2013-05-10T07:24:45-05:00 2012-12-31 560747981 DIXON HUGHES GOODMAN LLP 110 EXCHANGE STREET SUITE G DANVILLE VA 24541 990 2012-01-01 560478157 CENTRAL ELECTRIC MEMBERSHIP CORPORATION CENT 9197744900 P O BOX 1107 SANFORD NC 273311107 MORRIS MCCLELION 9197744900 2013-05-08 1 WILLIAM J SETLIFF P00169735 4347925334 2012 2016-02-24 21:20:13Z MORRIS MCCLELION PO BOX 1107 SANFORD NC 27331 45310715 0 X N/A X 1941 NC SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS 10 10 71 0 0 0 0 0 45080338 45202147 50549 74947 30785 33621 45161672 45310715 0 0 1259209 2269395 678337 671779 0 0 0 39330006 41236946 41267552 44178120 3894120 1132595 77015686 81861742 45121335 49050092 31894351 32811650 SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS 0 0 SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 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 30 0 1 71 1 0 0 0 0 0 0 0 45097029 108568 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NC X DOUGLAS S ROWLES 9197744900 128 WILSON ROAD SANFORD NC 273311107 L FRANK COMER III 5.20 X 15517 0 0 EDITH C COX 3.40 X 10620 0 0 R G WADSWORTH JR 2.00 X 13767 0 0 CARL OUTZ 2.00 X 5863 0 0 HENRY RANDOLPH 3.30 X 14517 0 0 NANCY G HOLMES 1.50 X 6370 0 0 JAMES B BROOKS 1.00 X 5235 0 0 W PHILLIP THOMPSON JR 3.10 X 15267 0 0 REBECCA G PASCHAL-COGAN 4.90 X 24875 0 0 J THOMAS DALRYMPLE 5.30 X 14132 0 0 MORRIS MCCLELION 40.00 X 156503 0 47648 DOUGLAS S ROWLES 40.00 X 111685 0 42818 MICHAEL ADCOCK 40.00 X 109048 0 57990 503399 0 148456 3 0 1 0 LEE ELECTRICAL CONSTRUCTION INC PO BOX 55 ABERDEEN NC 28315 OVERHEAD AND UNDERGROUND CONSTRUCTION 1361215 LEWIS TREE SERVICE INC PO BOX 8000 BUFFALO NY 14267 TREE REMOVAL 385718 2 SALE OF ELECTRICITY AN 221000 44191729 44191729 PATRONAGE ALLOCATIONS 221000 711049 711049 CONTRIBUTIONS IN AID 221000 194251 194251 POLE RENTAL INCOME 221000 105118 105118 45202147 32092 32092 6600 0 6600 6600 6600 42855 0 42855 42855 42855 OTHER REVENUE 221000 27021 27021 27021 45310715 45173505 0 137210 2269395 503583 114229 53967 1702549 2881619 COST OF POWER 26435518 DISTRIBUTION - OPERATIO 2692191 ADMINISTRATIVE AND GENE 2248576 DISTRIBUTION - MAINTENA 1647534 3628959 44178120 420045 488767 1799058 1481275 2273477 2425577 389726 311108 921540 1030183 2245131 1487409 96609470 29848004 62760181 66761466 6206528 7875957 77015686 81861742 4099196 3729218 32658268 37519884 8363871 7800990 45121335 49050092 X 0 0 0 0 31894351 32811650 31894351 32811650 77015686 81861742 X 1132595 -215296 X X 0 1 X 1 0 880661 880661 3749471 919065 2830406 91979338 28928939 63050399 66761466 CFC MEMBERSHIP 1000 C CFC CAPITAL TERM CERTIFICATES 490057 C CFC PATRONAGE CAPITAL 204416 C NCEMC PATRONAGE CAPITAL 2913077 C TEMA PATRONAGE CAPITAL 359948 C SDC MEMBERSHIP 100 C PATRONAGE CAPITAL 126594 C SANDHILLS UTILITY SERVICES 3617088 C FEDERATED INSURANCE 135425 C MISCELLANEOUS 1813 C COBANK - MEMBERSHIP 1000 C COBANK - CAPITAL CERTIFICATES 17683 C GREENCO - CAPITAL CERTIFICATES 6756 C GREENCO - MEMBERSHIP 1000 C 7875957 CONSUMER DEPOSITS 1607817 DEFERRED CREDITS 1103273 ACCUMULATED OTHER COMPREHENSIVE INCOME 5089900 7800990 X 45310715 0 45310715 0 45310715 44178120 0 44178120 0 44178120 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2012 OR 2011. X 0 0 0 MORRIS MCCLELION 156503 0 0 0 0 0 34435 0 13213 0 204151 0 0 0 DOUGLAS S ROWLES 111685 0 0 0 0 0 29605 0 13213 0 154503 0 0 0 MICHAEL ADCOCK 109048 0 0 0 0 0 50189 0 7801 0 167038 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION OPERATES AS A COOPERATIVE. MEMBERSHIP IS COMPRISED OF THOSE INDIVIDUALS AND BUSINESSES THAT USE THE ORGANIZATION'S SERVICES. THERE ARE NO CLASSES OF MEMBERSHIP. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B ACTIVE MEMBERS MUST APPROVE OF THE DISPOSAL OF A SIGNIFICANT PERCENTAGE OF THE ORGANIZATION'S ASSETS. FORM 990, PART VI, SECTION B, LINE 11 ACCOUNTING PERSONNEL REVIEW THE 990 FOR ACCURACY BEFORE FURNISHING IT TO THE CHIEF EXECUTIVE OFFICER AND THE BOARD OF DIRECTORS FOR THEIR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE COVERED UNDER THE ORGANIZATION'S CODE OF CONDUCT, WHICH STATES, "EMPLOYEES ARE ENCOURAGED TO TALK TO SUPERVISORS, MANAGERS, OR OTHER APPROPRIATE PERSONNEL ABOUT OBSERVED ILLEGAL OR UNETHICAL BEHAVIOR, AS WELL AS ACTUAL OR SUSPECTED VIOLATIONS OF THE POLICY OF WHICH THEY ARE AWARE, OR CONCERNS ABOUT THE BEST COURSE OF ACTION IN A PARTICULAR SITUATION". A COPY OF THE POLICY IS POSTED AT EACH OFFICE LOCATION AND A COPY CAN BE REQUESTED FROM A SUPERVISOR. EMPLOYEES ARE NOTIFIED ONCE A YEAR ABOUT THE POLICY. EMPLOYEES ARE EXPECTED TO COOPERATE IN INTERNAL INVESTIGATIONS OF MISCONDUCT. DIRECTORS ARE SIMILARY ENCOURAGED TO DISCUSS SUCH ISSUES WITH FELLOW DIRECTORS OR WITH THE PRESIDENT OF THE BOARD. DIRECTORS SIGN A QUESTIONNAIRE THAT ASKS ABOUT THE POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PERIODICALLY USES THE SERVICES OF A CONSULTING SERVICE WHICH COMPARES THE ORGANIZATION'S COMPENSATION WITH THAT OF SIMILAR ORGANIZATIONS. SALARIES OF MANAGEMENT PERSONNEL ARE REVIEWED BY THE BOARD OF DIRECTORS, AND FILES ARE MAINTAINED FOR THE REVIEW PROCESS BY WHICH MERIT RAISES ARE GRANTED. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE BYLAWS ARE PROVIDED TO NEW MEMBERS. A CONDENSED FINANCIAL STATEMENT IS PROVIDED TO THE MEMBERS AS A PART OF THE ORGANIZATION'S ANNUAL REPORT. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S HEADQUARTERS. THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE ANNUAL AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CONTRIBUTIONS IN AID OF CONSTRUCTION -194,251. DECREASE IN OTHER COMPREHENSIVE INCOME -23,800. INCREASE IN MEMBERSHIPS 2,755. THERE WERE NO CHANGES TO THE OVERSIGHT PROCESS NOR THE AUDITOR SELECTION PROCESS.