Electric Membership Corp Baldwin County Electric Membership Corp

Description

Electric Membership Corp Baldwin County Electric Membership Corp, also known as Baldwin EMC, is a nonprofit cooperative organization providing electric services to its members. The cooperative is classified as a 501(c)12 organization, which includes entities with a mutually beneficial nature, such as benevolent life insurance associations and telephone companies.

History

Baldwin EMC was organized in 1937 with the primary goal of supplying electricity to rural areas. The establishment of the Rural Electrification Administration (REA) in 1935 by President Franklin D. Roosevelt played a crucial role in facilitating the formation of such cooperatives by providing financial assistance for rural electrification projects.

Operations

Baldwin EMC serves members primarily across Baldwin County and southern Monroe County in Alabama. The cooperative is noted for its experienced leadership and adherence to sound business principles, which have contributed to its growth and reliability. It provides personal, local service at affordable rates, utilizing advanced metering and monitoring equipment to minimize outage times.

Financials

As of recent reports, Baldwin EMC operates with significant financial resources. It generates revenue primarily from program services, with a substantial portion of its income derived from member contributions. The organization holds total assets valued in hundreds of millions of dollars, with liabilities reflecting its operational and financial obligations.

Leadership and Employees

Baldwin EMC is led by key executives, including a CEO, Vice Presidents, and other officers who oversee different aspects of the cooperative's operations. The compensation of these leaders is reported in annual financial filings.

Impact and Service

The cooperative plays a vital role in its service area, providing electricity to over 91,000 meters. It is recognized as one of the largest and fastest-growing electric cooperatives in Alabama. Through its operations, Baldwin EMC supports local communities by employing skilled residents and participating in community activities. The organization's commitment to affordable and reliable electric service aligns with its mission to meet the evolving needs of its members.

Status and Classification

As a 501(c)12 organization, donations to Baldwin EMC are not tax-deductible. The cooperative operates as a member-owned entity, ensuring that its operations and decisions are guided by the interests of its members rather than profit margins.