NonprofitsWake Electric Membership Corp

Wake Electric Membership Corp

WAKE FOREST, NC

Total revenue

$116.7M

Total expenses

$116.7M

Net assets

$119.8M

Grants received

$60K

5 grants

EIN

560440935

Tax year

2024

Mission

Wake electric provides reliable, safe, and affordable energy and related services. Wake electric operates as a cooperative business and continually improves its services to meet the needs of our members and enhance their quality of life. Wake electric operates a sustainable electric system. Sustainable means delivering affordable, increasingly clean electricity over a grid that is more efficient, resilient and capable of supporting new energy resources.

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue$115.9M
Investment income$859K
Other revenue
Total revenue$116.7M

Expenses

Grants paid
Salaries & benefits$11.5M
Fundraising
Other expenses$98.8M
Total expenses$116.7M
Total assets$335.4M
Net assets$119.8M

People

15 listed

NameRoleCompensation

JAMES E MANGUM JR

CEO & GEN. M

Board

$1.1M

50 hrs/wk

H MICHAEL DICKERSON

PRESIDENT

Board

$41K

9.97 hrs/wk

ALLEN NELSON

VICE PRESIDE

Board

$35K

8.27 hrs/wk

SUZY MORGAN

DIRECTOR

Board

$34K

13.4 hrs/wk

GREG FULLER

SECRETARY

Board

$33K

7.81 hrs/wk

JACKIE THOMPSON

DIRECTOR

Board

$31K

6.79 hrs/wk

ROBERT HILL

TREASURER

Board

$31K

10.54 hrs/wk

WILLIAM DANIEL KEEL

DIRECTOR

Board

$31K

6.77 hrs/wk

ROBERT JOE EDDINS

DIRECTOR

Board

$29K

5.88 hrs/wk

W JOSEPH HILBURN JR

DIRECTOR

Board

$27K

6.98 hrs/wk

CYNTHIA M CURRIN

GENERAL COUN

Staff

$431K

50 hrs/wk

DON BOWMAN

MANAGER OF O

Staff

$426K

50 hrs/wk

CHRISTOPHER D WRIGHT

MGR OF ENGIN

Staff

$217K

50 hrs/wk

KIRK METCALF

VP OF MARKET

Staff

$214K

50 hrs/wk

CECIL ALEXANDER

SUBSTATION S

Staff

$188K

50 hrs/wk

Independent contractors

TOWNSEND TREE SERVICE CO LLC

ROW SERVICES

$1.6M

C-PHASE SERVICES LLC

OH LINE CONST

$535K

AMPIRICAL SOLUTIONS LLC

ENG. CONSULTANT

$328K

ITSAVVY LLC

LICENSE SUPPORT

$119K

Grants received

Showing 5 of 5

FromAmountPurposeYear
$12K
EDUCATIONAL ASSISTANCE
2024
$12K
EDUCATIONAL ASSISTANCE
2023
$12K
EDUCATIONAL ASSISTANCE
2022
$11K
EDUCATIONAL ASSISTANCE
2021
$11K
EDUCATIONAL ASSISTANCE
2020

Funded by

$60K from 1 funder · 5 grants · 2020–2024

North Carolina Electric Membership

$60K · 5 grants · 2020–2024

Details

EIN560440935
Subsection12
Ruling date1961-03
Formed1940
Employees61
WAKE ELECTRIC MEMBERSHIP CORP — Mission, Financials & Grants Received | Grantivo