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Nonprofit · EIN 58-0182756

CANOOCHEE ELECTRIC MEMBERSHIP CORP

Tax-exempt · REIDSVILLE, GA 30453

Financials

$69.2M$69.2M2023$77.5M$77.5M2024
Revenue Expenses · by fiscal year end
Financials of CANOOCHEE ELECTRIC MEMBERSHIP CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$77,519,002$77,519,002$0$199,238,735$123,561,944$75,676,791
December 31, 2023990$69,238,946$69,238,946$0$174,923,872$103,728,750$71,195,122
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$77,477,716
Investment income
$41,286
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$5,063,097
Compensation of officers, directors and key employees
$521,421
Salaries, compensation and benefits (total)
$521,421
Professional fundraising fees
$0
Depreciation
$7,163,967

Balance sheet and other

Total assets, start of year
$174,923,872
Total assets, end of year
$199,238,735
Total liabilities, end of year
$123,561,944
Net assets, end of year
$75,676,791
Land, buildings and equipment
$144,101,431
Gross receipts
$77,519,002
Employees
131
Volunteers
0
Year formed
1938
State of legal domicile
GA

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.

NameTitleHours / weekCompensationOther / benefits
MICHAEL WASSONCEO
Officer
50$286,993$115,378
JOSEPH ANDY WHITENCOO
Highest-paid employee
50$201,302$94,001
HUGH GARRETT DURRENCELINEMAN
Highest-paid employee
77$198,412$44,976
MATHEW H OLSONCFO
Highest-paid employee
50$199,708$33,480
PATRICK BURKHALTER JRCAO
Highest-paid employee
50$182,282$28,133
LOU ANN PHILLIPSCEO - RETIRED
Highest-paid employee
23$181,014$25,484
CONNIE THRIFTDIRECTOR/PRESIDENT
Trustee or director, Officer
22$17,300$0
LAVANDA LYNNDIRECTOR
Trustee or director
15$15,800$0
KIMBERLY S BLOCKERDIRECTOR/TREASURER
Trustee or director, Officer
20$15,400$0
BERNARD PURVISDIRECTOR
Trustee or director
10$12,950$0
ROBERT H FLOYDDIRECTOR/VICE PRESIDENT
Trustee or director, Officer
14$12,550$0
LANELL M OLIVERDIRECTOR/SECRETARY
Trustee or director, Officer
15$12,350$0
KENNETH L DURRENCEDIRECTOR
Trustee or director
12$11,450$0
MARVIN E BRADLEY JRDIRECTOR
Trustee or director
10$11,000$0
ROBERT E DASHERDIRECTOR
Trustee or director
9$10,250$0
990 for the year ended December 31, 2023: 16 people
NameTitleHours / weekCompensationOther / benefits
LOU ANN PHILLIPSCEO - RETIRED
Officer
50$271,846$120,394
MICHAEL WASSONCEO
Officer
50$215,018$96,364
HUGH GARRETT DURRENCELINEMAN
Highest-paid employee
71$186,999$44,419
JOSEPH ANDY WHITENCOO
Highest-paid employee
50$158,396$71,762
HOMER J WELCHOPERATIONS MANAGER
Highest-paid employee
50$141,393$72,505
MATHEW H OLSONCFO
Highest-paid employee
50$153,693$25,106
PATRICK BURKHALTER JRCAO
Highest-paid employee
50$146,211$28,361
CONNIE THRIFTDIRECTOR/PRESIDENT
Trustee or director, Officer
22$21,150$0
LAVANDA LYNNDIRECTOR
Trustee or director
15$18,050$0
KIMBERLY S BLOCKERDIRECTOR/TREASURER
Trustee or director, Officer
18$17,950$0
LANELL M OLIVERDIRECTOR/SECRETARY
Trustee or director, Officer
15$16,250$0
BERNARD PURVISDIRECTOR
Trustee or director
7$13,850$0
ROBERT H FLOYDDIRECTOR/VICE PRESIDENT
Trustee or director, Officer
14$13,800$0
KENNETH L DURRENCEDIRECTOR
Trustee or director
7$13,400$0
MARVIN E BRADLEY JRDIRECTOR
Trustee or director
10$12,200$0
ROBERT E DASHERDIRECTOR
Trustee or director
9$11,750$0

Address and contacts

Address (IRS master file)
PO BOX 487, REIDSVILLE, GA 30453-0487
Principal officer (990 for 2024)
MICHAEL WASSON, PO BOX 487, REIDSVILLE, GA 30453
Signed the 990
MICHAEL WASSON, CHIEF EXECUTIVE OFFICER
Phone
(912) 557-4391
Return prepared by
NICHOLS CAULEY & ASSOCIATES LLC

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

990 for the year ended December 31, 2024

Program accomplishments

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
    Expenses $77,519,002

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
58-0182756
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1943
Accounting year ends
December
Files
Form 990 or 990-EZ

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$77,519,002$77,519,002$199,238,735XML
990December 2023$69,238,946$69,238,946$174,923,872XML
990December 2022$66,658,751$68,029,915$163,781,332IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 58-0182756).

Questions about CANOOCHEE ELECTRIC MEMBERSHIP CORP

What is the EIN of CANOOCHEE ELECTRIC MEMBERSHIP CORP?
The employer identification number (EIN) of CANOOCHEE ELECTRIC MEMBERSHIP CORP is 58-0182756.
Is CANOOCHEE ELECTRIC MEMBERSHIP CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1943.
Are donations to CANOOCHEE ELECTRIC MEMBERSHIP CORP tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does CANOOCHEE 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 CANOOCHEE 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 CANOOCHEE 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 CANOOCHEE ELECTRIC MEMBERSHIP CORP?
The 990 for the year ended December 31, 2024 names MICHAEL WASSON.
Who are the officers and directors of CANOOCHEE ELECTRIC MEMBERSHIP CORP?
The 990 for the year ended December 31, 2024 lists 15 people; 15 received compensation from the organization, the highest $286,993 (MICHAEL WASSON, CEO).
How much revenue does CANOOCHEE ELECTRIC MEMBERSHIP CORP have?
On its 990 for the year ended December 31, 2024 it reported revenue of $77,519,002, expenses of $77,519,002 and total assets of $199,238,735 at year end.

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