LUMBEE RIVER ELEC MEMBERSHIP CORP (EIN 560305124) - Form 990 Financial Analysis & Trantor Score

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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

1940

Legal Domicile

Principal Officer

JON T LOCKLEAR

Phone

9108434131

Tax Period

2024-01-01 to 2024-12-31

LUMBEE RIVER ELEC MEMBERSHIP CORP, founded in 1940, is a major nonprofit that reported $169.6M in total revenue in fiscal year 2024.

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF LREMC.

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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 $168,744,996

Investment Income $620,818

Other Revenue $194,386

TOTAL REVENUE $169,560,200

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,802,632

Fundraising Expenses $0

Other Expenses $149,757,863

TOTAL EXPENSES $170,690,428

Year-over-Year Comparison

	2024	2023	Change
Revenue	$169,560,200	$158,192,273	+0.1%
Expenses	$170,690,428	$161,652,260	+0.1%
Net Income	$-1,130,228	$-3,459,987	-0.7%

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

143

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

$605,288

Total Directors

$222,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN DAVIS	VP INFO TECH	40.00	Highest	$174,040	$158,902	$332,942
JON T LOCKLEAR	PRESIDENT &	40.00	Officer	$277,418	$55,505	$332,923
RUBY QUICK	VP MEMBER SR	42.00	Highest	$177,605	$97,896	$275,501
WILLIAM DOCKERY	SUP OF OPERA	57.00	Highest	$181,185	$65,743	$246,928
JOHN DYSON	COO	42.00	Highest	$203,040	$36,357	$239,397
ROMA HUSSEY	VP OF HR	40.00	Highest	$158,145	$51,191	$209,336
DANIEL LEONARD	CFO	40.00	Officer	$172,176	$32,089	$204,265
ERIC LOCKLEAR	DIRECTOR	5.00	Director	$22,500	$0	$22,500
RON ANDERSON	DIRECTOR	3.00	Director	$20,100	$0	$20,100
RORY C EDDINGS	CHAIRMAN	4.00	Officer Director	$19,500	$0	$19,500
SHARON BURNETTE	DIRECTOR	4.00	Director	$19,200	$0	$19,200
SILVA CHAVIS	SECRETARY	3.00	Officer Director	$16,500	$0	$16,500
RONALD G HAMMONDS	DIRECTOR	2.00	Director	$16,200	$0	$16,200
KIRK LOWERY	TREASURER	2.00	Officer Director	$16,200	$0	$16,200
MARY BETH LOCKLEAR	DIRECTOR	3.00	Director	$15,900	$0	$15,900
ROGER OXENDINE	VICE CHAIRMA	2.00	Officer Director	$15,900	$0	$15,900
RHONDA M GOINS-DIAL	DIRECTOR	2.00	Director	$15,600	$0	$15,600
JAMES HARDIN	DIRECTOR	2.00	Director	$15,600	$0	$15,600
ANTHONY HUNT	DIRECTOR	2.00	Director	$15,000	$0	$15,000
SHERRY CARTER	DIRECTOR	2.00	Director	$14,700	$0	$14,700

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	$169,560,200	$170,690,428	$419,587,831	$-1,130,228
2023	$158,192,273	$161,652,260	$388,927,167	$-3,459,987
2022	$152,496,016	$154,973,989	$369,886,144	$-2,477,973
2021	$157,047,109	$156,380,186	$379,137,128	$666,923
2020	$151,555,489	$154,685,716	$362,048,931	$-3,130,227
2019	$156,551,816	$159,355,221	$338,066,922	$-2,803,405
2018	$159,150,316	$161,320,734	$344,095,021	$-2,170,418

LUMBEE RIVER ELEC MEMBERSHIP CORP