2013-11-13T13:40:02-08:00 2012-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2012-01-01 560123345 PEE DEE ELECTRIC MEMBERSHIP CORPORATION PEED 7046942114 575 US HIGHWAY 52 SOUTH WADESBORO NC 28170 DONALD H SPIVEY 2013-11-13 true G STEVEN GILLIAM CPA P00348264 8043231313 2012 2016-02-25 16:41:14Z Donald H Spivey 575 US HIGHWAY 52 SOUTH Wadesboro NC 28170 45246893 false false X www.pdemc.com X 1939 NC Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of PDEMC 10 10 70 1440 92593 93894 42137273 41113758 78425 302208 984502 3737033 43292793 45246893 104950 70246 3084979 3961179 5593824 5721889 0 0 35538697 34326605 44322450 44079919 -1029657 1166974 88609797 91352084 53296657 53082813 35313140 38269271 Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of PDEMC false false SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY to the members of PDEMC. The three larges program services, as measured by expenses were as follows:Cost of Power $ 25,728,001Capital credits allocated $ 3,961,179Salaries and Wages $ 3,733,052 false false false false false false false false false false true false true false true false false false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false false false false false true 29 0 true 70 true true false false false true false false false false 44530173 458521 false false false X 10 10 false false false false true true true true true false false true true true true true true true true false NC X THE CORPORATION 7046942114 575 HWY 52 South WADESBORO NC 28170 CRAIG RATLIFF 2.00 0.00 X 3831 0 0 RICHARD V MELTON 5.00 0.00 X 6756 0 0 BENJAMIN MCCALLUM JR 4.00 0.00 X 6011 0 0 MARCIA A LAMBETH 4.00 0.00 X 7121 0 0 Benjamin Lybrand 3.00 0.00 X 4016 0 0 ROBERT C DAVIS jr 1.00 0.00 X 2907 0 0 WINNIE M BENNETT 2.00 0.00 X 4206 0 0 MILLARD E RUSSELL 3.00 0.00 X X 6664 0 0 DONALD A THOMPSON 5.00 0.00 X X 6994 0 0 RICHARD JOHNSON 8.00 0.00 X X 12349 0 0 Phillip Mabry 40.00 0.00 X 93515 0 37498 Donald H Spivey 40.00 0.00 X 170849 0 100237 John M Rhyne 40.00 0.00 X 109491 0 34899 434710 172634 3 false true false Tritech Direct PO Box 13531 Resarch Triangle Par NC 27709 Computer services 270647 Southeastern Data Coop Inc 100 Ashford Center North Atlanta GA 30338 Comp. Software Supp. 305404 Naturchem Inc PO Box 63335 Charlotte NC 28263 Right of Way 163005 Bufords Tree 4230 Choctaw Trail Anniston AL 36207 Right of Way 256154 Asplundh Tree Expert 708 Blair Mill Road Willow Grove PA 19090 RIGHT OF WAY 520464 7 93894 93894 SALE AND DIST. OF ELECT. 221000 41113758 41113758 41113758 285466 285466 0 0 194266 194266 194266 194266 16742 16742 16742 16742 0 0 0 PATRONAGE ALLOC. RECEIVED 221000 101149 101149 Earnings from Eq. Inv. 221000 3386454 3386454 CONTRIB. IN AID OF CONST. 221000 51670 51670 3494 2054 1440 3542767 45246893 44655085 1440 496474 70246 0 0 3961179 462954 0 3733052 800006 406084 319793 0 31080 0 0 0 0 0 0 0 0 0 0 0 0 0 2075952 0 3258145 0 TAXES 1327354 ADMIN. & GENERAL 1466272 DISTRIBUTION MAINTENANCE 1616774 Cost of power 25728001 -1176973 44079919 0 0 0 95330 14279 3454873 3994119 0 3053495 2830208 0 0 500000 375000 1209475 1242123 2008069 1786533 100952699 28732428 70968327 72220271 0 0 4215306 4815451 0 3104922 4074100 88609797 91352084 3659196 3239374 41187481 40205373 8449980 9638066 53296657 53082813 X 35313140 38269271 35313140 38269271 88609797 91352084 X 1166974 1789157 X false true X true false 346723 346723 100605976 28732428 71873548 72220271 4815451 OTHER CURRENT LIABILITIES 898581 Deferred Credits 3131962 CONSUMER DEPOSITS 965564 APBO 4641959 9638066 44285414 -909809 -909809 45195223 51670 51670 45246893 40048494 40048494 4031425 4031425 44079919 Part XII, Line 4b Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Pat. Div. paid to members $3961179 Care to Share Activity $70246 Part XI, Line 4b Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S CIAC $51670 false 0 0 X X X X X false false false Donald H Spivey 170849 79904 20333 271086 Form 990, Part IX, Line 4 Benefits Paid To or For Members Patronage dividends paid to members' accounts in accordance with the pre-existing obligation in Pee Dee Electric Membership Corporation's by-laws. The Corporation is obligated to pay by credits to a capital account for each patron all such amounts in excess of operating costs and expenses. IRS instructions for line 4 changed in 2011 to include patronage dividends paid by section 501(c)(12) organizations to their members. Accordingly, these amounts are now reported on line 4. Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases Patronage Div. paid to members' accts not expense per gaap = $3961179 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases OCI adjustment = -$466391 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases noncash patronge allocations not revenue per irs = $591405 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases Net Retirement of Capital Credits = -$814398 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases contributions in aid of construction = -$51670 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases Care to Share Activity = -$23648 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases Book tax difference sandhills utility services = -$1407320 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases = $0 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases = $0 Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Financial data is provided to the membership at the annual meeting and also included on the cooperative's website. In addition, the annual report is provided to the membership in the Coop's monthly magazine. Other governing documents including the form 990 are available upon request. Form 990, Part VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The Governing body has a compensation committee that reviews the CEO's performance annually and recommends salary changes to the board. As part of this review, the committee considers the recommendations from the outside salary consultant and other statewide comparison data from electric cooperatives throughout the state. The CEO reviews and recommends salary changes for other officers and key employees to the compensation committee for approval based on the recommendation of an outside salary consultant. Form 990, Part VI, Line 15a Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Governing body has a compensation committee that reviews the CEO's performance annually and recommends salary changes to the board. As part of this review, the committee considers the recommendations from the outside salary consultant and other statewide comparison data from electric cooperatives throughout the state. The CEO reviews and recommends salary changes for other officers and key employees to the compensation committee for approval based on the recommendation of an outside salary consultant. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Each director, officer and key employee must annually complete and sign a conflict of interest form. Form 990, Part VI, Line 11b Form 990, Part VI, Line 11b: Form 990 Review Process The CEO provides a copy of the 990 to the finance committee and governing body prior to filing with the IRS. Form 990, Part VI, Line 7b Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders certain decisions of the governing body are subject to approval by the members as provided for in the cooperative bylaws. Form 990, Part VI, Line 7a Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body All members of Pee Dee EMC receive one vote with respect to selecting the governing board of directors. Form 990, Part VI, Line 6 Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Pee Dee Electric Membership Corporation is an electric membership corporation that delivers electricity to the members of the cooperative. The members elect the board of directors, which is the governing body of the cooperative.