BRUNSWICK ELECTRIC MEMBERSHIP CORP… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1939

Legal Domicile

Principal Officer

JOSHUA WINSLOW

Phone

9107544391

Tax Period

2024-01-01 to 2024-12-31

BRUNSWICK ELECTRIC MEMBERSHIP CORPORATION, founded in 1939, is a major nonprofit that reported $237.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $229.6M left a modest 3% surplus.

Mission

THE MISSION OF BRUNSWICK ELECTRIC MEMBERSHIP CORPORATION IS TO PROVIDE OUR COOPERATIVE MEMBERSHIP WITH SUPERIOR ELECTRIC AND CONSUMER SERVICES THROUGH OPEN COMMUNICATION, UTILIZING A HIGHLY-TRAINED, EFFICIENT WORK FORCE IN CONJUNCTION WITH A KNOWLEDGEABLE AND WELL-INFORMED MEMBERSHIP. OUR PRIMARY GOAL IS TO DISTRIBUTE SAFE, AFFORDABLE, RELIABLE, AND ENVIRONMENTALLY RESPONSIBLE ELECTRICITY TO OUR MEMBERSHIP.

Program Service Accomplishments

Program 1

Expenses: $216,039,847

DISTRIBUTION OF ELECTRICITY TO MEMBERS, WHICH INCLUDES THE PURCHASE OF ELECTRIC POWER FROM SUPPLIERS, TRANSMISSION OPERATIONS AND MAINTENANCE, DISTRIBUTION OPERATIONS AND MAINTENANCE, CUSTOMER...

DISTRIBUTION OF ELECTRICITY TO MEMBERS, WHICH INCLUDES THE PURCHASE OF ELECTRIC POWER FROM SUPPLIERS, TRANSMISSION OPERATIONS AND MAINTENANCE, DISTRIBUTION OPERATIONS AND MAINTENANCE, CUSTOMER ACCOUNTING, CUSTOMER SERVICE, MARKETING, GENERAL ADMINISTRATION, AND MINOR NON-OPERATING ACTIVITIES.

Program 2

Expenses: $11,164,495

PATRONAGE DIVIDENDS PAID TO MEMBERS' ACCOUNTS. SEE PART IX, LINE 4, "BENEFITS PAID TO OR FOR MEMBERS", PER IRS INSTRUCTIONS.

Program 3

Expenses: $2,356,017

OPERATION, MAINTENANCE, AND CONSTRUCTION OF ELECTRIC DISTRIBUTION LINES FOR (1) THE MILITARY OCEAN TERMINAL SUNNY POINT, UNDER THE TERMS OF A LONG-TERM CONTRACT WITH THE UNITED STATES GOVERNMENT, AND...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $235,604,323

Investment Income $1,002,843

Other Revenue $529,470

TOTAL REVENUE $237,136,636

Expense Breakdown

Grants Paid $397,909

Salaries & Benefits $25,106,382

Fundraising Expenses $0

Program Expenses $229,560,359

Other Expenses $192,891,573

TOTAL EXPENSES $229,560,359

Year-over-Year Comparison

	2024	2023	Change
Revenue	$237,136,636	$218,088,595	+0.1%
Expenses	$229,560,359	$213,390,688	+0.1%
Net Income	$7,576,277	$4,697,907	+0.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

211

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,625,094

Total Directors

$385,982

Key Employees

$915,784

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSHUA WINSLOW	CEO / GEN MG	50.00	Officer	$497,360	$212,866	$710,226
COREY THURLOW	COO	48.00	Officer	$342,592	$60,714	$403,306
SCOTT THOMAS	VP CORP SERV	40.00	Officer	$347,641	$68,948	$416,589
DAVID REEL	VP TECHNOLOG	40.00	Officer	$286,424	$89,197	$375,621
LISA FITZGERALD	VP FINANCE	50.00	Officer	$305,912	$108,867	$414,779
ROBERT MAXWELL	VP ENG & OPS	45.00	Officer	$97,628	$18,223	$115,851
JAMES T TIPPETT	MGR OPERATIO	50.00	Key Emp	$240,277	$34,902	$275,179
JAMES GREEN	MGR CUSTOMER	40.00	Key Emp	$200,074	$15,456	$215,530
JAMES E ETHERIDGE	SUPER. DIST	40.00	Key Emp	$163,734	$33,720	$197,454
JOHN E JOHNSON	MGR OPERATIO	48.00	Key Emp	$193,684	$33,937	$227,621
JEFFREY JACKSON	MGR, INFO TE	40.00	Highest	$194,098	$34,151	$228,249
AUGUST KUIGRE	FOREMAN	40.00	Highest	$164,501	$32,808	$197,309
WILLIAM E GODWIN	DIST. OPS SU	40.00	Highest	$162,080	$32,995	$195,075
ROY E STEPHENS	FOREMAN	40.00	Highest	$161,499	$32,723	$194,222
BRIAN HALL	OPS TECH MGR	40.00	Highest	$159,825	$33,507	$193,332
JOHN WARD	DIRECTOR	7.00	Director	$50,891	$0	$52,723
LARRY FOWLER	SECT./ TREAS	10.00	Officer Director	$53,146	$0	$55,118
DAVID GORE	PRESIDENT	17.00	Officer Director	$66,646	$0	$68,671
FREDERICK TEDDER	VICE PRESIDE	10.00	Officer Director	$37,174	$0	$39,178
CALVIN DUNCAN	ASST. SECT./	3.00	Officer Director	$23,671	$0	$25,755
DAN STRICKLAND	DIRECTOR	9.00	Director	$52,696	$0	$54,764
MOSES HERRING	DIRECTOR	3.00	Director	$25,919	$0	$27,746
DEBORAH AHLERS	DIRECTOR	2.00	Director	$2,406	$0	$3,306
PERRY SELLERS	DIRECTOR	9.00	Director	$31,360	$0	$33,187
GLENN HUMBERT	DIRECTOR	5.00	Director	$23,710	$0	$25,534

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$237,136,636	$229,560,359	$535,163,525	$7,576,277
2023	$218,088,595	$213,390,688	$510,296,750	$4,697,907
2023	$218,088,595	$213,390,688	$510,296,750	$4,697,907
2022	$218,662,307	$217,749,601	$498,679,399	$912,706
2021	$201,275,080	$199,029,268	$489,243,089	$2,245,812
2020	$205,162,869	$202,222,670	$467,836,329	$2,940,199
2019	$190,243,570	$191,589,278	$453,887,577	$-1,345,708
2018	$197,760,441	$191,158,838	$429,154,883	$6,601,603

BRUNSWICK ELECTRIC MEMBERSHIP CORPORATION