
- Other salaries and wages
- $14,448,154
- Salaries, compensation and benefits (total)
- $21,257,125
- Professional fundraising fees
- $0
- Legal fees
- $88,123
- Travel
- $2,607,981
- Depreciation
- $16,075,105
Balance sheet and other
- Total assets, start of year
- $493,152,133
- Total assets, end of year
- $511,952,330
- Total liabilities, end of year
- $283,642,546
- Net assets, end of year
- $228,309,784
- Land, buildings and equipment
- $368,004,427
- Publicly traded securities
- $16,548,172
- Gross receipts
- $204,977,636
- Employees
- 143
- Year formed
- 1939
- 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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GREGORY S ANDRESS | EVP VP & GEN Officer | 40 | $785,112 | $383,851 |
| DAVID GROSS | VP ENG & OPE Officer | 40 | $371,017 | $154,895 |
| THERESA BLACKWELL | VP FIN & ACC Officer | 40 | $362,104 | $153,657 |
| WAYNE HATHCOCK | MGR OF ENG Highest-paid employee | 40 | $222,898 | $118,433 |
| CARRIE STROUD | VP COMMS & M Highest-paid employee | 40 | $216,568 | $122,232 |
| JEREMY BLACK | VP INFO SERV Highest-paid employee | 40 | $241,203 | $97,185 |
| LONNIE KIRKLEY | MGR OPERATIO Highest-paid employee | 40 | $215,051 | $32,810 |
| JAMES MURPHY | MGR FINANCE Highest-paid employee | 40 | $186,248 | $32,781 |
| DENT H TURNER | PRESIDENT Trustee or director, Officer | 5 | $20,977 | $0 |
| WINNIE HONEYCUTT | DIRECTOR Trustee or director | 4 | $19,177 | $0 |
| DAVID G HYATT | VICE PRESIDE Trustee or director, Officer | 3 | $17,077 | $0 |
| GARY BOSTIAN | DIRECTOR Trustee or director | 3 | $15,877 | $0 |
| TOM J CAUDLE | DIRECTOR Trustee or director | 2 | $15,877 | $0 |
| DAVID E SMITH | DIRECTOR Trustee or director | 2 | $15,877 | $0 |
| SUE THREATT | ASST. SEC/TR Trustee or director, Officer | 2 | $15,877 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS E PORTER JR | DIRECTOR Trustee or director | 2 | $15,277 |
| SHERISE JONES | SEC-TREAS Trustee or director, Officer | 2 | $15,003 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GREGORY S ANDRESS | EVP VP & GEN Officer | 40 | $723,758 | $353,092 |
| THERESA BLACKWELL | VP FIN & ACC Officer | 40 | $355,570 | $133,080 |
| DAVID GROSS | VP ENG & OPE Officer | 40 | $347,884 | $137,447 |
| CARRIE STROUD | VP COMMS & M Highest-paid employee | 40 | $216,568 | $107,503 |
| JEREMY BLACK | VP INFO SERV Highest-paid employee | 40 | $224,671 | $90,616 |
| WAYNE HATHCOCK | MGR OF ENG Highest-paid employee | 40 | $208,055 | $105,727 |
| LONNIE KIRKLEY | MGR OPERATIO Highest-paid employee | 40 | $201,920 | $30,674 |
| JAMES MURPHY | MGR FINANCE Highest-paid employee | 40 | $169,372 | $30,641 |
| NUMA ROBERTSON | FORMER VP CO Officer | – | $82,435 | $115,898 |
| DENT H TURNER | PRESIDENT Trustee or director, Officer | 4 | $19,473 | $0 |
| WINNIE HONEYCUTT | DIRECTOR Trustee or director | 3 | $18,273 | $0 |
| DAVID G HYATT | VICE PRESIDE Trustee or director, Officer | 3 | $17,073 | $0 |
| DAVID E SMITH | DIRECTOR Trustee or director | 3 | $17,073 | $0 |
| SHERISE JONES | SEC-TREAS Trustee or director, Officer | 2 | $15,903 | $0 |
| TOM J CAUDLE | DIRECTOR Trustee or director | 2 | $15,873 | $0 |
| SUE THREATT | ASST. SEC/TR Trustee or director, Officer | 2 | $15,573 | $0 |
| THOMAS E PORTER JR | DIRECTOR Trustee or director | 2 | $15,273 | $0 |
| LEE ROY KIRK JR | FORMER PRESI Trustee or director, Officer | 4 | $14,609 | $0 |
| GARY BOSTIAN | DIRECTOR Trustee or director | – | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1525 N ROCKY RIVER RD, MONROE, NC 28110-7958
- Principal officer (990 for 2024)
- GREGORY S ANDRESS, PO BOX 5014, MONROE, NC 281115014
- Signed the 990
- THERESA BLACKWELL, VP FIN & ACCTG
- Phone
- (704) 289-3145
- Website
- WWW.UNION-POWER.COM
- Return prepared by
- ADAMS JENKINS & CHEATHAM
Mission
TO ENHANCE THE QUALITY OF LIFE OF OUR MEMBERS AND THE COMMUNITIES WE SERVE BY DELIVERING ON OUR PROMISE TO PROVIDE SAFE, RELIABLE ELECTRIC POWER AND ENERGY SERVICES WITH EXCEPTIONAL VALUE.
Program accomplishments
- SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF UNION EMC. THE CORPORATION'S THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES ARE AS FOLLOWS: COST OF POWER 127,799,254 DEPRECIATION EXPENSE 16,075,105 SALARIES 14,448,154
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 | Not 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
- 56-0435549
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1966
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $511,952,330
- Income (IRS master file)
- $204,977,636
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $204,861,227 | $203,629,298 | $511,952,330 | XML |
| 990 | December 2023 | $183,252,830 | $183,391,522 | $493,152,133 | XML |
| 990 | December 2022 | $177,639,808 | $172,393,569 | $441,713,632 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 56-0435549).
Questions about UNION ELECTRIC MEMBERSHIP CORP
- What is the EIN of UNION ELECTRIC MEMBERSHIP CORP?
- The employer identification number (EIN) of UNION ELECTRIC MEMBERSHIP CORP is 56-0435549.
- Is UNION ELECTRIC MEMBERSHIP CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1966.
- Are donations to UNION ELECTRIC MEMBERSHIP CORP tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does UNION ELECTRIC MEMBERSHIP CORP 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 UNION ELECTRIC MEMBERSHIP CORP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UNION ELECTRIC MEMBERSHIP CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of UNION ELECTRIC MEMBERSHIP CORP?
- The 990 for the year ended December 31, 2024 names GREGORY S ANDRESS.
- Who are the officers and directors of UNION ELECTRIC MEMBERSHIP CORP?
- The 990 for the year ended December 31, 2024 lists 17 people; 17 received compensation from the organization, the highest $785,112 (GREGORY S ANDRESS, EVP VP & GEN).
- How much revenue does UNION ELECTRIC MEMBERSHIP CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $204,861,227, expenses of $203,629,298 and total assets of $511,952,330 at year end.
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