Nonprofit · EIN 56-0305124
LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION
Tax-exempt · PEMBROKE, NC 28372
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $169,560,200 | $170,690,428 | -$1,130,228 | $419,587,831 | $251,803,355 | $167,784,476 |
| December 31, 2023 | 990 | $158,192,273 | $161,652,260 | -$3,459,987 | $388,927,167 | $221,890,840 | $167,036,327 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $168,744,996
- Investment income
- $620,818
- Net rental income
- $136,299
- Net gain from sales of assets
- $93,181
- Net income from sales of inventory
- $6,525
- Other revenue
- $194,386
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $5,129,933
- Compensation of officers, directors and key employees
- $760,088
- Other salaries and wages
- $11,757,994
- Salaries, compensation and benefits (total)
- $15,802,632
- Professional fundraising fees
- $0
- Legal fees
- $36,735
- Travel
- $1,974,434
- Depreciation
- $13,404,117
Balance sheet and other
- Total assets, start of year
- $388,927,167
- Total assets, end of year
- $419,587,831
- Total liabilities, end of year
- $251,803,355
- Net assets, end of year
- $167,784,476
- Land, buildings and equipment
- $306,624,623
- Gross unrelated business income
- $371,599
- Gross receipts
- $169,573,025
- Employees
- 143
- Year formed
- 1940
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STEVEN DAVIS | VP INFO TECH Highest-paid employee | 40 | $174,040 | $158,902 |
| JON T LOCKLEAR | PRESIDENT & Officer | 40 | $277,418 | $55,505 |
| RUBY QUICK | VP MEMBER SR Highest-paid employee | 42 | $177,605 | $97,896 |
| WILLIAM DOCKERY | SUP OF OPERA Highest-paid employee | 57 | $181,185 | $65,743 |
| JOHN DYSON | COO Highest-paid employee | 42 | $203,040 | $36,357 |
| ROMA HUSSEY | VP OF HR Highest-paid employee | 40 | $158,145 | $51,191 |
| DANIEL LEONARD | CFO Officer | 40 | $172,176 | $32,089 |
| ERIC LOCKLEAR | DIRECTOR Trustee or director | 5 | $22,500 | $0 |
| RON ANDERSON | DIRECTOR Trustee or director | 3 | $20,100 | $0 |
| RORY C EDDINGS | CHAIRMAN Trustee or director, Officer | 4 | $19,500 | $0 |
| SHARON BURNETTE | DIRECTOR Trustee or director | 4 | $19,200 | $0 |
| SILVA CHAVIS | SECRETARY Trustee or director, Officer | 3 | $16,500 | $0 |
| RONALD G HAMMONDS | DIRECTOR Trustee or director | 2 | $16,200 | $0 |
| KIRK LOWERY | TREASURER Trustee or director, Officer | 2 | $16,200 | $0 |
| MARY BETH LOCKLEAR | DIRECTOR Trustee or director | 3 | $15,900 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROGER OXENDINE | VICE CHAIRMA Trustee or director, Officer | 2 | $15,900 |
| RHONDA M GOINS-DIAL | DIRECTOR Trustee or director | 2 | $15,600 |
| JAMES HARDIN | DIRECTOR Trustee or director | 2 | $15,600 |
| ANTHONY HUNT | DIRECTOR Trustee or director | 2 | $15,000 |
| SHERRY CARTER | DIRECTOR Trustee or director | 2 | $14,700 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JON T LOCKLEAR | PRESIDENT & Officer | 40 | $244,192 | $15,421 |
| STEVEN DAVIS | VP INFO TECH Highest-paid employee | 40 | $147,261 | $106,778 |
| WILLIAM DOCKERY | SUP OF OPERA Highest-paid employee | 60 | $165,731 | $74,714 |
| RUBY QUICK | VP MEMBER SR Highest-paid employee | 41 | $150,276 | $72,068 |
| JOHN DYSON | COO Highest-paid employee | 40 | $179,258 | $30,036 |
| WALTER WHITE | VP OF CORP S Highest-paid employee | 45 | $178,134 | $17,870 |
| DANIEL LEONARD | CFO Officer | 40 | $128,516 | $15,071 |
| RANDALL JONES | FORMER PRES. Officer | 40 | $27,404 | $0 |
| RORY C EDDINGS | CHAIRMAN Trustee or director, Officer | 4 | $20,700 | $0 |
| RON ANDERSON | DIRECTOR Trustee or director | 3 | $20,100 | $0 |
| SILVA CHAVIS | SECRETARY Trustee or director, Officer | 3 | $19,200 | $0 |
| RONALD G HAMMONDS | DIRECTOR Trustee or director | 3 | $18,900 | $0 |
| KIRK LOWERY | TREASURER Trustee or director, Officer | 2 | $18,600 | $0 |
| SHERRY CARTER | DIRECTOR Trustee or director | 3 | $18,300 | $0 |
| JAMES HARDIN | DIRECTOR Trustee or director | 3 | $18,000 | $0 |
| RHONDA M GOINS-DIAL | DIRECTOR Trustee or director | 2 | $16,200 | $0 |
| ANTHONY HUNT | DIRECTOR Trustee or director | 2 | $16,200 | $0 |
| ROGER OXENDINE | VICE CHAIRMA Trustee or director, Officer | 1 | $15,000 | $0 |
| ERIC LOCKLEAR | DIRECTOR Trustee or director | 2 | $14,700 | $0 |
| SPENCER LOCKLEAR | DIRECTOR Trustee or director | 3 | $14,000 | $0 |
| AUTRY LOWRY | DIRECTOR Trustee or director | 2 | $13,100 | $0 |
| SHARON BURNETTE | DIRECTOR Trustee or director | 2 | $3,700 | $0 |
| MARY BETH LOCKLEAR | DIRECTOR Trustee or director | 2 | $3,700 | $0 |
Address and contacts
- Address (IRS master file)
- 6090 NC HIGHWAY 711, PEMBROKE, NC 28372-7926
- Principal officer (990 for 2024)
- JON T LOCKLEAR, 6090 NC HIGHWAY 711, PEMBROKE, NC 28372
- Signed the 990
- JON T LOCKLEAR, PRESIDENT & CEO
- Phone
- (910) 843-4131
- Website
- WWW.LUMBEERIVER.COM
- Return prepared by
- ADAMS JENKINS & CHEATHAM
Mission
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF LREMC.
Program accomplishments
- SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF LREMC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES, WERE AS FOLLOWS: COST OF POWER: 113,124,641 DEPRECIATION: 13,404,117 SALARIES: 11,757,994
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-0305124
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1966
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $419,587,831
- Income (IRS master file)
- $169,573,025
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $169,560,200 | $170,690,428 | $419,587,831 | XML |
| 990 | December 2023 | $158,192,273 | $161,652,260 | $388,927,167 | XML |
| 990 | December 2022 | $152,496,016 | $154,973,989 | $369,886,144 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-0305124).
Questions about LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION
- What is the EIN of LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION?
- The employer identification number (EIN) of LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION is 56-0305124.
- Is LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1966.
- Are donations to LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION?
- The 990 for the year ended December 31, 2024 names JON T LOCKLEAR.
- Who are the officers and directors of LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION?
- The 990 for the year ended December 31, 2024 lists 20 people; 20 received compensation from the organization, the highest $174,040 (STEVEN DAVIS, VP INFO TECH).
- How much revenue does LUMBEE RIVER ELECTRIC MEMBERSHIP CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $169,560,200, expenses of $170,690,428 and total assets of $419,587,831 at year end.
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