Nonprofit · EIN 56-0440935
WAKE ELECTRIC MEMBERSHIP CORP
Tax-exempt · WAKE FOREST, NC 27587
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $129,361,410 | $129,361,410 | $0 | $365,417,450 | $240,942,105 | $124,475,345 |
| December 31, 2024 | 990 | $116,700,642 | $116,700,642 | $0 | $335,397,488 | $215,604,933 | $119,792,555 |
| December 31, 2023 | 990 | $105,727,856 | $105,727,856 | $0 | $315,412,174 | $199,761,681 | $115,650,493 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $129,211,826
- Investment income
- $54,876
- Net rental income
- $93,732
- Other revenue
- $94,708
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $6,898,326
- Compensation of officers, directors and key employees
- $1,425,344
- Other salaries and wages
- $6,181,039
- Salaries, compensation and benefits (total)
- $12,087,684
- Professional fundraising fees
- $0
- Depreciation
- $10,870,869
- Program services (functional)
- $129,361,410
Balance sheet and other
- Total assets, start of year
- $335,397,488
- Total assets, end of year
- $365,417,450
- Total liabilities, end of year
- $240,942,105
- Net assets, end of year
- $124,475,345
- Land, buildings and equipment
- $299,541,765
- Gross receipts
- $129,692,882
- Employees
- 59
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES E MANGUM JR | CEO & GEN. M Officer | 50 | $1,038,667 | $80,294 |
| DON BOWMAN | MANAGER OF O Highest-paid employee | 50 | $457,124 | $72,779 |
| CHRISTOPHER D WRIGHT | MGR OF ENGIN Highest-paid employee | 50 | $264,310 | $55,412 |
| KIRK METCALF | VP OF MARKET Highest-paid employee | 50 | $249,826 | $54,271 |
| CYNTHIA M CURRIN | GENERAL COUN Highest-paid employee | 50 | $270,966 | $12,313 |
| STEVEN BALLARD | MGR-CYBER SE Highest-paid employee | 50 | $200,078 | $32,880 |
| H MICHAEL DICKERSON | PRESIDENT Trustee or director, Officer | 13.52 | $44,680 | $0 |
| ALLEN NELSON | VICE PRESIDE Trustee or director, Officer | 10.6 | $41,681 | $0 |
| SUZY MORGAN | DIRECTOR Trustee or director | 13.27 | $35,281 | $0 |
| GREG FULLER | SECRETARY Trustee or director, Officer | 7.13 | $34,972 | $0 |
| JACKIE THOMPSON | DIRECTOR Trustee or director | 6.94 | $32,002 | $0 |
| ROBERT HILL | TREASURER Trustee or director, Officer | 8.62 | $30,172 | $0 |
| W JOSEPH HILBURN JR | DIRECTOR Trustee or director | 7.08 | $29,421 | $0 |
| WILLIAM DANIEL KEEL | DIRECTOR Trustee or director | 6.58 | $29,202 | $0 |
| ROBERT JOE EDDINS | DIRECTOR Trustee or director | 6 | $28,972 | $0 |
990 for the year ended December 31, 2024: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES E MANGUM JR | CEO & GEN. M Officer | 50 | $1,060,122 | $75,453 |
| DON BOWMAN | MANAGER OF O Highest-paid employee | 50 | $426,183 | $67,747 |
| CYNTHIA M CURRIN | GENERAL COUN Highest-paid employee | 50 | $431,089 | $37,618 |
| CHRISTOPHER D WRIGHT | MGR OF ENGIN Highest-paid employee | 50 | $217,220 | $49,773 |
| KIRK METCALF | VP OF MARKET Highest-paid employee | 50 | $214,376 | $48,641 |
| CECIL ALEXANDER | SUBSTATION S Highest-paid employee | 50 | $187,900 | $14,075 |
| H MICHAEL DICKERSON | PRESIDENT Trustee or director, Officer | 9.97 | $40,712 | $0 |
| ALLEN NELSON | VICE PRESIDE Trustee or director, Officer | 8.27 | $35,313 | $0 |
| SUZY MORGAN | DIRECTOR Trustee or director | 13.4 | $33,813 | $0 |
| GREG FULLER | SECRETARY Trustee or director, Officer | 7.81 | $32,604 | $0 |
| JACKIE THOMPSON | DIRECTOR Trustee or director | 6.79 | $31,404 | $0 |
| ROBERT HILL | TREASURER Trustee or director, Officer | 10.54 | $31,004 | $0 |
| WILLIAM DANIEL KEEL | DIRECTOR Trustee or director | 6.77 | $30,604 | $0 |
| ROBERT JOE EDDINS | DIRECTOR Trustee or director | 5.88 | $28,604 | $0 |
| W JOSEPH HILBURN JR | DIRECTOR Trustee or director | 6.98 | $27,453 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES E MANGUM JR | CEO & GEN. M Officer | 50 | $932,813 | $71,846 |
| DON BOWMAN | MANAGER OF O Highest-paid employee | 50 | $397,804 | $63,720 |
| CYNTHIA M CURRIN | GENERAL COUN Highest-paid employee | 50 | $392,739 | $34,801 |
| CHRISTOPHER D WRIGHT | MGR OF ENGIN Highest-paid employee | 50 | $199,802 | $47,861 |
| KIRK METCALF | VP OF MARKET Highest-paid employee | 50 | $193,893 | $47,204 |
| STEVE BALLARD | MGR OF CYBER Highest-paid employee | 50 | $174,513 | $28,838 |
| H MICHAEL DICKERSON | VICE PRESIDE Trustee or director, Officer | 11.08 | $37,100 | $0 |
| SUZY MORGAN | PRESIDENT Trustee or director, Officer | 12.88 | $35,701 | $0 |
| ALLEN NELSON | DIRECTOR Trustee or director | 7.65 | $34,271 | $0 |
| ROBERT HILL | TREASURER Trustee or director, Officer | 8.75 | $28,992 | $0 |
| GREG FULLER | SECRETARY Trustee or director, Officer | 6.79 | $28,192 | $0 |
| WILLIAM DANIEL KEEL | DIRECTOR Trustee or director | 7.1 | $27,792 | $0 |
| W JOSEPH HILBURN JR | DIRECTOR Trustee or director | 7.27 | $26,241 | $0 |
| ROBERT JOE EDDINS | DIRECTOR Trustee or director | 5.48 | $25,392 | $0 |
| JACKIE THOMPSON | DIRECTOR Trustee or director | 4.38 | $6,048 | $0 |
Address and contacts
- Address (IRS master file)
- 100 S FRANKLIN ST, WAKE FOREST, NC 27587-2747
- In care of
- % ANGELA CHEEK
- Principal officer (990 for 2025)
- JAMES E MANGUM JR, PO BOX 1229, WAKE FOREST, NC 27588
- Signed the 990
- JAMES E MANGUM JR, CEO & GEN. MGR.
- Phone
- (919) 863-6300
- Website
- WWW.WEMC.COM
- Return prepared by
- MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC
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.
Program accomplishments
- N/A
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 | 990 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
- 56-0440935
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1961
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $365,417,450
- Income (IRS master file)
- $129,692,882
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $129,361,410 | $129,361,410 | $365,417,450 | XML |
| 990 | December 2024 | $116,700,642 | $116,700,642 | $335,397,488 | XML |
| 990 | December 2023 | $105,727,856 | $105,727,856 | $315,412,174 | XML |
| 990 | December 2022 | $104,928,493 | $104,928,493 | $298,402,185 | 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 56-0440935).
Questions about WAKE ELECTRIC MEMBERSHIP CORP
- What is the EIN of WAKE ELECTRIC MEMBERSHIP CORP?
- The employer identification number (EIN) of WAKE ELECTRIC MEMBERSHIP CORP is 56-0440935.
- Is WAKE ELECTRIC MEMBERSHIP CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1961.
- Are donations to WAKE ELECTRIC MEMBERSHIP CORP tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does WAKE ELECTRIC MEMBERSHIP CORP 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 WAKE ELECTRIC MEMBERSHIP CORP due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WAKE ELECTRIC MEMBERSHIP CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of WAKE ELECTRIC MEMBERSHIP CORP?
- The 990 for the year ended December 31, 2025 names JAMES E MANGUM JR.
- Who are the officers and directors of WAKE ELECTRIC MEMBERSHIP CORP?
- The 990 for the year ended December 31, 2025 lists 15 people; 15 received compensation from the organization, the highest $1,038,667 (JAMES E MANGUM JR, CEO & GEN. M).
- How much revenue does WAKE ELECTRIC MEMBERSHIP CORP have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $129,361,410, expenses of $129,361,410 and total assets of $365,417,450 at year end.
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