WAKE ELECTRIC MEMBERSHIP CORPORATION (EIN 560440935) - 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

JAMES E MANGUM JR

Phone

9198636300

Tax Period

2024-01-01 to 2024-12-31

WAKE ELECTRIC MEMBERSHIP CORPORATION, founded in 1940, is a major nonprofit that reported $116.7M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

WAKE ELECTRIC PROVIDES RELIABLE, SAFE, AND AFFORDABLE ENERGY AND RELATED SERVICES. WAKE ELECTRIC OPERATES AS A COOPERATIVE BUSINESS AND CONTINUALLY IMPROVES ITS SERVICES TO MEET THE NEEDS OF OUR MEMBERS AND ENHANCE THEIR QUALITY OF LIFE. WAKE ELECTRIC OPERATES A SUSTAINABLE ELECTRIC SYSTEM. SUSTAINABLE MEANS DELIVERING AFFORDABLE, INCREASINGLY CLEAN ELECTRICITY OVER A GRID THAT IS MORE EFFICIENT, RESILIENT AND CAPABLE OF SUPPORTING NEW ENERGY RESOURCES.

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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 $115,853,417

Investment Income $859,359

Other Revenue $-12,134

TOTAL REVENUE $116,700,642

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,519,362

Fundraising Expenses $0

Other Expenses $98,836,726

TOTAL EXPENSES $116,700,642

Year-over-Year Comparison

	2024	2023	Change
Revenue	$116,700,642	$105,727,856	+0.1%
Expenses	$116,700,642	$105,727,856	+0.1%
Net Income	$0	N/A	N/A

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

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

$1,275,208

Total Directors

$291,511

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
H MICHAEL DICKERSON	PRESIDENT	9.97	Officer Director	$40,712	$0	$40,712
ALLEN NELSON	VICE PRESIDE	8.27	Officer Director	$35,313	$0	$35,313
GREG FULLER	SECRETARY	7.81	Officer Director	$32,604	$0	$32,604
ROBERT HILL	TREASURER	10.54	Officer Director	$31,004	$0	$31,004
SUZY MORGAN	DIRECTOR	13.40	Director	$33,813	$0	$33,813
ROBERT JOE EDDINS	DIRECTOR	5.88	Director	$28,604	$0	$28,604
JACKIE THOMPSON	DIRECTOR	6.79	Director	$31,404	$0	$31,404
W JOSEPH HILBURN JR	DIRECTOR	6.98	Director	$27,453	$0	$27,453
WILLIAM DANIEL KEEL	DIRECTOR	6.77	Director	$30,604	$0	$30,604
JAMES E MANGUM JR	CEO & GEN. M	50.00	Officer	$1,060,122	$75,453	$1,135,575
DON BOWMAN	MANAGER OF O	50.00	Highest	$426,183	$67,747	$493,930
CYNTHIA M CURRIN	GENERAL COUN	50.00	Highest	$431,089	$37,618	$468,707
CHRISTOPHER D WRIGHT	MGR OF ENGIN	50.00	Highest	$217,220	$49,773	$266,993
KIRK METCALF	VP OF MARKET	50.00	Highest	$214,376	$48,641	$263,017
CECIL ALEXANDER	SUBSTATION S	50.00	Highest	$187,900	$14,075	$201,975

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	$116,700,642	$116,700,642	$335,397,488	No data
2023	$105,727,856	$105,727,856	$315,412,174	No data
2022	$104,928,493	$104,928,493	$298,402,185	No data
2021	$101,861,632	$101,861,632	$280,486,920	No data
2020	$97,434,140	$97,434,140	$260,399,357	No data
2019	$100,355,216	$100,355,216	$246,078,938	No data
2018	$100,876,481	$100,876,481	$236,429,522	No data

WAKE ELECTRIC MEMBERSHIP CORPORATION