Jones-Onslow EMC

Legal name: Jones-onslow Electric Membership Corporation

Nonprofit profile at a glance

EIN
560283268
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Jacksonville, NC, US
Phone
910-353-1940
Rating
52
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$170,617,411
Expenses
$165,930,248
Assets
$394,832,474
Liabilities
$208,816,031

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • JEFFERY T CLARK (CEO ADVISOR)
  • RAY GARY (CEO)

Highest reported compensation

  • JEFFERY T CLARK (CEO ADVISOR): $563,486 total reported compensation
  • RAY GARY (CEO): $560,612 total reported compensation
  • ANDREA AVERY (VP HR): $446,994 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide safe, reliable and affordable electric service with uncompromised excellence in customer service while committing to improve the quality of life for our members through community and civic involvement.

What it reported doing in 2024

Rural electric cooperative providing electric services to approximately 72,000 members. The three largest program services as measured by expenses were as follows: cost of power 111,586,159 other salaries and wages 15,043,137 depreciation 14,298,825

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 88
  • Accountability: 100
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.7%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 2.38; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 29th percentile among comparable filings

Details

  • What they do: 4 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $563K · 23 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.5M reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 23 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.