SURRY-YADKIN ELECTRIC MEMBERSHIP CORPORATION

EIN: 560421795

DOBSON, NC

Total Revenue
$69,155,272
Total Expenses
$69,392,868
Total Assets
$188,079,792
Net Assets
$71,466,175
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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
NC
Principal Officer
WILLIAM GREGORY PUCKETT
Phone
3363568241
Tax Period
2025-01-01 to 2025-12-31

SURRY-YADKIN ELECTRIC MEMBERSHIP CORPORATION, founded in 1940, is a mid-sized nonprofit that reported $69.2M in total revenue in fiscal year 2025. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

PROVIDE OUTSTANDING SERVICE THAT POWERS OUR RURAL COMMUNITIES

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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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $67,617,940
Investment Income $219,734
Other Revenue $1,317,598
TOTAL REVENUE $69,155,272

Expense Breakdown

Grants Paid $0
Salaries & Benefits $675,887
Fundraising Expenses $0
Other Expenses $63,925,608
TOTAL EXPENSES $69,392,868

Year-over-Year Comparison

2025 2024 Change
Revenue $69,155,272 $63,204,681 +0.1%
Expenses $69,392,868 $62,845,446 +0.1%
Net Income $-237,596 $359,235 -1.7%
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

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Governance

Voting Members
10
Independent Members
10
Employees
86
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
5
$571,307
Total Directors
10
$182,610
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM GREGORY PUCKETT EXECUTIVE VP 50.00
Officer
$356,635 $136,642 $493,277
RICHARD BRYON KENNEDY ASSISTANT MA 45.00
Highest
$216,691 $68,273 $284,964
MISTY UTT VP OF FINANC 45.00
Highest
$191,799 $85,226 $277,025
MICAH MILLS VP OF OPERAT 45.00
Highest
$168,312 $72,433 $240,745
MATTHEW BURKE JOURNEY LINE 45.00
Highest
$147,862 $49,480 $197,342
JODY NORMAN APPARATUS TE 45.00
Highest
$137,117 $50,654 $187,771
KAROLINE OVERBY PRESIDENT 6.00
Officer Director
$23,550 $0 $23,550
SANDY WELBORN DIRECTOR 6.00
Director
$23,550 $0 $23,550
STEPHEN HUTSON DIRECTOR 5.00
Director
$19,920 $0 $19,920
STEPHEN JOYCE DIRECTOR 5.00
Director
$19,920 $0 $19,920
DAVID PENDRY DIRECTOR 5.00
Director
$19,920 $0 $19,920
EDDIE CAMPBELL VICE PRESIDE 5.00
Officer Director
$19,590 $0 $19,590
BRENDA HARDY SECRETARY 4.00
Officer Director
$18,270 $0 $18,270
ALVIN REID JR DIRECTOR 3.00
Director
$17,280 $0 $17,280
DAVID MILLER TREASURER 3.00
Officer Director
$16,620 $0 $16,620
WILLARD SWIFT DIRECTOR 1.00
Director
$3,990 $0 $3,990
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
2025 $69,155,272 $69,392,868 $188,079,792 $-237,596
2024 $63,204,681 $62,845,446 $181,413,293 $359,235
2023 $58,434,052 $58,434,052 $170,779,132 No data
2022 $60,388,840 $60,388,840 $165,218,021 No data
2021 $54,865,106 $54,865,106 $160,081,171 No data
2019 $61,048,986 $61,048,986 $141,913,227 No data
2018 $61,046,107 $61,046,107 $134,790,890 No data
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